If you can read this, either the style sheet didn't load or you have an older browser that doesn't support style sheets. Try clearing your browser cache and refreshing the page.

(Yahoo)   Senators accuse oil companies of gouging. Then the sky of being blue, and the sun of being bright   (news.yahoo.com) divider line 284
    More: Obvious  
•       •       •

6876 clicks; posted to Main » on 28 Sep 2005 at 3:37 AM   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



284 Comments   (+0 »)
   

Archived thread

First | « | 1 | 2 | 3 | 4 | 5 | 6 | » | Last | Show all
 
2005-09-28 06:55:22 AM
I still haven't seen the $5 a gallon gas price that Al Gore promised he would impose on us and Democrats were all giddy about. It's about half that.

gouging.
 
2005-09-28 06:56:01 AM
fluffy2097: Exxon mobil made 10 BILLION dollars in PROFIT last quarter. That is more money then any company has ever made in a single quarter.

Sounds like it's time for a flat tax.[/ducks] Everyone wins.
Whatever price they're charging, I know it's asking a lot, but don't lie to me. This is about the third time this "artificial shortage card" has been played, and it's getting real fcuking old.
In other news:
When we had the blackout here in NY a few years back, a filling station owner was arrested and ended up losing his station (Orange County), after jacking the prices up to $5 a gallon and pumping it out of the ground by hand. (And I laughed my fcuking ass off)
Claiming a shortage when there is not, seems awfully close to deceptive advertising to me.
It doesn't shock me a bit to see the "what the market will bear" crowd posting en masse. But then anymore here on Fark, it doesn't shock me to see that there are still Bushies about.
Seems you people just love lies. Not to mention the idea of profit, no matter who suffers. I hope that someday, some geneticist discovers the "scumbag chromosome", and eradicats it from our species.

The_Pole_Of_Justice: price gouging

n : pricing above the market when no alternative retailer is available


Having several individuals (read oil companies) working in collusion with one another, at different locales, to dramatically raise prices to profit off of others misfortune?
It's still price gouging.
I do heat and air. Let's say you call me at 3 AM with no heat, and you have babies. It's 5 degrees outside. You tell me noone else can get to you. I tell you I'm free, but I want $500 just to pull up in your drive. Am I price gouging? I mean hey, there ARE others that can do it for you.
And should we charge you a markup on the gas we burn?

/cringes at the thought of people who will probably freeze to death this winter.
 
2005-09-28 06:57:56 AM
"you effect many different sectors of the economy"

Translation: "This H2 ain't gonna fill itself"
 
2005-09-28 06:59:29 AM
The_Pole_Of_Justice
Sorry. Just went back and reread your post. Seems we agree.

/Nevermind.
 
2005-09-28 07:02:20 AM
The House, Senate, and Whitehouse will not permit anything to happen to the Oil Companies.... this is a priority for BushCo.

9/11 - BushCo gets Rich
Iraq WMDs - BushCo gets Rich
Oil "shortage" - BushCo gets Rich
Rebuild Gulf Region - BushCo gets Rich

I mean, look at these Katrina hearings... the President said he will lead the effort to find out what went RIGHT... wtf... how about what went wrong!

This is not even an Idependent investigation... the Dems have no official participation or voting rights.... So, the result is BushCo gets Rich, and we are supposed to trust BushCo investigating this?

The conclusion will be that there was some money they didn't loot. Brownie, you are doing a heck of a job! *hic*
 
2005-09-28 07:08:07 AM
Since I don't play the stock market, maybe someone can answer this.
Can someone find out how much stock in a specific company is owned by an individual? Oh, let's say Halliburton. If so, how?

/curious
 
2005-09-28 07:10:21 AM
Noam Chimpsky said,

"I still haven't seen the $5 a gallon gas price that Al Gore promised he would impose on us and Democrats were all giddy about. It's about half that."

I'm sure you have a credible link to back that up, right Chimpsky? I mean, it's not like you've ever told a lie here to further your "liberal" political leanings before.
 
2005-09-28 07:10:31 AM
You dolts look at one level of abstraction and you think you're economists. It's impressive, you cite idiotic market capitalism slogans better then the pledge of allegiance I'd wager.

If you need something simple to wrap your head around: Energy is a closed system with what amounts to price fixing by a few major companies. It's an essential resource that is integral to all economies, this year alone was the largest single quarter profit by any company at any time in history. This is in a time of what would be considered crisis for that specific industry.

Scales falling from your eyes yet?
 
2005-09-28 07:15:25 AM
sadly, a GIS for "lesbian sex nazis" provides nothing.
 
