Hmmm...hurricane risk is dropping and demand is down, and now prices are going down!?!?!?!!? You mean there really is something to the whole supply and demand thing! Amazing! Congress should hold hearings about why prices are going down so fast.
they should investigate consumers to make sure there isnt something fishy about these windfall savings.
a vast right-wing conspiracy to tilt the upcoming elections!!!!!!!!!!!!!!!!!!!!!!!!!!!!! damn bush!!!!!!!!
You are trying to tell us that oil profits do not affect the price of gasoline. That's absurd, my friend. You miss the point. Oil companies have a legitimate profit margin (which is part of the cost of gasoline) for the work they do to transport, refine, and market the gasoline. When the price of the raw product goes up, they pass it along to the consumers. It costs them no more to transport, refine, and market $75 oil than it does to do the same with $50 oil. Yet, at a time when consumers are squeezed by high Arab oil prices, Big Oil also adds a profit margin to the increased raw product prices and end up making billions of windfall profits even though they have done nothing to earn it. They just take advantage of higher raw product prices to make more bucks at the expense of the consumers. Then they complain that it is lack of refining capacity that is to blame, yet they do not spend these profits to address that problem by building more refineries. They have no incentive at all to hold down prices or solve the refining problem because they can pass on all legitimate increases to the consumer and they can make tons of extra money if prices are high. It helps the corporate bottom line if there is always a shortage and prices stay high. They are getting it while the getting is good with a Republican Congress and an Oil Man in the White House.
How is that different from any other industry where a commodity is involved? Price of gold goes up and gold mining companies make more money. Price of pork goes up and pork producers make more money. That's the nature of commodity based companies. And don't let the facts get in the way of a good argument. Oil prices has risen about 190% over the last 3 years. Gas prices went up about 115% over that same period. They haven't passed on the entire increase to the consumers. Chart
I understand. I just feel that the energy industry is too important to our economy and national security to be considered in the same way as pork production. Your chart didn't link for me. But is this is true I can accept that. Is it a American prices chart or international prices?
Sorry about the link. It's Gas Buddy.com Scroll halfway down and you'll see See the Historical Price Charts on left side and enter the variables to see the chart.
the problem is that nothing the government can do can improve the situation any better than the free market can. so when you think the oil industry needs special oversight you are making this worse. the free market doesnt work perfectly, but it damn sure works better than the clumsy manipulation of the govenment.
I'm sure they sold it before stock prices started to fall. Probably pulled a Martha Stewart and got some inside info.:hihi:
