Who’s making the big profits from rising gasoline prices?
ByThe other morning I was reading a CNN article on Nobosh and Digg about who really makes money from the high gasoline prices.
It talked about how the station owner only receives a few cents on each gallon, something I thought everyone already knew since it’s been a “news story” several times before.
The bottom line is, surprise – the oil companies make the most money.
While I would love to jump on the “blame big oil for posting huge profits,” band wagon, in reality all they’re doing is what any smart business would do. Sell to the highest bidder.
If it were Amazon.com or Starbucks or Toy R’ Us, who posted record profits, everyone would cheer.
But because it’s “big oil” and concerns a product that we, at least in the United States, believe we can’t live without, we look to place blame.
As much as I am appalled by the profit gouging that’s taking place, I’ve concluded there are really only two things we can do and I strongly suggest doing both.
The first one is something I have written about before is to find ways to earn more money. That is what prompted my writing my newest book Stop Living Paycheck to Paycheck.
The other thing that we can do is to find ways to become less dependent on oil in the first place.
We can use public transportation where possible, car pool to work, explore energy alternatives like solar and support government subsidies for alternative fuels and alternative fuel research.
Pennsylvania has a bill in the senate right now which I am proud my State Rep., Margaret Quinn voted for, which will give individuals and businesses credit for installing energy saving devices.
Thank you, Ms. Quinn.Do what you can to become less addicted, yes we are addicted to foreign oil and, at the same time, start adding income streams to increase your income so that you won’t continue to be held hostage by the price of gas.
