Posts

Showing posts with the label Oil

Oil Facts

"When President Bush took office on January 20, 2001, the national average gas price was $1.46 per gallon. Six and a half years later, on August 27, 2007, the national average gas price had jumped to $2.76, roughly 89% higher. Compounded annually, this represents about a 10% jump each year Bush has been in office.

When Clinton took office on January 20, 1993, the national average gas price was $1.06 per gallon. six and a half years later, the national average gas price had jumped to $1.22, roughly 15% higher. Compounded annually, this represents about a 2% jump each year."

Let's look at another fact:

"Since George Bush became President in 2001, the top five oil companies in the United States have recorded profits of $464 billion through the first quarter of 2007:

ExxonMobil: $158.5 billion
Shell: $108.5 billion
BP: $89.2 billion
ChevronTexaco: $60.9 billion
ConocoPhillips: $46.9 billion

Americans consume 25% of the world's oil every day. China, the next biggest consumer…