Exxon/Mobil is 80% owned by foreign investors. They are noi an American Company. Bush used 9/11 like a whore, instead searching for the culprit who planned it (Osama), he invaded Iraq so Exxon could access mass oil fields, which Saddam refused to do business with. Over 1,000,000 Iraqis were killed for trying to resist the invasion, which any patriot would do if their country was under attack. All for Exxon, so oil companies=heroes,no they bought a president and launched a human massacre for oil
bull shit. stossel concerns more about profit and greed. incentive and greed motive do make a better life to some but at the expense of others. Bush's war in iraq is mostly oil. human live is less than oil. one of the executives for an oil company left with half a billion dollars when he retire. that is some compensation. #LOL
@KhmerD0g - you're too stupid and indoctrinated to know what profit means. People like you are so beyond stupid you think that wealth creates poverty. Fuck off to Cuba and you can live in a society without profit and see what real greed looks and feels like you stupid fuck.
bullshit to u. i piss on u. the greed of Wall Street is killing america. the big banks are getting huge bonuses while the rest of america gets the bill. just look at AIG, Goldman Sachs, JP Morgan, etc.
i hope u and your children spend eternity to pay off the 14 trillion dollars of debt.
@KhmerD0g, your criticism of Wall St is correct but misses the main culprit in this story.
This clip called "Overdose - the next financial crisis" explains the root of the current problem and is coming next (which is much worse) /watch?v=m6FNYvC4uyM
John Stossel is correct about capitalism. he defends the oil companies in this video is admirable but only if the oil companies compete openly and fairly. unfortunately they do not. they lobby the government to pass laws to benefit them like subsidy. that's not capitalism anymore. #OMG
the US dollar is toast. the BRICS just signed agreement to trade with each other credits and due away with the dollar. gold and silver are going up despite JP Morgan manipulates them.
@KhmerD0g, true, corporations do use lobbyists too much, but in many cases this is the only way for them to survive. When the US Government is a multi trillion dollar bureaucracy, throwing handouts and special favours everywhere - corporations who do not play the game are doomed to fall behind.
Just like Lehman brothers, who was not as well connected as AIG GS JPMC.
The root of the problem is BIG GOVERNMENT, all the rest are inevitable consequences of this.
i agreed that big government is the biggest problem in any country. but of course the politicians always want more power. they enjoy controlling people lives to make them feel important. they like cameras follow them and red carpet on their feet. i really hate big government. they are arrogance. they think they know all but in fact they don't. they mess up even more when they involve.
If you were in their position what would you do? There are so many problems now and so many corrupt that there really is no one solution. We just need a reset.
"We need a revolution every 200 years, because all governments become stale and corrupt after 200 years." -Benjamin Franklin
I didn't say Wall Street run up the debt. The government borrows and spends on behalf of its population. The government bailed out private companies like AIG, JP Morgen, etc. The government transfers private company debts to public. The tax payers will be hooked for paying off private company debts. I ran a video shop and lost a lot of money. The government didn't bail me out. I took the lost and closed it down. Luckily I owed only a few thousand dollars which I paid off years later
I don't agree with everything he says, but when every other alleged 'journalist' slants everything they write only one way I applaud his attempt at balance.
I think Stossel used the wrong word. I don't think the oil companies are hero's. To me a hero is someone that performs selfless acts of kindness and expects nothing in return. But the oil companies are definitely patriots that ALL business people should model their business ethics around. The bottled water companies are the con-artists. Imagine if everyone ran business like the oil industry; everyone would be rich and everything would be cheap.
god bless the oil companies, but not for the reasons of the "immense expense" to the companies to bring its favorite customer our oil. and fuck goldman sachs
Actually it makes a huge difference who pumps the oil. Private parties are interested in maximizing efficiency and minimizing costs. That doesn't apply to governments that just send the bill to the taxpayer and frankly are incompetent at economic enterprises.
I guess I was referring to the landowners. Naturally the owner would like to hire the most effective people to pump it.
But to hear arguments like .. "they are hoarding the oil" ... "american oil companies are robbing country x of their riches" etc etc, just don't make much sense to me.
I know this might at some level be a simplification because the ownership of an oil rich land is often a political or even a military matter. But the price is still decided by the markets.
@Loomr You're right that the ownership is often a political or military matter, but that is due to the land being owned by the government or restrictions placed on ownership of it per law. Still regarding "hoarding the oil" or "robbing country X", hello, they need to SELL THE OIL to make profits and stay in business.
Look it basically doesn't make that much difference who controls the oil as long as it's sold to everyone. I mean it's the same thing with every raw resource there is, someone always controls them .. the price will always be decided by the supply and demand (and gov taxes, which in my country is pretty huge for gas).
I mean how the hell are you going to stop them asking more per barrel? Competition is the only true answer to that. They can choose their customers, we can't choose the price.
Oil companies are heroes LOL. Wow- kiss sheiks butts . Can't produce enough oil and then charges for toxic bi product that could not give away at one time. Now costing us more than 800,000 million more that will not be spent in USA or create one job in the USA . If the oil companies get their way the USA will become a third world country and we can thank the zeroes. Ethanol is the answer!
I would love nothing more than to watch the big 3 scum bags beaten to death and tortured but kept alive just long enough to watch me take a shit all over their faces while I masterbate to there screams of agony.
All those innovations come from the science that you and your blow buddy Stossel think need your dumb shit advice on. Yeah, let them know all you know about science-that will take a good 20 seconds. Learn how science works, they don't give a rats ass what you "think", the peer review process works very well w/o you and Stossel. So stop being a dumb-fuck redneck.
The scientific process does not account for motivation. The free market provides it.
And if I told you all I know about science and logic I'd probably make your head explode. We can compare knowledge and/or intelligence any time you want.
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EGarrett,
You're not qualified to peer review the scientific process, that is illogical. Try to stick to the point of corrupt markets.
The oil companies pay for the "science" whores to get the conclusions you seem all to willing to accept, all in the name of free markets. Not me, I know when I'm being sold down the river, at least don't help their cause.
The oil companies are heroes???? Yep, AIG, Bear Sterns, Citibank, all heroes, right?
