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Old 05-16-2007, 01:10 PM
 
Location: Tennessee/Michigan
28,965 posts, read 49,697,815 times
Reputation: 21024

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WASHINGTON (Reuters) - Oil companies are not overcharging motorists for gasoline, an industry group told Congress on Wednesday.

Consumers are paying record gasoline prices, currently at a national average of $3.10 a gallon, because of tight supplies and strong motor fuel demand.

The American Petroleum Institute told lawmakers its members were not to blame for high pump costs.

http://www.reuters.com/article/domes...20905020070516
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Old 05-16-2007, 01:18 PM
 
340 posts, read 696,008 times
Reputation: 150
Quote:
Originally Posted by John1960 View Post
WASHINGTON (Reuters) - Oil companies are not overcharging motorists for gasoline, an industry group told Congress on Wednesday.

Consumers are paying record gasoline prices, currently at a national average of $3.10 a gallon, because of tight supplies and strong motor fuel demand.

The American Petroleum Institute told lawmakers its members were not to blame for high pump costs.

http://www.reuters.com/article/domes...20905020070516
Don't buy it and you won't have to pay for it.. Gas is just like anything else you may have to pass on because it costs too much... If there is a strong market for a product, the price will increase...

Last edited by Dir Drill 1; 05-16-2007 at 01:40 PM..
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Old 05-16-2007, 01:41 PM
 
2,356 posts, read 2,861,591 times
Reputation: 864
I can believe that.

Oil prices are very closely related to its future availability - and right now the future doesn't look so great, with demand skyrocketing in China, India and Russia.
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Old 05-16-2007, 01:59 PM
 
4,406 posts, read 5,664,067 times
Reputation: 2898
Oil companies drill wells and then cap them. Individuals have reported this. Reason given to those who ask: to keep prices high by limiting supply.

The reason why no new refineries have been built is twofold. First, the oil companies want no part of environmental regulation. They consider it expensive and complain to the public about how they're suffering under the yoke of regulations. Second, building more refineries would increase production and lower prices. That would cut into profits.

Apart from their own greedy actions, the only reason why prices should go up is like anonymous wrote, that demand in China, India, and Russia is increasing.

Oh, and who killed the electric car?

I was never more outraged when Bush said we are 'addicted to oil'. Instead of placing blame on the industry that funded his presidential campaigns, he put it on everyone else! We are not addicted to oil, the oil companies have eliminated all the other alternatives. Would we love to use electric cars and solar powered vehicles? Of course, we would. It's not an addiction to oil that's the problem, it's the complete elimination of any alternatives by an industry that doesn't care about the environment and views everything through a lens of profit.
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Old 05-16-2007, 02:06 PM
 
Location: Sunny Phoenix Arizona...wishing for a beach.
4,299 posts, read 13,965,538 times
Reputation: 811
Quote:
Originally Posted by mhouse2001 View Post
Oil companies drill wells and then cap them. Individuals have reported this. Reason given to those who ask: to keep prices high by limiting supply.

The reason why no new refineries have been built is twofold. First, the oil companies want no part of environmental regulation. They consider it expensive and complain to the public about how they're suffering under the yoke of regulations. Second, building more refineries would increase production and lower prices. That would cut into profits.

Apart from their own greedy actions, the only reason why prices should go up is like anonymous wrote, that demand in China, India, and Russia is increasing.

Oh, and who killed the electric car?

I was never more outraged when Bush said we are 'addicted to oil'. Instead of placing blame on the industry that funded his presidential campaigns, he put it on everyone else! We are not addicted to oil, the oil companies have eliminated all the other alternatives. Would we love to use electric cars and solar powered vehicles? Of course, we would. It's not an addiction to oil that's the problem, it's the complete elimination of any alternatives by an industry that doesn't care about the environment and views everything through a lens of profit.

Maybe if the environmentist whackos would not worry about the mating habits of the Carabu or whatever it is, we could drill.
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Old 05-16-2007, 02:25 PM
 
340 posts, read 696,008 times
Reputation: 150
Quote:
Originally Posted by mhouse2001 View Post
Quote:
Oil companies drill wells and then cap them. Individuals have reported this. Reason given to those who ask: to keep prices high by limiting supply.
Who are these mystery people ???

Quote:
The reason why no new refineries have been built is twofold. First, the oil companies want no part of environmental regulation. They consider it expensive and complain to the public about how they're suffering under the yoke of regulations. Second, building more refineries would increase production and lower prices. That would cut into profits.
Where I live, the Local government would not let the Texaco refinery do a "Shutdown" to implement the new Title 5 emissions requirements, because it would cause a "Severe Shortage of Diesel" for California.. Although they would not allow the shutdown, the government still fined them $25,000 a day for "NOV's" (Notice of Violation) for emissions... Hmmmmm, Who wants to make money ???

