Greed is driving up the cost of energy
I once believed that oil prices were being used to control the economy since interest rate increases by the Fed are less efficient in warding off inflation - but there really is no shortage of oil!
In the '70s, reportedly, oil companies did not report capped wells and known oil supplies. Are oil prices being used to control global warming - did George W. finally wake up to the Kyoto agreement? Even OPEC says not to blame them for the price of oil. The wealthy, George W. Bush and maybe the corporations, together, are driving up the price of oil by buying it as a commodity. The poor and middle class are unable to get involved in buying oil. It's the bubble-makers again. Even oil analyst Phil Flynn has a little laugh in his voice as he proclaims that prices might reach $200 dollars a barrel.
I understand that Bush started stocking oil reserves just as prices for oil began escalating, and he's still doing it. Are greedy oil companies, likewise, buying their own oil to drive up the prices with their windfall profits?
I can't believe that the truck drivers, airlines and the public aren't screaming mad, and demanding an investigation. Maybe we should be suing auto manufacturers for selling us cars we can't drive, and suing the oil companies for not providing for America's welfare by destroying our economy and our livelihood. Where are the class-action ambulance-chasers when you need them?
Even the natural gas companies are raising their prices although there is no shortage of natural gas. Supposedly, natural gas is often found when drilling for oil, even when the oil wells are dry. The majority of consumers can't switch to another energy source for heating like corporations can, so the natural gas companies have a monopoly that they can abuse.
Every business is jumping on the bandwagon now, especially when they see no government intervention and the helplessness of the public. Meat and other food prices have also jumped unreasonably in the last few months. I heard yesterday that even the price of shoes is going up.
Give me a break! I don't believe any of it, and neither should you.
Frank J. Sasevich
Bolingbrook