Comments on: Feds Probe Possible Oil Price Manipulation
Gov't Reveals Wide-Ranging Investigation Of U.S. Oil Markets Began 6 Months Ago
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- I don''t know why more people weren''t screaming bloody murder when the federal government stood silently by and approved the merger of Exxon & Mobile, following in the footsteps of BP & Gulf, and all the other megamergers, which were GUARANTEED to lead to monopolistic price fixing by the handful of multinational oil companies left standing. It was obvious this would happen, but Big Business now controls our government, lock, stock, and "barrel." We are no longer a democracy, but simply a corporate oligarchy. And those of you stupid enough to put two oil executives in the White House deserve all the pain at the pump you get.
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- "Feds Probe Possible Oil Price Manipulation"
Why is this NEWS? - Reply to this comment
- The price of oil is down $10 from last week, the demand is down world wide. And the price of gas increased 16 cents a gallon today. Makes sense to me? A few years ago there was power outages out west. It was found out later that the power companies were shutting down power plants just to increase their profits. It was all about profits. The same thing is going on in the oil industry right now. The federal government investigating this is like the fox guarding the hen house. Its to make it look like something is being done, but nothing will become of it. Too many elected officials getting their bank books padded by the oil companies. Other countries have high gas prices because of high taxes which pays for universal health care and free college education among other things. Our high prices goes to the oil companies. So it is not right to compare the high cost of gas in the U.S. to other countries. The answer is to vote everybody out of office this fall, and start over new!
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- Posted by fishinfool43 at 08:25 PM : May 29, 2008
That would be ''par for the course'' - Reply to this comment
- Amen Mangler!!!,
IF they are found guilty, does that mean we get a refund? ROFL - Reply to this comment
- The CEO of Exxon Mobile was on the Today show a few weeks ago, and said it is reasonable to make 10% profits on his product.
Posted by bullyforhim at 08:00 PM : May 29, 2008
I would agree to a 10% profit on occasion. but the over 100% profit we have witnessed in the past year is criminal and should be treated as such. - Reply to this comment
- Posted by ramos937 at 07:24 PM : May 29, 2008
This is the best explanation I have read in a long while. Price fixing is the name of the game. They can raise or lower the price per Barrel anyway they want and we suffer for their greed.
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Posted by ToolMangler at 08:15 PM : May 29, 2008
I agree, but I also bet they wont even get a slap on the wrist before someone greases their palms to get it swept under the carpet - Reply to this comment
- It doesn''t make anydifference how much they investigate, it won''t help. all the talk of the price per gallon of gas every where else, well we are not everywhere else, we are the USA, don''t forget that, why should we follow overseas pricing?
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- The five "sisters", the large oil firms, own a variety of firms that trade in the oil commodities markets. One trader may sell a bbl for $50 and that trader will then sell the same bbl for $60 and so on until the refinery needs it. The refinery pays the full cost of the bbl at the time it purcahses it. The raises in price as all artificial and adds no value to the product.
To me, this is the major cause of the price increases we have seen in the last few months.
Posted by ramos937 at 07:24 PM : May 29, 2008
This is the best explanation I have read in a long while. Price fixing is the name of the game. They can raise or lower the price per Barrel anyway they want and we suffer for their greed. - Reply to this comment
- This makes me laugh (or cry). Our government has aided and abetted the oil industry and the traders in energy since Bush/Cheney was elected, and now they claim shenanigans may be going on?...LOL
California almost went bankrupt due to Enron trading illegalities so that the GOP could oust the Dem governor Davis for Arnold Swartzenegger.
The system is corrupt and the GOP club is getting richer, and until we recognize and prosecute them (or behead them as the French did) and the *** that are behind it, nothing will change.
The GOP has changed from a party that promoted conservative fiscal policy that benefitted all, to a party of greedy corporatists that are willing to steal our country blind so that CEOs and others can make 9 digit retirements like Lee Raymond of Exxon. I''ll never ever vote GOP again.
http://abcnews.go.com/GMA/story?id=1841989 - Reply to this comment