If our collective search for knowlegde usurps the inquiry of science because we don't like its conclusions, mostly because it can be purchased, and the data can skewed through sensational pieces like this, yeah I consider that CORRUPT in a most egregious manner. You, however, can use the word bad if you like.
Oil companies are heros? John, you should consider FOX news, they too have no journalistic integrity. Exxon made 40 billion in the 1st quarter last year. Did you get a cut of that?
Your science is truly at a 3rd grade level. Your contribution to this country's epidemic illiteracy in science has to be the 1st qualification for FOX employment.
Take a look at what you missed. Do you think we should elevate their status to "hero" level? Do you think that they wouldn't use this capital to secure their existence, without concern for the people and environment in which they have gained so much? If your logic is that naive, run with it. But it is your lack of logic that jumped to the conclusion of "BAD". That was not my conclusion, it was yours.
You need to watch more Stossel. He might explain to you how the free market, which has given you all the innovations that let you sit on your ass and talk crap about big companies, works.
Under a functioning capitalist system, with the government doing what it's supposed to do, a company can only make big amounts of money by providing a valuable service to society. I'm not here to teach you this though, learn it yourself. Stop being a liberal cliche.
Is this the same free market system that allowed banks to leverage their loans forty to one? The same one that calls you a dead beat if you default on your martgage, while defaulting on half a million loans gets you bailed out by the government? You mean that "free" market? Ha, thanks for the lesson, but I think it's you that needs a lesson on a free market.
If you think all that was caused by a free market then your a dumb redneck, in fact if you believe a government regulated economy is a "free market" then you really are a dumb redneck.
Leveraging 40-1 is not an example of a corrupt free market? PLease tell me what is! This country is not a pure capitalist society, and that IS a good thing. I'm for more freedom not less, but let's not be niave, a con job by any other name is still a con job.
That's not the free market which bailed out the banks, that was corporate socialism. If we had a free market those corrupt bastards would have gone out of business. Same goes true for GM. How can we expect big government to protect us from big business when the two are symbiotic? What alternative system do you propose to the free market, in which people choose what they want to buy and where they want to work? Socialism has been tried and it has failed miserably
So do we go back to the horse and buggy, dirt roads, no schools, no sewage sys., etc. I know the difference between them, but we have business and governance, and we need them both. Is the failure of socialism or capitalism relevant? We own them both, so who is the watch dog on corruption-you and me. I am not willing to give either a free pass. As far as science goes, we don't need redneck advice on what Cletus and Bubba think, let the peer-review process work!
Schools, roads, sewage- those are things that state and local government are supposed to deal with. I'm talking about the federal government. A 10-15% flat tax could easily cover all necessities. The rest of the money would either be freed up for states or individuals to more efficiently allocate their money
I don't have an issue with a flat tax. My point was with your "socialism' charge. That is what government is designed to do. Science,open inquiry and the corruption of this process is the point of this discussion. Greed has its own boss, and I am not about to give it a free pass!
When I was in Vegas last week, I was very thirsty and bought a 20oz bottle of water for $3.00! A GALLON of gasoline to get home was $2.89. Why don't the feds investigate the price gouging on that?
Keep in mind that you are not adding the cost of a huge military defense to keep the oil industry going. The oil industry has had huge tax write offs since the 30's and 40's. the oil industry gave us huge tax subsidized warmongers like Lyndon Johnson and his Haliburton war mongering friends. Now KBR, Blackwater, who have ties to oil, Bushes Cheny. Oil industry and its investors have kept the U.S. Auto industry from being inneficient & now that they can not compete & want bailouts.
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Oil companies are heroes?! Stossel probably sleeps with a copy of Atlas Shrugged under his pillow.
He even did a propaganda video "Greed" with Objectivist David Kelly, except he never said that Kelly was an Objectivist, instead calling him a philosopher. These guys are worse than Scientologists.
I totally agree with you. I'm fed up with society, and I will take comfort in knowing people like you, I, and others like us would prefer living in the stone age. It is good to have you on our side.
A moot point. There are more millionaires bashing oil companies than supporting them. There is no causation there.
I'm glad he said that. People who don't understand how the economy works are indiscriminately bashing oil companies for making profits (as if that's a bad thing) while unreasonable taxes are the real enemies, gouging our economy and the companies responsible for actually drilling the oil.
John Stossel takes libertarianism to an absurd level.Corporations, what ever they be, are not heroes nor villians they are just businesses.Really some libertarianism worship the free market like a God.
"Worship the free market like a God" = "Recognize that a society without unlawful coercion is not only moral, but practical". Please read Atlas Shrugged.
Meh I don't need to read Atlas Shrugged to understand that corporation are just machines to make monery and nothing more.This valorizing of institutions, and have no doubt corporations are institutions is the first step toward slavery.Besides objectivism is pop philosophy not worth my time.
Of course they're machines to make money -- that's how they're able to create jobs, make innovative products, raise our standard of living and thus the length of our lives, and compete so that prices are kept low.
Businessmen are carrying the world on their shoulders, and all they get for it is hatred and scorn from people like you.
Unfortunately there's very many people who refuse to learn economics, and refuse to read Atlas Shrugged, because it would challenge their world view.
I disagree it is not corporations which have raised our standard of living but science and knowledge.Only after science has pave the way latter do coroporations jump on the bandwagon to turn a profit.I have no scorn for corporation I just realize that they are not worth of praise either.You are a child.
Business and science are corollaries; one is not possible without the other. The former produce the wealth which is invested into the latter; the progress of science is directly related to the productive achievements of the businessmen, whom you owe your standard of life. The state does, of course, not have the magical power to create wealth out of nothing -- it's fully dependent upon expropriating wealth from private businessmen, to fund state science institutes.
First we are not talking about business in general but specifically corporations.The true engine of innovation and wealth in any free market is not the bureaucratic goliaths called corporations but small private businesses.Second science has existed for centuries in the absence of free markets and it has been improving society ever since without the aid of corporations.Your reply has no base in reality.
I never knew corporations were all huge, and some that are can sometimes have innovations. INTC did something before, and does something now. Just because they don't give the credit to one individual does not mean there is no innovation.
Sometimes innovation needs more funding than is available small businesses.
