On Tue, 08 May 2007 20:07:54 -0400, Wayne.B
wrote:

On 8 May 2007 10:45:56 -0700, Chuck Gould
wrote:

The oil companies have a right to earn a profit. We don't have any
right to cheap oil. The frustration is in being so blatantly
manipulated, and a minor amusement is hearing the programmed
apologists offering the freshest round of big oil excuses for the
various refinery emergencies that just happen to occur during the same
strategically beneficial period each year.

OK, so let's assume this is all true and that US petro consumers are
being manipulated to death and taking it in the shorts.

Where else in the world other than Venezuela and a few other big oil
producers can you buy more cheaply? If the oil companies were having
trouble selling their product, prices would drop in a hurry. Is that
supply and demand, or is it manipulation?

The majority of gasoline sold is used for "essentials." Getting to
work, and getting the groceries. There is no real price competition
because it is a limited resource and there are just a few retailers.
With gasoline so far no entrepreneur has come up with a better or
cheaper mousetrap.
Prices can be easily manipulated and are manipulated. Happens in all
businesses which control a limited resource - including trained
personnel - until that resource can be increased or replaced.
I've benefitted from that myself.
Price manipulation is a product of supply and demand, real or not in
the case of such a closely held commodity like gasoline.
I haven't heard of gas stations running out of gas during this recent
spike, but the oil companies can say they are raising prices to
prevent that from happening. Who will dispute that?
Personally gas prices don't affect me much, and never have.
High gas prices most affect people who use a lot of it.
Makes sense to just use less if you can't afford it.
Of course for many people that ends up causing a yo-yo effect;
gas is expensive, buy an economy car, gas is cheap, get a Hummer,
gas gets expensive, back to the economy car.
Some people will just have to make adjustments, and low-paid people
who have to drive a good distance to work will suffer most.
I've got my views on how to solve the gas price "problem," but I've
decided to leave it up to the newsgroup to get this issue resolved.
I'll just wait for that to happen.

--Vic