Walter’s Perspective: Gas Prices Are Getting Outrageous

CHICAGO (CBS) — I didn’t want to, but figured I’d better this morning — stop for gas.

I spent $58.32, and it didn’t even fill my tank. I was so angry at the cost, I stopped pumping, paid what I had to and left; and then heard on the radio that the price of gas is on its way to $5 a gallon.

So it’ll cost me $75 or $80 for a tank of gas. $80 for a tank of gas! To hike the price like that, I’m thinking the gas companies must have big money problems, so I checked it out.

ConocoPhillips had $12 billion last year in profits. Chevron had $27 billion. Shell Oil profits last year were $31 billion. ExxonMobil’s profits were $40 billion.

Last year, oil company profits were up an average of 75 percent compared to the year before.

And they’re still hiking the price to $75 or $80 a tank? That’s not ingenuity, or enterprise, or good old-fashioned capitalism, on which this country is built. That’s just good old-fashioned greed.

  • Smiley

    How about driving a car instead of a gas-guzzling SUV?

  • tom sharp

    Here we go again. Walter, everyone knows gas prices are high. Your problem is you tell only one side of the story–no mention of the taxes which represent about half of those high prices. In Indiana gas is 50 cents/gallon cheaper than in Chicago. Tell it to Quinn, Madigan, Preckwinkle, Durbin, and Rahm–City, County, State and Federal taxes are a big part of this problem

  • Afro

    Just think Walter that big fat donation you made to the Obama camp could have gone in your gas tank.

    • Parker

      HAHAHAHAHAHAHHA….I didn’t know you donated to that loser.

  • Bob

    Just a thought. Exxon profit is 2 to 7 cents per gallon. About a dollar for an 80 dollar fill. A 5 cent drop in fill-up price won’t really help anyone. It’s a whole dollar.

  • Patrick

    This is…err…commentary. Gas prices are HIGH!…Gas companies are making a PROFIT! This piece could have been done by anyone with a computer in ten minutes. Great reporting. It is pointless pandering and I feel stupider for having even seen it. I never watch local news…and now it invades the internet.

  • Larry Horse's Arse Horse's Arse

    Wow, who knew?

    Walter is about 3 1/2 years late on this oversimplification.

  • Civilized

    Walker, do what the smart Chicago journalists do and get yourself a nice condo downtown that way your old grumpy self won’t have to worry about gas prices anymore.

  • Me adses

    Will someone tell this old hag to shut up and retire. He either says something painfully obvious ot something stupid. Enough already

  • City Club

    Thanks for the blow job, Walter. See you next week.

  • DogDays

    How dare Walter suggest massively hiking prices is related to corporate greed or profits! Unlike every other business price charged is unrelated to profit with big oil…

    Keep up the heresy Walter!

  • Parker

    Walter you are about as clueless as a redneck Walmart shopper. Learn about the oil/gas biz before shooting your mouth of. Plus, you have more money than 99.99999999% of the people your preaching get off your high horse.

  • Loomis

    I thought you were in jail.

  • Spookiest spook

    At least liquor prices are holding steading. Drink up you drunk.

  • Bucktown Resident

    As much as we’d like to demonize the oil companies, they don’t set the prices. The NY Mercantile Exchange sets prices. Prices are going up because of the tensions with Iran in the Straghts of Hormuz and the assumption that Israel will be the first to attack. The straights are where most of the world oil pass through. We need our politicians to stop bickering about ‘wedge’ issues and talk about energy independence. Something everyone of every political standing can agree on.

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