The crisis will be back page news in a week and Americans will get used to $2.75/gal in no time. In the meantime, if someone could explain to me how high crude oil prices translate into record profits in a market system, I'd be beholden.

>>>C'mon Reps (and Defenders of Capitalism everywhere), step right up. Don't be afraid. Answer the question.

This question has already been addresses in some detail on another thread. You may find the answers you seek there.

gas prices

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S.O.S. ------ United We Stand, Divided We Fall

You're only paying $2.75 a gallon, I'm peeved now, we're paying $3.29. Not an economic guru, so I'll leave the question to the economists

Thank you for the link, but it doesn't really answer my question. When my costs go up, my profits go down - at least until the market adjusts. When Exxon's costs go up, their profits go UP. That's the wrong direction in a market economy.

We'll all be paying $2.75 in about two weeks.

I wouldn't hold my breath on that one. We shall see. The summer driving season is too tempting a profit motive to be ignored though.

two weeks huh? shall we mark it on the AWE calendar?

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S.O.S. ------ United We Stand, Divided We Fall

I'm paying only $2.84 now. With the glut of oil on the market, $2.75 doesn't seem like much of a stretch. Maybe . . .