qroy 0 #51 November 1, 2005 An antitrust case? Not with Bush and his pals in office. As a few others have mentioned, he has very deep ties with the oil companies. A couple of things that baffle me about the gas price situation: 1. Oil companies are raking in record profits, but they are receiving billions in subsidies and tax breaks. That is akin to Bill Gates receiving welfare checks -- it just doesn't make sense. 2. Supply and demand is often touted as the primary reason for the high prices. But it has been around 30 years since even a single refinery has been built in this country. Since there is an obvious supply bottleneck here, why are the oil companies not doing more to fix this? (Especially given the corporate welfare I mentioned before) Quote Share this post Link to post Share on other sites
Amazon 7 #52 November 1, 2005 Quote But it has been around 30 years since even a single refinery has been built in this country. Since there is an obvious supply bottleneck here, why are the oil companies not doing more to fix this? They have not built any in 30 years because the bastards have gone out of their way to close the ones they have to drive up prices.. http://www.huffingtonpost.com/jamie-court/memos-show-oil-companies-_b_6980.html "[T]he most critical factor facing the refining industry on the West Coast is the surplus of refining capacity, and the surplus gasoline production capacity. (The same situation exists for the entire U.S. refining industry.) Supply significantly exceeds demand year-round. This results in very poor refinery margins and very poor refinery financial results. Significant events need to occur to assist in reducing supplies and/or increasing the demand for gasoline." The memo went on to discuss a sucessful campaign in Washington State to shrink refined supply by removing other additives in the gasoline that filled gas volume. http://www.infowars.com/articles/economy/oil_internal_memos_limited_refineries_drive_prices.htm Large oil companies have for a decade artificially shorted the gasoline market to drive up prices," said FTCR president Jamie Court, who successfully fought to keep Shell Oil from needlessly closing its Bakersfield, California refinery this year. "Oil companies know they can make more money by making less gasoline. Katrina should be a wakeup call to America that the refiners profit widely when they keep the system running on empty." "It's now obvious to most Americans that we have a refinery shortage," said petroleum consultant Tim Hamilton, who authored a recent report about oil company price gouging for FTCR. "To point to the environmental laws as the cause simply misses the fact that it was the major oil companies, not the environmental groups, that used the regulatory process to create artificial shortages and limit competition." http://www.commondreams.org/news2005/1019-11.htm The industry hasn’t tried but once in 25 years to build a new refinery. Yet, between 1994 and 2004, they closed 30 refineries. On balance, they have been closing refineries, not trying to open new ones. Closing refineries tightens supply, driving up prices when demand is rising. That is exactly what has happened, and they’ve made record profits. Quote Share this post Link to post Share on other sites
billvon 3,098 #53 November 1, 2005 >Since there is an obvious supply bottleneck here, why are the oil >companies not doing more to fix this? Why? If you were making forty billion dollars a year in profit, and building more refineries would just lower your profit - would you do it? Add to that that the amount of oil we have is finite, and someday soon you will have to start idling your refineries. The oil companies aren't holding off on big new refinery projects because they're stupid - they're holding off because they are smart, and they know how to make money. People like Gravitymaster, who holds stock in these companies, appreciates this. Quote Share this post Link to post Share on other sites
Gravitymaster 0 #54 November 1, 2005 Quote>Since there is an obvious supply bottleneck here, why are the oil >companies not doing more to fix this? Why? If you were making forty billion dollars a year in profit, and building more refineries would just lower your profit - would you do it? Add to that that the amount of oil we have is finite, and someday soon you will have to start idling your refineries. The oil companies aren't holding off on big new refinery projects because they're stupid - they're holding off because they are smart, and they know how to make money. People like Gravitymaster, who holds stock in these companies, appreciates this. Yes I do. What do you think corporations are for, Bill? What do you think they do with the money, pile it up in a safe and sit on top of it laughing maniacally? You have 2 choices since you will never stop corporations from making as much profit as they can. 1. Bitch and moan about how you are getting screwed or 2. Invest and laugh at those who bitch and moan about getting screwed. Hey, I feel it's my Patriotic duty to make as much as I can so I can afford to pay the taxes to support those who are brainwashed into the Worker Bee mentality and won't snap out of it. Without people like me, those people in New Orleans would be having a tougher time of it. The money for those $2000 ATM Cards came from somewhere. Quote Share this post Link to post Share on other sites
Channman 2 #55 November 1, 2005 >The USA buys refined gas, and crude oil from Canada. The US Gas stations sell it for much less than we can buy it here. Sounds like those canadian taxes are screwing you. A little Canadian politics and greed can take its toll on ones pocket book. Cheers Quote Share this post Link to post Share on other sites
GTAVercetti 0 #56 November 1, 2005 I for one, do not have a problem with gas prices right now and I have no oil stock. But all these subsidies? Come on. Why yes, my license number is a palindrome. Thank you for noticing. Quote Share this post Link to post Share on other sites
billvon 3,098 #57 November 1, 2005 >What do you think corporations are for, Bill? To make money. I wasn't saying you were bad, just pointing out that companies make money, and criticizing them for that is like yelling at a dog that eats the pork chop that fell on the floor. It's what dogs do. Quote Share this post Link to post Share on other sites
