Our lackluster attitudes towards unbelievably high gas prices seems to suggest the American people are perfectly fine with $5 a gallon car gas and $7 a gallon AvGas and Jet A. And if Big Oil continues their unchecked plundering of our economy, that is precisely what we'll get.
Around the world, we are at "war" with some parts of the Middle East, while other parts of that region languish in mountains of cash as high as an A380's lavatory. If you are sick of this, you are not alone. There are finally a few rumblings saying a probe to determine the cause of this is long overdue. From consumeraffairs.com:
Record profits that major oil companies reported recently are prompting demands from politicians in both parties for an investigation into consumer gouging as gasoline prices spiked after the Hurricanes Katrina and Rita. ExxonMobil Corp. reported $10 billion in net income in the third quarter, the largest ever by a U.S. energy company. ExxonMobil's earnings announcement that profits rose 75 percent from last year followed a BP announcement of $6.5 billion in profits, up 34 percent and ConocoPhillips reporting its income grew to $3.8 billion, up 89 percent.With Bloomberg.com keeping watch daily, a barrel of dead dinosaurs is now hovering dangerously close to $100 a barrel. And while American soccer moms are forced to choose between buying their kids food or filling the family minivan, Emirates Airlines – flying from a country flush with oil profits and cash – is going on a spending spree, according to ANN:
Shortly after the Exxon Mobil announcement, while he was standing on the floor of the New York Stock Exhange, Senate Majority Leader Bill Frist (R-Tenn.) called for congressional hearings and investigation into oil company profiteering. "If there are those who abuse the free enterprise system to advantage themselves and their businesses at the expense of all Americans, they ought to be exposed, and they ought to be ashamed," Frist said.
Emirates announced on November 11, that it has agreed to spend $34.9 billion on new aircraft. These orders with Airbus and Boeing are the largest-ever aircraft commitment in civil aviation made by any airline in a single order. The deal was announced at the Dubai Airshow and includes 120 Airbus A350s, 11 A380s, and 12 Boeing 777-300Ers. Emirates also firmed up orders on the eight A380s which it signed letters of intent for earlier this year, and placed firm orders for an additional three of the double-decker aircraft, bringing its total firm order for the A380s to 58.Since 2003 when BushCo choose to invade Iraq, Dubai is rolling in cash, at about the same exact time oil prices go off the freakin' charts. According to the following quote from the ANN story, some in Dubai's airline industry want us really to believe they never saw this flood of cash coming. Uh. Huh.:
"In 2003, our plan was for Emirates to have 100 aircraft by 2010. We have already surpassed that target," said HH Sheikh Ahmed bin Saeed Al-Maktoum, Emirates' Chairman and Chief Executive. "Growth and demand has exceeded the most optimistic projections."As per usual, this garbage reaks. As if on script, you can expect the price of oil to continually rise as we approach the end of Bush's term. And if [when] he and his GOP cronies lose their death grip on America's middle class, the incoming crew might actually do something about suspiciously high gas prices. If that happens, expect these record airliner orders from the likes of Emirates to go away.