Somebody is ripping off Americans

By Ron Dupuis
Hampton Union 02-08-08

Somebody is ripping us off and many people feel it may not be only the Arab oil cartel. Speaking with an old friend the other day was an eye-opening experience as to how the general public feels about rising energy cost. My friend is a mid-level manufacturing executive who has traveled from New Hampshire to his job in Massachusetts for the last 15 years. He owns his home with a mortgage, has three children, and a wife who works part time. My guess would be that his income is around a hundred thousand a year.

"You know me," he started with a frustration in his voice that was unmistakable. "I work hard, I don't have many bad habits, I provide for my family." "Why is everyone trying to rip me off?"

"I know what you mean," I said sympathetically.

"Look at this." "I drive a mid-size car and it will take more than $40 of gas to fill it up." "Forty dollars!" "And you might as well forget about home heating oil." "If you don't have a wood stove or fire place, you're simply out of luck."

"I used to think it was the Arab oil cartel getting even for our involvement in the Mideast." "Now I'm not so sure."

"Oil company profits are up" I injected.

"Up" he shouted with that unmistakable frustration returning. "They're not just up," he said, "they're obscene."

My friend explained to me that he read where five CEOs testified before Congress the other day and tried to justify the $25 billion they made in profits ending in the third quarter of last year. Their reasoning was the combined $25 billion was based on revenues and that figure represents only a 7 percent to 10 percent profit margin. Not out of line for a major corporation. They also blamed high crude prices, hurricanes in the gulf that shut refineries for long periods, and high demand for gas during the summer months.

"So, in essence, the CEOs of five of the largest companies in the world are blaming the Arabs, the weather and our own illogical propensity for driving to work." "Give me a break."

"What do you think we should do," I asked. "What's the answer?"

He told me he was unsure.

"How about drilling in Alaska," I suggested? "Try to lessen our dependence of foreign crude imports."

"I don't feel that's the answer," he said. "Any oil reserves found in Alaska would most likely be a drop in the bucket compared to our daily needs in this country."

"Tax them more" I asked?

He said the "windfall profit act" the government tried in the '70s did not seem to produce the desired results either.

"All it seemed to accomplish is less re-investment in research by the oil companies. You know me, Ron. I'm a good Republican who believes in the free enterprise system, the open free market, less government and less regulation, however there comes a time when enough is enough. When people are being gouged by big corporations, government must intervene."

"I know this much" he continued. "This is an election year and I'm speaking out. I'm writing letters to newspapers, politicians and oil companies. I'm telling them I'm fed up because somebody is ripping me off and that I want them not only to find out who it is, I want them to see that it stops immediately."

"Do you think that will help," I asked?

"I don't know, however it will give me a sense of relief from the frustration that I feel."

My friend is typical of the emotions most Americans feel today. Not only when they are at the gas pumps, but when they also try to get past the everyday trials and tribulations of living in this great country.

Of course, this is just "In My Humble Opinion."

Ron Dupuis is a longtime New Hampshire resident, a former state representative and a freelance writer. His e-mail is drcdupuis@comcast.net. His Web site may be viewed at www.imho-nh.blogspot.com