2005-09-28 07:16:48 AM
roughmarble: lesbian sex nazis

Does that qualify as a Godwin?
 
2005-09-28 07:19:48 AM
Right, the "evil big guys" are all in cohoots. Let's not let facts get in the way of rampant emotions and ignore the fact that there have been Senate hearing on gas pricing in 2000, 2001, 2002, 2004 (without any evidence of wrongdoing) and this year, when average prices broke the $3.00 mark, they (of course all fat, filthy rich white balding men) met in secret to fix the prices.

/can't be sarcastic enough
 
2005-09-28 07:24:35 AM
Andrew sez: No, we aren't expecting you to follow anyone. However, we expect people to be educated. Economics is something very few people know a lot about. That is why it is stupid to rant and rave about something you have a little clue.

Oh, if it was so simple. If you read the article, it mentioned that Exxon ordered gas stations to raise prices. That's not economics -- that's called GREED.
 
2005-09-28 07:25:47 AM
How far would you go for 100 billion dollars... if you could get 100 billion dollars, what would you do? I am seriously, think about it... then ask, it is hard to believe that BushCo is up to no good and destroying America for 100 Billion in profit.. money in their pocket!

think about it...

Tax Cuts for the rich
Revoke death tax
Create destruction and rebuild for a profit
Revoke mininum wage
Privatize everything, then cash in on the profits

Is it any wonder?
 
2005-09-28 07:26:39 AM
RandomExcess

It's not even an argument at this point. It's so easy for everyone to see and yet people will defend their president to the death because they are mindless sheep.

I consider myself pretty independant. I was a Republican through the 90s, voted for Dole in 96', heck I even voted for Bush in 00' (please, stop laughing/crying). Of course it didn't take much to realize how bad this new president was when everything started to go to hell, the economy was in the toilet, we started a war for no reason, the man was a moron and a liar, there was so much political corruption he made Boss Tweed look like Jesus.

I still cannot fathom how anyone can support this man other than 'moral values' and most likely anyone supporting him on this issue is obviously brainwashed, retarded, or both. Anyone who has a modicum of intelligence should realize that the 'market forces' they discuss and use as a defense of tax cuts and oil gouging do not consist of no big contracts to the VP's friends, that oil companies - of which it is VERY well known that Bush and Bush Sr. have a massive relationship with Saudi Oil barons - are reaping billions, and that these 'tax cuts' are forcing us to borrow TRILLIONS from foreign countries (like Saudi Arabia) to pay for a spending spree for the military to invade Iraq (which was a lie, and would not surprise me in the least if the Bush Administration leaned on the CIA to present evidence of WMDs, even though no one has ever bothered to investigate this).

This is a rape and pillage operation by the highest office in the land. If it were any other country, this guy would be gone, probably arrested, for the corruption. And yet, somehow he's untouchable? WTF!!

This guy and his people have no moral center. They are driven by greed and corrupted by power. A man of God would not start a war with another country to fund his friends at the expense of American lives. He would not take our freedoms such as the right to a trial, the freedom to assembly, to free speech away, he would not ignore the Geneva conventions or bankrupt our country for the interests of a few friends. Let's call this administration what it really is: a military regime.
 
2005-09-28 07:27:53 AM
Spazzmatazz: Does that qualify as a Godwin?

No, I believe for a Godwin the nazi has to be used to relate the topic to nazis. Example:

"Big Oil is to the poor as the Nazis were to the Jews"

/Appoligies all around.
 
2005-09-28 07:28:26 AM
Jeezus!
Cut the oil companies a break!
Can't you see they're on the ropes?
These are tough times for all of us.
Gas gettin' is hard work!
 
2005-09-28 07:32:06 AM
Unintended consequences...

Gas prices stay high, people move back to those evil liberal cities and do mass transit.
 
2005-09-28 07:45:09 AM
Now the twenty minute break while everyone drive in their cars to work. All the while thinking of the money that they are just giving to the oil companies. Should be fun in here soon.
 
2005-09-28 07:48:06 AM
RandomExcess

How far would you go for 100 billion dollars...
Who's the greedy one?

think about it...
Something you obviously haven't bothered with...

Tax Cuts for the rich
With the top 5% paying approximately 50%, I find it hard to knock this one.

Revoke death tax
So people aren't taxed again on property that has already been taxed...

Create destruction and rebuild for a profit
LOL You've watched too many movies with evil madmen plotting to take over the world who can control the weather.

Revoke mininum wage
You raise minimum wage and everything else goes up.

