Comments are closed for this entry
View All
Favorites
Recency  | 
Popularity
Page:  « First  ‹ Previous  2 3 4 5 6  Next ›  Last »  (6 total)
12:14 AM on 02/15/2009
Because what we were taught way back in high school Econ. class about "supply and demand" is b.s.

The entire system is fixed and can be manipulated to the will of whoever is in control. This is the exact reason for the need of gov. regulation. The Republican mantra that, "The Market will always get it right" is a fairytale.

It's overt meaning is that consumers control the market and therefore will set prices at an appropriate place, but covertly they mean that industry controls the market and they will set prices where they want them to be.
07:54 AM on 02/15/2009
Oh, the market always does get it right...if you define getting it right as maximizing the profits of the owners.
photo
HUFFPOST SUPER USER
Michael Briggs
Liberal is Better
09:22 AM on 02/15/2009
ABSOLUTELY! The Rethugs have been shouting the free market concept for ages now, but it's just so much hot air. There's nothing free about a Rethug market. It's fixed from the get go.

Republicans can not be trusted. Period.
11:58 PM on 02/14/2009
I think that's what I dislike the most about Republicans. They don't make much sense. They hate the entire "Climate Change" theory, and want us to be dependent on fossil fuels, but don't they realize by resisting green technology they're forcing us to be dependent on OPEC? I don't get it, I really don't. This out of anything else, you would think they would be firmly behind President Obama with. Yet, in order to preserve their precious partisanship, they choose to be jerked around like puppets by OPEC.
photo
HUFFPOST SUPER USER
Tom95134
11:37 PM on 02/14/2009
"...supplies have shot up 142 percent in four months.

On the other hand, gasoline supplies are tightening—now below where they were a year ago—as refiners have cut back on production due to slow demand."

In other words, the oil companies are manipulating the supply by adjusting refining in order to maximize profits.
photo
HUFFPOST SUPER USER
drkazmd65
Mom Taught me - Question Everything - Thanks Mom!
11:47 PM on 02/14/2009
"In other words, the oil companies are manipulating the supply by adjusting refining in order to maximize profits."

And this would be a 'shock' to whom Tom? Of course they are manipulating the price in order to maximize profits,...

It is what they always try to do at big oil,...
01:43 AM on 02/15/2009
They need to be made to refine at maximum capacity. The summer driving season will, just like it does every year, strain supplies because the refineries won't be able to keep up. This slow time should be used to increase stocks.
07:30 PM on 03/14/2009
How does it make sense to refine more than the market will buy? What about profit, are oil companies allowed to make money?
11:33 PM on 02/14/2009
Because they're sc----ng us again.
This user has chosen to opt out of the Badges program
01:16 AM on 02/15/2009
But the O was to save us from all this?
This user has chosen to opt out of the Badges program
04:00 AM on 02/16/2009
yeah, I mean, the guys been pres for what, a whole month now? Get real!
photo
HUFFPOST SUPER USER
tbone99
cruisin' duality
11:23 PM on 02/14/2009
The decrease was just a ploy to help the Repugs during the election cycle. Now thatthats behind us , there's no reason to keep it artificially low.
11:20 PM on 02/14/2009
Umm?

Because they think we aren’t watching?

OR,, nobody will complain because gas is NOT $4.99 a gallon,,, YET?

Because lower gas prices did not save us the collapse of the Banking Industry?

Because Bush and his Oil Buddies wanted us to elect his friend John McCain and now we are being punished for rejecting Drill Baby Drill,,, Palin?

Because Bush needs money to build his Presidential Library????

Because it still costs Millions per Tanker to ship oil from the Mid East?

I give up!

Why?

All the best

Knute
photo
KISSman
KISS fan, lefty liberal, cat whisperer, etc.
11:17 PM on 02/14/2009
Why is it that no matter what the price of oil, we are the ones who get screwed in the end?? The whole thing is a scam.
This user has chosen to opt out of the Badges program
photo
11:06 PM on 02/14/2009
These companies have the most fraudulent way of doing business. Up is down and down is up. There is no reason for gas prices to be high other than the oil companies must have their entitled money. Greed is the alter at which they worship and there is ALWAYS some excuse that makes no sense at all, for them to continue to worship and steal from everyone. They have gotten away with it, so they deserve to continue. Time to start looking into regulating this lot as well.
photo
HUFFPOST SUPER USER
Michael Briggs
Liberal is Better
09:26 AM on 02/15/2009
You're right. Rethugs love to damn anything smacking of entitlements, unless it's an entitlement that lines their pockets.