Consider that a free lesson -- this discussion is over. Your stubborn refusal to read economics because it might threaten your world view, makes your arguments irrelevant in any serious debate. Perhaps that is why you're substituting rational arguments for immature namecalling.
That is fine the objectivist is never ready to defend his position he can only cling to the words of Rand like a religious fanatic clings to his dogma.When you grow up and realize that big government and corporations are sides ofthe same coin then we can talk.True capitalism takes place on a microscale between individuals.
The government and corporations are two sides of the same coin in a mixed economy. I'm not advocating a mixed economy however, nor am I an Objectivist. Making baseless accusation is no way to make people take you seriously -- it only makes your arguments lose further credibility.
You bring up A.S as if it were a text book on economics and then I accuse me of making baseless accusations?It's it logical to conclude that you are an Objectivist if you are championing A.S? By worshiping corporations what you are advocating is nothing less than oligopoly.
If you're interested in great textbooks on economy, I recommend "Economics in One Lesson" by Henry Hazlitt and "Human Action" by Ludwig von Mises.
By your logic, Rush Limbaugh, Glenn Beck, Ron Paul, John Stossel, and houndreds of other conservative and libertarian politicians and intellectuals are Objectivists -- not to mention the whole Ron Paul movement, and economics professors all across the country.
I'm a libertarian myself but I am warry of corporations as I realize that what makes the free market great is competition and variety. I see you did not mention anything by Milton Friedman any reason for that?
I'm an admirer of Milton Friedman as well, and certainly recommend his book "Free to Choose". He's in favor of more regulation than the Austrian economists which most of the libertarians support however -- I know there's numerous disagreements between them, but can't really comment in detail. Friedman tends to argue from a purely utilitarian and pragmatic perspective, while most libertarians take a more moral stance regarding the rights of the individual and the "non-aggression principle".
I haven't read that book but did read "Capitalism and Freedom" by Friedman. Arguably one of the best defenses of capitalsim I have seen. Yes it is true Friedman is/was more pragmatic than the Austrian school which lead some to accuse him of statism, complete rubbish in my view.There is also his connection with the Pinochete regime which is distrubing.
Yes, I think you'll find that the people who accuse Friedman of statism are the loony "anarcho-capitalists" right-wing hippies. Rubbish indeed.
In any case, I wouldn't dismiss Atlas Shrugged just because you don't like the orthodox Objectivist mentality -- I don't either, yet AS turned out to be a very enlightening book. The libertarians of the Cato Institute do, understandably, refer to new staff members who haven't read AS as "free market virgins".
He didn't help overthrow the government in Chile though like many people claim or mislead others into believing. The US government was gonna do it anyways even if he'd never been born .We kinda have a history of overthrowing the governments of other nations. Friedman also stated he wasn't in support of the dictatorship and said that in order for their free market to work and sustain itself that it would eventually also need political freedom and eventually , Chile became a democracy
Trust me, recommending Atlas Shrugged and defending corporations aren't the only criterias for being an Objectivist.
I'm not going to get into a monopoly/oligopoly with you, but if you're interested in learning why there is nothing wrong with either of them in a free economy, read some of the litterature I've recommended. "Economics in one lesson" is very short, and avaliable on the web.
Science and knowledge would have little funding if not for the corporations, so you have to give the corporations credit for speeding discoveries. Corporations are more effiecient at allocating capital. I don't know what your definition of a corporation, but it is probably in excess of 100B market cap.
Science and knowledge have been advancing long before coroportations existed. Science found funding from the state and private donors so if corporations seized to exist science will still advance. Will it be as qucikly as if corporate donors where still giving money well no.However if the state cease to give money science would also advance slower. So if I am going to give credit to corporations for speeding discoveries I must also credit the state.
Then I guess you would probably also say that science and knowledge advanced at the expense of the standard of living because sometimes people starve even if there is enough food to go around. But even if they die, they help the poverty problem by having less mouths to feed.
What? How did science and knowledge advance at the expense of feeding people? Did not advances in agricultural science help improve the standard of living? Moreover didn't most of these advances come before the existance of corporations? Your analogy is off.
Maybe North Koreans could argue with you, and the standard of living decreases sometimes like in Zimbabwe, but I'm sure we could improve their standard of living if we dumped 100 tons of garbage on their land.
O.K now I get it. Well that is a very extreme example but it still does not harm my argument. The people of N.Korea starve not because the gov is spending money on advanced technology but because the gov is totalitarian and hords all the food for itself. Some how N.Korean troops and gov officials seem to lead health lives amist the starving.The N.Korean standard of living could be different even without the private sector if the state was not so brutal.
O.K if the North Koreans are starving because they are being sanctioned, why is the military not starving? The truth is the N.Koreans receive humanitarian aid and the government takes all of this for the military and officials.The ordinary people are left to eat trees and rats while soldiers and bureaucrats eat rice and meat. On top of this the land in N.Korea is yields little food,increasing famine.
That's the beauty of it. Because the more it looks like the ordinary people starve, the more humanitarian aid will go there, and if I were one of the officials, I would want other currencies so I can buy my mercedes, and I would make sure that food goes somewhere else like china or vietnam.
This comment has received too many negative votesshow
john stossel is such a fucking weasel hey asshole just because you can afford to go to the pump not everyone can. these are the pricks will doom mankind...
How can you blame oil companies? All you communists need to shut the hell up about greed, it's what drives the US economy. Oil companies are no more greedy than any of us or any other business owners. Blame your government.
Hahaha! Greed just drove the US economy into the ground and now all the high-rolling greed-is-good Wall Street fucks are crawling on bent hands & knees begging like welfare mothers for a Federal bailout. Where is that "lift yourself up by your bootstraps" spirit now?
News flash retards. The oil companies aren't to blame. The government is. The oil companies make something like 8 cents per gallon. State governments taxes like 8-31 depending on your state! And the fed taxes 18.4 Its all true, look it up. And the government is the one who is holding back the oil companies from exploring and drilling for more oil. More oil = cheaper gas. Blame the government, not the gas companies. Go to the DMV, is that how you want things run?
This comment has received too many negative votesshow
ooh please exxon and chevron have been enforcing policy for years.. the iraq war eletric car and global warming so please with the bullshit they are satan on earth...
