High Gasoline Prices? It’s About GREED!

Gasoline prices are at an all-time high in America. The professional idiots in this country, otherwise known as “conservatives,” keep saying that if only Pres. Obama would release oil from the National Reserve, the price of gasoline would drop. Bullshit. First of all, the refineries are running at capacity so adding raw petroleum to the market would do absolutely nothing to lower the price of the refined product, gasoline. They can only turn out so much. Saying that more crude oil would ease the price of the refined end product is a lie told in order to put the blame for high prices at the pump on Obama, whom we all know they hate just because he is an African American.
So why is the price of gasoline at an all time high in America? Gas. Natural gas. That, mixed with greed, is an explosive combination. In this country we have an abundance of natural gas. It is very cheap. The refineries use this fuel to operate the plant when they turn oil into gasoline. It makes American gasoline the cheapest in the world to produce. The American refineries are getting swamped with offers for their product from overseas. This is happening because of the low cost of American production. Even though the price of gasoline is high here, it is considerably lower than other countries pay for gasoline. So in their greed, American refineries are selling the bulk of the gasoline overseas and charging THAT price, the price the foreign buyers pay, to the American public. Why? Because they can.. Send the refineries more oil and even if they had the capacity to refine it, they would just sell it overseas and drive up the domestic price. That is the “free market” the conservative idiots worship. Worship until it costs them too much money, that is. Then these hateful bigots play “Blame The Colored Boy.” That is all that’s happening. So do not believe it when the blow-hards tell you that prices would all be normal again if Obama just released oil. It is pure bullshit.


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3 Responses to “High Gasoline Prices? It’s About GREED!”

  1. dkschneider Says:

    Interesting. If the refineries are operating at capacity, why then, are refineries shutting down? Like the two that went idle and will not restart in Philadelphia, and the third that will shut down in July 2012? And what about the closure of the HOVENSA refinery in St. Croix, USVI?

    If the oil companies are making so much money, why is Sunoco reporting a $1.6 Billion loss for fiscal year 2011?

    There is actually somewhat of a glut of gasoline in the world market – and where there is more supply than demand, prices tend to go down.

    Now, “drill” as an answer all depends on the kind of crude that comes out of the hole punched in the ground. There are different kinds of crude, just as there are different kinds of people. There are the easy kinds, the light and sweet oils that are easy to refine but expensive to buy, or the heavy and sour that require more equipment, effort and cost but are less expensive.

    What we are drilling and pumping up (and what many other countries are pumping too) is the heavy and sour, and the refineries able to deal with it are busy.

    What is in demand on a global scale is Ultra Low Sulfur Diesel (ULSD) – the stuff that all trucks and buses in the US are mandated to use, and this year all locomotives, tug boats and ships calling on US ports are mandated to use starting this year. In New York state homes that burn fuel oil will have to use ULSD, and next year it will be New Jersey. Countries in Europe want our ULSD too.

    Guess who makes the most ULSD in the world? Yep, American Refiners. The ones that can do it and make a profit are busy. The ones that can’t afford the billions per plan to upgrade to make the stuff are closing. The EU refiners can’t afford the upgrades, the banks will not give them the loans they need. The US refiners who do want to upgrade are caught up in EPA regulations.

  2. Rev. E.M. Camarena Says:

    Thanks for the comment.
    By pointing out that refineries are closing, you confirm my point that those still running are running at capacity. For that I thank you, as well. If any oil company is taking a loss, they are either run my complete morons or are cooking the books. Oil company profits have never been higher. Not ever. Further, since I was focusing on gasoline here, I did not mention the oil costs skyrocketing because of the Wall Street Bankers, whom “W” bailed out. They are responsible for speculating in something like 60% of the oil futures; twice what they usually do. Buying up futures with no intent to purchase should be illegal again. It does no good. Only serves greed. I believe that Bill Clinton removed that wise restriction but I could be wrong. Diesel, of course, is the way to go in terms of reducing the dreaded Carbon Footprint. It is less polluting than the vaunted electric car, which is powered by juice that comes from burning coal. As to a glut of gasoline, if there is one it is not going to last. Not with China on track to have more cars than the USA has people. The image of the millions of Chinese bike riders is an anachronism. Besides, don’t gluts reduce prices? Supply and demand mean nothing in the absence of a truly free market. We have a rigged market and there is no way around it. We privatize profits and socialize losses while speculators manipulate the price no matter what the supply or the demand.
    I am going to have to stick by my premise that this is all because of greed.
    As to your Parthian Shot about the EPA, it is really too bad that corporations cannot pollute the public commons at will in order to make America look like the mess that the Eastern Europeans made of the Black Forest, among other places, isn’t it? What’s this world coming to when people demand that the government protect them from rapacious bottom-line bottom-feeders. The EPA is perhaps the second best thing that Nixon did. The first being to have resigned…

  3. Rev. E.M. Camarena Says:

    Of course, that should read “run BY,” not “run my”… Lord I hate typos…

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