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Oil & Gas

Warren refinery at full operation

The refinery that supplies much of northwestern Pennsylvania's gasoline was back to normal Tuesday after being hit by fire last week.

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michael
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Judge it!
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#1
Mar 27, 2008
 
Is this the reason gas prices jumped up again.

When is the government going to step in to stop these obscene profits by the oil companys.

As Ross Perot said, hear that sucking sound, our money leaving the US.
Tom
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Judge it!
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#2
Mar 28, 2008
 
You need to learn how the economy works. The oil companies are getting massive profits because you're buying too much of it. Stop buying as much and they won't make as much. Additionally, The dollar is worth less today, therefore oil prices rise and companies get more profits.

And, in the 1970's when the government tried to stop the runaway profits of oil companies it completely backfired. There were massive fuel shortages around the country because of the price controls the government put in place. Take an economics course and learn how supply and demand work as related to price, I'll fill you in on the aspect you're probably referring to: You're only willing to supply an amount of product at each price level, meaning as more is demanded and price goes up, more is supplied, but the reverse happens when prices fall.

Additionally, tax the oil companies and they will stop exploring, meaning later in the future when the current wells dry up, there will be less to supply to us, meaning the price will go up and oil companies will not have the money to explore for new sources because the government has taken it all.

So, be sure to get something out of this and read about it yourself before saying the government should step in and do something about it. Government doing something only hurts everyone.
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