kelpdiver 2 #58 November 1, 2005 Quote I do believe that the price of gas is high overall because of our inability to drill for oil and construct refineries because of environmentalists. Oil at $60 a barrel doesn't seem like the obvious cause? No amount of drilling in the US would change that cost by very much. Quote Share this post Link to post Share on other sites
Gravitymaster 0 #59 November 2, 2005 Quote>What do you think corporations are for, Bill? To make money. I wasn't saying you were bad, just pointing out that companies make money, and criticizing them for that is like yelling at a dog that eats the pork chop that fell on the floor. It's what dogs do. My bad. Didn't mean it to come out like that. Quote Share this post Link to post Share on other sites
dmcoco84 5 #60 November 2, 2005 Quote>And why is Diesel $3.29 a gallon??????? Don't rightly know. But back at ya, why is a 12 oz bottle of water at the movies $3.50????? Bottle water companies are making billions no Thearters are making billions. They jack up the price because they know you will but it. Supply and demand. Quote Share this post Link to post Share on other sites
Channman 2 #61 November 2, 2005 >They jack up the price because they know you will buy it. Supply and demand. From your statement, it appears you now know why Diesel is $3.29. I'm glad you finally figured it out. Quote Share this post Link to post Share on other sites
skycat 0 #62 November 4, 2005 QuoteQuote>And why is Diesel $3.29 a gallon??????? Don't rightly know. But back at ya, why is a 12 oz bottle of water at the movies $3.50????? Bottle water companies are making billions no Thearters are making billions. They jack up the price because they know you will but it. Supply and demand. Actually, for me they went to high. We got netflix last year and haven't been to the threater since. I have absolutely no problem waiting till the movie comes out on DVD, $20 per month for 30 movies a month or $20 for one. It was an easy choice.Fly it like you stole it! Quote Share this post Link to post Share on other sites
kallend 2,138 #63 February 1, 2008 Exxon sets another all-time record for profits. www.nytimes.com/2008/02/01/business/01cnd-exxon.html?hp... The only sure way to survive a canopy collision is not to have one. Quote Share this post Link to post Share on other sites
mnealtx 0 #64 February 1, 2008 Good for them!Mike I love you, Shannon and Jim. POPS 9708 , SCR 14706 Quote Share this post Link to post Share on other sites
Hausse 0 #65 February 1, 2008 Stop whining. Whole Europe pays somewhere between 6-8 USD. What you should be doing is tell the morons which are still driving SUV's and Pickups to get a better car. Quote Share this post Link to post Share on other sites
SpeedRacer 1 #66 February 1, 2008 If you like what the oil companies are doing to American citizens and American foreign policy, just keep in mind: Vaseline is ALSO a petroleum product. Speed Racer -------------------------------------------------- Quote Share this post Link to post Share on other sites
Hausse 0 #67 February 1, 2008 Ever heard of demand and supply and of elasticity? No wonder the oil companies are making tons of money. That's how it's supposed to be according to economic theorie. Why shouldn't they? They are in business to make money like everybody else and not to help you poor guys pay the $500/month for gas that you put into your hummer. Quote Share this post Link to post Share on other sites
Channman 2 #68 February 1, 2008 >...you poor guys pay the $500/month for gas that you put into your hummer. Hey I own a Hummer, and I don't pay $500.00 a month, or at least I don't think so. Never crossed my mind how much it was costing, I only new that it could squash a Yugo. Quote Share this post Link to post Share on other sites
Hausse 0 #69 February 1, 2008 Quote >...you poor guys pay the $500/month for gas that you put into your hummer. Hey I own a Hummer, and I don't pay $500.00 a month, or at least I don't think so. Never crossed my mind how much it was costing, I only new that it could squash a Yugo. Hehe okey a good argument. But if you don't know how much you pay I assume you don't whine around and as long as you don't do that I'm good with it. Quote Share this post Link to post Share on other sites
Channman 2 #70 February 1, 2008 > People like Gravitymaster, who holds stock in these companies, appreciates this. Hey dude, you left me out, oops wait a minute, I need to look over my investments to see If I own and Oil stocks if not, do you Gravmasters number? Quote Share this post Link to post Share on other sites
kelpdiver 2 #71 February 1, 2008 Quote > People like Gravitymaster, who holds stock in these companies, appreciates this. Hey dude, you left me out, oops wait a minute, I need to look over my investments to see If I own and Oil stocks if not, do you Gravmasters number? It's pretty hard to not own oil stocks - they are a major component of any big company index. Quote Share this post Link to post Share on other sites
mnealtx 0 #72 February 2, 2008 QuoteStop whining. Whole Europe pays somewhere between 6-8 USD. What you should be doing is tell the morons which are still driving SUV's and Pickups to get a better car. Sounds like you're the one whining, not me. I'm quite familiar with European fuel prices, having lived overseas since 1991.Mike I love you, Shannon and Jim. POPS 9708 , SCR 14706 Quote Share this post Link to post Share on other sites
Royd 0 #73 February 2, 2008 Please explain the difference between a profit and a profit margin. Quote Share this post Link to post Share on other sites
Hausse 0 #74 February 2, 2008 QuoteQuoteStop whining. Whole Europe pays somewhere between 6-8 USD. What you should be doing is tell the morons which are still driving SUV's and Pickups to get a better car. Sounds like you're the one whining, not me. I'm quite familiar with European fuel prices, having lived overseas since 1991. I'm living in the US at the moment and believe me I'm very glad I just pay $2.90 here since I made close to 20k miles this year... Quote Share this post Link to post Share on other sites
cloudseeker2001 0 #75 February 3, 2008 Quote >...you poor guys pay the $500/month for gas that you put into your hummer. Hey I own a Hummer, and I don't pay $500.00 a month, or at least I don't think so. Never crossed my mind how much it was costing, I only new that it could squash a Yugo. Chanman squash'n Yogo's!!!!!!!!!!!!!!! Oh Yea!!!!!!!! A little pun on the European!!!!!!! "Some call it heavenly in it's brilliance, others mean and rueful of the western dream" Quote Share this post Link to post Share on other sites
