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#1
10-29-2005, 08:10 AM
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Press making Oil companies the enemy
Seen alot of newspapaer stories insinuating oil companies are evil for making huge profits during this time. Oil and gasoline are actively traded on the futures markets so the prices we pay at the pump basically just reflect these prices. Nobody said these companies were noble when gas was around 1 dollar per gallon.
The press is dumb. 
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#2
10-29-2005, 11:01 AM
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Re: Press making Oil companies the enemy
Yeah, the oil companies do not influence the price of oil substantially, since the amount of oil they produce is mostly a factor of various governmental decisions. If they would lower their selling price below market equilibrium, they would create a horrible chaos as some buyers would have to be turned down.
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#3
10-29-2005, 11:33 AM
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Re: Press making Oil companies the enemy
[ QUOTE ]
The press is dumb. [/ QUOTE ] Gas companies aren't the best example of this, but then again I wouldn't exactly say the press is "Dumb". They are selling stories, which mean sensationalism rules. They are just a product of what people want, or rather what the majority of people want. Cody
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#4
10-29-2005, 01:56 PM
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Re: Press making Oil companies the enemy
[ QUOTE ]
Seen alot of newspapaer stories insinuating oil companies are evil for making huge profits during this time. Oil and gasoline are actively traded on the futures markets so the prices we pay at the pump basically just reflect these prices. Nobody said these companies were noble when gas was around 1 dollar per gallon. The press is dumb. [/ QUOTE ] I absolutely concur.
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