UN calls for oil price controls
- Thread starter Tempest
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Originally Posted By: ZZman
Yeah...backs of other people.
End consumers.
Who's backs are you riding on. Does anyone pay you a salary or for a job completed?
They aren't on my back. I consider my gas purchases a fair exchange otherwise I would reduce them. I could drive a smaller, less powerful (and less safe) car, reduce my pleasure driving or even move closer to my work.
I'm frankly pretty impressed with the oil industry. Creating a valuable and highly technologically advanced product for millions of people readily available 24 hours a day. And all that in face of huge political opposition that drives up prices intentionally and then attacks the industry for the price increases.
Of course I am a shareholder in many of the majors and their support companies too. (In my modest retirement accounts).
Yeah...backs of other people.
End consumers.
Who's backs are you riding on. Does anyone pay you a salary or for a job completed?
They aren't on my back. I consider my gas purchases a fair exchange otherwise I would reduce them. I could drive a smaller, less powerful (and less safe) car, reduce my pleasure driving or even move closer to my work.
I'm frankly pretty impressed with the oil industry. Creating a valuable and highly technologically advanced product for millions of people readily available 24 hours a day. And all that in face of huge political opposition that drives up prices intentionally and then attacks the industry for the price increases.
Of course I am a shareholder in many of the majors and their support companies too. (In my modest retirement accounts).
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We all ride on someones back. Someone pays my salary like everyone else does who has a job that pays money as compensation. Someone has to pay or it is not a job.
But I don't get to change my compensation constantly for any number of reasons that may or may not affect my job.
I too am impressed with the Oil industry as a whole. I am less impressed with how the financial market sells their product.
I, you or others should not have to change how we live to avoid helping the select few get richer.
I guess your fair and mine are different.
But I don't get to change my compensation constantly for any number of reasons that may or may not affect my job.
I too am impressed with the Oil industry as a whole. I am less impressed with how the financial market sells their product.
I, you or others should not have to change how we live to avoid helping the select few get richer.
I guess your fair and mine are different.
Originally Posted By: grampi
Originally Posted By: Tempest
All government does is create shortages or bubbles when it interferes in these things.
Unlike the crude oil/gasoline/diesel markets where there are never any bubbles created....
Electricity price is not regulated (at least on the supply side). And in some cases even the retail price is not regulated if you are big enough of a customer.
Bubble in electricity, for sure, look at the rolling black out we have in California from Enron back in 2000-2001.
Originally Posted By: Tempest
All government does is create shortages or bubbles when it interferes in these things.
Unlike the crude oil/gasoline/diesel markets where there are never any bubbles created....
Electricity price is not regulated (at least on the supply side). And in some cases even the retail price is not regulated if you are big enough of a customer.
Bubble in electricity, for sure, look at the rolling black out we have in California from Enron back in 2000-2001.
I, you or others should not have to change how we live to avoid helping the select few get richer.
ZZman,
Should the U.N dictate the price of computers and loans as well? Microsoft and the big banks have a far higher level of profit than any oil company.
Microsoft makes roughly 30% profit and the banks make roughly 25% opposed to the 3%-9% oil companies make. Of course, the banks just got trillions in bailouts to cover their losses and make THEIR profits.
ZZman,
Should the U.N dictate the price of computers and loans as well? Microsoft and the big banks have a far higher level of profit than any oil company.
Microsoft makes roughly 30% profit and the banks make roughly 25% opposed to the 3%-9% oil companies make. Of course, the banks just got trillions in bailouts to cover their losses and make THEIR profits.
They are not dictating a price. They would be making an agreement for a price range.
Others do that too with products. They neogoiate reduced prices or lock in prices.
Plus I don't have to buy Microsoft products or get loans every week. I do buy gas and oil products weekly. There is also competition in those areas from other companies, Credit Unions etc....
Oil has no competition, No discounts or free alternatives.
Others do that too with products. They neogoiate reduced prices or lock in prices.
