Say it Ain't So!!!

Hurricane Dean is ravishing the Yucatan Peninsula. As this is being written we still have no clue whether it will eventually reach the coastline of the USA. Furthermore, if it does reach the USA, we have no idea what strength it will redevelop after its Category 5 attack across the southern Caribbean.

But why wait. After my morning walk and a trip to Speedway for a cup of coffee, I noticed that the gasoline industry was quick to respond with an overnight 20 cent price increase. The oil industry is a "first responder" of the highest degree. Its not a matter of waiting to see if an environmental catastrophe will have an impact on its business. No, its a forgone conclusion that action is necessary to maximize its profit no matter what the circumstances.

I almost believe the oil industry has adopted the philosophy of the Israeli military. Israel has long had a policy of attacking an enemy after any and all attacks. Retribution is a necessity for a nation that is completely surrounded by enemies and must be on guard for attacks that could jeopardize its existence.

Thus the oil industry has taken the same approach. It doesn't take a rocket scientist to realize that the oil industry's days are numbered. Many of us may not live to see it, but oil is not a renewable resource. When it is gone, it is gone!! So the oil industry has become proactive considering its present existence. Gain the profit, as much profit as it can, is now the philosophy.

And what does that approach do for the oil industry. Well last year the oil industry enjoyed its largest profit ever. A profit that doesn't seem justified. After all, with the oil industry winding down in terms of existence, it has not built a new refinery in years, which would help eliminate reported gasoline shortages. Honestly, some of an industry profit is typically turned into improved or more modern facilities. I don't see that happening unless you count the nice new neighborhood convenience store that offers gasoline, but also robs your wallet with overly priced grocery items that are "conveniently" located on site when you purchase gasoline.

My feelings about the oil industry is rather apparent. Yes, I buy gasoline. I have a gas-guzzling pickup truck. I like my truck. Would I consider a smaller vehicle? Maybe. Will I continue to buy overly priced gasoline? Of course! Do I believe we are all victims of price gouging? Certainly.

Case in point. The hurricane season is just now beginning its possibly vicious seasonal attack. How many more catastrophes can the oil industry capitalize on?