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The pump may not be the only place you feel the pain of high gas prices. That's the topic of the story I'm producing tonight with correspondent Tom Costello. The skyrocketing cost of fuel is affecting many of the commercial sectors of our nation's economy, from pizza to flowers to trash pickup. Businesses are feeling the pinch and passing it on to the customer. The number of gallons of gas used by some of these companies is incredible... one company in our story tonight, EDS Waste in Denver, uses between 700-800 gallons of gas A DAY. One limo company's gas bill has climbed from about $6,000/month to almost $19,000.
While many companies are passing on the costs, others we spoke to are trying desperately to hold off and having it cut into their bottom lines. The bottom line for consumers: it's going to be an expensive summer and not just at the gas station.
Read more from Jay Blackman
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About last night
Let's see - oil went up about 15% last quarter, Chervon profits went up 49%, and because there is no collusion in pricing, that means demand went up....60%? or am I just too stupid to know when I'm being robbed?
I'm sure El Presidente Bush's investigation into gas price gouging and anti-trust activities will be every bit as thorough and honest as his investigation for the leaker of Valery Plame's name - all mirrors will be removed from the White House.
Lee Steele, Mountain View, CA (Sent Apr 28, 2006 12:13:48 PM)
Everyone complains about the oil companies receiving excessive profits on their investment. Just take a look at the rate of return on investment of many other segments of our society and you will see that their reate of return is not excessive. Don't get me wrong I hate the high price of gas as much as everyone else but let us not forget that is the lack of investment in our own country that is contributing to this current problem. How many of you are going to forego your evening cocktail when the price of your favorite drink goes up 100% because the corn is being used as an additive for fuel. Lets be reasonable Methanol is not the answer to everything.
Jerry, Quartzsite, AZ (Sent Apr 26, 2006 11:58:14 PM)
W.'s dilemma concerns how to allow for the continued skimming of profits for the oil industry without inducing tendancies toward uncontrolled acceleration of oil market speculation. An aspect of mathematics of chaos concerns when amplitudes in acceleration go beyond that point that these can be controlled by outside influences(Bush's ability to lower gas prices by drawing from the strategic reserves). In essence, Bush isn't trying to offset high gas prices, he is trying to offset out of control speculation in the spot market that drives the ability to control oil prices in a set range. Go beyond that range and recession enters the picture? Bush will not be successful here but hopes to assuage leadership votes for himself and midterm associates!
(Sent Apr 26, 2006 4:18:52 PM)
In the last year, gas prices have gone from about $2.20 to $2.95 (East Coast reformulated regular). How could a limo company's gas bill go from $6,000 to $19,000 a month?!! What were they paying before? 90 cents? Maybe they need some tune-ups. Seriously, is the $19,000 a typo? $9,000 would be more believable.
John, Chester, NJ (Sent Apr 26, 2006 1:33:40 PM)
Bush is using the same old excues for the high gas cost. We know it's the old companies for profit and they will keep during it during Bush ( the oil man ).
What ever happen to the Bush friendship with the Saudi's. Now Bush says he will help I ask can we trust him as he has lied about everything while in office. I noticed that the report showed other countries gas well what is the cost of living in those countries? Also Venz. gas is 12 cent per gallon yet Bush pushing him aside and calls him names. We are losing friends because our govenment is invading oil countries. These oil companies will keep the high prices until we have a new President. Notice no word from Dick Cheney as he's working hard for Halliburton's taxpayers money.
Jackie Rawlings Riverside California (Sent Apr 25, 2006 10:33:25 PM)
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