To the Editor: Nobody needs to be told of the high prices at the gas station and grocery store. They began during Covid due to supply chain issues but haven't come down even though the supply is much improved. I recently did an online search to find out why prices have remained high. An article by Time magazine and then postings by individual food and gas companies opened my eyes. Many of these companies have figured out that we have to eat and drive so they can charge whatever they want. Their profits have skyrocketed, not to cover their costs but to provide them with larger profits! For example, Shell gas had $28 billion in profit in 2023. Exxon Mobil's profit was $36 billion. Conagra Brands (Chef Boyardee, Hunts, Duncan Hines, Marie Callenders, Orville Redenbacher, etc.) had a 60% profit between December 2022 and February 2023. Kraft Heinz (Oscar Mayer, Jello, Heinz, Oreida, Lunchables, Weight Watchers, etc.) was up 448%! Tyson's profits more than doubled. Cal-Maine Foods (Land o Lakes, 4 - Grain, etc.) had profits up 718% and General Mills profits were up 97%. You can look online and find more. These companies love being able to present these numbers to their shareholders, and the shareholders are happy because they are paid high dividends. This is a case of the rich getting richer and the poor getting poorer. There is a way we can fight back. You can research company profits for foods and gas you buy. Then buy from companies who haven't kept their prices so high. Buying fresh food and making your meals rather than buying prepared meals will also help. You can also grow some of your own food this summer, in a vegetable garden, in a planter, or mixed with flowers in an ornamental garden. Becky Tuuk Fremont
1 Comment
Dawn Bushouse
7/9/2024 08:53:19 am
Thanks for explaining this Becky. In your research what gas companies did you find that are not gouging us?
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