Big Oil did not manipulate U.S. gasoline prices: FTC

Discussion in '2007 Archive' started by Ps104_33, Sep 2, 2007.

Thread Status:
Not open for further replies.
  1. Ps104_33

    Ps104_33
    Expand Collapse
    New Member

    Joined:
    Sep 3, 2001
    Messages:
    4,005
    Likes Received:
    0
    WASHINGTON (Reuters) - Big oil companies did not conspire to raise U.S. gasoline prices last summer, as it was high crude oil costs and supply problems that caused the spike in pump prices, government investigators said on Thursday.
    The Federal Trade Commission said that about 75 percent of the rise in gasoline prices was due to a seasonal increase in summer driving, higher oil costs and more expensive ethanol that was blended into gasoline.
    The other 25 percent of the price increase stemmed from lower gasoline production as refiners moved to using ethanol as the main clean-burning fuel additive and lingering damage from hurricanes Katrina and Rita that reduced refining capacity.
    "Our targeted examination of major refinery outages revealed no evidence that refiners conspired to restrict supply or otherwise violated antitrust laws," the FTC said. "We therefore conclude that further investigation of the nationwide 2006 gasoline price spike is not warranted at this time."

    So there.:thumbs: I bet you didnt see this on the front page of any major newspapers.








    http://www.reuters.com/article/politicsNews/idUSN3043615720070830
     
    #1 Ps104_33, Sep 2, 2007
    Last edited by a moderator: Sep 2, 2007
  2. betterthanideserve

    betterthanideserve
    Expand Collapse
    New Member

    Joined:
    Aug 16, 2007
    Messages:
    319
    Likes Received:
    0




    Please don't beleive everything you read.
    I deliver gasoline for a living and have for the last 28 years,using ethanol actually saves oils companies a ton of money,it doesn't cost them any more,they get a tax break for each gallon that they use.

    I will agree that refineries are not able to produce all the gas that people want to burn as quickly as it is needed,but remember this,new fuel blends required by the EPA cause oil companies to have to do a change over just like the car companies,switching from 7.8 or lower RVP gas (Reid vapor pressure) to 9.0 RVP gas ,this has to dowith the rate that the gasoline evaporates,due to temp.and humidity(air pollution).

    They use this time for change as an opportunity to both confuse and MISLEAD PEOPLE,yes to increase profits! After all thats their job you know(Fiduciary responsibilty) to the stock holders.
    They really do not care how it effects the average consumer,the love of money is the root of all evil.

    Oh did I mention that just like I know this to be true,the so called main stream news agencies do also?
    What do you think their reason for keeping the nation in the dark may be?
    Might it be because the very news agencies,as well as the people that write and read the news to you have alot to gain by keeping you and others ignorant of the facts?
    You know?making more money without you being aware of the fact that you are being bled like a stuck pig?
    There is a Global agenda to bring america into the 21st century,the century that sees americans wealth depreciate,savings dwindle,and debt increase.
    After all the borrower is slave to the lender.
    In the meantime you see the stock market jump up and fall down,the press as well as the potus telling us that all is well ,unemployment is down,housing market has the highest forclosure rates in years,but pay no attention to it all is well.

    Continue to spend "like 9:11 never happened"
    I mean if you don't "THEY WIN"
    The truth is If you don't prepare your heart mind and soul to meet the LORD you lose!

    Now more than ever we need to be about the masters bussiness,calling the lost to repentance,and telling them how much JESUS loves them,so much that he gave his life for them on CALVARY>>>>>>>>>>>:jesus:
     
  3. Ps104_33

    Ps104_33
    Expand Collapse
    New Member

    Joined:
    Sep 3, 2001
    Messages:
    4,005
    Likes Received:
    0
    At $2.50 a gallon I think we are getting a bargain when you compare the price to the rest of the world. I cant complain. I am thankful. God is good:thumbs:
     
  4. carpro

    carpro
    Expand Collapse
    Well-Known Member

    Joined:
    Oct 14, 2004
    Messages:
    20,897
    Likes Received:
    294
    Does advice not to believe everything you read coming from a CT make sense to you?:smilewinkgrin:

    Struck me as funny.
     
