Do you think the problems at oil refineries are fake just to drive up gas prices?

Question

Isn't it strange how so many oil refineries are suddenly having problems? These problems are seem to be synchronized and suddenly maintenance costs at these refineries have become a reason to drive up oil prices? Yet big oil is making record profits,

Mind you, the governments are the ones that make the most on a gallon or liter of gasoline - with their various taxes and excise taxes.

But the more we spend at the pumps, the less we spend at the stores, malls and restaurants. So everybody loses ... except big oil.

For some people driving a car is the only option. What if you live in a city that does not have public transit coming out to your residence, and the city is not exactly bicycle friendly (i.e. snow, no sidewalks, narrow roads etc). You still need to get to work or school. So in a sense we're punished for driving to work to earn the government tax dollars.

Answer 1

Oil company officials blame economic factors such as crude oil prices and taxes, but according to watchdog groups and records that I have seen from past government investigations, oil companies have a history of trying to manipulate the amount of gasoline on the market so they can hike prices. A 10-cent increase could mean $10 billion in revenue.

High gas prices is a tactic called "shorting the market" -- intentionally creating a gas shortage so oil companies can raise prices.

Here is how shorting the market can be done: refineries slow production or shut down; gas meant for one market is sent elsewhere. That's what and how they screw all of us and just look at the major gas companies and review the profits.

Answer 2

The refinery problems are real. However, it's the speculators on the futures markets that hype up this and other issues to drive up the cost of oil and gasoline prices. They regularly go on the financial network shows and they tell everybody that the world is coming to an end because we're down to the last barrel of oil and we have to share it with 6 billion people in China. They do this because they bought a whole whack of gasoline futures contracts and they want to sell them to some poor sucker for a hugh profit. That sucker (wholesaler) then passes on the inflated gasoline cost to consumers.

Remember the electricity blackouts and natural gas scares in California a few years ago? It turned out speculators like Enron energy traders were manipulating electricity markets at a hugh cost to consumers.

Unfortunately for the speculator, all the stories they are spinning are turning out to be suspect at best. Gasoline supplies are holding up in the US thanks mainly to imports. Contrary to weather forecasts of doom and gloom, the US hasn't seen any sign of hurricanes this season. Also, OPEC has recently stated that if there is need for more oil, they will simply increase exports. Hopefully, we'll see some short term relief at the pumps.

Answer 3

You are absolutely right. Oil companies can come up with the most incredible reasons for raising prices. For example, not long ago, Michigan's gas prices were the highest in the nation. The oil companies' reason? Michigan is too far from the Gulf of Mexico. Strange. I can think of several states that are farther away.

Last winter, the prices shot up because of "cold weather." When summer holidays arrive, gas goes up. Between holidays, such as now, it's back down again. It's certain to rise again by Labor Day. Yet they still expect us to believe their lame excuses.

What can we do about it? Absolutely nothing. Boycotting gas stations for a day won't accomplish a thing. We'll need the gas eventually, and the oil companies know it.

It is greed, greed, and more greed. And the rest of us will continue to pay.

Answer 4

Right on man, and yes not mention the millions inept corporate to refinery business practices we are forced to pay for(like mismgnt, or lawsuits from injuries for instance)

Answer 5

The problems are real. You need to maintain any equipment or it will eventually break down. The problem is that it is almost impossible to build a new refinery in the USA. The tree huggers and save the planet socialists make it too hard to build.

It is not "big oil". It is the regulations that they have to deal with. If we could drill in the gulf and in ANWAR, and could build the refining capacity here, we could cut our dependence on foreign oil almost completely. Instead we have to worry that we may hurt a little bug.

Today's environmental movement is the home of socialists and communist who want to restrict our freedoms!!

Put the blame where it belongs!

Answer 6

Yes.
Refining oil into gas is chem 101.
Congress should mandate scheduled refinery maintenance and increased spending by oil companies for new refineries since oil is vital to our National Security.

Answer 7

I agree completely with you on that comment. I was watching a documentary on the different answers the Executive Board was coming up with about the war and oil prices, and everybody changed their story or it did not match what the other person was saying. From 9/11 to now George Bush and his Board of Trustees did plan to all of what had happened. That's just my opinion about the Government, and I believe they are all liars.

Answer 8

Citgo is owned by the government of Venezuela and no one should buy from them. This is a capitalist country and the government has no right to intrude on the oil companies business. But it makes me sick to see Exxons billions of dollars in profits while we get sucked out the exhaust of the high cost of gas.

Answer 9

Its the Owners of the Pipelines and Refineries who control the prices, and then the Little Chimp doesnt help the working class combat these high prices, buy all fuel from local USA owned companys, do not buy at BP, this is Brittish held, Sinclair is a US chain, google to find others in your area.

Answer 10

Hi, I just read your rave but you are yelling at the wrong end of the microphone.

Let us all stop driving for a while and you will see REAL problems for the oil companies.

Never mind the taxes, the prices, etc.

Stop buying gasoline and do without.

You will see a definite improvement on all levels with the oil companies.

Yes, you are just ONE person, but all of us together can change it.

( If we really want to change it )