Oil Companies

[Anonymous]

Bill O' Reilly of FOX news- one of the more conservative of the media - has asked all the major oil companies to reduce profits by 20% to not only help in the disaster, but to reduce gas prices that are causing world wide inflation.....He is airing a week long investigation into the oil companies next week...Oil companies are howling about the idea- some are showing profits of 140% over last year......They claim this will slow exploration, new drilling, and refinery building- but aren't these costs of business taken out before profit is shown :???:

What do all you econ experts think about this idea?

 

[mrj]

OT, I would want to hear what the profits of oil companies REALLY are.

Hypothetical case: a rancher loses $1,000.00 one year. The next year he makes $5,000.00. Isn't that a 500% increase in profit? Does that make that rancher an evil profiteering SOB?

I would also want to know the facts about what it will cost to increase drilling new fields, transposting, refining, transporting again.......all the real costs of increasing our supply before calling the oil companies evil names.

And I would want the ecofreako's to bear their share of the blame!

MRJ

 

[Econ101]

Unlike the Pickett case, I have a horse in this race. My family owns interests in the oil companies.

I still want the investigation.

The FDA is bought off. The USDA is bought off. I am sure many others are also. Who is really selling out America?

The answer my friend, is blowing in the wind, the answer is blowing in the wind.

 

[redriver]

Just more stupidity from FOX "news", or should I say FOX 'propeganda'. O'reily doesn't have a clue what he's talking about, just likes to hear his own voice it appears. It's about time that american consumers started paying for all the energy they piss away. Maybe they won't be so wasteful now. Bunch of friggin whiners.

 

[Sandhusker]

Unlike the Pickett case, I have a horse in this race. My family owns interests in the oil companies.

I still want the investigation.

The FDA is bought off. The USDA is bought off. I am sure many others are also. Who is really selling out America?

The answer my friend, is blowing in the wind, the answer is blowing in the wind.

They're not bought off. Nobody is peddling influence. The money exchanging hands are simply "donations" and "contributions". Nothing is expected in return. :wink:

 

[Silver]

Just more stupidity from FOX "news", or should I say FOX 'propeganda'. O'reily doesn't have a clue what he's talking about, just likes to hear his own voice it appears. It's about time that american consumers started paying for all the energy they p*** away. Maybe they won't be so wasteful now. Bunch of friggin whiners.

Well, mr Positive, I think if you investigate you will find that Canadians consume more energy per capita than our friends to the south. In fact I heard a while ago that if the rest of the world consumed energy at the rate of Canadians that the earth would need to be four times as big to supply that enrgy.
As far as the oil companies profits go... they sell their product on the open market just like us cattle producers. Blame the commodity traders if you like, they are likely more to blame than the oil companies.
Wait, I know... blame capitalism. Danged evil capitalists....

 

[Bro]

Free enterprise, alot of people spout off their support of this ideology when it goes their way, when it doesn't, they suddenly believe someone is obviously unfairly profiting at their expense. Even if the price of fuel doubles, as it will undoubtably, are you going to be forced out of business? If so, then you are already in trouble, and it was going to happen anyways. Face it, this is going to cause inflation, this is going to cost all those squatters living on acreages or a 1/4 section that commute to work to move to town. THis will cause land prices to fall in the near future. If your going to retire, SELL OUT NOW!!! This is probably going to cause a recession of some sort. On the plus side we will use less fuel, and become more energy efficient. THere is alot of buttheads driving SUVs and Pickup trucks that should not be. Just go to any restaurant and look in the boxes of 90% of the trucks, and there won't be a scratch. Face it, we are energy gluttons and live a decadent lifestyle. P.S. I have alot of energy stocks, and am making a fortune!! diversification does not have to be only agricutural related you know!!

 

[Shelly]

We had this same conversation yesterday morning, about squatters and small town working folks moving back to the city. These high fuel prices are going to kill small towns and surrounding areas. We live in prime squatter-ville (only being 15 minutes from Saskatoon) and my husband and I have been sitting on 5 quarters of perfect land for these people. All hills and trees. We were going to sell it off in 40 acre parcels when we give up farming and live quite comfortably. Now we'll be lucky if we can get rid of it when we are ready to retire. No one other than rich doctors and lawyers will be able to commute back and forth to the city, and there's only so many of them around. Gas here is over $5 a gallon, who can afford to drive anywhere at that price?

 

[mrj]

Unlike the Pickett case, I have a horse in this race. My family owns interests in the oil companies.

I still want the investigation.

THe FDA is bought off. The USDA is bought off. I am sure many others are also. {Who is really selling out America?

Could it be the rumor mongers, back-biters, and people who envy those individuals and businesses perceived (usually erroneously) to have "too much" or be "too big"???? MRJ}



The answer my friend, is blowing in the wind, the answer is blowing in the wind.

 

[Anonymous]

Bro: "Just go to any restaurant and look in the boxes of 90% of the trucks, and there won't be a scratch."

Very astute observation!

Can't argue with that in most cities.


~SH~

 

[Anonymous]

Poll finds suspicion of oil companies
The Washington Post
Sept 4, 2005

WASHINGTON - An overwhelming majority of Americans believe oil and gas companies are gouging consumers in the aftermath of Hurricane Katrina but offer mixed reviews of President Bush and the government's initial response to the deadly storm, according to the latest Washington Post-ABC News poll.

