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Originally Posted by Razor
No I don't hate the oil companies, but what some people forget is that oil companies are in business to make money, not supply us with cheap abundant gasoline.
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Trust me, I *never* forget that. Why would you think that I would? But I don't consider it a problem either. Google Adam Smith and 'invisible hand' for more.
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As a corporation it is their duty to maximize their profits. Building new refineries and tapping new oil sources would increase supplies which in turn would reduce prices and lower their profits. You really think that is what they want? Lower profits?
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Of course I expect corporations to maximize their profits. I wouldn't have it any other way. But it's a balancing act for them between supply and demand. Oil companies are no different than any other industry in this regard. Name an industry that purposely over-produces, just to provide a low price to the customer, at the expense of their own (total) profits.
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Do you think George Bush would put a moratorium on drilling in the gulf without the oil companies blessings?
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I have no idea. You are going to have to provide a little more background than 'it is Bush's fault'.
-ERD50
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