Plus I don't have to buy Microsoft products or get loans every week. I do buy gas and oil products weekly. There is also competition in those areas from other companies, Credit Unions etc....
Oil has no competition, No discounts or free alternatives.
Originally Posted By: ZZman
Oil has no competition, No discounts or free alternatives.
There are alternatives to oil but like Microsoft they're aren't great alternatives that aren't much higher in price.
The oil industry is very competitive,With many producers, That is why there are few discounts. The margins are already thin. High margin items are ones that are always going on sale whenever demand slacks.
Both demand and supply are relatively inelastic. Saudi Arabia being the exception. They maintain excess capacity they can turn on at will.
Oil has no competition, No discounts or free alternatives.
There are alternatives to oil but like Microsoft they're aren't great alternatives that aren't much higher in price.
The oil industry is very competitive,With many producers, That is why there are few discounts. The margins are already thin. High margin items are ones that are always going on sale whenever demand slacks.
Both demand and supply are relatively inelastic. Saudi Arabia being the exception. They maintain excess capacity they can turn on at will.
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They are not dictating a price. They would be making an agreement for a price range.
What do you think OPEC is?
They are not dictating a price. They would be making an agreement for a price range.
What do you think OPEC is?
Originally Posted By: MonumentOiler
Originally Posted By: ZZman
How much profit do they and their stockholders need on the backs of other people?
"On the backs of other people" ?
That's the kind of comment that makes it clear that those bashing the oil companies and oil markets have little interest in how thing actually work or how to improve the energy situation for us all but are just interested in cheap shots.
Sometimes the bashing is well deserved. As when Connoco Phillips, after reporting record profits, issued a press release stating any cuts to the subsidies they are receiving will hurt the company.
When a company tries to feed you carp like that and call it cake, they should be taken to the mat for it.
They issue this garbage while those same profits are a major ingredient in the cost of living increases that are causing a lot of economic pain to everyone who isn't an exec at one of these subsidized, record profit producing firms. So yeah, they are making it off the backs of other people. The shoe fits.
And just to break it down for you, having stated you somehow get whatever the rest of us are missing "who lack the understanding of things" you imply you do, where do you think the subsidies come from? Could it be the tax payer? Yep, really complex and hard to understand exactly how that works.
-Spyder
Originally Posted By: ZZman
How much profit do they and their stockholders need on the backs of other people?
"On the backs of other people" ?
That's the kind of comment that makes it clear that those bashing the oil companies and oil markets have little interest in how thing actually work or how to improve the energy situation for us all but are just interested in cheap shots.
Sometimes the bashing is well deserved. As when Connoco Phillips, after reporting record profits, issued a press release stating any cuts to the subsidies they are receiving will hurt the company.
When a company tries to feed you carp like that and call it cake, they should be taken to the mat for it.
They issue this garbage while those same profits are a major ingredient in the cost of living increases that are causing a lot of economic pain to everyone who isn't an exec at one of these subsidized, record profit producing firms. So yeah, they are making it off the backs of other people. The shoe fits.
And just to break it down for you, having stated you somehow get whatever the rest of us are missing "who lack the understanding of things" you imply you do, where do you think the subsidies come from? Could it be the tax payer? Yep, really complex and hard to understand exactly how that works.
-Spyder
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Quote:
They issue this garbage while those same profits are a major ingredient in the cost of living increases that are causing a lot of economic pain to everyone who isn't an exec at one of these subsidized, record profit producing firms. So yeah, they are making it off the backs of other people. The shoe fits.
Oil companies pay more in taxes than they do in profit so by your own logic, the government is causing more economic pain than are the people making profit by actually doing the hard work of providing the life blood of our economy.
They issue this garbage while those same profits are a major ingredient in the cost of living increases that are causing a lot of economic pain to everyone who isn't an exec at one of these subsidized, record profit producing firms. So yeah, they are making it off the backs of other people. The shoe fits.
