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Oil Prices: Whose Fault??

Discussion in 'Uncategorized Threads' started by jbbor, May 27, 2008.

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  1. jbbor

    jbbor Active Member

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    Why are oil and gas prices so high? It's the oil companies fault?? It's the Arabs fault?? It's the American consumers fault??

    ?????

    CLICK HERE

    CLICK HERE

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    CLICK HERE
     
  2. H82MIS

    H82MIS TS Member

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    kill em all,,
     
  3. Little Dog

    Little Dog TS Member

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    Yes, it's all the fault of those greedy oil company owners (shareholders) like me.
     
  4. primer

    primer TS Member

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    The tree huger. We have all kinds of oil. Can't drill, can't build refineries. If we could, we could let the Arabs kiss our. Look to your Dem leaders they run the congress, but they like it this way. You can have your small cars or bikes, they can fly in jets using your money. Until we drill for our own oil we will pay and pay, or we can be like China one Bicycle in every hut.
     
  5. Robert N

    Robert N TS Member

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    The US dollar has about half the value (against the Euro) as it did 5 years ago. Combine that with the enormous increase in demand from India and China, along with the unwillingness of US elected officials to allow exploring our own resources...it's amazing that our fuel costs aren't twice what they are now!

    God help us....
     
  6. Joe Potosky

    Joe Potosky Well-Known Member

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    We are at the mercy of the world. I never thought I'd see the day, especially with all the oil sitting in the ground in and around north America.

    But, we have not seen anything yet, wait until congress passes the carbon tax on all forms of power...

    The Environmental Protection Agency estimates that this meddling would cause a cumulative reduction in the growth of GDP by between 0.9% and 3.8% by 2030. Add 20 years, and the reduction is between 2.4% and 6.9% – that is, from $1 trillion to $2.8 trillion.

    These estimates assume that electricity prices will increase by 44% above what they would otherwise be by 2030. They also assume that existing coal-fired power plants, which currently provide about 50% of U.S. electric power, will be shut down – to be replaced with at least 150% growth in new nuclear facilities, plus other "alternatives." Yet there are only 104 current U.S. nuclear plants, and the industry itself says it's optimistic to think even 30 more can be built by 2020.

    In fact, it is pointless to project so far out over multiple decades, since no one knows how markets and consumers would respond, whether the rules would remain constant, or what new technologies might come along. While moralizing about America, most of Europe has failed to meet its mandatory cap and trade goals under the Kyoto Protocol. But the U.S. isn't Italy; we will enforce our laws. So our guess is that these cost estimates are invariably far too low.
     
  7. Bubba

    Bubba Member

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    If you are unhappy with the current oil prices thank an environmentalist.
     
  8. wm rike

    wm rike Member

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    In a free market, prices are dictated by demand or lack thereof. Doesn't matter if you are talking about housing, corn, oil, or aspirin.

    Oil? Right now the producers can't make enough of the stuff to keep the market happy. Ditto corn. Housing? 'Nuf of that and prices are dropping. Aspirin? Now there's a nicely balanced market.
     
  9. N. J. BOB

    N. J. BOB Active Member

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    Mine. For letting the morons run this country....
     
  10. nipper

    nipper TS Member

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    its because of hedge fund investors buying oil to create an artifical demand. the higher the price goes the more money they will rake in, even if they bought in at 100.00 a barrel. the federal trade commission is in the beginning stages of investigating this. they are setting behind computer screens investing in oil stock and could care less what we pay per gallon as long as their profit stays up.

    bill
     
  11. markdenis

    markdenis TS Member

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    wm rike

    Oil and all products are priced by who owns it and who wants it. Oil companies almost have a monopoly on oil and we want it so the price remains constant to their profit margin. Not all products are like that. You mentioned aspirin...much different product no matter the supply and demand. We want it but many have it for sale so it depends on where you buy aspirin. If you buy it in a hospital, the price is close to an average of $12.00 per aspirin. If you buy it a Dollar store, the price is about a penny apiece....big, big difference on who owns what product!
     
  12. oz

    oz Active Member

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    It's the New York Stock Market. They get rich and we get screwed. Apparently we are selling oil to china and japan. The government should take the obscene profits that the oil company executives are pocketing and give it back to us. oz
     
  13. oz

    oz Active Member

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    the prices are set by the new york stock exchange. they fill their pockets at our expense. the oil company executives reap some of the benefits in the way of obscene profits. oz
     
  14. tonygrz

    tonygrz TS Member

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    My son-in-law works for an independent oil producer (wildcatter). The big oil companies are buying up all the leases on plugged wells to keep the supply low. If they were to open the plugged wells, we could increase production by as much as 20%. But if I'm the big oil company, why produce more and make less profit. If I'm the consumer, open up all the plugged wells and start producing more oil and lower my gas price. Which are you for???

    Tony Garza
     
  15. Tripod

    Tripod Well-Known Member

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    Iowa man!!
    Exxon-mobile makes 9% on sales. Thats not really obscene. Both Pepsico and Coca Cola make around 20%. The problem is we are working with very little wiggle room on supply and demand. As long as we keep using all they will sell us. it will not get much cheaper. China and India are growing their consuming class by double digits each year also.
     
