I'd like to see someone answer the bolded part.

 

I agree with RebelK. What is your answer?

People say they don't want to drill in Alaska because it will harm the environment, and they're right it will, but if I have to pick between us or the environment it's an easy call to make.

 

We do not have to choose. We have the ability to drill and not damage the environment. Look at the Alaskan Pipeline, it has been there for 30 plus years and it has not destroyed the environment locally, let alone world wide. There will be an accident once in while, but the environment will not be harmed.

The big thing is big oil is making a TON of money and putting very little into alternative funding. Most of all the profits are going back to the shareholders. Most people view it as... well if im making a ton of money, why would I wanna do something to lower my profits or in this case... find a cheaper alternative source.

 

Dems wanna take a portion of there profits and use it to fund alt sources. I guess theoretically, the more you put into funding the quicker we find a new source.

 

That is what they are in business for, making money. They are oil companies. If you want alternatives, start a company to come up with alternatives.

If the oil companies want to diversify that is their business. Why don't we have some of those Hollywood types to use some of their movie profits to come up with alternative energy sources? Oh, maybe they want to put their money where it will do them the most good.

I agree with RebelK. What is your answer?

I want more drilling. Even if it may take some time for the oil to get to the mark, firms set prices partially based on future profitability. Right now, they are looking at a market with a hostile supplier and a dwindling supply. If I were making a decision in a market like that, I would try to make as much money as I could right now, in the event that the supply would end.

 

Furthermore, more drilling would create more American jobs, as well as (once the oil hits the market) more money coming to (or staying in the US). And the multiplier effect would take its course, as those oil workers would spend their money at the grocery store, and the grocery store workers would spend their money at Best Buy, etc, etc.

 

I also want tax credits for alternative fuel research. Right or wrong, there is a big push right now to wean us off oil. Since it is not exact on how much oil is practical for us to drill for in America, I'd rather be safe than sorry. I want tax credits for a lot of R&D, and this is included. Furthermore, a lot of these alternative fuels seem to be better for the environment which can only be good thing (1. Because we should help the environment, 2. Because the environmentalist-wackos could let us get more done).

 

That is what I think. Here is RebelK's post:

I starting to think that everyone but you and I are in bed with BIG OIL. I don't think that any of them Rep/Dems want to do anything about the oil situation. Perhaps they can't but I find that hard to believe. I just think that everyone of them are getting something put into their grubby little hands.

 

I don't think that McCain or Obama or anyone can do anything about it or they already would have.

No offense to you or her, but is that really an answer to RTS's question "If you were in charge, what would YOU do to bring down prices? That is not a solution, that is pointing fingers.

Where the governement ought to look, if they are adamant about changing the price of fuel is the futures market. That is where oil is bought and sold, not on the open market. .

 

The futures market is not setting pricing. They're simply betting on it. While it may have "some" impact, its not having the impact that many think IMO.

The futures market is not setting pricing. They're simply betting on it. While it may have "some" impact, its not having the impact that many think IMO.

 

Kind of long, but a great article on the issue that the oil futures market, by and large, now determines the price of today's oil, as opposed to being in relation to the laws of supply and demand. By the author's estimation - a man with fiarly accomplished credentials, BTW - 60% of today's oil price is driven by speculators. Definitely more than "some" impact.

 

http://www.globalresearch.ca/index.php?context=va&aid=8878

Kind of long, but a great article on the issue that the oil futures market, by and large, now determines the price of today's oil, as opposed to being in relation to the laws of supply and demand. By the author's estimation - a man with fiarly accomplished credentials, BTW - 60% of today's oil price is driven by speculators. Definitely more than "some" impact.

 

http://www.globalresearch.ca/index.php?context=va&aid=8878

 

Fair enough.

Kind of long, but a great article on the issue that the oil futures market, by and large, now determines the price of today's oil, as opposed to being in relation to the laws of supply and demand. By the author's estimation - a man with fiarly accomplished credentials, BTW - 60% of today's oil price is driven by speculators. Definitely more than "some" impact.

 

http://www.globalresearch.ca/index.php?context=va&aid=8878

It seems obvious to me that the supply/demand curve doesn't work for oil or anything else that is a necessary commodity with growing demand that outstripts supply. But I don't believe that the oil futures market has much to do with it either. Price is being determined solely by the supplier, and they can make it anything they want. Also, the value of your currency has a lot to do with it.

Kind of long, but a great article on the issue that the oil futures market, by and large, now determines the price of today's oil, as opposed to being in relation to the laws of supply and demand. By the author's estimation - a man with fiarly accomplished credentials, BTW - 60% of today's oil price is driven by speculators. Definitely more than "some" impact.

 

http://www.globalresearch.ca/index.php?context=va&aid=8878

Speculators are betting that Congress will do nothing to slow the rate of increase of gasoline prices and I believe that they are probably right. If most people's expectation was that Congress would take meaningful steps to increase domestic production, then speculators would be betting on lower prices.

