If oil companies profits are falling is this due to comparison of huge profits in the past?

Do you feel that we are paying the right price for gas now that it has jumped up so much? Do you think we will see a drop in the future once things settle down in the middle east?If oil companies profits are falling is this due to comparison of huge profits in the past?
In the past, when the price of crude oil rose, so did the price at the pump. Immediately, even though the crude price had NO effect on already manufactured gasoline at the stations.





Last year the big oil companies were being accused of gouging the consumer and Congress had hearings to determine if they should levy extra taxes %26amp; fines against the companies.





Couple that with a summer of decreased gasoline usage (our great ';strong'; economy, yet few actually traveled anywhere) and the price at the pump is down.





So yes, the ';falling'; profits are due to the oil companies stoppage of rape of the American consumer.





On Wall Street, all that matters is total gross sales and 'profits', they don't care if the profits are bankrupting our country.





And no, we will not see a drop in crude prices. China is quickly becoming the world's biggest user of everything, and their demand (remember they have 2 BILLION people) will continue to drive up costs and deplete the earth.If oil companies profits are falling is this due to comparison of huge profits in the past?
The ';right price'; for anything is the market price (i.e. what people are willing to pay) given the available supply.
I dont like paying so much for fuel. we need new refineries and to drill domestically while looking for REAL alternatives that are actually efficient rather than just gimmicks. Oil companies though making large ';profits'; overall, actually have a relatively average profit margin of about 5%. Dont forget that investors get that money not to mention that it is needed when they get to finally start drilling which is highly expensive.
As stated above, there is no real connection to current crude prices and pump prices, except that the oil companies jump at a chance to raise prices on a product that they paid much less for, than in today's market.


Also, most American's seem not to understand, it is not the availability of crude, that changes our price at the pump, if we had a real cost/affect situation.


It is the availability of refined products coming out of the few refineries. Did you know that the major oil companies control/own all of the refineries? Did you know that they will slow down production, raise the price, to suit their own needs/desires.


Did you know that a group of moral investors cannot open more refineries, because the regulatory board to approve such is operated by the oil companies?


Did you know that the first answer didn't ever get around to answering the question, but did allude to a different one, the fact that gasoline retailers are as much at the mercy of the oil companies as we are, which really has no bearing on the question?


The reason the big oil companies can raise the price of wholesale, refined gas, is because they own the refineries. ROFLOL, I am still amazed at the blindness of people concerning the lack of proprietary action by the two most powerful men on earth, concerning our plight and their personal business.

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