You don't have to be an economist to realize that the exportation of 2% of the worlds oil from Libya or any other middle eastern country has little to nothing to do with the rise in gas prices for the consumer. Oil companies dictate the price of oil which is decided by those with vested interests in the profits. A trillion dollar industry with billions in profits made by a relatively small but powerful group of people determine exactly how much we pay at the pump irregardless of current world issues and tensions. Despite the largest oil spill in US history BP boasted millions in profits a quarter after and is expected to return to its billion dollar status relatively quickly. Shell, Exxon, and others are amongst the most powerful companies within the most profitable industry in the world. The only thing that appears to be clear, is despite oil spills, various civil wars, middle eastern turmoil and changes in technology, oil company profits continue to grow. Many cite the increase of oil in China and other moderate factors increasing demand as the true reason gas prices are constantly on the rise but all I can determine is that the greedy oil companies will always remain the main factor in gas price increases.
When will people wake up and realize that capitalism is the driver that determines the conditions in which we all live. From food costs to air fair the only real factor that determines how much it costs is the profit margins the major players in the world set. For all you disbelievers in the powers that be, Google gas company greed or corporate schemes and gas industries. You will find little to no information. Nearly all negative information including actual profits reported are impossible to find. An industry that grosses trillions and has and will continue to have immeasurable influence on policy, politicians, the media and therefore the masses will ensure it erases its truth from searchable history. In fact at this very moment the Republicans who receive millions in donations from the oil giants just recently attempted to pass a policy dismantling the EPA, the one government department responsible for protecting the environment. Hmm, this would cost jobs, allow for reckless business practices concerning the environment but the Republicans argue this would help dismantle crippling business policies and regulations. For who you ask? Well the Oil companies silly! But this is just the oil industry, how many other industries gross profits in the billions if not trillions and directly influence the cost and expense to consumers in their favor. A hint? What Senator was caught passing out bonus checks on the Senate Floor? Stay tuned for Good Ole Fashioned Capitalism Part II.
Nina Davis
photos courtesy of and seaserpentproductions and richardbrenneman.wordpress.com
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