Posted on 06/17/2009 5:06:55 PM PDT by fiscon1
I have made no secret of my distaste for big oil. So, now, I will build a case why it would not only be beneficial for society to break them up, but, under Sherman Anti Trust it is perfectly legal. Here is the relevant portion.
The Sherman Antitrust Act (Sherman Act,[1] July 2, 1890, ch. 647, 26 Stat. 209, 15 U.S.C. § 1–7) was the first United States Federal statute to limit cartels and monopolies. It falls under antitrust law.
(Excerpt) Read more at theeprovocateur.blogspot.com ...
Big wind and Big solar ain’t gonna be any better.
All true monopolies are created and maintained by the government. Maybe you should be focused on Big Democracy.
How about we break up big government first and leave the private sector alone.
Good point. Look at Big White house media corp.
Big government needs to be broken up.
This is INSANE!
First off, “Big Oil” can not control the price of oil, which is a world commodity.
Next, “Big Oil” is VERY capital intensive, for the deep sea drilling, and things of that type.
Economies of Scale, basic economics, would dictate that consumers get a BETTER price, with the system we have now.
There is NO American company that can control the price of either crude oil, or gasoline, or diesel, or jet fuel.
“Conservatives” who hate “big oil” are not really conservatives, they are Hugo Chavez or Fidel Castro types, without the courage to admit what they really believe!
Facts:
1.) There have been NO criminal charges against anyone, in recent history, for attempting to fix the price of gasoline or crude oil or any petroleum products. This INSPITE of the fact that any US Attorney, or any State Attorney General would LOVE to prosecute such a case, if there was any EVIDENCE!
2.) A great deal of the exploration and production of oil, in the lower 48 States, is done by smaller firms. However, it benefits these firms to have solid, stable BIG corporate buyers of their crude product.
3.) The corporate profits of US based Petroleum or “Big Oil” companies is, historically, very reasonable!
Again, if you hate oil producers so much, just fly the hammer and cycle in front of your house and admit who you really are!
Big Oil is not under jurisdiction of the US.
US Oil is not Big Oil on the world stage.
Weaken them, and they all will be taken over like British Petroleum took over Amoco.
In constant dollars, gasoline would be about 10 times what it is now. You can buy gas for a lower price than drinking water in the fancy bottles.
The article never said that big oil controls the price of oil. The article never even said that big oil controls the price of gasoline. What the article said was that the price of oil and gasoline do NOT move in tandem. yet, they are always the same for all the companies. How does that happen?
No “little oil” can handle America’s needs unless and until they become “big oil”
Break up Big Banks and Big Hedgers who are bidding up the price of oil. Require all those who bid be willing to accept delivery. Don’t permit the borrowing of stock.
Standard Oil!
Trust-busting? Big Oil?
Can we get out of the 19th Century, please?
If “Big Oil” is so maniacal and profitable, a smart person would invest every penny they have in the Company’s stock. It should be a no brainer. I’m willing to bet the anti-Oil people don’t put their money where their mouts are.
A conspiracy? Must be the Jooos!!! (/sarc)
It's because the process of extracting oil and refining it into gasoline is fully "commoditized" -- which means that all oil companies buy their oil on the global spot market and all local fuel retailers buy their fuel from the same refineries.
The only real difference between the gasoline sold in an Exxon station on one side of the street and in a Shell station across the street is the composition of the fuels (additives, etc.). The prices are identical because they're selling the same product that comes from the same raw materials.
Most of these arguments are besides the point. Oil companies are a part of almost all mutual fund portfolios. So, I am not sure what that has to do with it.
Yes, Sherman is an old law but that doesn’t mean that it doesn’t apply today.
There’s only one comment that addressed the article directly and that one claimed that oil companies don’t set the price of oil which the article itself didn’t say.
Pretty close to the same, I am guessing.
Who are you going to put in jail for THAT “conspiracy”???
COMPETITION keeps the prices relatively the same, everywhere, the MARKET sets the price.
Grow up and try to understand that the BIGGEST driver, in the cost of energy, is the GOVERNMENT!
The federal and state gasoline taxes are huge.
On top of that, the local property taxes on refineries and pipelines and wells is huge.
On top of that, the corporate income taxes on production are HUGE!
There is NO public benefit to breaking up the existing oil companies.
There is only the Communistic, tyrannical need of some to stroke their own ignorant egos.
Sorry, this issue hacks me off.
Their can be NO principled way that any true conservative can argue against “big oil” -—
This is tin-foil-hat stupidity.
Same with grain prices, pork bellies, orange juice ~ other commodities.
In the good old days a cartel or monopoly had an advantage in that it could "predict the future" by simply setting a price. Today, it's easier than that.
That’s fine but nowhere in the article is the opposite point made. I really don’t understand any of the points any of you are making.
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