Shek

While "big oil" is a frequent target by many, this particular blog entry looks at Obama's stance against "big oil". The entry is rich in images and blockquotes, so I'd urge folks to go direct to the link for the whole article and context. Here's a quick intro:

One point that stood out for me, and one that really isn't a surprise when you think about it, but if you go after "big oil", you are really going after "big oil" and the everyday person.

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"So little pains do the vulgar take in the investigation of truth, accepting readily the first story that comes to hand." Thucydides 1.20.3

Sardaukar

I find it really interesting how americans view the world (or maybe i should say american republicans). We pay about 1.45 Euros per liter of Petrol in Germany. How much do you guys in the States pay?

Ironduke

$3/gallon or $0.80/liter.

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The Buck Stops Here

T_igger_cs_30

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FEAR NAUGHT

I don't work here ...I am an analyst!

JAD_333

Good stuff, shek. As always a deeper look changes perceptions.

Obama is either incredibly naive--add to that, uninformed--or he is pandering to America's anger at rising gas prices.

Maybe, both.

With respect to new refineries, the greens who oppose them seem to envision the US as one huge national park. I'll take more notice of them when they give up their cars and start riding horses.

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To be Truly ignorant, Man requires an Education. (Plato)

JAD_333

1 gal = 3.78 liters

1.57 USD = 1 Euro

you pay 1.45 euros a liter

which is 5.48 euro a gallon

5.48 euro = $8.60

You are paying more than twice what we pay, and we're *****ing more.

This morning I paid $116 for 25+ gals of diesel.

Ironduke

Yes, but almost everybody in the US drives to work, whereas in Europe distances are less and mass transit is more common.

glyn

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Semper in excretum. Solum profunda variat.

JAD_333

True. My thought when I saw all the homes going up in the exurbs (beyond the suburbs), what fool would live this far out of town with gas prices rising. A lot of people out my way commute 70 miles to their government jobs in DC. :eek

T_igger_cs_30

JAD_333

Not to hear them complain. As shocking as it may seem, the US gov't doesn't give allowances to its employees commuting to and from home to work. Same goes for other commuters. But if your job requires that you drive your own vehicle, you can get a sizeable deduction on your income tax return of around half a buck for every mile driven. As a builder with jobs all over the region, I log between 20 and 24K miles a year.

T_igger_cs_30

Sardaukar

Read a couple of posts here (regarding the elections and all)...

Seems to me that most of the American posters here are Republicans. Greens and Socialists seem to be your favorite antagonists. How different the world is on the other side of the atlantic!

When i read things like -> USATODAY.com - ExxonMobil amasses record $36B 2005 profit i find it difficult to agree to the above mentioned article. One gets the idea here that the "honest and hardworking" Oil Industry is being bashed by bad bad politicians.

Is this really the way you people see the matter?

By the way, Intel and Microsoft do not make such profits (in absolute terms).

JAD_333

Generally, you are right. Most people here are conservative in their politics. Socialists tend to impose an order on society that we believe is too intrusive on individual liberty and, especially on those of us who believe in greater self-reliance. However, that does not mean we are opposed to government helping people who truly need it and have no other recourse.

As for greens, there are many types. So I wouldn't condemn them all. Some do good work to protect the environment while others try to impose their vision of the world on everyone irregardless of the inertia it may cause, say, in maintaining a healthy economy and so forth.


Yes, most do. The fact is that the majority of people do not investigate what they hear on TV news or read in the newspapers. For example, thanks to Shek's post we see that Exxon is a very small player relative to others in the oil world. But to the public suffering from high gas prices, it's revenues seem obscenely large and earned from their suffering. On would think that the public's opinion comes from politicians who are also complaining about these large profits. But in reality, it's the other way around. Politicians are quick to pick up public sentiments and play on them for various reasons, but mainly to get votes when they run for re-election. It becomes dangerous when politicians actually go through with their promise to add more taxes and regulation to oil companies because it adds even more to the cost of the product, at least it does in a competitive economic system.

No, but percentage is a more critical measure.

JAD_333

Ah..that 50c a mile is a deduction from gross income...the actual savings depends on your tax bracket....I may actually benefit about to the tune of 18c mile taxwise.