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Blame Oil Companies for $3.19 Gas?
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Post Blame Oil Companies for $3.19 Gas? 


On my way to work this morning, saw the gas price jumped to $3.19. OUCH!

Everytime an oil company releases its earning report, the news media makes it sound like greed is the only reason we are seeing the high gas prices. The politicians in Washington don't want to miss the chance of taking a cheap shot at the companies' executives. But at the end of the day, does blaming oil companies solve the problem?

Like every company out there, oil companies are in this business to make money. They need profits for their own survival and for the rainy days when profits are low or in the red. They need profit for their employees' paychecks and health insurance. They need profit for finding, drilling and processing oil. What is the difference between oil companies making a profit at the pump and Apple making a profit with iPod? How much profit a business makes is determined by many factors. The media and politicians can twist it any way they like, but in the end, it is a business decision.


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I guess the big difference is you can choose not to buy an I-Pod but you have to have transportation to work or other activities. Even if you live withing cycling or walking distance of most of your travel distances, goods and services you purchase must be transported.


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Well, now the gas price has been dropping recently. Do you hear the media or politicians praising the oil companies? The oil market is no different from other commodity markets - it is a free market. The media and politicians are always looking for someone to blame. But playing this blaming game against the oil companies is just unfair. Now they found out a large oil reserve in the Gulf of Mexico. Guess what, the oil companies have to invest billions of dollars up front to get it out. No one can guarantee they will get their money back. The oil business is no different from other business - it is a risky business. So what if they make some extra profits at the gas pump?


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is it time to bring out the alternative fuel sources yet? you know they have them. but as long as oil backs the dollar we're gonna live in a modern "gold rush". if our energy was dirt cheap or free, our precious system would fall, and the fear of that is too great for anyone to risk such a thing. businesses back other businesses. employees spend their wages on services from other employees, so as long as there's a market, our system needs the thing to survive.


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