Oil company profit hearings
#16
11-09-2005, 10:10 AM
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Originally Posted by SAJEFFC
I too have no problem with them making a profit, my problem is with them breaking it off in us just because they can. I think they took advantage of the American public during the hurricane fiasco and now all of a sudden prices are back down almost $1.00 a gallon......bullsh#$. They have us by the ba!!s and they know it. Let a car dealer make 9 billion profit one quarter and see how long they last...people will go somewhere else....duh! Oil companies know we have no where else to go so we're fair game. The sad part is that they will put this economy in a tailspin (already happening, look at new car sales) that will take years to dig out of. We may need their product but we sure don't have to like or defend them. Screw em!!! 
#17
11-09-2005, 10:31 AM
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Well said? That makes at least 2 of you who have no idea how the thing works then.
Here is some news for you. OIL COMPANIES DO NOT SET THE PRICE OF OIL.
In today's global markets, the price of crude oil is set by movements on the three major international petroleum exchanges, all of which have their own Web sites featuring information about oil prices. They are the New York Mercantile Exchange (NYMEX, http://www.nymex.com), the International Petroleum Exchange in London (IPE, http://www.ipe.uk.com) and the Singapore International Monetary Exchange (SIMEX, http://www.simex.com.sg).
On these markets, Oil and Gas is in effect auctioned off to the highest bidder.
Again, if there's lots of oil and not many buyers, the price goes down.
If there's not much oil (such as OPEC decreasing production or a Hurricane and there's lots of buyers, the price obviously go up.
Refer back to the statement about gas dropping $1/gallon. If the Oil companied were only interested in profit, that buck would have stayed on.
Again. sticking with your reasoning, yes, they have us over a barrel (pun intended) so they could make gas $10 per gallon and make some serious profit.
Given the current supply and demand, you are actually paying a fair price.
I filled my truck up in England on Saturday and it cost me $140
That's our socialist govt. price gouging on taxes.
Here is some news for you. OIL COMPANIES DO NOT SET THE PRICE OF OIL.
In today's global markets, the price of crude oil is set by movements on the three major international petroleum exchanges, all of which have their own Web sites featuring information about oil prices. They are the New York Mercantile Exchange (NYMEX, http://www.nymex.com), the International Petroleum Exchange in London (IPE, http://www.ipe.uk.com) and the Singapore International Monetary Exchange (SIMEX, http://www.simex.com.sg).
On these markets, Oil and Gas is in effect auctioned off to the highest bidder.
Again, if there's lots of oil and not many buyers, the price goes down.
If there's not much oil (such as OPEC decreasing production or a Hurricane and there's lots of buyers, the price obviously go up.
Refer back to the statement about gas dropping $1/gallon. If the Oil companied were only interested in profit, that buck would have stayed on.
Again. sticking with your reasoning, yes, they have us over a barrel (pun intended) so they could make gas $10 per gallon and make some serious profit.
Given the current supply and demand, you are actually paying a fair price.
I filled my truck up in England on Saturday and it cost me $140
That's our socialist govt. price gouging on taxes.
#18
11-09-2005, 10:42 AM
I do understand how the oil market works English and I am aware that oil is sold on the commodities market. My rant was merely blowing off a little steam at the whole industry in general. I agree that the Europeans have been getting screwed for decades on the price of oil but they don't seem to want to do much about it so that's their problem. In reality, there is not much we can do about it in this country either but it helps to vent a little! 
P.S. Did you get the Harley all cleaned up? Beautiful truck that is. 
P.S. Did you get the Harley all cleaned up? Beautiful truck that is.
#19
11-09-2005, 10:51 AM
I worked for an oil company as a financial VP back in the 70s. I had to get out of the industry as the things I saw taking place were eating me up. There is so much that goes on, you would not believe it. It is called old fashioned greed. But, it is not particular to the oil industry. People figure out ways to beat the system, some illegal, some gray, some legal. The problem with the oil industry is that there are too few refinerys for such a necessity. When there are so few involved, it is too easy to manipulate.
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#20
11-09-2005, 11:05 AM
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What truly amazes me...and I mean this sincerely...is
How upset people get with Oil companies, Wal-Mart, etc.
Yet the government is the biggest profiteer going. They tax us relentlessly and spend it in turn. Our govt is growing and is more controlling than at any other time in history. We get upset over .50 a gallon at the tank but just accept billions of dollars of OUR money being wasted. We spend money on social programs, foreign aid, pork programs to keep contributors happy, etc. Social security is a joke, I’ll never collect a dime nor be able to bequeath it to my children. We are raising and educating citizens who are more dependent upon the government than ever before. There is no shame in welfare, or Independence cards (what a name).