Regulation, Regulation, Regulation! The time for entitled profits for oil companies is OVER.
photo
RJII
Self Sustainability is the Future
10:54 PM on 02/14/2009
I have a dream that some day alternative fuel is the norm and we are rid of our dependency on the middle east, and we can say F- the Bush types.
11:22 PM on 02/14/2009
no, you can look at the off shore refineries in the gulf. They have intentionally cut production to increase oil cost to pay salaries and bonuses.
04:35 PM on 03/13/2009
Offshore refineries in the Gulf? There are no such things, you do not know what you are talking about.
10:48 PM on 02/14/2009
I guess maybe we should slow our driving habits back down....
photo
HUFFPOST COMMUNITY MODERATOR
TXfemmom
Grandma with eye on the future
10:39 PM on 02/14/2009
I live in Texas. It is an open secret, and with two family members in the business it is widely discussed, that all the refineries have fuel stuffed everywhere. They are not reporting true statistics as to the supply available. Oil is sitting in every possible tanker, just sitting out in the Gulf of Mexico and elsewhere, waiting for prices to come back up. It is time for our government to step in and force the refineries, who have joinly comspired and are only operating at just eighty percent below capacity and with stores in reserve which are not being reported, to stop ENRONING and GOUGING.
01:27 AM on 02/15/2009
I used to work for Exxon. in the 80s, all the big oil companies agreed agreed to together form joint ventures. In doing that, they also agreed to shut down refineries to reduce throughput so no matter how much supply there was, they could control the supply that could reach the US consumers. When the public complains about prices, Big Oil blames the Saudi's for limiting oil output, via cartels-totally untrue. Big Oil also sold their retail pumps and leased them to others. So when they rise the prices, the pump leasers are forced to take a hit while Big Oil collect greater profits with no risk. Big oil controls supply can raise prices to what they want and never deal directly with consumers. Also, the $.75 you pay per gallon for are pure profit on top of oil because 20 year old technology that cost virtually nothing can enable gas to burn more efficiently. You also have Big oil blaming regional gas mix requirement for not being able to share the regional gas-thereby limiting supply further-Big oil blames environmentalist, but they created the. If you notice, each time interest rates when up, big oil was raising the prices. Each time their was a stimulus, big oil also raise gas prices because they knew it was out there to be taken. The same will happen on the next stimulus package-they are already raise prices to take as much of it as they can
04:45 PM on 03/13/2009
It is a shame that you didn't work in a job where you learned a little something about the business. Where is the proof of the collusion you refer to? Why has this never been uncovered in the countless congressional investigations of the oil patch? Oil companies for mjoint ventures, now that is SHOCKING!!! Perhaps it is because of the scope, risk and cost of risking billions of dollars in the search for oil and gas-no that's just an excuse to collude, right?
10:33 PM on 02/14/2009
The Obama admin should look into applying existing laws on war profiteering. The Senate Phase II report has established that the prewar intel was manipulated thus the deliberate misleading statements designed to start a preemptive war.

The question is was there any profit motive for illegally invading a sovereign country? Given what actually took place, with respect to petroleum based fuel prices during the BA, it is highly unlikely that serendipity was the cause of the spike in oil and gas prices.

If an investigation into this matter turns up evidence that during Cheney's early DOE meetings discussions took place on how energy and oil companies could benefit from this war, then there is a sound basis to pursue war profiteering charges.

Recall that Cheney has consistently refused to release the contents of the DOE meetings to date. It could be an empty rabbit hole, but should be thoroughly investigated nonetheless.
10:31 PM on 02/14/2009
I worked for a major oil company as a scientist and was exposed quite a bit to refinery and retail operations.

When price of crude falls too low some refineries can actually have a hard time getting crude because their suppliers will hold on to the crude until the price comes back up. They literally close the spigot.
This results in less production of gasoline; less crude less gasoline.

The above tends to impact refienries that have limited options to sellers of crude.
photo
HUFFPOST SUPER USER
tbirdalum
10:40 PM on 02/14/2009
Thanks for the post, sc. OK, everybody, start rationing how much gas you use until the dips have crude up to their eye-balls. Maybe we can get these crooks hurting so bad that they will pay us to put some of this liquid gold into our tanks.
photo
Chlowina
Why so much hate???
11:26 PM on 02/14/2009
hahahahahahahahahahahahahahahahahaha

They're rather see us drown in it before giving us a break.
photo
HUFFPOST SUPER USER
lattedrinker
sippin' the un-tea like a good socialist.
10:51 PM on 02/14/2009
That is BS. When gas was $1.50/gallon they were able to refine just as well as when the choked the world for money and gas shot-up to it's highest during the summer. This is about greed, plain and simple. OPEC wants their money!
photo
HUFFPOST COMMUNITY MODERATOR
rich misty
Greed is not Patriotism
10:30 PM on 02/14/2009
Republicans love it when corporations steal from Americans. They think they should be rewarded with tax breaks, the more they hurt the country, the bigger tax breaks they deserve.
photo
HUFFPOST SUPER USER
Michael Briggs
Liberal is Better
09:35 AM on 02/15/2009
You're right. Sometimes I think Republicans hate America so much and are willing to allow bad things to happen to America because on some level they hate freedom and Democracy. They crave restrictions and dictatorships. They want a world in which people are told what to do, what to think, etc. (as long as they are the ones in charge).

Republicans have long decried communism and socialism because both systems are based, in theory, on the power of the people. Give them a good authoritarian dictatorship, and Repubs will squeal like contended pigs.
photo
HUFFPOST SUPER USER
Michael Briggs
Liberal is Better
09:38 AM on 02/15/2009
It really is an issue of control. Republicans fear too much freedom. They crave control, as long as they get to be the ones controlling others.

Think about it. From gas prices to abortion to gay marriage to the stimulus package, Republicans seek control. They demand to be in charge.
10:17 PM on 02/14/2009
The price of oil, a commodity, and the price of gasoline, another different commodity, are set by the traders who work the commodity exchanges. They don't actually have a whole lot to do with each other, though they do tend to be loosely correlated much of the time.

You want to see where the price of gasoline at the pump is headed? Watch the futures prices on sites like nymex.com. It's going over $2 soon and it won't be back down below that for a while. Gasoline futures for next month delivery were going for around 90 cents a gallon back in December. Right now March delivery is going for $1.20, and every month after that is $1.30, right through August. Unless something big happens to reverse that trend, we're not likely to see gas at the pump for $1.40 again any time soon.