Wednesday, June 4, 2008
I Don't Get It
Two very interesting simultaneous events occured as I was driving this morning. First, on CBS radio I heard the price of a barrel of oil on the world market 'dipped' to $125. Second as I passed an Exxon/Mobile station I noticed the price of regular unleaded was up 4 cents in the space of a couple of hours. I don't get it. I just don't get it. When oil goes up there's an immediate increase in the price of gasoline at the pump. But when it goes down isn't it supposed to go down at the pump too??? Plus if the oil companies, as they've testified ad nauseum, are victims of supply and demand, and, as they're claiming, they have to pay as much for 'sweet crude' as the rest of the world, how's it possible for them to be reporting record quarterly profits? I'm no genius but it seems to me that at the end of the day in order to have a profit, you must have tacked on some cash some where along the way, right?? I don't get it. But I'm sure our Congress will get to the bottom of it!!!!