And just how am I wrong? It is greed pure and simple and the price we pay at the pump in no way reflect the oil companies costs on that tank of gas.
A 12 oz bottle of bottled water, purchased in a grocery store at .75 cents costs more per gallon ($10.50) than gasoline. $3.??) In many instances, the water is pulled from the public water supply of a local city. Where is your outrage there? Gaqs is a bargain.
Because of supply and demand. People bid against each other for oil deliveries. The one with the oil is the one who paid what the other bidder was unwilling to pay. Oil is sold on the open market. I don't know what else to say other than it really is that simple.
Right, Capitalism is greed. However, the other system is tyranny.
You don't have any idea what you are talking about.
The executives of the company have a fiduciary responsibility to the stockholders to maximize return on investment. If they knowingly do anything else, they are violating securities laws. Greed has nothing to do with it.
It is the capitalist system. It applies to McDonalds, WalMart, Home Depot and the Day Care down the street.
It is the system that puts a roof over your head and food on your table. If you can find a better system anywhere in the world, share the knowledge with us because we would all love to know.
Throwing stones at glass houses? You've never suffered from greed?
Ayn Rand: "Yes. And your point is?"
Price and Costs have no mathematical relationship.
It does not matter if it's jelly beans or gasoline. Price is determined by the market and is a function of supply and demand. The producer can attempt to control his costs, but he can not set price based on those costs.
All producers want their costs to be lower than price, but are not always successful at that --- see General Motors.