After hearing that punk talk out of his whored-out,corporate ass. I turned to that wrestler video, slapping his bitch ass to the ground ...TWICE!! Stossel you got owned!!! I recommend immediately after hearing that oil co. heroes comment.....look up... "Stossel and Jerry the King Lawler" Ahhhhh...life is good!
why cause he disagrees with you? you know its REALLY the environmentalists fault that we have the energy crisis we do. France has nearly 3/4 their energy through nuclear power, yet we haven't built a plant in like 30 years. We have the technology to convert COAL to GASOLINE! But the eco-terrorists wouldn't allow that either!
Blame and shame tactics will not fix this problem. Misrepresenting a complex situation by alleging that one group is responsible for the energy crisis reveals both a serious lack of understanding and a puerile need to point fingers. We ALL share responsibility for our nation's hedonistic, gluttonous consumption of fossil fuels. Now, we must all share responsibility for finding viable solutions to this dilemma. Can you get past your fear and resentment to explore solutions?
Everyone just wants someone to blame but it's really not the companies that make oil expensive...Stossel is calling them heroes to make a few waves.
If anything they make oil cheaper for everyone
AtibbsSPARTAN 3 months ago
Exxon/Mobil is 80% owned by foreign investors. They are noi an American Company. Bush used 9/11 like a whore, instead searching for the culprit who planned it (Osama), he invaded Iraq so Exxon could access mass oil fields, which Saddam refused to do business with. Over 1,000,000 Iraqis were killed for trying to resist the invasion, which any patriot would do if their country was under attack. All for Exxon, so oil companies=heroes,no they bought a president and launched a human massacre for oil
fafafohigh69 8 months ago
can some one please tell me why Alaska had the highest gas prices. I thought oil was one of the state's major source of income.
CorpsmanUP87 8 months ago
do they have any places to refine the oil?
hint0122 7 months ago
@hint0122 good answer.
CorpsmanUP87 7 months ago
fuck you John Stossel
heatherlynn135 8 months ago
most gas stations will make about 5 cents of profit per a gallon of gas
wobinga7 10 months ago
bull shit. stossel concerns more about profit and greed. incentive and greed motive do make a better life to some but at the expense of others. Bush's war in iraq is mostly oil. human live is less than oil. one of the executives for an oil company left with half a billion dollars when he retire. that is some compensation. #LOL
KhmerD0g 10 months ago
@KhmerD0g - you're too stupid and indoctrinated to know what profit means. People like you are so beyond stupid you think that wealth creates poverty. Fuck off to Cuba and you can live in a society without profit and see what real greed looks and feels like you stupid fuck.
thomaserossi 10 months ago
@thomaserossi
bullshit to u. i piss on u. the greed of Wall Street is killing america. the big banks are getting huge bonuses while the rest of america gets the bill. just look at AIG, Goldman Sachs, JP Morgan, etc.
i hope u and your children spend eternity to pay off the 14 trillion dollars of debt.
KhmerD0g 10 months ago
@KhmerD0g, your criticism of Wall St is correct but misses the main culprit in this story.
This clip called "Overdose - the next financial crisis" explains the root of the current problem and is coming next (which is much worse) /watch?v=m6FNYvC4uyM
LibertyDownUnder 9 months ago
@LibertyDownUnder
John Stossel is correct about capitalism. he defends the oil companies in this video is admirable but only if the oil companies compete openly and fairly. unfortunately they do not. they lobby the government to pass laws to benefit them like subsidy. that's not capitalism anymore. #OMG
the US dollar is toast. the BRICS just signed agreement to trade with each other credits and due away with the dollar. gold and silver are going up despite JP Morgan manipulates them.
KhmerD0g 9 months ago
@KhmerD0g, true, corporations do use lobbyists too much, but in many cases this is the only way for them to survive. When the US Government is a multi trillion dollar bureaucracy, throwing handouts and special favours everywhere - corporations who do not play the game are doomed to fall behind.
Just like Lehman brothers, who was not as well connected as AIG GS JPMC.
The root of the problem is BIG GOVERNMENT, all the rest are inevitable consequences of this.
LibertyDownUnder 9 months ago
@LibertyDownUnder
i agreed that big government is the biggest problem in any country. but of course the politicians always want more power. they enjoy controlling people lives to make them feel important. they like cameras follow them and red carpet on their feet. i really hate big government. they are arrogance. they think they know all but in fact they don't. they mess up even more when they involve.
KhmerD0g 9 months ago
@KhmerD0g
If you were in their position what would you do? There are so many problems now and so many corrupt that there really is no one solution. We just need a reset.
"We need a revolution every 200 years, because all governments become stale and corrupt after 200 years." -Benjamin Franklin
TransAmFormulaV8 8 months ago
@KhmerD0g Wall street didn't run up the debt-the government did.
jme6141994 8 months ago
@jme6141994
I didn't say Wall Street run up the debt. The government borrows and spends on behalf of its population. The government bailed out private companies like AIG, JP Morgen, etc. The government transfers private company debts to public. The tax payers will be hooked for paying off private company debts. I ran a video shop and lost a lot of money. The government didn't bail me out. I took the lost and closed it down. Luckily I owed only a few thousand dollars which I paid off years later
KhmerD0g 8 months ago
I don't agree with everything he says, but when every other alleged 'journalist' slants everything they write only one way I applaud his attempt at balance.
AshtonPhoto 1 year ago
heroes? wow if john stossel were to suck dick any harder, he'd be shittin' BP's pubes.
rustyoneone 1 year ago
I think Stossel used the wrong word. I don't think the oil companies are hero's. To me a hero is someone that performs selfless acts of kindness and expects nothing in return. But the oil companies are definitely patriots that ALL business people should model their business ethics around. The bottled water companies are the con-artists. Imagine if everyone ran business like the oil industry; everyone would be rich and everything would be cheap.
karozans 1 year ago
Go Stossel!
MrYJ99 1 year ago
The Oil companies are trying their best to stop free energy ideas from spreading to common ppl.
We need to put an end to this corruption ,start generating your own electricity.
