[Chris]

Originally Posted by cadenhead

Right.

Also that is profit NOT revinue. They made $26 billion AFTER they paid for new equipment, technology, legal fees, all their employees, power, etc.. $26 billion is just what they had left over.

While the average working family is living paycheck to paycheck and foreclosures are at an all-time high. Gasoline isn't a luxury, it's a neccessity, and the oil companies know that people can't go without it, so they can fuck us all they want and there's nothing that we can do about it but rely on George fucking Bush to ease the burden.

[Mastodon]

The Federal Trade Commission investigation into the price gouging found that the oil companies weren't doing anything illegal though.

[Chris]

Then may you gleefully pay $5/gallon+ for gas.

[noodles]

Originally Posted by Mastodon

The Federal Trade Commission investigation into the price gouging found that the oil companies weren't doing anything illegal though.

Wow. How can you live in one of the most liberal counties in the state, next to a town that absolutely despises every single Republican that ever stays at 1600 Penn Ave, and think that the FTC under the George W. Bush administration conducted a fair and balanced investigation of the oil industry? Are you serious? You actually believe this?

Go read up on Teddy Roosevelt, THE Republican president. When you understand what he accomplished with the coal industry, the railroad industry, and the food and drug industry, then you'll understand why something so critical to the daily operation of our country should be scrutinized just a little more closely than, say, the 7-11 up the street from your parent's house.

[Drew]

Originally Posted by Mastodon

I'm no economist but...isn't this just the law of supply and demand?

In fact I've always heard that if you take it into perspective, gas is less expensive now than it was 10 and 20 years ago.

Edit: So what if they made a profit? That's what businesses are supposed to do.

No, you're absolutely right, it actually just IS supply and demand.

Demand is more or less fixed, so the industry is artificially cutting the supply available to consumers, all the while hinting that the supply is even lower than it actually is. Percieved/actual scarcity with static demand = price increase.

Thing is, controlling the supply to artificially increase the price, especially done in conjunction with several other oil companies so that you can all boost profits, is just sort of an teeny tiny intsy wintsy bit illegal.

Perhaps the phrase "anti-trust" rings a bell?

[Benzesp]

Paid 3.09 today.... That was a first....... This just sucks no matter how you slice it. My Nissan Truck is a thirsty bitch! FUCK!

[metalfiend666]

Americans bitching about petrol prices.

Try living here. Our petrol only actually costs about 25p/litre. When I filled up yesterday, I paid 106p/litre. The extra 80p-ish of that is tax handed over to a governemt with no clue about easing congestion on our roads, and whose solution is to ramp up the tax on petrol at an astronomic rate until people are forced to use public transport.

Brilliant! Except public transport in the UK is woefully inadequate. It doesn't run often enough, it only runs to select locations and never where you really need it to and it's usually pretty scummy.

[Clydefrog]

Originally Posted by metalfiend666

Americans bitching about petrol prices.

Try living here. Our petrol only actually costs about 25p/litre. When I filled up yesterday, I paid 106p/litre. The extra 80p-ish of that is tax handed over to a governemt with no clue about easing congestion on our roads, and whose solution is to ramp up the tax on petrol at an astronomic rate until people are forced to use public transport.

Brilliant! Except public transport in the UK is woefully inadequate. It doesn't run often enough, it only runs to select locations and never where you really need it to and it's usually pretty scummy.

Try living in a country the size of the US before you say that, man. Driving is pretty much a requirement for much of the country at this point.

[Benzesp]

Originally Posted by Clydefrog

Try living in a country the size of the US before you say that, man. Driving is pretty much a requirement for much of the country at this point.

If you want to work, you pretty much have to have a car... Our public transprtation for the most part, sucks ballz.

[metalfiend666]

Originally Posted by Clydefrog

Try living in a country the size of the US before you say that, man. Driving is pretty much a requirement for much of the country at this point.

It's an absolute necessity here too dude, hence my post. Unless you live in a MAJOR city like London or Manchester, public transport is just unusable unless you like having a torturous journey that may not get you where you actually want to go and back again.

Our government has this notion that as people not having cars worked 50 years ago, it'll work today. Unfortunately, people now work a long way from home and all the shops have moved to large out of town retail parks.