Who is really to blame for high oil prices? :: mo'Money

[evocative01]

the price of gas in america has barely risen. there has been an inflation that has decreased the value of the dollar drastically. and yea, i learned that from ron paul.

[GasPennyPincher]

There's a lot of people who don't like to hear that taxes make up a huge chunk of the price per gallon of gas.

Until gas prices come back under control, we'll have to make do with less.

[defexorcist]

Yeah, I'm sure the oil companies really hate all these overseas conflicts. I'm sure they hate 'da speculatahs.' They would never use their power and positions of mutual interest in the executive to influence foreign "policy" (if you can call it that without throwing up).

They would also never work in mutual interest with pharmaceutical and chemical companies to influence domestic policy (again, vomitus rises).

[Paolo7219]

The major oil companies all have profit sharing agreements(PSA) with OPEC. They don't have to "conspire" to increase profit; it's built into the system. Oil refineries? Oil companies have NO incentive to build more refineries. Building refineries cost money, that cuts into profit. Also, and just as important: more oil refineries mean more gasoline available. What does this mean? It means oil companies can jack the prices of gas up ANYTIME there is a spike in the price per barrel of oil.

[boaterbil]

JERK!

[chokeonsomestuff]

Obama's energy policy is doing the job. Gas is more affordable now than it was a year ago when Bush was in power. Now if Obama could fix the price of Hulihuli chicken at Foodland -- it's ridiculous. Obama must mandate that hot chicken can cost no more than 5.99.

Hey, if he can dictate to General Motors, he should be able to control the price of a dead chicken. Otherwise, what good is he?

[raypsi]

heavy on the ASSet

[mlndstream]

Lindsey Williams  The Energy Non-Crisis - Pt 1 of 8

[peymaania]

Next time please wear something much more revealing! We want to see your Goods, your Package and all. As for Oil, well get a bicycle for Goodness sake or better yet walk!

[raquelle08]

yeah i don't know all this techinical stuff all i know is gas prices are too high

[darth0ne]

Y'all American is something else, now you blame everybody for high oil price (including your own)?. Who's wanna bigger car, bigger home in the suburb and bigger expensive war. Well is not the Arab, they happy with their Camel,7 wife's and a Tent in the middle of the dessert.

American act like a Parasite or a Virus for the world, you consume all until all resource in the world run dry!!. Stop whining!, you created this situation so shut up !!

[bigboss686]

lol you sir are a hack

[danielopusone]

The economic mess this country is in today is laid at the feet of Barack Obama, Nancy Pelosi, Harry Reid, and the rest of the Don't Drill Democrats.

Air is free because the supply is plentyful; water is inexpensive because supply is plentyful; gasoline is expensive because supply is low and world demand is high.

No force IN THE FRIG'N WORLD could stop demand and development of an alternative energy source if it were affordable and available. Markets work you kool-aid drinking fascists.

[rockondon]

i'll bet you drilling in alaska wouldnt lower

prices wanna bet anyone?theyve got oil hell

bush did 911 for oil we should have alot of

oil hes been keeping his condi/chevron deal

a secret

[247Aztec]

Its The World Bank! Idiot, Shut the Fuck up!

[nododon]

They just don't get it do they?

Oil Currency is only bought with the US dollar and countries have to export goods to us to aquire those dollars to purchase oil. It's a scam deal set up with the Saudi's during the Carter Administration with Kissinger representing the World Bank / IMF. They would forgive all Saudi's debts and help extract their oil if they would 1) only trade in US dollars, and 2) buy back a % of our debt securities. Saddam of course said no so we attacked Iraq. Iran is next.

[247Aztec]

i absolutly agree with you nodon, good job doing your homework, most time people like us get thumbs down and laughed at but we know the truth and posting comments like this awaken people little by little but together we are sttrong!

[Joelomite]

let us thank Jimmy Carter, Bill Clinton and other sissy Democrats (as well as some Reps) who have repeatedly vetoed bills that would allow us to drill in ANWR in environmentally safe ways and give us OUR OWN OIL. Thank Mr. Clinton, who in 1995, vetoed the ANWR bill. Had he not, we'd be up and running in 2005. Thanks for everything, Bill. You too, Mr. Carter. You both sure know how to make a country prosper. LOLOLOL.

[elektrikcity]

The fact is there hasn't been a new oil refinery built in 30 years due to strict environmental laws. There's just not enough capacity to meet all the demand.

