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Watching the Watchers
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has a lot to do with production and especially refining capacity. Actually there are a ton of reasons, I dont really know how Bush can be blamed, but I suppose someone will chime in.
 

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WHeat, OJ , coco beansand coffee are traded on the open market but yet price does not go up and down everyday
Why does gas go up and down everyday
Someone is making a sh*t load of money.
 

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Discussion Starter #5
Brett said:
has a lot to do with production and especially refining capacity. Actually there are a ton of reasons, I dont really know how Bush can be blamed, but I suppose someone will chime in.
There are those who might say Bush is responsible for the instability in the region, but if that has a major bearing, I'm not sure...
 

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Yeah, as the president of the united states i guess you could assume he has some influence on almost anything. I just think in this case any role Bush has played is pretty minor.

Think back to the beginning of the war when alot of anti-bush people claimed he was going in there to steal the Iraqi's oil. The "no blood for oil" camp, whatever happened to them? Shouldn't we be seeing lower prices by now from all that stolen oil? :)

Here's the crux of the matter from the information I've seen:

http://www.resourceinvestor.com/pebble.asp?relid=10479

"If we send more oil to the United States and you can't refine it, it's not going to become gasoline," al-Jubeir said. The United States has not built a refinery since the 1970s, and other markets have similarly outmoded or limited refining capacity. Environmental concerns and local opposition make it unlikely new U.S. refineries can be built quickly, even with the current gas price crunch.
 

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Discussion Starter #9
Sinister Angel said:
Just driving through with this link as well..

http://www.capmag.com/article.asp?ID=4376

"That is why we would be better off if the government did nothing and let people adjust their own energy consumption individually in their own ways as the prices of gasoline and fuel oil rise."

I don't necessarily agree with this. For example, in provinces that have private car insurance like Ontario, you might pay $3,000 dollars for plates and insurance, because all the private businesses got too greedy and there is no limit to what the people have to pay. In my province, the government regulates the rates and keeps them reasonable and I only pay 700 dollars a year for plates including insurance.

Capitalism does not always mean lower prices for consumers as many businesses, etc. can charge a premium or what they want and it can get out of control. then again, in other cases, competition is good at lowering prices. It depends.
 

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Ralph said:
"That is why we would be better off if the government did nothing and let people adjust their own energy consumption individually in their own ways as the prices of gasoline and fuel oil rise."

I don't necessarily agree with this. For example, in provinces that have private car insurance like Ontario, you might pay $3,000 dollars for plates and insurance, because all the private businesses got too greedy and there is no limit to what the people have to pay. In my province, the government regulates the rates and keeps them reasonable and I only pay 700 dollars a year for plates including insurance.

Capitalism does not always mean lower prices for consumers as many businesses, etc. can charge a premium or what they want and it can get out of control. then again, in other cases, competition is good at lowering prices. It depends.
Capitalism would mean not requiring insurance. Believe me, prices would drop..
 

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Discussion Starter #11
Sinister Angel said:
Capitalism would mean not requiring insurance. Believe me, prices would drop..
True, to a point. My insurance is included with the plates when you buy them. But that's only a 700 dollar deductable for the car. I go to a private insurance company also and have a 200 dollar deductable that I pay an extra 125 dollars for. But I don't have to bother with the private insurance if I don't want to.

A lot of this money also goes into road repair, street signs, etc. so it's all part of a better driving experience maybe.
 

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This has nothing to do with oil prices of course...

"Henderson was critical of the oil industry, which is posting record profits. The world's four largest oil companies have rung up more than $97 billion in profit since 2003. "If you have got that much profit, you could invest in more refineries to help the supply," he noted."


Read the entire article for some clarity on the situation:

Clarity on the situation...
 
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