Look for the LT MAGNET MOTOR in youtube video search. Join the Revolution!!
cadentavaricegrtrj 1 year ago
@cadentavaricegrtrj "Free Energy"??? I am afraid that's an oxymoron.
karozans 1 year ago
@karozans exaclty solar power is great and all but who makes them? people do at a cost
ORACLE063 1 year ago
Leave it to Stossel to put it all in perspective. That was serious by the way, not sarcastic.
sniper6081 1 year ago
john stossel what a benedict arnold
4149stonepony 1 year ago
god bless the oil companies, but not for the reasons of the "immense expense" to the companies to bring its favorite customer our oil. and fuck goldman sachs
kroovyandcal 1 year ago
Stossel is a freaking idiot. He says this stuff just to get attention and so the idiots who are not on tv will buy his books.
juarezrt 1 year ago
John is beast1
dirtyperry44 1 year ago 2
Actually it makes a huge difference who pumps the oil. Private parties are interested in maximizing efficiency and minimizing costs. That doesn't apply to governments that just send the bill to the taxpayer and frankly are incompetent at economic enterprises.
Aegius 1 year ago
@Aegius
I guess I was referring to the landowners. Naturally the owner would like to hire the most effective people to pump it.
But to hear arguments like .. "they are hoarding the oil" ... "american oil companies are robbing country x of their riches" etc etc, just don't make much sense to me.
I know this might at some level be a simplification because the ownership of an oil rich land is often a political or even a military matter. But the price is still decided by the markets.
Loomr 1 year ago
@Loomr You're right that the ownership is often a political or military matter, but that is due to the land being owned by the government or restrictions placed on ownership of it per law. Still regarding "hoarding the oil" or "robbing country X", hello, they need to SELL THE OIL to make profits and stay in business.
Aegius 1 year ago
Look it basically doesn't make that much difference who controls the oil as long as it's sold to everyone. I mean it's the same thing with every raw resource there is, someone always controls them .. the price will always be decided by the supply and demand (and gov taxes, which in my country is pretty huge for gas).
I mean how the hell are you going to stop them asking more per barrel? Competition is the only true answer to that. They can choose their customers, we can't choose the price.
Loomr 1 year ago
Oil companies are heroes LOL. Wow- kiss sheiks butts . Can't produce enough oil and then charges for toxic bi product that could not give away at one time. Now costing us more than 800,000 million more that will not be spent in USA or create one job in the USA . If the oil companies get their way the USA will become a third world country and we can thank the zeroes. Ethanol is the answer!
youngsinfo 1 year ago
Lol.
vPEACHESv 2 years ago
I would love nothing more than to watch the big 3 scum bags beaten to death and tortured but kept alive just long enough to watch me take a shit all over their faces while I masterbate to there screams of agony.
StewartLucrative 2 years ago
All those innovations come from the science that you and your blow buddy Stossel think need your dumb shit advice on. Yeah, let them know all you know about science-that will take a good 20 seconds. Learn how science works, they don't give a rats ass what you "think", the peer review process works very well w/o you and Stossel. So stop being a dumb-fuck redneck.
dwolfcoach 2 years ago
The scientific process does not account for motivation. The free market provides it.
And if I told you all I know about science and logic I'd probably make your head explode. We can compare knowledge and/or intelligence any time you want.
EGarrett01 2 years ago 2
This comment has received too many negative votes show
EGarrett,
You're not qualified to peer review the scientific process, that is illogical. Try to stick to the point of corrupt markets.
The oil companies pay for the "science" whores to get the conclusions you seem all to willing to accept, all in the name of free markets. Not me, I know when I'm being sold down the river, at least don't help their cause.
The oil companies are heroes???? Yep, AIG, Bear Sterns, Citibank, all heroes, right?
dwolfcoach 2 years ago
No, those companies lost money. The oil companies make money, which means they're creating value.
PorpoiseMuffins 2 years ago 2
Do you understand the point here? Their money affords them the luxury to buy the opinions that fit the bottom line. It's nothing new, just CORRUPT!
dwolfcoach 2 years ago
Then why is gas so cheap?
PorpoiseMuffins 2 years ago 2
Nope, you don't understand the point!!
dwolfcoach 2 years ago
If our collective search for knowlegde usurps the inquiry of science because we don't like its conclusions, mostly because it can be purchased, and the data can skewed through sensational pieces like this, yeah I consider that CORRUPT in a most egregious manner. You, however, can use the word bad if you like.
dwolfcoach 2 years ago
Oil companies are heros? John, you should consider FOX news, they too have no journalistic integrity. Exxon made 40 billion in the 1st quarter last year. Did you get a cut of that?
Your science is truly at a 3rd grade level. Your contribution to this country's epidemic illiteracy in science has to be the 1st qualification for FOX employment.
dwolfcoach 2 years ago
So because a company makes a lot of money, they MUST automatically be bad?
Please take a long look at your own logic, or lack thereof.
EGarrett01 2 years ago 2
Take a look at what you missed. Do you think we should elevate their status to "hero" level? Do you think that they wouldn't use this capital to secure their existence, without concern for the people and environment in which they have gained so much? If your logic is that naive, run with it. But it is your lack of logic that jumped to the conclusion of "BAD". That was not my conclusion, it was yours.
dwolfcoach 2 years ago
You need to watch more Stossel. He might explain to you how the free market, which has given you all the innovations that let you sit on your ass and talk crap about big companies, works.
Under a functioning capitalist system, with the government doing what it's supposed to do, a company can only make big amounts of money by providing a valuable service to society. I'm not here to teach you this though, learn it yourself. Stop being a liberal cliche.
EGarrett01 2 years ago
Is this the same free market system that allowed banks to leverage their loans forty to one? The same one that calls you a dead beat if you default on your martgage, while defaulting on half a million loans gets you bailed out by the government? You mean that "free" market? Ha, thanks for the lesson, but I think it's you that needs a lesson on a free market.
dwolfcoach 2 years ago
If you think all that was caused by a free market then your a dumb redneck, in fact if you believe a government regulated economy is a "free market" then you really are a dumb redneck.
funktroop3r 2 years ago 3
Leveraging 40-1 is not an example of a corrupt free market? PLease tell me what is! This country is not a pure capitalist society, and that IS a good thing. I'm for more freedom not less, but let's not be niave, a con job by any other name is still a con job.
dwolfcoach 2 years ago
People giving away half of their income to pay for inefficient, unnecessary bureaucracies and unnecessary wars, is that a good thing?
