obama take on the high gas prices
- Thread starter RAYMOND
- Start date
Ray: I like how this article talks about alternative energy as "hugely wasteful". That's precious.
There are things the admin has done wrong.
I would say since the Dept of Energy was created, EVERY admin has done some thing wrong.
Also, releasing oil from the strategic reserves is nothing more than a political ploy and is literally a drop in the bucket.
Oil is up because the purchasing power of the USD has been destroyed by the extreme liquidity that the FED has pumped into the system since 2008.
OPEC will not allow oil to be devalued because the almighty USD reserve currency has been.
Watch the USD Index. When you see that start to rise, you will see oil and equities come down
I would say since the Dept of Energy was created, EVERY admin has done some thing wrong.
Also, releasing oil from the strategic reserves is nothing more than a political ploy and is literally a drop in the bucket.
Oil is up because the purchasing power of the USD has been destroyed by the extreme liquidity that the FED has pumped into the system since 2008.
OPEC will not allow oil to be devalued because the almighty USD reserve currency has been.
Watch the USD Index. When you see that start to rise, you will see oil and equities come down
Stevie:
Most oil drillers do not own refineries. They have mainly fixed costs to produce crude oil. The market price for oil is set on the NYMEX. So, they sell the oil they produced to refineries. If the cost of a barrel of oil is high, they reap the benefit because when oil was going for $40, they were still making a profit.
Also, many oil companies use future commodity contracts and future options on energy-based products to hedge themselves - in case prices get whacky.
Remember as well - there is a chain invovled here - middlemen.
Oil producer--->refinery---->distributor---->gas station.
Everyone in that chain is looking to make money as well.
Most oil drillers do not own refineries. They have mainly fixed costs to produce crude oil. The market price for oil is set on the NYMEX. So, they sell the oil they produced to refineries. If the cost of a barrel of oil is high, they reap the benefit because when oil was going for $40, they were still making a profit.
Also, many oil companies use future commodity contracts and future options on energy-based products to hedge themselves - in case prices get whacky.
Remember as well - there is a chain invovled here - middlemen.
Oil producer--->refinery---->distributor---->gas station.
Everyone in that chain is looking to make money as well.
Ok so then why can't we step in and put a limit on their profits? The last time around they we making record profits quarter after quarter. More than any industry in the histroy of the world. Meanwhile, our economy is choking. This is what I do not understand. Plenty of gas, no shortage.
SLippery slope, in a free market capitalistic society to be capping any one industries profits.
Why not Apple then?
And GE?
Why not Apple then?
And GE?
Hmmmm...Duke Energy just announced a profit of $288 million. The the state utility commission then gave them a 15% rate increase.
So...you can get fucked up the ass by pure capitalist Genentech charging $100 K for Avastin, which costs them maybe $29, and you can get fucked up the ass by utilities controlled by state regulators.
So, how do you like it? Your choices are dry and dryer. No kissing in either choice.
Fuck big oil? What is it with you, Raymond? Are you a true Republican capitalist, or some kind of commie-pinko liberal?
sir i am a american first and second big oil is killing this country and so this chichen head president who are all in bed together. i care more about you than you do about yourself, repeat i am on your side PLEASE WAKE THE FUCK UP:0003
No, Raymond, you are not on my side. You don't even know which side you are on.
Hint: You're on the side of whining crybabies.
I think we all know that they are in bed together. But,now that a Dem is in the white Gouse we may have a better chance of doingsomething about it. And I will tell you why. You hear all of our Republican friends bitching about Big Oil. Well when Bush was president these same people where all for Big Oil profits. I think the Dems are fed up and if the Republicans finally get on board we may be able to do something about it. Unless of couse a Republican takes the White House then all Big Oil profits will be ok to them again.
