Oil > $72

[Phlegm]

Oil went over $75 a barrel on Friday with no sign of going down.

[Diekan]

Then explain how they are making record profits from this. I'll bet all my goat points that they'll once again show record or near record profits this quarter (or next) as well.

If what I said if off base and it is a matter of having to increase prices to compensate for inflated price per barrel costs - then there's no way in hell they should be anywhere near record profits.

I'm not against making a profit. What I am against is being fed bullshit and charged an arm and leg for no other reason than opportunistic greed. We're not talking about ice cream where if you don't like the price you simply just don't buy. Fuel is a necessity. A requirement. There are certain "items" that do need to be tightly regulated. Fuel is one of them.

Capitalism is a great idea on paper, but it fails to account for human greed. Unchecked capitalism (aka the US) is again, as I said before, more deadly to our freedoms than any terrorist organization. Companies like Microsoft, Exxon, GE and so forth should have NEVER been allowed to grow to the size they are now. Why? Just take a hard look at the condition of this country. While I don’t lend much credence to the average American’s intellectual prowess (as I’ve said before), I don’t for a second think it’s all their / our fault. It will result in our inevitable downfall.

[Minrott]

$3 a gallon is akin to hostpitals charging $10 million dollars per emergency room visit. You need gas to survive in this world, just like you need emergency room care if you're bleeding out of your eyes. If gas goes above $5 a gallon, there are probably millions of people who simply won't be able to afford to drive to work. If you have trouble affording the daily commute, there's no way you can afford to move closer. There's no way you can afford a newer more efficient vehicle. It's a downward spiral into the poorhouse for many.

That said I'm trading my Super Duty in on Monday for a Focus. :\

[Harrison]

DON'T GET A FOCUS

They are major pieces of shit and fall apart.

(Yes, I know they are great on gas. But they are major pieces of shit...)

[Minrott]

That's fine. I'm buying new and it won't be my problem when it does, cause I'll have something else.

[Harrison]

Good plan

[DESX]

http://news.yahoo.com/s/afp/20060423/bs ... NlYwNmYw--

Kuwait proposes reactivating standby oil output to calm market 1 hour, 42 minutes ago



DOHA (AFP) - Kuwait's Oil Minister Sheikh Ahmed Fahd al-Sabah has said he would propose reactivating standby oil output of two million barrels per day, last activated in September, in order to calm frenzied markets.

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"When we have our consulting meeting, at least maybe we (will be) offering all our extra capacity to go back to the market as we had done in our meeting last year when we decided to send a signal to the market," he told reporters Saturday as he arrived in Doha for the 10th International Energy Forum.

"As Kuwait we support bringing the two million back to the market. Whenever there will be a call, the two million will be available."

The powerful 11-member OPEC cartel, which includes Kuwait, will hold informal talks Monday on the sidelines of the Doha conference after oil prices breached a record high of 75 dollars a barrel on Friday.

OPEC made the standby facility available last September in the aftermath of Hurricane Katrina that devastated the US Gulf coast and then suspended it in December.

[Phlegm]

From Associated Press:

WASHINGTON - The government should consider a tax on oil companies if they make excessive profits amid rising gasoline prices, a leading Republican senator said Sunday.

Pennsylvania Sen. Arlen Specter, chairman of the Senate Judiciary Committee, said a windfall profits tax, along with measures to stem concentration of market power among a few select oil companies, could offer eventual relief to consumers hurting at the gas pump.

"I believe that we have allowed too many companies to get together to reduce competition," Specter said.

"They get together, reduce the supply of oil, and that drives up prices," he said. "In the short run, it's hard to deal with it for tomorrow. But I think windfall profits, eliminating the antitrust exemption, considering the excessive concentration of power are all items we ought to be addressing."

Specter is backing legislation that would strengthen antitrust laws on oil company mergers after his committee held a hearing last month examining the growing consolidation of the oil industry. The nation's largest oil companies, including Exxon Mobil Corp., have denied their industry size has affected prices.

Last week, crude-oil prices hit record highs and average gasoline prices nationwide neared $3 a gallon.

Sen. Carl Levin, D-Mich., said he believes gas prices "would come down within a matter of days" if President Bush told oil companies that he was going to support a windfall profits tax.

"But the president will not call the oil companies into his office because he's been too closely allied with those oil companies, and if he does it's going to be a window-dressing conversation," said Levin, who appeared with Specter on CNN's "Late Edition."

[Lueyen]

From Associated Press:

WASHINGTON - The government should consider a tax on oil companies if they make excessive profits amid rising gasoline prices, a leading Republican senator said Sunday.

Pennsylvania Sen. Arlen Specter, chairman of the Senate Judiciary Committee, said a windfall profits tax, along with measures to stem concentration of market power among a few select oil companies, could offer eventual relief to consumers hurting at the gas pump.

"I believe that we have allowed too many companies to get together to reduce competition," Specter said.

"They get together, reduce the supply of oil, and that drives up prices," he said. "In the short run, it's hard to deal with it for tomorrow. But I think windfall profits, eliminating the antitrust exemption, considering the excessive concentration of power are all items we ought to be addressing."

Specter is backing legislation that would strengthen antitrust laws on oil company mergers after his committee held a hearing last month examining the growing consolidation of the oil industry. The nation's largest oil companies, including Exxon Mobil Corp., have denied their industry size has affected prices.

