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Why is it that when oil prices go down, it takes weeks or months to translate to the pump. Yet when oil goes up, gas prices instanly go up.
Oil dropped nearly 20% over June/July and it took 6-8 weeks for the cost of gas to inch down 10%. Oil went up 10% last week, and this week gas at the pump is up 15%. Bageezzus this sucks!
What you class-warfare hatemongers call "greed" most of us recognize as simple self-interest, and it's not confined to some ficticious group of "idle rich" hiding out at dome country club in the fertile fields of your imagination.
Back during the 1970's, I kept the books for a service station which sold directly for one of the major national producers, as was the custom, but the operator had posession of his own inventory of gasoline. At the first sign of a price run-up, he would fill his tanks, then sell at a greater profit margin as the price continued to rise, all the time handing out the "it's the oil company's doing" line to his customers.
And any farmer with a 500-gallon tank on his farm can play the same game.
It's the man or woman in the street who has to take the leavings at the end of the supply chain, but how many "Ohhh-so-aesthetic" and safety-obsessed suburbs would allow their residents even a 100-gallon tank ... and even though oil heat uses similar technology???
What you class-warfare hatemongers call "greed" most of us recognize as simple self-interest,
"Smith's forthright talk of businessmen cheating and oppressing the public seems to stand in direct contradiction to his advocacy of self-interest as the sole principle necessary for the achievement of the public good. The saving grace was supposed to be the 'invisible hand' of competition. It was competition that would keep these instincts and 'expensive vanities' of the merchants, dealers, and landlords in line. . . . Smith had essentially (P. 83) overlooked the possibility that self-interest would work to undermine and eliminate competition and thus to tie up the invisible hand. It is this outcome of unrestrained self-interest that is the fundamental flaw in any absolute policy of laissez-faire."
Kenneth Lux, Adam Smith's Mistake: How a Moral Philosopher Invented Economics and Ended Morality (Boston: Shambhala Publications, Inc., 1990)
Why is it that when oil prices go down, it takes weeks or months to translate to the pump. Yet when oil goes up, gas prices instanly go up.
Oil dropped nearly 20% over June/July and it took 6-8 weeks for the cost of gas to inch down 10%. Oil went up 10% last week, and this week gas at the pump is up 15%. Bageezzus this sucks!
Why is it that when oil prices go down, it takes weeks or months to translate to the pump. Yet when oil goes up, gas prices instanly go up.
Oil dropped nearly 20% over June/July and it took 6-8 weeks for the cost of gas to inch down 10%. Oil went up 10% last week, and this week gas at the pump is up 15%. Bageezzus this sucks!
Because when oil p[rices drop the gas being delivered was made from oil that had cost more when it was bought. When crude prices go up, they raise the price of gas imediatly.
Why is it that when oil prices go down, it takes weeks or months to translate to the pump. Yet when oil goes up, gas prices instanly go up.
Oil dropped nearly 20% over June/July and it took 6-8 weeks for the cost of gas to inch down 10%. Oil went up 10% last week, and this week gas at the pump is up 15%. Bageezzus this sucks!
If you don't like it, don't give oil companies your business!
I wish tommorrow all the workers would stay home. We need an American worker revolution. Non bloody the first time
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