2007-03-29 08:28:13 · 13 answers · asked by decider JR 3 in Politics & Government ➔ Politics
free market B.S...oil is as needed as blood.these companys need to be regulated by the people,and Iraq oil resurves need to be americas payment for tax mnoneys spent on their sorry little government.free market crap,not for oil.///
2007-03-29 08:43:25 · update #1
As the CEO of EXXON stated on national television "We will charge whatever the market will bear and our investors love us for it". He said that on the Neil Cavutto business hour. He received the largest bonus of any CEO ever! After all, we apparently do nothing but pay and pay and do nothing while the people we elected do nothing about it. Neither dems or repubs. I would never buy exxon ever again because of those remarks made by him. However, it never seemed to bother anyone else. Some talked boycott but it never happened.
Why? I guess no one gave a damm. We just keep electing those who have their pocket books get fatter from the big oil boys.
2007-03-29 08:44:49 · answer #1 · answered by Anonymous · 0⤊ 3⤋
Yes, they can. It's called a free market. You can do it, too. Charge whatever price you like for whatever service you can provide. Of course, you aren't guaranteed any buyers.
If oil companies had the power people like to imagine they do, why was gas 99 cents only 5 yeas ago? Did they forget they could charge $3?
2007-03-29 08:33:40 · answer #2 · answered by SoothingDave 2 · 2⤊ 0⤋
The free market isn't BS. Take an economics class & stay awake. You might learn something. If the oil cos had that kind of power, prices would ALWAYS be high. They would NEVER come down.
2007-03-29 09:38:21 · answer #3 · answered by yupchagee 7 · 1⤊ 0⤋
Oil prices are set by the futures markets well unless opec pulls one over on us.
Domestically companies make their money on refining and distribution not on the price of the oil itself.
2007-03-29 08:33:21 · answer #4 · answered by sociald 7 · 0⤊ 0⤋
Big oil doesn't have that kind of control of petroleum prices. Get real kid. I hate big oil companies, but the one thing I know I cannot accuse them of is price fixing, the marketplace is far too competitive.
2007-03-29 08:50:42 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Yes, private companies can raise the prices as high as they want - they usually stop themselves when competition means they would loose money by doing so - but with big oil, you've got this big club called OPEC, that tends to make "gentleman's agreements" to keep prices as high as they can. (they should have been trust-busted ages ago).
2007-03-29 08:35:19 · answer #6 · answered by daisyk 6 · 0⤊ 0⤋
The oil agency does not set the fee, speculators do. it fairly is in accordance with furnish and demand. in case you shrink the fee of what a agency can fee, you reason the agency to bypass out of agency. Why? by using fact the agency ought to be able to fee a cost which will conceal fees. If the fee of oil is going up and the agency won't be able to conceal the fee, earnings dry up, and finally that is going to fee extra to offer than what it brings in.
2016-12-08 13:48:49 · answer #7 · answered by ? 4 · 0⤊ 0⤋
Law of supply and demand; otherwise known as a free market economy. Communism hasn't proven to be a very successful economic model
2007-03-29 08:32:06 · answer #8 · answered by wizjp 7 · 2⤊ 0⤋
Yep - it's called Free Enterprise, which is governed by the law of Supply and Demand.
2007-03-29 08:36:01 · answer #9 · answered by pater47 5 · 1⤊ 0⤋
Instead of answering your question, I'd like to mention what a friend of mine said: The oil companies have got us not only by our noses but by our necks, too.
2007-03-29 08:35:02 · answer #10 · answered by Anonymous · 0⤊ 1⤋