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You All Screwed Yourselves!!
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<blockquote data-quote="BrownShark" data-source="post: 261670" data-attributes="member: 12148"><p>"When Bill Clinton allowed the oil companies merge (Exxon Mobile, Chevron Texaco, etc) oil was about $10 or $15/barrel. The price could only go up for 3 main reasons. </p><p> </p><p>1. $10-$15/barrel is obscenely low and could only go up from there.</p><p>2. Oil company mergers mean less competition which in turn means higher prices. </p><p>3. The United States has not increased refining capacity since the 1970s (thank you environmentalists and the Democrats they own) while demand for gasoline was growing from economic prosperity and population increases. Insufficient refined product means either shortages which require rationing and high prices or import refined product which raises prices. </p><p> </p><p>It doesn't take a rocket scientist to figure this out."" (END QUOTE)</p><p> </p><p>Char,</p><p> </p><p>Your facts and data in this synopsis are incorrect. Quite humorous indeed. When Clinton Left office, the price of crude was sitting at $25.00 a barrel and the average price of gas during his administration never went above $1.65 a gallon.</p><p> </p><p>Lets go back into the way back machine for a second and take a look at what happened to the gasoline markets.</p><p> </p><p>During Reagan, gasoline companies were growing at an alarming pace. </p><p> </p><p>Competition for the customers resulted in price wars at stations across the USA, I doubt if you were even in diapers at this time.</p><p> </p><p>This was good for the consumers and the station owners who were making about 15 cents per gallon profits. </p><p> </p><p>For the Oil companies, profits were not high enough, refining capacity at this time was set at 4% per refinery. (there were 96 refineries at the time)</p><p> </p><p>As Reagan left the White House in a shambles, Bush 1 took control, he being an oil man with many oil friends, got together with his coalition of energy staff (all OIL COMPANY EXECUTIVES) and created the countrys new energy plan for the next 4 years.</p><p> </p><p>The first thing on the agenda was the SHUTTING DOWN OF 37 REFINERY PLANTS IN THE USA. This was not due to environmental concerns or left wing wackos or psyco actors bent on keeping the environment safe.</p><p> </p><p>This was about PROFIT. You see, my young impressionable friend, refineries were only operating at a 4% capacity at the time, and that kept the supply of gas plentyful and without interuption.</p><p> </p><p>Wall Street was demanding higher profits from its oil sectors and the way to accomplish this was to reduce the number of refineries and increase the operating capacity of each refinery to around 40%.</p><p> </p><p>This instant gain made oil raise sharply over his term and the oil industry began to learn how to manipulate the markets.</p><p> </p><p>When Bush was finally tossed back to Texas, President Clinton took control and was faced with a hostile OPEC, who in connection with the Bush staff and represented by former white house chief of staff JAMES A. BAKER (personal lawyer for the Saudi Oil shieks) tried to get Clinton to maintain the rising cost of oil.</p><p> </p><p>Clinton refused and opened up the reserves as opec cut production in order to cause fuel prices to go up. This action caused the prices to drop and Clinton was able to stablize fuel prices for 8 years.</p><p> </p><p>Under Bush 2, the cost of oil per barrel is reaching $100 dollars a barrel, great for investors, bad for the economy and its citizens. The refining capacity at this time cannot handle the demand side for fuel here in the states and this was by design not coincedence. This you can thank Bush 1 for accomplishing.</p><p> </p><p>Fuel today is causing americans financial hardships across this country. </p><p> </p><p>No one in the Bush administration seems to care, and before you blame environmentalists for preventing new refineries, remember this, there is no incentive for oil companies to do so.</p><p> </p><p>This would bring the price of fuel down to levels around $1.50 a gallon.</p><p> </p><p>Your oil investments wouldnt be so wise then.</p><p> </p><p>Peace.</p></blockquote><p></p>
[QUOTE="BrownShark, post: 261670, member: 12148"] "When Bill Clinton allowed the oil companies merge (Exxon Mobile, Chevron Texaco, etc) oil was about $10 or $15/barrel. The price could only go up for 3 main reasons. 1. $10-$15/barrel is obscenely low and could only go up from there. 2. Oil company mergers mean less competition which in turn means higher prices. 3. The United States has not increased refining capacity since the 1970s (thank you environmentalists and the Democrats they own) while demand for gasoline was growing from economic prosperity and population increases. Insufficient refined product means either shortages which require rationing and high prices or import refined product which raises prices. It doesn't take a rocket scientist to figure this out."" (END QUOTE) Char, Your facts and data in this synopsis are incorrect. Quite humorous indeed. When Clinton Left office, the price of crude was sitting at $25.00 a barrel and the average price of gas during his administration never went above $1.65 a gallon. Lets go back into the way back machine for a second and take a look at what happened to the gasoline markets. During Reagan, gasoline companies were growing at an alarming pace. Competition for the customers resulted in price wars at stations across the USA, I doubt if you were even in diapers at this time. This was good for the consumers and the station owners who were making about 15 cents per gallon profits. For the Oil companies, profits were not high enough, refining capacity at this time was set at 4% per refinery. (there were 96 refineries at the time) As Reagan left the White House in a shambles, Bush 1 took control, he being an oil man with many oil friends, got together with his coalition of energy staff (all OIL COMPANY EXECUTIVES) and created the countrys new energy plan for the next 4 years. The first thing on the agenda was the SHUTTING DOWN OF 37 REFINERY PLANTS IN THE USA. This was not due to environmental concerns or left wing wackos or psyco actors bent on keeping the environment safe. This was about PROFIT. You see, my young impressionable friend, refineries were only operating at a 4% capacity at the time, and that kept the supply of gas plentyful and without interuption. Wall Street was demanding higher profits from its oil sectors and the way to accomplish this was to reduce the number of refineries and increase the operating capacity of each refinery to around 40%. This instant gain made oil raise sharply over his term and the oil industry began to learn how to manipulate the markets. When Bush was finally tossed back to Texas, President Clinton took control and was faced with a hostile OPEC, who in connection with the Bush staff and represented by former white house chief of staff JAMES A. BAKER (personal lawyer for the Saudi Oil shieks) tried to get Clinton to maintain the rising cost of oil. Clinton refused and opened up the reserves as opec cut production in order to cause fuel prices to go up. This action caused the prices to drop and Clinton was able to stablize fuel prices for 8 years. Under Bush 2, the cost of oil per barrel is reaching $100 dollars a barrel, great for investors, bad for the economy and its citizens. The refining capacity at this time cannot handle the demand side for fuel here in the states and this was by design not coincedence. This you can thank Bush 1 for accomplishing. Fuel today is causing americans financial hardships across this country. No one in the Bush administration seems to care, and before you blame environmentalists for preventing new refineries, remember this, there is no incentive for oil companies to do so. This would bring the price of fuel down to levels around $1.50 a gallon. Your oil investments wouldnt be so wise then. Peace. [/QUOTE]
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