June 1, 2007

I'll have to step out there and say something that probably doesn' t get mentioned often enough. Jay Leno and David Letterman are comedic shills for the oil industry.

As long as we're laughing about gas prices, the oil companies have nothing to fear.

Let's take a look at the American Petroleum Institute's statement to the Senate Judiciary on market conditions. I'll quote them just so you know they're not my words.

"Back in 1980 the cost to refine, distribute and retail gasoline... averaged about 99 cents per gallon (in inflation-adjusted terms). By 1990 it averaged more than 63 cents per gallon, and by 2000 the margin had declined to 54 cents per gallon. It increased briefly in 2001 .... The refiner/marketer margin has since come down to an average of 48 cents per gallon in 2005. Multiplying these reductions by the 330 billion gallons of petroleum products consumed translates into billions of dollars of savings for consumers. American consumers benefit every day from these improvements and efficiency gains."

This needs emphasis; it'll be on the front burner a little longer than the usual.

Fri, 1 Jun 2007 07:23:11

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