I think its time we socialize the oil industry.

[Geehee]

because our government already runs oh so well, and doesnt over tax us at all.

[Penfold]

Government in this country already consumes over 50% of income. In my opinion we are already drastically socialized than the creators of the country ever invisioned. And they did do what they did for no reason. They understood the wastefullness and inefficiencies of government programs, as well as the corruption and control that comes with them.
Capital AND resources in the hands of the government is always less productive in the hands of government. Of course some programs can be vital to the entire nation and be handled by the federal government, mostly being national defence and deplomacy.

[JayS]

One more real good read where some of that big oil money is going:

http://www.popularmechanics.com/science/extreme_machines/4255407.html

Socialize it, take away the the incentive of big profits, and watch that oil exploration technology expansion stop dead in it’s tracks.

[Janus]

mobile/exxon locations in rochester: approx 3.19/gal reg last i saw (2 days ago). other locations (sunoco specifically): approx 2.95/gal reg. mobile/exxon has always charged consistantly more when they all pay the same for a barrel of oil. Im SURE theres more to it than that, but dumbing it down to this… when they consistantly charge 30c more a gallon, im not surprised they post the numbers they do.

[Dr.Stevil]

@Janus

mobile/exxon locations in rochester: approx 3.19/gal reg last i saw (2 days ago). other locations (sunoco specifically): approx 2.95/gal reg. mobile/exxon has always charged consistantly more when they all pay the same for a barrel of oil. Im SURE theres more to it than that, but dumbing it down to this… when they consistantly charge 30c more a gallon, im not surprised they post the numbers they do.

well, can’t really comment on it much as I don’t know how they arrive at the prices they do, but is it Exxons fault or the stupid people paying more for thier gas?

[OriginalSterm]

Making billions when you spend trillions doesn’t seem like that big of a profit (%age wise) - oil companies

Making billions when you spend billions (or millions) seems a lot better profit now doesn’t it? - any other successful company

[Penfold]

I want to add that oil was too cheap to begin with. Did you notice how oil drilling in USA started back up in full swing when the price went up? It was because the price finally reflected the cost to get it out of the ground.

The strong US dollar has made foriegn oil super cheap.

[ecoshardcore]

@StrokedZ28

All I’m saying is that its not right that we have to suffer to give them thier profits. If oil was really so expensive shouldn’t that have also taken a hit?

No one should have had an increase in thier profits if oil was really that expensive.

And no I’m not for natinoalizing banks, just regulation.

Again don’t just tell me its bad, tell me why oil comapnies, that have such control over our economy, should not be controlled by government?

And I agree that oil speculation should also be stopped completly.

Here are my answers:

First of all, The oil companies do not control the prices. Oil demand has been increasing due to new entries into the marketplace. If you have more volume at a higher price. VOILA, more profit.

You are not calling for regulation, you are calling for intervention and interference. The oil industry is one of the most heavily regulated industry.

Tell me comrade, did government control of the industries work for Russia?

Define speculation. If you look at the data, and also write a heavy research paper about it. (like I did) You can see that the run up in prices was mostly due to a decline in the dollars value. Since all OPEC oil is denominated in dollars…there ya go. The commodities market has been a hedge for the dollars market since its inception. If you have a decline in the value of the dollar, it is 100% rational it would take more of them to buy something.

@StrokedZ28

Well first off my fathers company does not have really any stake in the economy. So there really isn’t any comparison.

Again, I am not completely sold on the idea, and I do not want across-the-board socialism at all.

But if the industry is making “profit” doesn’t the profit only count for money made after the costs and investment? Meaning exxon made nearly 15 billion dollars after expenses? Billions more than last year?

EVERY business affects the economy, do you hire people? Do you make things? Do you serve people things? do you repair things other people made?
Then you have a stake in the economy.

Socialism doesn’t work that way. Once you start down that road, the only way out is revolution or communism. As people expect the government to do more and more for them, what do you expect the electorate to do? Karl Marx wrote in “Capital” that “socialism is a necessary step before communism”

[StrokedZ28]

@ecoshardcore

EVERY business affects the economy, do you hire people? Do you make things? Do you serve people things? do you repair things other people made?
Then you have a stake in the economy.

I meant that his buisness does not control vasts portion of the economy.

