Friday, May 27, 2011

Why is Big Oil getting record profits?

Ask Ida

Dear Ida B. Green,

I hear Idaho has the lowest gas prices in the country. Yikes! How can oil companies still show record profits?



Dear Penny,

The price of gas is a reflection of supply and demand as much as business costs. And the price we're paying now still doesn't cover the hidden costs that we know pile up every time we drive our cars to the post office for our daily mail or to the grocery store for a carton of milk. The environmental costs of drilling (remember the Deep Horizon catastrophe that's still being felt in Gulf communities), transportation (think Exxon Valdez leaks as well as the fuel burned to transport any crude), toxic emissions that settle into the various layers of our atmosphere as we fill up our tanks and drive away, and the wars we continue to wage in petroleum-producing countries all should be taken into consideration when considering the true cost of gasoline.

Gasoline is the incredible and finite result of solar energy, heat, pressure and time that has no equal in its power and versatility. Yet we tend to squander it on menial tasks that can easily be accomplished by turning off the ignition and finding a more energy-appropriate way to accomplish our daily errands.

Recognize the true price of gas and think twice before driving.

Keep it Green,


—Elizabeth Jeffrey

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