Last week, crude-oil prices hit record highs and average gasoline prices nationwide neared $3 a gallon.

Sen. Carl Levin, D-Mich., said he believes gas prices "would come down within a matter of days" if President Bush told oil companies that he was going to support a windfall profits tax.

"But the president will not call the oil companies into his office because he's been too closely allied with those oil companies, and if he does it's going to be a window-dressing conversation," said Levin, who appeared with Specter on CNN's "Late Edition."

Well this should be interesting, all the Bush haters claiming everyone else is duped, I wonder how many of them will be duped into believing the answer to this problem is for Bush to act in this manner, and then lay blame him if he doesn't.

[Narrock]

[Diekan]

It's not Bush's fault. BUT, companies should never be allowed to get as large as the big money companies of America.

Ok, let's say for a moment that yes, we're not being raped at the pumps by big oil just looking for another quarter to pocket record profits. Let's say it is an issue of supply and demand. Big money companies are STILL to blame. If India, China and other nations are now becoming power house energy consumers it's because big business has helped them with all the freaking outsourcing we've been seeing for decades. Do you think China would be 'who they are' now if it wasn't for big business selling out this country out by shipping our manufacturing jobs over there? Do you think India would be on the rise as they are now if it wasn't for our big tech companies sending our jobs to them? We send them our jobs, their economy starts to boom, they start using more and competing for more energy.

I fucking hate big business more than anything. I am NOT against making a profit, nor am I am against capitalism. What am against is uncheck capitalism that is left to its own device. Microsoft, Exxon, all of them should be broken up, period.

Fucking big business would have flown the planes into the Trade Centers themselves if they could have make a fat profit from it and gotten away with it.

Fucking greed is going to destroy this country from inside out. And those stupid fucking republicans AND democrats are sitting back and doing nothing - other than collecting a big fat check every election season.

[Jay]

It's not Bush's fault. BUT, companies should never be allowed to get as large as the big money companies of America.

Ok, let's say for a moment that yes, we're not being raped at the pumps by big oil just looking for another quarter to pocket record profits. Let's say it is an issue of supply and demand. Big money companies are STILL to blame. If India, China and other nations are now becoming power house energy consumers it's because big business has helped them with all the freaking outsourcing we've been seeing for decades. Do you think China would be 'who they are' now if it wasn't for big business selling out this country out by shipping our manufacturing jobs over there? Do you think India would be on the rise as they are now if it wasn't for our big tech companies sending our jobs to them? We send them our jobs, their economy starts to boom, they start using more and competing for more energy.

I fucking hate big business more than anything. I am NOT against making a profit, nor am I am against capitalism. What am against is uncheck capitalism that is left to its own device. Microsoft, Exxon, all of them should be broken up, period.

Fucking big business would have flown the planes into the Trade Centers themselves if they could have make a fat profit from it and gotten away with it.

Fucking greed is going to destroy this country from inside out. And those stupid fucking republicans AND democrats are sitting back and doing nothing - other than collecting a big fat check every election season.

So what's the solution? Pay Americans and lose money? I'm not criticizing your opinion I'm actually asking what you think the solution should be since I really don't know.

[Diekan]

I don't think most American's are looking at becoming millionares. I think by and large most people just want to live a relatively comfortable life. However, you can't do that when the average rent in most places is 800 bucks a month and a gallon of milk costs 3.00 dollars per.

Most people scream for higher wages because the cost of living is so freaking high. Not because they're striving to be the next Bill Gates.

If big business had their way we'd all be living in small cells and forced to work 16 hours a day under the threat of death.

I really don't know what the solution is. Other than breaking up big corporations and reducing the cost of living. Perhaps by imposing higher taxes on home owners who charge 1200 a month for rent on a place that isn't worth 600 a month.

Anyway, do you think Microsoft is really going to lose money by employing only Americans? They made plastic disks that cost a grand total of what? 50 cents each? And charge 200 bucks a pop... it's not about staying alive for them, it's about exploiting cheaper than dirt label to make the rich richer... period.

[Jay]

CD's cost a 6th of a penny to make. The research and development however...

[Lueyen]

I fucking hate big business more than anything. I am NOT against making a profit, nor am I am against capitalism. What am against is uncheck capitalism that is left to its own device. Microsoft, Exxon, all of them should be broken up, period.

I'm not saying you are completely wrong, but at the same time government break up of companies is an iffy proposal. Think of MA Bell, I question if it was a good or bad thing. Government in general has a pretty good knack for taking a good idea and making it fubar in the implementation.

And those stupid fucking republicans AND democrats are sitting back and doing nothing - other than collecting a big fat check every election season.

This more then anything else is why I'm so apprehensive about the idea of windfall taxes. Notice that there is one orginization that profits from fuel sales, who wouldn't take any loss due to windfall tax, who's profits you haven't seen reported all over the place, who have no real tangible cost relation to thier price... that would be government. Remember nearly 20 cents of that galon price at the pump is federal fuel tax. Now 20 cents isn't much right?... yet people will still go out of thier way to buy fuel for 2 or 3 cents less. Of course that 20 cents is only a small part of governments take, other business taxes, taxes related to transport of fuel, registration fees of the transport vehicles... yea Oil companies are making money on fuel sales.. but then so is the government. Imho government calling for a windfall tax because of the big bad oil companies is much the same as the pot calling the kettel black.