So, oil prices spiked upwards towards $140 a barrel today. Some analysts are saying we'll see $12-$15 a gallon and shortages in the future. Farmers are starting to use mules again instead of tractors. And the CEOs of big oil went in front of Congress today and basically tried to paint themselves as victims. I think most victims would love to be in their position. Things are getting out of control and doing so rapidly. Some questions I'd like to ask those big oil barons.
You got tax incentives, which basically is some of my cash. How did you spend the dough you didn't have to fork over?
You keep saying your entitled to large profits in a up cycle. Ok, so when are you predicting the next down cycle? How much do you need to squirrel away to protect your business? My prediction? The next down cycle is going to start about the time gas prices hit $4.50 a gallon and people stop driving. You'll drop the prices to about $3.00 a gallon and we'll all feel better, right? C'mon, the only con more transparent is the one Hillary Clinton is trying to pull off.
Bush got his appeasing ass handed to him by his great buddy the King of Saudi Arabia who says there isn't a supply problem. Of course that's politics on a lot of levels. Let's say the Saudi King is lying and you're right. (Yeah, I know, no such chance, but play along.) How come you haven't taken steps the last several years (you know all those up cycles) to try and prevent this with all those profits? I know, I know, you'll blame the democrats, you'll blame the environmentalists. We've heard that all before and I'll admit some of it is true. But isn't that just a convenient scapegoat to allow you wrack up some more profits? Would you really be able to change things? If so, how soon?
Too bad the dunderheads in Congress don't want to ask the real questions. I don't think things will change after the next election. I don't think we're going to get that far before it all breaks down.
