I'm not surprised in the slightest are you?
A report by the BBC about an investigation into large companies fixing the price of fuels comes as no surprise to most people.
But if the investigation concludes that indeed the companies have been fixing prices what do you think should happen?
http://www.bbc.co.uk/news/business-22533993
On a person point i have 5 suppliers of petrol within 2 miles of my home, the major companies (ESSO, BP and TEXACO) offer petrol at £1.32.7 per litre (£5.97.15 UK gallon $7.78.51 US gallon) and the independents (ASDA and GREEN LEAF) offer the same product at £1.29.6.
Oil tycoons need all that money to line their pockets with baby seal fur and to convince the general populace that their energy source is the only one that's viable!
I find it funny that the oil companies are telling us the oil is running out yet they have no major plans to replace their golden egg with anything else.
A geologist told me he believes we have used 1/8 of the earths reserves of oil and the only problem the oil companies have is how to extract the other 7/8.
It's true that there exists a massive buttload of oil shale that could technically keep us running for several centuries, but the cost of extracting the oil from said shale is astronomical and, more importantly, impractical.
Not anymore... we're getting oil out of shale right now. We have enough in the US alone to keep the US going for 50-100 years, without any new advances in extraction technology.
Would it surprise you if you learned the countries that own the oil have been fixing prices?
No
In the UK it's advantageous for the government to have high fuel prices as they collect more revenues.
It doesn't supprise me that the US is also fixing the price of crude as its sitting on some of the largest reserves.
And of course OPEC have always fixed the price.
Do you count restricting supply as fixing the price? Because it does affect the price but it is not really the same deal.
I believe restricting the supply increases the price but doesn't increase the costs so someone is making loads of money, maybe its all the nasty commodity dealers.
Actually, it is the same deal. You reach a balance of price/demand either way, restricting supply is a well-known method of price fixing.
by Gary Anderson 12 years ago
Worried about the price of gas? Our oil companies aren't. They export oil in the SF Bay and in April will start exporting West Texas Intermediate (WTI) from the Gulf of Mexico. http://www.businessinsider.com/the-asto … rum-2012-3Here is my response. We can thank libertarian thought for the...
by Moderndayslave 12 years ago
Our friends that are doing "Gods Work" Goldman Sachs or Gold Sacks as some call them are now publicly predicting $5 a gallon gas with a barrel of oil to trade at $135 a barrel.A CEO for a major oil company stated at the recent congressional hearings the the price of oil without the...
by peterxdunn 13 years ago
The price of oil is rising - why? Is it because of events in Egypt? Egypt does not produce oil...and the Suez Canal is still open to traffic - so how could it by their fault? Are the oil companies simply taking advantage of the situation to maximise profits whilst thinking that people around the...
by Aqeel Saeed 14 years ago
It fluctuate between $ 148 per barrel to $ 33 per barrel.
by Sharlee 2 years ago
"Drivers have been fuming about high gas prices since last fall, and inflation has had Americans up in arms for almost a year now. But neither annoyance prepared people for the recent unpleasant shock of getting the winter's first gas and electric bills.Soaring heating bills shouldn't come as...
by Mike Russo 11 years ago
Obama was blamed by the conservatives and the Romney camp for the price of gasoline increasing. Now that it is coming down, does he get credit for it?...something to think about! Your thoughts please.
Copyright © 2024 The Arena Media Brands, LLC and respective content providers on this website. HubPages® is a registered trademark of The Arena Platform, Inc. Other product and company names shown may be trademarks of their respective owners. The Arena Media Brands, LLC and respective content providers to this website may receive compensation for some links to products and services on this website.
Copyright © 2024 Maven Media Brands, LLC and respective owners.
As a user in the EEA, your approval is needed on a few things. To provide a better website experience, hubpages.com uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.
For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at: https://corp.maven.io/privacy-policy
Show DetailsNecessary | |
---|---|
HubPages Device ID | This is used to identify particular browsers or devices when the access the service, and is used for security reasons. |
Login | This is necessary to sign in to the HubPages Service. |
Google Recaptcha | This is used to prevent bots and spam. (Privacy Policy) |
Akismet | This is used to detect comment spam. (Privacy Policy) |
HubPages Google Analytics | This is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy) |
HubPages Traffic Pixel | This is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized. |
Amazon Web Services | This is a cloud services platform that we used to host our service. (Privacy Policy) |
Cloudflare | This is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy) |
Google Hosted Libraries | Javascript software libraries such as jQuery are loaded at endpoints on the googleapis.com or gstatic.com domains, for performance and efficiency reasons. (Privacy Policy) |
Features | |
---|---|
Google Custom Search | This is feature allows you to search the site. (Privacy Policy) |
Google Maps | Some articles have Google Maps embedded in them. (Privacy Policy) |
Google Charts | This is used to display charts and graphs on articles and the author center. (Privacy Policy) |
Google AdSense Host API | This service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy) |
Google YouTube | Some articles have YouTube videos embedded in them. (Privacy Policy) |
Vimeo | Some articles have Vimeo videos embedded in them. (Privacy Policy) |
Paypal | This is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy) |
Facebook Login | You can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy) |
Maven | This supports the Maven widget and search functionality. (Privacy Policy) |
Marketing | |
---|---|
Google AdSense | This is an ad network. (Privacy Policy) |
Google DoubleClick | Google provides ad serving technology and runs an ad network. (Privacy Policy) |
Index Exchange | This is an ad network. (Privacy Policy) |
Sovrn | This is an ad network. (Privacy Policy) |
Facebook Ads | This is an ad network. (Privacy Policy) |
Amazon Unified Ad Marketplace | This is an ad network. (Privacy Policy) |
AppNexus | This is an ad network. (Privacy Policy) |
Openx | This is an ad network. (Privacy Policy) |
Rubicon Project | This is an ad network. (Privacy Policy) |
TripleLift | This is an ad network. (Privacy Policy) |
Say Media | We partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy) |
Remarketing Pixels | We may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites. |
Conversion Tracking Pixels | We may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service. |
Statistics | |
---|---|
Author Google Analytics | This is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy) |
Comscore | ComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy) |
Amazon Tracking Pixel | Some articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy) |
Clicksco | This is a data management platform studying reader behavior (Privacy Policy) |