Oil executives were summoned to the Senate today to discuss the rise in prices of oil. The Oil Executives defended prices stating that prices are set based on supply and demand. They stated that supply was tight and demand is up across the world causing prices to increase.
The Senate’s stance was that Americans were hurting in the pocket book as the average cost to fill up the gas tank is $60 and the big Oil Companies are generating record profits, $36 billion in just the first quarter of this year.
It’s ridiculous that these Oil Companies are generating these type of profits when the average person can barely afford to cover their monthly expenses as the price of gas, food and utilities keep rising! When will the government step in and demand the Oil Companies make changes to drive down the cost of gas? When will the government force Saudi Arabia to produce more oil? Something needs to change and quickly, we just cannot afford to keep paying these prices for gasoline!