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Ray,IN · 08-22-2007, 07:31 AM

I just now heard on the local news that some gas station owners in CA have filed price fixing charges against 5 major oil companies. They are seeking to have the suit declared a class action and get other owners in all states to join.
I applaud them.

Ray,IN · 08-22-2007, 07:31 AM

I just now heard on the local news that some gas station owners in CA have filed price fixing charges against 5 major oil companies. They are seeking to have the suit declared a class action and get other owners in all states to join.
I applaud them.

RustyJC · 08-22-2007, 09:00 AM

Here's a link to the story in this morning's edition of the Houston Chronicle.

A couple of interesting excerpts:
<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">
The case filed in U.S. District Court in San Francisco seeks class-action status for the plaintiffs. It is similar to another lawsuit filed in 2004 by other California gas station owners that was thrown out by the U.S. Supreme Court last year. The new group of plaintiffs hopes the court will consider a slightly different argument.

A Chevron spokeswoman, Stephanie Price, said the San Ramon-based company has not seen the lawsuit and she couldn't discuss specifics. She did say Chevron, which acquired Texaco Inc. in 2001, was vindicated last year when Chief Justice John Roberts blasted the previous case for its "very artificial hook."
</div></BLOCKQUOTE>

So, this suit may not even make it before the Supreme Court since they may consider that it's already been decided in the previous case. We'll see....

Rusty

Ray,IN · 08-22-2007, 11:42 AM

Rats.

No-one can convince me there is not price fixing. I live near a college town; Indiana University(#8 on list of party schools) Fuel is normally 20 cents a gallon higher than any surronding town. Station owners say it is the wholesale price here that keeps it inflated.

DonavonP · 08-23-2007, 05:15 AM

<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by Ray,IN:
Rats.

No-one can convince me there is not price fixing. I live near a college town; Indiana University(#8 on list of party schools) Fuel is normally 20 cents a gallon higher than any surronding town. Station owners say it is the wholesale price here that keeps it inflated. </div></BLOCKQUOTE>

I would bet it has more to do with "drive offs" by the college kids. The moral fabric instilled by their parents has not fully engaged at this stage of their lives

(or maybe it has).

Roam America · 08-23-2007, 08:20 AM

well as soon as hurricane dean hit the gulf, prices went up based on the fear that the oil platforms may be impacted. They weren't. so let's see how long it takes for the prices to go back down.

Sonny in WV · 08-24-2007, 09:22 AM

Regardless of the price of crude or weather the greedy oil people will have their profit. Look at that profit and remember that is the bottom line after all expense's. 14 BILLION??? in 3 months?? The price of everything in this country is going up. How can we expect to compete with China, or anyone else? And the people in DC are sitting on their thumbs!!!

allegro · 08-24-2007, 01:34 PM

Gas in Elkhart IN went up 40 cents a gallon overnite to 2.99 when the storm was first predicted to skirt Texas. That was last week. Lowest price today was 2.85. In about another 3 weeks it may approach the low of 2.56. By then, a new storm will be forming off the coast of Africa and up it goes, where it stops no one knows.

hamguy · 08-25-2007, 12:31 AM

<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by Sonny in WV:
Regardless of the price of crude or weather the greedy oil people will have their profit. Look at that profit and remember that is the bottom line after all expense's. 14 BILLION??? [snip] </div></BLOCKQUOTE>
Of course they only have an investment of $1.38 to accomplish this fete.

In reality, their ROI is less than many other industries.

Oh, did you send money to them a few years ago when they were running in the red? I thought not.

Izzyblueye · 08-26-2007, 04:13 PM

Some time look at GasBuddy.com and look at the disparity of prices in your state. Some bordering counties will vary as much as .20 a gallon. The fuel was delivered by the same unmarked tanker to the stations in both counties. Go figure, but don't rule out the dealers associations participation in gouging.

Sonny in WV · 08-27-2007, 02:27 AM

Right on Homer. Just look at the profits they are making. I don't remember them ever being in the red, except when they buy out a competitor and show this on their profit and loss statement. This allows them to shut down refineries and control the out put. You control the out put, you control the price. Plain and simple! It is a monopoly from the Cartel to the pumps. And especially the refineries. They are really putting our country in a bad way. The full ramifications of their gouging is yet to be felt.

RustyJC · 08-27-2007, 03:39 AM

I guess memories tend to be short. Back in the late 90s, crude oil hit $10/bbl, and oil service companies and equipment suppliers were going under left and right. Those who survived were laying off workers with 30 years and more seniority.

This has always been a cyclical business, but at present worldwide demand is increasing for a finite resource. The days of cheap oil are numbered, if not over.

Rusty

Izzyblueye · 08-27-2007, 04:47 AM

Our failing memories have also forgotten the oil depletion allowances to oil companies of the 50's & 60's. The legislation that forced Mom & Pop gas stations to replace their underground tanks with new ones, whether they needed them or not. They couldn't afford the expense and went out of business. Conglomerates took over complete control of the retail market. Special tax incentives today for the import of crude.

RustyJC · 08-27-2007, 04:59 AM

<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by Homer:
The legislation that forced Mom & Pop gas stations to replace their underground tanks with new ones, whether they needed them or not. They couldn't afford the expense and went out of business. Conglomerates took over complete control of the retail market. </div></BLOCKQUOTE>
Underground tank replacement was an environmental issue. Leaking tanks were contaminating ground water. I don't think continuing that scenario would have been in anyone's best interests, right?

Rusty