Monday, July 30, 2012

Economic Indicators

Is the price of gasoline your primary economic indicator? Are you fed up with our seeming near total dependence on OPEC's control of the oil spigot; the supposition the oil companies are gauging us at the pump in obscene profit taking; that the world is on the verge of depleting the supply of this precious and essential liquid?Think again! Now,I'm not about to site an abundance of evidence to the contrary, evidence that is readily available to us all, and essentially above refute, but in a sound bite let me simply say: We are not going to run out of the stuff in the foreseeable future, in all probability oil and it's derivatives will be long obsolete before then in the emergence of more efficient fuels. Further unequivocally the greatest beneficiary of gas pricing is our government! The oil companies profit margins are minuscule in comparison to locale, state and federal levied sales and excise taxes! And, here in the United States let's not forget our supply of domestic oil is heavily government regulated, curtailing oil exploration and the essential processing and distribution of it's byproducts! Government has a win/win participation in the fortunes of our oil supply..., It's the only participant in the mix that profits whatever the economic circumstances of supply and demand, whatever their effect on we the consumers! (Tobacco,another contradiction in fact, save for the health issue!)

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