Not being allowed to tap OUR OWN resources is the equivalent to peace time treason.

Obama makes the alludes that we must lower our standard of living because other countries would be mad at us. Is he running for the Presidency of the USA or some make believe world leader?

There is a gold mine of oil in Iraq but nobody wants to go get it cause you might get shot in the process. Analyst believe they have 100 million more barrels than the Saudi's. If the morons would wake up, they could all live like kings for the rest of their days.

Not being allowed to tap OUR OWN resources is the equivalent to peace time treason.

Obama makes the alludes that we must lower our standard of living because other countries would be mad at us. Is he running for the Presidency of the USA or some make believe world leader?

Obama echoes some of the Jimmy Carter rhetoric. I remember the days of thermostats set on 65 degrees in mid-winter, lines at the pumps, and a president in a sweater, eager to show that we all needed to learn to live with a lower standard of living. I do not look forward to a return of the malaise of a Carter presidency.

Obama echoes some of the Jimmy Carter rhetoric. I remember the days of thermostats set on 65 degrees in mid-winter, lines at the pumps, and a president in a sweater, eager to show that we all needed to learn to live with a lower standard of living. I do not look forward to a return of the malaise of a Carter presidency.

 

In your opinion what are we going to do once oil hits $200?

In your opinion what are we going to do once oil hits $200?

There is not much we can do quickly. Democrats and a few Republicans like John McCain have ensured that we are at the mercy of the oil producing countries. In my case, I have about a 15 mile commute and a car that gets 30 mpg+. I figure that as long as I have a job, I can easily swing gas prices in the $15-20/gallon range. Whether I can afford to keep my utilities on and pay for food is another matter.

 

Americans have been bamboozled by politicians pandering to environmentalists and using oil companies as scapegoats. As Rev. Wright might say, the chickens are coming home to roost.

There is not much we can do quickly. Democrats and a few Republicans like John McCain have ensured that we are at the mercy of the oil producing countries. In my case, I have about a 15 mile commute and a car that gets 30 mpg+. I figure that as long as I have a job, I can easily swing gas prices in the $15-20/gallon range. Whether I can afford to keep my utilities on and pay for food is another matter.

 

Americans have been bamboozled by politicians pandering to environmentalists and using oil companies as scapegoats. As Rev. Wright might say, the chickens are coming home to roost.

 

Do you believe in the Bilderberg myth?

Do you believe in the Bilderberg myth?

No. Do you?

The one thing I don't like about the oil companies is that they don't seem to be absorbing any of the increased costs. They seem to be passing most of the cost increases straight to the consumer and are not taking any hit to their bottom line. In most industries, when your production costs goes up, your profit margin goes down even though you still pass on some of the cost to the consumer.

 

See, this is ultimately my biggest beef with this whole shakedown. And it is a shakedown, despite what's said by oil investors who keep on parroting the "supply and demand" line of BS, just so they can sleep well at night and justify making gross (as in disgusting) money while their fellow Americans get reamed.

 

I don't mind anybody making a profit. It's when they make gross (again, disgusting) profits and don't take the hit like the rest of us when times are hard. That's not good economic policy; that's just gluttony at its worst.

 

For shame, for shame.

Again, petroleum is a raw material in the production of gasoline. It is a cost in the production of gasoline - not income. If oil companies cut their profits from say, 10 percent to 7 percent, the cost of a gallon of gasoline would not drop much. Below is HHSDad's breakdown of the cost of a gallon of gasoline from another thread:

 

Crude oil cost: $2.96

Refining cost and profit: $0.26

Federal Excise Tax: $0.18

Ky Excise Tax: $0.21

Distribution costs: $0.03

 

Total cost: $3.64

 

So, if oil companies went totally non-profit and refined the oil at a loss, the price of a gallon of gas would drop by about a quarter.

 

Guess your portfolio's not hurting any, eh?

Guess your portfolio's not hurting any, eh?

I don't understand the question. What does my "portfolio" have to do with the thread or my post?

I don't understand the question. What does my "portfolio" have to do with the thread or my post?

 

You're one of the most ardent defenders of oil company policy, so I can't help but suspect you're cleaning up in the market at the rest of our expense. I can't really see any other reason to defend these high prices so vigorously.

You're one of the most ardent defenders of oil company policy, so I can't help but suspect you're cleaning up in the market at the rest of our expense. I can't really see any other reason to defend these high prices so vigorously.

If it makes you happy, just go right ahead and picture me as a corporate fat cat who made his fortune trading oil futures.

You're one of the most ardent defenders of oil company policy, so I can't help but suspect you're cleaning up in the market at the rest of our expense. I can't really see any other reason to defend these high prices so vigorously.

You are better than that....

You're one of the most ardent defenders of oil company policy, so I can't help but suspect you're cleaning up in the market at the rest of our expense. I can't really see any other reason to defend these high prices so vigorously.

 

He's just someone who believes in theres no such thing as an excessive profit. And if you had a business, would you want there to be? He is also someone who believes in drilling in the US, which we all would agree. I don't think he is profiting from this.

 

We are all equally frusterated but you gotta look at it 360 degrees. I am def not a big oil fan and i'm open to trial and error with windfall taxes, but if we drill here we may not need them.

You do realize that hundreds (probably 1000's) of companies make much higher profit margins than any of the oil companies. So are we going to windfall tax any company with a greater than 12% profit margin at a higher rate than those below that level??? As previously pointed out, it will not work, and why would we want to give that money to the worst "money managers" in the history of mankind (any government). Where they are likely to get a negative ROI.

 

Who are you, or congress for that matter, to decide what the "appropriate" level of profit is?

 

Here is a simple answer. Buy less of the product they are selling. Change your behavior. Supply and demand is not BS. Especially in a marketplace of the size we are talking about.

 

Cost is only an issue in the absence of value. I tire of hearing people complain about the cost to fill their tank. Usually they are the 30 somethings driving 7 passenger SUV's by themselves.