So basically the oil companys can go up on the oil price when the demand for gas is LOW or the demand is HIGH?

Must be nice if u sell more u make a profit. If u sell less U make a profit.So basically the oil companys can go up on the oil price when the demand for gas is LOW or the demand is HIGH?
Unfortunately, they have us by the shorthairs. Instead of the government doling out dollars for alternative energy sources, the private companies should be doing all of the research for that cause. Because of the government, we are stuck.


Not only that, we have the largest coal resources in the world and we aren't using them for power. How stupid is that? That alone would lower oil prices.So basically the oil companys can go up on the oil price when the demand for gas is LOW or the demand is HIGH?
The oil companies do not determine the oil price - it is determined in world markets and there are many players in those markets as large, or larger, than the oil companies. The Chinese government, or OPEC, for instance.





Also, for a company like Exxon, an increase in the price of oil isn't necessarily a good thing. Much of their business is in refining crude oil, which means oil is a cost to them, not a benefit. Same with ConocoPhillips, which, like Exxon, lost a lot of money last quarter in their refining business.





Think of it as the effect of the cost of meat on McDonald's. If beef becomes more expensive, they make less money selling you a hamburger, not more.
oil companies themselves have less to do with the price per gallon than the market speculators.





Remember when gasoline broke the $4 barrier ?... that was literally caused by a single BUY ! A single investor wanted to be the one who broke the price barrier so he made a large call on oil futures. Of course it would have gone over 4 regardless, but definitely it shows the amount of influence oil traders have.





There are a lot of factors though, that ultimately decide the price at the pump...





I personally look forward to an America where the words ';gas station'; are only heard when watching old movies.
That the oil companies have made a ';record profit'; is exactly what Social Democrats want everyone to believe. Price goes up, not for supply and demand, but the SPECULATION on the supply and demand. Look into the portfolios of these so-called ';green'; Senators and I bet there is some oil stock... once again, another grab for control and regulation over another industry ala Cap %26amp; Trade guise for ';clean, renewable energy';. When are you going to get tired of THIS socialism already? or will it be the day when you can no longer blog without government oversight?
Yes, it is definitely a good business to be in because the demand is not ceasing. You sound like you don't like it though. Hop on a bike if you don't want to pay the price that these businessmen set for their product. What's more unjust people profiting from their business or government taxing the product, doing no work, and collecting from their profit. About 40 cents a gallon of gas comes from taxes. More so, in the liberal states.
all commodities work that way. when farmers have a bumper crop of wheat the price per bushel goes down, when there is a poor crop the price goes up because the demand for each bushel goes up.
Supply and demand is something that is taught in high school economics. It isn't rocket science.
Its not the oil companies. Its the oil producing nations slashing their quotas to stabilize prices.
And they also get subsidies when they make profits and when they don't make profits.





Must be nice for us to pay them TWICE; once by buying gas and the second time by paying taxes.
yep. it sure is nice.





earth will always need oil
that's why it is Essential for governments to intervene in the free market