- On the 11th of December, 2006, we paid $2.359 per gallon of gas.
- On the 25th of January, 2007, we paid $2.439 per gallon of gas.
- On the 13th of March, 2007, we paid $2.549 per gallon of gas.
- On the 22nd of March, 2007, we paid $2.589 per gallon of gas.
- On the 28th of March, 2007, we paid $2.649 per gallon of gas.
We do not drive a big SUV. Instead, we drive a small Hundai Elantra that has almost 100,000 miles on it. These miles were mostly aquired going to and from work. Where we live, there is no public transportation, since Perryopolis is classified as a rural area. When we moved here, we looked for apartments closer to where my husband works, but they were mostly for senior citizens, or they did not accept our 3 precious cats. Since we are not senior citizens yet, we found an apartment about 15 miles away.
That means we have to drive to work.
Now, it is ironic to me that driving to and from work is not tax deductible according to our H&R TaxCut software, but executives can deduct the cost of playing golf. Does this sound right to you?
And yet the price of gas continues to rise. Why?
According to USA Today at http://www.usatoday.com/money/companies/earnings/2006-01-30-exxonmobil_x.htm
ExxonMobil amasses record $36B 2005 profit
And according to Business Week at http://www.businessweek.com/investor/content/feb2007/pi20070201_663405.htm
Exxon Mobil (XOM)
Reiterates 5 STARS (strong buy)
Analyst: Tina Vital
The company posts fourth quarter operating EPS of $1.69, vs. $1.65
one year earlier, reflecting lower natural gas price realizations
and narrowed refining margins, and beating our estimate by 17 cents. Results exclude a tax benefit of 7 cents. Oil and gas production declined 0.9% but was above our expectations; we forecast 3% growth for 2007. We are increasing our 2007 operating EPS estimate by 55 cents to $7.12 and our forecast for 2008 by 78 cents to $7.59. Blending our discounted cash-flow and relative valuations, we are raising our 12-month target price by $5 to $89, an expected enterprise
value of 7.4 times our 2007 EBITDA (earnings before interest, taxes,
depreciation and amortization) estimate -- a premium to peers.
So while we are held hostage by the price of gas, oil companies here in the U.S. are making record profits. We are suppose to have laws against this kind of extortion, yet, why would our politicians care since our president is an oil man himself. Of course he is going to side with the oil companies.