Another Day, Another Post About Oil & Gas Prices.
++ Remember this when you fill up your tank today.
Exxon Mobil Corp. reported $8.4 billion in first-quarter profit yesterday, as members of Congress outraged over high gasoline prices hastened to propose measures that would boost taxes on oil firms, open new areas to drilling and provide rebates to taxpayers but would not necessarily alter prices at the pumps.
The earnings outstripped the oil giant's profit in the first quarter of last year. Given current oil market conditions, analysts said, that puts Exxon Mobil on track to break the $36 billion record profit it made last year.
That seriously makes me want to gut-punch some Exxon CEO's.
++ MSNBC asks, are profits really out of line?. YES, idiots!
++ BBC's Washington Diary explains to Brits, "Petrol is the new indispensable staple and the $3 gallon is to America what the over-priced potato once was to Ireland." That's actually a pretty accurate way to describe the situation.
++ Speaking of Brits. While we're over here bitching about $3 a gallon, they're paying almost $7. Gas (petrol?) prices in Europe have always been astronomic compared to in America, but now...
But even in Europe, where consumers are used to paying pump prices double, or more, what Americans pay, there is growing alarm over the effect of rising crude oil prices on fuel costs.
Many motorists are driving less and altering the way they shop, take vacations and carry out other routines, according to interviews and opinion polls. Many airlines, delivery services and other fuel-dependent businesses are either passing increases on to consumers through higher prices or taking deep profit cuts.
Andris Piebalgs, the European Union's energy commissioner, warned last weekend that high oil prices were "destroying economic growth" in Europe.
One important thing to note though - many European countries have MUCH better public transportation and cities that are actually walkable, whereas in America we only have a couple cities with decent alternatives to driving, so gas prices hurt us a lot more.
A lot more Americans *would* be taking public transport if it was available right now, believe me.
Exxon Mobil Corp. reported $8.4 billion in first-quarter profit yesterday, as members of Congress outraged over high gasoline prices hastened to propose measures that would boost taxes on oil firms, open new areas to drilling and provide rebates to taxpayers but would not necessarily alter prices at the pumps.
The earnings outstripped the oil giant's profit in the first quarter of last year. Given current oil market conditions, analysts said, that puts Exxon Mobil on track to break the $36 billion record profit it made last year.
That seriously makes me want to gut-punch some Exxon CEO's.
++ MSNBC asks, are profits really out of line?. YES, idiots!
++ BBC's Washington Diary explains to Brits, "Petrol is the new indispensable staple and the $3 gallon is to America what the over-priced potato once was to Ireland." That's actually a pretty accurate way to describe the situation.
++ Speaking of Brits. While we're over here bitching about $3 a gallon, they're paying almost $7. Gas (petrol?) prices in Europe have always been astronomic compared to in America, but now...
But even in Europe, where consumers are used to paying pump prices double, or more, what Americans pay, there is growing alarm over the effect of rising crude oil prices on fuel costs.
Many motorists are driving less and altering the way they shop, take vacations and carry out other routines, according to interviews and opinion polls. Many airlines, delivery services and other fuel-dependent businesses are either passing increases on to consumers through higher prices or taking deep profit cuts.
Andris Piebalgs, the European Union's energy commissioner, warned last weekend that high oil prices were "destroying economic growth" in Europe.
One important thing to note though - many European countries have MUCH better public transportation and cities that are actually walkable, whereas in America we only have a couple cities with decent alternatives to driving, so gas prices hurt us a lot more.
A lot more Americans *would* be taking public transport if it was available right now, believe me.