Are Oil Companies to blame for high fuel prices?

[DeepIron]

http://money.cnn.com/2008/05/05/news...ex.htm?cnn=yes

The article mostly discusses fuel reaching up to $5.00/gal in the near term. However, at the end of the article, 83% of those polled thought "Big Oil" was making too much profit.

What do you think? Are companies like Exxon or Chevron making big profit $$$ and driving up the price of fuel at the expense of consumers?

[AVGWarhawk]

Something funny going on here. For the most part we experience a gradual increase during the summer months and the a decrease during the winter months. But, not
a decrease to the point we had seen the previouse year. So it is a slow and steady climb. Now, we see nothing but price increase to the tune of .15 cents/gallon in the past two weeks. Does not seem like much and really it is not. At any rate, the oil people need to slack up. I believe they look at the profit as a safety net when the oil prices go up in the future. They can afford to purchase it and continue the vicious cycle.

[baggygreen]

We keep getting told that the price of fuel down under relates directly to the price in Singapore.

Fine.

The price in singapore goes up 5 cents, we go up 5 cents. it goes down 4 cents, we go down 2 cents.

there is an ever-increasing difference, people are giving up trying to predict fuel prices now and an inquiry into prices "failed to find any evidence of collusion". what a crock. blind man freddy could see it!

[CaptHawkeye]

Maybe it's about time people just put up with the fact that their really isn't enough to go around anymore?

[AVGWarhawk]

Originally Posted by CaptHawkeye

Maybe it's about time people just put up with the fact that their really isn't enough to go around anymore?

Yes, it is not a infinite thing, no doubt. Alternative fuels are needed. Somehow I see us going into the industrial age and returning back to the days of horse and buggy. Oh well, I always wanted to be a farmer anyway. Live off my own land. Just make sure I have electricity to run my computer and internet. I'm not asking for much

[Ducimus]

If fuel prices were going up to maintain the status quo on profit margins, i can understand that. HOWEVER, in this day and age when prices are going up, and they keep announcing record breaking profits, thats f'ing bullschitt, and the smell is coming from big oil.

Its Common sense, record making profits means overpriced product, because its obviously not costing you alot to produce that product!

They (big oil) also have the politicians in their pockets, so nothing will be done about it.

[JetSnake]

Originally Posted by CaptHawkeye

Maybe it's about time people just put up with the fact that their really isn't enough to go around anymore?

You are right. Because there aren't enough refineries in the US. The amount of oil in the ground isn't the issue. It is worldwide competition, not enough drilling, not enough refineries, not enough local production in our sphere, etc.

[PhantomLord]

Quoting the german magazine "Der Spiegel": "A prayer is the answer to all your problems!"

http://www.spiegel.de/wirtschaft/0,1518,551480,00.html

A religious group formed up in Washington. Daily prayers for lower fuel prices... they call it "prayer at the pump". :hmm:
They believe the fuel price will go down like the walls of jericho.... some day...

[McBeck]

Originally Posted by DeepIron

http://money.cnn.com/2008/05/05/news...ex.htm?cnn=yes

The article mostly discusses fuel reaching up to $5.00/gal in the near term.

We pay above 8$ pr gallon

[August]

Originally Posted by McBeck

We pay above 8$ pr gallon

Thank your lucky stars your country only has 16,000 sq miles, ours has over 3 million!

[Ducimus]

Originally Posted by August

Thank your lucky stars your country only has 16,000 sq miles, ours has over 3 million!

Europeans arent forced to commute like we are, therego they are incapable of understanding. Id like to see one commute every day accross the 91 Freeway, 35 miles to work, and back home again, 5 days a week, filling up at 4 dollars a gallon, going through a tank and a half of gas a week. Being forced to live that far because its the only affordable place to live. Then lets see if he changes his comment about "how americans think cheap gas is a god given right".

[Jimbuna]

There are a few million per day commuting into London alone. Some of them 200+ miles return per day....and paying over $10 per gallon.

[Fish]

Deleted.
Saw Aniuk's post to late.

Originally Posted by Ducimus

Europeans arent forced to commute like we are, therego they are incapable of understanding. Id like to see one commute every day accross the 91 Freeway, 35 miles to work, and back home again, 5 days a week, filling up at 4 dollars a gallon, going through a tank and a half of gas a week. Being forced to live that far because its the only affordable place to live. Then lets see if he changes his comment about "how americans think cheap gas is a god given right".

In the Netherlands more then 10$ per gallon, although a small country, a lot of commuters doing avg. 30 miles daily one way trip. profit of SHELL a dutch oil company went historically high in the first three months of 2008 (42% more net profit and now 6.75 billion dollars). Although it's a good thing to be prudent with using energy resources it is a difficult problem and as I do not think all americans think cheap gas is a god given right, it is a little bit off a simplification to generalize and say that we do not understand the problem, I think you underestimate the commuting or overestimate the possibilities of other means of transport. I personally did 60 miles daily per train (one way trip) for over a decade to come to my work. Not only because of the price of housing, but simply because there was no housing available and affordable for me and my family. Now I have a new posting and make over 60 miles by car, no public transport alternative available. Now I will try and sink some japanese oil tankers. Realising It wont solve the problem:rotfl: . but it's good for my subsim career. Greetings from an TMO fan.

[DeepIron]

I drive approx 14,000 miles/mo at an average of 5 mpg in my Freightliner XL.

14,000 miles / 5 mpg = 2800/gals per mo X $4.15/gal = $11,620.00/mo in fuel costs.

Ouch...