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When all is said and done there is nothing left to say or do.
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Are you better off today than in 2000?


Oil company profits for the first quarter of 2008:

---------------------Net profit---Increase over 2007
ExxonMobil--------$10.9 Billion ---------17%

Royal Dutch Shell---$9.08 Billion---------25%

British Petroleum---$7.6Billion-----------63%

Chevron------------$5.17 Billion----------10%

ConocoPhillips------$4.14 Billion----------17%

Alan Gaines, chairman of Houston based Dune Energy predicted in early 2007 that oil, then selling in the $50 range, would hit $100 a barel, and that gas prices would climb to $4. Now says the New York Sun, Gaines is predicting oil prices of $200 a barrel and gasoline at $8.

Washington lobbyists are on track to rake in $4 Billion this year, according to an analysis of lobbyist disclosures by Congression Quarterly. That is $1 Billion more than they reported in 2007 says the Congressional Quarterly.

P.S. My 401K keeps dropping and my medical costs keep rising.

2 comments:

Anonymous said...

Do you think the $8 /gal will be the price that forces congress to do something? When will the cost affect their pocketbooks??

23/5/08 7:58 AM
Editor said...

(ADMIN) Who knows how high it will go. I do expect the $$$ to go to $5/gallon though by next year if something isn't done. The problem is cause by those purchasing oil futures on the open market. They are speculating that there is an oil shortage where there is not one. Thus paying more for something even though the supply is plentiful still causes the consumer price to increase. Think about it - when you go to buy fuel the stations are not out of nor low on the supply of gasoline.

23/5/08 10:51 AM

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When I was 5 years old, my mother always told me that happiness was the key to life. When I went to school, they asked me what I wanted to be when I grew up. I wrote down ‘happy.’ They told me I didn’t understand the assignment, and I told them they didn’t understand life.~ John Lennon
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