Tuesday, August 16, 2005

Gas prices

Everyone knows that gas prices are at record levels. Not surprisingly, oil company profits are at record levels also. Although it seems to me that they shouldn't be. After all, the oil companies are just reluctantly passing on increases in their costs right? Not everyone is unhappy with high prices at the gas pumps, however:

``I love these prices. The higher, the better,'' said Frank Gafke, of Galveston, a senior service leader for Halliburton on the Texas Gulf Coast.

Gafke said Halliburton's profits - and his savings account - had increased markedly since fuel prices began rising. He predicted that prices soon will reach $3 per gallon for automobile drivers, as well as for recreational boaters.

And, he said, relief at the pump probably won't come anytime soon.

``Oil just hit $66 per barrel and gas jumped up 6 cents,'' Gafke said.

``And if we take any action against Iran, that's only going to cause more price increases. But if you can afford the boat, it doesn't matter what gas costs.''



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