Quote:
Originally Posted by TexasWSP
Oh I agree totally. It's easy for people to think that...no doubt. Is it true? No, especially if you know and understand how oil and gas companies make their money.....which a lot of people don't really have a clue. It isn't coming from the gasoline that you have to put in your car, I'll tell you that much.
Also, oil and gas companies don't set the prices for oil and gasoline. Very common misconception, as evidenced already by AKAMonet's thoughts on "cartels" "fixing prices". I'll put it this way. The largest oil and gas company in the United States controls around 4-5% of the world's oil. You honestly think they are the ones "fixing" the price here? No. I mean good lord......our country is importing 75% of its energy. If you don't think distributors in other countries have a large hand in these high prices then I don't know what to tell you.
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Brother;
You might enjoy this:
Our Own Oil Cartel
Terrence Jeffrey
6/4/2008
Contemplate this the next time you spend $60 or more filling up your tinny little car with gasoline made from imported oil: The U.S. government knows where it can get its hands on more untapped petroleum than exists in the proven reserves of Iran or Iraq, which have 136 billion barrels and 115 billion barrels, respectively.
This unexploited stock of crude is greater than what the U.S. Energy Information Administration reports is in the proven reserves of Russia (60 billion barrels), Libya (41.5 billion barrels) and Nigeria (36.2 billion barrels) combined.
It is more than Hugo Chavez's Venezuela has (80 billion barrels).
It is more than is now known to sit beneath the waters and sands of Kuwait (101.5 billion barrels) or the United Arab Emirates (97.6 billion barrels).
So, where is all this oil? And why aren't they pumping it?...............
http://www.caglepost.com/column.aspx?c=6622&pg=1
And would like to know what you think of this:
At $4, Everybody Gets Rational
Charles Krauthammer 6/6/2008
This is insanity. For 25 years and with utter futility (starting with "The Oil-Bust Panic," the New Republic, February 1983), I have been advocating the cure: a U.S. energy tax as a way to curtail consumption and keep the money at home. On this page in May 2004 (and again in November 2005), I called for "the government -- through a tax -- to establish a new floor for gasoline," by fully taxing any drop in price below a certain benchmark. The point was to suppress demand and to keep the savings (from any subsequent world price drop) at home in the U.S. Treasury rather than going abroad. At the time, oil was $41 a barrel. It is now $123.......................
http://www.caglepost.com/column.aspx?c=6664&pg=2
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