rich bitch tells us why gasoline prices are so high

[franksolich]

http://www.democraticunderground.com/1002438064

Oh my.

The rich bitch, speaking from within the safety of her affluent gated community down in San Diego:

kpete (33,062 posts) Profile Journal Send DU Mail Ignore
 
why are we paying such HIGH gas prices, you ask?

after which a chart

http://www.flickr.com/photos/speakerpelosi/with/5714066256/

OBAMA:

    ... at a time when big oil companies are making more money than ever before, we’re still giving them $4 billion of your tax dollars in subsidies every year. Your member of Congress should be fighting for you. Not for big financial firms. Not for big oil companies.

    In the next few weeks, I expect Congress to vote on ending these subsidies. And when they do, we’re going to put every single Member of Congress on record: They can either stand up for oil companies, or they can stand up for the American people. They can either place their bets on a fossil fuel from the last century, or they can place their bets on America’s future. So make your voice heard. Send your representative an email. Give them a call. Tell them to stand with you.

http://www.whitehouse.gov/photos-and-video/video/2012/03/17/weekly-address-ending-subsidies-big-oil-companies

liberal N proud (37,893 posts) Profile Journal Send DU Mail Ignore

3. It's all Obama's fault.

Face The Nation today was all about blaming Obama for high gas prices. The are continuing with the flawed rhetoric that the President wants high gas prices. In an election year?

renate (5,987 posts) Profile Journal Send DU Mail Ignore

15. when this happened during Bush's second term, I admit that I thought he had something to do with it

But I think that wasn't an unreasonable assumption, given his and especially Cheney's connections to the industry. It made a certain amount of sense to at least consider the possibility that they were deliberately failing to do something about it (not that I could have guessed what) to make their oil friends happy.

In this case, there's just no logic behind it at all, not even paranoid logic.

liberal N proud (37,893 posts) Profile Journal Send DU Mail Ignore

24. bu$h and cheney were connected to big oil.

That does give credence to the belief many had to their enabling of the higher prices. Add the miraculous drop in prices at the pump near elections. It was easy sell.

To date I have not seen anything tying Obama to oil companies.

on point (634 posts) Profile Journal Send DU Mail Ignore

12. Sloppy thinking and meaningless magnitude numbers

Now I don't all the figures, for all the companies, or how they might haved cooked the books, BUT these numbers by size mean NOTHING without a sense of their profitability.

A quick search on Exxon shows they have 10.68 % return on assets, which I am sorry to say is not extreme.

For instance if they invested 1 Trillion and had a 5% return their profit would be $50 billion. A big number maybe, but not really given the investment size. In fact it would be a mediocre return.

S please think about making the numbers real and in perspective before getting bent out of shape. It is a disservice to rational thought.

just1voice (182 posts) Profile Journal Send DU Mail Ignore

18. "Rational thought" you say, about price-gouging criminals? OK...

They should be arrested, tried and convicted then jailed for their conspiracies to manipulate energy prices and the U.S. government should be leading the charge to arrest them.

That's plain and simple, completely rational.

bhikkhu (6,028 posts) Profile Journal Send DU Mail Ignore

23. They haven't nearly enough of the market to manipulate prices

Calculate what 90 million barrels would cost, and then figure that that is what the world uses every day. The vast majority of that oil is owned and controlled by governments and national interests - even "Big Oil" is pretty small when you compare it to Gazprom, Petrobas, Aramco, PEMEX, etc...

[Chris_]

renate (5,987 posts) Profile Journal Send DU Mail Ignore

15. when this happened during Bush's second term, I admit that I thought he had something to do with it

But I think that wasn't an unreasonable assumption, given his and especially Cheney's connections to the industry. It made a certain amount of sense to at least consider the possibility that they were deliberately failing to do something about it (not that I could have guessed what) to make their oil friends happy.

In this case, there's just no logic behind it at all, not even paranoid logic.

You guys are so full of shit, your eyes are brown.  You DU clowns blamed (and still blame) George Bush for everything under the sun that happened on his watch from gas prices to the common cold.

