With Exxon posting record profits it has brought me back to a rant I have had for several years as I have seen several oil companies posting record profits.
Some would argue that we would cheer on a company in a different industry if they made profits like this, even if their product is more expensive. The problem is that we can't choose not to buy gas for the most part. They could charge us anything they wanted to. I pay for the gas not just for my car, but also for the gas of companies that I buy other products and services from, since they are forced to raise their prices when gas prices are up. Unfortunately I don't get to charge my employer a higher rate if gas goes up in price.
The auto companies are being slow to get alternate fuel vehicles to market. The gas-electric cars are such fluff. You are still using gas and not really using that much less of it.
Where is the competition? Where are my choices?
I guess Exxon has more than made back the cost of the clean up of its oil tanker. My guess is that even before gas prices took a spike they made back that cost in the first few weeks after the accident.