The survey conducted Friday night found that 72 percent of the respondents say oil companies and gas suppliers have taken advantage of the storm emergency by raising gasoline prices, which spiked virtually overnight last week to $3 dollars a gallon or more in many areas. Eight in 10 fault the federal government's response to surging gas prices, the survey found.

"We're pushing $3" a gallon, said John Snell, 63, a retired boiler operator who lives in Fargo, N.D. "It's never been legitimate - it's just an excuse to raise prices. ... It's gouging, that's all it is."


The survey also found that Americans were sharply divided over the performance of Bush and local, state and federal governments in the aftermath of Monday's storm. Slightly less than half - 46 percent - approve of the way Bush has handled relief efforts while 47 percent disapprove, a result that might offer some cheer to some beleaguered White House staffers who feared a stronger negative reaction.

The early response got equally mixed reviews, with 48 percent rating the federal effort as excellent or good and 51 percent saying it was not so good or poor - views deeply colored by party affiliation. According to the poll, 68 percent of Democrats rated the government's performance as "not so good" or "poor," while 66 percent of Republicans judged it to be "excellent" or "good." This finding shows this national emergency has not united Americans in the same way as did the terrorist attacks of Sept. 11, 2001.

Slightly more than four in 10 say the government response revealed serious problems in federal emergency preparedness overall, while a majority (54 percent) disagreed.

"I think they were just a little too late," said Kathy Morrison, 45, a nurse in Jonesboro, Ark., who said she was "appalled" by the government's tardy response. "I just really don't think the government is doing all that they could. I even voted for Bush. I thought he was going to be the best, but I was wrong, I was terribly wrong. I think all he cares about is oil."

 

[PORKER]

COMMENT*****I think they were just a little too late," said Kathy Morrison, 45, a nurse in Jonesboro, Ark., who said she was "appalled" by the government's tardy response. "I just really don't think the government is doing all that they could.-------------Well I say TO all of the Kathys in the US.,,Isn;t their local gov the FIRST TO RESPOND and help with resources that they stored ahead for such emergency's.How about using the food that was stored in the DOME but was locked up ,too feed the masses.Why was the hunderds of School buses and City buses parked ,that could have moved people out of Danger and to places that had services.The tardy response starts locally as they had NO IDEA HOW TO PLAN for a EMERGENCY !!!!!!!!!!! Hells Bells, these People live DAY To DAY and don't know what stocking UP means.

 

[mrj]

Poll finds suspicion of oil companies
The Washington Post
Sept 4, 2005

WASHINGTON - An overwhelming majority of Americans believe oil and gas companies are gouging consumers in the aftermath of Hurricane Katrina but offer mixed reviews of President Bush and the government's initial response to the deadly storm, according to the latest Washington Post-ABC News poll.

The survey conducted Friday night found that 72 percent of the respondents say oil companies and gas suppliers have taken advantage of the storm emergency by raising gasoline prices, which spiked virtually overnight last week to $3 dollars a gallon or more in many areas. Eight in 10 fault the federal government's response to surging gas prices, the survey found.

"We're pushing $3" a gallon, said John Snell, 63, a retired boiler operator who lives in Fargo, N.D. "It's never been legitimate - it's just an excuse to raise prices. ... It's gouging, that's all it is."


The survey also found that Americans were sharply divided over the performance of Bush and local, state and federal governments in the aftermath of Monday's storm. Slightly less than half - 46 percent - approve of the way Bush has handled relief efforts while 47 percent disapprove, a result that might offer some cheer to some beleaguered White House staffers who feared a stronger negative reaction.

The early response got equally mixed reviews, with 48 percent rating the federal effort as excellent or good and 51 percent saying it was not so good or poor - views deeply colored by party affiliation. According to the poll, 68 percent of Democrats rated the government's performance as "not so good" or "poor," while 66 percent of Republicans judged it to be "excellent" or "good." This finding shows this national emergency has not united Americans in the same way as did the terrorist attacks of Sept. 11, 2001.

Slightly more than four in 10 say the government response revealed serious problems in federal emergency preparedness overall, while a majority (54 percent) disagreed.

{"I think they were just a little too late," said Kathy Morrison, 45, a nurse in Jonesboro, Ark., who said she was "appalled" by the government's tardy response. "I just really don't think the government is doing all that they could. I even voted for Bush. I thought he was going to be the best, but I was wrong, I was terribly wrong. I think all he cares about is oil."

"

And how are those who get all their news from the TV and most radio stations to know any better than this lady? They have been force-fed that mantra about this president forever! I even heard the LA gov state this morning that she believed the administration would "politicize" events, so she witheld permission for them to come in immediately. I heard yesterday that she said she needed twenty four hours to make the decision.......then she and others down there have the gall to blame the federal authorities for their problems!

Re. the oil prices.......same deal........we don't often hear the reasons such as unprecedented demand from relatively new oil customers such as China and much of Asia.......we only hear of the evils of the oil industry......we rarely hear how enviroextremists have held back exploration and drilling known sources......or how they have demanded umpteen special formulations that have to be kept separate which causes inefficiencies in distribution......it goes on and on and doesn't help one little bit to cut demand, nor to increase supply, nor to cut back prices......but it surely does succeed in giving unjustified blame to this president, doesn't it?

MRJ