I read a blog written by a business man in the computer industry and he was rationalizing why the oil companies were justified with charging these high prices for a gallon of gasoline. His rationale was that the oil companies were only getting 6% to 9% profits and this was not a high percent of profit.
The percent of profits may not be high but considering the amount of gasoline sold as a necessity and also considering how much support that the government gives the oil companies I don't belive that any of the oil companies will be filing bankruptcy any time soon.
The common persons budget can not afford to pay these soaring gasoline prices. The problem being even if everyone cuts their driving to the bare necessity the oil company profits do not suffer because they have increased the price high enough to compensate for the lack of gallon sales.
I would appreciate any comments or thoughts.
C. Oxford
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