More proof oil companies are ripping us off - Page 3

They oil companies will stop oil speculation as soon as they need to
keep the price within some window of affordability.  Here is where
some might think I am uncharacteristically preaching market forces.  I
think that price controls and tax breaks/credits have the same
inflationary effect on prices.  Let's let the oil companies sink or
swim on their own business acumen like the rightwing wants the lowly
wage earner to do.


=====================
One of the problems with letting market forces rule the day is that the
consumers are not voluntary participants in energy markets. That is,
consumers volunteer to buy a television or peanut butter. They decide there
is a need, so they step into the market and participate. If they don't like
the market condidions, then they wait until they do and make other decisions
in the mean time. They volunteer to play the game or sit it out, and this is
a true market-driven pricing arrangement.

Energy, on the other hand, is not a voluntary activity. One can make
decisions that cause him to play the game more or less often, but one cannot
elect to not play the game. One is compelled to buy energy, one does not
volunteer to buy it. Since the consumers are compulsory participants in
energy markets, then there is not a market-driven pricing arrangement. The
energy sellers know you will need more energy, so they can set the price
wherever they want and you will ultimately have to wade into the pond and
make your purchase. The producers of TVs and peanut butter will drop the
price, or inprove features to support the prices, to attract you to the
marketplace. This creates consumer-driven pricing.

Even if you dump your 10-mpg Suburban for a 40-mpg Civic, you will
eventually be compelled to make another energy purchase. The refiners know
this, and they set the price wherever they can. You have to plug your
refridgerator in, and the guy on the other side of the wall outlet knows
this and sets the price wherever he can. This creates supplier-driven
pricing.

They oil companies will stop oil speculation as soon as they need to
keep the price within some window of affordability.

===========

The only way they could stop speculation is to shut down the exchanges which
handle the business. They might be able to do this if they can throw more
money at regulators than the investment banks which profit from handling the
trades. This is an unlikely scenario.

On Sat, 26 Feb 2011 14:29:45 -0500, "JoeSpareBedroom"


Oil companies report profits greater than any other business in the
history of the world.  



Dr Jeff says otherwise.
--
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... and they do it in years when they don't sell as much gas as the year
before.

wrote:


You're off from the very start.  The number of US workers employed by
foriegn oil companies is not as great as the number of american
workers they effect by surging oil prices just to get profits.

That's ok though, you'll soon be paying 5 bucks a gallon for gas and
you'll love every second of paying for it.  
--
gburnore at DataBasix dot Com
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On 2/26/11 11:20 PM, Gary L. Burnore wrote:

Oil companies don't report profit margins bigger than other businesses
in the world. They are in line with utilities and other businesses.

The only reason why the dollar value of oil companies are so high is
that the oil companies are so big.

Apple and Google also report huge profits.


I never said otherwise. I did ask for evidence for the poster to back
his claims.

I have seen that claim before, but no evidence for it.

If you buy less of their product, their profits will go down.

Ed

Yes, we know that, Ed. But for many people, there's a "floor" below which
it's impossible to lower consumption any further.

I am sure their are such people, but I don't know many of them. Most people
I know have the opportunity to decrease their use of gas/oil/electricity
significantly. The fact that they choose not to tells me the price of oil is
not so out of whack as some people claim.

Ed

Out of whack when? This week, or three weeks ago? It's got almost nothing to
do with supply and demand.

Sure it does - with preceived supply. Is there plenty of oil, yes there is.
Are people now riding around with an extra 5 gallons on average - I bet many
are. Panic buying leads to price increases. Oil companies want to make as
much as they can (as do I). I suppose you are one of the hopeless liberal
whiners who wants to blame all of the worlds problems on big corporations.
Man-up, quit being a whiner. If demand drops by 10%  gasoline prices will
fall. Do something positive. Quit spreading the loser gospel.

Ed

1) You said "preceived (sic) supply". That's correct, but it's the
perception of speculators that moves prices.

2) "hopeless liberal whiners"??? I never claimed oil companies were behind
the pointless, erratic price swings. If you disagree, go find the text typed
by me which backs up your accusation. Copy and paste that text into your
next response.

3) When I (and others here) use the word "speculators", who do you think
we're referring to?

On Mon, 28 Feb 2011 10:06:22 -0500, "JoeSpareBedroom"


He supports high oil company profits simply because those he percieves
as liberal are against it.   Plain and simple.   Pathetic too.

--
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On 2/28/11 8:43 AM, JoeSpareBedroom wrote:

It also has nothing to do with the cost of the pollution generated by
the oil, including the green house effect.

jeff

On Mon, 28 Feb 2011 08:34:38 -0500, "C. E. White"


I know lots of them.

I know many who, because of this recent increase, can no longer afford
to donate their time, automobile and gas for meals on wheels.  Old
people will die.  There's your death camps again.




The price of oil is near where it was when they pushed the price of
gas from $1.25 to $2.00.  Then the price of a barrel went down. But of
course, the price of gas didn't go down.  Now the price of oil is back
around $100 again and the price goes up to $3.50.  The price of a
barrel will drop again and, of course, the price of a gallon won't go
down.

Now, I know the rethugs who want Obama to fail at any cost will be
happy because the recovery we're in will suffer because of the price
of fuel.  Do you care?  Bet not.
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On Mon, 28 Feb 2011 08:09:37 -0500, "C. E. White"


Actually, in this case, they'd simply raise the price a little more.
Thing is, it's as Hach said, you can do without an IPad or IPHone but
you can't do without getting to work or school.  The oil companies did
an excellent job of lobbying away our chance at a nationwide public
transportation system in favor of $.13cent gas.   Now that it'd take
hundreds of billions if not trillions to make a nationwide
transportation system, prices of gas skyrocket.  Coincidence?  Not.
--
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On 2/28/11 7:52 PM, Gary L. Burnore wrote:

Why? When we used less gasoline starting in about 2009, with the
recession, did the price of gasoline go up or down?


And who created the national transportation systems? We did. Instead of
improving the national passenger rail system, we went for interstate
highways. Instead of fuel efficient cars, we went for SUVs and pickups.

Jeff

They can only rip you off becasue you let them. Cut down on consumption.

Ed