Are the major oil companies and certain Governments taking us for a ride?

Question

Or are they just a bunch of 'money-hungry bastards'?
The supply is there, but the reasons for the high oil prices are given as lack of refineries, wars, so-called 'tensions' between nations, etc. We are paying a very high price for their lack of vision and planning, or is this just a set plan to maintain high prices? And make billions in profits?

Answer 1

Its a plan to make billions in profits. The oil companies have never made more money than in the past few weeks. Even 10 years ago there were more oil companies than today and 20 years ago far more.

Its all completely legal too, what they have done, at least after the government approved the mergers. See what happens is when the price of oil goes up, this is reflected in retail gas prices within a few days of that spike, as they have a fixed markup they need to earn on their product. But the kicker is now with fewer oil companies, when oil prices FALL, they aren't as quick to re-lower prices. Used to be there were 8-10 oil companies so there would always be one or two to break ranks and lower prices hoping to gain market share. The rest would follow shortly thereafter not wanting to lose sales.

But now you have two mega-oil companies looking at each other's gas stations across the street, essentially. They know it is very illegal to openly discuss pricing amongst each other. But they also know that if they lower prices the other guy will have to as well, and that kills the gravy train for all involved parties, so they do it very slowly and begrudgingly. The gap between wholesale gas and retail gas has grown considerably wider since all these oil company mergers.

Doesn't take an economics major to know that less competition is bad for the consumer.

Answer 2

Tax, tax, tax. Is that each and one and all you human beings think of approximately? enable me ask you some thing. How can a tax act as a deterrent to the oil agencies, while it doesn’t harm them? You do comprehend that if those taxes are placed on oil agencies, they are going to easily upload it to the fee of the gasoline and you will finally end up paying it, no longer the oil agencies. Yea, that's the respond. Our government is development oil monopolies with their environmentalist stimulated regulations. they have truly killed the marketplace by ability of making it impossible for different oil agencies to compete. by using this you're tension to purchase the oil products from the agencies nevertheless interior the sport. They understand you could no longer bypass someplace else, the place the fee is decrease. because of the fact of this they might have the potential to destroy out with in basic terms including the tax onto the fee of gasoline. Taxes do no longer harm oil agencies. the only human beings you would be hurting with those proposed taxes is the straightforward guy. while will human beings study that throwing funds on the government isn't the respond. Socialism isn't the respond. eliminate all the purple tape which makes opposition impossible and the fee of oil will come down. Capitalism works. This has been proved, time and time back.

Answer 3

Yes, the major oil companies and certain Goverments are taking the American people for a ride! We, the American people, have always been seen as having "everything". The governments worldwide see Americans as "greedy", spending lavishly, excessively etc. They just do not know the "real deal" They just see an image and not reality! Governments worldwide and the major oil companies use this image to their advantage and the big oil companies here in the U.S. should be stomped, dragged through the dirty and hung up to dry! They, the big oil company exectives take advantage of all Americans with their "GREED". YES, GREED IS THE REASON THESE BIG OIL COMPANIES KEEP PRICES SO HIGH FOR THEIR "fellow citizens". They just care about "profit margins for THEMSELVES! THE LOVE OF MONEY IS THE ROOT OF EVIL!

Answer 4

Gordon tax grabbing Brown very kindly has frozen duties on
Petrol and Diesel in the last two or three years /isn't he generous .He thinks we are all stupid all the extra taxes he getting from the Oil Companies and sales from the Pumps as been quite astronomical because of the fluctuation in oil prices

Answer 5

Yes we are paying a high price for Democrats lack of vision and planning.

Answer 6

maybe not the companies here in the uk as every motorist knows most of the cost of a litre of petrol goes to the chancellor of the exchequer.. the gov gets fuel duty and vat...leaving not a lot for the company...but what i want to know is this....if they want to improve the enviroment..why dont they REALLY push for other fuels(like lpg,or bio fuels.).by saying that by the year 2012 all cars built must have duel fuel systems.

Answer 7

The oil belongs to the countries and companies that produce it and they can sell it for whatever price they want.

Best way to hurt them is to investigate other sources of energy.

Answer 8

I dont know if u live here in the uk, but we are paying almost £1 about $2 per litre and about 90% of that is the gready, fat, robbing tax man.

Answer 9

Doesn't it seem strange that with all this oil problems, the oil companies are making their biggest profit ever? Do you want to know who is getting screwed.....US.

Answer 10

yes, good morning to you. put the kettle on.

and wots worse is you're riding!

so get off and the next stop and buy yourself some eco systems like solar cell panels and look into hydrogen engines for your car etc.