Posted on 05/31/2007 3:41:52 AM PDT by IrishMike
What to do about — choose the adjective — "spiraling," "skyrocketing," "out-of-control" gas prices? .................... A national morning show interviewer practically high-fived the governor of Florida for urging an investigation into "gouging." Meanwhile, over at one of the cable news networks, the "newsman" beat his desk, his chest and anything he could find to express his concern, outrage and downright indignation.
The California speaker of the State Assembly said that while he lacked evidence that oil companies engage in cheating, he still felt they did. Why? His gut told him so. In fact, over the last 20 years, 30 federal investigations seeking evidence of price manipulation or collusion came up with, uh, well, a dry hole.
But the conspiracy theorists press on. Sen. Chuck Schumer, D-N.Y., asked the Government Accountability Office to conduct an investigation. A year ago, he asked the Federal Trade Commission to investigate. By then, the FTC had already conducted two investigations, uncovering no evidence of unfair business practices. But, who knows? Maybe the oil company CEOs pulled a Sandy Berger, and stuffed damning evidence in their pants. So, by all means, let's look harder.
The mainscream media reports on the "outrageous," "unacceptable," "unjustifiable" "record profits." Never mind that following price peaks in 1981, low crude and gas prices during the '80s and '90s bankrupted some oil companies. But that was then. Today, Exxon Mobil, Chevron and ConocoPhillips earn tens of billions of dollars annually in profits that "defy common sense."
Why bother reporting that, with Big Oil profits at eight to 10 cents on the dollar, other companies and industry sectors earn more — including, for example, Internet giant Google and the banking industry. In California, the state "earns" about 40 cents per gallon, with the feds' cut coming in at almost 19 cents.
(Excerpt) Read more at creators.com ...
My tactical (Diesel) fuel reserve is coming in handy as we have not been to the gas station in a month so far, and are likely to make it to September without doing so.
Yes. We’re spoiled rotten, and we like to avoid facts. Democrats are taking advantage of that.
My liberal sister & brother were complaining about both the how we are wrecking the environment and how much gas costs — “The government ought to do something” blah, blah, blah, “limit what you can drive”, etc...
Well, I turn to them and said that from their point of view it is actually good gas has gone up then because people will use less. They were stunned. My brother lives 50 miles from his work — I asked him how would he feel if the government made a law that you could only live 25 miles from work — that would certainly save fuel and perhaps that is the correct way to go. Like most libs, they just couldn’t argue those points and they changed the subject. Pretty funny.
The biggest influence in today's high gasoline prices is the same as it was a year ago -- the introduction of new seasonal gasoline blends with higher ethanol content. It's the ethanol driving up the price of gasoline, since ethanol costs more than oil right now.
Anyone who needs evidence to support this should just go to their nearest gas station and check out the price of gasoline vs. the price of diesel fuel. New Jersey, for example, is one of those states in the U.S. where diesel fuel costs more than gasoline (due to a higher motor fuel tax on diesel) under normal circumstances (diesel fuel typically costs about the same as 93-octane gasoline here). And yet today -- just as it was last May -- diesel fuel costs about 20-30 cents LESS than 87-octane gasoline at most fuel retailers.
So true.
And never mind that some of those companies just lost assets in our friendly Venezuela! Nay, not a senator or a government official saw it appropriate to protect those assets in the interest of the American public!
I’ve never looked into it, but I wonder how much of these “obscene” profits that oil companies show at times of rising prices are due to the reevaluation of inventories at the higher matket prices.
My Dad and I had a reserve during the 1973 crisis....about 20 fifty-gallon barrels in our barn..... Hmmmmmm....with no fire hydrants within 20 miles....
We stayed on grass-fire watch until the last barrel was used.....and fought several fires that had the potential to kill everything within a 1/2 mile. I still get nervous thinking about it.
Diesel hasn't gone up around here. Sitting around $2.75 for the ULSD.
Back last fall, Hillary was quoted as saying: "If you want to see lower gas prices, vote for Democrats in November." Of course, sane people knew she was lying, but I would like to see someone in the MSM at least ask her a question about it. The manipulation by the rats and the obliging media is sickening.
Oil industry apologists have their hands full justifying the gouging these days.
Gas prices in my area of Cent. Florida are going DOWN!
Burning food for transportation is absolute folly. Everything related to corn from tacos to beef to whiskey is going up as well. We have 5-600 years of coal that can readily be turned into diesel fuel. You have to wonder where the tipping point is when an entrepreneur will jump in and start making fuel out of coal.
There is the possibility to convert your vehicle to dual use by adding propane or CNG. You can even put a CNG refill station in your home.
It’s truly astonishing how tyrannical/fascistic self-identified “liberals” have become. In so many ways, they aren’t happy till you’re unhappy.
Happy Motoring!
I understand it is unlawful to break down the various costs and taxes associated with gasoline, at least at the pump, in at least some states. Think about that.
Then I had another comparison: A town has 3 water wells. The wells are sufficient until the town grows. The town needs more wells, but is not allowed to drill more. Then, rather than making the current wells more effecient, the wells are getting old. One by one they have to be shutdown to be repaired. There are water shortages but still the town is not allowed to drill more wells.
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