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Americans Blame U.S. Oil Companies And OPEC For High Gas Prices

Published 08/01/08 Jeff Bennett - Print Article
E-mail - editor@economyincisis.org

Americans are sick and tired of paying an average at the pump of more than $3.90 for a gallon of gasoline. After Exxon Mobile reported record all-time profits of $138 billion for the second quarter alone, citizens demonstrated their anger by pointing their fingers in blame at big U.S. oil companies.

In a poll conducted on Thursday among more than 1,000 adults, 68 percent said they feel American oil companies and OPEC are to blame for the soaring prices of gas. Middle Eastern nations profit around $300 billion annually from the sale of crude oil while Exxon’s profits show these entities are becoming rich at the expense of the American people. The nation will only continue to line the pockets of oil companies and Middle Eastern nations with our addiction to oil.


Source ABN Newswire:

Based on telephone interviews with more than 1,000 adult Americans conducted in July, the CNN/Opinion Research poll found that 68% of respondents think U.S. oil companies are a major cause behind high gas prices.

"OPEC and oil companies make outrageous profits," he said. And the relationship between the two contributes to an "upward spiral" in the crude market, which ultimately impacts the price of gas.


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