Are oil companies really to blame for this soaring oil prices?
357277
The whole system...OPEC on down to Exxon... all-time record profits for any company ever are EXTREMELY SUSPICIOUS... regardless of the situation... and it usually points to violations of anti-trust laws... is there one... I don't know... but it's suspicious...
1110743
Could this be it? It was written on the right date and has the words "shortage" and "oil" in the title.\nhttp://www.businessweek.com/bwdaily/dnflash/apr2003/nf2003041_2516_db053.htm\nHope I've helped.
546009
It's all deregulation and Capitalism at it's finest. The oil companies are realigning into monopoly's again. This is a crime to fair competition; because there is no competition. This always happens with a majority Republican rule, it's their view on politics. There is no trickle down theory with forced inflation's on Americans.
1046750
when the oil companies are making BILLIONS in profit at our expense so that they can pay themselves millions in bonuses, I would say that yes, gas prices are a scam
142643
Oil companys aren't making trillions only billions that is why the price keeps going up
31992
Some people and news agencies argue that labor strikes, hurricane threats to oil platforms, fires and terrorist threats at refineries, and other general problems are responsible for the higher gas prices. Critics argue that these problems periodically push price higher, but that they are not fundamental or long term enough to cause the large jump in gas price. A more fundamental problem that some believe is causing the price to raise is the probability of peak oil already or soon to be reached. Not only is there a limited amount of fossil fuels which have been burnt as fuel, but however much remains will be used faster by a growing industrialized world population and what remains will be more dificult to get since the easiest wells have been tapped and the remaining sources will be fought over in resource wars.\n\nOthers believe that the price of oil is almost entirely speculative, and that the increase in price is due to oil speculation extending into the long term. These people argue that speculators foresee increasing demand, decreasing supply, or both, leading to a long term increase in the price of oil. If these speculators are wrong, current prices may actually be a price bubble, and the price could thus collapse. A July 14, 2005 Morgan Stanley report suggests that opinions of the oil market could burst just like a bubble if indications of declining Asian demand continue.
1129497
Yes, i agree. They did it for greed and oil. Haliburton makes billions a day because we went in. And They are buddied up with the Bush administration. It is sad how much power the big corporations have over our government.
449127
Dear Asker: Great question at least it makes me feel that people are alive and thinking. It gives hope. Oil companies are making huge profits out of our pockets.  Unfortunately, things don't look that good, what if Iran is attacked then where would the oil prices go?  It scares me.\n\nWe would be riding horses in the near future. Lets buy horses before there price go up and oil companies come into the business of selling horses.
1182403
While there are some subsidies for oil or service companies overseas, there aren't any here in the States.  In fact, a large reason the deficit shrunk last year was due to corperate taxes on oil companies.  That coupled with the 18 cent sales tax on gas generates huge revenues for the government.  It's true.
480529
The oil companies are greedy
561541
Try Reading the END OF OIL by Paul Roberts.\nIt'll run out a darn-sight sooner than we thought!\nOIL companies have/did lie about the amount of oil they have left.\nThe oil that is being pumped now has 2 go thru more refining than ever B4 & is down 2 the amount of Sea water they pump in 2 the fields.\nEverytime a alternative 2 oil is investigated the Oil companies surpress the data.  They R not going 2 give up on oil until every last drop has been extracted & no-one can predict exactly what affect this will have on the Planet. I'm sure that any warnings would proberly supressed by the oil companies 2.
690244
Gas prices are rising due to the rise in the price of crude oil.\n\nThe price of West Texas Light Crude rose to over $70 a barrel on the international market, although it has now fallen to $69.63. The price of Light Crude tends to be higher than other Crude Oil prices because it contains less sulphur. This reduces the refining costs involved with making petrol that conforms to the environmental standards in the US and Europe.\n\nAlthough OPEC and other Oil producing countries have increased production of oil, the demand is outstripping the supply.\n\nThe economy in China is growing fast and as the masses enjoy more disposable income, they buy cars which in turn require more oil.\n\nThe Indian economy is also getting stronger and they too are buying more oil.\n\nA further complication that adds to the demand is the lack of refineries. The efficient refineries are operating at almost full capacity which means that less efficient plants are being pressed into service. The problems in obtaining refined product places further pressure on demand side prices.\n\nOn the supply side, there are political uncertainties in a number of big oil producing countries. Such uncertainties cause problems within the supply chain and cause prices to increase.\n\nOPEC cannot produce enough extra oil to satisfy the extra demand.\n\nIn the past, Russia could be relied upon to pump extra oil. However, Russia is busily re-nationalising Oil Production (e.g. The recent Yukos case). This means that Oil production in Russia has fallen away from 2004 levels. Although Russia has huge reserves, it will be a while before production starts to grow again and so they cannot be relied upon to meet the extra demand. \n\nVenezuela is having a little spat with US Oil companies. Go Venezuela! Unfortunately, this is also effecting supply. \n\nNigeria, well is Nigeria. However, the locals are not happy with the way that oil companies operate and have taken to protesting over the way their land is being poluted. Local bandits and industrial unrest all combine to threaten oil supply.\n\nThen there is Iran which is in dispute with the west over Uranium enrichment.\n\nWhenever demand outstrips supply, speculators get involved. The US leads the way in commodity speculation. With continual upward pressure on the price of oil, speculators are having a field day.\n\nThe complication that the US has brought to speculation factor is the invention of 'virtual speculation'. These are speculators who speculate on the commodity speculators. This in turn causes prices to fluctuate more wildly and pushes prices even higher in a rising market or lower in a falling market.\n\nThe only way to improve the situation would be to either increase supply or reduce demand.\n\nIncreasing supply will take many years to be effective.\n\nTherefore the only way to reduce prices is to reduce demand. So, if everyone used less fuel the prices would fall.\n\nTime to dust off your old pedal cycle?
