Oct 21 2008
The Biggest Price Gouger In US History
Today the price per barrel of oil is less than 1/2 what it was a few weeks ago. This comes as a well needed sigh of relief to the US citizens only to be short lived by word from OPEC that they may cut production saying there is too much oil in the market raising prices once again.
If you are wondering how OPEC even came about, you may want to read this article from the New York Times. I myself found it very interesting to find out that OPEC ”in my opinion, is the BIGGEST price Gouger in US History”. One of the definitions for gouging is to extort from, swindle, or overcharge.
They are driving up prices for their own gain with a product that they know we have no other choice but to buy. Another way of putting it is like this, snow storm hits SC and the only gas station in walking distance is selling Kerosene for heaters at $8 a gallon while only a few miles up the road it is $2 a gallon. You can’t drive your car because it is snowed in so you have to pay the $8 a gallon.
Now if I am correct than this practice is illegal in the United States. So my main question is why are we allowing OPEC to do this? Well it might be that we have no other choice. When is our Government going to get serious about other drilling options as well as other energy sources? Going green is a good choice but we need drilling now for the short term. Lindsey Graham wants to explore other American resources. Jim Demint signs the drill now act. James Gresham Barrett is for alternative energy resources.
