Thread: Ot: Gas Prices
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pmc847 pmc847 is offline
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Join Date: Jan 2003
Location: Cross Plains, Wis
Posts: 979

I agree with almost everything you said. The likes of OPEC and Hugo have a very tight control of oil and yes our oil companies take advantage of that fact. Fix the first problem (OPEC) and the second (oil companies) might just fall into place. Then there is the world demand and the futures market aspect that contributes to the high prices. Again, I don't know what can be done to fix it at this point. This problem is just way too big to get my hands and mind around. Of course OPEC controlling members personal profits outweigh their investments. With OPEC it is controlled by a few at the expense of all. The oil companies are publicly owned through stock and stockholders benift. I have always maintained that the problem starts with OPEC. The point I have been trying to make is that a 10% profit margin is not gouging. Maybe if you strip away their questionable accounting practices it might show an even bigger profit margin. But what is too big of a profit margin? Oil companies rank about 127 among the top 500 for profit. What about the first 127? Should they be vilified the same as oil companies. They too are in it to make a profit and have control.

I've enjoyed this discussion and you have enlightened me with your knowledge but I don't think we are that far apart on what the real problems are. If we are going to enjoy and reap the benefits of capitalism in this country then I don't think its fair to vilify one company for making a reasonable profit over another that make 2 to 3 times that profit. The world runs on energy, and oil is king for now but when oil is replaced with another form of energy we will see the same thing happen. It's the price we pay for the benefits we reap.

Have a great day and lets ride.

Old 05-28-2007, 09:38 AM
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