Oil companies function as a cartel, not competetors.
This is so clear that to explain what is so obvious makes me sound pedantic. But, here goes anyway.
In a competetive market, when costs of goods sold for 1 competetor go up, other competetors press to keep the price down to gain market share. In addition, in times of increasing costs, the organizations with increasing costs do not make record profits.
The public is not pressing the issue because:
? we all have money right now,
? we are feeling a bit like it's OK because we really do get gas cheaply compared to the ROW (great grass roots PR).
? Hegel's rule, the second rule of relativity, what goes around comes around, etc has not taken effect yet.
To miss that this is a cartel and to defend the cartel, is a bit less morally egregious, but no less self serving, than the cigarette manufacturers defending their product, or Gates et al saying that they are not out to monopolize their market.
The Justice department should speak to the cartel, at least, advise them that the adult populace of the country is not really as stupid as depicted on TV, and that we get it---and that if they don't get it--Justice will have to intervene.
Best regards to all. Im not a regular reader here and will not respond to any posts as Im not a regular reader here.
G |
