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Oil Hits $74 Oil Hits $74

Submitted by opentalk | 8 months ago

Yahoo Finance - Oil touched a high for this year above $74 a barrel on Friday ahead of further pointers on the economic health of the United States and as the dollar flagged against a stronger euro.

Tags: oil prices, economy

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JLhiggins 7 months ago

Reply to wayway2tall
On oil I do support government control over the prices, just like they have done in the past. Once a … Show full comment

Are you studying creative writing in school? Me too. Do you mind if I tell you that you re trying just a bit too hard, to be believable?

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wayway2tall 8 months ago

On oil I do support government control over the prices, just like they have done in the past. Once an oil rig is established, it costs them somewhere between $3-$8 per barrel to produce the oil. Unfortunately for us, the demand for oil is so high that we would easily pay $300 a barrel if we had to. Supply and demand is all fine and good, but oil is an exception.

Many oil companies are consistently among the highest profits annually. They are profiting because they have effectively created a monopoly on the energy business by undercutting the price of any alternative energy system that's being produced, and then raising the price when their supremecy isn't challenged.

I believe that everyone should be able to make a profit, but price gaugeing and monopolies are wrong. It is wrong to make billions of dollars annually because the only other choice people have to power their car is to outfit it with a steam engine and use coal.

I just wanted to repost that because nobody has told me why the economy can be in recession, Oil prices can be higher than they're ever been, and Oil companies can be making record breaking profits (as was the case from 2004-2008). If that's the way that oil companies are going to run their business don't we have a right to be furious?

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wayway2tall 8 months ago

Reply to Patriot Watch
Illinois 57.9 65.7 6.25% sales tax. 0.003 per gallon tax for underground storage tank fund. Addition … Show full comment

oooo so you're counting a chicago tax. Well that's not indicative of the tax in illinois at all now is it?

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Patriot Watch (Independent) - 8 months ago

Reply to wayway2tall
The tax on gas per gallon is 33.8 cents in illinois, which isn't as high as California, New York, Fl … Show full comment

Illinois 57.9 65.7 6.25% sales tax. 0.003 per gallon tax for underground storage tank fund. Additional 12.75 cpg in City of Chicago

add federal and you are at .90 cents go to government

trust Jon Stewart more than any other news caster
waywayway2stupid
Saturday August 22 2009

liberals only use info that they want

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wayway2tall 8 months ago

Reply to Patriot Watch
Your government makes more per gallon than the oil companies. .90 cents in Illinois. Again your a … Show full comment

The tax on gas per gallon is 33.8 cents in illinois, which isn't as high as California, New York, Florida, or Connecticut. Let me give you some tactical advice. If you say that the tax on gas in illinois is 101.4 cents it sounds scary. And you don't have to mention that's the tax on 3 gallons of gas when people assume you're only talking about one gallon.

here's the website if anyone wants to check which of us is telling the truth. http://www.taxfoundation.org/publications/show/245.html

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Patriot Watch (Independent) - 8 months ago

Reply to JLhiggins
Sounds like you're all for government control over prices. So you say, the more govrenment control, … Show full comment

He's a socialist

trust Jon Stewart more than any other news caster
waywayway2stupid
Saturday August 22 2009

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Patriot Watch (Independent) - 8 months ago

Reply to wayway2tall
On oil I do support government control over the prices, just like they have done in the past. Once a … Show full comment

Your government makes more per gallon than the oil companies. .90 cents in Illinois.

Again your an idiot. isnt there a liberal site you can go to

trust Jon Stewart more than any other news caster
waywayway2stupid
Saturday August 22 2009

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Teikiatsu (Independent) - 8 months ago

Government price controls on ANYTHING is a sure fire way to start rationing it.

Bad idea.

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wayway2tall 8 months ago

Reply to JLhiggins
Sounds like you're all for government control over prices. So you say, the more govrenment control, … Show full comment

On oil I do support government control over the prices, just like they have done in the past. Once an oil rig is established, it costs them somewhere between $3-$8 per barrel to produce the oil. Unfortunately for us, the demand for oil is so high that we would easily pay $300 a barrel if we had to. Supply and demand is all fine and good, but oil is an exception.
Many oil companies are consistently among the highest profits annually. They are profiting because they have effectively created a monopoly on the energy business by undercutting the price of any alternative energy system that's being produced, and then raising the price when their supremecy isn't challenged.
I believe that everyone should be able to make a profit, but price gaugeing and monopolies are wrong. It is wrong to make billions of dollars annually because the only other choice people have to power their car is to outfit it with a steam engine and use coal.

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JLhiggins 8 months ago

Reply to wayway2tall
Talk about robot. Did it ever occur to you that oil prices rise because oil companies can charge wha … Show full comment

Sounds like you're all for government control over prices. So you say, the more govrenment control, the better?

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Patriot Watch (Independent) - 8 months ago

Reply to wayway2tall
Talk about robot. Did it ever occur to you that oil prices rise because oil companies can charge wha … Show full comment

It's called supply & demand 1 ounce.

If we started using our own resources prices go down globally.

You are a serious waste of time. Spend more time reading and less time with your crack pipe and play station

Go get a book about MLK and read nazi

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wayway2tall 8 months ago

Reply to Patriot Watch
THANKS liberals

Talk about robot. Did it ever occur to you that oil prices rise because oil companies can charge whatever they want and people will still pay?

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Patriot Watch (Independent) - 8 months ago

THANKS liberals

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