Oil Kills US

Rich Tehrani : Communications and Technology Blog - Tehrani.com
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Oil Kills US

I am not a financial expert but I have a blog and write for a living so that means I can basically sound off on anything that annoys me, will interest you or just makes me feel better to get out of my system. I had to share the following with you. I received two news alerts from MarketWatch. The first one said that Exxon Mobil profit jumps 44% (I recall last year’s profit growth being similar) and now the GDP is growing slower than at any time in the past 2-years.

What does this tell us – again, I am not a finance major – tech, I know, but macroeconomics I don’t -- It tells us we are being screwed by Exxon Mobil.

Am I too naive? Perhaps I am not a “big picture” person. The whole situation seems ridiculous. The economy of the world is linked to this precious commodity and in the last few years the price of oil has mirrored Al Jazerra’s ratings more than anything else. This is not a supply and demand economy anymore it has become “screw the consumer” instead.

Perhaps I am wrong.

I remember the world telling the US we were going into Iraq for Oil. I always assumed this meant the world thought the US would be taking Iraq’s oil for free. Apparently this isnt the case. Well at least the American consumer isnt taking the oil. Oil companies? Perhaps.

The Democrats have really lost their way as of late and the Republicans seem to really be invulnerable. If there is a weakness the Republicans have now, it is the price of oil. A Democrat that is strong on energy and can map out a way for us to reduce oil prices and find alternatives to petroleum should be a shoe-in for 2008. A politician from Texas, regardless of affiliation just can’t do what is needed to lower energy prices.

The concern I have now is that the oil companies have so much money they will be lining the pockets of politicians on both sides of the aisle.

The only savior we can hope for is some hungry start-up in Silicon Valley that comes up with a way to solve our energy problems and doesn’t sell out to big oil.



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