[LadyRuby]

http://www.washingtonpost.com/wp-dyn/content/article/2005/08/05/AR2005080501997.html
$this->bbcode_second_pass_quote('', 'W')hen oil prices spiked -- and oil profits soared -- 26 years ago, virtually every newspaper intern in America (including me) was dispatched to gasoline stations to collect quotes from irate motorists. Big Oil was viewed as public enemy number one: Congress convened hearings to skewer oil industry execs, regulatory agencies investigated pricing, and some news organizations rented helicopters to scour the waters (in vain) for signs of oil tankers floating offshore just waiting for prices to climb higher.

In recent months, oil company profits have soared again as international crude oil prices have hit new highs. Yet the reaction of the American public has been more muted. And that has probably emboldened Congress -- which, instead of investigating oil companies, just handed them (by various estimates) anywhere from $1.4 billion to $4 billion in tax breaks in the new energy bill.

[dmtu]

I had a small minded epiphany recently but it's the reverse of hiding oil and has probably been figured out by everyone but me. If you are a CEO Why build more refineries, the end of the oil age is nigh? that's a relatively simple concept but I suspect there is more to it. By limiting the market they throttle the price of gas up and all the while force people to look at smaller cars. by forcing people into smaller cars they get to extend the amount of time that the companies can sell at higher profits than is typical. After all, making a profit is the only thing a corporation must do, that and jump trough environmental laws. Too bad the GD car companies and the feds aren't helping much. Has anyone heard of the oil companies jumping at the opportunity Bush gave them to claim defunct military bases? This seems to make even more sense when you consider that the majors are seemingly past peak because they will eventually have to get out of the oil producing biz, maintain their refining and hopefully throw some money at enviro friendly alt energy.

Additional thought: since Bush is closely tied to oil doesn't it make sense that big oil takes the heat for the admin, is that what the secret Cheney gig was all about? Flame away!!!

Regardless of the above theory, I recently saw a guy at the Wendys drive through in a late model esuvee, he tried three credit cards before one worked. At the time I couldn't help but wonder what it will be like at xmas time. I think the holidays this winter may be the most stressful to come in a long time. That's when you'll really hear about gas prices.

[hotsacks]

[quote]When oil prices spiked -- and oil profits soared -- 26 years ago, virtually every newspaper intern in America (including me) was dispatched to gasoline stations to collect quotes from irate motorists. Big Oil was viewed as public enemy number one: Congress convened hearings to skewer oil industry execs, regulatory agencies investigated pricing, and some news organizations rented helicopters to scour the waters (in vain) for signs of oil tankers floating offshore just waiting for prices to climb higher.
In recent months, oil company profits have soared again as international crude oil prices have hit new highs. Yet the reaction of the American public has been more muted. And that has probably emboldened Congress -- which, instead of investigating oil companies, just handed them (by various estimates) anywhere from $1.4 billion to $4 billion in tax breaks in the new energy bill.

The media has lost its credibility as the fifth estate in Western democracy. The old 'nose for news' is now brown from rubbing in places journalism once disdained. No one knows if its collusion or the result of a general dumbing down of the population. It's clear that A.people don't care because they're fat and rich; and B. apathy leads to agitation. I've got a feeling security companies are going to see a bonanza in guarding oil execs in the near future. A hard wind's gonna blow.

[LadyRuby]

$this->bbcode_second_pass_quote('dmtu', 'I') had a small minded epiphany recently but it's the reverse of hiding oil and has probably been figured out by everyone but me. If you are a CEO Why build more refineries, the end of the oil age is nigh? that's a relatively simple concept but I suspect there is more to it. By limiting the market they throttle the price of gas up and all the while force people to look at smaller cars. by forcing people into smaller cars they get to extend the amount of time that the companies can sell at higher profits than is typical. After all, making a profit is the only thing a corporation must do, that and jump trough environmental laws. Too bad the GD car companies and the feds aren't helping much. Has anyone heard of the oil companies jumping at the opportunity Bush gave them to claim defunct military bases? This seems to make even more sense when you consider that the majors are seemingly past peak because they will eventually have to get out of the oil producing biz, maintain their refining and hopefully throw some money at enviro friendly alt energy.

Additional thought: since Bush is closely tied to oil doesn't it make sense that big oil takes the heat for the admin, is that what the secret Cheney gig was all about? Flame away!!!

Regardless of the above theory, I recently saw a guy at the Wendys drive through in a late model esuvee, he tried three credit cards before one worked. At the time I couldn't help but wonder what it will be like at xmas time. I think the holidays this winter may be the most stressful to come in a long time. That's when you'll really hear about gas prices.

[jimmydean]

Short answer is that people are more apathetic now than in the 70's partly because we are spending more time working to pay off larger mortgages as well as larger credit borrowed. Just my humble opinion.

Post peak will simply be a cash grab for the oil cartel and the tax breaks are just making it easier for them. You can bet every oil company out there knows full well that searching for new oil is not going to pay off like it used to so why bother when they can make $60 to eventually $100+ a barrel of existing oil.