on the other thread i started taxes and who profited from oil and gasoline was brought up. here's a link that sheds a little light on this topic.-Paul
http://money.cnn.com/2008/03/13/news...ex.htm?cnn=yes
Printable View
on the other thread i started taxes and who profited from oil and gasoline was brought up. here's a link that sheds a little light on this topic.-Paul
http://money.cnn.com/2008/03/13/news...ex.htm?cnn=yes
Companies that invest billions on a speculative basis have a right to earn a profit.
Paul, you have whined on every thread regarding the price of gasoline.
Do you have anything contructive to say like how you would propose regulating the price?
Oil is a global commodity so, lets hear your solution.
One of my favorite democrat-leftist-moonbat, Maxine Waters not too long ago said she favors nationalizing the oil companies. There's your answer.Quote:
Originally Posted by paul young
We live in Cuba now.
yes, i do have a constructive suggestion; prohibit oil futures trading.Quote:
Originally Posted by Franco
the current spike in prices has no real basis; Libya produces LESS than 1% of the world's crude oil and it is sold to the europeans. it is just people selling contracts back and forth, capitalizing on the sensational accounts in the media.
do you like the price you're paying for gasoline, Franco? at what point are you going to whine? if you check the "high gas prices" thread, page 5 thru the end, you'll see i have a lot of fellow "whiners".-Paul
No I don't like the current prices and blame the current administration's policy for the spike. We cut production which led to OPEC cutting production.
If you eliminate futures trading, then how would you determine the price per barrel?
Remember, oil is sold on the global market. All those companies you have named have the majority of their prefered stock owned by the Saudis.
I hate sending my money to those low-lifes but, I don't see how any one country can set the price. They will just sell it to the countries/buyers willing to pay the price.
Unless you want to Nationalize the domestic industry which wouldn't work in regards to price fixing. Then you would have to account for government waste and corruption which would drive the price higher than the speculators.
Like I said on another thread, if we want the price to come down, then we will have to get serious about increasing domestic production. That would move the speculators in driving the price down.
Remember, these speculators lose as much money as they make. They gamble both ways; on increases and decreases.
Quote:
Originally Posted by paul young
NO, actually what you have are a lot of ingnorants when it comes to a global commodity like oil.
All of you think the oil "futures" business is being run up by some dude in front of a computer, taking advantage of the poor slubs like yourself that don't know what you are doing, but thought you'd put a few thou into that commodity market, and got skinned.
I realize there might be a few of those type of trolls messing in that market, BUT the vast majority of the "futures" buyers are such scoundrelly characters as the airline industry...the heating oil industry...the farmers filling their reserve tanks for the upcoming planting season. All are concerned about that supply, and as they buy, that good old capitalistic slogan of "supply and demand" kicks in.
It's very similar to the "futures" causing the grain commodities to be run up by those scoundrels at General Mills, Kellogs, Post, and others trying to get ahead of the market for their raw materials so they can produce your breakfast food.
Many think that turning your corn flakes into ethanol is driving that price too high, but for all it's other faults, ethanol at the pumps is not the main cause of high corn prices. Little things never considered by the huge populations along the east coast, like floods and tornadoes in the corn belt, reducing quantities, is causing far more commodity upticks than what the ethanol plants use.
And since cotton is seldom on anyones 'need' list, and I'm betting it isn't one your oxen being gored, you could care less if that is at a multitude of it's all-time high cost. But if you are a buyer for Fruit of the Loom, or Jockey, you are no doubt getting damned concerned as to how many shorts and t-shirts you'll be able to sell at those inflated prices.
What you aren't considering, Paul, and what Franco and others are attempting to explain, it's NOT some bastardly oil company or some equally badass gremlins causing you to pay more at the pump. In fact, if you weren't always giving your Obama/Democrat-led batch of environmental whackos a free reign to stop the wells that were producing from returning to productivity, and putting the kybosh on any form of refinery construction, along with opening the regions that are just waiting to be drilled, you could be getting along real well without any of that Libyan oil.
UB
ahh....i see....it's actually MY fault....but not yours. GOT IT!!!
How incredibly childish.Quote:
Originally Posted by paul young
UB
how incredibly boorish.-PaulQuote:
Originally Posted by Uncle Bill
UB, it amazes me how Democrats villanize the companies that keep this country rolling yet fail to blame the real culprits.
Obama has only issued one drilling permit for the gulf in the last year. Under Bush in 2001 new areas in the gulf were opened up to drilling. With that annoucement, the ppb dropped to $33.!!!
Yet, the current administration still thinks that thier war against oil companies is the right thing to do as the Dems are notoriuous for playing to the lowest common denominator among the electorate.