It seems that there is nothing President Obama can do to satisfy some of the lunatics in the world. I am not saying that all Republican
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Back talk, and playful jabs at the political whirlwind in today's society. Never one to hold my tongue, I semi-control myself as I voice my opinion on today's world.
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.