278954
"In today's complex global markets, the price of crude oil is set by movements on the three major international petroleum exchanges, all of which have their own Web sites featuring information about oil prices. They are the New York Mercantile Exchange (NYMEX, http://www.nymex.com), the International Petroleum Exchange in London (IPE, http://www.ipe.uk.com) and the Singapore International Monetary Exchange (SIMEX, http://www.simex.com.sg)."\n\n\n\nBasically the availability of oil as well as the cost of finding more are the main reasons for the pricing of crude oil. But there are a lot more factors that come into play when you start talking about gas prices which are connected directly to the cost of oil.\n\n\n\n"Global economic expansion is driving what the International Energy Agency says is the biggest increase in oil demand for 24 years.\n\nOil companies have tried to become more efficient in recent years and operate with lower stocks of crude oil. This means there is less of a cushion in the market against supply interruptions.\n\nThe combination of low stocks and Opec action to keep them low leaves the market exposed to the prospect of sudden price rises if supplies are threatened.\n\nThe world's major oil consumers remain dependent on the Middle East for their oil. Recent violence in Iraq and Saudi Arabia has again raised fears about an interruption to supplies.\n\nAnalysts also view political tension in non-Middle East states Nigeria and Venezuela as having the potential to disrupt exports and drive up world prices.\n\nLow US gasoline stocks and pressure on US refiners to increase production of new gasoline blends have also helped drive world crude oil prices."\n\n\nHope this is what you were looking for, please send me an email and I will elaborate more.
300409
...just some quotes...\n\nBP\nCommenting to the BBC on its own figures, BP chief executive Lord Browne said the company's profits had been "magnified enormously by the high price of oil, high refining margins, and high gas prices". "We of course first of all make most of our money in what I think most people would regard as the wholesale market - that is the production of oil and gas - not in the refining and sales of petrol and so forth," Lord Browne said. http://news.bbc.co.uk/1/hi/business/4688106.stm\n\nExxon Mobil, Shell Profits Soar as Oil Prices Surge to Record \nOct. 27 (Bloomberg) -- Exxon Mobil Corp., Royal Dutch Shell Plc and Marathon Oil Corp. posted record net income as demand growth and supply disruptions caused by Hurricanes Katrina and Rita lifted energy prices to unprecedented highs. Profit at Exxon Mobil, the world's biggest publicly traded oil producer, jumped 75 percent to an industry record of $9.92 billion, the company said today in a statement. The Hague-based Shell set the previous profit record about six hours earlier, when it said net income rose 68 percent to $9 billion.\nhttp://quote.bloomberg.com/apps/news?pid=10000006&sid=aaD5XaibDV48&refer=home\n\n...end of the quotes...\n\nPlease peruse the URL's to get the dates and maintain a true perspective.  Seems that when crude prices escalate and the oil companies have to charge more, they make even more...in otherwords they use the price hike as an excuse to overcharge us.  Of course we pay it.  There doesn't seem to be a better way to do this...If we federally regulate the oil prices then the supply will diminish. We will literally run out of gas.  If prices are regulated, the oil companies will only buy in quantities of which is still profitable leaving us with empty pumps like in the days of the gas shortages.  This is a free enterprise system and it just works that way.  If you want to be on the profit taking side instead of just the paying end, you are free to buy stock in the major oil companies as well.  \n\nWe are only victims in the system if we choose to be; not participating fully makes us a victim--participating empowers us.  It's like voting...if you don't vote you don't count.  Buy even a little stock in Exxon, Mobil, Shell, BP (just one share of even one of them) and see if your viewpoint doesn't change a little the next time you read news of crude prices rising or ethanol e-85 being adopted or automotive manufacturers moving towards hydrogen, etc.\n\nPlay the game.  Don't be a victim.
363841
China and India have drove the crude oil demand up.\nDemocraps and Environmental wackos have stymied oil exploration & refining.\nKatrina still has some of the gulf refineries not fully operational.\nEnviromental wackos have demanded numerous types of gasoline blends that add costs to the process.\nOPEC has not increased crude oil supply.\nThe federal and state gov'ts are getting 50 cents to 1 dollar tax on every gallon of gasoline.  \n\nAnd that's my 2 cents.
