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The Sandwich Shop

These are my thoughts. They are based on what I see going on around me.

Location: Cincinnati, Ohio, United States

I know very little about myself. If I did know myself better, I probably wouldn't be doing this.

Monday, October 17, 2005

Oil Future = Oil Past
Let's say you're a twenty-six year old mom or dad, you've been married for six years, and have a son or daughter in first grade. You are just beginning to feel comfortable with the job you've been working at since you were married and are beginning to feel like you are moving ahead. You think a lot about keeping the whole thing going, while at the same time you think a lot about your first-grader's future.
One day while you are sitting in the doctor's office waiting for your appointment, you walk over to the table full of magazines and pick up a Time. The cover story grabs your eye. With all the talk lately about rising gas prices and the increasing impact those rising prices are having on your budget and future plans, how could you ignore a cover story in Time Magazine about the grip the big oil companies have on all of us ? There on page 70 is the lead article, "Inside the Big Oil Game". You're not surprised at all when you read,

" According to a recent CBS-New York Times poll, 69% of the public still believe that gasoline prices are rising not because there is an energy crisis but merely because the oil companies want to make more money. In a sentiment that is widely shared, Margaret Dadian, vice president of an Illinois sales company, complains: "There is a shortage all right, but not as serious as we are told it is. It is more a question of oil companies holding back until they can get higher prices. We have Arabs of our own in this country."
All around the U.S.,the lament is the same:in ways both devious and sinister, and too mystifying to understand, Big Oil is somehow out to rip off the public. says Irene McMckin, a Milwaukee public relations consultant: "I just don't feel the crisis is real. I don't trust the oil companies." Adds William Meier, an Indiana insurance agent: "My emotional response is that oil companies are trying to do a number on us." Even a high-ranking General Motors executive in Detroit remarks:
"The whole thing smells funny to me."

Boy, can you identify with what these folks have to say,or what ? All your friends are saying the same things. However, even though misery loves company, it sure would be nice if you could somehow know how all of this oil shortage mess was going to play itself out. With so many things riding on the future of oil,gas, and energy in general, if you could somehow look into the future and see how all of this was going to turn out, life would be a whole lot less stressful.
Well, maybe you can. If you are twenty-six years old in the year 2005, all you might have to do is pick up your cell phone and call your own mom or dad and ask them how it turned out for them. The article,"Inside the Big Oil Game" appeared in Time magazine on May, 7, 1979. Twenty-six years ago the oil/gas/energy crisis loomed as large as it does today.
By the way, whatever did happen to the oil shortages that justified the price hikes twenty-six years ago ? I'll leave you with two more quotes from that 1979 article:
1. "Fifteen of the nations largest oil companies released first-quarter profit figures, and they showed an acceleration of winter-long earnings surge."
2. "Profits are shooting up because tight supplies worldwide have allowed oil companies to raise their prices."
What's that you say Yogi? It really is deja vu all over again ?


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