Posted on 11/08/2005 5:55:10 PM PST by Recovering_Democrat
Basic economics says that the price of a commodity is not necessarily based on the cost of production but on supply and demand.
Since the oil companies are currently flush with cash, if demand for oil continues to decline, then prices would go down even if the oil companies were forced to pay some sort of windfall profits tax.
Of course I would rather the "windfall profits" go to "evil" oil execs who will spend it on a twentieth vacation home or a thirtieth Ferrari rather than on giving it to the feds where it will be squandered on "renewable" energy studies and general waste, fraud and abuse.
He's right when he says conservatives hate him as much as liberals do.
Personally, I like him to an extent, even if I don't agree with everything he says (Am I going to get flamed for that)?
Baloney. There are thousands of oil companies in this country all competing to find oil and gas.
Granted, someone with no knowledge of the industry might think that there are only as many oil companies as they see in their neighborhood selling retail gasoline, but that's a conclusion based on incredibly faulty information.
The oil industry is all about cutthroat competition and it hasn't changed a bit.
When Ben Stein and Wayne Rogers agree on anything, you KNOW that O'Reilly is wrong.
i dont watch o'reilly but i can imagine his ignorance on this issue. actually i got pissed off today because i heard hannity they are going to start congressional hearings on these "profits"? 9% for oil companies is a "profit"? now some republicans are telling these companies to give their "profits" to help pay the heating bills for the poor? even MO gov. matt blunt!
what is this, the U.S.S.A.?
This is a truly ignorant question but was the Wayne Rogers BOR the same Wayne Rogers of M*A*S*H? Sheesh, O'Reilly needs to remember to quit digging when you get yourself into a hole. I was really interested in listening to Stein and Rogers but Bill kept talking over them.
I can't wait until Ben Stein writes a column that politely, subtly rips O'Reilly to shreds, and dismantles his Nickelodeon-wishful-thinking-populist economics.
Yes, the very same Wayne Rogers of M*A*S*H fame.
The entire country seems to have been gobbled up by Maryland and California overnight.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.