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All Oil Companies Complaint - No Gouging? Baloney!

Review by Starlord on 2008-05-01
CASA GRANDE, ARIZONA -- Just a couple of years ago, we had a spike in gasoline prices at the pump. Congress claimed to be 'investigating' whether or not the oil companies were engaged in price gouging. The oil companies all conducted an advertising campaign crying about how there was no gouging, that the record profits they were raking in were just figures on paper.

Here it is, 2008, and we are paying over $3.50 per gallon, and the oil companies have been crying and moaning that the prices are high because Light sweet crude is at $115 a barrel, and they share our pain. Horse apples!!!!!

Just now, on the local news program on Phoenix television, came the announcement that oil companies are posting the highest profits ever in history. Can anyone say they don't believe in price gouging? Do the oil companies think we are stupid as well as blind and deaf?

I think it is time for the US government to nationalize the oil companies and run them for the benefit of the consumers and not the shareholders. It seems to have worked for other countries. But the reality is that Congress won't do squat, while the oil companies keep raking in outrageous profits. The days of the robber barons are back, but instead of railroads or steel, it is oil.

Congress will do nothing, and the people will grumble and grouse, and continue paying through the nose. When I came to Arizona, the last tank of gas I bought in Indiana was 19.9 cents a gallon, in December, 1973. Because of the phony 'oil shortage,' gas was at $1.49.9 by the time I arrived in Coolidge, on January 4, 1974.

I feel like Roddy Piper's character in 'They Live!' and that I am the only one who can see the oil companies for what they are. Criminal enterprises formed ro rob the American public of not only money, but the self-esteem of being human, instead of going along with being sheared like sheep.

We need a rallying cry to form battle lines against the oil companies and take strong action against these crooks. No Price Gouging going on? Who do they think they are fooling?
Comments:16 Replies - Latest reply on 2008-05-02
Posted by Principissa on 2008-05-01:
Interesting you posted this starlord. I read on CNN.com this morning that a couple of college kids made fuel that can actually be used safely in a car from the fryer oil at Chik-Fil-A. If two college kids can find an alternative fuel source at work and the powers that be still have their heads up their butts telling us they are working on it. Price gouging? You bet. How else can they afford to pay their CEO's salaries in the millions and send their spoiled little off spring on fancy vacations and buy them a new car a month? Gas company executives don't have to worry about gas prices, they own the company so of course they don't pay for it like us little people do. The only way they will care is when we can't afford to fill up our tanks anymore and they can't afford to spend the summer in the Bahamas. I'm sure that will get their attention and make them do something about it.
Posted by Anonymous on 2008-05-01:
Good post Starlord. When I started driving it was about .35 cents a gallon. We could fill the VW, get a pizza and see a movie for about $10.00. Of course I was only making about $2 an hour though. Gas around here is sitting at about the $4 a gallon mark. We will see no relief until GWB and his band of idiots leave office. He would never do anything to upset or hurt his oil buddies.
Posted by Anonymous on 2008-05-01:
I'll hate to see any change. Mr. Bush has helped increase my wealth, just like his daddy did.
Posted by Anonymous on 2008-05-01:
I feel your pain, Starlord. It's costing me $40 to fill up my little Corolla when three years ago it was between $12-16. Record profits on the backs of the middle class and poor? These people are in for a big fat hairy dose of karma.
Posted by Starlord on 2008-05-01:
I am going to stick my neck out here. I have been taken to task a couple of times for making perfectly logical statements, and I have had to read a number of Bush-bashing comments that border on psychosis. Perhaps those people who love to bash the President, be he GWB or Clinton, JFK or Eisenhower, the President can do nothing without the approval and cooperation of Congress. The Founding Fathers set it up that way so no man could weild too much power. Remember, everything you declare Bush guilty of, the Democratic-controlled Congress had to approve. To declare the President is the source of all that is bad in washington, regardless of who he is, he is not a dictator and does not enjoy sole control of everything.
Posted by Anonymous on 2008-05-01:
Well, GWB can be held accountable for some of the damage to our economy. If he wanted to put his foot down about the obscene profits the oil companies are making he could make an issue out of it. He instead has chosen to do nothing which is killing the economy on all levels. GWB could have done more to help prop up our falling dollar. There are a number of things that fall square in his lap. If the Dem's win the office I can guess the oil companies will be breaking out in a sweat.