Idiots.

[JohnnyReb]

"Lets penalize a proven technology so we can subsidize junk science and an unproven technology". ...DUmmies.

[jukin]

Two words: DEMOKRAT POLICIES.

[Delmar]

Response to on point (Reply #12)Sun Mar 18, 2012, 12:39 PM
just1voice
18. "Rational thought" you say, about price-gouging criminals? OK...

They should be arrested, tried and convicted then jailed for their conspiracies to manipulate energy prices and the U.S. government should be leading the charge to arrest them.

That's plain and simple, completely rational.

Don't those big oil fat cats know that the only one allowed to manipulate energy prices is Obama?

[Ballygrl]

The Government makes more per gallon of gasoline than the oil companies make.

[Splashdown]

"Lets penalize a proven technology so we can subsidize junk science and an unproven technology". ...DUmmies.

That pretty much worked with global warming, didn't it?

[Kyle Ricky]

The Government makes more per gallon of gasoline than the oil companies make.

HI5

This is so true.

[BlueStateSaint]

You guys are so full of shit, your eyes are brown.  You DU clowns blamed (and still blame) George Bush for everything under the sun that happened on his watch from gas prices to the common cold.

Idiots.

They still do, Chris . . .

liberal N proud (37,893 posts) Profile Journal Send DU Mail Ignore

24. bu$h and cheney were connected to big oil.

That does give credence to the belief many had to their enabling of the higher prices. Add the miraculous drop in prices at the pump near elections. It was easy sell.

To date I have not seen anything tying Obama to oil companies.

[Delmar]

Response to renate (Reply #15)Sun Mar 18, 2012, 03:55 PM
 liberal N proud
24. bu$h and cheney were connected to big oil.

That does give credence to the belief many had to their enabling of the higher prices. Add the miraculous drop in prices at the pump near elections. It was easy sell.

To date I have not seen anything tying Obama to oil companies.

The smoking gun:

On March 16th, President Obama signed a new Executive Order which expands upon a prior order issued in 1950 for Disaster Preparedness, and gives the office of the President complete control over all the resources in the United States in times of war or emergency.

Choke on that, liberal N proud.

[Ballygrl]

This is via google from 2011:

http://www.dailymarkets.com/economy/2011/04/27/gasoline-taxes-vs-exxon-profit-per-gallon/



The map above from API shows gasoline taxes by state (combined local, state and federal), which range from a low of 26.4 cents per gallon in Alaska to a high of of 66.1 cents per gallon in California, averaging 48.1 cents per gallon across all states.  How does that compare to oil company industry profits per gallon?
According to this post on Exxon Mobil’s Perspective Blog , “For every gallon of gasoline, diesel or finished products we manufactured and sold in the United States in the last three months of 2010, we earned a little more than 2 cents per gallon. That’s not a typo. Two cents.” 
The chart below shows the difference graphically:



Exxon also reports that in 2010 it “made less than 8 cents for every dollar of revenue from all of our businesses around the world.”

[Ballygrl]

And to continue my bitchy PMS attitude (post as opposed to pre) we have 200 years worth of energy on our own frigging land, oh and while I'm at it, Obama lied when he said there's more drilling on his watch, umm no! private drilling yes, drilling on federal land? nada zilch zero!

Jerks!

[obumazombie]

Another reason centralized planning doesn't work.

[FiddyBeowulf]

renate (5,987 posts) Profile Journal Send DU Mail Ignore

15. when this happened during Bush's second term, I admit that I thought he had something to do with it

But I think that wasn't an unreasonable assumption, given his and especially Cheney's connections to the industry. It made a certain amount of sense to at least consider the possibility that they were deliberately failing to do something about it (not that I could have guessed what) to make their oil friends happy.

In this case, there's just no logic behind it at all, not even paranoid logic.

WSJ showing Obama doing what he said he would do.

