โMay-20-2008 09:25 PM
โMay-23-2008 05:54 AM
โMay-23-2008 05:32 AM
โMay-23-2008 05:24 AM
TroyD wrote:
The obvious thing to do would be to take over the oil wells if we were being ripped off and our economy put in jeopardy, problem is, "Our Representatives" in government are friends with the gougers.
โMay-23-2008 05:21 AM
โMay-23-2008 01:27 AM
โMay-23-2008 12:56 AM
โMay-22-2008 11:50 PM
โMay-22-2008 10:16 PM
โMay-22-2008 10:01 PM
โMay-22-2008 09:28 PM
โMay-22-2008 08:56 PM
Skid Row Joe wrote:
Big Oil is making very low margins, versus their expended capital.
Find another boogie-man.......oil companies ain't it.:R
โMay-22-2008 08:43 PM
wing_zealot wrote:
Speculation - lots of speculation but very little hard evidence. Prices are high because Big Oil companies are closing refineries to lower the supply and drive up demand Prices are high because Oil Speculators are jacking up the price. Prices are high because Bush is in office and he is an oil man. WE got enough oil for the next 60 years, its ________ fault. yadda yadda yadda.
Folks, in the United States alone we burn through 20.7 Million barrels of oil each and every day. You have any concept on how huge a pile that many barrels of oil is? Every day - being pumped out of the earth. And all that oil for just one little corner of the world? Now add in China, Canada, Japan, etc. etc. etc. How long do you think we can sustain that thirst? And you speculate about what is driving up the price of oil. It's hard to put the blame squarely on our own shoulders, it's easier just to blame someone else. Seems pretty clear to me. But hey, what do I know.
โMay-22-2008 08:37 PM
Rally's attended so far-21
โMay-22-2008 08:05 PM
โMay-22-2008 07:52 PM
wing_zealot wrote:traxtermax wrote:wing_zealot wrote:
So Traxtermax, now that you've taken about 8 paragraphs to blame everyone else. What part of this do you take ownership of?
It looks like I wasted 8 paragraphs on you. What do you think should be done?
As a Nation, quit using 20.7 MILLION BARRELS of oil every day! Doesn't that about equal ALL our gasoline consumption each day? If so, how are you going to do that? I'm interested in seeing your "transition plan". If you really meant "gallons", that's about 5% of our daily use and I think thatโs been accomplished over the last year or two. There's no doubt that people are using less fuel, yet fuel prices keep rising. I guess the next step is to stop mowing the grass because I've already decided not to launch the boat this year.
Let's suppose the United States made a great sacrifice and reduce their oil consumption by 25%. In order to do that, some businesses would die and our infrastructure would be in serious jeopardy. Life would be uncomfortable and the routine would be to drive to work every weekday and return directly home--no side trips to the hardware store on the weekends either. The exceptions are:
*Once a week, you can food shop ON THE WAY HOME FROM WORK.
*Every month, you can visit a doctor only if itโs within a two mile radius of the highway you travel to go to work.
*Thereโs no time for fun or toys; just work, food, doctors, sickness and death.
*Emergency trips in private vehicles are permissible if breathing stops for more than 10 minutes or if bleeding occurs at a rate in excess of one-half pint per minuteโotherwise, take public transportation.
*Geeze, I forgot about housing. Since there arenโt any caves around most places, weโll have to work overtime to pay for the tent we bought to replace the house we sold.
Barring all that, the following situations could lead to several things:
Letโs say the U.S.โs 25% reduction of oil consumption results in a global condition that the oil demand is equal to the supply. Would world oil prices stabilize on that basis (solely at the expense of United States citizens of course)? Does that mean BO will charge less for their product? They have already admitted that they're in the business to make lots of money and I would venture to say that they wouldnโt lower fuel prices anytime, for anybody, under any conditions, without facing a serious/hostile governmental threat.
I don't think the law of supply and demand applies to essential products or services that have little or no competition. Thereโs no reason to think that Big Oil's CEOs, who are making millions per year, are going to lower their prices if they donโt have to. If there is less demand, so what? They conquered that problem before (U.S.) and will conquer it again if left to their own devices.
Suppose our 25% sacrifice created an oil glut. Would BO lower their prices? If they did by some miracle, the OPEC may lower their output by the same amount or, if they wanted to be nasty, a few percent less.
Lacking that, nothing is going to change. Thereโs no doubt that. We're going to experience a rather quick life-style change and that pain will be experienced by all except the oil industry. If the rest of the citizenry has to make major sacrifices, so should BO. Cut the profit margin by 2 percentโ4% if they don't do what ever is necessary to enhance/produce adequate refinery production.
How can a person making $400 million per year understand the plight of a low wage earner who pays $4-5 per gallon for fuel/heating oil and drives 60 miles per day to work and back?
I think many CEOs are like the CEOs of Bethlehem Steel, Enron etc. They will rake in money and make themselves golden parachutes; and in the process, send the economy (local or national) into oblivion if given the opportunity. The weak spot in capitalism is excessive greed and thatโs why we have laws supposedly designed to control it.
You may consider a 6% or 8% profit obscene, but look at it this way. If you have a 401-K, IRA, SEP, pension plan or have any type of retirement plan, like it or not, you are likely invested in Exxon/Mobil (otherwise known as Big Oil on this forum), Walmarts, Microsoft, IBM, etc. So the โscreweesโ(all of society) are getting micro bread crumbs from the โscrewersโ (BO)? That certainly doesnโt justify jeopardizing a nationโs economy unless you are the โscrewerโ. Why canโt a portfolio contain those mentioned above and exclude BO? Therein lies the greed factor. Donโt portray BO as an instrument to sustain/save the system when itโs really burying it.
You don't invest that money with the expectation of getting a 2% return on investment. You expect a return of 6%, 8%, 10% and hope for even more. Some of that obscene profit is re-invested and some is returned to investors.While most of it goes to fat cats and some investors that are surprised at the obscene โturn of eventsโ i.e. profits.
Until this Nation realizes that 20.7 million barrels (not gallons) of oil every day (and rising?) is not sustainable, the laws of supply and demand (economics 101) are going to dictate that the prices are going to continue to rise. Do you feel speculation is a โthreatโ or didnโt you read that paragraph in my previous post?
Before I get to 8 paragraphs its quit simple, cut the demand the prices will fall.They didnโt. Apparently itโs not that simple. If you keep doing the same things, the same way, you can expect the same results.No doubt about it.