Quote:
|
Originally Posted by David - PG
Back when oil used to be around $25 a barrel the oil companies were bleeding from their eyes and barely made a profit. Did they cry and asking to receive any funding from the public so they can stay in business, so they avoid losses? No, never. Not for a single dollar.
Now they are banking, people call for regulation and socialist-style governmental control of an entire industry.
Go figure.
|
I agree. They had many of years of losses. Regulation will only make it harder for them to stay in business or have new entries to business. This isn't going to fix the problem. Specifically in California if we had less regulations more refineries could be built.
My only beef with the oil companies is price fixing. Rochard's gas in Sacramento comes from refineries in the SF Bay Area. You would think he has to pay more to have that gas transported to Sacramento but the opposite is true. Gas is cheaper when you leave the Bay Area which makes me suspect price fixing in the Bay Area.