Why Doesn't the Government
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  1. #1

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    Why Doesn't the Government

    Go after oil companies for price fixing, etc.

    All the oil companies do is say, we shut down these plants, didn't make enough of this formulation, etc. and then they jack us all up at the pump.

    THeir profits are up something like 50% and this is not a issue of national importance to the government.

    I took a tour on a boat to the oil platforms with Venco and the guy asked for questions.

    I asked, Are we getting ripped off by the oil companies. He said, it's an open market.

    Everyone there said, that means yes. Why no action against these pricefixers.

    Why is gas 20-30 cents more in the same county just 4 miles down the road. Urrr.

  2. #2

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    Well, first there's Arbusto....

    The easy answer, to which I subscribe about 75 percent, is that there's a LOT of oil money in Congress, as well as a failed oil man in the White House and a successful one as Vice President. Bush is never, ever going to back anything that doesn't contribute to enriching the oil industry, and I'm sure Cheney will step right back into a multi-million dollar oil salary as soon as he's out of office.
    Having said that, though, looking for oil is an expensive, uncertain and error-prone business. There's a huge potential for profit, but also a significant one for loss, and they deserve to make money on their risk and investment. Whether the profit they make is excessive is another issue, and one we can't resolve because there's a LOT of oil money in Congress, as well as a failed oil man in the White house and (repeat until you fall asleep).

  3. #3
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  4. #4
    53T
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    50% Oooooowwh.

    Quote Originally Posted by Flip Flash
    Go after oil companies for price fixing, etc.

    THeir profits are up something like 50% and this is not a issue of national importance to the government.

    Why is gas 20-30 cents more in the same county just 4 miles down the road. Urrr.
    A 50% increase in profit doesn't necessarily mean a lot of money.

    The fact that gas is cheaper down the road is evidence of no price fixing!

  5. #5
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    Not necessarily "price fixing" BUT the oil industry plays with costs. I've seen prices low in areas where they have to truck gas many miles in land. Yet, in areas where the "people" can pay more even with an oil refinery down the street it cost more.

    I agree that finding oil is costly, and that companies need to make a profit but the way they "flex" pricing is BS. On that note the American public needs to understand that in order to get away for middle east oil we need to produce more of our own.

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