Current high fuel costs are ENTIRELY due to big oil price fixing as there is a glut of crude oil world wide.
2007-05-14 04:11:17 · 8 answers · asked by Sven T. 1 in News & Events ➔ Current Events
(1) Oil prices are down
(2) There is more production than ever before
(3) Production costs are lower than ever before.
(4) Production increases are outstripping increased demand
(5) Big oil profits are increasing are more than 10% per quarter (Exxon-Mobil)
(6) Artificially induced production decreases in U.S. output
(7) Internal memo leaked to AP from Exxon-Mobil aiming at achieving $4/gallon gas prices to increase profits by approximately $5 - 6 billion
--- ohhhh... To the individual telling me to go back to Eco101, I'm working on my MBA right now. Been there - done that!
2007-05-14 04:35:33 · update #1
That's not the reason at all. It's the demand that keeps going up. As long as that happens prices will go up also. Cut demand and the price will fall just like any item at the store. Live close to work and ride a bike if you really want to make a difference.
2007-05-14 04:30:22 · answer #1 · answered by Land Warrior 4 · 0⤊ 1⤋
They have a monopoly in the form of a cabal and that is always the problem with any monopoly, they dictate the terms and conditions.
After all, what else are you going to put in your tank to make your car run?
Supply and demand my bum!
Is that why the price at the pump dropped to $1.70 per gallon two weeks before this last November election and returned to $2.40 per gallon the same week following the election, because the demand was so much lower at that time?
They intentionally make the economics of the process complicated and as nebulous as possible so that proving any collusion is next to impossible for anyone outside of the cabal but they are the ones that set the price at the pump and it doesn't need to be any more complicated than that.
If you are directing your outrage at "Big Oil" for the high price of fuel then it is being directed at the correct place.
2007-05-14 11:57:50 · answer #2 · answered by The Dest 4 · 1⤊ 0⤋
The USA is the land of SUVs. Why? Because we like everything unnecessarily bigger and more powerful. I don't like the gas prices and agree that Big Oil has the government in their pockets, but the gas prices wouldn't be so hard-hitting and the oil companies wouldn't make as much money if we'd drive something reasonable.
2007-05-14 11:26:03 · answer #3 · answered by Anonymous · 1⤊ 0⤋
Who would be taking them to task? The president, who is an oil man himself?
Congress, whose past re-election campaigns were funded by big oil?
The people, who are willing to pay the higher price because they were too dumb to see the trap they set for themselves by letting their communities be developed such that cars became a necessity?
2007-05-14 11:19:11 · answer #4 · answered by lunatic 7 · 2⤊ 0⤋
I agree that something seems fishy, but the government would have to want to do something about it, which they don't. Even if they did, it is pretty tough to prove that they are colluding, don't you think?
2007-05-14 11:52:55 · answer #5 · answered by Anonymous · 1⤊ 0⤋
cause are politicians are corporate hookers and the public is a bunch of gullible morons who believe economics is a science and not a philosophy
2007-05-14 11:38:55 · answer #6 · answered by George 3 · 1⤊ 0⤋
Proof of fixing? Links to proof?
No fixes. Just simple supply and demand is what is pushing prices up.
2007-05-14 11:30:26 · answer #7 · answered by mustagme 7 · 1⤊ 2⤋
do you have insider information on that.??
2007-05-14 22:36:35 · answer #8 · answered by Anonymous · 0⤊ 0⤋