| Council Member Join Date: Sep 2005 Location: Michigan, Near Detroit Posts: 1,030 Level up: 55%, 90 Points needed |  |  Quote: |
Originally Posted by Jefferson The price of gas is NOT going down because people are NOT conserving.
Despite $3 per gallon gas, Americans are buying more gas than ever before.
BP and the other gas companies are simply cashing in on our stupidity. | I'm not certain this is the case. This article claims that Americans are consuming less gas in the first half of 2006. The article does claim that record amounts of gasoline are being imported, however this import is apparently due to the need to offset the lack of gasoline being produced in domestic refineries after hurricane Katrina destroyed a few. These imports are not due to increased gas sales. Ah, here is the link to the article: http://www.marketwatch.com/News/Stor...CB%7D&keyword=
And here is another article which talks about the profits of ExxonMobile in the first quarter of 2006: http://www.msnbc.msn.com/id/14056592/
What these articles tell us is that while gas sales in the US dropped 1.3%, ExxonMobile's profits increased by 12%. This increase in profits does not appear to be caused by increased gas consumption in the US. -Jaxian |