Oil Company Executives Defend Profits

[Imran Siddiqui]

Yes... many igloos in Texas

[SlowwHand]

No. 1: in spite of people's beliefs, it does get damn cold here.
The reason? The humidity that makes it so hot, pushed around by average winds that eclipse the "Windy City" of Chicago.

No 2: Playful is from Salt Lake City. That's in Utah.
You know, snow capped mountains and stuff like that?
They have ski resorts there.

What it boils down to, once again, is some run their mouth without knowing wtf they're talking about.
I'm used to it, and she may get used to it, I don't know.

[Imran Siddiqui]

It says Texas bound in his location.

[SlowwHand]

From the article, and it's not wintertime. This would be based on automobile use.
Utilities are in the process of raising rates.
My heart pumps purple panther piss in sympathy for the poor misunderstood oil companies.

Together the companies earned more than $25 billion in profits in the July-September quarter

So stop driving so much? That does what to the oil companies? Nothing good, but nothing bad.
They'll pass as much of the loss onto remaining drivers as they can.
No matter how you look at it, the consumer takes it right up the old wazoo. Gas and/or heat.

[Playful]

Originally posted by Imran Siddiqui
It says Texas bound in his location.

Texas bound.. as in headed to Texas .. and last I looked I wasn't a "his"

[Mr. Harley]

Many Americans have become confused with the idea the Free Markets = Fair Pricing. Free Markets mean charging what the market will bear. Now if you are smart, like the Saudis, you don't want the price too high or alternative sources - like our Canadian neighbor's Tar Sands - or a reduction in economic activity due to the high price of energy will reduce you actual income. If you are stupid you gouge in the short term without looking at longer term losses.

Since the Saudis don't want oil prices this high - they aren't stupid. Much of the higher costs are due to free market issues that have absolutely nothing with the actual cost of the energy. The Saudis and other OPEC nations, not being stupid, are NOT going to get in the way of free market forces when they are largely pumping the max. People like Southwest Airlines, who signed long term contracts and hedged their prices, have done very well. Others, well, got f*cked. BTW - the US could have signed several long term oil contracts with the Russians (I typed Soviets the first time ) back in the first couple of years after Putin got in. We refused. Dumb.

[Japher]

There is a "growing suspicion that oil companies are taking unfair advantage," Sen. Pete Domenici (news, bio, voting record), R-N.M., said as the hearing opened in a packed Senate committee room.

Really?

Oh, and Sloww, Gung-ho!

[Arrian]

I signed up for the "alternative energy" program through my power company and I'm looking at replacing one of our cars (it's due) with a more fuel efficient model (downsizing from Accord to Civic, although not necessarily the hybrid).

Individually, this will do jack ****, except cost me a little *more* for electicity, and a little less for gasoline. But if millions do it, then our oil/gas consumption would drop, and perhaps result in an actual economic shift of some kind. Until then, meh.

-Arrian

[DanS]

One thing I will say about hybrids... Even if it doesn't make sense on the upcoming purchase to buy hybrid because the marginal price on this one vehicle is so high, a hybrid purchase might make sense if you look at it as a series of hybrid vehicle purchases which overall make sense. The marginal price for hybrids is expected to decline drastically over time.

[Japher]

ppl bought diesels because the fuel cost was lower and suppose to stay that way...

their gas is still over $3!

[Verto]

Originally posted by SlowwHand
My heart pumps purple panther piss in sympathy for the poor misunderstood oil companies.

Making a profit is nothing to be ashamed of.

[Aphex_Twin2]

What seems to be going on now is an inability of smaller producers from entering a highly regulated market and inability of producers in general (within the US) to increase their refining capacity fast enough to cope with demand (due to the same regulations). But this is a minefield with interests at stake (favour dispensation is popular among politics) and also there are environmental concerns.

[Verto]

Originally posted by Playful


Tell me wiseguy.. how warm do you keep your igloo?

Considering it is still 80s-90s here, I don't run either A/C or heat. But when it does get cold, I wear sweaters, jackets, etc. Since when is mankind incapable of surviving winter without electricity-provided heat? WEAKLINGS!

[Rufus T. Firefly]

There's no such thing as price gouging. If they're charging it and you're willing to pay it, that's not gouging; it's Econ 101.

[Tattila the Hun]

Capitalism? I quess Marx was right, after all.