This isn’t an attack on either party. I hate them both. They are robbing us of our freedom and our money and we just accept it quietly as long as the Democrats can get our prescriptions paid for (regardless of the costs) or the Republicans can keep the stock market roaring despite serious problem lying just under the economic surface.
Our citizens deserve everything they get. They are apathetic regarding their freedoms and rights.
This country is destroying itself right before our eyes…rotting from within and we are worried about $3.00 gasoline.
I’m gassing up my truck and someone asks me “doesn’t it bother you to pay $100 for gas? Somebody should do something.” I ask him how much he paid in federal, state, local, fica and medicare taxes on his last check…he looks at me with a dumbfounded stare. “Yea I’m worried about an extra $30 in my tank.” Roll my eyes and pull off.
IDIOTS…
How upset people get with Oil companies, Wal-Mart, etc.
Yet the government is the biggest profiteer going. They tax us relentlessly and spend it in turn. Our govt is growing and is more controlling than at any other time in history. We get upset over .50 a gallon at the tank but just accept billions of dollars of OUR money being wasted. We spend money on social programs, foreign aid, pork programs to keep contributors happy, etc. Social security is a joke, I’ll never collect a dime nor be able to bequeath it to my children. We are raising and educating citizens who are more dependent upon the government than ever before. There is no shame in welfare, or Independence cards (what a name).
This isn’t an attack on either party. I hate them both. They are robbing us of our freedom and our money and we just accept it quietly as long as the Democrats can get our prescriptions paid for (regardless of the costs) or the Republicans can keep the stock market roaring despite serious problem lying just under the economic surface.
Our citizens deserve everything they get. They are apathetic regarding their freedoms and rights.
This country is destroying itself right before our eyes…rotting from within and we are worried about $3.00 gasoline.
I’m gassing up my truck and someone asks me “doesn’t it bother you to pay $100 for gas? Somebody should do something.” I ask him how much he paid in federal, state, local, fica and medicare taxes on his last check…he looks at me with a dumbfounded stare. “Yea I’m worried about an extra $30 in my tank.” Roll my eyes and pull off.
IDIOTS…
#21
11-09-2005, 11:07 AM
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Supply & Demand is a nice theory, but- some people can't see the forrest because of all the farking trees that are in the way.
Don't be fooled folks, we are getting raped by the oil comapny. Just because they use the KY Jelly of Supply & Demand to make you feel better in the beginning, doesn't mean the end result is anything less than penetration for pleasure.
The truth is, somebody is lying. OPEC says there is no reason for oil to be over $35.00/barrell. The Oil companies said it isn't them, and the state (At least TX) hasn't raised the taxes on gas recently, nor has the Feds. Big Oil said it's not them either. Well, then if everybody is clean- who's farkin' lying?
My guess it's the guys with the fat pockets... Unless of course, all of this is a conspiracy to make the oil companies look like the rapists, when they really are not.
------------------------------------------------
Lastly- I don't have a problem with Government regulation of oil & gas. It's essential to the movement of the people in this country. It's not like Mouthwash or Coca Cola or something. It is at the heart of everything. We all need it, and depend upon it, in one way or another. And, when a consumer HAS TO HAVE what you provide, you are in a position to screw them silly. (See Drug Dealers, specifically the one's dealing crack.)
Since we all have to have it to get to work, for busses to get kids to school, for bussed to roll, for taxi's, for airplanes, for the police, for ambulances, for our military, etc.. Since we can't get along without it, then we should be able to rely on steady pricing, a reliable supply and government oversight to make sure we aren't being gouged, by anyone... From the Pump in Texas, to the Field in Saudia Arabia, since we need it so bad, it needs to be watched.
Don't be fooled folks, we are getting raped by the oil comapny. Just because they use the KY Jelly of Supply & Demand to make you feel better in the beginning, doesn't mean the end result is anything less than penetration for pleasure.
The truth is, somebody is lying. OPEC says there is no reason for oil to be over $35.00/barrell. The Oil companies said it isn't them, and the state (At least TX) hasn't raised the taxes on gas recently, nor has the Feds. Big Oil said it's not them either. Well, then if everybody is clean- who's farkin' lying?
My guess it's the guys with the fat pockets... Unless of course, all of this is a conspiracy to make the oil companies look like the rapists, when they really are not.
------------------------------------------------
Lastly- I don't have a problem with Government regulation of oil & gas. It's essential to the movement of the people in this country. It's not like Mouthwash or Coca Cola or something. It is at the heart of everything. We all need it, and depend upon it, in one way or another. And, when a consumer HAS TO HAVE what you provide, you are in a position to screw them silly. (See Drug Dealers, specifically the one's dealing crack.)
