tag:blogger.com,1999:blog-8358039.post111696657552945472..comments2024-03-25T15:17:04.488-07:00Comments on Captain Capitalism: Big Oil, Time for a ReviewCaptain Capitalismhttp://www.blogger.com/profile/05620212946121617985noreply@blogger.comBlogger9125tag:blogger.com,1999:blog-8358039.post-1169417969097302142007-01-21T14:19:00.000-08:002007-01-21T14:19:00.000-08:00Captain CapitalismYour analysis doesn't examine th...Captain Capitalism<BR/>Your analysis doesn't examine the actual oil in barrels being bought and sold by the United States. Reserves are an entirely different matter. Controlling production (by limiting it) is the oldest game around. They control it in numerous ways including the phony peak oil theory, a bottleneck in refinery capacity, (effects the gas price) capping production here at home, and the sanctions against Iraq and more recently the war which lowered production.Billhttps://www.blogger.com/profile/11417789490623803171noreply@blogger.comtag:blogger.com,1999:blog-8358039.post-1132555409686924542005-11-20T22:43:00.000-08:002005-11-20T22:43:00.000-08:00If you ran for president, I would vote for you.Unf...If you ran for president, I would vote for you.<BR/><BR/>Unfortunately, despite being a good president, people's feelings would be hurt by your bluntness.<BR/><BR/>Of course, because they can't handle the truth, they will suffer a miserable Soviet Union fate, which of course is way worse than having their feelings hurt, but I'm just explaining why it would happen that way.Captain Capitalismhttps://www.blogger.com/profile/05620212946121617985noreply@blogger.comtag:blogger.com,1999:blog-8358039.post-1132350205761836092005-11-18T13:43:00.000-08:002005-11-18T13:43:00.000-08:00Hilary the man-hating socialist totalitarian was P...Hilary the man-hating socialist totalitarian was PMSing Congress on this very issue. Likely show-boating for the Stalin-esque presidency based on promising the ilazy selfish stupid masses all sorts of goodiews from the evil rich and corporations.<BR/><BR/>Problem is once they start messing with this volatile free market, we can expect more problems. I would expect fuel shortages and long lines to fill the tank. Who knows, maybe we can give gas credits to the poor. Some assholes in Congress want to subsidize digital TV for the poor. Real fucking essential.The Mad Doctorhttps://www.blogger.com/profile/05730700399361186403noreply@blogger.comtag:blogger.com,1999:blog-8358039.post-1117142038031425162005-05-26T14:13:00.000-07:002005-05-26T14:13:00.000-07:00Yeah, but something tells me that this kid's desir...Yeah, but something tells me that this kid's desire to complain and fashion himself as an underdog crusader fighting big oil supercedes his desire to learn the truth of any matter, thus he wouldn't be too receptive to discussing how commodity prices behave on margins.Captain Capitalismhttps://www.blogger.com/profile/05620212946121617985noreply@blogger.comtag:blogger.com,1999:blog-8358039.post-1117127118163842642005-05-26T10:05:00.000-07:002005-05-26T10:05:00.000-07:00I guess you could blame the U.S. on the front that...I guess you could blame the U.S. on the front that OPEC got its genesis based on the Texas Railroad Commission model. <BR/><BR/>But I know that's not what the hippie meant. And I'm sure he even knows what the word "margin" means and what its relationship is to the overall price of oil.Dwighthttps://www.blogger.com/profile/13688525659034403580noreply@blogger.comtag:blogger.com,1999:blog-8358039.post-1117036194971373882005-05-25T08:49:00.000-07:002005-05-25T08:49:00.000-07:00Again, you no doubt are correct. In controlling t...Again, you no doubt are correct. In controlling the distribution and refining of oil BP, Exxon Mobil, etc., can affect prices in local markets, but not the price quoted on the commodities markets. Furthermore, where the price of high oil is of particular annoyance, the US is not subject to one supplier. Citgo (Venezuela) can decide to keep supplying if it so chooses. And local players (here we have SA, Holiday, etc.) can continue to supply as well. In otherwords, sure, big oil might have a short term, termporary control, but ultimately those who have the oil control the price. <BR/><BR/>But another issue is refining. Many thanks to environmentalists, localized pricing is erratic and somewhat high. Malibu was highlighted as one of the few areas to have $3.00+ gas. This thanks to 1. no new refineries being built and <BR/>2. All the different environmental regulations (additives, detergents, etc.) required at the state, county and municipal level to be sold (here in Minneapolis, I always go north to Anoka County to get gas as they have lesser regulations on the gas). So it's not just big oil that can affect the local markets, but environmentalist goofs as well.