Oil Grandstanding

(or how I stopped caring about the profits of oil companies)

Every time I hear someone (usually liberals, bless their hearts) blame oil company profits for the high cost of oil, I want to rip the wings off a butterfly. Politicians love grandstanding on it - grilling these execs as though it will reduce the price at the pump.

Meanwhile, conservatives are trying to blame environmentalists for the lack of spare refining capacity - but I don't see any of those Republicans moving downwind of one (even with the enviro regs we have pushed over their objections).

High oil prices hurt. It is like burning yourself on the stove. Short term pain for long term gain. You learn a lesson. In the larger sense, Americans need to learn to be more efficient with fossil fuels. We could have learned it decades ago, but we chose to be irresponsible instead, hoping that prices would always stay low - which may be as naive as hoping Republicans won't hit on you in the bathroom.

Back to the point - oil prices are high because there is a fixed amount and LOTS of people want it. It takes a decade to really increase the supply on the market, which means when demand suddenly accelerates, the cost must go up (to make sure what is available goes only to those who really want to pay for it).

Executive pay has nothing to do with it. Oil companies are making insane profits. If they were forced to lower prices, we would see shortages. How pissed off would you be when rolling up to empty gas stations? Want to drive another 10 miles to find a gas station with gas?

There is another factor - one I am pissed I do not see enough taking seriously. The cost of oil has doubled in Euros but quadrupled in dollars. This is because the dollar has dropped significantly in value. The Bush Administration has thoroughly trashed this country - and the Republican nominee (McCain) admits he knows nothing about the economy.

Great. And he'll probably be elected because he wants to put women back in their place, encouraging the government to make decisions about their body if they become pregnant. And the people that elect him will continue bitching about tax-and-spend liberals while chickenhawk Republicans borrow to fight stupid wars around the planet and liberals bitch about oil companies.