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(Rolling Stone)   The oil markets are rigged and Europe is actually doing something about it   (rollingstone.com) divider line 120
    More: Hero, European Commission, Europe, raid, Federal Energy Regulatory Commission, oil companies, Libor, financial markets, Office of Fair Trading  
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20171 clicks; posted to Main » on 15 May 2013 at 1:35 PM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2013-05-15 01:38:30 PM
Tomorrow's headline "Europe found dead in a ditch with hands bound behind it's back, bullet wound to back of skull. Coroner declares it a suicide"
 
2013-05-15 01:39:13 PM
Why yes, it's national treasure Matt Taibbi.
I'll never understand the Rolling Stone thing.
 
2013-05-15 01:40:30 PM
Is this the final countdown?
 
2013-05-15 01:41:17 PM
So that's why my Total stock is off today.
 
2013-05-15 01:41:32 PM
It's supply and demand. Remember that, Citizen. Now run along, and go about your business.
 
2013-05-15 01:43:07 PM
api.ning.com
 
2013-05-15 01:45:10 PM
Well, color me "surprised"

/NOT
 
2013-05-15 01:45:50 PM

Walker: Is this the final countdown?


No, this is:

http://www.youtube.com/watch?v=0o2ufv_c0xI
 
2013-05-15 01:46:05 PM
Europe is just jealous of the oil company's profits.
 
2013-05-15 01:46:51 PM
Fined hundreds of millions of dollars??? Oh dear they will have nothing to fear!
 
2013-05-15 01:48:01 PM
No sh*t / good for them
 
2013-05-15 01:48:07 PM
tallytaxman.com

What?  Say it's not so!

People in power collude to monopolize power... who would play such a sick game?
 
2013-05-15 01:48:09 PM
Still no word on why gas stations surrounding Louisville, KY cost 80 cents less than gas stations in downtown Louisville
 
2013-05-15 01:48:17 PM
I keep getting richer but I can't get my picture on the cover of the Rolling Stone.
 
2013-05-15 01:48:44 PM
scm-l3.technorati.com
 
2013-05-15 01:49:59 PM

cwolf20: Still no word on why gas stations surrounding Louisville, KY cost 80 cents less than gas stations in downtown Louisville


The same reason office space in surrounding Louisville costs less per sq. ft. than office space in downtown Louisville.
 
2013-05-15 01:50:19 PM
As someone who just paid $6.27 a gallon today, I am getting a kick out of all these replies.
 
2013-05-15 01:50:22 PM
assets.rollingstone.com
I say, white collar crime is as American as bootlegging.
 
2013-05-15 01:50:42 PM
Well, that was a whole lot of nothing.

I'm no fan of Big Energy, but if we're going to convict or even fine them for something, let's see some evidence.
 
2013-05-15 01:51:32 PM
Hell, it's about time.
 
2013-05-15 01:51:34 PM

Rapmaster2000: cwolf20: Still no word on why gas stations surrounding Louisville, KY cost 80 cents less than gas stations in downtown Louisville

The same reason office space in surrounding Louisville costs less per sq. ft. than office space in downtown Louisville.


Because it will take 2 gallons to drive to where it's cheaper?
 
2013-05-15 01:54:58 PM
I've always wondered why we don't have price controls on oil and gas. We are, more or less, a captive market.

I mean, we've got price controls in agriculture and many other areas; but, not in the most important area to the economy.
 
2013-05-15 01:55:08 PM
*ahem*   DUUUUUUUUUUUUUUUUUUHHHHHHHHHHHHHHHH!!!

Obvious Tag is missing.
 
2013-05-15 01:55:28 PM
Oh god... the Tom Friedman Article Generator he linked to in one of his earlier articles is farking GENIUS.

http://thomasfriedmanopedgenerator.com/
 
2013-05-15 01:56:19 PM
Next to be looked into should be the taxes on gas, which consist of 75% (or more) of the prices, supposed to be for road maintenance and such....

The roads are so bad that I feel that I'm always going through an obstacle course every day.

One particular pothole was so bad that even at low speed, with passengers, I ended up touching the ground with the axel, and that was trying to go around it.
 
2013-05-15 01:56:58 PM
Only wish electric cars had more range and would be more affordable.   Would love to tell Big Oil to suck it.
 
2013-05-15 01:58:12 PM
assets.rollingstone.com

"So some of my friends started to call me 'Two-Phones'..."

/Arthur 'Two-Phones' Jackson
 
2013-05-15 01:59:12 PM
Yeah, nothing's gonna happen. They might get fined billions of dollars, but that's nothing to them and it will continue to be business as usual.

Hey, I've got an idea: let's stop burning oil as soon as we can.
 
2013-05-15 01:59:39 PM
Are they having the IRS attack these companies ?
 
2013-05-15 01:59:46 PM

LessO2: Only wish electric cars had more range and would be more affordable.   Would love to tell Big Oil to suck it.


Big Coal isn't exactly unhappy about the prospect either :)
 
2013-05-15 02:00:22 PM
A LOT of people are going to die before anything gets done about them.  Parasites only survive if the host body can support their appetite.
 
