TheRock wrote:What should they be doing? Cut out their profit entirely, stop paying their employees and operating expenses just so you pay a few cents less at the pump? Gas prices would still be ridiculously high.
Are you familiar with the concept of "tragedy of the commons"? A few dollars here and there from 300 million people eventually turns into billions of dollars, which would maybe help support the freefalling economy. It's ridiculous to say "a few cents from one person" isn't important for the economy. And there's no reason to go from one extreme to another, they don't have to cut out their profit entirely
. Are you implying that they wouldn't be able to pay their employees with, say, an $8 billion profit?
TheRock wrote:Any oil company is welcome to come along and sell it for less. Which will not doubt incite cries of price-fixing conspiracies.
You completely miss my point. They sell the same amount of units, but the per-unit profit would be less, since what they're selling is a necessity and would be bought at $3.50 a gallon, $4.50 a gallon, or, as we'll soon see, upwards of $5 a gallon. This applies to all oil companies.
TheRock wrote:Crimes? You do love your sensational buzz words, don't you? Let me guess, journalism major? Just because you call something enough nasty names doesn't make your case any truer. Gas prices suck, but one of the protections of a free market economy is the assurance that if it could be profitably sold for less, someone would do it.
Hey, awesome, focus on one word I write and miss the whole point. See above.
TheRock wrote:Fascinating we've chosen to fixate on companies turning a 7% profit while completely ignoring the fact that crude prices have increased exponentially in a few short years. No news articles on what the Saudis are doing with all that money? It's ok for them to get filthy rich for nothing, but not for any US company to earn a nice rate of return for its investors?
This is also a reason we have to get into alternative energy resources, the Saudi government is one of the most oppressive in the world, if not the
most oppressive. It's really sad to see Bush suck up to the Saudis and beg them to lower oil prices, only to be sharply denied and then walk out with his tail between his legs. Unfortunately, the oil they have has our balls in a salad shooter. I can't wait for the day we can finally cut ties with this nasty regime.