BikiniBabe1985 2 years ago 16
That's not the free market which bailed out the banks, that was corporate socialism. If we had a free market those corrupt bastards would have gone out of business. Same goes true for GM. How can we expect big government to protect us from big business when the two are symbiotic? What alternative system do you propose to the free market, in which people choose what they want to buy and where they want to work? Socialism has been tried and it has failed miserably
BikiniBabe1985 2 years ago 9
So do we go back to the horse and buggy, dirt roads, no schools, no sewage sys., etc. I know the difference between them, but we have business and governance, and we need them both. Is the failure of socialism or capitalism relevant? We own them both, so who is the watch dog on corruption-you and me. I am not willing to give either a free pass. As far as science goes, we don't need redneck advice on what Cletus and Bubba think, let the peer-review process work!
dwolfcoach 2 years ago
Schools, roads, sewage- those are things that state and local government are supposed to deal with. I'm talking about the federal government. A 10-15% flat tax could easily cover all necessities. The rest of the money would either be freed up for states or individuals to more efficiently allocate their money
BikiniBabe1985 2 years ago
I don't have an issue with a flat tax. My point was with your "socialism' charge. That is what government is designed to do. Science,open inquiry and the corruption of this process is the point of this discussion. Greed has its own boss, and I am not about to give it a free pass!
dwolfcoach 2 years ago
High cost is a blessing for enviromentalists. They should praise the oil companies and thank economics that people will embrace alternative fuels.
timetraveler3797 2 years ago
I wouldn't call these guys heroes......
TheManInTheMasks 2 years ago
When I was in Vegas last week, I was very thirsty and bought a 20oz bottle of water for $3.00! A GALLON of gasoline to get home was $2.89. Why don't the feds investigate the price gouging on that?
quirose 2 years ago 2
Stossel rocks!
btw the guy with the glasses is the CEO of Chevron I think
kaziqbal 2 years ago
keep in mind Americans pay really low prices on the barrels we import compared to other nations.
openyourmind678 2 years ago
Keep in mind that you are not adding the cost of a huge military defense to keep the oil industry going. The oil industry has had huge tax write offs since the 30's and 40's. the oil industry gave us huge tax subsidized warmongers like Lyndon Johnson and his Haliburton war mongering friends. Now KBR, Blackwater, who have ties to oil, Bushes Cheny. Oil industry and its investors have kept the U.S. Auto industry from being inneficient & now that they can not compete & want bailouts.
joeo78501 2 years ago
you should thank them too, unless you want to try to go drill oil
collapseofthedollar 2 years ago
cool vid , hes a goer , smart and positive
throwerofturds 2 years ago
This comment has received too many negative votes show
Oil companies are heroes?! Stossel probably sleeps with a copy of Atlas Shrugged under his pillow.
He even did a propaganda video "Greed" with Objectivist David Kelly, except he never said that Kelly was an Objectivist, instead calling him a philosopher. These guys are worse than Scientologists.
Google "Greed is Bad Reporting."
JasonQLD 2 years ago
I totally agree with you. I'm fed up with society, and I will take comfort in knowing people like you, I, and others like us would prefer living in the stone age. It is good to have you on our side.
panther9mm 2 years ago
Stossel has a magnificent moustache of liberty.
JMartins1981 2 years ago
Have this asshole live in our shoes, without the millions in the banks, and see how he would manage!
latinpride18 3 years ago
A moot point. There are more millionaires bashing oil companies than supporting them. There is no causation there.
I'm glad he said that. People who don't understand how the economy works are indiscriminately bashing oil companies for making profits (as if that's a bad thing) while unreasonable taxes are the real enemies, gouging our economy and the companies responsible for actually drilling the oil.
SeventhHanyou 3 years ago 2
John Stossel takes libertarianism to an absurd level.Corporations, what ever they be, are not heroes nor villians they are just businesses.Really some libertarianism worship the free market like a God.
Plato86 3 years ago
rolf I know right...
wolfborn10 2 years ago
"Worship the free market like a God" = "Recognize that a society without unlawful coercion is not only moral, but practical". Please read Atlas Shrugged.
JMartins1981 2 years ago
Meh I don't need to read Atlas Shrugged to understand that corporation are just machines to make monery and nothing more.This valorizing of institutions, and have no doubt corporations are institutions is the first step toward slavery.Besides objectivism is pop philosophy not worth my time.
Plato86 2 years ago
Of course they're machines to make money -- that's how they're able to create jobs, make innovative products, raise our standard of living and thus the length of our lives, and compete so that prices are kept low.
Businessmen are carrying the world on their shoulders, and all they get for it is hatred and scorn from people like you.
Unfortunately there's very many people who refuse to learn economics, and refuse to read Atlas Shrugged, because it would challenge their world view.
JMartins1981 2 years ago 2
I disagree it is not corporations which have raised our standard of living but science and knowledge.Only after science has pave the way latter do coroporations jump on the bandwagon to turn a profit.I have no scorn for corporation I just realize that they are not worth of praise either.You are a child.
Plato86 2 years ago
Business and science are corollaries; one is not possible without the other. The former produce the wealth which is invested into the latter; the progress of science is directly related to the productive achievements of the businessmen, whom you owe your standard of life. The state does, of course, not have the magical power to create wealth out of nothing -- it's fully dependent upon expropriating wealth from private businessmen, to fund state science institutes.
JMartins1981 2 years ago 2
First we are not talking about business in general but specifically corporations.The true engine of innovation and wealth in any free market is not the bureaucratic goliaths called corporations but small private businesses.Second science has existed for centuries in the absence of free markets and it has been improving society ever since without the aid of corporations.Your reply has no base in reality.
Plato86 2 years ago
I never knew corporations were all huge, and some that are can sometimes have innovations. INTC did something before, and does something now. Just because they don't give the credit to one individual does not mean there is no innovation.
