Exxon Mobil / Conoco / Amerada Hess etc Complaint - Price of Gasoline - Gasoline Prices... Who is to blame?
USA, NEW YORK -- There are quite a few extraordinary and knowledgeable posters on this site so I pose the question, Who is actually to blame for the current rise in the price of gasoline?
The easy marks are the oil companies (ie Exxon Mobil's latest quarterly profit of $8.3 Billion). But there are so many other variables involved: deleting MTBE (state and federal government regulations) and substituting it with ethanol (and the further cost to refineries regarding the manufacturing of ethanol)...OPEC and the instability of oil-producing nations? Katrina? Our burdensome dependence on oil? SUV's? The war in Iraq?
Personally, I believe the oil companies should be re-investing their staggering profits on 2 things: Building new refineries and research regarding fuel alternatives. I doubt that will happen, though. OK, so what are your thoughts?