There's this HUGE PR problem for the Oil Industry
It is that they cannot show that the "COST" of extracting, and refining oil into gasoline or other products has risen commensurately with the explosion in the "PRICE" of those products. Because it hasn't. Most of the world's oil today 'costs' today pretty much what it cost 5 years ago, before the Gibbering Chimp and his lackeys started their war against dandruff...errr, terror...errrr, truth.
Instead, they must pretend that mere, "wild speculations" (as the Gibbering Chimp exclaimed of news last week of Rummie's imminent replacement) about possible interruptions of supply, or possible disruptions in refining capability, or possible fluctuations in market conditions justifies their gouging consumers/citizens at the pumps...
But this is just that: a pretense, upon which record profits for the producers and distillers depends, and a pretense which will be amintained against all criticism for the conceivable, foreseeable future...
1 day ago