Friday, August 11, 2006
Oil prices and gas companies
As I have said earlier, these posts are my personal opinion and avani sthiti (Earth situation) as I see it.
Here is the craziest thing I see going on and I can't do much but feel agitated. Gas companies are making record profits last few years. Gas prices have gone up from already high values. This time the reason is that gas supply may have troubles because of the war between israel and hizbollah gorrillas. Wait a second!! Neither Israel no lebonan produce Oil. How come gas prices in US are still high? The experts say the route in the middle east may be hampered due to this war and so supplies might be less for higher demand. I have heard these guys talk about Oil prices fluctuations and supply-demand equations. Based on hypothetical situations the gas prices are record high values these days. Bush administration does nothing about it and the question is exactly what they can do? I understand basic supply and demand philosophy but for month you can sing the same rhetoric that the demand may be more and supplies will be less. The last month that middle east war is going on, supplies are not affecte. Atleast I have not heard that news. That means the oil supply is normal but the prices are still high under the state of fear that the supplies might reduce. This is ridiculous. Not just because of it affects common people like me but also because this is blue collar rip off. The gas companies have not done anything to invest big time for alternative fuels or even to do simple maintenance. Look at BP's decision to shut down alaskan pipeline. These jerks made over 70 bollions in last 5 years and they have spent 1.3 or something billion for maintenence. Warnings were ignored. OK so you will ask, this is not good for British Petroleum either right because they have lost business for those many days they have that pipeline closed. There are 2 arguments about that. BP is irresponsible company to ignore consistent warnings for last 5 years. BP profits are up and the shares are not going down which means company doesn't loose much anyway.
After 2/3 years congressional committee will be setup and they will investigate to find that yes... there were malpractices. Bull shit!! I say. Look at Tobacco lawsuits where many states as well as federal government gets historical tobacco lawsuit money from tobacco companies. How much of that money is being spent on people actually quiting to smoke? Not much. Why is that you will ask. Thats because state governments can use tobacco money for health related issues or even reroute that money to fill budget deficeits. It will be interesting to see the percent of people quitting compared to percentage of people (teenagers mostly I guess) picking up smoking.
It just goes on like that...
Here is the craziest thing I see going on and I can't do much but feel agitated. Gas companies are making record profits last few years. Gas prices have gone up from already high values. This time the reason is that gas supply may have troubles because of the war between israel and hizbollah gorrillas. Wait a second!! Neither Israel no lebonan produce Oil. How come gas prices in US are still high? The experts say the route in the middle east may be hampered due to this war and so supplies might be less for higher demand. I have heard these guys talk about Oil prices fluctuations and supply-demand equations. Based on hypothetical situations the gas prices are record high values these days. Bush administration does nothing about it and the question is exactly what they can do? I understand basic supply and demand philosophy but for month you can sing the same rhetoric that the demand may be more and supplies will be less. The last month that middle east war is going on, supplies are not affecte. Atleast I have not heard that news. That means the oil supply is normal but the prices are still high under the state of fear that the supplies might reduce. This is ridiculous. Not just because of it affects common people like me but also because this is blue collar rip off. The gas companies have not done anything to invest big time for alternative fuels or even to do simple maintenance. Look at BP's decision to shut down alaskan pipeline. These jerks made over 70 bollions in last 5 years and they have spent 1.3 or something billion for maintenence. Warnings were ignored. OK so you will ask, this is not good for British Petroleum either right because they have lost business for those many days they have that pipeline closed. There are 2 arguments about that. BP is irresponsible company to ignore consistent warnings for last 5 years. BP profits are up and the shares are not going down which means company doesn't loose much anyway.
After 2/3 years congressional committee will be setup and they will investigate to find that yes... there were malpractices. Bull shit!! I say. Look at Tobacco lawsuits where many states as well as federal government gets historical tobacco lawsuit money from tobacco companies. How much of that money is being spent on people actually quiting to smoke? Not much. Why is that you will ask. Thats because state governments can use tobacco money for health related issues or even reroute that money to fill budget deficeits. It will be interesting to see the percent of people quitting compared to percentage of people (teenagers mostly I guess) picking up smoking.
It just goes on like that...
