Retraction

Gotta man up here.

(I know, it sounds kind of sexist, but "person up" just doesn't have the same ring to it.)

I have mentioned a few places on the web that according to former Shell President John Hoffmeister (long out of the oil business) said that oil companies were actually losing a little money on gasoline there for a while (while making up for it in diesel and jet fuel).

Turns out I misheard him. I watched that interview again the other night, and what he said was that they were losing some margin on gasoline. Which means they were still making money on it, just not as much as they would normally expect.

Of course, in a Liberal world, that means a loss. Because to them if you don't raise taxes as fast as you were going to, that's a "cut". And when Palin only raised funding for pregnant teens by 354% instead of 454%, that was also a "cut".

So in my book, I was wrong. But in theirs, maybe not so much.