Wednesday, July 16, 2008

So, oil profiteers aren't the problem?

That's what I keep hearing from their commercials and their apologists- that actually oil profiteering is 'good' for us all.

Because it helps your retirement portfolio.

Ok, has anyone told you just how much it's helping your retirement portfolio, or your mutual funds, or whatever it 'helping'?

I don't know, but I really don't see a lot of offset in 'boosting' a portfolio $5 a share when it costs double to fill your tank, buy anything made with corn, or just anything transported using petroleum- unless you own hundreds of shares (at least).

So will that $500 you made this year go to offset the $75+ to fill your tank?
or the extra cost of utilities you're on the hook for?
How can you split the future funds when they're the cause of you spending geometrically more to buy at retail what your portfolio (and the traders) are making on the profit end?

UPDATE (8:45 PM)

Sorry, but I forgot to mention that I place most of the blame on Congress, both Houses and BOTh parties.
It's not enough that We're paying for that Ethanol boondoggle four times, but just to prove how abysmally out of touch they are in D.C.- they're actually mulling that idiotic 55MPH sped limit again.

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