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Old 05-05-2008, 07:35 AM
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Default Who are the owners of the major Oil Companies?

Does anyone know who owns them like Chevron, Exxon, Texaco etc? Are these owners at fault for the high oil and gas prices?
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Old 05-05-2008, 07:43 AM
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I don't think that the owner of these companies are at fault, but I could be wrong. I do thing the problem is the US is buying the Oil for gas from outside the US and the people we are buying from set any price they want cause they know the US will pay it, so that in turns drives up the price for the refinement to gas which the Gas companies pass on to the customers.

Now I know that the Companies Don't have to buy from overseas , but they do because the US Oil platforms are not producing the 2-3 million barrels a Day that are needed to make the Gas cost to comsumers at around 1.50 a gallon. So a double edged sword, they are and are not responsible for the High gas prices. The Government is responsible for not telling these companies to produce more US based GAS, seeing how if buying all the overseas Oil keeps less in Chinas' hands
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Old 05-05-2008, 08:04 AM
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Look to OPEC and it's member nations for the first round of price gouging. But, since they own the oil, and people will pay whatever they want, why not charge high prices per barrel?

If it was us, you'd real sure we would do the same thing.
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Old 05-05-2008, 08:11 AM
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There are a lot of things that probably contribute to the higher gas prices. Overseas oil producers are certainly one, and even there you can break it down to a number of things. While the US is a major customer of middle eastern oil, but we tend to get more of our oil from Latin America. Strained relations with Venezuela and the state takeover of oil sources there definitely didn't help.

Inflexible environmental protection laws in the US as well as environmental lobbyists probably don't help either. They either prevent the extraction of oil from domestic sources or severely limit the extraction of domestic sources regardless of whether or not we can extract the oil with little or no impact to the surrounding environment. The fact is environmental laws just like any other laws have to constantly be re-evaluated to make sure that they serve their purpose within reason.

Another big contributor is overseas economic and industrial development. Take a look at a lot of the stuff that we purchase on a day to day basis. Chances are 9 times out of 10, they have a "Made in China" sticker on it. It may seem insignificant, but in reality it means that a lot of manufacturing work is being done there, even more so than here in the US. This industrial infrastructure, which is and has been quickly expanding and requires power, which means a quickly growing demand for oil and other fuels. The United States and Europe are no longer the only big dogs in the neighborhood that require a great deal of oil to function.

In a climate change class that I took back in college, we took a look at a chart that takes a look at growth of carbon dioxide emissions in the US and USSR correlated with industrial growth. Throughout the Cold War as the US and USSR industries were on high gear and expanding, carbon dioxide emissions continued to rise at a relatively constant yet accelerating rate. Once the USSR collapsed and the Soviet economy collapsed, carbon dioxide emissions started to crash. The increase in US production of carbon dioxide started to slow down following the collapse of the USSR as its industry began to wind down. At the same time all this was happening, China's industry and carbon dioxide emissions has been growing at an accelerated rate. In fact some of the more recent estimates is that the Chinese carbon dioxide emissions are about or already have overtaken the US.

In the future we can see oil prices rise as well because what also dictates prices is not necessarily how much is still in the ground, but also how much of that is relatively easily accessible. For example in Canada some of the oil wasn't really economically viable, until recently, to extract because of the high sand content that has to be filtered out.
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Old 05-05-2008, 08:19 AM
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Quote:
Originally Posted by Akula2ssn View Post
There are a lot of things that probably contribute to the higher gas prices. Overseas oil producers are certainly one, and even there you can break it down to a number of things. While the US is a major customer of middle eastern oil, but we tend to get more of our oil from Latin America. Strained relations with Venezuela and the state takeover of oil sources there definitely didn't help.

Inflexible environmental protection laws in the US as well as environmental lobbyists probably don't help either. They either prevent the extraction of oil from domestic sources or severely limit the extraction of domestic sources regardless of whether or not we can extract the oil with little or no impact to the surrounding environment. The fact is environmental laws just like any other laws have to constantly be re-evaluated to make sure that they serve their purpose within reason.

Another big contributor is overseas economic and industrial development. Take a look at a lot of the stuff that we purchase on a day to day basis. Chances are 9 times out of 10, they have a "Made in China" sticker on it. It may seem insignificant, but in reality it means that a lot of manufacturing work is being done there, even more so than here in the US. This industrial infrastructure, which is and has been quickly expanding and requires power, which means a quickly growing demand for oil and other fuels. The United States and Europe are no longer the only big dogs in the neighborhood that require a great deal of oil to function.

In a climate change class that I took back in college, we took a look at a chart that takes a look at growth of carbon dioxide emissions in the US and USSR correlated with industrial growth. Throughout the Cold War as the US and USSR industries were on high gear and expanding, carbon dioxide emissions continued to rise at a relatively constant yet accelerating rate. Once the USSR collapsed and the Soviet economy collapsed, carbon dioxide emissions started to crash. The increase in US production of carbon dioxide started to slow down following the collapse of the USSR as its industry began to wind down. At the same time all this was happening, China's industry and carbon dioxide emissions has been growing at an accelerated rate. In fact some of the more recent estimates is that the Chinese carbon dioxide emissions are about or already have overtaken the US.

In the future we can see oil prices rise as well because what also dictates prices is not necessarily how much is still in the ground, but also how much of that is relatively easily accessible. For example in Canada some of the oil wasn't really economically viable, until recently, to extract because of the high sand content that has to be filtered out.
Some excellent debate points, and insight there!
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Old 05-05-2008, 08:22 AM
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But do you all know who owns the companies? I am in the business but am curious to know if you do. A lot of people have wrong misconceptions of who are the owners.
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Old 05-05-2008, 08:31 AM
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Stockholders. All of the major oil companies are PTC's. I'm not sure who owns the controlling votes however. I remember reading somewhere that most of them are controlled by GOP interests. Once again, more proof that republicans are greedy a**h*les.
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Old 05-05-2008, 08:39 AM
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Radioactive hampsters from a planet near Mars? LOL...sorry had to ligthen the mood.
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Old 05-05-2008, 08:46 AM
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Quote:
Originally Posted by FanWriter45 View Post
Stockholders. All of the major oil companies are PTC's. I'm not sure who owns the controlling votes however. I remember reading somewhere that most of them are controlled by GOP interests. Once again, more proof that republicans are greedy a**h*les.

Well at the same time, I've also heard that some Democrats hold stocks in companies that would profit greatly from implementing things like carbon credits and other draconian methods to mediate climate change. Doesn't matter what side of the isle your on. They're all mostly greedy as hell.
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Old 05-05-2008, 08:49 AM
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Quote:
Originally Posted by Akula2ssn View Post
Well at the same time, I've also heard that some Democrats hold stocks in companies that would profit greatly from implementing things like carbon credits and other draconian methods to mediate climate change. Doesn't matter what side of the isle your on. They're all mostly greedy as hell.
Current politics is about corruption, and lining your pockets.

I wonder if these people would be as hot for the jobs if they only made 11 bucks an hour doing it?
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