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  engineer3 months, 1 week ago

  Another snow job!! According to the CEO of Royal Dutch Shell, there is NO shortage of oil. You haven't seen a gas station out of fuel. It is market PSYCHOLOGY

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    Xaos3 months, 1 week ago

    That is why OPEC keeps refusing to increase their quotas, they have figures that the supply of oil is sufficient for the current demand. Back in March our crude oil and gasoline stockpiles were at 16 year highs. Demand has been on a fairly sharp downturn because of high prices and the economic slowdown. They just keep feeding us the same crap and expect us to believe it like good little sheepole.

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  Amazing13 months, 1 week ago

  These yahoos will say anything to prop up the dollar for yet another quarter. They will not address the question of peak oil. Over Memorial Day weekend I was in a gas station that was limiting purchases to $50.00 per customer. Glad to see there's no shortage.

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  cowboygrandpa3 months, 1 week ago

  Yeah it's all supply and demand. They won't supply it until their demand for the price they seek is fulfilled.

  What a bunch of armed robbers these clowns are. Our men and women fighting in Iraq are their protection.

  To me the real shortage is on true patriotism from the Bush administration. They are holding the middle class and working poor hostage for big oils profit.

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  Teech3 months ago

  Supply and demand my ass.

  Unless you mean the demand for more dollars since Bushie's tax give away to the ultra rich and his gold mine war in Iraq has bankrupted the country, and Paulson's demand that the treasury just keep on printing more and more and more devalued dollars.

  The only thing in plentiful supply in this inept, corrupt administration is lies and bullsh!t.

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  Tcaros3 months ago

  Get rid of Bush and Cheney and the prices will come down. It's the wall street speculators and bankers that are making the money. They're stockpiling money for future bribery and corruption schemes.

  Don't vote for McCain, unless you want to pay $6.00/gal.

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  OldHickory3 months ago

  There is something obscene about a corporation reporting quarterly multi-billion dollar profits and then 'crying poor' when they are criticized for the continuing upward spiral in the price per barrel of oil. They can make all the excuses in the world but as far as I am concerned the oil companies rank below used car salesmen and George Bush in popularity polls and at the absolute bottom as far as believeability is concerned.

  Assuming Congress has the balls to do so, how about creating a windfall profits tariff? If the bill is written with a little forethought I'm sure there can be a provision that prevents the cost from being passed on to the consumer. And if they're really smart they will figure out a way to refund those windfall profits to the consumer.

  At what point does the oil cartel feel they will have enough money to control the economies (and politics) of most of the countries in the world that depend on oil to drive those economies?

  Supply & demand is a bull$hit excuse.

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    simonsez3 months ago

    Yeah, in addition to stopping them from drilling, lets take away their profits so they can't expand their supply anywhere.

    That's a good government policy ...

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    simonsez3 months ago

    Yeah, in addition to stopping them from drilling in prime areas and building refineries, lets take away their profits so they can't expand their production anywhere. When there are real shortages, that'll teach 'em!

    Government can find some really good uses for that tariff money.

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    Xaos3 months ago

    A windfall profit tax will not work with this situation, big oil as already hinted about there being a return to "lines at the pump" like in the 70's. What needs to be done is to plug the loopholes that are being used to run up prices and bust up a few of these monopolies.

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  HMMace3 months ago

  As long as the big oil continues to try to get by with no more refinerys..oil --rather- gas--prices will rise..As our population increases we need more refinerys to make it..no refinerys,,higher prices,,just like big oil likes

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  simonsez3 months ago

  This adds an additional twist to the mix ...

  http://www.nytimes.com/2008/06/02/business/02tr...

  I hope this doesn't happen.

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  nikkibabe3 months ago

  That is right. The OIL LOBBY is still occupying the White House.

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  quackpot3 months ago

  Price of oil increases since 2004 (price was stable for 20 years prior to 2004):

  --Falling value of dollar (thanks to the money printers in the White House)

  --Instability in the middle east (oil prices started their upward spiral shortly after Bush's Iraq fiasco began)

  --Increased demand.

  Now, I wonder why Mr Paulson wants to discount the two LARGE contributors to the price increase?

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