Oil companies pay more in taxes than they do in profit so by your own logic, the government is causing more economic pain than are the people making profit by actually doing the hard work of providing the life blood of our economy.
Originally Posted By: ZZman
They are producers.
But they are not setting a price range.
They are letting the market place (Middle man)do that.
If you control the supply of something, then you control the price.
They are producers.
But they are not setting a price range.
They are letting the market place (Middle man)do that.
If you control the supply of something, then you control the price.
Originally Posted By: Tempest
http://www.bloomberg.com/news/2011-05-05...-agreement.html
Quote:
The Group of 20 nations should negotiate a benchmark “fair” cost of oil with the Organization of Petroleum Exporting Countries and limit price movements within a band, the United Nations said.
The G-20 needs to “act decisively to moderate the volatility of oil and food prices,” the agency said in a statement as it released an annual report on Asia and the Pacific in Bangkok today.
This is not good.
What a terrible article! "The UN said this... the UN said that..." The UN is an organization, a very large organization, a very large criminal conspiracy. What is the name of the imbecile who made these statements? In which directorate does he work? Does he have any credentials besides being the nephew of the senior official who got him his cushy job?
The only good idea in the article is the recommendation that the G20 countries stop using food to make biofuels. But everything else in the recommendation is likely to cause shortages of both food and fuel, doing serious damage to lives in the lesser-developed countries which the article says they want to help.
http://www.bloomberg.com/news/2011-05-05...-agreement.html
Quote:
The Group of 20 nations should negotiate a benchmark “fair” cost of oil with the Organization of Petroleum Exporting Countries and limit price movements within a band, the United Nations said.
The G-20 needs to “act decisively to moderate the volatility of oil and food prices,” the agency said in a statement as it released an annual report on Asia and the Pacific in Bangkok today.
This is not good.
What a terrible article! "The UN said this... the UN said that..." The UN is an organization, a very large organization, a very large criminal conspiracy. What is the name of the imbecile who made these statements? In which directorate does he work? Does he have any credentials besides being the nephew of the senior official who got him his cushy job?
The only good idea in the article is the recommendation that the G20 countries stop using food to make biofuels. But everything else in the recommendation is likely to cause shortages of both food and fuel, doing serious damage to lives in the lesser-developed countries which the article says they want to help.
Originally Posted By: Spyder7
Sometimes the bashing is well deserved. As when Conoco Phillips, after reporting record profits, issued a press release stating any cuts to the subsidies they are receiving will hurt the company.
When a company tries to feed you carp like that and call it cake, they should be taken to the mat for it.
Conoco-Philips is a publicly-traded company, and its management has a fiduciary duty to do whatever is in the interest of its shareholders. Higher taxes on Conoco are bad for Conoco's shareholders -- that is not [censored], that is a simple fact.
I have posted more information here and will not repeat it.
https://bobistheoilguy.com/forums/posts/2265567/
Sometimes the bashing is well deserved. As when Conoco Phillips, after reporting record profits, issued a press release stating any cuts to the subsidies they are receiving will hurt the company.
When a company tries to feed you carp like that and call it cake, they should be taken to the mat for it.
Conoco-Philips is a publicly-traded company, and its management has a fiduciary duty to do whatever is in the interest of its shareholders. Higher taxes on Conoco are bad for Conoco's shareholders -- that is not [censored], that is a simple fact.
I have posted more information here and will not repeat it.
https://bobistheoilguy.com/forums/posts/2265567/
Originally Posted By: Tornado Red
[
The only good idea in the article is the recommendation that the G20 countries stop using food to make biofuels.
Agreed that this is a good idea their methods for even that sounded creepy.
Quote:
“discipline the conversion of food into bio-fuels,” the U.N. said.
[
The only good idea in the article is the recommendation that the G20 countries stop using food to make biofuels.
Agreed that this is a good idea their methods for even that sounded creepy.
Quote:
“discipline the conversion of food into bio-fuels,” the U.N. said.
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