Sometimes innovation needs more funding than is available small businesses.
panther9mm 2 years ago
Consider that a free lesson -- this discussion is over. Your stubborn refusal to read economics because it might threaten your world view, makes your arguments irrelevant in any serious debate. Perhaps that is why you're substituting rational arguments for immature namecalling.
JMartins1981 2 years ago
That is fine the objectivist is never ready to defend his position he can only cling to the words of Rand like a religious fanatic clings to his dogma.When you grow up and realize that big government and corporations are sides ofthe same coin then we can talk.True capitalism takes place on a microscale between individuals.
Plato86 2 years ago
The government and corporations are two sides of the same coin in a mixed economy. I'm not advocating a mixed economy however, nor am I an Objectivist. Making baseless accusation is no way to make people take you seriously -- it only makes your arguments lose further credibility.
JMartins1981 2 years ago 3
You bring up A.S as if it were a text book on economics and then I accuse me of making baseless accusations?It's it logical to conclude that you are an Objectivist if you are championing A.S? By worshiping corporations what you are advocating is nothing less than oligopoly.
Plato86 2 years ago
If you're interested in great textbooks on economy, I recommend "Economics in One Lesson" by Henry Hazlitt and "Human Action" by Ludwig von Mises.
By your logic, Rush Limbaugh, Glenn Beck, Ron Paul, John Stossel, and houndreds of other conservative and libertarian politicians and intellectuals are Objectivists -- not to mention the whole Ron Paul movement, and economics professors all across the country.
JMartins1981 2 years ago 2
I'm a libertarian myself but I am warry of corporations as I realize that what makes the free market great is competition and variety. I see you did not mention anything by Milton Friedman any reason for that?
Plato86 2 years ago
I'm an admirer of Milton Friedman as well, and certainly recommend his book "Free to Choose". He's in favor of more regulation than the Austrian economists which most of the libertarians support however -- I know there's numerous disagreements between them, but can't really comment in detail. Friedman tends to argue from a purely utilitarian and pragmatic perspective, while most libertarians take a more moral stance regarding the rights of the individual and the "non-aggression principle".
JMartins1981 2 years ago
I haven't read that book but did read "Capitalism and Freedom" by Friedman. Arguably one of the best defenses of capitalsim I have seen. Yes it is true Friedman is/was more pragmatic than the Austrian school which lead some to accuse him of statism, complete rubbish in my view.There is also his connection with the Pinochete regime which is distrubing.
Plato86 2 years ago
Yes, I think you'll find that the people who accuse Friedman of statism are the loony "anarcho-capitalists" right-wing hippies. Rubbish indeed.
In any case, I wouldn't dismiss Atlas Shrugged just because you don't like the orthodox Objectivist mentality -- I don't either, yet AS turned out to be a very enlightening book. The libertarians of the Cato Institute do, understandably, refer to new staff members who haven't read AS as "free market virgins".
JMartins1981 2 years ago
He didn't help overthrow the government in Chile though like many people claim or mislead others into believing. The US government was gonna do it anyways even if he'd never been born .We kinda have a history of overthrowing the governments of other nations. Friedman also stated he wasn't in support of the dictatorship and said that in order for their free market to work and sustain itself that it would eventually also need political freedom and eventually , Chile became a democracy
stealthswimmer 2 years ago
Trust me, recommending Atlas Shrugged and defending corporations aren't the only criterias for being an Objectivist.
I'm not going to get into a monopoly/oligopoly with you, but if you're interested in learning why there is nothing wrong with either of them in a free economy, read some of the litterature I've recommended. "Economics in one lesson" is very short, and avaliable on the web.
JMartins1981 2 years ago
@JMartins1981
You spoke a lot with nice fancy words to say little.
TransAmFormulaV8 8 months ago
Science and knowledge would have little funding if not for the corporations, so you have to give the corporations credit for speeding discoveries. Corporations are more effiecient at allocating capital. I don't know what your definition of a corporation, but it is probably in excess of 100B market cap.
panther9mm 2 years ago
Science and knowledge have been advancing long before coroportations existed. Science found funding from the state and private donors so if corporations seized to exist science will still advance. Will it be as qucikly as if corporate donors where still giving money well no.However if the state cease to give money science would also advance slower. So if I am going to give credit to corporations for speeding discoveries I must also credit the state.
Plato86 2 years ago
Then I guess you would probably also say that science and knowledge advanced at the expense of the standard of living because sometimes people starve even if there is enough food to go around. But even if they die, they help the poverty problem by having less mouths to feed.
panther9mm 2 years ago
What? How did science and knowledge advance at the expense of feeding people? Did not advances in agricultural science help improve the standard of living? Moreover didn't most of these advances come before the existance of corporations? Your analogy is off.
Plato86 2 years ago
Maybe North Koreans could argue with you, and the standard of living decreases sometimes like in Zimbabwe, but I'm sure we could improve their standard of living if we dumped 100 tons of garbage on their land.
panther9mm 2 years ago
So improvements in science will sometimes decreasses the standards of living? How? Really what are you saying.
Plato86 2 years ago
North Koreans spend money on advancing technology, but their people starve.
panther9mm 2 years ago
O.K now I get it. Well that is a very extreme example but it still does not harm my argument. The people of N.Korea starve not because the gov is spending money on advanced technology but because the gov is totalitarian and hords all the food for itself. Some how N.Korean troops and gov officials seem to lead health lives amist the starving.The N.Korean standard of living could be different even without the private sector if the state was not so brutal.
Plato86 2 years ago
"Hord the food for themselves" haha, yeah, ten fat dudes eating every national food. That's so
comedic. Thanks ;)
No really, people there starve because they are
being sanctioned by food producing countries.
hansxxxx666 2 years ago
O.K if the North Koreans are starving because they are being sanctioned, why is the military not starving? The truth is the N.Koreans receive humanitarian aid and the government takes all of this for the military and officials.The ordinary people are left to eat trees and rats while soldiers and bureaucrats eat rice and meat. On top of this the land in N.Korea is yields little food,increasing famine.