Privatize everything, then cash in on the profits
Last time I checked, unions still exist (though why, I'm not sure). And who is pocketing the cash?

Is it any wonder?
That people like yourself blather about appearing foolish and proving ignorance? No.
 
2005-09-28 07:56:15 AM
LMAO@Sparhawk

I hope all the gas stations in your area raise their prices to $10 per gallon.
 
2005-09-28 07:57:38 AM
An obvious attempt to score partisan points that depends on the ignorance of the voters about economics. I guess that is how John Kerry ran his entire campaign.
 
2005-09-28 07:58:14 AM
Tango and cash said: Revoke death tax
So people aren't taxed again on property that has already been taxed...

Very weak argument. You are taxed twice every day of your life. You are taxed on your paycheck and you are taxed again when you buy most products. But you know, it sounds like a truism. "Wah, they are taxing me twice . . ."

/And as for the top 1%, oh wait its changed, the top 5% paying 50% of our taxes. I would love to see the research.
 
2005-09-28 07:59:05 AM
By raising their prices, they risk losing their loyal customer base, which has taken them years to build.

I didn't know gas stations had loyal customers. Hell, people will drive out of their way just to save two cents on a gallon of regular unleaded. If even the stores attached to gas stations start talking about how bad you are price gouging customers, you know you are farked.
 
2005-09-28 07:59:51 AM
e4tango

I can do the same thing to your words:

Who's the greedy one?
Character attack. Way to debate.

Something you obviously haven't bothered with...
Insult. Good job so far. You're debate skills so far are on par with a four year old.

With the top 5% paying approximately 50%, I find it hard to knock this one.
Invalid point. Let's see, top 1% (excluding the other 4%) own 47% of all stocks and bonds in the whole country, which is pretty much the bread and butter of all wealth. So yes, they should be paying about 50%.

So people aren't taxed again on property that has already been taxed...
It's not a death tax, stupid. It's an income tax on the people who receive the money. If someone gives you 10 million dollars in a lottery, you pay about 40% in taxes on the winnings. Same rule applies. Repealing estate tax = setting up fiefdoms in a country based on capitalism. Think for yourself for a moment.

LOL You've watched too many movies with evil madmen plotting to take over the world who can control the weather.

Umm, he said nothing about some supernatural weather controller. The information about the war is right there in broad daylight.

You raise minimum wage and everything else goes up.
FUD, and bullshiat. Most states mandate higher than the current min wage, and people are paying above minimum wage anyway, try living on less than 6 bucks an hour, asshole.

Last time I checked, unions still exist (though why, I'm not sure). And who is pocketing the cash?
Your only valid point. Unions are just about as corrupt, but not more corrupt, than our current administration. In any case, he wasn't speaking of unions. The world could do with better, less corrupt unions to protect the interest of the people.

That people like yourself blather about appearing foolish and proving ignorance? No.
Conclude with an attack on character.

It's pretty obvious who's being ignorant.
 
2005-09-28 08:01:16 AM
Oh no, its Major Thomb, Champion and Protector of Oppressed Mega-Corporations everywhere. My only . . . defense . . .are my stock portfolios . . . Noooooo!
 
2005-09-28 08:05:36 AM
Paschal:

/And as for the top 1%, oh wait its changed, the top 5% paying 50% of our taxes. I would love to see the research.


He is right. Clicky (pops)

Scroll down to Total Income Tax Shares (percentage of federal income tax collections paid by each group).
 
2005-09-28 08:05:42 AM
You raise minimum wage and everything else goes up.

Maybe.

You raise gas prices and everything else goes up.

Definitely.
 
2005-09-28 08:09:58 AM
Tinbomb

Thank you. It appears valid.
 
2005-09-28 08:10:45 AM
Whoops, Timbomb.
 
P0L
2005-09-28 08:16:17 AM
stop whinning...

I live in Uruguay.
Gas costs 5.35U$ a gallon.

Most people here have to LIVE on a 300U$ salary.

I'm lucky I can make between 400$ and 800$ as an ENGINEER

I just CAN'T figure HOW gasoline at 3.00 a gallon is EXPENSIVE
it hasn't been that cheap here since you morons started a war.
 
2005-09-28 08:17:36 AM
P0L:

I just CAN'T figure HOW gasoline at 3.00 a gallon is EXPENSIVE
it hasn't been that cheap here since you morons started a war.


Then move... or STFU & GBTW.
 
2005-09-28 08:21:16 AM
damitjim

ahhh americans always have the most intelligent responses.
 
