25 Mar 2012 - Thanks for Your Comments

Earlier this month on Samuelson Sez, I titled my commentary “Enough is Enough”. It was directed at the oil companies, blaming them for the sharp, unwarranted increase in the price of gasoline, diesel fuel and other energy products. I stated that I did not accept the reasons given by analysts or oil spokesmen because I felt the only reason for the price increase was to put more dollars on the bottom line and I pointed out their recent earnings reports certainly indicated that with record profits.

Well, not all of you agreed with my conclusion. I heard from one reader who titled his response “Don’t Blame the Oil Companies” and went on to say . . “the value of the dollar is the problem . . .with all the QE1 and 2, the Fed, the stimulus, the bailouts; the value of the dollar on the world market is about half of what it was 2-3 years ago. That is the reason for the price increase; the value of the dollar, not the oil companies.”

This from another reader. . . .“Politics are pushing gas prices up to get people into electric cars for the green energy thing, and second, the government is ensuring that the oil companies do not lose their profits by the DECLINING DEMAND OF GASOLINE and a possible revision in their taxes!! The oil companies are losing money on the lost demand for heating oil this warm winter and believe it or not, we farmers have reduced our demand for fuel by conservation tillage and other measures to protect our profits as well. Also, to build up the money coffers of the oil companies by raising gas prices, they are saving for the day when they will have to pay a fair percentage share of taxes that we are required to pay.”

Ah, but then there is this reader who said. . . “I loved your editorial on Enough is Enough. You hit the nail on the head. . . I really wish the President and Congress had to go each week to their neighborhood filling station and fill up their car AND then pay for it, not with a government credit card but have to open their wallets and purses and pay with GREENBACKS - U. S Dollars. I would like to see them worry about having enough money left after filling the gas tank to buy food and milk for the kids.”

Well, thanks to you for again responding to my comments on Enough is Enough. You can always share your thoughts on any of my comments at this e-mail address orion@agbizweek.com. You never know when I will share your thoughts on…

Samuelson Sez