BlackPhx
Posts: 3432
Joined: 11/8/2006
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Yanno..I was just perusing my way through this topic and not planning on responding, but I find I have to. I could have cared less how much in profits Big Oil made if it weren't for the fact that we, the public underwrite them so that they can make these profits. Exxon lost a ship, the Valdez, remember that disaster? They were assessed a massive amount of money for the spill cleanup, which was performed partially by people who cared enough about the environment to volunteer to wash every bird, seal and critter they could catch, partially by the Coast Guard whose salaries we pay and equipment we fund and despite the efforts ( Exxon was slow to respond to the spill) a study conducted by NOAA determined that as of early 2007 more than 26 thousand U.S. gallons (22,000 imp gal/98,000 L) of oil remain in the sandy soil of the contaminated shoreline, declining at a rate of less than 4% per year. The effort to clean up btw has been largely abandoned at this point.
In 1991, following the collapse of the local marine population (particularly clams, herring, and seals) the Chugach Native American group went bankrupt. According to several studies funded by the state of Alaska, the spill had both short- and long term economic effects. These included the loss of recreational sports fisheries, reduced tourism, and an estimate of what economists call "existence value," which is the value to the public of a pristine Prince William Sound.
The fines, clean-up assessments and repairs to the Valdez have been paid for not out of profits, but out of funds from raising the price of Gas. In Other words they recovered what they paid out from our pockets. Just like the Power Companies recovered what they spent to repair equipment by lobbying for and recieving not only tax breaks but a special assesment on our utility bills with the 2004 hurricanes and the Insurance Companies have offset losses for disasters by a) Not paying claims, b) Underpaying Claims c) Jacking rates to the point peoiple can't afford them. It is actually cheaper for Insurance companies to fight paying claims (using lawyers they have on retainer or pay salaries to) than to pay clients what they have paid for in insurance. Most people end up settling for far less or walking away completely.
Profits remain high and will continue to do so. Last disaster that hit the Oil Companies, the President released a portion of the reserve stockpile of oil. Oil that was paid for at a much lower price per barrel. Our Prices did not go down. Meanwhile, please remember that Oil companies use everything save the squeal, plastics, asphalt, tar, roofing materials, nylon, pharmaceuticals and a whole lot of other things have their start in Oil, all to their profit. As well, yes we have a shortage here and prices are going up, BUT, please stop and ask yourself, if Oil/gas goes for more overseas, and less here, where do you think you would ship your refined oil? Yep we ship OUT of this country, I think currently gas in England is about a $9.00 a gallon equiv.
Unlike some countries, the U.S. does not limit the amount of profit someone can make on their manufactuered goods. That limit comes only with what you can get people to pay. Might be a reason that Insulin goes for 65$ a bottle here and 25$ in Canada. Welcome to capitalism...
poenkitten (disgusted at the pump as we the people can't get salary hikes to match the price hikes but we have no choice save pay or starve)
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RE: I'm pissed as hell! Not going to take it anymore - 
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