    #4 carpro, Sep 6, 2007
    Last edited by a moderator: Sep 6, 2007
  5. betterthanideserve

    betterthanideserve
    Expand Collapse
    New Member

    Joined:
    Aug 16, 2007
    Messages:
    319
    Likes Received:
    0
     
  6. Carolina Baptist

    Carolina Baptist
    Expand Collapse
    Active Member

    Joined:
    Jul 28, 2003
    Messages:
    2,031
    Likes Received:
    1
    Let me see if I can remember last year.........

    "Big Oil" publicly claimed that they had to raise prices because of the losses during to Hurricane Katrina.
    Then "Big Oil" posted RECORD PROFITS for any quarter.

    It seems that someone is counting on the American short memory.
     
  7. KenH

    KenH
    Expand Collapse
    Active Member

    Joined:
    May 18, 2002
    Messages:
    32,485
    Likes Received:
    0
    The market raised prices after Hurricane Katrina in 2005. All one has to do is to keep up with the prices on the NYMEX and read the market commentary available on the Internet and in publications such as Oil Daily.

    No one has ever proven that "Big Oil" has manipulated oil or gasoline prices. Why? Because "Big Oil" hasn't. "Big Oil" controls very little of the oil market. Most oil is controlled by national oil companies in foreign countries.

    And most gasoline stations in these United States are not owned by "Big Oil".
     
  8. 2 Timothy2:1-4

    2 Timothy2:1-4
    Expand Collapse
    New Member

    Joined:
    Dec 22, 2006
    Messages:
    2,879
    Likes Received:
    0
    "Big Oil" profits 9 cents on the gallon. The government profits 40 cents. The real profiteers are the government and not the oil companies.
     
  9. betterthanideserve

    betterthanideserve
    Expand Collapse
    New Member

    Joined:
    Aug 16, 2007
    Messages:
    319
    Likes Received:
    0

    I thank you for your imput ,now would you care to back your statements up with a little evidence?

    Much of the stations in the US are owned by "BIG OIL"
    only the storefront itself is leased to an independent operator.
    The signs ,buildings,tanks and pumps are owned and controled by the oil companies.
    They even attempt to control the sales price,to be fair thre are some dealers that fight the oil companies,and sell their gas for a reasonable profit.
    It is against the law to sell gas for less than you paid for it,but to think that 9 cents is all that they make on a gallon is ridiculous!

    I know of many companies that are making over 20 cents per gallon profit,this is not to say that I beleive a co. is not intitled to profit,they are..
    But since when is having a monopoly alright?
    THEY DO HAVE A MONOPOLY, Try buying your gas from someone who is not a member of a petroleum organization,it will never happen,because it is an impossibility...
    Even an oil co. can't buy gas or oil for resale without out being a member of such a group!


    Heres a news flash for you How many oil companies in the US are owned by american companies?
    I haven't found one yet that is......

    Many of the socalled US oil companies are either owned by Arab ,Israeli,or South american Corporations.......


    Trust me when I tell you that things in this industry are not as they seem........they want you to remain in the dark!
     
  10. KenH

    KenH
    Expand Collapse
    Active Member

    Joined:
    May 18, 2002
    Messages:
    32,485
    Likes Received:
    0
    When times are good a retail gasoline station earns a net profit of $.03-.05/gallon.

    I've been in the oil business for over 29 years and my dad was in the oil business for 33 years before that. I know whereof I speak.
     
  11. billwald

    billwald
    Expand Collapse
    Banned

    Joined:
    Jun 28, 2000
    Messages:
    11,414
    Likes Received:
    0
    No one can tell be why gas retailers should charge less than customers are willing to pay.
     
