Posted by Tina
Putting Up The ‘For Shale’ Sign, by Investors Business Daily
Exxon Mobil is selling its gas stations because there’s no money in it. Meanwhile, two GOP congressmen do what John McCain should do change their position on drilling in ANWR. ** Despite the pain at the pump for consumers, the retail side of the gasoline business isn’t that profitable, if at all. Gas station owners have known this all along. Most now hope they get enough traffic at their stations to make money on auto repairs or food and drink sales. ** Exxon Mobil, proclaimed by the no-drill demagogues to be the poster child for gas gouging, recognizes this as well, deciding to unload its 800 company-owned stations and an additional 1,400 dealer-operated locations to distributors. ** Still, Democrats will say Exxon and its unindicted co-conspirators still make obscene profits. The fact is that American oil companies in 2007 had an 8.3% profit margin, compared with 8.9% for all U.S. manufacturing. The cigarette and beverage companies’ profit margin was 19.1%. Drug companies made 18.4%. ** Nobody complains about profits made by politically connected ethanol producers such as Archer Daniels Midland. Since February 2006, the congressionally mandated use of heavily subsidized and energy-inefficient ethanol has caused the price of corn, wheat and soybeans to increase more than 200%. Isn’t this price-gouging?
Or better yet..why isn’t this CALLED price gouging? The political uproar is designed to push voter buttons! Dont play that game. Become a wise consumer, a wise voter, and youre less likely to be played for a fool. If enough of us do this one small thing we might just begin to get better representation in our republic!