2006-06-28 07:04:57 · 8 answers · asked by Why_so_serious? 5 in Cars & Transportation ➔ Commuting
God, I feel like it. But, Congress cleared them; I don't mean the first time last year when the Oil Company Executives were not required to swear in, in mean the second time when Congress made them swear in and testify.
With those record profits you must really think that they are skimming the people. The problem is that when the oil supply tightens, and the prices rise, this give the oil companies an excuse to raise the prices. They aren't being evil about it, it's just due to the oil market and they would be stupid to not take the chance. If they didn't raise prices then other nations would try to buy their oil at the lower prices, thus dropping the oil supply, and making it cost more for oil in the US (maddening isn't it).
China needs oil really bad, as their economy is changing from bicycles to cars, and they don't have as much oil supply as we do. Most of our oil comes from our own wells and from Canada (so don't piss off our friends to the north). Then our allies in the Middle East: Saudi Arabia and Kuwait are happy to make up the rest. But, the free market system makes sure that they will charge all the market will bear.
Don't forget the taxes. Between federal and some state taxes one-third to one-half of the price at the pumps goes to pay taxes. Once a tax is in place government doesn't want to remove it. We still have some taxes in place that were supposed to help us pay for WWII.
I hate to sound like I am repeating radical left wingers, but the real solution is to reduce our consumption. As the need for oil drops the price will drop as well. So far it is cheaper to sell oil to the US (from Canada and the US), but if some idiot builds a pipeline that runs under the Bearing Strait than China will suck up al the surplus oil. As reported by 60 Minutes, Canada is sitting on a lot of oil sands. It is hard to extract the oil, but when they find an economical way to do it the oil supply will relax.
In the 1970s we had a similar problem, and many people thought that the Oil Companies were gouging the American market. What really happened was OPEC (the association of oil producers) flexed their muscles and tightened up on the oil market so the Oil Companies had to pass that cost on to the consumer.
2006-06-28 07:30:14 · answer #1 · answered by Dan S 7 · 2⤊ 0⤋
I recently watched a film made in the 60's. There was a segment that mentioned the price of gasoline in a remote area being almost a dollar a gallon, and they were aghast about it. If you extrapolate - a dollar a gallon in the early 60's to $3 a gallon now, and compare it to other goods, it's not so bad. Think about it. In California a three bedroom house (nice one) could be purchased for under $20,000 and now you can't touch ANY house for under $250,000 - a tenfold increase in cost. Or look at the price of a car - $3000 for a very well equipped car, and now $30,000 is more typical. Another 10X increase. Remember when you could get a $.29 burger and a $.10 Coke at McDonalds? Not any more.
Everything has increased in price. Gasoline is just catching up. If you don't like the cost - don't drive.
2006-06-28 07:22:07 · answer #2 · answered by Anonymous · 0⤊ 0⤋
No, that's just political spin the media and liberals like to spread. The price of gas is dictated by the price of oil which is traded on the commodities market.
2006-06-28 07:08:13 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Of course they are. And if you remember that not too long ago Prez. Bush was going to investigate that very thought. But that was quite a while back and he and daddy haven't been raking in quite as much money as they would like from their oil wells. Remember, not too long ago we had a dip in prices, now they are back up. I think Bush will have the answer to his investigation on this topic about the time he steps out of office.
2006-06-28 15:49:16 · answer #4 · answered by yenkoman1969 3 · 0⤊ 0⤋
What about Microsoft, the corporate all started by utilizing invoice Gates the liberal. Their income margin is merely below 30%. Why would not homestead windows promote for much less. value gouging per chance.
2016-10-13 22:17:54 · answer #5 · answered by Anonymous · 0⤊ 0⤋
i truly believe that we a people should .....STAY HOME ON THE 4TH OF JULY!....let those gas gouging money grabbing oil directors eat that for the 4th of July instead of caviar
2006-06-28 07:46:38 · answer #6 · answered by LEONA N 1 · 0⤊ 0⤋
I am unhappy with high oil prices
2006-06-28 07:08:11 · answer #7 · answered by Jake H 3 · 0⤊ 0⤋
YES THEY ARE!!!!!!!!!!
2006-06-28 07:08:26 · answer #8 · answered by tiky t 2 · 0⤊ 0⤋