by UncoveringTruths » Fri 28 Oct 2005, 10:27:09
$this->bbcode_second_pass_quote('', 'Y')esterday, ExxonMobil announced quarterly profits of nearly $10 billion, about $75,000 a minute. These profits come at the same time an ABC News poll finds 72 percent of Americans believe "big oil" is taking advantage of the hurricanes to drive up gas prices.
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Is there any good news for American consumers?Yes. Now that big oil has these record-breaking profits, they have an incentive to put more money into drilling and refining. That means that supply should go up, which should drive the price down. In the past, big oil companies didn't have the mega-profits to put into drilling for more oil and building more refineries.
I bet Big Oil Companies are ramping up security.
Heck the Gas prices are cheaper now than they were before the Hurricanes.