I don’t have to tell you about gas prices. Average price for unleaded regular now $3.86. A lot higher in many states.
And here’s what makes it harder to swallow. At the same time, oil companies this week are expected to report all-time record high profits: Exxon – up 56%
Occidential – up 35%
Chevron – up 29%
Problem is, these companies think that if they make 60% higher in profits, they can charge us 60% more at the pump. They’ve got it ass backwards. They should be giving us a break, instead.
But if they won’t give us a break – then, as President Obama proposes, we should stop giving them a break, too.
There is simply no reason to continue giving $4 billion in subsidies to oil companies. None. It makes no sense.
Sure, they might have needed those subsidies, years ago, when they were struggling. But that’s clearly no longer the case. Now it’s alternative energy companies who are struggling – and should get the subsidies, instead.
Nothing wrong with oil companies making big profits. But here’s the question: If they ARE making such big profits….why are they still on welfare?
That’s my parting shot for today.