My dad currently is a vice-president for an oil company and I have been nicked named an “Oil Brat” just because people think that when gas prices go up that means my dad gets a bonus or a raise. Just to let those people know, he doesn’t. Sometimes, he even gets a deduction because the company wants to keep the price of gas down. We also have to pay the same price everyone else does to fill up our cars; we don’t get our gas for free.
The reason that the gas prices are going is because of the sellers raising the prices, and hurricane Ike. My dad’s company buys from Saudi Arabia like most companies. The oil business’s currency is American dollars, so when our exchange rate with the Euro and other currencies gets worse for us, these buyers want to keep selling the same amount they did before the dollar depreciated, so they charge us more to keep making a profit. Then there is hurricane Ike; while in Houston, he knocked out 14 out of 17 refineries, the place where they make the gas. They are currently working to keep up capacity. So next time when you think that mean oil companies are jacking up the price because they want more money, just remember they are paying the same as you! So stop complaining.
1 comment:
Interesting post; it's good to hear the perspective from the other side. Also, the consumers have more power than they think in keeping the cost down. Right now, the cost of oil by the barrel dropped, and the reason is that consumption of gas has dropped to 1999 levels. If peopel would stop demanding so much gas, the prices would stay down. So keep those Hummers in the garage.
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