Bryan asked:
I am aware of the previous investigation which became a sham the moment they allowed Oil Executives to testify without being placed under oath.
I am aware of how supply and demand works and I do agree with the concept being a capitalist.
I do care how much the oil companies make in profit, again because I am a capitalist.
I do not believe we are being gouged, but are rather victims of price fixing by fiat.
The suplly and demand argument falls short at one basic point. Oil is not like that new tv or car you are thinking about buying. It is instead a necessary commodity for most. There is no fair pricing strategy in the oil industry because there is no real competition. If station A is selling gasoline for x amount station B across the street will be the same amount or within pennies. This allows for a situation where they don’t have to collaborate with each other. One company sets a standard and others follow suit. The current price per barrel doesn’t support the pump price.
Milo
I am aware of the previous investigation which became a sham the moment they allowed Oil Executives to testify without being placed under oath.
I am aware of how supply and demand works and I do agree with the concept being a capitalist.
I do care how much the oil companies make in profit, again because I am a capitalist.
I do not believe we are being gouged, but are rather victims of price fixing by fiat.
The suplly and demand argument falls short at one basic point. Oil is not like that new tv or car you are thinking about buying. It is instead a necessary commodity for most. There is no fair pricing strategy in the oil industry because there is no real competition. If station A is selling gasoline for x amount station B across the street will be the same amount or within pennies. This allows for a situation where they don’t have to collaborate with each other. One company sets a standard and others follow suit. The current price per barrel doesn’t support the pump price.
Milo
