Raymond J. Learsy: The Gouging Starts At The Oil Well

Yahoo News Huffington Post ^ | 19 April 2006 | Raymond J. Learsy

[XtreMarine]

One of the great misnomers distorting today's energy debate is the misconception that the price gouging at the pump is a key cause for today's high gasoline prices. Now, pump-gouging may indeed be a factor, but it pales by comparison to the gouging that's going on at the well which has caused prices to catapult over the last years. It is the OPEC cartel and their oil industry cronies ratcheting up and manipulating the price of crude that lies behind the astronomical price of gas. The lack of focus on this issue is a ringing victory for the oil-patch propaganda machine that has brainwashed our leaders into looking (and posing) at the point of pain rather than confronting the real problem.

As example, Senator Charles Schumer of New York, standing in front of a gas station surrounded by the assembled press and television cameras, loudly calls for an investigation into gasoline price gouging. The gas station attendant, his boss, the station's supplier, and the refinery producing the gasoline are at fault by implication -- this on a day when crude oil prices touch new highs. I believe Senator Schumer would have better served his constituents if he had held his press conference in front of an oil well. That would send a signal that he is truly serious about finding the key culprits behind the current gas-price saga.

The price of crude (which makes up more than 60 percent of the price of gasoline) has doubled in the last two years. Through a series of manipulated price hikes and phony production constraints orchestrated by the OPEC cartel and abetted by big oil companies and the lobbyists and politicians that serve them. These players have persuaded us and lulled our government into accepting and repeating the fiction that crude prices are out of our control and dictated by free market forces. And the media has for the most part accepted this as gospel without a critical nor questioning eye.

Those who have followed my entries here ("The Price of Oil Being Pushed Ever Higher By Manipulating Oil Futures Trading" 4/05/06; "Taxing Oil Monopoly Profits" 3/14/06; "OPEC Agonistes" 1/29/06) know that I view the oil patch mantra of market-set prices with great skepticism. Now if only Senator Schumer and his colleagues would look at the big picture and the big players in this oncoming train wreck, instead of always focusing on the obvious photo op.

[XtreMarine]

In light of all the debate over America's dependency on foriegn oil, Should Floridians support drilling in the Gulf of Mexico off the Florida coast?

Vote at htt://snappoll.com/poll/90298.php

Thanks. I am using the data to add content to my term paper for school.

[Paladin2]

I laid away a three month supply. I'm not buying anymmore until it runs out as long as prices stay high.

[proxy_user]

I hate to break it to this fellow, but if guys in India and China are waving $100 bills at passing oil tankers in an effort to gas up their new Toyotas, this kind of thing is likely to happen.

[Wristpin]

Yes and it would be nice to have 1 Million barrels per day coming down from ANWR. Too bad the Dems have blocked it time after time.

[onedoug]

Let's guess what Shumer would vote to unleash oil companies at ANWR and throughout the Gulf of Mexico.

This while oil exploration and recovery yet goes on among the millions throughout Los Angeles, which, if it weren't, prices would be MUCH higher.

[T'wit]

The gouging starts in the federal reserve system. If it was just oil prices going up, you have too much demand or too little supply. If MANY prices go up, what's really happening is that the dollar is going down. That's because the Fed is creating 'way too many of them = inflation.

Oil, gold, silver, commodity prices, retail prices, are up all over the place. Therefore, blame the falling dollar. And for that, blame the government of the United States.

[danmar]

As example, Senator Charles Schumer of New York, standing in front of a gas station surrounded by the assembled press and television cameras, loudly calls for an investigation into gasoline price gouging.

...when the outgoing Exxon CEO receives a retirement package upward of 400 Million Dollars, free use of the Company's Jet, free lifetime security detail and a host of other perks, while we the stinking peons are paying +$ 3.00 a gallon of regular, why do I get the feeling I am getting shafted, royally?

You know what?...I despise Schumer like black plague, but in light of the latest developments, I tend to give the guy the benefit of the doubt.

[grey_whiskers]

...when the outgoing Exxon CEO receives a retirement package upward of 400 Million Dollars

Post 42 on this thread shows that over the course of a year, 67 cents per tank paid for the pension...

Cheers!

[Born Conservative]

Let me be the first to say: It's Bush's fault.

[XtreMarine]

Why would you say that? Please explain.

thanks and could you vote on whether or not Floridians should support drilling in the Gulf of Mexico.

visit http://snappoll.com/poll/90298.php

thanks

[GoldCountryRedneck]

Lay this one, also, at the feet of your individual State pols...

Why isn't anyone pointing out that the Energy Bill our(?) congress passed mandated a shift to 10% enthynol....knowing full well that there isn't that much alky yet available.

$upply and demand....

Note also that NO state governments are reducing the TAXES on pump prices as a consumer cushion during the mandate.

And NONE of those facts seem to be noticed (or commented on) by the congress-critters or the MSM....

Ain't it time to revolt yet????????????????

[Born Conservative]

I was being facetious. It seems as though every problem is explained away by the libs and/or MSM as "it's Bush's fault". Saying this is a tradition here on FR.

And, I will vote in the poll.

[XtreMarine]

I agree. Lets revolt and not buy gas:(. There are many items we as concerned citizens are allowing to slide by. Wake up America only former Exxon CEO's are enjoying the high prices...

Now please vote on my online poll

http://snappoll.com/poll/90298.php

thanks

[XtreMarine]

Thanks for the explanation. As a Marine I don't catch the quick wit too good... My idea of a joke is watch a terrorist squirm around like a rat looking for cheese when he finds out my boys and I are coming...

[GoldCountryRedneck]

I agree. Lets revolt and not buy gas:

Not practical....10,000,000 taxpayers rioting in the streets would be MUCH better!!!

Ain't gonna happen tho'.....(sigh)

GCR

p.s. Did vote in your poll....

[Rakkasan1]

just heard on the radio that Sen.Coleman wants to be notified about price gouging for gas.
the site to let him know is http://gaswatch.energy.gov/

I think I'll let him know his decision to not drill in ANWR is gouging what I'll pay in the future .
taxing gas at high rates doesn't help either.