Posted by Leonard Steinberg on November 4th, 2013

On Good Morning America this morning a big news item was about gas prices plummeting, closer to $ 3/gallon. When the correspondent was asked why, the answer was somewhat disturbing to me…. she said it was because the economy was not doing that well and this would be a ‘break’ for consumers….hmmmmm…..really???? So OPEC decides what price we should pay for gas and when? Does this mean OPEC is very aware that they have been fleecing the consumer with their bloated profit margins and they have seen the effects of this recklessness on consumer spending?

The average American consumes 486 gallons of gas per year….Exxon makes over $100 million in profit per day. Imagine if Exxon made $50 million profit per day and those dollars went into the economy instead. Gas is one of the worst ‘taxes’ on the average consumer and the powers that be are using their god-like powers yet again….