Bush is not responsible for all that's wrong but his doing nothing about issues makes him an easy target right now. I have some oil stocks but am ashamed to admit it right now with so many people choosing between groceries or putting gas in the car right now.

Starlord, You think the stimulus money they are sending out will do much to spark the economy?

I seem to remember another member from Houston always ranting on about what a wonderful guy Bush is. Hmmmmmmm?
Posted by Slimjim on 2008-05-01:
This whole price debacle is hopefully the straw that will get the move toward alternatives for fossil fuel seriously going in our country. Regardless of when, we are going to run out of oil reserves. Not only is the US consumption at an all time high, but China is presently creating a huge new problem. They are exponentially consuming oil at an alarming rate, and they are creating for themselves a volatile high volume future dependency. The last thing we need is to be completely crippled by a world wide oil shortage and eyeing up what little is left at the same time with another super power in the same desperate situation.
Posted by Anonymous on 2008-05-01:
Good points Slim. It is scary when you think that India and China are bidding for the same oil that used to be just about all ours. The bio fuel thing is hurting us also as corn is being bid higher for fuel than animal feed and such. Corn farmers are having a bonanza.
Posted by madconsumer on 2008-05-02:
the oil companies wont ever change, not as long as bushy biy has his hands in it. how else do you think he can afford to buy all the politicians?
Posted by Hugh_Jorgen on 2008-05-02:
The oil companies are making about 8% profit - just like they have for years and years. The difference is when the price of your product goes up, the total amount of your profit goes up, although the profit margin remains the same.
Posted by Anonymous on 2008-05-02:
Hugh's point is valid. Their profit margin has not changed. That is not to say that it shouldn't change, but it has remanined pretty steady.
One other consideration: where do you think that Exxon-Mobil's $40 billion profit goes? Do you have a retirement plan? A pension plan? A 401K, or an IRA? How about mutual funds or investments? If so, then you are the direct beneficiary of the windfall.
This doesn't make it right, by a long shot, but Exxon-Mobil et al. are really just the faces of the investors.
Posted by DigitalCommando on 2008-05-02:
When you factor in that the oil companies maintain the finest (enron style) accountants in the world, what we would find is a clever shell game which overstates capital investment, while under-reporting profit. This con game is further greased through hundreds of millions of dollars every year to buy that "look the other way" mentality known as lobbying. These companies have intentionally reduced production to "create" a false sense of availability of their product, much the same as debeers has done with the diamond market. THERE IS NO SHORTAGE OF OIL people, only the cleverly crafted illusion of one. These recent price increases are the result of Bushladen and his oil cronies understanding that the game will be over upon his exit and are taking their last stab at the american wallet before the game is over. The only people who are trying to justify the cooked books of the oil industry through their ignorant statements of support, are the one's who are caught up in it's evil web via dividends, and are choosing to look the other way also as long as the gravy train continues flowing into their accounts.
Posted by Hugh_Jorgen on 2008-05-02:
It has to make you chuckle - on one hand, Bush is so ignorant he can't find his own a$$ using both hands, but the next minute he's a criminal mastermind that has singlehandedly manipulated the entire worldwide oil industry for his personal benefit.
Posted by DigitalCommando on 2008-05-02:
Hugh, you can continue thinking Bush masterminded this if you like. The rest of us will just be content with him ALLOWING it to happen. In case you don't know, bush is far more connected to and in bed with the oil industry than any other president. Please do continue to enjoy your dividend profits while the backs of the american consumer are being broken. Some of us have bought into their lies, some of us have not. Good Day!
Posted by Hugh_Jorgen on 2008-05-02:
Then I must have misunderstood your statement - "These recent price increases are the result of Bushladen and his oil cronies understanding that the game will be over upon his exit and are taking their last stab at the american wallet before the game is over." - I though you were proclaiming him a mastermind.

Either way - we aren't going to change each other's minds and this isn't the place for political discussion - I should haven't even started it. Good day to you as well!
Posted by Anonymous on 2008-05-02:
I didn't see anybody complaining when residential real estate prices were going through the roof. I didn't see anybody getting called gougers when they flipped a house for a 30% profit. I knew nobody who sold their home below market value for moral reasons. Nope... we all enjoyed the windfall and thanks to Bush didn't get taxed to death on those capital gains. People seem pretty happy when the value of their assets was on the rise. People only started crying when prices went down. Good day to me as well. (why would anybody want to have a bad day) lol.

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