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If they are drilling/exploring more (like they say), and this is resulting in more oil for refining, then supplies should REALLY be up, and prices should REALLY be down. Not to mention calibrated timing of "refinery maintenance" during peak travel seasons. We're all being extorted. Plain and simple.
Actually, they say they would like to do much more. I can only speak from my personal experience, but up here in AK the oil companies have literally dozens of plans in the works to expand domestic US production. Problem is, every single stinking one of these plans is being blocked by either government obstruction, or court challenges from whacko enviro or NIMBY groups.
Quote:
Originally Posted by Johnny B. Fury
So yes, I do blame unabated extortion of the general public on the oil companies. Only the oil companies stand to profit more by doing less (ie. more drilling, exploration). We are seeing a prime example of this now..
As far as extortion, yes you are correct is happening now, it is called OPEC. They are a bunch of theives and use their control accordingly. Our domestic oil companies make more money on volume, so they have no incentive to block expansion of supply.
You want to know who has made a mess of the energy supply in this country, look to Washington DC.
I'm starting to understand supply and demand as it refers to oil. The greedy oil companies have the supply and they demand a lot.
Record drops in demand yet the price goes up.
It's all due to over consolidation which has eliminated most of the competition in the oil market. Break them up and actually enforce our anti-trust laws.
It's all due to over consolidation which has eliminated most of the competition in the oil market. Break them up and actually enforce our anti-trust laws.
Using the statement below, which is patently false, to make the statement above only highlights the obvious. The forces of supply and demand is an alien concept to you as well.
Quote:
I'm starting to understand supply and demand as it refers to oil. The greedy oil companies have the supply and they demand a lot.
Record drops in demand yet the price goes up.
Using the statement below, which is patently false, to make the statement above only highlights the obvious. The forces of supply and demand is an alien concept to you as well.
Demand is down. The last time I checked the oil companies were looking to increase storage capacity for the products that were not selling.
Prices of petroleum products, in the meantime,especially gasoline prices at the pump, are rising, quite rapidly, all out of proportion to prices of other consumer goods in the general economy.
Demand is going back up, supply is still low - Viola!! Price goes up.
See post #29.
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