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Squawk of the Day - September 3, 2012

" Hurricane Isaac caused minimal disruption or damage to the oil companies. The soaring prices are just further proof that their greed knows no bounds."

For more squawks, pick up a copy of today's Albany Herald.

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Comments

VSU 1 year, 7 months ago

I wonder if that squawker is still praising Obama for lowering the gas prices, even though the presidents have nothing to do with it..... although the democrats are probably still blaming Bush for it.

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beartrap 1 year, 7 months ago

that squawker(me) was pointing out what a bunch of greedy s.o.b.'s the oil companies are.....the only thing obama deserves credit for is screwing up this country big time...

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waltspecht 1 year, 7 months ago

The Traders dictate the price they sell their holdings to the Public for, not the Oil Companies that have sold to the Traders. The gas currently in the pipeline is probably 2 months old as to purchased price of crude. These individuals have found a way use their money to steal yours.

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erudite 1 year, 7 months ago

It takes a while for the rigs to be relocated and back online. Isaac had bad timing...the Syrian war, the explosion at the South American refinery and the greed that is an essential part of capitalism.

If the prices continue to rise next week, then we will know for sure that it is greed.

Here is where we can bring some work and pride back to the States--what happened to our wonderful railroad travel? We could teach folks how to restore track, how to plan transportation routes, build more stations or refurb the stations we have, build cars and engines...I think we may be able to save pertroleum (we can get more miles and people per gallon of diesel than gasoline). There could be smoking cars and kid/pet friendly cars, bicycle racks....

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FlunkyMonkey 1 year, 7 months ago

Haven't you heard? President Jackass is more concerned about the jobs he can fill with ILLEGAL ALIENS than jobs that will put America to work. Our government is borrowing from China to keep money flowing to Mexico through the illegal pipeline. And this post makes a lot of sense--I always wanted to travel on a train, just once before I die.

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FlunkyMonkey 1 year, 7 months ago

If I remember right, we have had a couple of presidents actually bring the traders under control by lowering the price THEN FREEZING IT....

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Amazed2 1 year, 7 months ago

Sounds good but the President could only freeze the supply of oil drilled, pumped and refined here in the good old USA. Unfortunately we don't make enough oil/gas here to run too many cars and trucks. We have to depend on the Mid East and other countries for a large percentage of what we buy on the World MArket and refine. That oil goes up for sale on the World Market and countries like China are demanding and buying more and more of the World Market Supplies as well as other developing countries. If the President of the good old USA says we are freezing what we are going to pay for Oil our so called Mid EAstern friends will say Sorry Mr. Obamy we like you but we ain't stupid we can get more from China and other countries than you dumb Americans anyway. What we need to do is not freeze prices but open up land and offshore and offer incentives to true AMerican Companies to drill and process it into gas and diesel while we implement a 10 to 20 year alternate plan. I am going to Europe soon for the first time and I am amazed at the network of regular trains and High Speed Trains avaialble. The USA has let the rail system deteriorate and go away. We are going to have to revisit the rails as well as develop our own supplies of oil while we work at alternate energy. Ain't going to happen in a 4 year term so we need a master plan that NO single Presidency can kill.

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erudite 1 year, 7 months ago

nothing will happen in a 4 year term; monied folks made sure with FDR that noone could serve more than 8 yrs. Nothing can get done in 8 years either.

Get ready for Europe...trains go everywhere and they are ON TIME. If it is scheduled to leave at 5:01 AM (it is the 24 hour clock so 5 PM =1700), it will leave at 5:01 AM, not 5:01:15 but 5:01:00. NO COUNTRY IS AMERICA THAT SPEAKS A DIFFERENT LANGUAGE!! Do not expect it to be like here.

Europeans have been paying over way over 4$ a gallon for over 10 years..petrol is about 4 euros a liter now (~6$) and there's almost 3 liters in a gallon....if you are going to England, that is NOT Europe. And do not want to be considered so!!

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RedEric 1 year, 7 months ago

The DAY the president lifts all restrictions on oil production the price will go down. The speculators will do that to discourage investment in new projects I.e. reducing return. They know oil is abundant and we are buying oil from the Mideast for political reasons. The lies have been so pervasive most now believe it. Get out of that rut, please. Oil wells in Texas that were pumped "dry" years ago are now full again. Probability is that oil is a byproduct of a chemical reaction within the earth and not due to old plants and lizards. Running out of oil is the same lie as PCBs and CFCs. It seems like these lies were designed to test the scientific community to see if they could be bribed into going along...they did. Global warming is the result of that collaboration and with that lie government can control everything..every aspect of your lives.

