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  • Don't Ever Believe Them

    Just read the latest calculation for oil spillage in the Gulf is 4.9 million barrels.

    A good thing though, is there has not been a price spike in fuel costs for consumers.

    They are able to lose 4.9 million barrels of oil, setup a 20 billion dollar fund, and pay whatever to get this thing under control, while not causing drastic price increases at the pump. Sounds good, right?

    Wrong. I've studied the oil trading market some. It seems to completely debunk everything they've said in the past justifying increases at the pump. Refinery down, not enough refineries, this broke, storm caused that.

    All lies. I'm glad prices are not increasing dramatically (Today ). But if the things the oil companies have listed in the past have caused such erratic behavior to the end user's costs plus claims of shortages, then this episode should do the exact same thing.

    Only problem is they have a PR nightmare on their hands this time so can't lie about it as much. Liars.

    J.C.

  • #2
    Re: Don't Ever Believe Them

    When they are ready to lie, or raise prices they will! What choice do we have but to pay, pay ,pay? I think they are being real nice about the spill considering we are powerless to do anything! It's shark week on tv, but for Americans who need gas for their cars and heating oil for their homes, it's shark week all year long, and we are on the bottom of the food chain.

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    • #3
      Re: Don't Ever Believe Them

      I guess understanding the "why?" of the prices not being raised, is also in understanding the infinitesimal amount that this 4.9 million barrels represent. According to the NPR News report that I heard this morning, it is less than five days consumption in the U.S.

      On the grand scale of such consumption, it's barely a "drop in the bucket" so to speak.

      But of course, it is surprising that the oil companies haven't used it as an "excuse"... they certainly seem to have a reputation for doing that. I largely suspect that in light of the damage (physical and psycological) that was occuring to the reputation and concern forf all the oil industry, they simply didn't DARE!

      Perhaps you may have also noticed that the ever-present TV commercials by the American Petroleum Industry suddenly disappeared too. I guess they felt a bit uncomfortable telling us how "green" they were for America, while at the same time the Gulf was being turned into an oil reservoir.

      CWS

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