"HK" wrote in message
...
JoeSpareBedroom wrote:
"HK" wrote in message
...
Eisboch wrote:
"HK" wrote in message
...
I'll bet that Dicque Cheney is working right now with his "BIG OIL"
buddies to try to knock the price of gas down temporarily two weeks
before the November elections.

Sure he is Harry. Sure he is.

The blame for the price of oil doesn't reside with politicians, current
or past.
The blame resides with us.

Eisboch

I think a steep "excess profits tax" would tighten things up a hair,
that and members representing the public and responsible to it sitting
on big oil boards.


Excess profits in what terms? Straight dollars, or percentage? It really
wouldn't matter. Unlike the vast majority of businesses, crude oil is
priced by a gambling parlor. Even if you (and I mean YOU specifically)
could somehow control the profits of the oil companies, they still have
to buy crude at prices determined by sheer lunacy.


"Big Oil" helps set the price of the crude it buys. You think it doesn't
have "partners" sitting on the OPEC committees?


I'm sure they do. But, there are also speculators at work, in the exact same
way speculators dick with the price of stocks to the point where their
prices are completely disconnected from physical & financial reality.

Speculative nonsense:
"Oil prices were dampened as well by worries over the U.S. economy after
Wall Street fell again Monday on expectations of further fallout from the
ongoing credit crisis. The Dow Jones industrials ended below 13,000 for the
first time since August."

Speculative nonsense:
"Oil prices dropped about $1 per barrel Tuesday after a key OPEC member left
open the possibility that the oil cartel will increase output and one energy
agency lowered its demand forecast."

Speculative nonsense:
"Energy investors often view stocks as a proxy for economic growth, and in
some recent sessions, movements in the oil market have closely followed that
of global equities. Stocks rose Monday in Asia and Europe."

Speculative nonsense:
"Oil prices gained $2 per barrel on concerns over renewed violence in
Baghdad."

That last one's a real winner, eh? Violence in a city located in a country
whose oil production is barely a blip on anyone's radar? That quote came
from 2003, by the way. What a surprise: Violence in Baghdad. Bull****.