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GASOLINE PRICES UP, END 3 MONTH SLUMP Gasoline - Page 12 - Politics, Business, Civil, History - Posted: 21st Nov, 2006 - 1:38am
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Gas Prices Go Up and Up and Up - Global Fuel - A lot of North Americans complain about the high price of Gasoline, but did you know that North Americans pay less than many other developed nations for Oil and Gas?The Price Of Oil - Page 12
As I clearly showed in my last post, most of their profits come from their crude oil sales. Crude oil prices are set by the market, primarily by the futures market.
Can you dispute this? Yes, they get higher profits. Since you, if you have any form of a 401(k) or mutual fund account, are a beneficiary of those profits, do you really want to figure out a way to punish them?
I am not an apologist for the oil companies. As far as I know, I am not a stockholder in any way. I just hate to see the feeding frenzy of all the people who BLAME them for things that are obviously not completely in their control.
Since before GWB became President, conservatives have been urging Congress to allow oil drilling in ANWR, off the coast of California and Florida, and additional drilling in places such as Oklahoma and Texas. They have consistently been denied this. The same can be said for nuclear power plants, additional refinery capacity, and more coal mines.
Yet various special interest groups have managed to thwart all of these efforts. Please, tell me, who are the ones who have put us into this spot? Is it the oil companies who have stopped us from doing the things that would have eliminated today's problems?
Will you dispute the fact that the US government gets more profit from a gallon of gas than the oil companies? Will you dispute the fact that the EPAs wacky requirements significantly increase the price of gasoline in various places? How about the fact that the government won't allow E85 stations to be set up? There are something like 80 E85 stations in the whole country. Congress is NOW considering the possibility of doubling the number of stations. Meanwhile, GM has sold hundreds of thousands of vehicles that can use E85 (85% Ethanol fuel). But the owners of these vehicles can't find anyplace to fill up.
I am not saying that the oil companies are innocent. However, despite countless attempts by Congress to prove collusion between the oil companies, they have never found the slightest evidence of such.
Please, explain to me how the oil companies have managed to control the price of crude oil so well, that they are able to profit from it. After all, that is also the highest COST within a gallon of gas.
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| QUOTE |
| Will you dispute the fact that the US government gets more profit from a gallon of gas than the oil companies? |
Is this true in America? If so it is a disgrace. But because you guys pay very little for petrol compared to most Western countries, I don't believe it.
| QUOTE |
| However, despite countless attempts by Congress to prove collusion between the oil companies, they have never found the slightest evidence of such. |
I know for a fact that oil companies are involved in collusion. I have interviewed oil company whistleblowers who have told the truth. I am sorry to say, but Cheney and his mates have been screwing over the American people for a long time. Oil companies don't give a nonsense about the ordinary American. I hope that doesn't hurt too much, but it is true. They only care about profit. I know that for a fact, one of my best friends father was an oil company executive. They are scum, and anyone who pretends otherwise is dilussional.
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The Price Of Oil History & Civil Business Politics
England, France, Sweden, Germany, the US, and Canada, for certain, all these governments profit far more from each liter or gallon of gas than any oil company. The US government gets $.11 in tax per $1.00 of gasoline. The oil companies get $.08.
When England had their big protests a couple of years ago about the high price of gasoline, at the time they were paying the equivalent of $5.00 (US) per gallon. Even the government then admitted that 85% of the price of gasoline was taxes. I won't even attempt to say what Australia is doing, but I would guess that it is the same. European style socialist governments LOVE to tax necessities, even more than they love to tax luxuries.
Please present your proof to the US Congress. Then, show me how it ISN'T the futures markets that are driving the prices of crude oil.
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Page 12 Oil Price The
Here is some commentary that gives a lot more information to support my point of view concerning oil and gas prices:
https://www.opinionjournal.com/columnists/b...r/?id=110008349
Profits of Doom?
Americans should be happy that oil companies are making money.
| QUOTE |
| Let us take a minute, then, to stick up for the big guys and ask, what's wrong with large profits for large oil companies? If a healthy profit margin--about 10% for the oil giants--is a problem, it comes with a built-in solution. Large profits create large incentives to increase supplies, build more refining capacity, and create new technology to meet energy needs. Exxon Mobil's profits alone in the first quarter of this year are four times as large as the $2 billion exploration tax credits stuffed into last year's energy bill. It's not a coincidence that more than 70% of the money spent researching new fuels comes from oil companies, not to mention the cost of drilling new wells, exploring new fields and developing technology and techniques to extract crude from fields previously considered exhausted. Fat profits also allow American companies to keep and even expand their workforce inside the U.S. The problem isn't oil company profit, but rather the price of a gallon of gasoline and the negative effect that has on family budgets and the political crisis that creates. But that too will create political pressure that could be used to finally make the hard choices for a more rational energy policy: One that involves more drilling (Artic National Wildlife Reserve, here we come) as well as more efficient uses of energy. Although we still have a "carbon-based economy," it's not nearly as dependent on fossil fuels as it once was. Writing computer software takes electricity, which is generated by burning coal (or something else). But it's a lot less fossil-fuel-intensive than a steel mill. An information economy is simply better prepared to handle a tight energy market than an industrial one. |
An excellent read. There is a lot more, about some senators that want to force the oil companies to break up, add more taxes, etc.
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Post Date: 19th Oct, 2006 - 12:43pm / Post ID: #
NOTE: News [?]
Oil Price The
OIL PRICES SLIDE AS SUPPLIES BALLOON
Oil prices fell below $58 US a barrel on Wednesday as a report on U.S. supplies of crude showed a bigger-than-expected rise.
Ref. https://www.cbc.ca/story/money/national/200...pricesfall.html
PUMP PRICES AT 8-MONTH LOW
Average gasoline prices in Canada have fallen to their lowest level in eight months, according to a national survey of pump prices.
Ref. https://www.cbc.ca/story/money/national/200...8/gasoline.html
The Price Of Oil
In the US, with the gas price increases of the last year plus, we have only begun to pay more for a gallon of gas than of bottled water. A gallon of Dasani bottled water goes for about 6 dollars (if you want Perrier, you pay more). A gallon of gas in the US today goes for about 8 to 10 dollars. Trust me, the Coca Cola company profits way more from bottling water and selling it to us than the oil companies refining the crude and selling us gasoline. Want to sue someone making too much money...better go after Coke and Pepsi too. 
Edited: Vincenzo on 20th Oct, 2006 - 8:42am
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The Price Oil - Page 12
Vincenzo - I'm not sure where you're living, but gas in my neck of the U.S. woods is down again to $2.50 per gallon or slightly less to $2.35. It had been as high as $3.50 here last summer. Where are you paying $8 to $10? Unless you are figuring in other costs, I don't know where that comes from.
| Offtopic but, However, you're correct about bottled water. There are instances where you can get water on sale, but generally the small bottles of fancy water at 16 oz are $1 to $3. Still, I'd rather drink that than the chemicals coming out of the tap at home! Chloramine isn't something I want to ingest regularly. |
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Post Date: 21st Nov, 2006 - 1:38am / Post ID: #
NOTE: News [?]
The Price Oil Politics Business Civil & History - Page 12
GASOLINE PRICES UP, END 3 MONTH SLUMP
Gasoline prices at U.S. pumps rose an average of a nickel a gallon over the last two weeks, ending three months of falling prices, according to a national
survey released Sunday.
Ref. https://money.cnn.com/2006/11/19/markets/lu...rices/index.htm
TOPIC: The Price Of Oil