In January 2008, candidate Obama told the San Francisco Chronicle that under his cap-and-trade plan, "electricity rates would necessarily skyrocket." Steven Chu, now Secretary of Energy, told this newspaper in the same year: "Somehow, we have to figure out how to boost the price of gasoline to the levels in Europe." That would be, oh, $10 a gallon.

In March of last year, Mr. Obama reversed or scaled back nearly every major offshore oil opportunity that has come about since the price spike of 2008—effectively reimposing a moratorium on drilling off the coasts. His administration has killed leases in developmentally crucial areas of Alaska. His EPA has refused to issue permits. The White House used the BP oil spill as an excuse to also shut down the deep-water Gulf.

Suck it DUmmies.

[BlueStateSaint]

And to continue my bitchy PMS attitude (post as opposed to pre) we have 200 years worth of energy on our own frigging land, oh and while I'm at it, Obama lied when he said there's more drilling on his watch, umm no! private drilling yes, drilling on federal land? nada zilch zero!

Jerks!

Almost all--99% or more--of the increase in private drilling came from the Bakken deposits in North Dakota.  What's North Dakota's unemployment rate?  Somewhere around 3.6%.

[obumazombie]

Almost all--99% or more--of the increase in private drilling came from the Bakken deposits in North Dakota.  What's North Dakota's unemployment rate?  Somewhere around 3.6%.

Anything less than 5% is considered full employment. You can't give jobs to some people.

[JohnnyReb]

Anything less than 5% is considered full employment. You can't give jobs to some people.

Right, the professionally unemployed. They take it to it's highest form.

[obumazombie]

Right, the professionally unemployed. They take it to it's highest form.

Yes, an art form. Maybe a fine art form.

[AllosaursRus]

on point (634 posts) Profile Journal Send DU Mail Ignore

12. Sloppy thinking and meaningless magnitude numbers

Now I don't all the figures, for all the companies, or how they might haved cooked the books, BUT these numbers by size mean NOTHING without a sense of their profitability.

A quick search on Exxon shows they have 10.68 % return on assets, which I am sorry to say is not extreme.

For instance if they invested 1 Trillion and had a 5% return their profit would be $50 billion. A big number maybe, but not really given the investment size. In fact it would be a mediocre return.

S please think about making the numbers real and in perspective before getting bent out of shape. It is a disservice to rational thought.

Uh oh, I smell a granite cookie in yer future! must not buck the hive!!!

just1voice (182 posts) Profile Journal Send DU Mail Ignore

18. "Rational thought" you say, about price-gouging criminals? OK...

They should be arrested, tried and convicted then jailed for their conspiracies to manipulate energy prices and the U.S. government should be leading the charge to arrest them.

That's plain and simple, completely rational.

Uh, if that's the case, what should we do about your messiah, shuttin' down the rigs in the gulf, puttin' close to a million people outa work, then makin' it so they had to move the oil rigs to a Soros controlled oil company in Brazil, shit for brains?

How 'bout shuttin' down the Canadian pipeline that would have put 10's of 1,000's back to work?

Guess if Cheney and Bush need to be frog marched into court and jailed, BummaNutz, ought to be on death row!!

[Rebel]

Uh oh, I smell a granite cookie in yer future! must not buck the hive!!!

Uh, if that's the case, what should we do about your messiah, shuttin' down the rigs in the gulf, puttin' close to a million people outa work, then makin' it so they had to move the oil rigs to a Soros controlled oil company in Brazil, shit for brains?

How 'bout shuttin' down the Canadian pipeline that would have put 10's of 1,000's back to work?

Guess if Cheney and Bush need to be frog marched into court and jailed, BummaNutz, ought to be on death row!!

And a response to that fascist fruit:

bhikkhu
23. They haven't nearly enough of the market to manipulate prices

Calculate what 90 million barrels would cost, and then figure that that is what the world uses every day. The vast majority of that oil is owned and controlled by governments and national interests - even "Big Oil" is pretty small when you compare it to Gazprom, Petrobas, Aramco, PEMEX, etc...