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About Those "Skyrocketing" Gas Prices
Creators Syndicate ^ | Thursday, May 31, 2007 | Larry Elder

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 ...


TOPICS: Extended News; News/Current Events; Philosophy; Politics/Elections
KEYWORDS: bigoil; elections; energy; oil; taxes
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To: ClaireSolt

There are only three ways I can think of to “crack a cartel”.

1. Legislate and punish offending companies/ organizations.
2. Stop using the product, eg. switch to some other product.
3. Raise production sufficiently to end the cartel’s dominance.

In this case, OPEC and the rest of the suppliers are pretty invulnerable to #1 due to the international scope of the markets.

The second and third often take a lot of time and perseverence -— and by Congress’ and states’ actions, the US has pretty much abandoned #3.


161 posted on 05/31/2007 10:59:17 AM PDT by AFPhys ((.Praying for President Bush, our troops, their families, and all my American neighbors..))
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To: Red in Blue PA
In 2006 the world oil production was 84.51 MMBPD.

http://www.eia.doe.gov/emeu/ipsr/t14.xls

In 2006 those majors produced the following:

ExxonMobil = 2.68 MMBPD
BP = 2.48 MMBPD
Shell = 1.95 MMBPD

http://exxonmobil.com/Corporate/Files/Corporate/fo_2006.pdf

http://www.shell.com/static/investor-en/downloads/publications/2007/2006_annual_review.pdf

http://www.bp.com/liveassets/bp_internet/globalbp/STAGING/global_assets/downloads/F/FOI_2002_2006_full_book.pdf

A total of 7.11 MMBPD or 8% of the global market. These numbers includes all of the subsidiaries and their percentage share of partnership ventures.

I’m not sure which others you think combined with these three "own" the market. But it is going to be a rather long list to get to the controlling share.

162 posted on 05/31/2007 11:04:23 AM PDT by thackney (life is fragile, handle with prayer)
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To: IrishMike; Half Vast Conspiracy; All

IM: that IS a GREAT graphical display you have in Post#96.

Now, I’m wondering where the disparity between that and the table in Post#64 comes from?

Specifically, I see NY listed as 60.8 on the map, but 48.7 on the table. More like 60.8 is what I’ve heard in the past... but the 20% difference between the two disturbs me.

Wondering if anyone can clear up why the diff?


163 posted on 05/31/2007 11:14:48 AM PDT by AFPhys ((.Praying for President Bush, our troops, their families, and all my American neighbors..))
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To: AFPhys
gasbuddy keeps these pretty current and gives a description of taxes that are percentage based. Those are going to change when measured by cents.

http://www.newyorkgasprices.com/tax_info.aspx

164 posted on 05/31/2007 11:26:06 AM PDT by thackney (life is fragile, handle with prayer)
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To: mysterio

I understand fully, thanks, but like I said, these are lifestyle CHOICES. I’m not sure what you aren’t understanding. If you really had to go without gasoline, you COULD, bt it’s certainly not desirable. Yes, some stuff would have to change, but it could be done. I sure the hell don’t want to.


165 posted on 05/31/2007 11:32:29 AM PDT by Clam Digger
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To: thackney

“I don’t understand the claim “

Willful ignorance


166 posted on 05/31/2007 11:36:35 AM PDT by Clam Digger
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To: thackney; IrishMike; Half Vast Conspiracy

AHHH... I see... The “gas buddy” prices pretty nearly match the Post#64 table. The Post#96 “map” appears to include more of the “miscellaneous taxes” mentioned in the gasbuddy “comments” column.

Therefore, the Post#96 “MAP” seems a more accurate representation ... and it appears that NYState hides about $0.16/gal more tax in their “miscellaneous” gas taxes.

So, for NY... 60.8/gallon - seems about right when I compare with the prices in PA and NJ, which are about 10 & 20 lower.


167 posted on 05/31/2007 11:42:49 AM PDT by AFPhys ((.Praying for President Bush, our troops, their families, and all my American neighbors..))
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To: Red in Blue PA
If only a few companies made aspirin and they took the price to $2 a pill, I can only hope you would have a problem with that.

