May 10, 2012
Oil Company Profits Behind High Gas Prices
Al Bender, The Tennessean
In response to an April 22 Tennessean column by Richard J. Grant headlined “‘Too high’ prices are a symptom, not a cause of our problems,” I say that “too high” prices are both a symptom and a cause.
Grant’s contention is that President Obama’s blaming of “speculators” for high gas prices is an “attempt to deflect public attention onto an abstract scapegoat.” The real cause of our problems is oil company greed, as illustrated by huge profits. Grant is trying to deflect public attention from the profits of corporate avarice. How could he overlook such enormous returns?
TAGGED: President Obama, profits, oil speculators, gas prices, oil companies