The post linked below is from Michael Williams, Chairman of the Texas Railroad Commission, which regulates oil and gas in Texas. It helps put things in perspective.
Who’s making money from these high gasoline prices?
May 18, 2008
Who’s getting fat from higher crude oil and gasoline prices?
The Saudi, Russian, Venezuelan, etc. nationalized oil companies. They own 75% of the world’s crude oil reserves. Exxon, the veritable villain for high gasoline prices, controls less than 3% of world reserves.
The pump price is comprised of four components. The main one is...(complete post here).
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Get real! NET PROFITS logged by oil and gas last year were:
$400 BILLION DOLLARS
Williams isn't fooling anyone with this bologna.
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