Gas prices are over $2.70 here in California. Some places are over $3 [near the mountains]. The oil companies say that the price is increasing because of the original cost price of the oil for them. That translates into saying that the cost of the oil barrel had gone up.

In 2004, profits for Texaco increased by over 400%. If the price of the oil barrel increased, how can profits increase more than the previous years? This is what happens when the authority allows the consolidation of about 8 big oil corporations into about 4 gigantic oil mammoths. We see less competition and higher prices.

How much would you think the price of a normal cheeseburger be if McDonald’s gobbled up most of the other competitors?