HaulinBut

Infidel,

I think you absolutely nailed it!!
You may have stated it better than I could, BUT...I'll betcha I ticked off more people!

HaulinBut

Of Course ya can..Get a push mower or replace your lawn with wild flowers or rock. We are SO spoiled. what makes ya think we are entitled to cheap gas? Ya want cheap fuel? I think I heard a couple of days ago that Dubai is selling it at .60 or .90 cents/per gal. Follow The Cheap.

Oilguy

Well put! I agree with everything except politician know how supply and demand works... I think alot of them actually think the Fed Gov can and should do something about it...

OG

P.J

Uh, I have jsut under 2 acres, I'll torch it before i push mow.

I don't think we are entitled to the cheap gas, I'm just wondering how they have been giving it away to us all these years and NOW we have to pay 40% more?

infidel

Answer is simple, with free trade world demand has increased to the point that supply can barely meet it. It's a very delicate balance right now, that's the reason the speculators are in for the increased profit. Just the rumor of a little interruption in supply can send prices soaring.

Hate to think of what could happen with a major interruption such as Iran pulling their oil off the market in retaliation for sanctions or attack. We possibly could see per barrel price shoot up over $100 overnight.

bigdav160

Think of it this way. You have a water pond on your 2 acres that's fed by a small spring. Your neighbors have livestock and their water tanks are running low. The new almanac comes out predicting severe drought for the next few years.

All of sudden the water on your property becomes VERY valuable. That's with just the "threat" of a drought. Your neighbor's well runs dry. Now you have $70 barrel water.

Chrisreyn

OK.. kinda get this back on the track I intended...
Am I wrong to feel like we are being scammed in some way , that our govt. has given these companies tax breaks repeatedly over the years with the stated intent to prevent the very situation we are facing?
And while we are facing this shortage, they post record profits, which in a way, seem to me to have been subsidized by our taxes, or by their being allowed not to pay the tax on their profit??
That is what I was trying to address or vent about when I started this thread.
I have NO Problem with the fact that a major corporation posts a profit. As stated, they have a legal responsibility to the shareholders to make every effort to be profitable.
But to do so at our expense, by what seems to have been misleading us as to the need for the tax breaks and incentives... that smells to me of fraud and out-right theft.
Maybe I am wrong about this, but it sure comes across that way.
Maybe one of you guys who seem to know more about this can explain.

bigdav160

Chrisreyn,

I don't think their is anyone here that isn't feeling the same pain.

Just remember.

Companies don't pay taxes, people do!

All taxes are eventually passed on to the consumers as increased prices.

HaulinBut

First off, I will admit that I MIGHT be wrong here, BUT.I thought I heard the CEO of Exxon Mobil state before the congressional clowns last month that the tax breaks had strings attached that made them nonsensical and for that reason EM was not participating in them. If I am recalling this right, they were tied into exploration, and since the oil majors were being denied the possibility of drilling anywhere on or around this continent, they were nothing more than a topic to justify whining.
And my head is even foggier on this issue, but I just saw the amount reinvested by the majors, and I thought it stated that they have already spent more than they have earned! Anyone know more on this?

TEXWS6

The so called tax breaks that you guys are talking about are for unconventional resources. When we go after tight gas, coal bed methane, shale gas (Barnett) it is like going to Vegas and you have no idea how to play craps. We go in to new areas that are undeveloped and try to develop an unconventional resource.

If theses tax breaks weren't given to find these fields, then i can only imagine what oil/natural gas would be right now. Because we were given some tax breaks, we were able to economically find more oil and natural gas!

You people complaining have to realize, what would happen if the natural gas or the gas station would run out of fuel one day? Cold homes, no way to get around! Just be thankful you have gas/diesel/natural gas to live the lifestyle that we enjoy as Americans!!

I work for a natural gas company and we drill many wells every year, i know natural gas is expensive, but i know at night that the kids will have a warm home and a warm bed because of me and many people that work in the energy industry!

mcohen

Ad removed site violation

Oilguy

Looks like the pill in a ketchup bottle...
when you see a product that you can't hardly find information on the product without wadeing through pages on get rich tomorrow and binary legs... I would stay clear.
oilguy

Partsman

Just though I'd share, Chervon just used some of that profit. They bought 22% share of a bio-diesel plant being built in Galveston Tx.

MikeyB

Here's the article.....

http://www.chron.com/disp/story.mpl/...y/3858043.html

MikeyB

shortbus

Want to buy a bridge? Seriously, I've got one to sell you cheap...

It has nothing to do with supply. It has to do with the fact that they can charge whatever they want and we'll pay it. As a libertarian and believer in a free market I'm all for that. What I do have a problem with is the amount of tax we pay per gallon.

I've also got a problem with being lied to. "We've got to raise prices because of Katrina" and "we're just passing our costs on to the consumer" then posts record profits. I'd fell much better if they'd just come out and say, we're fixin to give it to ya good, no lube, no reach around. Now bend over.