Paragon is dead on with this.
If pure supply and demand explain price increases, it SHOULD adjust downwards quickly also, when the "emergencies" are removed (as others have stated).
The above article seemed to be geared to "calm" consumers anger over retail gas stations' prices (
-- "In contrast, distributors, marketers, and retailers receive just a penny more than in 2004"). The complaint here is against ExxonMobil, not individual gas station owners.
The point of how many billions was costing the petroleum industry to comply with regulations is IRRELEVANT simply because the $9.9 billion profit has absorbed any and all such costs (hence,
PROFIT).
Housing price inflation is NOT the least bit comparable. As others have also stated, you have a choice of other houses to buy, no real choice about other means of auto fuel (at least none economical). Too, the increase in housing pairs with many increases in living standards (more spacious rooms, attached garage standard, better insulations, upgraded wiring, better fridge, etc.). In what way does today's expensive gas improve my living standard? Last, housing cost is an INVESTMENT. You can recoup (even at some lost if necessary) when you sell. How you gonna get back your gas EXPENSES?
Remember, $9.9Billion is profit of
JUST 1 GAWD-DAMN COMPANY (record for any company in any industry in the US). Isn't the close second place running another $9+billion profit?!
