Please no comments about how little they make...if that were true then we wouldn't have record reserves and record profits at the same time like we currently have.
When will the government step in and do their job of REPRESENTING the people? Gas in just another type of Utility which people depend on to survive. It means the price of food and transportation continue to rise as well as energy to power your home.When will the Justice Dept. step in and stop big oil?
Deregulation... Welcome to the New World Order, Where business interests come before the people they are supposed to serve. Where Lobby money takes the place of public stewardship, and Drunken spending is the mating call of the Gray haired Chicken-hawk Eagles...
edit; I'll be honest I am an anti-capitalist. I see the profit by a few with a whole lot of suffering for the many as an incurable evil...
Capitalism requires a certain personality type. The heavy handed Megalomaniac does well in the capitalist model because of a completely selfish internal drive... the leaders of Industry and banking historically are reputed ';bad men'; no one makes any excuse for it..anymore than anyone holds the Bush family accountable for their relations to the Bin Laden family, or the Carlisle Group who represent Saudis who we know have contributed to Al-Queada.
I don't Buy the Terrorist Myth for the same reason, extortion through fear.. it's not all that radical of a concept.. It's just as Americans we can't get our heads around the idea that we are Victimized by the very system we are ';trained'; to admire.
Globalism is now eviscerating the American dream, but that is Capitalism in it's purest Darwinian form..
Capitalism eating capitalism, excpt now.. we Americans find ourselves in it's crosshairs..
so.. the good news? after a couple more years of this we will gladly accept socialism fully the way , Norway, Holland and Sweden do now.
and we will be better off for it, for a time, but eventually that capitalist demon will come around again.When will the Justice Dept. step in and stop big oil?
Oil companies are there to give a product and make money. If there was no demand than the prices wouldnt be so high. Whether big or small oil companies, the prices will always be big. And it dousnt help that the dollar is declining.
If you propose the government tax the oil companies more, than you will just see oil prices going up even more.
Ending any subsidies for the oil industry would be a good idea. But government interference has always proven to cause more problems.
You're right.
Lets destroy all businesses who make profits.
Lets have a bunch of companies that loose money. Wait, then the economy will tank and so much for having jobs and our current standard of life.
Over 100 million people have 401K and other savings plans, which invest in corporations. Since oil companies are publiclly taded companies, their profits go into the pockets of those investors. Instead of jumping on Oil Corps, lets invest in new refineries and expand oil exploration. (increase supply)
basic economics show increase in supply will drop prices.
Not going to happen while Bush is still in office.
And honestly, I agree with you, but big oil holds all the cards now. They have completely bought off the govt. and will do whatever they want.
Just keep in mind that big oil influenced the CIA to assassinate the Democratically elected Prime Minister of Iran in 1952 after he nationalized their oil industry. Also, big oil got us into Iraq after Saddam threated to nationalize Iraqi oil and trade in Euros.
So, they're making record profits. That's good for the people whose own stocks, either directly or through 401k's, pension plans or mutual funds. It also supports their R%26amp;D efforts to increase oil production and develop alternative energy sources.
What, pray tell, are they doing that requires the intervention of the DoJ?
There's no law against making a profit.
They are not doing anything wrong. It is not illegal to make money off a commodity and companies are not driving up the cost of oil.
Also, Democrat's richest supporter (Soros) is making money from driving up food prices (commodities) and no one is complaining.
NEVER
Why didn't Bush ask them to drop their oil prices for U.S. consumers?He seems to look for all the answers in all the wrong places.
The Justice Department is part of the Executive Branch...I wouldn't hold your breath.
Enlist the fox to watch the hen-house, huh?
Yea. That'll go over real well with the best politicians money can buy, let me tell you.
They won't.
When did you flip flop and become a socialist?
when good judges are on the bench
I only hope the answer to your question is ';NEVER!';
But judging by all the thumbs down whenever anyone suggests that the market can regulate itself, I'd bet it'll happen sooner than later.
This is why the gov't should NEVER intervene in ANY economic situation in a FREE country: http://www.econlib.org/library/Bastiat/b鈥?/a>
This is why I hope the Justice Department keeps it's Socialist nose out of this situation!
http://www.econlib.org/library/Columns/y鈥?/a>
the speculative prices are a cause of concern, but thats not really what the issue is.
