Who's fooling who...
when the oil companies say it costs them a million dollars to shut down one oil platform in the Gulf and then another million to put it back into operation? And they have already shut down over a thousand because of Hurricane Rita. Do you think they'll lose this money? Of course not...we'll make it up for them by paying more at the pump.
Over sixty percent of our crude oil is imported and our refineries cannot refine enough to keep up with demand already. If this is true, why have one hundred and eight-some refineries shut down since 1988?
Personally, I think the oil companies are more adept at 'gaming' than the Casinos. The only difference is you don't have to gamble but most Americans have to drive to get to work, no matter how bad the oil companies gig them. The upper two percent, as usual, are laughing all the way to the bank, boardroom, or country club, laughing at how easily they can dupe the middle class.
Over sixty percent of our crude oil is imported and our refineries cannot refine enough to keep up with demand already. If this is true, why have one hundred and eight-some refineries shut down since 1988?
Personally, I think the oil companies are more adept at 'gaming' than the Casinos. The only difference is you don't have to gamble but most Americans have to drive to get to work, no matter how bad the oil companies gig them. The upper two percent, as usual, are laughing all the way to the bank, boardroom, or country club, laughing at how easily they can dupe the middle class.
posted by porchwise at 6:33 AM
7 Comments:
well, chit they duped me another 400,000 in this city I work in!
they even dupe us more since Rita is edging more closely to Lousiana....
...no doubt about it. I see a real recession coming (I would say down the pike, but who could afford the gas)...
I agree, the oil companies know we don't have a choice. And as for the rich in our country? they can afford to have things shipped into them. They don't have to drive themselves anywhere. most have helicopters that fly over the gas lines, watching the lower class sitting in line trying to fill their tanks.
I tihnk this is a reasonable hypothesis and should be researched more. You have the Saudi Ambassador saying earlier this week that he is surprised about the prices in the US and that the limitation is indeed the refining capacity. In fact he brought up that the Saudis wanted to build a refinery in Saudi Arabia to help with refining but US oil companies didnt want to do it.
Great blog. Two interesting points to ponder...
1) Why haven't new state-of-the-art refineries being built over the last 30 years? Because they cost the oil companies too much? That's a shame. I'm glad I can buy a book other places than Amazon.com or else they could charge an arm and a leg and blame it on a lack of warehouse space. laughable.
2) As adam mentioned, countries (other than Saudi Arabia) are begging to ship us refined fuel cheaper than what we can refine domestically. Why not accept the shipments?
Who wants cost to go down other than the meaningless nation as a whole? Who wants cost to go up other than the all powerful oil companies?
All I know is that someone is getting richer and it isn't me!
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