2005-09-28 08:26:50 AM
I can't figure out why anyone (except oil company executives and large stock holders of oil companies) would stand up and defend the huge price spike in gas prices in the last couple of years, and HUGE profits for these companies associated with it.

Do you realize these profits are coming out of our pockets?
 
2005-09-28 08:27:14 AM
e4tango posted in response to RandomExcess

How far would you go for 100 billion dollars...
Who's the greedy one?

Ooo, ooo, I know this one, the oil companies?


think about it...

Something you obviously haven't bothered with...

This isn't a case of the pot calling out the kettle, this is a rare instance of the pot screaming at the wind. You don't get a lot of that here. Oh wait, yes we do, don't we?


Tax Cuts for the rich

With the top 5% paying approximately 50%, I find it hard to knock this one.

You mean the top 5% of the population that control 20% of the entire wealth of the country? Funny, Bill Gates alone controls more wealth than the entire bottom 40% of the country.

Them facts really get in the way of your argument, don't they?

Revoke death tax
So people aren't taxed again on property that has already been taxed...

You mean the people who are about to get the money don't get taxed on it? Is that like free money? They certainly didn't pay taxes in the money, why should they be exempt?


Create destruction and rebuild for a profit

LOL You've watched too many movies with evil madmen plotting to take over the world who can control the weather.

Right, I keep forgetting, we're doing this out of the kindness of our hearts so we can liberate the Iraqis so they can elect a Sharia based government to oppress them. It will be way better than that last guy we put in power.

Revoke minimum wage
You raise minimum wage and everything else goes up.

Everything? You mean like price of gas. Thank God we won't have to worry about that. Of course, completely left out of your simplistic equation is the fact that minimum wage people spend all of their money, pumping it back into the economy. There is also evidence that when people are desperate they don't commit crimes, you know, to eat.

Privatize everything, then cash in on the profits
Last time I checked, unions still exist (though why, I'm not sure). And who is pocketing the cash?

Oh, I forgot about the boogeyman! Damn those bastards trying to make sure people earn enough money to own a home, buy a car and send their kids to college. What friggin' nerve they have, hating America like Rush Limbaugh says they do.

Is it any wonder?
That people like yourself blather about appearing foolish and proving ignorance? No.

Thanks for providing a lucid and well documented argument for all of the points you raised. I believe you have done an excellent job showing every American how a proper debate should be mounted. You and your parents must be very, very proud.

Special appreciation award for the best Judging a Book by its Cover goes to whodatbeez because we all know that the best candidate to run our government are people who look like Jessica Simpson but more importantly have here intellect! Takes one to know one!
 
2005-09-28 08:28:06 AM
Paschal: Timbomb

Thank you. It appears valid.


Your welcome, still don't agree with e4tango on other points but I have a feeling that others will counter.

To the point, I don't think that this is an accurate measurement of wealth because it is just AGI. AGI is adjusted gross income. It is not your gross income, which would be a better measure. I think this does not include retirement savings and other adjustments.
 
2005-09-28 08:30:22 AM
kaikara: ahhh americans always have the most intelligent responses.

This is fark dumbass Canuck... and it's a fark cliche. Obviously you haven't been here too long.
 
2005-09-28 08:31:40 AM
2005-09-28 07:56:15 AM gradatim

I hope all the gas stations in your area raise their prices to $10 per gallon.

So do I, since I barely drive at all and take public transport everywhere. $10 might be a little high, but certainly $6-$7 wouldn't be out of line. The higher prices are, the more incentive there will be to move to alternatives. We as a society desperately need to be finding alternatives to gasoline now, before the supply dries up any more than it already has.

You think prices are high now? Wait until demand goes up another 10% while supplies have depleted by 5-10% (and a permanent decline, not this temporary hurricane-inspired production hit). Then supply declines another 5%. And another 2% after that. And 3% again. $5+/gallon gas is coming, no matter what you or I say or do, so getting ready for it is better than pissing away opportunities to do so.
 
2005-09-28 08:35:37 AM
The senators are complaining? Sounds like Fark to me. We whine like babies but do nothing.

I expect nothing will be done, and I know I won't be disappointed.

/both these parties are owned by oil
 
2005-09-28 08:35:52 AM
Sparhawk - Please try to read a different book. Expand yourself a bit. Tool.
 
2005-09-28 08:37:48 AM
Spazzmatazz

As to how to find out who company shareholders are, it probably won't be available in gorgeous detail on the company website, but if you start looking around for company filings (eg the SEC dot gov website) you might find something.

