Here we go again the old "oil refining capacity scam" so prices are expected to rise. I fell so sad for the poor oil companies who can't seem to have the capacity and production capability ..... until the prices go up. All of a sudden production does increase but then of course the "demand" is so high prices need to remain up.
The law of supply and demand is really intended in a free market economy but the market is never free when supply can be controlled by any business in collusion or with a monopoly. Honestly will the news people ever get a clue about what is happening. Oil companies should be expected to forecast demand and stockpile for the heavy use periods. The real question is have they already stockpiled the cheap oil purchased when the price was low and will sell at a high price feigning capacity problems.
If we are considering nationalizing the banks why not do the same with oil and gas products. They are a necessity for every family in this country and the unreasonable profits by Exxon/Mobile are a perfect example of redistribution of wealth in the toughest of times.
The law of supply and demand is really intended in a free market economy but the market is never free when supply can be controlled by any business in collusion or with a monopoly. Honestly will the news people ever get a clue about what is happening. Oil companies should be expected to forecast demand and stockpile for the heavy use periods. The real question is have they already stockpiled the cheap oil purchased when the price was low and will sell at a high price feigning capacity problems.
If we are considering nationalizing the banks why not do the same with oil and gas products. They are a necessity for every family in this country and the unreasonable profits by Exxon/Mobile are a perfect example of redistribution of wealth in the toughest of times.
"In hearings before Congress last year, oil executives outlined plans to increase fuel production by expanding their existing refineries. Those plans would add capacity of 1.6 million to 1.8 million barrels a day over the next five years, for an increase of 10 percent, according to the National Petrochemical & Refiners Association.
But those plans have since been winnowed to no more than 1 million barrels a day, according to the Energy Information Administration, an arm of the federal government."
How much of the current economic meltdown is caused by Oil Company practices of creating high demand either literally because of poor planning or scare tactics. Every time the oil companies hint of shortage, capacity, storms in the Gulf, war in the middle east do the speculators and oil companies drive the prices to new highs.
Bring on the lobbyists and their minions... more gridlock ahead and who needed that family vacation anyway.
Bring on the lobbyists and their minions... more gridlock ahead and who needed that family vacation anyway.
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