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Amazed2 1 year, 7 months ago

Just a little more to it than turning on the faucet once the storm passes. Remember most GUlf oil platforms are at sea and had to be evacuated days ahead of storm track. Shutting down and remobilizing takes a while Remember OBMA put stricter new guidelines on the oil operations. Rigs have to evaluated for damage after remobilization repaired etc. Supply and demand on world market is main reason for spike. WE aint the only major players ouout there no more. I think some other countries discovered the auromobile.

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Amazed2 1 year, 7 months ago

The United States competes with China on the world market for oil. Besides that we are at a great disadvantage because we buy most of their products here in the US. The Federal Goverment borrows millions and billions of cash (Obama) from the Chinese to pay for his deficit spending program. One day we and our children of the future will speak chinese unless things change course.

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erudite 1 year, 7 months ago

Who opened the door to Chinese trade? First Nixon, and then Reagan. In order for us to have cheapo PLASTIC/polyester/computers/phones/ clothes/shoes/baby things which are made from PETROLEUM or contain PETROLEUM by-products at Wal-Mart, Dollar Stores, Fred's, Dollar General, K-Mart, Sears, Dilliards, Belk's, Penney's....if Wal-Mart were a country, it would be China's 8th largest trading partner!! WE are to blame not any president: NASCAR, private jets, motorcycle races, boat races, off road races, Hummers 1,2,3; SUV's and not a mountain around for 100's of miles....it is US, folks, US.

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FryarTuk 1 year, 7 months ago

GREAT SUBJECT SQUAWKER! America needs an organized energy policy focused on the good of the United States citizens not party politics. Both parties are equally responsible for the incredibly stupid and corrupt energy policy of the US government - all of them! The fortunate point is there are viable, relatively quick solutions which could work for the good of jobs, environment, US money stability, geo-political diplomacy and consumerism. The unfortunate point is that it is painful - for the politicians. So it will not happen until we get sick of hope and change and Ayn Randism and elect persons capable of understanding governing this country in other than divisive strategies. That pretty much excludes half of Washington.

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LoneCycler 1 year, 7 months ago

The oil companies profit around 10 cents per gallon of gasoline. The federal tax of 18.4 cents plus the state pre-paid tax of 9.2 cents and the state excise tax of 7.5 cents, per gallon of gasoline, adds up to 35 cents. So the government makes more money from gasoline sales than the oil companies do. The government didn't have to drill for it, extract it, refine it or transport it to sell it, but they still make at least 3 times as much as the oil companies do. Does that seem fair? If it does, you must be a democrat.

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Sherwood_Eagle_Alum 1 year, 7 months ago

Oil companies have profits in the billions each quarter due to price gouging...

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Sherwood_Eagle_Alum 1 year, 7 months ago

10 cents per gallon? Try 5-10% margin which is obviously much higher than 10 cents per gallon. During 2012 Q1, Exxon had net income of nearly 15 billion. That's for 3 months...

Last year BP had profits of close to 30 billion.

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LoneCycler 1 year, 7 months ago

We are talking the cost of gasoline, not quarterly profits by Exxon or BP, but I can address that issue too. Exxon, like other companies, sells other products besides gasoline, and they have to include profits on those products in their quarterly reports. Exxon sold their refinery plants in Japan, as an example, for around $7.5 Billion and that accounts for almost half of their reported profit for the entire quarter. BTW, this is after they paid $26 Billion in taxes/royalties. They did not make $15 Billion from sales of gasoline that many would claim is proof of price gouging. The fact is that America consumes around 367 million gallons of gasoline per day, 133.9 Billion gallons per year, allowing oil companies to bring in almost 14 Billion annually on just 10 cents profit per gallon of gasoline. They also sell diesel and crude oil and refined chemicals, too, and their profit comes from all these as well as many other products space prevents mentioning.

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FryarTuk 1 year, 7 months ago

Don't try to cast energy as a democrat or GOP issue. That is dishonest. No party has addressed energy with the good of the American citizens at heart. Not either, never.

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LoneCycler 1 year, 7 months ago

You don't answer if it seems fair to you that the government should profit three times as much as oil companies do. And it is a GOP/DP issue, as nobody in their right mind would ever vote for that kook Ron Paul.

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FryarTuk 1 year, 7 months ago

asyou bring the issue of fairness, just remember what that great moral giant tony hayward, presof bp oil, while tens of thousands ofsoutherners were experiencing chaos after the bp oil spill, "i want my life back. " then retreated to his multimillion $ yacht. all the while lying his a$$ of to his buddies in congress who let him get away. also the chicken $==it obamafresh from bowing to uncle fez. you address what is fair to the American citizens not what is fair to big oil or the gov stooges, that is the question.

