Finally the truth slips out - It's all about the oil

Discussion in 'Politics' started by bsmeter2, Nov 5, 2006.

  1. People are mad because the price of gasoline has gone up. They want cheap, cheap oil so they can drive to work alone in a car instead of car pooling or taking public transportation.

    Oil has not even come close to peak oil prices adjusted for inflation.

    June 1979 monthly average peak = $100.52 per barrel in June 2006 dollars.

    June 2006 monthly average oil price = $62.85 per barrel.

    http://inflationdata.com/inflation/Inflation_Rate/Historical_Oil_Prices_Chart.asp

    Business Week Magazine examples of 2005 profit margins:

    Banks 19%
    Pharmaceutical 18%
    Software 14%
    Household products 13%
    Real estate 10%
    Energy companies 9%
    Insurance 8%
    All industry 8%
     
    #21     Nov 8, 2006