[rplende]

A classic example of using fossil fuel products where we should not is in the case of drinking containers. There is a huge abundance of sand on the earth for making glass, that is a far healthier drink container than plastic. Sure we should use the by-products of oil rather than waste them but we should be slashing our use of oil period. Rubber and cellulose products from trees could replace a lot of what we now use plastic for. Hemp is another good source of many products including fuel.

[Lawnmower233]

Yeah pity McCain made it instead.

[Lawnmower233]

Didn't notice these things were from 1 year ago until I saw this. Poor old Ron Paul didn't make it.

[lovenero]

americans have nothing to complain about! in norway we pay almost three times as much per liter on diesel

[randyb327]

Alexander you have no clue what you are talking about I will tell who is to blame is Big Oil companies are greedy raking in record profits that are unheard of lets look back at when BUSH took office oil was 20dollars a barrel it has increased 400 percent since 2001 so you tell me who is to blame I blame BUSH for letting Big Oil get away with high oil prices while we the people have to suffer so keep on voting for a Republican if you want to pay more for everything

[70tee]

in england we are paying $10 a galln. we cant cope any longer.

[jbg42]

I would of subscribed but I can't stand your sound bites.

[FUACLU]

Hey, dumb fuck. How do you explain that during the last two years from today's date, the price has risen 40%. Are you saying that world demand has all of a sudden from out of the blue increased by 40% ?! That's what I call bullshit. Meanwhile, Exxon posted its profits at 40.6 BILLION dollars for 07. Now, I'll give you some credit because the gas increase is also due in part to the speculators/traders who are also banking off this big time.

[Lawnmower233]

Demand's gone up and supply's have gone down. That's why the price of crude oil is high. Geology and the ELM are the only things to blame for the high price. Or rather people who can't grasp basic geology are to blame(everyone seemingly) There have been many people over the years who've been worried about a peak in global crude oil production and sadly no one listened to them. I guess everyone should have. But we were too busy wondering who Clinton got blown by back then to listen I suppose.

[wicktheprick]

lol your funny

[clevername333]

Why not subvert the control these energy cartels have over your life!?! This is not spam, merely someone spreading the word. You can install a very low budget hydrogen fuel cell on your petrol engine and acheive between 40 and 60 percent improvement in MPG! This from a cheap home made system. There are many videos on youtube, and many people selling their kits. Check it out!

watch?v=YFGhZNxdyDY&feature=re­lated

watch?v=C4mz7MPSquU&feature=re­lated

[jewlSecond]

Nope. I'd rather pump the earth dry before lowering myself to that nonsense....hippy.

[clevername333]

I am VERY far from being a hippie.... Your insults are only a sign of your own insecurities.

I have no problem using oil. I am a huge sports car geek. However, it is the system of control that I would like to subvert. "Peak oil" is a scam.

Furthermore, a low budget HHO hybrid is not nonsense, it is basic science. What is wrong with a 40 percent gain in fuel economy?

What kind of car do you drive Jewlsecond?

[jewlSecond]

Ok then...I over reacted.

I drive a minivan.

I think I mixed your comment with a wacko comment and insulted you.

I agree that we should be spending something on the order of the "Manhattan Project" kind of money to do just what you are saying.

AND pump every drop of oil from the ground.

Sorry.

[demliars]

We need to drill for oil NOW! We have it in anwar, The dakota's, off Florida!  The freaking Chinese are drilling for oil in the Florida starights off Cuba. Closer than any oil company has been allowed to drill and those red bastards will be selling us our own oil thanks to Pelosi Reed and the rest of the democrats and a few spineless republicans.

[rockondon]

yo if you wanna start slamming my grammer thats fine is that why your on here to slam my

grammer?i get pissed off man.so i'll just say

ever heard of harken oil?or arbusto oil?uss

liberty attack?halliburton?my point is bush

and his administration have ruinned thee e-con-oh mee nice grammer huh.look up harken oil

and tell me who funded it and who owns it???then we will see who needs to be schooled and

yes mena connection prooves clinton and bushes

dealt coke to supply the iran contra

[demliars]

How has Bush ruined this economy? This economy is "ruined" by high fuel costs brought on by democrats not allowing new drilling or refineries. High food costs due to ethanol mandates passed by Clintons senate with algore casting deciding vote. Real estate crisis was brought about from government pressure to make loans to unqualified people in bad neighborhoods because of their skin color.

[Lawnmower233]

How the hell will "drilling" help? You realise that you don't just put a drill bit in the ground and magically an oil appears? There is very little good oil left to drill. The oil in ANWR would supply the world for a year tops. (if you could get it all out at once.) But it would take 10 years to get production online after which it would peak 10-15 years at pathetic flow rates. (compared to what we need NOW, let alone in the future.) This empty rhetoric about drilling everywhere is ridiculous.

