Posts Tagged ‘supply an demand’

“Transitory Oil: Greasing the Slide”

Turmoil in the Mideast is being blamed for high gas prices.

Americans are getting fleeced by big oil companies!

In his first ever press conference Fed Chairman Ben Bernanke referred to the rise in oil and gas prices, as well as food and other commodity prices, as transitory. Though these stifling rises aren’t permanent they are having an immediate impact on those that can least afford them. They continue to erode the middle-class.

Transitory or not, big oil companies are making a killing on the high prices.

Exxon/Mobil reported record quarterly earnings, $10.65 billion, for the first quarter of 2011. That’s a 69% improvement over the same quarter last year. They spend millions of dollars in television and radio ads telling us how great they are. How much they’re doing for our planet. How much they’re improving our lives.

But are they really improving our lives?

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