2013-05-15 02:00:51 PM
And just like in the US after all the hoopla, nothing will have changed.
 
2013-05-15 02:00:53 PM

LessO2: Only wish electric cars had more range and would be more affordable.   Would love to tell Big Oil to suck it.


There are diesel power generations in many areas....  So your admonition to "suck it" probably doesn't hold much weight.  :D
 
2013-05-15 02:04:13 PM

Cubicle Jockey: Oh god... the Tom Friedman Article Generator he linked to in one of his earlier articles is farking GENIUS.

http://thomasfriedmanopedgenerator.com/


This Ain't Yogurt.
 
2013-05-15 02:04:22 PM
Don't expect to see this in America, where Congress is a wholly-own subsidiary of the oil industry.
 
2013-05-15 02:06:09 PM
...because there "may" be some reason why oil is above $90/barrel when it was under $50 for years.

despite the glut of resources and more gas efficiency


/things that make you say, hmm...
 
2013-05-15 02:06:18 PM
Something, something, something....... the hot oil hitting the anus?
 
2013-05-15 02:07:11 PM
The oil markets are rigged, and water is wet.  Film at eleven.

img.photobucket.com
 
2013-05-15 02:07:14 PM

LessO2: Only wish electric cars had more range and would be more affordable.   Would love to tell Big Oil to suck it.


I did that just after the new year. It's awesome.

/solar powered since mid 2012, so the electric utility can suck it too.
 
2013-05-15 02:07:34 PM

PunGent: LessO2: Only wish electric cars had more range and would be more affordable.   Would love to tell Big Oil to suck it.

Big Coal isn't exactly unhappy about the prospect either :)


Timothy Mitchell argues the way coal is produced and transported led to the creation of truly democratic states, while the way oil is produced and transported has enabled new forms of authoritarianism - so go big coal I guess  :) http://www.amazon.com/Carbon-Democracy-Political-Power-Age/dp/1781681 1 63/ref=sr_1_1?s=books&ie=UTF8&qid=1368203156&sr=1-1&keywords=carbon+de mocracy
 
2013-05-15 02:08:41 PM

cwolf20: Still no word on why gas stations surrounding Louisville, KY cost 80 cents less than gas stations in downtown Louisville


The gas where I live is 20 cents cheaper than in Louisville.
/Then again I live in small shiatty town.
 
2013-05-15 02:09:37 PM

iheartscotch: I've always wondered why we don't have price controls on oil and gas. We are, more or less, a captive market.


Because the best long-interest is to control them by making them high, driving innovation.  Making gasoline $8/gallon by imposing a huge tax and using the tax to invest in infrastructure would be a huge boon to society -- AFTER about a decade of serious pain, so no politician could even jokingly suggest it without being blacklisted from office.  People suggest controls to make energy artificially cheap, but that only encourages waste.

And hell if we're a captive market.  The people complaining the loudest about fuel prices use way more than they need and scoff at any attempts to reduce consumption as part of the liberal "let's all move back into caves" agenda.  Hell, I live in an uber-liberal state that uses a lot of heating oil, which impacts gasoline prices.  The same people biatching about how oil prices are killing them think turning the thermostat below 70F is prison camp treatment, and half the vehicles on the road are full-size SUVs.
 
2013-05-15 02:11:02 PM
...and it ain't just rigged at the crude level either.  Gas prices are rigged worse.
 
2013-05-15 02:11:46 PM

rogue49: ...because there "may" be some reason why oil is above $90/barrel when it was under $50 for years.

despite the glut of resources and more gas efficiency


/things that make you say, hmm...


It's almost as if there was a large populous country with a growing demand for the stuff...http://au.businessinsider.com/no-chinese-hard-landing-2013-5
 
2013-05-15 02:13:32 PM
They can't understand why gas stations don't drop their prices quickly? It's called "profit". And in the U.S., gas stations check what the nearby prices are -- no need to collude when you're basing your prices on what the competition is publishing.
 
2013-05-15 02:13:41 PM
Yeah right, next thing they'll proclaim is the insurance industry is completely rigged. Ridiculous.
 
2013-05-15 02:14:03 PM

Rapmaster2000: cwolf20: Still no word on why gas stations surrounding Louisville, KY cost 80 cents less than gas stations in downtown Louisville

The same reason office space in surrounding Louisville costs less per sq. ft. than office space in downtown Louisville.


Because Louisville is evil and must be punished.
 
2013-05-15 02:14:13 PM

imfallen_angel: Next to be looked into should be the taxes on gas, which consist of 75% (or more) of the prices, supposed to be for road maintenance and such....

The roads are so bad that I feel that I'm always going through an obstacle course every day.

One particular pothole was so bad that even at low speed, with passengers, I ended up touching the ground with the axel, and that was trying to go around it.


75%? Are you sure about that? (I mean, you live in Canada according to your profile.)

upload.wikimedia.org
 
2013-05-15 02:15:23 PM
images.bookrenter.com
 
2013-05-15 02:19:01 PM
Doesn't OPEC set "basic" pricing?
 
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