Ed Koch Brushed me off
Posted May 10th, 2008 by StevenNYC
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Ed Koch Brushed off today! The theme on his radio talk today was about the price of oil. So I decided to call, and when i finally got through and started to talk about the devaluation of the US dollar and its affect on the world economy and the price of oil I was basically brushed off and he went right to the next caller. What a prick. He thinks oils companies should be sued for making profits. LOLOLOLOL
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Your argument only explains a limited amount of price increases
The amount of inflation in the last decade does not wholly explain the rise in oil. We're talking about 500% increase, with 40%ish inflation (you could probably find studies which show it's higher, but not in the 500% neighborhood)
Global demand doesn't explain it away either...it's been relatively steady for 2 years now.
The reason oil has gone from 70 to 120 per barrel? People think it's worth that much...due somewhat from people dumping money away from derivatives and currency markets to what they think is more stable...but oil is not immune to overspeculation. It will come down, starting in June of this year.
Not sure who Ed Koch is...but he's a real moron if he wants to tax profits. Oil profits go down, and we pay the difference at the pump. If he wants to tax oil profits, why not just skip the middle man and increase the national gas tax.
Not really
I dont blame them for adjusting their prices for inflation. Why should oil producers take a profit loss just because America decides to inflate its currency.
I hear them do it all the time
These jerks on radio will not allow a Ron Paul caller to speak to completion. But good that you got in what you did. Everyone was undoubtedly on your side and recognized the brush off.
I'm hoping I got the
I'm hoping I got the attention of at least a couple hundred thousand listeners.
Socialist thinking
Sure, the oil companies are making a killing. I am disgusted. But, that is not the problem and we know it. Too bad people don't focus on the real issues. We will all suffer for it.
Healthnut4freedom
"Trust in the Lord with all thine heart; and lean not unto thine own understanding. In all thy ways acknowledge Him, and He shall direct thy paths." Proverbs 3:5,6
They are making a killing
They are making a killing because its a CARTEL.
Opec - thanks.
There are two types of capitalism. Monopolistic and Competitive!
Monopolistic is the current situation. And it sucks balls. It's not the proper role, the us constitution outlined.
No, that's not why
High profits in oil refining is due to inability to accurately predict demand. Oil companies buy the crude on a longterm contract. If demand goes up later, they are still able to buy it at that price, which gives them great profits. If the crude suppliers (the OPEC cartel) could have accurately forecast the high demand then they would haved charged a higher price to the refiners, which would have reduced the profits of the refiners and increased the profits of crude suppliers (or OPEC) instead. When OPEC fails to anticipate the magnitude of future demand, that's when American oil companies make the big money.
I like high profits going American refiners and stockholders than to OPEC.
Why disgusted?
Why are you disgusted that oil companies are making a killing?