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For one basic reason: when the price of crude rises (even a little), it almost instantly affects the price that consumers pay. But when crude prices drop, it takes MUCH longer for them to drop, even a little. This makes no sense, other than some perverted form of capitalism.
They have every right to be greedy and/or engage in collusion. And I have every right to wish them ill for it.
I'm just confused when I read stock market updates or economic reports and it mentions the Dow is down, S&P 500 is down, cites these reasons why, negative economic stuff, blah blah, etc., then crude oil was also down. Why is the last one thrown into that?! For 99.99% of everyone, oil being down is a GOOD economic thing! Everyone celebrates! Nobody cares if it's down in a negative way, seriously, nobody. I don't know anyone who wants high oil prices. Airlines, hotels, consumers, online retailers, shipping companies, everyone who drives (so everyone, basically), we all want low oil prices. There are like 19 people who are bummed to read oil prices are down and they are owners of oil companies. And honestly, as you said, screw them, who cares what they want.
That form of capitalism is not perverted -- it is exactly the way capitalism is intended to work. The means of production is controlled by those who own it. They guard against their own risk of downturn, but are not so quick to mitigate movement in their favor until the market forces them to..
I understand the sentiment, but the greed of the oil companies has been well established since the first major oil crisis in the early 1970s. What do Americans do as soon as the price of oil drops? Buy the biggest gas guzzler the bank will lend them money for, of course. At this point, it's on us.
Compare where a gallon of gas comes from and how it gets here. Per unit measure, it is cheaper than the big slurpy fountain drink from the same vendor., which is water, sugar, and the stuff we exhale.
For one basic reason: when the price of crude rises (even a little), it almost instantly affects the price that consumers pay. But when crude prices drop, it takes MUCH longer for them to drop, even a little. This makes no sense, other than some perverted form of capitalism.
They have every right to be greedy and/or engage in collusion. And I have every right to wish them ill for it.
I've noticed the same exact thing and it blows my mind how rigged the prices are.
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
34,724 posts, read 58,067,115 times
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Quote:
Originally Posted by Electrician4you
So I’m assuming you’re going to stop buying fuel?
yes... in 1976
been using 'free fuel' ever since...
but... AMSOIL !!!!
They are still jacking up the 'feedstock' story... was paying $76 for 5 Gal HD Diesel 15w-40, Now $150+ There must be a LOT of barrels in Synthetic lube oil Feedstock,
You better hate dairy farmers too . A gallon of milk cost more than a gallon of gas and that comes from a farm upstate . Oil can come from some of the most inhospitable places on the planet and get shipped around the world with all kinds of processing and handling.
If the oil industry are price fixers they are the worst ever at it . That is why energy stocks even have to pay such big dividends to attract investors .most of them suck at growing investor money.
The inflation adjusted price of oil is likely one of the biggest bargains .
Last edited by mathjak107; 11-14-2018 at 02:16 AM..
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They have every right to be greedy and/or engage in collusion. And I have every right to wish them ill for it.
1. Unless you refrain from buying fuel, anything produced from.fuel, or anything transported by fuel you are JUST AS 'GUILTY' as the guy running a drill or driving a truck to feed his Family!!!!
2. I just picked up a 500 gal farm tank to store fuel in.
It's not only cheaper if you get it delivered (in bulk) but it will allow me to buy fuel "at the dips" and save money.
3. You are just as free to work in the capitalist market as I am.
Or you can complain about it while doing nothing....
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