I said there were many factors affecting the price of oil but they
aren't the same pressures that affect other commodities in a free
Corn and pork bellies don't have to deal with the greed and corruption
of the OPEC ministers and the fears sold to us by big oil and
But then again I must be wrong and you are always right. Check the
threat levels on the Homeland Security web site and live your life
accordingly. (June 8, 2006 The United States remains at an elevated
risk, Code Yellow, for terrorist attack.) Those colors are constantly
changing for your benefit and there is absolutely nothing wrong with
the fact that World War II was over in less time than we have spent
looking for Bin Laden and all we have accomplished is the deaths of
thousands of Americans.
You're right, it's just basic economics and Katrina so we must accept
it and not question those that profit from it.
Wake up trader4, I thought you were a big boy....
On 9 Jun 2006 13:30:45 -0700, " firstname.lastname@example.org"
No, corn just deals with ever changing weather/crop conditions around
the world. I've seen corn go limit down just because the 10 day
weather forecast for the midwest changed. Pork bellies can go limit
up or down several days in a row based on the latest cold storage
report. And large farming corporations that produce much of the corn
crop are as greedy as any other businessmen, as they should be. A
hurricane approaching the Gulf of Mexico sends gasoline futures higher
because traders start factoring in the possibility of refinery
shutdowns or damage to offshore wells.
So, what is your point?
And this has what again to do with the price of gasoline?
I never said that. I did say it is basic economics. Demand for oil
around the world is up. We haven't done what we should to help
increase supply, like opening up offshore drilling and drilling in
ANWAR. Americans have chosen to buy SUVs that require more gas than
other vehicles. Katrina did knock out production in the Gulf and
much of it is still out as the offshore platforms were totally wiped
out. You have the OPEC countries acting as a quasi oligopoly. Those
are the main factors driving prices. It's nothing unusual or that
hasn't been seen before or that needs a conspiracy theory to explain.
You seem to think at various times that some of the above are major
factors in determining the price of fuel. But then you tell us it
all could have been predicted because Bush is responsible for it
because he was in the oil industry. Then you throw in more political
crap about the hunt for Bin Laden, as if that has anything to do with
the price of fuel. Or try to tell us that the requirements for
cleaner fuel haven't been constantly evolving, which I showed you is
flat out wrong. It's not a major factor, but it does make producing
fuels more costly every year. You on the other hand, claim that fuel
prices should be lower today because of "technology", but then can't
tell us what technology you are referring to.
As for profits, I pointed out that the oil companies profit on a gallon
of gasoline is 10 or 15 cents, which certainly isn't all that much.
The US govt then gets half of that as corporate income tax that goes
straight into the treasury. Meanwhile the govt is taking about
another 25-30 cents in direct taxes on a gallon of gasoline, yet no
one seems to be bitching about that. The profits of the major oil
companies are used to search for and produce more oil or returned to
the stockholders as dividends. The stockholders include a decent
percentage of ordinary Americans who have IRAs or pension plans that
are invested in oil stocks. So, even a good bit of the profit after
taxes directly benefits the American people.
I am awake. It seems you are the one having pipe dreams about Bush oil
You should use something that actually has been tested and verified to
save gas mileage according to th DOT.
They found 8% to 27% increase. Works on diesel too:
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