Oil/Gas Companies, i.e. Shell, ExxonMobil and BP in particular, are raking in huge profits at the pump. ExxonMobil has the highest first quarter profits ever & in a down economy… even topping the last decade. Why? Have you purchased any gas at the pump or paid your gas Credit Card bill lately?

shell_oil_picketers

And, it doesn’t stop at the pump. The Big Banks are cleaning up as well. The very Banks that we as taxpayers bailed out are making more money and sitting on it more now than before the bail-out.

It’s true. Banks, Oil Companies and Wall Street CEO’s are receiving record bonuses while Middle Class Americans are losing their jobs and their homes to foreclosure in record numbers. Unemployment is at an all-time high and the future is dim… with  the distinct exception of the greed monger Banks, Oil Companies and Wall Street Capitalists.

Today, The Nite Ranter met a close friend for lunch and in the general conversation he stated that he was not going to continue paying his high interest Gas Credit Card Bills as he has calculated that he has already paid them well over three times the amount of money for gas he originally purchased on two of his “personally cancelled” Gas Credit Cards.

When I said what!… did I hear you right? He stated…“You heard me right! They are unsecured cards with about $500.00 still owing on each and that they did not meet the criteria of creditability he has determined to be fair in his budget sensitive world.”

He is fully aware that his credit score will suffer but he has no intention of any further major purchases and is much more concerned about keeping the really important bills current to keep himself and his family afloat! He doesn’t intend to continue pumping cash into these giant greed monsters. He stated that he rarely if ever fills his tank and pays cash for exactly what he requires for his daily or weekly activities, which is a 3 or 4 day out schedule.

The more I considered his thought processes the more it made sense in today’s world. We discussed a scenario where if every American with a Gas Credit Card stopped paying their bills and only purchased the minimal amount of gas required to get through 3 or 4 days instead of filling up their tanks, it would eventually hit the greed monsters… Big Banks, Big Oil, Wall Street Tycoons and Oil Market Speculators where they live… just as they are hitting us where we live. Interesting?

I have to admit, it’s not an opinion from a Harvard Scholar with a research team but a regular middle-class American. I think that on the surface it has a lot of merit as a plan to fight back… assuming that your credit score does not drive your every move in life…

Here’s My Question:
How would you rate this suggestion from a quality American Citizen and Taxpayer?

NOW RANT TO ME!

One Response

Stay in touch with the conversation, subscribe to the Nite Ranter by email.

  1. The Nite Ranter

    The Nite Ranter Staff conducted a random telephone poll regarding the Question posed in the above post. An alarming…somewhat sympathetic and encouraging number of respondents agreed with the basic premise but were afraid to let their credit score receive a hit from non payment of their unsecured gas credit cards. Many of the respondents did say however that they too had voluntarily cancelled their oil company gas credit cards. Many or most were paying cash through their basic bank debit/credit cards for their purchase at the pump.

    This is the kind of action that will get into the pockets of Big Oil, Big Banks, Wall street and Oil capitalist speculators.

    Keep it up America!!!

    :=) TNR

    May 11, 2011 at 7:58 pm