Fuel For Thought
by Virato

Driving down Lee Highway from my mountain home the large gasoline station at Race Trac in Ooltewah looks more like a Vegas casino with a big slot machine with a price sign out front. Watching the numbers go around daily, somehow I get the feeling that I am not going to be a winner! Economists say it could top $3 a gallon by fall!

Energy prices are skyrocketing across the nation, not just in East Tennessee, yet Washington is apparently doing nothing, and why should they with Mr. George "Oil" Bush at the helm. And it's not only fuel oil, it's electric power, and natural gas as well. Energy producers are taking huge windfall profits, while consumers and taxpayers are given the shaft.

Enough is enough! The energy markets are controlled by a small number of companies -- Duke, Enron, Dynegy, Reliant, etc.--which supply local utilities, like the Chattanooga Power Board throughout the country with gas and power. These companies are so big, they are more like monopolies than players in a price competitive market. Their irresponsible behavior calls for a strong federal hand. They, along with the oil companies and pharmaceuticals in turn are linked to the Illuminati, the International, metaphysical cartel whose origin dates back to Ancient Rome!

In California alone, these companies and their affiliates have already overcharged by more than $6.3 billion.⁽¹⁾ If nothing is done, the number is expected to rise to as much as $70 billion.⁽²⁾ That's $2,000 for every man, woman, and child in California. This may be the biggest scam ever to hit the U.S. -- dwarfing the Savings and Loan mess of the 80s. Yet FERC, the Federal Energy Regulatory Commission, and the rest of the Bush administration is taking no action.

A new bill sponsored by Senators Feinstein (D-CA), Smith (R-OR), and Lieberman (D-CT), would direct FERC to set temporary "cost-plus" rates allowing wholesalers to charge a reasonable rate of profit, not the excessive premiums they are now charging. Voice your support for this important bill by calling or writing your elected Washington officials today. We cannot let this go unchallenged.

Also, be aware of myths spread by the energy lobby. Here are two, with the corrections:

MYTH: Rising demand in California HAS NOT created the problem.
TRUTH: California's monthly peak electricity demand actually declined in July, August, October, and December of 2000 relative to the same months in 1999 ⁽⁴⁾.

MYTH: More drilling and relaxed environmental standards necessary.
TRUTH: Opening new domestic supplies (including the Alaskan Wild Life Preserves) takes decades and only adds months of additional supply.⁽⁵⁾ Increased efficiency, immediate investment in renewables, and market stabilization are the only short term answers.

Here are some other interesting bits of information for you to ponder as you glide up to the pump next time. Exxon/Mobil posted a 51% profit of $5.12 billion…a quarterly record for any US corporation…ever! Conoco posted a 58% profit for the first quarter ($616 million) which was the company's 5th consecutive quarter of record earnings. Chevron's real numbers are due out later this week, but estimates are a 28% increase. Texaco also due out later this week, estimates a 36% increase.

Crude oil average price is $28.67 per barrel--which is dirt cheap, and down 10% from this time a year ago. We are being mightily ripped off and I'm sure they are laughing all the way to the bank!  We need to do whatever we can, and do it NOW!

The following plan of action makes more sense than the "don't buy gas on a certain day routine" that was going around last year. Whoever started this has a good point. By now, you're probably thinking gasoline priced at about $1.49 is cheap. Me too, as it is now $1.58 for regular unleaded! Now that the oil companies and the OPEC nations have conditioned us to think that the cost of a gallon of gas is cheap at less than $1.50, we need to try an aggressive response. With the price of gasoline going up more each day, we consumers need to take action!

The only way we are going to see the price of gas come down is if we don't buy it. But, (as the gas companies know full well, and are counting on), that's not really a practical option since we all have come to rely on our cars. They think they have us by the short hairs so to speak.

Yet, Chattanoogians can have an impact on gas prices if we all act together. Here's the idea: For the rest of this year, don't purchase gasoline from the two biggest companies (which now are one), namely Exxon and Mobil. If you own these credit cards, cut them in half and send back to the company telling them you have chosen to no longer buy their brand. 

You see, if they are not selling, they should be inclined, (i.e., "forced"), to reduce their prices. And, because of their size, and hence market share, if they reduce their prices the other companies will too. (They would have no choice!). Isn't that a "juicy" prospect? Acting together we can make a difference. Hold out until they lower their to below $1.25.

If you're not outraged, you're not paying attention, don’t drive, or don’t eat food transported by motor vehicles!

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