Could a spate of refinery mergers under the Bush Administration (reducing the number of refineries in America and allowing the top four a 67 percent share of the market on the west coast and control of 77 percent of the gasoline market on the east coast) worth 19.5 billion dollars be what is allowing our consumer gas prices to top two dollars a gallon?
As the article points out it may be easy enough for these energy concerns to lower gas prices by election time; they just need to refine more product- and being both major contributors to the Bush campaign as well as major beneficiaries I'm sure the can find it in their collective corporate hearts to do so. Record earnings for the first quarter ought to lessen the pain of lowering prices to ensure their benefactor's election. It seems counter-intuitive that if rising oil prices were the only reason for higher gas prices that oil company profits would skyrocket so.
Mr Bush, as Bob Woodwards book "Plan of Attack" points out, is shameless about conspiring with a foreign power to effect our Presidential election this fall- Prince Bandhar of Saudi Arabia has pledged to get gas prices lower by an increase of oil production.
When is Michael Moores film "Fahrenheit 9/11" coming out? .
Post a Comment