Why Isn't A Gallon Of US Gasoline At 99 Cents ?
Seriously ? Our Federal Lawmakers want to raise Gasoline Taxes another 12 to fourteen cents per gallon ? Really ? The already average price of gasoline in America is $3.68 per gallon. This is the highest summertime price for a gallon of gas in six years. Is there a major problem why much of America hasn't seen prices below $3.00 per gallon since Obama took over as President ? Is Obama the only problem ? Lot's of questions, I know. Truth told, there are many factors why gasoline prices are so high and throughout this article, I will be discussing those issues and bringing forth a solution by the end as well. My real hope is that America will wake up that indeed, they have the power to bring the price of gasoline down to .99 cents per gallon(or less !).
Were you aware that there is an oil boom occurring in America ? Yep, through a process called “fracking”, oil and natural gas are both being captured from under ground and oil companies are so efficient in gathering oil with this process, America is now exporting our oil to other nations http://money.msn.com/ways-to-invest/why-the-us-is-sending-oil-overseas-jim-jubak. As a nation, we produce 8,453,000 barrels of oil per day. Our consumption as a nation is approximately 18.9 million barrels per day, so we need to import about 10 million barrels of oil per day for our gasoline and other uses. With those facts in mind, it makes no sense at all however that as America continues to produce it's own oil at a greater rate each month, but prices of gasoline at the same time continue to rise here. Obviously it costs U.S. oil companies much less to gather and refine oil to manufacture gasoline here than it does for imported oil from other nations. Speaking of oil companies, it doesn't appear that U.S. Oil Companies can utilize loss of revenue as an excuse for keeping gasoline prices artificially high here as they have. Looking at the top 5 oil companies here in America, last years(2013) profit margin was in the amount of $93 Billion Dollars. That's “B” for “Billion.” Can you imagine making $177,000. per Minute profit ? Well that's how much money U.S. Oil Companies made last year... http://americanprogress.org/issues/green/news/2014/02/10/83879/with-only-93-billion-in-profits-the-big-five-oil-companies-demand-to-keep-tax-breaks/.
So with U.S. Companies making so much money... it must be that more and more Americans must be using gasoline every year to justify such high prices at the gas pump, correct ? No, actually, the US is consuming less gasoline then in the past(see http://ourfiniteworld.com/2013/01/31/why-is-us-oil-consumption-lower-better-gasoline-mileage/). Surely Congress is well aware of the high prices of gasoline and will force U.S. Oil Companies to lower prices as some point ? I mean gasoline prices are out of control and with Congress wanting to add a 12 to fourteen cents per gallon gasoline tax, prices are sure to fall due to public pressure ? Don't count on it. Were you aware that Oil Company's used Lobbyists and others to bribe, sorry, I mean convince your Congress Members to keep oil prices artificially high here by paying out to Congress in the tune of nearly $145 Million Dollars last year ? Yep, check it out... . So can we expect some sort of relief coming at the gas pump ? No, not in the foreseeable future.http://www.opensecrets.org/lobby/indusclient.php?id=e01&year=2013
Most folks are unaware that Wall Street has their hands and interests in keeping gasoline prices manipulated high as well. Oh sure, your 401k retirement account does get a few extra dollars each month when invested in oil company stocks but unless you ride a bicycle or a horse when traveling, the few dollars added to your retirement account each month(if it's still there when you do retire) however does not makeup for the hundreds of dollars in artificially high gasoline prices at the pump you pay every year. How else does Wall Street add to high prices of gasoline ? Oil is traded on the market as a “hard commodity.” In the world of Wall Street, oil prices is forcasted in “futures” and there are “speculators” who influence the price of a barrel of oil. Therefore, simple supply and demand of oil has nothing to do with oil prices unless there is what speculators see as “a shortage” which may or may not constitute a “shortage” of oil at all. Also, if speculators see something in the news that makes them a bit itchy or nervous for any reason, such as wars(even in a non oil producing nation), the price of oil and gasoline at the pump goes up and usually right away although the actual price of a barrel being traded today is 30 days or more out. Perhaps you are asking yourself, “surely, this can't be legal ?” Yep, it's all legal. Your President, Congress(Republicans AND Democrats), Judiciary have made it all perfectly legal to those bribes, sorry again... I mean legal influence that oil companies have upon members of congress and others who make lot's of cash protecting wealthy U.S. Oil Companies.
If oil was no longer traded on the Wall Street... Congress, The President and Judiciary stopped taking money from oil company lobbyists and the U.S. Oil Companies weren't so greedy, indeed gasoline prices here in America would be at .99 Cents per gallon. Is that to much to ask ? Apparently it must be to much, because Americans by and large know most if not all of what I have shared throughout this article but just choose to ignore these issues and do nothing to stop lobbyists from bribing, whoops.... sorry once again, I mean financially influencing our Government leaders. We can't boycott oil companies, after all most of us need our gasoline almost as much as we need food and water. As Americans, we have the right to have our (on U.S. land)oil drilled or fracked, to remain in this nation and not exported. It is our resource and we demand that its stays here. We also demand realistic gasoline prices that reflect supply and demand and that oil is no longer traded as a commodity. Americans would do well also to stop electing Government leaders who are immorally influenced by companies who are only interested in greed.
Gasoline prices can come down and must come down but you must be willing to expose and remove evil and corruption at every turn. Artificially inflated prices of goods and services is not “Capitalism.” No what we see with American Oil Companies is Crony Capitalism that relies on something worse than greed, it relies on a few others with power to rob the majority(through corruption) to make their own lives rich. That is evil in it's purest form. Give us our .99 Cents per gallon Gasoline NOW !
1 Timothy 6:10 “For the love of money is a root of all sorts of evil, and some by longing for it have wandered away from the faith and pierced themselves with many griefs. “
Rev. Paul P. Waldmiller~Black Robe Regiment Pastor