Some companies make pills that cost over $100 dollars each. I have no problem with that. If the medication can save a life, it's worth it.

And gas and oil is run by an OLIGOPOLY, not a true free market where anyone can come and sell their wares

That's nonsense. What have you been reading?. Gas and oil is sold by hundreds of private companies and nations from Russia to Venezuela. It is a very competitive market. Even OPEC has a hard time enforcing supply restrictions among their member states.

168 posted on 05/31/2007 11:44:29 AM PDT by Dan Evans
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To: Clam Digger
If you really had to go without gasoline, you COULD, bt it’s certainly not desirable. Yes, some stuff would have to change

Stuff like buying groceries or anything else transported. I could hunt my own food with homemade arrows, grow vegetables, and live on welfare off of your tax dollars.

I stand by my argument that it's impossible for many Americans to not buy oil based fuels.
169 posted on 05/31/2007 11:49:16 AM PDT by mysterio
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To: Alberta's Child

We go through this every year starting in March when the refineries start shutting down to switch from winter gas to summer gas and throw a little maintainance in there as well. Investigations start as the refineries get up to full speed and the price starts comming down in June.

Happens every year.


170 posted on 05/31/2007 12:00:41 PM PDT by CPT Clay (Drill ANWR, Personal Accounts NOW.)
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To: Alberta's Child
You are right as far as you went, the new low sulfur diesel fuel is giving refineries fits ... efficiency is down at what few refineries are operating. It's not easy to procure the exact diesel blend the U.S. requires by law, from other country's refineries. The libs are quite now because they don’t want anyone to realize that government is one of the main causes for ____ Gas prices.
171 posted on 05/31/2007 12:05:28 PM PDT by Tarpon
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To: Clam Digger
Willful ignorance

LOL!!!

I see quite clearly the competition between the different companies. A couple decades of them hiring the companies I work at has provided a lot of education and experience into how competitive the market is. The fact that so many small operation remain competitive and few grow large like Anadarko shows the falseness of your claim.

172 posted on 05/31/2007 12:26:54 PM PDT by thackney (life is fragile, handle with prayer)
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To: mysterio
I stand by my argument that it's impossible for many Americans to not buy oil based fuels.

The fact that the petroleum industry is so important to our economy is all the more reason for it to remain a free market.

173 posted on 05/31/2007 12:27:41 PM PDT by Dan Evans
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To: Dan Evans

I don’t believe it’s a “free” market, but other than that I agree with you. I don’t want the government doing anything about it. I just want the high prices to give a competing technology a real foothold so the oil monopoly gets some real competition.


174 posted on 05/31/2007 12:31:13 PM PDT by mysterio
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To: CPT Clay
We go through this every year starting in March when the refineries start shutting down to switch from winter gas to summer gas and throw a little maintainance in there as well.

Maybe it should be like a national holiday or something.

175 posted on 05/31/2007 12:33:07 PM PDT by Dan Evans
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To: AFPhys

I don’t know what they are doing. I do know that others have strategic reserves and we coordinated with them after Katrina.


176 posted on 05/31/2007 12:51:47 PM PDT by ClaireSolt (Have you have gotten mixed up in a mish-masher?)
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To: thackney

I have no use for anyone who sides with chavez. UGH


177 posted on 05/31/2007 12:53:11 PM PDT by ClaireSolt (Have you have gotten mixed up in a mish-masher?)
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To: sauropod

They are the result of your choices, and you have many options to adjust your realities.


178 posted on 05/31/2007 12:55:10 PM PDT by ClaireSolt (Have you have gotten mixed up in a mish-masher?)
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To: mysterio

That’s a fine argument, too, but not the one I made.


179 posted on 05/31/2007 1:37:04 PM PDT by Clam Digger
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To: thackney

I didn’t mean willful ignorance on YOUR part, I agree with you! Sorry, I was not very clear on that at all.


180 posted on 05/31/2007 1:38:53 PM PDT by Clam Digger
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