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Old 02-07-2013, 04:19 PM   #43
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Maybe some of the bright minds out there can tell me if the price of crude goes up a nickel why does the pump price go up 20 cents but when it goes down a nickel it either remains the same or only goes down a penny. ????

Broke and confused in California.
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Old 02-07-2013, 04:57 PM   #44
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Quote:
Originally Posted by blackf3504dr

Notice it says "profits", not profit margin ? Anyone know the difference?
So how do we objectively look at $40 billion in profit as anything other than a bundle. I believe that's what you're suggesting - small potatoes. But who knows, we are talking oil. Clearly $40 billion is not the largest number in the world. Just wondering what an informed thinker would consider high. Beyond that - the price at the pump is based on the price to the last guy that bought it. Futures should probably be limited to sow bellies. Often traded, seldom delivered. When the price of food and energy are considered so volatile they are routinely removed from reported inflation to smooth out speculation and weather, it equates floods and draughts with fat cats betting on troubles in oil producing countries. We pay the price whether things actually heat up or not.
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Old 02-07-2013, 05:03 PM   #45
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There's nothin' political about charging whatever the market will bear!

That's the Free Market system, folks...
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Old 02-07-2013, 08:32 PM   #46
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Of course it's not political--

Free Market System, meet the "Reasonable Profits Board."
The Gas Price Spike Act, H.R. 3784, would apply a windfall tax on the sale of oil and gas that ranges from 50 percent to 100 percent on all surplus earnings exceeding "a reasonable profit." It would set up a Reasonable Profits Board made up of three presidential nominees that will serve three-year terms.Of course this bill went nowhere but they tried. It does not seem to matter that the Oil Company profit margins (About 6- 8%) are lower than most other industries. (Amazon.com runs about 18%.)

(I tried but could not find a link w/o"Dems")
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Old 02-07-2013, 08:48 PM   #47
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The definition of a "reasonable profit" in a Free Market System is whatever can be squeezed out of the consumer.

I wonder how Alaska managed to actually reserve a tiny piece of that action for the Citizens/Owners of the Ground that the oil itself actually came out of!-???
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Old 02-07-2013, 08:54 PM   #48
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Quote:
Originally Posted by Francesca View Post
There's nothin' political about charging whatever the market will bear!

That's the Free Market system, folks...
Actually this market (me) doesn't want to pay what the rest of the market will bear.
What is missing in the Free Market System of gasoline prices is healthy competition.
If a consumer isn't able to influence the price of gasoline by patronizing gas stations that are willing and able to sell at a price less than the current retail price, then the oil companies are operating in a monopolistic closed market system.
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Old 02-07-2013, 09:17 PM   #49
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Old 02-07-2013, 09:56 PM   #50
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Discussions of a free market system are theoretical, heuristic devices studied in college. They have little to no meaning in the real world. The number or assumptions needed to clear actual economies to their theoretical constructs would take volumes. Let's start by assuming away any and all subsidies to oil companies before we call it a supply and demand driven free market transaction between equally informed buyers and sellers. To suggest that the price at the pump reflects what the market will bear is nonsense. It is what the market must bear in the absence of substitution in a protected oligopoly.
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Old 02-07-2013, 11:04 PM   #51
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Fifty dollar words aside:

The free market is about the only thing that does have meaning in the real world of folks that have to buy gas to get around, Babaloo!
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Old 02-07-2013, 11:09 PM   #52
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Originally Posted by Francesca
Fifty dollar words aside:

The free market is about the only thing that does have meaning in the real world of folks that have to buy gas to get around, Babaloo!
Good one Potsie.
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Old 02-08-2013, 03:40 AM   #53
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Filled the plow truck up yesterday because of the pending two foot snow fall coming. About to give up $125.00, That's at $ 3.59.9 a gallon, $ 4.20.9 diesel. I'm getting to hate winter. Big oil just keeps squeezing.
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Old 02-08-2013, 08:38 AM   #54
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Free?

The problem with so called "free markets" is that the markets are not free.

The law of supply and demand does not greatly control the price of oil. Instead, as I mentioned before, oil pricing is deterrmined by speculators based on political and physical events.

Consider, that if the price of oil was allowed to rise to it's actual value in a true free market, we could be paying a lot more. Bigger monopolies would form and oil companies would constrict supply even more than now. The main producers of world oil are owned by foriegn nations who are not necessarily aligned with our best interests.

Some have suggested regulating EFT and speculation. I am personally in favor of this.

I do not trust the investment banks and others who advocate "free market" pricing. This will certainly mean more profit for the major hedge funds but higher gas prices for all.

Look at electricity prices for an example of a deregulated "free market".
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Old 02-08-2013, 08:49 AM   #55
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As long as you have CARTELS that can set the price there will be no freemarket.
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Old 02-08-2013, 12:44 PM   #56
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The problem with so called "free markets" is that the markets are not free.

The law of supply and demand does not greatly control the price of oil. Instead, as I mentioned before, oil pricing is deterrmined by speculators based on political and physical events.
Just to clarify:

My use of the term "free market system" refers to its much more fundamental meaning: whatever the market will bear.

That's the principle fuel prices are based on.
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