Quote:
Apart from their own greedy actions, the only reason why prices should go up is like anonymous wrote, that demand in China, India, and Russia is increasing.
Demand is increasing at a rate never before seen, or sustained for this long, especially China.

Quote:
Oh, and who killed the electric car?
Who ??

Quote:
I was never more outraged when Bush said we are 'addicted to oil'. Instead of placing blame on the industry that funded his presidential campaigns, he put it on everyone else! We are not addicted to oil, the oil companies have eliminated all the other alternatives. Would we love to use electric cars and solar powered vehicles? Of course, we would. It's not an addiction to oil that's the problem, it's the complete elimination of any alternatives by an industry that doesn't care about the environment and views everything through a lens of profit.
It's the "Oil Industry" partner, not the "Electric Car" / "Alternative Fuel" industry... That is like asking the maker of cornflakes to research and fund an alternative cereal so you don't have to buy their's anymore !!!...
Who wants to put themselves out of business ???
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Old 05-16-2007, 02:36 PM
 
4,406 posts, read 5,664,067 times
Reputation: 2898
Quote:
Originally Posted by Dir Drill 1 View Post
It's the "Oil Industry" partner, not the "Electric Car" / "Alternative Fuel" industry... That is like asking the maker of cornflakes to research and fund an alternative cereal so you don't have to buy their's anymore !!!...
Who wants to put themselves out of business ???
Um, I don't understand this response at all.

Though I haven't yet seen the "Who Killed the Electric Car?" documentary, I suspect the oil industry would be a big contributor, bigger perhaps than the automotive industry. The automotive industry could simply manufacture electric cars (just like hybrids) so there's no threat to its market share. The oil companies on the other hand have the most to lose if alternatives arise.

I also didn't say the environmental regulations in practice weren't without some flaws, but for the most part, I do support the environment over business interests. You seem to be siding with the oil industry.
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Old 05-16-2007, 02:55 PM
 
340 posts, read 696,008 times
Reputation: 150
Quote:
Originally Posted by mhouse2001 View Post
Quote:
Um, I don't understand this response at all.
It is simple... The "Oil Industry" produces oil. They do not want, nor should they have to develop any alternatives to oil. If someone wants to develop an alternative, they have every right to... Do you expect them to do this for you ?? If so, why ???



Quote:
Though I haven't yet seen the "Who Killed the Electric Car?" documentary, I suspect the oil industry would be a big contributor, bigger perhaps than the automotive industry. The automotive industry could simply manufacture electric cars (just like hybrids) so there's no threat to its market share. The oil companies on the other hand have the most to lose if alternatives arise.
Maybe so... So what, are they breaking some law by not promoting electric cars ???

Quote:
I also didn't say the environmental regulations in practice weren't without some flaws, but for the most part, I do support the environment over business interests. You seem to be siding with the oil industry.
I side with being reasonable as far as the environment.... I want environmental protections for our country, but right now the controls are like everything else the government is involved in, some good, some bad, some to only enhance the revenue of the government... Nothing new here though...

And yes, I side with the oil companies ultimately, after all, I drill oil wells.... Also, Try going without the vast quantities of products that are made today using petroleum..... I'll send you a post card in your straw shack, and hopefully you will find plenty of water to drink and wild game to eat, because without petroleum and it's many uses, you would not have a home, car, water, or food to survive...
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Old 05-16-2007, 04:15 PM
 
13,625 posts, read 22,447,470 times
Reputation: 18458
Quote:
Originally Posted by John1960 View Post
WASHINGTON (Reuters) - Oil companies are not overcharging motorists for gasoline, an industry group told Congress on Wednesday.

Consumers are paying record gasoline prices, currently at a national average of $3.10 a gallon, because of tight supplies and strong motor fuel demand.

The American Petroleum Institute told lawmakers its members were not to blame for high pump costs.

http://www.reuters.com/article/domes...20905020070516
Thank you American Petroleum Institute. We assume that was a joke?
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Old 05-16-2007, 04:19 PM
 
Location: Maple Valley, WA
980 posts, read 3,081,407 times
Reputation: 423
My dad has been drilling (mostly offshore) for the last 30 years all over the world. Dir Drill 1 is right on. People see high prices at the pump and want to blame, but there's a much bigger picture.

The oil industry is a volatile one, and folks seem to forget that. They see fat cats with fat profits - they don't see the men and women who put themselves at a great risk to do their thankless jobs, and they don't understand the vast amount of expertise and resources it takes to make the engine run. They don't just up and build a rig; conception to production takes years, and it takes LOTS of money.
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