Yeay, we must be rich! Even though prices went down through the country, California gasoline prices, according to the federal Energy Information Administration, was up 4.6 cents a gallon from the previous week. The ticker is that they are likely to head even higher as the state switches from its winter clean-air blend to lower emitting summer gasoline formulas.
But don’t blame that switch too quickly. A comparison of prices in California and Washington State shows that clean-air formulas have little or nothing to do with higher pump prices, according to Judy Dugan, research director of FTCR. "Washington State uses plain-vanilla gasoline, uses the same crude oil sources and same refining companies as California and has lower state taxes, yet drivers there are paying more right now for their gasoline. It’s brazen of the oil industry to blame California’s clean-air regulations for price spikes, when such comparisons show it’s a false excuse."
There you go and this explains, partly why CEO on Wall Street have bonuses that most people would never make in a life time of working.
I’m all for making money and work harder to achieve more. However, we are at a point where the scale is lopsided. If this doesn’t stop, we will hit a brick wall sooner or later.
Read on Consumer Watch Dog here. I don’t know about the site but the article was pretty clear.
Go check out his post for more details.