Why Oil Prices are so high. Bush lowering the supply.

[Quixote1818]

This Greg Palast video should be sent to everyone you know. It's the 3rd video in the latest series and it does a brilliant job at explaining the Bush Administrations plan for Iraq's Oil. Lower the supply to increase profits for big Oil.

The time is right to get this message out. Everyone put this video in a chain email!

http://www.youtube.com/watch?v=0B-ZdF_pfj4&mode=related&search=

[Erika]

1. k and r

[opihimoimoi]

2. Bushys war machine ain't helping one bit...they be sucking up oodles of energy..total waste...

[havocmom]

3. K & R

:kick:

[gravity]

4. That could be part of it

Decreasing the supply might have just come from incompetence rather than planned though. The problem is that the US oil companies would benefit if they used that oil for production rather than just turning the spickets off.

While OPEC members would benefit the most if everyone cooperated and cut back on supply, individual members would make more money if they cheated the system at the expense of others, since they can take advantage of the high prices. It's an unstable system, and it requires the compliance all the other members, including Venezuela and Iran.

Either way, big oil would be making more money though.

[hunter]

5. Or it could just be the awful truth...

... that this is how the petroleum age ends.

That would really suck, wouldn't it?

[radfringe]

6. also see:

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x887704

[Quixote1818]

7. Thanks!

I love this chart:



It shows that while Clinton was president, gas prices were the lowest they have EVER been.

[GliderGuider]

8. Not even Napoleon's quote is good enough for this

Napoleon said, "Never attribute to malice that which can be explained by incompetence."

However, the paraphrase that really applies in this situation is, "Never attribute to malice or incompetence that which can be explained by geology."

The world is starting to run out of oil folks, and geology doesn't give two shits what George W. Bush does. I know it's the fuzzy-warm-incrowd thing to do around here to blame Georgie and the Pirates for everything bad that happens in the world (especially where oil is involved), but this time it's just the markets responding to the fact that the world is starting to run out of oil.

Continuing to insist that it's all the fault of Georgie and the Pirates is going to blind you to the necessity to prepare for major changes in how your world is going to work from now on.

[earth mom]

12. The world may be running out of oil, but make no mistake: EVERYTHING * & Co

does is calculated and planned to the nth degree.

[GliderGuider]

17. Sure, but it doesn't mean they do EVERYTHING.

[newportdadde]

9. Actually its oil companies goughing, not crude availability.

The cost of a barrel of crude is around 62 bucks. In March of 2005, crude was 56 and gas was 2.05. Today gas here is 3.09.

The change from 56 to 62 does not justify a 50% increase in the cost for a gallon of gas based purely on the crude price. Hell crude was over 75$ last year and it didn't make it to 3 bucks.

We are getting screwed by the oil compaines.

[Deja Q]

10. Agreed. And where are the Dems raising their eyebrows?

And where are the Clinton-bashers from x years ago? Can't blame Clinton for the oil hikes of the last 6 years.

It's a game. We're all pawns.

[IronLionZion]

13. Gas was surprisingly affordable when Clinton was president

also, I would gladly pay Clinton's taxes if I could have the jobs, peace, and prosperity that came with it.

[Quixote1818]

14. Based on todays prices, Oil was the cheepest it EVER was under Clinton. nt

[hunter]

11. Game Over. Take the money and run.

That's the most rational business plan if you don't give a shit about anything else.

A market economy can't deal with a problem like this -- this is the sort of problem that MUST be dealt with by some sort of political process.

The most profitable course of action for the invested market players do not coincide with what is best for the people of the nation, or the world.

I think these "refinery shortages" are very consistent with peak oil scenarios. After all, if total oil production reaches some limit and then begins declining, then there is no reason at all to invest in new refineries, or even maintain the equipment you already have except in the most minimal way.

The Alaskan oil pipeline leaks, various refinery accidents, etc., may all be indicative of peak oil, and not of some conspiracy to fleece consumers.

The maximum profit in this case is achieved when consumers are kept in the dark. Less profit is made if consumers start to rearrange society so that the demand for oil is reduced ahead of the physical production decline.

As a market player you want to keep people in their cars as long as you can, and you want to keep your utilities burning natural gas as long as you can, even if it means you have to reassure people with pipe-dreams such as ethanol or wind and solar energy as drop-in replacements for oil and natural gas.

I wish I had some confidence that our leaders have any plans or ability to bring this burning plane in for a soft landing, but I don't think they do. I think they are putting on their parachutes and they are going to jump.

Are there any pilots aboard? It looks like we, the passengers, will have to land this thing ourselves.

[GETPLANING]

15. Price fixing is illegal

Supply manipulation is the loophole.

[Kurovski]

16. K&R. (nt)

[Cobalt Violet]

18. K & R n/t