You may have seen an ad or two by "The People of America's Oil and Natural Gas Industry" lately. With price reaching $120 a barrel and $4 a gallon, the monopoly fuel for transportation in the U.S. apparently feels the need to do a little explaining. A spokesmodel on TV tells us there's enough oil here to fuel 60 million cars for 60 years (if only we let the oil companies go get it.) A voice on radio suggests we stop knocking oil companies because they are us; we all own a piece (through our pension funds). We really ought to stop beating up on ourselves.
Last night, Stephen Colbert took a closer look at a newspaper ad on "The Price at the Pump." He discovered "oil is a zero profit business." Check out the video clip after the break.
[Source: Comedy Central