Last week, I wrote an essay on the MSM disagreeing why gas prices were rising. “As Gas Prices Rise, MSM Disagrees Why Prices Are Rising - Updated” Today, the Associated Press released an article which is posted (excerpts below) that sheds even more light on this issue, although not in the detail that was provided by MSNBC.:
Crude oil is getting cheaper — so why isn’t gas?
By CHRIS KAHN and JOHN PORRETTO, AP Energy Writers – Sun Feb 15, 12:31 pm ET
NEW YORK – Crude oil prices have fallen to new lows for this year. So you’d think gas prices would sink right along with them. Not so.
Right now, in an unusual market trend, West Texas crude is selling for much less than inferior grades of crude from other places around the world. A severe economic downturn has left U.S. storage facilities brimming with it, sending prices for the premium crude to five-year lows.
“Drivers are being ripped off even more now than before,” said Stuart Pollok, who was filling up recently at a Chevron station in downtown Los Angeles. He pointed out Exxon Mobil Corp. reeled in billions in profits last year when oil prices neared $150. MUCH MORE
In the article posted by MSNBC which is quoted above, speculators were cited as one of the reasons for the price increases. The American public is tired of being gouged; in this economy, every penny counts, and gas is a commodity that each and every American that own a car has to buy, so naturally, it is a target for greedy Wall Street speculators who have already been responsible for a lot of our economic woes. It’s time to restore confidence in our government, and halting the price gouging for gasoline, spear-headed by the government would do a lot to help restore confidence in our own government.
Please act on this issue - and now, before they artificially inflate the prices even more. Don’t depend on the AP article to form your opinion, and please read the in-depth article provided by MSNBC to form your own opinion. It’s high time that the government start protecting the American consumer - and this is an excellent opportunity for the government to demonstrate they are attempting to offer much needed help to the American consumer and will help everyone in these dire economic times.
Most Americans no longer trust our own government; this is an issue the public would instantly appreciate and will work to again instill the confidence in Washington that has been lost during the Bush/Cheney years. Every patriotic American alive will appreciate any efforts by our government to begin much-needed confidence building in our governmental agencies - so please don’t let us down again!
William Cormier
Footnote: The link to the MSNBC article is contained in “As Gas Prices Rise, MSM Disagrees Why Prices Are Rising - Updated”.
