And I don't think that's likely to happen since they refused to even have the energy execs be sworn in to testify before Congressional committees!
Mike said:Seems to me they certainly told the truth when asked how their profits could be so exhorbitant when the cost of raw goods had risen so dramatically?
Their answer was.........we can pass the costs on to the consumer and they will pay it.
Until the demand for gas goes down the prices will continue to rise. It's not a Republican nor Democratic thing just a component of capitalism.
If the price of wheat when up to the point Americans were paying $10 for a loaf of bread, how fast do you think the government would get into the farmer's business?
Cowpuncher said:Disagreeable wrote:
If the price of wheat when up to the point Americans were paying $10 for a loaf of bread, how fast do you think the government would get into the farmer's business?
Where in the world have you been. The government has been in the farmer's face for a hundred years!!!!!!!![]()
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Cowpuncher said:Disagreeable wrote:
So why not the oil industry's face?
Do you think they are not?? I spent 25 years in the oil industry and I can assure that nothing in this country is subject to as much regulation at the energy business. Nothing they do is without scrutiny from local, state and federal officials.
That is one reason that oil companies are disappearing. Mobil, Gulf, Texaco, Unocal, Arco, Amoco, Sohio, Getty, Phillips etc. etc. etc.
When I worked for Big Oil, we had an office at our Headquarters where the IRS permanently camped out. They worked there for Uncle Sam just like we worked for Big Oil.
If you want a real "for instance", look up the Santa Barbara field,discovered in 1979 with reserves of close to a billion barrels. After the California Costal Commission, USGS, State of California, etc, etc got done making rules and then changing them after Big Oil complied, the Oil companies abandoned the project - after losing hundred of millions of dollars. Those are some of the dollars you are paying at the pump now.
If you're talking about the offshore oil, there are plenty of oil rigs pumping offshore in Santa Barbara, CA. They took than ban off in the '80s.
Cowpuncher said:Disagreable wrote:If you're talking about the offshore oil, there are plenty of oil rigs pumping offshore in Santa Barbara, CA. They took than ban off in the '80s.
Are you sure? They have been pumping oil offshore California for decade, but I doubt that they are producing the BIG ONE.
Please provide some information for an old oil man. It was owned in part by Chevron and Phillips when it was discovered.
Just in case any young skulls full of mush read this, I want them to know that you are an illogical conspiracy theorist with a very short view on the North American and world economy.T3023 said:There are no oil and gas refineries or gas companies owned by Americans. Any oil pumped out of the US is sold to the European market. They refine it and sell it back to us for 6.00 a gallon.
If GM and Ford go bankrupt, there will be no more tool and dye industry in this country. They will be the last. When they go we will be at the mercy of European countries / Far East countries (we don't own it, we are not benefiting from it) because they are the last.