Another, wider war looms.

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  • #51
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As far as I know, they weren't exactly price-gouging; oil was just in short supply; the global price was high. And anyhow, it wasn't that high, only $66 a barrel or whatever. Not as high as I thought it would go.

Let me see if I understand, oil was in short supply, demand is somewhat inelastic, so prices went up. But there not selling more, they are selling less, yet profits were record. No wonder I didn't major in economics.
J
 
  • #52
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Let me see if I understand, oil was in short supply, demand is somewhat inelastic, so prices went up. But there not selling more, they are selling less, yet profits were record. No wonder I didn't major in economics.
J
They sold less for much more per gallon. Price gouging was built into the system when the FTC allowed so many oil companies to merge. It got even worse when they allowed the refineries to merge.
 
  • #53
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They sold less for much more per gallon. Price gouging was built into the system when the FTC allowed so many oil companies to merge. It got even worse when they allowed the refineries to merge.
Edward,

That was this dumb hick's take on it. Theres a mix of supplies at various costs and bought at different times, but with gasoline prices it's always built around worst cost. And let us not forget the annual summer gouge here in the US, whatever world costs are.
J
 
  • #54
verty
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Who is a dumb hick? (honest question)
 
  • #55
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yours truly.
 
  • #56
BobG
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Who is a dumb hick? (honest question)
yours truly.
If his name is any indication, denverdoc is one of them big city fellers compared to us folks down here in the land of James Dobson, Ted Haggard, and Doug Lamborn.
 
  • #57
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Hey aren't those those guys down residing within the last city fit for Beaver Cleaver, where fags are fags and run out of town for it, where one can feel close to God and Norad at the same time--I'm getting a spinal shiver just thinking bout it.
J
 
  • #58
Astronuc
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US ex-generals reject Iran strike

Three former high-ranking American military officers have warned against any military attack on Iran.

They said such action would have "disastrous consequences" for security in the Middle East and also for coalition forces in Iraq.

They said the crisis over Tehran's nuclear programme must be resolved through diplomacy, urging Washington to start direct talks with Iran.

The letter was published in Britain's Sunday Times newspaper.

It was signed by:

Lt Gen Robert Gard, a former military assistant to the US defence secretary

Gen Joseph Hoar, a former commander-in-chief, US Central Command

Vice Adm Jack Shanahan, a former director of the Center for Defense

"As former US military leaders, we strongly caution against the use of military force against Iran," the authors said.
Military action is not warranted.
 
  • #59
turbo
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US ex-generals reject Iran strike

Military action is not warranted.
No, it is not warranted, but it is probably coming. Bush and Cheney's friends will siphon off billions more if they start another war, and that is enough justification for them, I fear. They started the Iraq war with no justification but the money that Halliburton's subsidiaries and other contractors would get. Even today, Bush cannot come up a single reason why that war was necessary. Instead, he tells us how different the world is after 9-11, as if Iraq had anything to do with that. :grumpy: War is the biggest business in the US and the Bush family has been involved in financing and fomenting them for generations.
 

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