Gas prices. WTF?

[Damn True]

The gas companies continue to make record profits and charge us more at the pump. Take a look at Yahoo Finance for exxon, chevron and valero income statements. It is sickening.

C'mon pal. Look deeper than what some talking head on Network TV tells you.

First, learn the difference between profit margin and gross profit.



Then consider this:

The top 5 oil companies in the world are:
1. Saudi Aramco
2. National Iranian Oil Company
3. PeMEX (mexico)
4. Citgo (Venezuela)
5. Exxon/Mobil (United States)

There is only one US company even in the top 5. Exxon/Mobil produces about 90% LESS oil than Saudi Aramco and holds only a 3% GLOBAL market share.

The reason your gas prices are high and getting higher is that there are over 3000 more cars on US roads every day and there are over 500 times more vehicles on the road in China that there was just 3 years ago. The demand is up, the supply is largely stagnant. You want to be pissed at someone and I understand that. But don't be pissed at the oil companies, be pissed at those who prevent US oil companies from exploring and producing oil on our shores.

There has not been a refinery or Nuke plant built in the US in over 30 years. More nukes would mean less oil used to create electricity and more available for motor-fuel. More refineries would lower the oil companies costs and allow them to increase production and therefore supply.