Lies about the high price of gas

[many a good man]

Everything they're saying is a lie.

There is no "rational" explanation for the volatility and high prices of crude in today's markets.

* NOT A SUPPLY PROBLEM: Peak oil isn't here yet; worldwide production is meeting supply. There's enough oil to go around for now. Refineries aren't sitting idle waiting for tankers to show up.

* NOT A REFINERY PROBLEM: There's no build-up of stocks laying around waiting to be refined; terminals are buzzing as usual. Why make a long term investment costing billions when domestic consumption is expected to flatten out due to future efficiency and conservation savings?

* NOT AN IRAQ PROBLEM: Its a good excuse for the jitters, but problems there have no significant impact on current global supply/demand.

Oil prices are set by traders working in five or six markets throughout the world. We have to ask THEM why prices are so high. There is something wrong with the trading system. There is something wrong with the market. The market is being manipulated. Why?

1) US deficits eroding value of the US$. Europe and Asia sell us things. Oil is sold in $$$. They use our $$$ to buy their oil. When the $$$ falls, so does profits for the oil producers. If they can't recycle their $$$ in the US markets the whole economy on three continents falls.

2) Big Oil knows Peak Oil is right around the corner. Gasoline is still relatively inexpensive-- especially compared to where it will be in 10-15 years. They're getting us ready for the future. They know their future profits will be greatly restrained by the consequent global slow down so they're getting it while the getting is still good.

3) Failure in Iraq is weakening US strategic position. Foes are getting stronger, allies abandoning us. Big Oil's great protector, the US military is exposing its limits. Possibility of future LOSSES is real so they need to stock up in case the shit storm starts spiraling out of control.


Its time to start bringing order and sanity to the markets before they destroy our economy even more than it already is. We need a Windfall Profits Tax to take away some of the incentive for gouging. We need to get our deficits under control. We need de-escalate tensions in Iraq and the Middle East.

We need a drastic change in course.

[getmeouttahere]

1. BushCo is giving them tax breaks, not raising their taxes...

you won't see anything like that until AT LEAST 2008.

[many a good man]

4. Outrage

Government of the oil tycoons, for the oil tycoons ...

This issue hits home for every American who has to stop by the filling station every week or so. It should be a powerful object-lesson.

Where are our leaders? I'd settle for a second class demogogue!

[jurassicpork]

2. But, but...

...an Arab sheik was startled by his own fart and gas prices shot up almost a quarter a gallon yesterday!

You mean that was a lie???????

JP
http://jurassicpork.blogspot.com

[Raster]

3. As I stated in an earlier post, we ARE BEING GOUGED!!! No Two ways

about it. The criminal oil companies are "getting while the getting is good," and bushco* is just paying back their ol' texas-white-boy petroleum mafia buddies. They all ought to be horsewhipped. They rail on and on about everyone else's patriotism, all the while selling the citizens of our country down the proverbial drain.

on edit: my earlier post

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=132&topic_id=2015214&mesg_id=2015214

[OneTwentyoNine]

5. As I stated in another post crude went down $3.00 per barrel today..

And gas prices held firm. It crude would have gone from $67 to $70 we'd had yet another .10-.15 price hike by noon.

Wonder how freepers like getting ripped off along with the rest of us? Stupid asses....

[wli]

6. good summary of the situation, but the remedy part is flawed

Those kinds of regulations depend on major political upheavals occurring (e.g. reestablishment of honest elections, ejection of the neocons from general control of the executive and/or Congress) that show no signs of being likely to happen regardless of changes of figurehead.

[many a good man]

7. Teachable moment

But where are the Teachers?

"They got the guns, but WE got the numbers."

You'd be surprised what a little democracy can do. They need our votes more than they need their money. If this were a democracy, at least.

We need to MAKE this country a democracy. Its only a democracy if the people take a seat at the table. We need a leader who will take our seat.

[formernaderite]

8. It's the same in Europe....except they pay double..

I think it's time for the legislators to look at shaving some money off the gas taxes. At least oil dropped a couple of bucks late today. On the other hand, I think high oil will make Americans rethink their lifestyle. Perhaps frugaility will make a comeback.

[EC]

9. They are Enroning us all... n/t