It has to do with supply and demand....we have to demonstrate the intestinal fortitude as a populace to enact change on our own accord for quite some time now, mostly by design (why do you think so many influential groups divide the populace?)
If we the people actually cut our consumption of oil by 5%, you would be shocked at the reaction from oil companies and our government. Our government knows that as a populace its very hard to mobilize a boycott of any large degree.
And all of this uproar about OPEC is another example of how many of us would rather blame an entity and demand they change, rather than grouping together and truly producing change. Stop driving, heating/cooling, using plastics, etc. as much. Stop purchasing or supporting anything coming from OPEC nations and start using the the very real powers that our populace and market have.
Supply and demand only works when the market lowers demand in an effort to affect the otherside......the power of NO needs to be realized.
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Why is everyone so focused on the supply end? Why do you and others expect more out of someone else than you are willing to concede yourself?
You want these companies/nations to increase supply? Well then lower your demand.....force a change. Until they feel a pinch, we'll never be respected....
When a populace acts like 300,000,000 individuals, we are about as threatening as a cockroach.
When a populace acts like one with the strength of 300,000,000....we become the 800 pound gorilla in the room.
I think you are asking the wrong question. you should ask, when is congress going to let the oil Co's drill for new oil and build new refinery's. if these are the problems why does congress keep stopping them? It is not against the law to make money no matter how ridicules the amount is. I don't really like the oil Co's but we'd have a very hard time without them and I like congress less. Be careful whom you blame for our situation, the fault lies with the American people themselves for not paying attention and being so wasteful not the greedy oil Co's and the politicians who love to stick it to us because were to chicken-sh*t to do anything about it.
I don't see anything wrong with them using what's there do you? After all Speculators ARE bringing th price of oil up and that's THE speculators fault not Exxon Mobile. Exxon and Conoco etc. are just charging the market price that speculators are forcing them to buy it for so of course their profits will go up. Exxon is a nasty company which was at one time Standard Oil from the biggest jerk or all Rockefeller BUT I see no problems with them making money off the speculators since it's not their fault.
Lets start off by saying Big Oil does not control demand, they can only ';control'; supply (and I say control loosely). Yes we as humans on this earth need to cut back on our demand on oil in general. So lets look at the supply end.
You want Congress to stop Big Oil, they are already doing that. Here are 10 reason for high gas price, mostly because of Congress.
1) Congress will not allow Big Oil to add more drilling platforms in the Gulf. Meanwhile countries, like China, are signing 100 year leases on new areas in the Gulf.
2) Congress will not pull back on Reg's on refineries. That's the reason why Big Oil has to shut down refineries is because of the increase reg's. This is also why Big Oil has not built a new refinery in the US in over 30 years. They are too busy trying to keep the current ones open.
3) Congress will not allow Big Oil to drill in Alaska. Thanks to the environmentalists. But the new drills are alot more cleaner than they were 40 years ago when when they started to grill in the North Slope.
4) Congress will not allow Big Oil to Drill off of the NC/SC or California.
5) Congress just past legislation to sue OPEC. So what do you thing OPEC will do, retaliate? Yes, Big Oil has to purchase oil from OPEC and if OPEC retaliate that the price will go up even more.
6) Congress will not, at least during the summer months, repeal the Federal tax on Oil/Gas.
7) Congress mandates that Big Oil must add different types of additives to gas. (each additive cost something).
8) When new oil is found, the environmentalists prevent the drilling by holding Big Oil in court. We have oil to tap but the courts have them tied up. (thanks again Greenies)
9) And do not forget about the dollar. The US Dollar currently weak against other forgein currencies. And since the price of oil is based in guess what. . US Dollar, the price will remain high.
10) There is only so much oil on the planet Earth. Back during the 50's-70's gas as cheap (under $1/gallon). Why? There were Trillions of gallons of oil in the ground with very little demand. Now that demand is up, the current wells are almost tapped out, unless additional wells are drilled.
So when you say Congress needs to do something, they already do it, only the wrong way. And you want them to ';tax'; them from their profit? What are we, the USSR? Is this Communism? Go ahead and tax them, it will only be passed down to the pump eventually which means will be paying even more.
Let's cut the red tape and allow Big Oil to drill.
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