[fuktheus]

Wishing lower prices wont do shyt, next time dont elect a NAZI as president.

we are going to raise your prices triple what you are paying now mfer... $250 a barrel.

Ride bicycles, oil is only for humans and Muslims.

This is revenge for your evil war crimes in Iraq.

Enjoy!

[demliars]

fuk u fukth. We will soon quit treating you animals like humans.

[rockondon]

george bushes grandpa prescott bush funded hitler hell the cia hired nazis to spy on russia

[rplende]

Not everyone is dependent on gold. They deliberately cut production of oil to manipulate prices. This whole world has become greedy beyond belief. A fair days work or production for a fair days pay or fair profit should be the modus operandi of our economy. Not freaking supply and demand bullshit! There is enough resources for everyone on earth to live comfortably and enjoy the benefits of technological advances. Not just a bunch of elitist, new world order scum.

[aegisforex]

Communism doesn't work.

[rplende]

I'm not advocating Communism. However what you are alluding to is Socialism where all share in the wealth. I don't regard myself as a socialist but I do agree that the earths resources should be used for the benefit of all people, not those greedy self serving capitalist supply and demand pricks. In this capitalist system it can only be that some will have and others will not. That is proven by comparing your Wall St. and London financiers and those in the ghettos.

[aegisforex]

The system currently in place is called socialism. If you believe we live in a capitalist system, you are kidding yourself.

In the current system, that "supply and demand bullshit" you speak of isn't in place. That's the problem. You'd be surprised to find that the power elite (the richest .01%) don't believe in capitalism at all. They want a system where the people are heavily reliant on the government in order to survive, thus creating a slave/worker race.

Get rid of The Fed. Problem Solved.

[rplende]

Yes aegisforex, I agree and do undertand exactly what is going on. The elitist are trying to establish their New World Order. This is not Conspiracy Theory, it is Conspiracy Fact and it sound like you are aware of it, which is good. The elite will use anything they can to further their selfish ends whether it is Capitalism, Socialism, Freemasonry even Christianity(whom the neocons in the U.S. have sucked right in) My main point was that everyone should share the worlds resources.

[Lawnmower233]

rplende, your last sentence intrigues me. When you say everyone should "share" the worlds resources do you mean to say that even with a magically fair socialist system of even distribution of resources that there really would be enough left for 7 billion people? What about 9 billion in 30 years? Do you really think "resources" last forever? And don't go on about wind and solar power. You need plastics and composite materials (made from guess what?!?! Finite resources!) to make and maintain them.

[rplende]

Lawnmower233 some resources are renewable. We don not need to be as oil dependent as big business has made us. I'm not saying we should use no oil but reduce our dependence. Geothermal energy and nuclear energy are 2 other sources. But also wave motion energy and tidal is not being used enough. As for providing for our current population that is piss easy and there is enough resources on earth including food and water to feed way over 100 billion.

[Lawnmower233]

I hope you're right. That's all I can say.

[rplende]

Well it's damned strange how Exxon has posted the largest ever corporate profit of any company ever, of $40 billion. That should not have happened if they only raised oil prices to cover increased refinery costs. They are greedy, thieving pricks. Go do some homework before you post bulls... like this!

[demliars]

Not strange, it's a merged company. It has trillions in assets. Clinton allowed these oil companies to merge in part so democrats could demagogue to their ignorant constituents, which includes you.

[rockondon]

uh its over 100 a barrel does this guy know

that before america invaded iraq fake war it

twas 27 a barrel hes a rich man talking

[demliars]

rockondon, the price of oil is the market talking. You should have paid attention in school. Grammer as well as economics. If you had neither, slap a democrat.

[Lawnmower233]

Wow it was $17.26 before the Korean war. Wow the Korean war must be the cause of high oil prices now. Wow.

Wow.

[Metalgear55]

China and only china!

[16sag7]

As long as you continue to think oil this issue will never change. The oil cartels have bought off, destroyed, or have even killed to keep a strong on this world by stopping other inventions. Oil is killing this planet and its inhabitants. If we just work to protect those people with great inventions over time there will be no oil companies to steal from the people of the world and pollute the earth.

[Itchyback]

How about you have a chimpanzee in the office who's administration has made dollar to a peseta. 0.85 US dollars per euro to 1.45 US dollars per euro. And no end in sight on US dollar dive. I wouldn't like to use a high inflating currency as a base of my transactions.

[TYX91101]

Thanks for noting that crude was indeed $12 a barrel in 1998. Most people have forgotten. We've just witnessed a bull market in crude. And it's over.

