Oil company profits

[grouch]

Boy howdy, I'll bet this topic gets hot quick.

I wouldn't have a problem with high profits if the oil companies would use them to improve infrastructure or look for more oil. They aren't. About a year ago, the Alaskan pipeline had a major leak because maintenance hadn't been kept up. There's a machine called a "blind pig" that is sent through the piping to check for corrosion. It was well overdue and the pipe failed. Typical big business. Keep the fat profits rolling in and push maintenance back until it can't be ignored and hope you made ,ore profit than the repairs will cost.

[Eric]

Boy howdy, I'll bet this topic gets hot quick.

I wouldn't have a problem with high profits if the oil companies would use them to improve infrastructure or look for more oil. They aren't. About a year ago, the Alaskan pipeline had a major leak because maintenance hadn't been kept up. There's a machine called a "blind pig" that is sent through the piping to check for corrosion. It was well overdue and the pipe failed. Typical big business. Keep the fat profits rolling in and push maintenance back until it can't be ignored and hope you made ,ore profit than the repairs will cost.

I have more of a problem with the policies that have led to the gutting of the country's manufacturing base, the wholesale exportation of our wealth to China and the attendant collapse in value of the dollar. Ditto The Chimp's war - which is costing us titanic sums of money (in addition to wasting an unbelievable amount of oil every day to feed the military, which drives up prices even more) that could have been put to countless better uses, including being left in our pockets.

It is incredible to me that The Chimp hasn't been run out of Washington on a rail.

[swamprat]

I don't care what the oil companies make as long as we can get the damned fuel. Of course, if it goes to 10 bucks, no one will be able to get it.

[Eric]

I don't care what the oil companies make as long as we can get the damned fuel. Of course, if it goes to 10 bucks, no one will be able to get it.

I think that $5 is the point at which we will begin to see more than just grumbling; at $10 per (if that happens) we will be seeing an economic collapse. Millions of people in the suburbs will no longer be able to afford driving to work (or pay for food/heating, etc.). Think the housing market downturn is bad now? Wait and see how $10 fuel affects the value of suburban developments and retail complexes. City folk may not have to drive - but they are not immune from doubling or tripling food/heating costs, either.

I understand you can't lay blame for "everything" at the feet of The Chimp. But would we be at $4 per gallon had we not invaded Iraq? Had we prevented another 10-20 million illegal aliens from coming into the country? Had we done something about "trade" with China back in 2000? Had action been taken circa 2000 to stave off the housing bubble triggered by shockingly, egregiously dangerous Fed "easy credit" policies and repeal of safeguards that for 50 years made it harder for shyster speculators to manipulate/"securitize" debt?

I highly doubt it.

The Chimp will be remembered (by those who are left standing) as the worst president this country has ever had.... at least, so far.

[swamprat]

I don't care what the oil companies make as long as we can get the damned fuel. Of course, if it goes to 10 bucks, no one will be able to get it.

I think that $5 is the point at which we will begin to see more than just grumbling; at $10 per (if that happens) we will be seeing an economic collapse. Millions of people in the suburbs will no longer be able to afford driving to work (or pay for food/heating, etc.). Think the housing market downturn is bad now? Wait and see how $10 fuel affects the value of suburban developments and retail complexes. City folk may not have to drive - but they are not immune from doubling or tripling food/heating costs, either.

I understand you can't lay blame for "everything" at the feet of The Chimp. But would we be at $4 per gallon had we not invaded Iraq? Had we prevented another 10-20 million illegal aliens from coming into the country? Had we done something about "trade" with China back in 2000? Had action been taken circa 2000 to stave off the housing bubble triggered by shockingly, egregiously dangerous Fed "easy credit" policies and repeal of safeguards that for 50 years made it harder for shyster speculators to manipulate/"securitize" debt?

I highly doubt it.

The Chimp will be remembered (by those who are left standing) as the worst president this country has ever had.... at least, so far.

Yes. The chimp will be remembered as the worst thus far. I don't think that a Gore administration would have done anything about China or the illegals either. Ditto the housing market, which was spurred by money creation by the Fed and safeguard repeal. We probably wouldn't have gone to war with Irack and instead would have continued the bombing campaigns from the air as Cliton did for 8 years.

The economy would likely be in even worse shape today, as our unemployment problem has basically been exported to Iraq. Over the last 8 years, we have had a significant military buildup because of the war and many hundreds of thousands of people are doing contracting work over there instead of being unemployed here.

On the other hand, gas prices would probably have stayed at roughly $1.50-2.00 per gallon as this debt boom wouldn't have spurred Chinese growth as fast as it has, putting strains on the world oil supply. That would have helped the economy and probably have prevented 35 mpg cafe....

Yeah, Bush has left this country a mess along with leaving us with a Demonrat majority to screw things up.

[Eric]

I don't care what the oil companies make as long as we can get the damned fuel. Of course, if it goes to 10 bucks, no one will be able to get it.

I think that $5 is the point at which we will begin to see more than just grumbling; at $10 per (if that happens) we will be seeing an economic collapse. Millions of people in the suburbs will no longer be able to afford driving to work (or pay for food/heating, etc.). Think the housing market downturn is bad now? Wait and see how $10 fuel affects the value of suburban developments and retail complexes. City folk may not have to drive - but they are not immune from doubling or tripling food/heating costs, either.

I understand you can't lay blame for "everything" at the feet of The Chimp. But would we be at $4 per gallon had we not invaded Iraq? Had we prevented another 10-20 million illegal aliens from coming into the country? Had we done something about "trade" with China back in 2000? Had action been taken circa 2000 to stave off the housing bubble triggered by shockingly, egregiously dangerous Fed "easy credit" policies and repeal of safeguards that for 50 years made it harder for shyster speculators to manipulate/"securitize" debt?

I highly doubt it.

The Chimp will be remembered (by those who are left standing) as the worst president this country has ever had.... at least, so far.

Yes. The chimp will be remembered as the worst thus far. I don't think that a Gore administration would have done anything about China or the illegals either. Ditto the housing market, which was spurred by money creation by the Fed and safeguard repeal. We probably wouldn't have gone to war with Irack and instead would have continued the bombing campaigns from the air as Cliton did for 8 years.

The economy would likely be in even worse shape today, as our unemployment problem has basically been exported to Iraq. Over the last 8 years, we have had a significant military buildup because of the war and many hundreds of thousands of people are doing contracting work over there instead of being unemployed here.

On the other hand, gas prices would probably have stayed at roughly $1.50-2.00 per gallon as this debt boom wouldn't have spurred Chinese growth as fast as it has, putting strains on the world oil supply. That would have helped the economy and probably have prevented 35 mpg cafe....

Yeah, Bush has left this country a mess along with leaving us with a Demonrat majority to screw things up.

The Iraq war by itself is the single biggest "driver" of both gas prices and the plummeting value of the dollar - because of the massive cost/indebtedness it has incurred. Estimates on the low side exceed $1 trillion dollars (that's one thousand billion dollars) while the higher projections are in the $3 trillion range. It will bankrupt the country.