Oil company execs: Fuel relatively cheap

I saw this article today…

Oil company execs: Fuel relatively cheap - Yahoo! News

Americans paying $3 per gallon at the pump have it relatively cheap when compared with prices globally, say oil and gas company executives who defend their record profits as essential to maintaining supplies.

In parts of Europe and elsewhere in the West, gasoline prices are more like $5 per gallon to $7 per gallon, said the chairman of ConocoPhillips Co., James J. Mulva.

Now, no one likes paying more for fuel. I remember back in 2004 I thought expensive was having to fill up a MB G500 for a friend at $2.60 a gallon in Palo Alto. But if you think about it, at $3.xx a gallon, it’s still cheaper than Starbucks - and Starbucks is just cocoa bean flavored water! Something that’s pretty renewable, whereas petroleum is from dead dinosaurs. And let’s just say that dinosaurs aren’t dying any faster these days.

Here’s another key comment:

“On a global basis, we’re competing for resources,”

It’s a new era indeed.