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LoneCycler 1 year, 7 months ago

Well. You seem upset about something. My reply to you is that Americans should not be paying as much as they do for gasoline. Certain people hate the oil companies because they make a profit. To them profit is a dirty word. They think the government should be handing out gas coupons like they hand out EBT cards -- let somebody else pay for it. I'm just pointing out that for every 10 cents the oil companies take the government takes another 30 cents on top of that. And no, that's not fair.

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FryarTuk 1 year, 7 months ago

Cycler, excuse the late response I was attempting to follow and reply on the IPHONE which was having connection problems. My issue is not with the gas companies making a problem. But you know the 3.5 - 6% reported as net net is not bad in comparison to most companies bottom lines. You should also know that their reporting does not include the tremendous lateral movement of money whether it is right offs, bonuses, huge salaries, corporate jets, government subsidies, stock options, golden parachutes, retirement plans etc. So I won't be attending a pity party for petro corps at any level. My concern is the best interest of the citizens of the USA which I believe will best be served by becoming independent with regards to energy and most particularly carbon based fuel sources or fossil fuels. The large oil companies and petro based industries including auto manufacturing have essentially made political choices for us by setting only one agenda which is common to DEM and GOP political party. The carbo based technological industries preclude movement to CNG and hydrogen because they have put all their eggs in one basket. Note that Europe has effectively modernized their auto mfg so that cars now produced in Europe must have an NG port. You see we have an abundance of NG and hence a source for hydrogen fuel. We have the technology and it has some cost but nothing like a cash for clunker program. Or a Bush TARP price tag. With this direction we address numerous issues successfully. Environment-NG and H produce minor emitions of either H or H20. Air quality resolved. Consumers can have big cars, medium cars, small cars - consumers happy. Auto mfg can produce full line of cars and therefore we have more jobs. We produce the fuel from American source and keep our cash home therefore we have stabilized money fund and currency. We don't buy oil from people who hate us or countries who don't support us. We level the playing field internationally from a diplomatic perspective. We are selling ourselves and the future of generations to come by following the Kissinger, Carter fuel road. Sorry, if I came across with an attitude I was having a bit of an issue with the iphone and I do feel passionately about the subject because it is so critical.

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revolutionnow 1 year, 7 months ago

Amen FryarTuk. But I have to agree with LoneCycler on one point. It is not a Rep/Dem issue. Both sides are little more than pimps for big oil and big money. They talk about creating jobs while sending billions offshore that they made in this country. We need to eliminate career polititians and get back to "citizen servants" as outlined in the constitution . Not elect a bunch of people who are only there to get rich or richer.

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Sherwood_Eagle_Alum 1 year, 7 months ago

How does the VZW iPhone suck? Shame on you for being an iSheep and buying it because everyone else was doing it.

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FryarTuk 1 year, 7 months ago

Bibleschooler, don't be so quick to respond to innocuous remarks using the word suck. You may give the wrong impression of yourself.

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Sherwood_Eagle_Alum 1 year, 7 months ago

Your intelligence never ceases to amaze me. Because of you I have now changed my stance on birth control. If only I had a Delorian, a flux capacitor, and 1.21 gigawatz of power...

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Sherwood_Eagle_Alum 1 year, 7 months ago

*change "birth control" to "abortion"

my apologies for the mistake

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Tonto 1 year, 7 months ago

No one makes you buy their product. You choose to. You may need it to get to work,yada,yada but the fact remains, the person who wants something does not tell the person who has it what they must charge for it. Don't like it, find another way. Before the automobile age, the "oil" producing countries were stone-age cultures. We had our gold mines and forests... we didn't let the world (or their poor needy citizens) tell us what we could "charge" for our exports..supply and demand did that. Same reason some of us live in modest housing and some live in mansions; life isn't about making everyone's life easy. Want to stymie the oil countries, don't travel on labor day/any holiday when they raise prices. Car pool, take public transport, turn off lights in empty rooms but quit complaining while filling up the Ram 250 for that little jaunt to the other side of the state or air conditioning the whole 5 bedroom 4000+ sqfr home that 2 or 3 folks live in. But I bet it doesn't bother you enough to make changes to your life..just want to change others. You sound like the same folks you complain about with welfare...entitled to get what you want on your terms. Of course, let's not forget that all Americans expect a raise and a bonus and their investments/401K to go up and their job to last as long as they want and their retirement savings to grow accordingly and someone else to pay their medical bills...but damn if they want that for anyone else cause raising prices just ain't right.

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