Price Gouging
This nine page paper presents a detailed examination of the topic of suspected price gouging by oil companies. Using concrete recent examples of well known companies, including Exxon Mobile, the writer explores allegations of price gouging and argues that it is unfair for oil companies to take advantage of consumers when consumers have supported them for years. According to the writer, social responsibility should supercede corporate responsibility. There were four sources used to complete this paper.
INTRODUCTION
For the past year the price of oil has continued to increase in record numbers across the board. Its impact on heating costs, gasoline prices and other uses has moved to the forefront of the news almost nightly as Americans demand the government step in and do something about what it they suspect is price gouging by the oil companies. While the oil companies insist that they are not the cause of the problem the consumer continues to pay the price. With the many years of support that American consumers have given to oil companies the oil companies have a social responsibility to insure the consumer is not being taken advantage of at the pump.
THE PROBLEM
A recent survey revealed that 87 percent of Americans currently believe that oil companies are taking part in price gouging tactics. The primary target, according to those surveyed, are the gasoline customers who are now paying an average of almost $3.00 a gallon at the pumps. In addition, the same Americans believe that the federal government is turning a blind eye to the issue and not taking steps to stop the gouging practices (Americans, 2005).
When it comes to the federal government imposing an increased energy fuel standard for efficiency 73 percent of Americans believe more could and should be done. And according to recent studies four out of five Americans also believe that Toyota is on the right track with its vow to only produce hybrid cars from this day forward...