 

Congressional Scapegoat #1 - Big Oil

Congressional Scapegoat #2 - Speculators

 

As long as members of Congress can get reelected while avoiding making tough decisions, then that is what they will do.

That is what they are in business for, making money. They are oil companies. If you want alternatives, start a company to come up with alternatives.

If the oil companies want to diversify that is their business. Why don't we have some of those Hollywood types to use some of their movie profits to come up with alternative energy sources? Oh, maybe they want to put their money where it will do them the most good.

 

Spoken like a true oil man. Since we all have to pay to go to a movie as much as we purchase gas. Why should big oil settle for 100 million dollar profits when they can get 100 billion dollar profits from us? Next time you pay 25% more for tires or food thank big oil. Of course, two problems... Barack doesn't agree that they should be making billion dollar profits and Bush has destroyed the GOP. I'd sell any stock before Nov.

Spoken like a true oil man. Since we all have to pay to go to a movie as much as we purchase gas. Why should big oil settle for 100 million dollar profits when they can get 100 billion dollar profits from us? Next time you pay 25% more for tires or food thank big oil. Of course, two problems... Barack doesn't agree that they should be making billion dollar profits and Bush has destroyed the GOP. I'd sell any stock before Nov.

 

Are you saying that the govt should limit the profits of a particular industry but not others?

Are you saying that the govt should limit the profits of a particular industry but not others?

 

Capitalism must have reasonable limits.... if they get it up to 200 oil that is 6-7 dollar gas and the brink of a depression. Gotta draw the line somewhere don't we? Or do we let the speculators and big oil get richer while we get poorer?

 

Do you think big oil is presently hurting with over 100 billion dollar annual profits?

Capitalism must have reasonable limits.... if they get it up to 200 oil that is 6-7 dollar gas and the brink of a depression. Gotta draw the line somewhere.

 

Do you think big oil is presently hurting with over 100 billion dollar annual profits?

 

Why does it matter how much profit they're making? They have the product that we demand. They should reap the rewards for that.

 

We as a society are still driving as much as we did when gas was $1. Yes, we don't like it but we still are not the point where we take a stand by changing our habits. The only change we have seen is that some/more people are looking for more fuel efficient cars. That's a start.

 

Its up to GM/Ford/etc to come up with new technology and we're starting to see that. If someone can come up with a battery that will last long enough and then be able to supply them at the requisite levels we'll see less dependency on foreign oil.

 

Until then, its not the govt's job nor is it the American way to limit profits just because we don't like how much we have to pay.

Why does it matter how much profit they're making? They have the product that we demand. They should reap the rewards for that.

 

We as a society are still driving as much as we did when gas was $1. Yes, we don't like it but we still are not the point where we take a stand by changing our habits. The only change we have seen is that some/more people are looking for more fuel efficient cars. That's a start.

 

Its up to GM/Ford/etc to come up with new technology and we're starting to see that. If someone can come up with a battery that will last long enough and then be able to supply them at the requisite levels we'll see less dependency on foreign oil.

 

Until then, its not the govt's job nor is it the American way to limit profits just because we don't like how much we have to pay.

 

The Pepsi CEO and many other CEO's in America do not agree with you. They can only pass the cost on to the consumers for so long until they stop buying. So if oil gets up to 200-225 per barrel and were paying close 8 dollars a gallon while big oil would be making even more profits.. we are just gonna say.. hey they are a business like anyone else and deserves their profits? I don't think someone like Southwest airlines agrees with you who hasn't released any flight schedules into the winter yet.

 

And incase you missed it cost of living is up 5% mainly due to higher energy cost...

The Pepsi CEO and many other CEO's in America do not agree with you. They can only pass the cost on to the consumers for so long until they stop buying. So if oil gets up to 200-225 per barrel and were paying close 8 dollars a gallon while big oil would be making even more profits.. we are just gonna say.. hey they are a business like anyone else and deserves their profits? I don't think someone like Southwest airlines agrees with you who hasn't released any flight schedules into the winter yet.

 

 

Pepsi's CEO doesn't agree because he has lots of competition. If Pepsi tries to raise their prices too high, I can stop drinking Pepsi and start with Coke, stop drinking soft drinks and go to water, etc. Why? Because other companies have come up with alternatives.

 

Southwest Airlines: same thing. I can fly another airline. I can drive. I can stay home.

 

I may not like how much gas costs but for the most part I have no alternative other than , as I said previously, using less by either driving less or buying a more fuel efficient car. That's not the oil companies' problem. That's my problem. If an acceptable alternative comes out, the oil companies will suffer and eventually go away - just like the market always does.

 

Your real beef should not be with the oil companies. It should be with the government and , more importantly, it should be with the voting members of society. We failed to demand alternatives. We were fat and happy with $1 gas. Now, as Malcolm X said, "the chickens have come home to roost."

 

Its our fault and now we have to live with it.