Since we all have to have it to get to work, for busses to get kids to school, for bussed to roll, for taxi's, for airplanes, for the police, for ambulances, for our military, etc.. Since we can't get along without it, then we should be able to rely on steady pricing, a reliable supply and government oversight to make sure we aren't being gouged, by anyone... From the Pump in Texas, to the Field in Saudia Arabia, since we need it so bad, it needs to be watched.
Last edited by cia-agent; 11-09-2005 at 11:23 AM.
#22
11-09-2005, 11:09 AM
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#23
11-09-2005, 11:14 AM
There was regulation in the 70s. That was when I worked in the industry and the lying, the manipulation, the cheating to get around the regs was unbelieveable. That was why I chose to get out. People I had a lot of trust and faith in were right in the middle of it. I sat across from them in church. regs are just a temptation for a "get around" and actually caused prices to go out of sight. You would not believe the things that went on. Dummy cororations were set up that just shuffled paper, product never moved. Things like that were the norm. I could go on all day. Sorry.
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#24
11-09-2005, 11:29 AM
Many of you people hollering for 'government control' must not remember the gas shortages of the 70's. I grew up in the middle of it since my father owned a Shell station and I heard about it on a daily basis. I'm not claiming that the oil companies are perfect, all I'm saying is that trying to further regulate or tax the industry is NOT going to bring about the desired results. Virtually all 'windfall tax' schemes are destined to reduce supply and further push up prices. Price caps failed in the 70's, they are failing in Hawaii right now and they will fail again if imposed upon the oil companies nationwide. If you think you're paying 'too much' now, just wait until Uncle Sam decides to come to your rescue and punish the big bad profiteering oil companies!
#25
11-09-2005, 11:38 AM
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Rock on Vader!
Have you read P.J. O'Rourkes 'Parliment of Wh0res'? His closing sentance is dead one, 'I have seen the wh0res, and they are us.'
The average person is so ignorant in the day to day operations of this country, that it's pathetic. All they hoop and hollar for more $$$ from the Goobermint (our tax dollars), More services for their lazy azzes, etc. Everyone wants something for nothing but someone has to produce...
Have you read P.J. O'Rourkes 'Parliment of Wh0res'? His closing sentance is dead one, 'I have seen the wh0res, and they are us.'
The average person is so ignorant in the day to day operations of this country, that it's pathetic. All they hoop and hollar for more $$$ from the Goobermint (our tax dollars), More services for their lazy azzes, etc. Everyone wants something for nothing but someone has to produce...
#26
11-09-2005, 12:04 PM
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The only way this will ever change is to take oil/gas out of the futures markets and make them truly compete with each other like any other business.
That way, oil companies would be responsible for bringing oil to the end user (me and you) in the cheapest way possible.
SAJEFFC - All good now. Clean as a whistle. Whatever that means
That way, oil companies would be responsible for bringing oil to the end user (me and you) in the cheapest way possible.
SAJEFFC - All good now. Clean as a whistle. Whatever that means
#27
11-09-2005, 12:08 PM
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Originally Posted by EnglishAdam
The only way this will ever change is to take oil/gas out of the futures markets and make them truly compete with each other like any other business.
That way, oil companies would be responsible for bringing oil to the end user (me and you) in the cheapest way possible.
SAJEFFC - All good now. Clean as a whistle. Whatever that means
That way, oil companies would be responsible for bringing oil to the end user (me and you) in the cheapest way possible.
SAJEFFC - All good now. Clean as a whistle. Whatever that means
Just how would we accomplish that though? The peckerheads in charge of the futures markets would fight tooth, nail, and dollar because their precious bottom line is at stake.
#28
11-09-2005, 12:12 PM
What I find interesting (sad, ironic, depressing) is that all of a sudden, the Republican senators and congressmen who could CARE LESS about you me (and never will care about anything except $$$$$), are flocking to convene these hearings now that Bush is in the toilet. They want to APPEAR to care so as to posture for the next election.
Only a year to go before we throw the scoundrels out and regain control of America again!
Only a year to go before we throw the scoundrels out and regain control of America again!
#29
11-09-2005, 12:21 PM
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Originally Posted by jaymz
What I find interesting (sad, ironic, depressing) is that all of a sudden, the Republican senators and congressmen who could CARE LESS about you me (and never will care about anything except $$$$$), are flocking to convene these hearings now that Bush is in the toilet. They want to APPEAR to care so as to posture for the next election.
Only a year to go before we throw the scoundrels out and regain control of America again!
Only a year to go before we throw the scoundrels out and regain control of America again!
I hope you don't think the Dems will do any better. They want us to be on the European model of things. We need to impeach them all, but that's JMHO.