<BR/><BR/>And yes, you're right. If Canada could ever find a way to extract the oil from the sand in an affordable manner, you would dwarf the production of even Saudi Arabia. Certainly would welcome the day to support the Canuks than Islamofacists.Captain Capitalismhttps://www.blogger.com/profile/05620212946121617985noreply@blogger.comtag:blogger.com,1999:blog-8358039.post-1116993493767623212005-05-24T20:58:00.000-07:002005-05-24T20:58:00.000-07:00Captain, your point now clarified is taken, I am i...Captain, your point now clarified is taken, I am in agreeance with you. The US oil companies do not conspire to keep the price of oil high, nor do they have any serious influence in the prices of oil. It is a global market as you say.Peter Thurleyhttps://www.blogger.com/profile/02184922036486754709noreply@blogger.comtag:blogger.com,1999:blog-8358039.post-1116990070754045312005-05-24T20:01:00.000-07:002005-05-24T20:01:00.000-07:00No, you're right. It is because of the oil that t...No, you're right. It is because of the oil that the US and Saudi's have a "good" relationship (in business any way), but I don't think the relationship is as conspiratorial or bad as the Michael Moore's of the world would like you to believe. <BR/><BR/>Look at it from the other end. The Saudi's certainly don't want the US to suffer because we're their largest customer. Without the US (which consumes roughly a quarter of the world's oil), all their wealth and future revenues would disappear. They want us to keep growing and stay healthy so we continue to consume their oil and keep oil prices reasonably aloft(unlike, say, Venezuela where Hugo Chavez would like to see the US collapse). This doesn't mean the US has control or somehow conspires with the Saudi's, it's just the obvious fact we're the largest economy in the world and they have the most oil in the world.<BR/><BR/>My whole point with this is that protestors' angst is misplaced when they blame the likes of Exxon or Chevron when they are just such small players when it comes to controlling the price of oil. What really raises my ire is when they lob Halliburton into this group (which has nothing to do with oil itself, just petroleum engineering). I'm just trying to unhitch the notion that somehow US oil companies have some kind of sway over the price of oil.Captain Capitalismhttps://www.blogger.com/profile/05620212946121617985noreply@blogger.comtag:blogger.com,1999:blog-8358039.post-1116988908435929212005-05-24T19:41:00.000-07:002005-05-24T19:41:00.000-07:00Captain, one thing I am concerned about is that th...Captain, one thing I am concerned about is that the largest part of the pie belongs to the Saudi's. I know you'll probably accuse me or being indoctrinated by Moore, but thats not the case. We all know that the USA has business ties with the Saudis and we all know that their oil holdings are a major reason for the close ties. Perhaps the USA only has actual ownership of 2% of the worlds oil. But their influence as the worlds most powerful nation extends beyond what they actually own. I think there is a point to be taken in the comment 'X was fone for oil's sake' even if the only point we do take is that the USA often operates with its best financial interests in mind: it nees to maintain its influence and accessibility to oil store that it does not have ownership deeds to.<BR/><BR/>Unfortunately, financial interests sometimes supercede the interests of people. Which is the primary locus of my disagreement with capitalism as a whole.Peter Thurleyhttps://www.blogger.com/profile/02184922036486754709noreply@blogger.com