FTC investigating manipulation by oil companies

I love the way that conservatives ignore the actual facts of issues and make up their own "facts" to justify being corporate tools. As I stated in the OP, the FTC announced an INVESTIGATION into the possible manipulation of gas prices. This investigation is based upon the enormous increase in profits by the oil companies at the same time that they decreased refining capacity from over 90 per cent to 82 percent capacity. In normal markets, production increases when demand increases, whereas here the production decreased to maintain high profits. This suggests collaboration and manipulation of the market, not free market principles. That is why the investigation is taking place.

archer wrote: I post about what I read here....in the last couple weeks I have seen righties post that they don't much care how Walmart treats it's employees, or if small mom and pop stores fail in communities as long as they get their cheap Chinese goods......Walmart depends upon that greed and disdain for small business and low income employees to keep growing.......now I see where you don't much care if oil companies make ever growing profits at the expense of middle America.....


see a trend here? I do.

You are seeing what reinforces what you already believe.

neptunechimney wrote:

archer wrote: I post about what I read here....in the last couple weeks I have seen righties post that they don't much care how Walmart treats it's employees, or if small mom and pop stores fail in communities as long as they get their cheap Chinese goods......Walmart depends upon that greed and disdain for small business and low income employees to keep growing.......now I see where you don't much care if oil companies make ever growing profits at the expense of middle America.....


see a trend here? I do.

You are seeing what reinforces what you already believe.

What you righties post reinforces what I believe....

BearMtnHIB wrote: my priority as a consumer is in low cost products- I am not interested in bankrolling a Walmart employee's career opportunities.

You all have this strange adoration of corporations, almost a hero worship, and I don't see anywhere that you care much who a corporation hurts.....what destruction they do to this country (reference the big banks, insurance companies, and other financial institutions....and yes, oil companies) just as long as you get your cheap goods. But it can't be only that.....since gas is far from cheap....yet you will defend the oil companies right to charge whatever they want as their profits go up, up, up. And no, not all corporations are raising prices to cover the increase in cost of materials....many corps, like grocery chains and drug chains will absorb the increased cost of goods in order to keep prices low, or they will do minimal price increases....but not those benevalent oil companies....the second crude goes up......so does gasoline. Man have they got a good deal going, no economic pain for the oil companies, they haven't taken a hit by this economy, and the Republicans continue to adore them, and fight to keep the subsidies (since when does a company making increased profits need a subsidy?

Yeah, I see what I want to see? you guys make it easy for me with your fawning and gushing over your corporate gods.

What are all you liberals complaining about here?

You all got exactly what Obama wanted - higher oil prices. All the badmouthing, litlgation, drilling bans, and political speeches are now taking affect- America gets exactly what this government wants- higher energy prices. And yes PS has a point about it costing even more as the value of our dollar keeps falling like a rock!

On both counts- we can thank Obama.

Anyone remember this speech.......

Oil industry pans Obama's State of the Union address
By Andrew Restuccia - 01/25/11 10:20 PM ET

The oil industry was quick to pan president Obama's State of the Union Speech Tuesday night.

Obama, in his speech, will call for eliminating tax breaks for the oil industry. "We need to get behind this innovation. And to help pay for it, I’m asking Congress to eliminate the billions in taxpayer dollars we currently give to oil companies. I don’t know if you’ve noticed, but they’re doing just fine on their own. So instead of subsidizing yesterday’s energy, let’s invest in tomorrow’s,” Obama will say, according to prepared remarks of the speech provided by the White House.

The American Petroleum Institute, the country's most powerful oil industry trade association, is, perhaps predictably, not pleased with the speech.

"It's unfortunate that the administration seems poised to stifle what remains one of America's strongest job creating industries," API President Jack Gerard said in a statement.

Gerard said the speech was a "missed opportunity" for the president to call for increased oil and gas drilling.
http://thehill.com/blogs/e2-wire/677-e2-wire/140223-oil-industry-pans-obamas-state-of-the-union-address

You all should just shut up and pay- cause you voted for this! As soon as we see a business friendly government - we will see competitive energy prices again, not until then!

We didn't see "competitive energy prices" under Bush... We're not going to see anything except the prices OPEC wants us to pay...regardless of who is in the White House. The whole myth of "supply & demand" has been busted... It's a lie.

Go charge up your electric car on your solar panel LJ, and quit complaining now your getting what you voted for!

Does the name "Enron" ring a bell?

No, I got what OPEC voted for...and it doesn't matter who is in the White House....

BearMtnHIB wrote: You all should just shut up and pay- cause you voted for this! As soon as we see a business friendly government - we will see competitive energy prices again, not until then!

Wow, that's exactly, almost word-for-word what Rush "Buy My Tea" Limbaugh said on his radio show yesterday.

LadyJazzer wrote: We didn't see "competitive energy prices" under Bush... We're not going to see anything except the prices OPEC wants us to pay...regardless of who is in the White House. The whole myth of "supply & demand" has been busted... It's a lie.

What was the cost of a gallon of gas the day Bush left office again LJ? Under $2/gallon you say? Wow, that's almost half of what it is now when the cost of a barrel of crude is double what it was the day Obama was sworn in. Funny how that works, isn't it? The cost of the raw material doubles and so does the cost of the final product. Wow, what a coincidence..........

WayneH wrote:

BearMtnHIB wrote: You all should just shut up and pay- cause you voted for this! As soon as we see a business friendly government - we will see competitive energy prices again, not until then!

Wow, that's exactly, almost word-for-word what Rush "Buy My Tea" Limbaugh said on his radio show yesterday.

You can hear the surprise in *MY* voice.... :thumbsup:


The cost of the raw material doubles... Hmmmm, so since the President doesn't have any control over what OPEC charges, (unless, of course, you're Donald Trump, and you can over there and threaten them in person), then yes, the cost of the product will cost more, based on the price of the raw material...as controlled by OPEC.