Are there any of you that actually believes that price fixing doesn't exist in big oil ?

Question

or That the Bush administration hasn't profited from it ?

One word... Enron, although not a unique situation it certainly crystallizes how deep the corruption goes... or how high up more accurately.
Beginning in 1999 http://www.houston.org/blackfenders/16b%...
we see a steady increase in price..but if w look at the last 3 years we see something else http://www.randomuseless.info/gasprice/g...
and for those of you bent on the "OPEC" argument... think again http://www.zmag.org/weblinks/kerr_endofo...
America produces the vast majority of our own oil.. Arab oil only accounts for 11.01 % http://rpc.senate.gov/_files/may2306oild.

http://www.houston.org/blackfenders/16B%20W003%20Oil%20and%20Gas%20Prices%20_3_.pdf

http://www.randomuseless.info/gasprice/gasprice.html

http://www.zmag.org/weblinks/kerr_endofoil.htm

http://rpc.senate.gov/_files/May2306OilDependencePG.pdf

sorry for the bad links.. these will work

Enron didn't happen the way they said it did? Kenny "boy" Lay wasn't W's buddy?
Curious and Darth Cheney haven't become multi billionaires from "their" economy ?..
you know Brian ... I have a bridge for sale...cheap!

Answer 1

Whenever someone believes in something, he/she should be able to back it up with valid reasons as to why they believe what they do.
To all who believe there is no grossly inflated price manipulation in the oil industry, I would ask how they explain the ENORMOUS profits of this industry since Katrina occurred. Go ahead, I'm listening.

Answer 2

Do you really think the Congress and all of the media could not have proven that by now if it was true? Oil is a commodity traded on the open market just like oranges or wheat and the price is determined by the markets, not oil companies. And oil company profits are right in line with other business, the dollar figures are higher because it's a huge industry, but by percentages, big oil makes profits in the same range with McDonalds or any other major company. You should spend more time dealing with the real world and less time trying to prove conspiracy theories that don't even begin to be true.

And to LeAnn below, you are the ones making the accusation so it's up to you to prove it, not for us to disprove something that isn't true. You can't prove a negative.

Answer 3

"price fixing" can only occur at the opec level, and is generally subdued due to the profit motive. Once sold by an opec country, oil is bought and traded on the open market, and collusion is difficult to come by.

Answer 4

The Bush administration certainly benefitted to an extent, but Bush and Cheney personaly collected huge profits ..

Answer 5

Of course there is price fixing in big oil!!

The USA elected 2 failed oilmen....we should expect nothing less.