1090214
Buddy tell me who elected them ? we alllll. so its out mistake to believe in them. \nhere is a example to stop them if u r really serious ok. \n\ni got a mail  which mentioned a good point go through it.\nDear Friends !\n\nPetrol in Pakistan Rs17 per litr\nMalaysia Rs 18 per litr\nIn India it's 54 per litr ( the great indian bloody city bangalore)\nin common its around 50 in india.\n\nWhy this difference in Asia itself ? World Market CRUDE Oil is not the\nreason for this. It's all Gain for private owners? As we are the general\npublic, or Common Man as R.K.Laxman wud hv said, we have to raise our\nvoice, let's raise thru Emails.\n\nForward this to all Indians who care.\nIT HAS BEEN CALCULATED THAT IF EVERYONE DID NOT PURCHASE A DROP OF\nPETROL FOR ONE DAY AND ALL AT THE SAME TIME, THE OIL COMPANIES WOULD\nCHOKE ON THEIR STOCKPILES.\n\nAT THE SAME TIME IT WOULD HIT THE ENTIRE INDUSTRY WITH A NET LOSS OVER\n4.6 BILLION DOLLARS WHICH AFFECTS THE BOTTOM LINES OF THE OIL COMPANIES.\nTHEREFORE "THURSDAY SEPTEMBER 22nd " HAS BEEN FORMALLY DECLARED "STICK\nIT UP THEIR BEHIND " DAY AND THE PEOPLE OF THIS NATION SHOULD NOT BUY A\nSINGLE DROP OF PETROL THAT DAY.\n\n\nTHE ONLY WAY THIS CAN BE DONE IS IF YOU FORWARD THIS E-MAIL TO AS MANY\nPEOPLE AS YOU CAN AND AS QUICKLY AS YOU CAN TO GET THE WORD OUT. WAITING\nON THE GOVERNMENT TO STEP IN AND CONTROL THE PRICES IS NOT GOING TO\nHAPPEN. WHAT HAPPENED TO THE REDUCTION AND CONTROL IN PRICES THAT THE\nARAB NATIONS PROMISED TWO WEEKS AGO?\n\nREMEMBER ONE THING, NOT ONLY IS THE PRICE OF PETROL GOING UP BUT AT THE\nSAME TIME AIRLINES ARE FORCED TO RAISE THEIR PRICES, TRUCKING COMPANIES\nARE FORCED TO RAISE THEIR PRICES WHICH AFFECTS PRICES ON EVERYTHING THAT\nIS SHIPPED. THINGS LIKE FOOD, CLOTHING, BUILDING SUPPLIES MEDICAL\nSUPPLIES ETC. WHO PAYS IN THE END? WE DO!\n\n\nWE CAN MAKE A DIFFERENCE.IF THEY DON'T GET THE MESSAGE AFTER ONE DAY, WE\nWILL DO IT AGAIN AND AGAIN. SO DO YOUR PART AND SPREAD THE WORD. FORWARD\nTHIS EMAIL TO EVERYONE YOU KNOW. MARK YOUR CALENDARS AND MAKE SEPTEMBER\n22nd A DAY THAT THE CITIZENS SAY "ENOUGH IS ENOUGH"\n\nWe forward so many junk email to many of our friends, now let us do it\nfor some useful cause to cut down the price of the petrol .. ...\n\nREMEMBER : SEPTEMBER 22nd 2006\n\nPls "Think Of It ...............
525345
In part, gas prices are determined by supply and demand.  Prices are also determined by how much foreign oil is purchased and then passed on to consumers. \nPoliticians and oil companies would have us believe that these two are the primary reasons for the increase in fuel prices, but this is because most Americans do not really look very hard at facts surrounding them on a daily basis, or do not put them together. The 1950's had gas at around 22 cents a gallon.  Yet even with our greater technology, the much increased ease of production, transport, and refinement should have us keeping pace with prices still around $1.00, with the cost of exploration being one of the few legitimate reasons for increasing the prices...of course combined with the reasons previously mentioned.  But this is not the case.  \nWhen hurricane Katrina approached the coast, the price of gas rose over 10 cents a gallon - before - the hurricane had done any damage.  Afterward, when production resumed its normal levels, prices did not subside.  Instead they continued to rise.  The second hurricane did little or no damage, but prices rose again...in the same pattern.  For a dozen years or more, oil companies have followed a pattern of every six to eight months, raising prices until public outcry became strong enough, then when it was lowered ten or twelve cents the public sighed a great sigh; while not really paying attention to the fact that the price was still ten or fifteen cents higher than it was.  \nThe hurricanes, combined with the merger of giant oil companies into mega corporations have removed the checks and balances that healthy competition made in keeping oil prices down.  From 14 to 36 billion in profits, these oil companies answer to no one.  Their CEO's hide under the guise that no one can specifically point their finger at one of them and lay the blame, and our government cannot do anything to one and not the others, so nothing is done.  The oil companies state to the senators that their prices have increased slower than any other comodity.  Yet the simple reason behind this eludes our leaders...the reason...because the oil companies are the catalyst for the rise in every other price.  A farmer, with a tiny edge of profit, cannot afford to absorb the gas prices as they are, and so the prices snowball into every other thing linked to them.  So, why do prices rise?  Well, aside from the legitimate reasons mentioned in the beginning, it is because there is no one who tells them that they have to stop.