[Boiling point]

Capitalism works well when the business owners are moral and ethical. The petroleum executives are not. If I were the only wheel chair manufacturer and held all the patents so no one could compete, it doesn’t make it OK to charge $50,000 for wheel chairs because the customers have to have it and will pay what they must. We should maybe change the catch phrase from “Compassionate Conservative” to “Compassionate Capitalist”. Except for the fact that the oil barons have no shame.

[metesky]

If I were the only wheel chair manufacturer

You think oil is a monopoly? Sorry, but here's the news: There are hundreds of companies drilling and supplying oil to the world.

[Ditto]

Capitalism works well when the business owners are moral and ethical. The petroleum executives are not.

So would it be moral and ethical if it cost them $3 to pump, refine and deliver a gallon of gas to sell it to you for say $2?

[syriacus]

If I were the only wheel chair manufacturer and held all the patents so no one could compete, it doesn’t make it OK to charge $50,000 for wheel chairs because the customers have to have it and will pay what they must.

If only $50,000 wheelchairs were available, something else would have been invented to take their place.

[N. Theknow]

What a misguided rant?

1. Oil company eexecutives do not set their pricing, commodities traders set it.

2. Oil executives are not greedy and evil, the politicians who set the rules and regulations and make 5 times more off a gallon of fuel than the oil companies do are the greedy corrupt individuals.

The politicians then strut and shout and posture themselves before an uninformed public about how they will "demand" explanations from oil companies for the high prices they have caused by their self-serving legislation.

Now compare that to your wheelchair company and imagine everytime someone drove by your store they cursed you for your pricing over which you have no control and have been made the scapegoat for greedy popliticians whose only ambition is to placate their voters and shift the blame for their abominable actions solely onto your shoulders.

And every election cycle they are going to call you to come explain yourself to them about how you dared to make money in spite of their actions, obfuscations and mendacity.

[iopscusa]

The whole point (total economic ignorance) of this article is summed up in this post, thanks BP rarely does someone hit the nail on the head as you have/sarc.

[Titus Quinctius Cincinnatus]

Capitalism works well when the business owners are moral and ethical. The petroleum executives are not. If I were the only wheel chair manufacturer and held all the patents so no one could compete, it doesn’t make it OK to charge $50,000 for wheel chairs because the customers have to have it and will pay what they must. We should maybe change the catch phrase from “Compassionate Conservative” to “Compassionate Capitalist”. Except for the fact that the oil barons have no shame.

Hi John, I see you found Free Republic.

Now go away, you stinkin' commie.

[Mr Rogers]

What profit margin do you think the oil companies work on?

[Smokin' Joe]

I really wish you people would quit blaming the oil industry for the devaluing currency you buy petroleum products with.

Put the blame on the Bankers who gimmicked up the subprime mortgage mess and devalued your dollar.

Blame the Congress who requires ethanol as an oxygenating additive in fuel.

Put the blame on the Congress and various state legislatures who won't let the industry drill where it is highly likely to hit major finds.

But to blame the people who made the decisions to make the multibillion dollar investments in exploration, production, research, and infrastructure in a DOWN market for global demand and geopolitical unrest which NOW puts them in a position to make a profit is unadulterated moonbat crap.

To say those same people are unethical for making a whopping profit of 20% is nuts. Coca Cola does that in a good year, too.

The oil industry is a business, not a charity.

[Alberta's Child]

Unless I've missed something in the last 30 years, there is no patent on oil -- so your comparison is silly and pointless.

Oil companies are in one of the least profitable industries in the U.S. In fact, I made the case on a thread last week that if I were a professional investor I'd be selling a lot of Exxon/Mobil stock right now.

[TalonDJ]

We should maybe change the catch phrase from “Compassionate Conservative” to “Compassionate Capitalist”.

Anyone that uses 'capitalist' as an insult is NOT a conservative and does not understand economics.

[MEGoody]

Question: Have you reduced your driving to only absolute essentials, e.g. to and from work, to and from the grocery store? If not, how can you complain about the cost of an 'essential'?

On a Sunday afternoon, I can go anywhere in town and see thousands of cars at malls, sporting events, et al. These are not 'essential' trips, but these same people will complain about the price of an 'essential'.

If the burden of fuel prices is so high, why are they still spending a hundred dollars or more to go to a game or a concert, and why are they buying more 'stuff' at the mall?

[gogeo]

Capitalism works well when the business owners are moral and ethical. The petroleum executives are not. If I were the only wheel chair manufacturer and held all the patents so no one could compete, it doesn’t make it OK to charge $50,000 for wheel chairs because the customers have to have it and will pay what they must. We should maybe change the catch phrase from “Compassionate Conservative” to “Compassionate Capitalist”. Except for the fact that the oil barons have no shame...

Ah yes, the mating call of the ecnomically illiterate.