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Originally Posted by ADL Colin
Tony, I don't get your point. How will increasing the taxes on an energy company's profits decrease prices at the pump? Or similarly, how will removing a tax break decrease profits at the pump?
Also, higher prices at the pump don't always equate to higher profits for the energy companies. The large integrated energy companies have a mixture of profits from exploration, refining margins and sales. A pretty complicated mix. Watch the "crack spread". This is the refining margin which is only $8.31 NYMEX right now. Lowest it has been in over a year. This will really have an effect on a company like Conoco Phillips.
Why not defend Exxon? What has Exxon done wrong? XOM isn't controlling the price per barrel or the price at the pump. XOM is exploring for petrol products, refining them, shipping them, marketing them and selling them at market prices. They are a well-run company. A well-oiled machine.
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Exxon is manipulating the price of oil and gas. They own the oil being pumped, the company that is pumping it, the company that is shipping it, the pipes that are sending it, the refineries that are making the gas, the trucks that are carrying it, and the stations that are putting it in your tank.
Just because they have all these companies with different names, doesn't mean they aren't controlling and manipulating the market.
Why is it that a new refinery hasn't been built in well over 20+ years? Every time the price of gas goes up it is because of not enough refineries, or a refinery is down for maintenance.
They also use the price of a barrel of oil. Even though they are pumping it themselves. Just because they can sell it on the open market for $100 doesn't mean that it costs them any more to pump.
Why is it that I can't even buy a car that gets over 60mpg in this country when they have them in europe? Why was our energy policy with this admin done behind closed doors for the first time ever, and taken all the way to the supreme court to protect who was on the panel?
You guys are all fucking idiots defending these companies that are fucking up our economy. Would you defend the guy that raped you mother because he is a guy and was horny?