mnottertail -> RE: Krugman on the Obama/Ryan proposals (4/18/2011 8:40:07 AM)
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Then you can point out some credible citation that it is all used internally. Thanks for your sockpuppet but just as the BP disaster in the Gulf pointed out with massive citations, most of that offshore and deepwater coastal oil is exported. Now, the guys in the business tell me that they are making port connections down there, I believe em. You don't gotta believe me, I could give a fuck, but since you made the comment that oil costs the same to anyone (which is not truthful beyond the barrel) so it is dishonest in its foundation..... Let us review reality. A barrel of oil is what? 42 gallons? Let us waltz thru this, so anyone can grab a little slice of life. Shell Oil owns (or leases a rig offshore or even in say oklahoma) the suck up a barrel at whatever sell it to the refinery (which they own at least a chunk of) and rebuy it to sell at a shell oil station and some bullshit mom and pop independents and they do this with their trucks, leased rail cars, and yadda yadda yadda, but note that there aint a chain of Joe the Plumber gas stations in the world...... Where is the profit opportunity? Getting it out of the ground cheap, holding for good price, refining cheap, shipping cheap, selling at the station (and at what wholesale), meantime they are heavy into the pits and hedging for and against spot and futures....... And so on, but look ... there is no shortage, anywhere, and simultaneously just like the last manufactured 'shortage' the oil company profits are set up for records, now how does that walk in lockstep when if a business buys something at a higher price, sells it at a higher price, and keeps the same margin............ So, even with taxes then, Japan paying 12 bucks a gallon at the pump, what is the wholesale price here, there and everywhere? On face value................no magic, it don't matter how much more you pump.......cuz there aint a shortage and the days of absolute glut are far, far behind us..........
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