President Barack Obama Message Board

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Politics : President Barack Obama

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To: Wharf Rat who wrote (21933)	5/18/2008 5:18:34 PM
From: worksinjammies	Read Replies (3) of 149317

At $4.00 gas, how badly are the oil companies ripping us off? How much are they making? 1.50? $1.00? My question as well... On one of the news shows, they ran a story regarding the request to OPEC that they ramp up production in order to help the fuel prices we are feeling in the US. From my recollection, OPEC said they would be willing to increase production, but it was not necessary at the moment because they were filling all their orders in a timely manner. If we are to accept this as true, then where is the shortage? Bush Co. will make the case that it is due to our not building refineries in 30 or so years, etc., but does it make any sense that this would shoot fuel costs to the stratosphere in such short order? Follow the money. I will be anxious to here the corporate profit numbers of the oil companies this year.....10% increase 20%? Since I have no idea how the numbers/supply side works, I would like a good explanation as to where the bottleneck is. I don't think that China of India alone can be to blame, as it appears that the supply has not been disrupted, at least according to OPEC nations.

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