For Halliburton though, I'd imagine their shareholder listings are guarded by two quite large three-headed dogs.
 
2005-09-28 08:39:36 AM
For the record it is probably correct that the top 5% pay more than 50% of the taxes in the country. However it is also correct that the top 5% own more than 50% of all the wealth in the country. So the amount is pretty accurate. Yes, they do generally pay higher taxes, however many very wealthy people use tax laws and pay tax lawyers lots of money to hide that money in things such as trust funds and other loopholes. People in the top 5% of income in this country are not poor, they are not needy, and they are in good shape. People who want to keep all their money are simply greedy and do not understand that being part of modern civilization means paying taxes. Those that do not want to pay any tax to the US are welcome to move to another frickin country.

It is not a myth that the middle class is shrinking, that poverty is on the rise. Trickle down economics does not work. Neither do shoddy formulas about those poor wealthy people and their poor million dollar mansions.
 
2005-09-28 08:44:13 AM
bdub77:

People in the top 5% of income in this country are not poor, they are not needy, and they are in good shape.

That is the dumbest thing I've seen today, but the day is young.
 
2005-09-28 08:46:27 AM
So do I, since I barely drive at all and take public transport everywhere.

It affects a lot more than you. You buy groceries, right? The majority of groceries are shipped in by truck. You inflate gas prices, you inflate the price of that apple. Now you can't spend as much on new clothes or a new washer/dryer or that TV set, because you are paying more just to eat. The clothes manufacturers also have to raise prices, but less people are buying, so they fire people. You worked at the Gap, now you're out of a job. It's called stagflation. It will happen very soon, I promise.
 
2005-09-28 08:47:18 AM
That is the dumbest thing I've seen today, but the day is young.

Obviously you aren't reading your own posts.
 
2005-09-28 08:50:10 AM
damitjim

Nope haven't been in the comments that much and by the quality of the posts probably won't be spending that much time here.
 
2005-09-28 08:52:15 AM
damitjim, do you have anything constructive to add? We would all like to play the bully on the playground, but unfortunately most of us are adults. "I know what you are, but what am I?". Take a few deep breaths, maybe a couple of Valiums, and you might be able to think like a rational human being.

/mouth breather. Its okay. Its a fark cliche.
 
2005-09-28 08:53:31 AM
Speaking of tools, zippythechimp said, (without any supporting information)

"Sparhawk - Please try to read a different book. Expand yourself a bit. Tool."


Please feel free to link us to one of these books you have recently read. I expect we'll all be waiting for that link for a while.

So, is it your "learned" opinion that oil prices will not go up? Perhaps, your point is that supply won't ever be depleted. You did such an outstanding job eloquently laying out your argument that many of us would love to see how you came to that conclusion. You know, before we chalk it up to you getting all of your talking points from AM radio.
 
2005-09-28 08:54:19 AM
<sarcasm>But I saw a statement from the oil company dudes last week that said they aren't gouging.</sarcasm>
 
2005-09-28 08:55:04 AM
bdub77:

. People in the top 5% of income in this country are not poor, they are not needy, and they are in good shape.

People in the top 5% in ANY country are not needy, that's part of being in the top 5%. Does no one see the stupidity in that statement? Maybe the DUH factor hasn't kicked in?

Paschal: damitjim, do you have anything constructive to add?

Well, I could sit here and make stuff up until people prove me wrong with facts, but I'll leave that to you. You've done well so far.
 
2005-09-28 08:55:54 AM
2005-09-28 08:46:27 AM bdub77

It affects a lot more than you. You buy groceries, right? The majority of groceries are shipped in by truck. You inflate gas prices, you inflate the price of that apple. Now you can't spend as much on new clothes or a new washer/dryer or that TV set, because you are paying more just to eat. The clothes manufacturers also have to raise prices, but less people are buying, so they fire people. You worked at the Gap, now you're out of a job. It's called stagflation. It will happen very soon, I promise.

I'm painfully aware of all of this, but my opinion is that this stuff is going to happen regardless of anything I do. If high prices happen now, with a smoother depletion curve we might be able to adapt to high prices and put alternatives in place, despite short term economic pain.

If prices stay low right up until the brink of catastrophic supply depletion, then we go from being OK to being utterly screwed in a very short time, probably with no options.

There is no third "we go on fine forever" scenario.
 
Displayed 50 of 284 comments

First | « | 1 | 2 | 3 | 4 | 5 | 6 | » | Last | Show all



This thread is closed to new comments.

Continue Farking
Submit a Link »





Report