Donating Blood For Gasoline

BP America Chairman Robert Malone, left, and Shell Oil President John Hofmeister, are sworn in on Capitol Hill in Washington, Wednesday, May 21, 2008, prior to testifying before the Senate Judiciary Committee hearing on oil prices. (AP Photo/Evan Vucci) AP Photo/Evan Vucci

This column was written by CBS News Early Show co-anchor Harry Smith.
Big wigs from the big oil companies are to testify on Capitol Hill today, and they will certainly get an earful.

Gasoline prices seem to go up everyday. And the oil companies' profits keep going up too. Seems a little peculiar, don't you think? Don't you usually have to do everything in your power to hold prices down, in order to stay competitive?

Profits usually shrink in tough times and in tough markets, except for the oil companies. And they say they need those profits to plow into exploration.

I've often said that America got drunk on cheap oil, and as we all know, the hangover is excruciating. The addiction is so bad that some people have started trading their blood for gasoline. In San Antonio, a woman gets forty bucks for her blood at a local plasma center and uses some of that money to pay for gas.

Addicts will tell you the using is easy, getting the stuff is the hard part.

By Harry Smith
By Harry Smith
  • Harry Smith

Comments