Plato86 2 years ago
That's the beauty of it. Because the more it looks like the ordinary people starve, the more humanitarian aid will go there, and if I were one of the officials, I would want other currencies so I can buy my mercedes, and I would make sure that food goes somewhere else like china or vietnam.
panther9mm 2 years ago
And they get sanctioned by every country in the UN. And people starve.
hansxxxx666 2 years ago
Comment removed
BloodiCheeseCake 2 years ago
Ya right these oil companies make so much money they could do it alot cheaper look at venezuela 12cents a gallon
thelumberjackjohn 3 years ago
Is that a mustache on his lip,
or shit from sucking on W's bush?
PhuqueU 3 years ago
Oh please. John Stossel disagrees with George Bush on just about everything. He's a Libertarian, not a rEpublican. Get your shit straight.
TimeWarp66 3 years ago 3
Time Warp, they're all in the same puppet show. Disagreeing with each other helps for a convincing act, but it's all the same string master.
PhuqueU 3 years ago
whose this string master YOU know about, yet know one else does?
TimeWarp66 3 years ago 2
It would seem you're the only one who doesn't know little buddy.
Take your eyes off Ginger for a minute and watch "zeitgeist the movie"
on Youtube You're either a dishonest disinfo agent, or you're mentally
challenged, pick one. but you're finished here.
More good Youtube Vids
"The Chip that will Monitor, Control and take your Freedom"
"Mass Media, Education and why you are being kept in the dark"
"Obama's New World Order Speech"
PhuqueU 3 years ago
Phuque...like the strings Obama pulled on all the Obamaniacs?? Those kids of strings?
MsticalPrincess 3 years ago
Yes Princess, like those strings.
PhuqueU 2 years ago
PhuqueU...it's just a figment of your imagination...like all the Obama lies you believe. ;)
MsticalPrincess 3 years ago
I don't think he means they're directly being the consumer's hero is he?
appreciating 3 years ago
John Stossel is VERY right.
thejamabides 3 years ago 16
John Stossel is right.
Beethovens7th 3 years ago 16
This comment has received too many negative votes show
john stossel is such a fucking weasel hey asshole just because you can afford to go to the pump not everyone can. these are the pricks will doom mankind...
ash4432 3 years ago
and is it john stossel's fault that oil costs so much?
benjamaiLL 3 years ago 10
How can you blame oil companies? All you communists need to shut the hell up about greed, it's what drives the US economy. Oil companies are no more greedy than any of us or any other business owners. Blame your government.
tupacisalive53 3 years ago 5
Hahaha! Greed just drove the US economy into the ground and now all the high-rolling greed-is-good Wall Street fucks are crawling on bent hands & knees begging like welfare mothers for a Federal bailout. Where is that "lift yourself up by your bootstraps" spirit now?
FranklyMisterShankly 3 years ago
Actually the government caused this mess, not greed.
dconjar 3 years ago 2
Drill Here...Drill Now...Pay Less!!!!
American Solutions channel...go sign the petition.
Thank you Stossel.
Advocate1234 3 years ago 3
News flash retards. The oil companies aren't to blame. The government is. The oil companies make something like 8 cents per gallon. State governments taxes like 8-31 depending on your state! And the fed taxes 18.4 Its all true, look it up. And the government is the one who is holding back the oil companies from exploring and drilling for more oil. More oil = cheaper gas. Blame the government, not the gas companies. Go to the DMV, is that how you want things run?
girzwald3 3 years ago 5
This comment has received too many negative votes show
ooh please exxon and chevron have been enforcing policy for years.. the iraq war eletric car and global warming so please with the bullshit they are satan on earth...
ash4432 3 years ago
After hearing that punk talk out of his whored-out,corporate ass. I turned to that wrestler video, slapping his bitch ass to the ground ...TWICE!! Stossel you got owned!!! I recommend immediately after hearing that oil co. heroes comment.....look up... "Stossel and Jerry the King Lawler" Ahhhhh...life is good!
tulsaokok 3 years ago
I would love to see you stand up to a 300 pound wrestler on steroids you stupid punk.
inspectorchao2 3 years ago
I am not a little weasel like stossell. I would be happy to kick your punk ass teeth in. You old fuck.
tulsaokok 3 years ago
You're 36. LoL
Chrisnoscrub047 3 years ago
What is funny and pathetic is a moron...like yourself would actually put their real information out there.
So what really is funny is you think I am 36... what a stupid bitch you are
tulsaokok 3 years ago
Whoa, look out. Someone is getting bold behind their computer screen.
Chrisnoscrub047 3 years ago 3
Apparently, Dr. Death destroyed more than Stossel's eardrum...
chervilant 3 years ago
This comment has received too many negative votes show
John Stossel is A JOKE!
stopglobalwarming08 3 years ago
This comment has received too many negative votes show
I heard about this interview. Stossel is a pathetic shill.
mv4455 3 years ago
This comment has received too many negative votes show
Stossel's a dick who needs to be slapped by a wrestler again.
Some one call the Rock.
grazon 3 years ago
This comment has received too many negative votes show
.
Stossel degrades the meaning of HERO...
For goodness sakes. Oilmen have been doing this type of work for DECADES and just NOW THEIR HEROS?
What a shill, Stoshill has become.
Talk about "GIVE ME A BREAK!"
.
maxx1000 3 years ago
WHAT A GREAT POINT.. but i think it also has to do with price manipulation
toyracers 3 years ago
Stossel speaks the truth! Finally someone in the media has their head on straight.
rtr2822 3 years ago
I think John Stossel should lose his job and GTFO of this country!
2rate2 3 years ago
why cause he disagrees with you? you know its REALLY the environmentalists fault that we have the energy crisis we do. France has nearly 3/4 their energy through nuclear power, yet we haven't built a plant in like 30 years. We have the technology to convert COAL to GASOLINE! But the eco-terrorists wouldn't allow that either!
virusbstr 3 years ago 3
Blame and shame tactics will not fix this problem. Misrepresenting a complex situation by alleging that one group is responsible for the energy crisis reveals both a serious lack of understanding and a puerile need to point fingers. We ALL share responsibility for our nation's hedonistic, gluttonous consumption of fossil fuels. Now, we must all share responsibility for finding viable solutions to this dilemma. Can you get past your fear and resentment to explore solutions?
chervilant 3 years ago 2