I read the whole thing---- it recommends the government get into the
refining business and dictate/control the management decisions of oil
companies (a prescription for disaster!). If we go down that road, what's
next, Kieth's rock business? "Nationalize" other business sectors? The
English tried that and it messed up their national economy for decades.
The use of charged words like "excessive profits" and "gouging" are a sure
sign that this "report" is not as objective as it pretends to be. It
compares
three oil companies with the average of all industrial companies to prove
profits are "excessive"---a different comparison could "prove" the opposite
or alternately, it could be argued that the average industrial company is
under performing financially. The oil company management decisions cited are
no different than the decision making of any other business seeking to
maximize profits and shareholder value---that's their whole reason for
existing.
This thread was originally about the connection between the market price of
oil, the chemical fraction refined into gasoline, and the cost of that
pre-refined fraction as
opposed to the pump price.
So I apologize for wandering off into some political aspects this time---I
just couldn't help myself!
Lance
----- Original Message -----
From: "Robert J. Denton Images" <foxriverkid@earthlink.net>
To: "3 liter" <saltfever@comcast.net>; <Nt788@aol.com>
Cc: "land-speed submit" <land-speed@autox.team.net>
Sent: Tuesday, May 23, 2006 4:55 PM
Subject: RE: NON-LSR OIL & GASOLINE INFO
>I would highly suggest reading this file.
>
> http://www.consumersunion.org/profitscover.pdf
>
> Whoever posted it previously, thank you. Higher prices creating lower
> demand is a fantasy solution. It creates hardships and misery for millions
> who need gas to go to work, go to scholl, go to a doctor's appointment,
> etc. While a handful get profits and salaries that are purely obscene.
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