  16. markdenis

    markdenis TS Member

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    You guys crack me up!!!! There is only one entity at fault for high gas prices and that is us...the fuel consumption user. It is completely backwards from what it should be. We have given the power to big oil companies to rape us and never protest. We have the power to control gas prices, not the big oil companies, stock market or anyone else. I wonder how far or how high gas has to get before we protest...7, 10, 15, 20 dollars a gallon? How High?

    We could stop this crap easy by not patronizing one oil giant, not all, just one. Don't buy from one of them as a group for a couple of months and see what happens to the price of gas! But the problem is we couldn't even decide as a group which one to boycott much less follow through with it. We have the power to control the price of fuel, but it is not high enough yet for us to join together. So to respond to the question this thread addressed, we are at fault for turning the price of gas over to the big oil companies so they can screw us silly!
     
  17. markdenis

    markdenis TS Member

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    You guys crack me up!!!! There is only one entity at fault for high gas prices and that is us...the fuel consumption user. It is completely backwards from what it should be. We have given the power to big oil companies to rape us and never protest. We have the power to control gas prices, not the big oil companies, stock market or anyone else. I wonder how far or how high gas has to get before we protest...7, 10, 15, 20 dollars a gallon? How High?

    We could stop this crap easy by not patronizing one oil giant, not all, just one. Don't buy from one of them as a group for a couple of months and see what happens to the price of gas! But the problem is we couldn't even decide as a group which one to boycott much less follow through with it. We have the power to control the price of fuel, but it is not high enough yet for us to join together. So to respond to the question this thread addressed, we are at fault for turning the price of gas over to the big oil companies so they can screw us silly!

    Just to define monopoly before some JERK gets on here and says I don't know what a monopoly is, here is the definition from the dictionary:

    One entry found for monopoly.
    Main Entry: mo·nop·o·ly Pronunciation: mschwa-primarystressnäp-(schwa-)lemacron Function: noun Inflected Form(s): plural -lies 1 a : complete control over the entire supply of goods or a service in a certain market b : complete possession 2 : a commercial product or service controlled by one person or company 3 : a company that has a monopoly
     
  18. Rico46

    Rico46 TS Member

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    Just about everyone is correct in their statements. There is fault lying everyhwere at this problem. You can blame OPEC, oil companies, speculators, US Treasury (poor dollr value), stockmarket, environmentalist, an irresponsible debt ridden congress and poor Presidential leadership. But the biggest problem is simply "we" the consumer.

    The United States consumes 70% of the entire energy provided by this planet, yet we barely make up 5% of the entire population. Every American must be willing to reduce their consumption by 10%. That in itself will be enough to cause a temporary oil glut. Once that is done the prices will dropply sharply! Citizens of the country must put pressure on legislatures to begin drilling in the ANWAR, Gulf of Mexico, North Dakota, Montana etc. If your candidate doesn't support assisting the average working American in energy costs they have to go! No ifs, ands, or butts! Many in the Senate are multi-millionaires so if gas goes up to $8 a gallon it has little or no effect on them personally! China is drilling for oil about 30 miles off Cuba and the US Congress will not authorize any drilling in that part of the world.

    Americans have the ability to protect themselves from gouging by taking matters in their own hands. If you have to go to the store walk or take a bike if possible. Take your vacation this year closer to home. Stay home one day on the weekend work around the house etc. All of us must take a stance! We can flood the market in both oil and gas. "It will drive down the costs and speculations on Wallstreet." Start electing candidates that are pro-energy and those that are not should be fired by the general public. No more bullshit from meally mouth politicians that aren't fit to poor pee from the working man's shoes. Lobby to have congressional action eliminating the 45 different blends of gasoline and streamlining the process to save money on refigning costs.

    We as Americans can control our own destiny. Either that or we will continue to be gouged by all those listed at the top of this thread. It's your choice!Thanks

    Rick
     
  19. Clay Addict

    Clay Addict Member

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    Markdenis,
    I own an oil company. Every barrel of oil I sell is at a price I have no control over. I could not control the price a few years ago at $8.00 per barrel (when I was working three jobs to stay afloat) and I can't control todays price (just two jobs now). I have no monopoly. You can do the same thing I do. Risk everything you own, lease where you think there is oil, get a rig moved in and drill your own personal well. I do this every day and you can too. Where is the monopoly in that?

    Anyone research the price of corn? Why are we using corn to produce a fuel that takes more energy to make than you will get from a gallon of the best ethanol. Seems to me that part of what has happened is food prices have risen sharply due to the demand on a primary grain for ethanol. Increased food costs, increased fuel costs, and increased energy costs may be all tied into one vicious loop.

    Suggest you try to locate the interview that T Boone Pickens gave to Georgetown a few weeks ago. I was enlightened and impressed with the information he offered.

    Good luck with your well.
    Keep shooting too!
     
  20. Little Dog

    Little Dog TS Member

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    Sure thing, Mark, everybody is sure to listen to a clueless individual who doesn't even know the definition of "monopoly".

    Why don't you guys bitch about the price of corn or wheat and babble on about how those greedy monopoly farmers are screwing you? How about those greedy dairy owners who keep the price of milk above the price of gas? How about those greedy water bottlers who sell water for more than the price of gas. Where's the outrage?

    If hot air could lower the price of gas, it would be very cheap by now.
     
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