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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Road Walker who wrote (256205)	10/18/2005 5:24:19 PM
From: American Spirit	Read Replies (2) \| Respond to of 1572605

Big oil is now a monopoly and cartel and has to be chopped off at the knees. It's grown too powerful and has proven it can and will fix prices. This could be the next huge issue once Cheney, DElay and Bush are out of the way. Those guys have been protecting big oil with their lives.

To: Road Walker who wrote (256205)	10/19/2005 8:04:27 AM
From: Elroy	Respond to of 1572605

in general, when commodities become more precious the manufacturers make more money. So Exxon's increased profits in 2004 is to be expected given that the price of oil approximately doubled from 2003 to 2004. So you are proposing that the average citizen hedge his cost of gasoline by trading in and out of energy stocks? No, that's your discussion, not the one you are jumping into. AS is claiming XXOM is gouging consumers and XXOM is doing something immoral and wrong and XXOM needs to be punished, I'm trying to find out how AS came to that conclusion. I'm also wondering why if AS believes XXOM has some massive unfait advantage in the form of GB's white house why he doesn't just buy their stock and benefit from their advantage. XXOM's benefits flow through to XXOM's shareholders, which are you and me and whichever other citizen wants to buy XXOM stock. You can go ahead and solve the problems caused by higher gas prices, good luck, hope it works for you. The affect that higher gas prices have on me is a massive growth in development in the region where I live, and its pretty awesome. They are building the tallest building in the world, an indoor snow ski park, three new golf course (in what used to be desert!), the largest indoor mall in the world and (if the stories are true) 80 new hotels over the next decade out here. Listen, are the energy companies making windfall profits, Yes. Are they doing something great and different to earn those profits, NO. Are those profits coming out of the pockets of virtually every US citizen, Yes. Are their increased profits hurting the US economy, Yes. I don't think the energy companies set the price of oil, which is the driver behind the increased price of gas to consumers. Its worldwide supply and demand, and if you ask me the entrance of 1.2 billion Chinese and 1 billion Indians into the world economy is more the cause of the problem than XXOM. Those 2.2 billion (~1/3 of the planet's population?) people are going to want gas and oil just like we have, and that causes the price to go up. Getting mad at the oil companies when their reserves increase in value is like getting mad at a museum when it's collection of Picasso's treble because suddenly the Japanese are buying art - it's the museum's good fortune. I was just trying to shut you up, you asked the same question a half dozen times. Well, you should have just said that at the top!