And just when you thought that the price of oil couldn’t go any higher you hear that Exxon’s been understating their profits by around 10%!!!! There’s a tax loophole that allows companies to use a fixed pricing for their cost of goods. Some companies use this to artificially boost their profits, while some like the oil companies use it to hide them!!!
Anyway, according to an article in fortune, US drivers haven’t changed their driving habits and oil consumption is actually higher than it was last summer. Instead, they say we’ve cut other stuff like eating out.