By using American tax payers as pawns to wreck the oil industry, the Democrats will be able to create a new Green-unionized labor workforce that will carry us into a glorious second, Green-Industrial Revolution. Presumably, these noble workers will be able to construct energy efficient castles in the sky out of wind and solar power and subsidies.
Big oil is evil. They constantly price gouge us by raising oil prices. It has nothing to do with consumer demand. They apparently failed the part in economics 101 that says when demand is high and supply is low that prices are supposed to be low. It's time to tax the devil out of them for making a profit. We need to send a message to every company that turning a profit is not what gets America out of this recession.
Speaking of failing Econ 101....
What do you think happens to the price of gas at the pump if the gov't slaps on another tax to the oil companies? They just raise the price you pay.
How much money do you think the oil companies earn off a gallon of gas compared to what the gov't takes? Of the two, who makes a bigger impact on the price of gas?
Do you really think demand is low? Do you realize the USA isn't the only consumer of oil? Have you heard what is going on in China and India?
If a company does not turn a profit, how long do you think they will be in business?
What exactly makes "Big oil" evil? Is "Big oil" more evil than "big food"? How about "big software"?
Oil rising is very easy to see.
Demand goes up.
Supply goes down/stays the same.
What is fueling the demand? Inflation.
wow. Just WOW fucking wow.
Strong argument, I'll have to remember that one.....
Ah this is just gold. Pure, solid gold.
You seem to have missed not only the basic meaning of the post you originally quoted, but also my oh-so-deceptively-subtle response.
I'm guessing you just skimmed through my post and didn't realize that I was being sarcastic. I mentioned the demand being HIGH and the supply being LOW and the prices were supposed to be LOW. At least, that's what some apparently think about oil. It's become a game of I want it; you got it so I'm gonna kick and scream until everybody believes that you must be ripping me off by selling it at a profitable margin.
Sorry, after the "Big oil" comment, I couldn't see straight.....
No difference between Democrats & Republicans in practice....only the rhetoric. If they were required to wear NASCAR uniforms at least we would know who they work for.
It happens. That's actually how a lot of things get through Congress. One party starts a bill with the first 100 pages of Crime and Punishment so the other party just stops ready. Little do they know there is an add on to the bill at the end that gives $1 million to shoot hobos out of cannons for the 4th of July.
Its an oligopoly and self admitted cartel... google "Corporate Profits" and look at the top 10.
The price is whatever they want it to be.
Top Corporate Profits by Year (Billions)
1 ExxonMobil 2008 $45.22
2 ExxonMobil 2007 $40.61
3 ExxonMobil 2006 $39.5
4 ExxonMobil 2005 $36.1
5 NestlÃ© 2010 $35.4
6 ExxonMobil 2010 $31.40
7 Royal Dutch Shell 2007 $31.33
8 Gazprom 2008 $26.78
9 Royal Dutch Shell 2008 $26.28
10 Royal Dutch Shell 2006 $25.44
11 Royal Dutch Shell 2005 $25.31
12 ExxonMobil 2004 $25.3
13 Citigroup 2005 $24.6
14 Gazprom 2009 $24.33
15 Chevron 2008 $23.93
16 United Airlines 2006 $22.88
17 BP 2005 $22.63
18 General Electric 2007 $22.2
19 ExxonMobil 2003 $21.5
20 Citigroup 2006 $21.5
21 Ford Motor Company 1998 $21.4
22 BP 2008 $21.16
23 Petrochina 2010 $21.16
24 Bank of America 2006 $21.13
25 General Electric 2006 $20.8
26 Royal Dutch Shell 2010 $20.47
I just noticed Nestle in there and had a good laugh. WTF?
Edit: I had no idea the scale of Nestle Corporation, absolutely crazy... I learned something today!
Those profits aren't surprising. Oil is probably one thing that virtually all the world uses in some way, shape, or form. Of course the vast majority of the developed world either drives or travels via another oil powered method of transportation. You also have to consider food which needs oil to run tractors and machines that help in its production. Everybody eats.
Oil runs through many machines that make things like clothes, shoes, and other products everyone uses. So with oil needed for all those things, the demand for it is through the roof. Since oil companies don't operate as a charitable organization, they have to do very little to make a profit.
That could be because nearly every human uses their product (increased demand) and many gov't restrict where and how they can develop the product (restricted supply).
X2 such a grasp