  12. Ps104_33

    Ps104_33
    Expand Collapse
    New Member

    Joined:
    Sep 3, 2001
    Messages:
    4,005
    Likes Received:
    0
    That is a very good point, Bill. We never hear complaints about the price of cable TV, ice cream(which can cost 3-5 dollars a gallon) bottled water, beer, Disney World (71dollars a person now and still packing them in). Considering the fact that the same folks complaining about the price of gas are the same ones who constantly stop the building of new refineries and oil fields, and most of the imported oil comes from countries that hate our guts, I think that the oil companies have done a good job of keeping the price as low as possible. I think we are getting rock bottom prices.
     
  13. Carolina Baptist

    Carolina Baptist
    Expand Collapse
    Active Member

    Joined:
    Jul 28, 2003
    Messages:
    2,031
    Likes Received:
    1
    The last time I checked cable TV, ice cream, bottled water, beer, and Diseny World all fall in the catagory of luxury. But, in the American society, gasoline usage is not a choice. I can either burn about 3 gallons a day or I can be unemployed for the rest of my life. I also have to heat my home. Items that I buy at the grocery store have to be shipped.
    A monopoly of companies controll the price of petroleum based fuels and they are making record profits. The electric companies do a much better job of controlling costs because there are required to.

    We don't have the Highest prices but we don't have the "rock bottom" lowest prices either.
     
  14. KenH

    KenH
    Expand Collapse
    Active Member

    Joined:
    May 18, 2002
    Messages:
    32,485
    Likes Received:
    0
    Prove it.

    With oil prices at record prices then oil producers should be making record profits.
     
  15. TomVols

    TomVols
    Expand Collapse
    Administrator
    Administrator

    Joined:
    Oct 30, 2000
    Messages:
    11,170
    Likes Received:
    0
    Don't hold your breath waiting for proof. It's easier to repeat a bromide than it is to logically evaluate facts. :)
     
  16. Carolina Baptist

    Carolina Baptist
    Expand Collapse
    Active Member

    Joined:
    Jul 28, 2003
    Messages:
    2,031
    Likes Received:
    1
    We could discuss this from now on and neither of us would see the other side, and the government is on the side of the oil companies.
     
  17. KenH

    KenH
    Expand Collapse
    Active Member

    Joined:
    May 18, 2002
    Messages:
    32,485
    Likes Received:
    0
    In other words, you have no proof.
     
  18. ByGracethroughFaith

    ByGracethroughFaith
    Expand Collapse
    New Member

    Joined:
    Aug 11, 2007
    Messages:
    283
    Likes Received:
    0
    With not enough to go around, oil is rationed by price, period.

    It has been easy so far because we have been outbidding Central America, and many African nations who make 100-200 dollars per month (year in some cases). The price will really start to escalate though when it gets to me bidding against you for it. :)

    BGTF
     
  19. betterthanideserve

    betterthanideserve
    Expand Collapse
    New Member

    Joined:
    Aug 16, 2007
    Messages:
    319
    Likes Received:
    0


    Its funny that you should take such a posistion.
    Try refining your own gasoline,see how far you get,see how long it is before someone from the gov't is pounding on your door.
    It is a monopoly,they do control the pricing,although to do so openly is illegal(collusion) is what they call it.
    A few LARGE companies control the production of crude and sell it to a few more smaller companies who distribute it,oh! by the way they all belong to a group(oil distributors)and anyone who is not a part of the club can be fined or imprisoned if they attempt to go against the producers,wait (maybe it isn't) a monopoly....NOT!
    BIG BUSSINESS IS BIG MONEY .................And none of them really give two hoots if you have any money to afford what they have to sell,someone else will buy if you don't.......They think americas time has passed and have started to shift the money as well as jobs to other countries anyway............
     
  20. KenH

    KenH
    Expand Collapse
    Active Member

    Joined:
    May 18, 2002
    Messages:
    32,485
    Likes Received:
    0
    That is not true. There are hundreds of crude oil producing companies in these United States alone.
     
Thread Status:
Not open for further replies.

Share This Page

Loading...