dgriego
Posted : 3/7/2008 10:13:01 AM
Ben Stein had a very interesting report on Oil Companies
http://finance.yahoo.com/expert/article/yourlife/2973
Some high lights are:
"The energy companies don't set the price of oil or of gasoline. The prices you pay for heating oil or gasoline aren't set in boardrooms in Texas but in trading rooms at commodities markets all over the world."
"So, when prices go up or down, it's not a conspiracy. It's panic or confidence in the market. It's just like what happens on the stock markets every trading day -- greed or fear at work, not at the companies being traded but on the exchanges. The oil companies can either lose or gain from this trading."
another interesting point was made by Glenn Beck a couple of days ago. Who is Big Oil? It is us.
http://members.tripod.com/schmookler/lib/whosinch.htm
"Who owns Exxon? The answer, in a way, is both nobody and everybody. It is "nobody" in that no single person owns as much as 5% of the company. Exxon, the lineal descendent of Rockefeller's Standard Oil, is nobody's baby. It is "everybody" in that more than a third of the company is owned by institutions like pension funds. There is a good chance, if you are a working American, that you own a little bit of Exxon."
ron2
I don't want McCain being puppeted by the lobby groups. But I don't want him to be puppeted by oil, either. I think the next person that says we can't drill our own oil should be treated as a traitor to this country.
Three cheers for this quote! I agree 100%!
ron2
The problem with ethanol is that it is more expensive to produce and would create as much or more problems as we have with oil.
More. It already is as grocery prices are skyrocketing due to the price of corn. The cost to get ready to pump it into cars at all gas stations is huge, and that cost will be passed on to us. Meat goes up since cows eat corn, bread goes up, milk goes up, eggs go up and what is amazing to me is even if we went 100% ethanol and stopped using oil other countries such as China will surpase all our green house gas emmissions and the world will really be no better off as far as emmisions go,except Americans will be taxed higher and will pay higher prices for goods.
ron2
It was a beautiful pipe dream and needs to die a fitful death.
another three cheers!