2006-08-03 12:01:16 · 22 answers · asked by Anonymous in Politics & Government ➔ Politics
I'm with you. Some have figured out that Bush is not the highest authority in the world, but answers to higher masters. who are they? Keep researching.
2006-08-03 12:05:36 · answer #1 · answered by Anonymous · 0⤊ 2⤋
I'm with you! Here's the way I explain gas prices:
All the oil pumped out of the ground is sold on the commodities market to the refining companies. Commodities markets work a lot like ebay. When something is in high demand, (like Superbowl tickets) the price goes higher. China has doubled the amount of oil it buys in just the last few years. India is also buying more. Add in fears about the availablity of oil in months to come, and companies try to buy as much as they can in advance to make sure they can continue to suppy gas and heating oil to their customers.
The oil companies have a profit margin around 9.5% That's about average for businesses as a whole. The financial industry, (banks, stockbrokers, etc.) average an 18% profit. At Microsoft, it's over 30%.
A large portion of the profits that the oil companies do earn is paid to the stockholders, the people who own the company, the people who put their money at risk so the company can provide a product we all demand. Most of that stock is not owned by rich people. It's owned by mutual funds where people invest their 401K money, and pension funds that retired people depend on.
Oh, you should also know that the Federal government and your state government EACH charge more in taxes on a gallon of gas than the oil company earns in profits. Government doesn't do anything to help provide the gas, and they certainly don't share any of the risk with the stockholders of the companies, the government just rips you off the pump.
2006-08-03 19:15:27 · answer #2 · answered by Jay S 5 · 1⤊ 0⤋
The President doesn't set the price of gas.
It's supply and demand, baby! And the fact that a huge chunk of what we pay for a gallon goes to taxes, taxes and more taxes...
Also, having to refine crude oil differently in different regions of the country adds to the distribution costs, and therefore, the price of a gallon of gasoline.
Too many people are complaining about how much the oil companies are making...they should be INVESTING in them, if the profits are THAT obscene!
2006-08-03 20:20:38 · answer #3 · answered by Anonymous · 0⤊ 0⤋
I'm not. He may not can directly control gas prices, but since most of the big organizations in the oil industry are his personal friends he could pursuade them to lower prices. Why is Exxon Mobil making billions and billions of dollars in PROFITS alone every quarter (not year) if the price of oil is going up? They say that they are just raising gas prices to compensate for the increasing price of the barrels of oil, but yet they are making billions in profits.
Bush has the power to squeez the powerful oil companies but he won't because he gets a cutback off of the profits because he and his family started their road to success in the oil business.
2006-08-03 19:07:44 · answer #4 · answered by bridetobebrandie 4 · 0⤊ 0⤋
You are right, he did not cause the gas prices. However both the state and federal governments could provide relief with a temporary tax roll back, This would save us about 67 cents per gallon at the pump.
2006-08-03 19:06:29 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Bush removed pollution standards and cut the taxes of these companies. How is he not at least partially to blame?
These oil companies are now allowed to charge whatever they want for a barrel of oil and relentlessly pollute the environment. It is funny that since he has been in office they have reported the largest profits in HISTORY. Are you seriously so blind that you think he is not partially to blame? Study some of the stuff he has done and dont be a puppet of Fox News.
2006-08-03 20:05:45 · answer #6 · answered by trevor22in 4 · 0⤊ 0⤋
Bush is a terrible President, but no President has any effect on gas prices.
2006-08-03 19:25:48 · answer #7 · answered by bradcymru 4 · 0⤊ 0⤋
Those of us with even as much as high school economics understand that the president does not control the world's oil markets. It's called supply and demand people. Buy a book and learn something instead of spewing crap you heard on Air America.
2006-08-03 19:06:54 · answer #8 · answered by Nuke Lefties 4 · 0⤊ 0⤋
He had nothing to do with it.
I hope the price goes up I bought a bunch of Exon Mobil stock. Drive drive drive go ahead floor it.
Go big Red Go
2006-08-03 19:05:41 · answer #9 · answered by 43 5 · 0⤊ 0⤋
anyone who thinks the President has any control over gas prices only shows their lack of knowledge and total ignorance of both our government and our free enterprise system
2006-08-03 19:10:33 · answer #10 · answered by sealss3006 4 · 0⤊ 0⤋