First off, the prices are high because of speculative bidding... Thing is, oil is no longer a commodity -- it's a necessity.
2.60 a frickin gallon! 2099On Wed, 17 Aug 2005 01:13:10 +0100, "Beav" Not only that, but they look at the sources too, to see if they're credible. they'll laugh at...
2.60 a frickin gallon! 2100Laura Bush liquidateed her boy friend OK, lets do the math.... 30 mpg for 120 miles means 4 gallons of gasoline per day. If the...
"life, liberty, and the pursuit of happiness"
Like it or not, none of those can be acheived in 2005 without the use of a motor vehicle.
I'm not (yet) saying that the Gov't should step in and subsidize oil, but the Federal Trade Commission is charged with protecting consumers and preserving compebreastive balance in industries. Bush's current hand-picked chair of the FTC (as well as previous chairs) has allowed oil & gas companies to rapidly merge, close refineries, and reduce compebreastion. This leads to price increases.
For starters, the FTC needs to be more aggressive both in merger approval, and policing consolidated industries. In markets where there is already a very high concentration, we need to take a close look at what's happening in those industries on a regular basis, not only looking at mergers, but also looking at conduct that occurs within those markets.
Note: there is only ONE democrat on the current FTC roster!
Why isn't the FTC preventing refinery closures? Why isn't the FTC trying to stop "redlining" ( a process in which suppliers refuse to sell gasoline to distributors in areas considered poor risks)?
Since 2001, the REPUBLICAN CONTROLLED FTC imposed NO conditions on 28 of 33 oil company mergers since 2001.