Socialism doesn’t work that way. Once you start down that road, the only way out is revolution or communism. As people expect the government to do more and more for them, what do you expect the electorate to do? Karl Marx wrote in “Capital” that “socialism is a necessary step before communism”

I guess I’m really not going to get a fact based answer, just the whole “Socialism bad, Oil Industry is actually loosing money” argument.

[ecoshardcore]

@StrokedZ28

I guess I’m really not going to get a fact based answer, just the whole “Socialism bad, Oil Industry is actually loosing money” argument.

Fair enough, I must have not inferred that. I just posted something in OT that would be a good read for everyone that has posted so far.

Take a look here:http://nyspeed.com/forums/showthread.php?t=59912

Are you looking for examples of when the US government has stepped in to the markets and ended up screwing everything up?

[Dr.Stevil]

@ecoshardcore

Here are my answers:

First of all, The oil companies do not control the prices. Oil demand has been increasing due to new entries into the marketplace. If you have more volume at a higher price. VOILA, more profit.

You are not calling for regulation, you are calling for intervention and interference. The oil industry is one of the most heavily regulated industry.

Tell me comrade, did government control of the industries work for Russia?

Define speculation. If you look at the data, and also write a heavy research paper about it. (like I did) You can see that the run up in prices was mostly due to a decline in the dollars value. Since all OPEC oil is denominated in dollars…there ya go. The commodities market has been a hedge for the dollars market since its inception. If you have a decline in the value of the dollar, it is 100% rational it would take more of them to buy something.

EVERY business affects the economy, do you hire people? Do you make things? Do you serve people things? do you repair things other people made?
Then you have a stake in the economy.

Socialism doesn’t work that way. Once you start down that road, the only way out is revolution or communism. As people expect the government to do more and more for them, what do you expect the electorate to do? Karl Marx wrote in “Capital” that “socialism is a necessary step before communism”

:bigclap: very well put

[JoesTypeS]

@StrokedZ28"

Someone give me a compelling argument against it.

Mutual Funds & 401ks would collapse, and even those record profits wouldn’t REALLY do that much to the federal budget. Considering those companies pay some sort of tax on profits.

[StrokedZ28]

@JoesTypeS

Mutual Funds & 401ks would collapse, and even those record profits wouldn’t REALLY do that much to the federal budget. Considering those companies pay some sort of tax on profits.

Ok, but what about trying to regulate the price? I know it will go up no matter what but maybe haveing a gradual raise instead of the rollercoaster rides we have seen in the past 3 years?

[ecoshardcore]

@StrokedZ28

Ok, but what about trying to regulate the price? I know it will go up no matter what but maybe haveing a gradual raise instead of the rollercoaster rides we have seen in the past 3 years?

If you set a price ceiling all you end up doing is discouraging suppliers. I agree that the commodities market should be more regulated as I think it would help everyone in the world. Government ownership is not the answer though.

[JayS]

Wow Stroked, you should know you’re wrong when both JoesTypeS and I are both agreeing your idea is a horrible one.

That’s better proof than any fact or figure anyone is going to post.

[StrokedZ28]

@JayS

Wow Stroked, you should know you’re wrong when both JoesTypeS and I are both agreeing your idea is a horrible one.

That’s better proof than any fact or figure anyone is going to post.

I tend to agree with you.
/Thread

[ultradriver10000]

@StrokedZ28"

Record profits at a time when gas prices choked the economy? Maybe its just my anger over this but I’m thinking that we should just socialize this industry and regulate the hell out of it.

Exxon breaks record for profit, yet again - Oct. 30, 2008

Someone give me a compelling argument against it.

I make loads of money off it, I’m going out on a rig Monday on the golf coast and probably going to Korea next week…I plan on going to Dubai in the next few months so get your fugging hand out of my god damn cookie jar you thieving bastard.

[StrokedZ28]

@ultradriver10000

I make loads of money off it, I’m going out on a rig Monday on the golf coast and probably going to Korea next week…I plan on going to Dubai in the next few months so get your fugging hand out of my god damn cookie jar you thieving bastard.

Whoa with the hostility.

[ILLRACEU]

@ultradriver10000

I make loads of money off it, I’m going out on a rig Monday on the golf coast and probably going to Korea next week…I plan on going to Dubai in the next few months so get your fugging hand out of my god damn cookie jar you thieving bastard.

:highfive:

[Carnut]

@StrokedZ28

Well first off my fathers company does not have really any stake in the economy. So there really isn’t any comparison.

What kind of business does your father run? I’m curious if you don’t want to post it up you can PM me, im much too lazy to google it.