[Lawnmower233]

Lol economics phraseology. "bull market" What a load of bollox.

The "fundementals", as you economics-types like to call them, justify the current price and will do so for the rest of eternity. It's never going down. I'd bet all my life savings on it if you'd actually care to bet.

[nedarr]

Is it true that OPEC is planning on to charge oil prices in terms of Euros instead of American Dollars? Then Europe is not too far away to enjoy Iranians and Saudi Arabian supplied free gas deal. Not a good news for declining American dollar. I hope it wont destroy American dollar completely from the market and what about the attack on Iran is that even a worst news for weak American Dollar? or do President Bush still needs to rehearse his same old same old speech??

[BlazingSky2006]

I'm for alternative fuel - I'm going to get a horse and buggy.

[bustermk2]

Could be that oil production has been flat for the last two years ... while demand has continued to grow.

[Lawnmower233]

Net Oil exports are down 2 million barrels a day since 2005. It's not just peak oil that's the problem, but also the Export Land Model, which says that a producing country's exports will fall far faster than production since their internal consumption will take up a larger proportion post-peak. The price of oil on our exchanges represents the price of a barrel of EXPORTED oil for us net importers. It's still as cheap as piss for the producers and they'll use up far more of it in the future.

[derjew]

peak oil. Increased demand, production isnt increasing fast enough

[nesnman]

Democrat Mayor Daley wants a nickel-a-gallon increase on gas in Chicago. It's not going over very well to say the least.

[eretzsus]

Don't worry they will find a reason to take over Hugo Chavez's Country to take over his oil reserves .

[jimmdon]

Is it a coincidence these companies have been making huge profits since Bush has been in White House? What will happen in the next administration?

[jimmdon]

Is this guy a shill.  He sounds like he has money in the oil companies. I don't know all the facts but don't oil companies get subsidies and hasn't there been mergers and acquisitions to the point that there is five huge oil companies. And can these five companies be a cartel(monopoly)controlling prices. exxon-mobil, conoco-philips, bp-amoco-arco, shell,chevron-texaco. How much compition was there in the early '90's?

[znarf541]

Gee, you're right, the poor oil companies, they've suffered so much, with their recent RECORD PROFITS, and Exon, which still hasn't paid their judgement to Alaska fishermen (tied up in court), yeah, they have really sacrificed for this nation...

[CitizenPatriot]

you're all delusional see some of my videos or zeitgeist better google euro oil and see why we really want to invade Iran the us dollar is over extended

[PlayerXT]

While he is right about other factors the first, easiest and fastest step to lower gas prices is to stop them from price gouging before solving more complicated things.

[PlayerXT]

Fact: More oil that goes into the US from the Americas than the Middle East.

Fact: Oil companies generally lower refinery production in order to lower supply.

Fact: The modern world requires oil to run which means demand will never go down even if we use alternative energy which will only slow down the growth of the demand for oil.

[Lawnmower233]

Might even cause the rate of demand increase to increase since to tap alternate energy sources machines made from good old fashioned oil-energy-intensive materials are required.

[edwfranklin]

I am astounded to find another intelligent commentator in an area usually dominated by know-nothings.

[michaelterry1962]

Here is a get rich quick scheme for anyone who thinks that the big Oil companies "have us by the balls". Stop taking your 3 ton vehicle with you to the convenience store to purchase bubble gum. With the gas money you save call up your broker and buy Exxon Ticker:XOM. Now YOU will be the guy who has the world by the balls. And since the oil companies ALWAYS raise prices before the heavy driving season- Buy Oil Futures. You will make MILLIONS!

[qazwas2001]

3.The refineries ARE the oil companies, meaning they are vertically integrated.

4.Your suggestion that oil companies were unable to make any money until now is absurd. J.D. Rockefeller (founder of Standard Oil) died in 1937 as the worlds richest man. See my next post.

[qazwas2001]

Hey genius,

1. Beginning 5 years ago Exxon Mobil set the record for highest annual profits in WORLD HISTORY. It is a record they have broken EVERY YEAR SINCE. 2006 profits = 40 billion.

2. In recent years oil companies have been allowed to conglomerate (eg. Exxon is now Exxon Mobil) years ago there were many oil companies, now there is only a few enormous ones. This makes it much easier to control prices.

[UnderseaCaveman]

Holy Cow, the OIL companies keep setting RECORD REVENUES too..... I wonder why? Could it be that OIL DEMAND (hint, sales) keep setting records as well!

End of argument!

[gojujay]

An alternate view about oil companies? Careful, a sensible market view could lead to charges of being an apologist for "Big Oil"