
Originally Posted by
Buzzworthy
At least there are a few people here who understand what is going on.
Unfortunately and fortunately I get info straight from the horses mouth.
My dad worked for Mobil his whole carreer. A colleague is an exec at Exxon Mobil.
A few comments from the exec the other day with just a hint of sarcasim:
Who caused all this rise in crude oil & gasoline prices? Those mean ole' obscene oil companies, that's who! Yep, they all met in secret and agreed to set the price at $126.00/ barrel to deliberately raise the prices on the open market and then sell only to China and India so to starve the US of cheap oil and gasoline and make everybody in the US mad as hell! They also deliberately refused to build anymore refineries for over 10 years ago so as to develop more demand on produced gasoline and make US people suffer, cause higher diesel prices for truckers, higher jet fuel prices for airlines so the oil companies can make so much more money --- a whole 8 cents profit on every dollar earned. Although the banking industry makes about 18 cents on every dollar earned, the oil companies decided that searching literally all over the world (i.e., Nigeria, Angola, Equatorial Guinea, North Sea, Bearin Sea, Shakiland island in Russia, etc.) was better than going into the banking business. Yea, they have been so pleased to look all over the world rather than explore for cheap oil in our own backyard where known oil & gas reserves exist (i.e., Off the East & West Coasts, offshore Florida, massive reserves in Alaska, our Nalt. Parks, etc.) Yep, that's exactly what they have done to us, those obscene profit hungry bastards. Gee, maybe Wal-Mart will give some of their profits to the government or oil companies so they can reduce the prices at the gas pump for us citizens. Maybe Canada, Mexico, Saudia Arabia, Iraq, Russia, Indonesia, Iran, Venezuela, etc. will reduce their crude oil prices so we will be able to produce gasoline at a cheaper price, or maybe the oil companies will go in the "RED" and produce gasoline at a lower cost than what it takes to refine and transport the gasoline to the service stations. That way, the oil companies can eventually eliminate their profits, stop anymore exploration for oil and eventually go bankrupt. Sure, that will do it! Then we can buy direct from foreign oil companies and I'm sure they'll sell their gasoline and a lower cost, because they are our friends. Yea, that's the solution! Now we got it!
Another comment from inside the business:
We (America) need to recognize the problems we have put ourselves in by not allowing drilling of our own oil reserves and not allowing the building of refineries. The last numbers I heard is that it costs $2-4 Billion to build a refinery...and the time to completion (with all the environmental permitting) is about 10 years. Also, an offshore oil well in deep waters used to be in the $1-2 Billion range...who knows where it is now. Oil companies just won't invest like that in America until we (the people) finally change our minds and invite them back.
We have done ourselves in during my lifetime. Our kids and grandchildren will not have a chance of experiencing the wonders that many of us have had during our generation. Many of them will likely spend their years "stuck" close to home...will little chance of traveling and living in different parts of the USA and even less chance of seening different parts of the world. It will be like going back a 100 years or so.
Quite frankly, I don't even know if it can be turned around...and it really never had to be that way.
Bookmarks