Oil($130/ barrel) has risen 6-fold since 2002

Oil prices, now $130 a barrel, have risen six-fold since 2002.

More people will become shut-ins, like us

The Dems sure made good on their promise to bring down the price at the pump if we elected them in '06....

>>3
2006? LOL, the election was in 2004, you stupid republicunt.

the democrats didn't even win.

the democrats didn't even win.

>>4
I'm trying to decide whether you're trolling or whether you really don't know that there are Congressional elections in the US every even-numbered year.

compared to the 70's. this price increase is nothing. With inflation, oil during the embargo would have 6.00 dollars. Also, 4 dollars a gallon really isnt that much for fuel, considering what other nations pay. And for my final point, GASOLINE IS A PRODUCT PRODUCED BY COMPANIES. THE GOVERNMEN CANNOT CHANGE THE PRICE OF OIL WITHOUT VIOLATING THE CONSTITUTION. Sry for CRUISING.

>>8
The government increases the price with ridiculously high taxes.  The federal tax on gasoline is 18 cents.  State taxes range from 9 to 31 cents.

Now consider the profit margins for the oil companies.  For each dollar in sales of gasoline the companies make about 10 or 11 cents.  This means that the government makes more money off of gasoline than the actual oil companies.  And they do NONE of the work and bear NONE of the risk.

On top of that, the oil companies still pay massive amounts of income tax to the government.

And yet everyone complains that the oil companies are making too much money.  HA.  People, please wake the fuck up.

>>9
Note, those taxes are per gallon.

Yeah taxes on oil are unnecessary. The Road Fairy builds and maintains roads for free!

>>11
No one said the taxes had to completely disappear.  Roads could easily be built and maintained if the gasoline taxes were reduced to 4 or 5 cents a gallon.  Hell, even if it was only 5 cents per purchase there would be enough money.

But hey, if you don't see something really wrong with the government making more money on oil than the actual oil companies how can I expect you understand anything.  Fail harder.

>>12
do you have a cite for that?

http://www.gaspricewatch.com/usgastaxes.asp

http://en.wikipedia.org/wiki/Fuel_taxes_in_the_United_States

http://www.gravmag.com/oil.html
ctrl+f "Costs to produce and sell a gallon of gasoline in the US"

See the chart on the right.

>>9 Now consider the profit margins for the oil companies.

Okay.

>>For each dollar in sales of gasoline the companies make about 10 or 11 cents.

...so, you're admitting that the oil companies' markup has more than tripled since 2001?  You're actually coming out and admitting that here, after what you said above?

I AGREE

These dumb fucking liberals in congress don't want to continue oil drilling. Shit is only going to get worst, its also going to further affect the economy.

Quit whining, oil needs to be MORE expensive.
Nuclear powered electric trains are the future.

It's a good thing Americans bought up tens of millions of SUVs, since they're going to have to live in them soon.

As much as the issue of limited resources needs to be resolved, the present problem is clearly the fault firstly of market speculators, and secondly of price-gouging by oil corporations.

The failed windfall profits tax might have alleviated the second issue, but not the first.  The only solution, IMO, is to take oil pricing out of the hands of the market, and regulate (and possibly ration) the commodity in order to maintain a steady price point.  Laissez-faire be damned: it is absolutely irresponsible for the government to not step in.  They are playing the role of Nero, fiddling while Rome burns.

You know who we have to blame for high oil prices?

Environmentalists and Congress.

1) In 2001 CONGRESS de-regulated the commodities exchange so that more people could invest. This meant the now, large banks could buy into a market that they were previously excluded from. Since banks can issue loans, they buy oil futures on loan and repay themselves when they resell at a higher rate.

2) Environmentalists want to force the US to change buy bullshitting about "protecting the animals" but at the same time trying to say that the oil companies are solely to blame. IF companies could pump and refine oil in the US more so then they do now, prices would go down (not down to $2.00/gal, but every bit helps).

If we re-regulate the commodities market, people would bitch because the value of their mutual funds and such would fall because they invest in oil too. It would also mean that banks would have less money to loan out and people couldn't buy as much on credit or via loan.

The democrats in congress will NEVER allow the US to drill for oil inside the US because they are too much in bed with the environmentalist lobby. But here is the ironic part: environmentalists would rather have rabid polluters like CHINA drilling in the gulf. They don't live here, why should they give a shit about polluting here. Wouldn't it be better for the environment if a company subject to US environmental laws was drilling and not a foreign one?

So, next time you see an "environmentalist" bitching about oil company profits, I would like he/she in the groin and say "thanks for jacking up my oil prices"... because that is what I do.

I believe people are forgetting about record PROFITS.  Not record net gain, but gross.  That means every month more and more companies are making more and more profit, thus it's not just supply but also companies raising their profit margin.

>>22
Actually the oil companies would rather not build more refineries in the US.  For one thing, the profit margins of oil refinering are too small right now, and any added refining capacity drives down the profit margins of refining.  The price of gasoline is not for lack of refining capacity, for there is no such lack.

Also, you are full of shit about oil wells -- there's always exploration and wells getting made in the US.  Not to mention Canada where the fuckin' things are popping up like mushrooms even at Newfoundland.  NEWFOUNDLAND can you believe it.