OPEC accuses U.S. on oil prices

[FlickerFade]

yet another blunder by our wonderful administration. There is no way to know if the new president can do anything about this...but our current administration really let things get out of hand. This started with Katrina and Rita...and has never recovered.

Simplistic drivel.

If we'd actually begin to drill for oil in ANWAR and other US territories the signal for increasing domestic production would immediately stem commodity prices.

It's the very Al Gores' of the world and others who WANT higher energy prices to get us off of oil who are our industries enemy's. Let's not support those who want to do everything possible to increase oil prices.

This is of course one issue of many that effect global oil prices. The uncertainty in countries like Venezuela with their communist dictator is another.

 

[FlickerFade]

The only problem is that crazy dictators mismanage their oil resources so badly that they reduce the productivity of their own fields. There was an article in the Economist recently about how Chavez was doing this in Venezuela. This can cause a reduction in supply that creates upward pressure on oil prices.

Even Mexico mismanages its oil reserves.

The factor with crazy dictators is the uncertainty they bring to the market. Oil futures are at least 25% made up of volatility created by crazies in Venezuela and Iran.

 

[Poahi]

Yet I continue to fly with a bunch of tools saying how America is the best! America is the best etc...

AT WHAT???

Qualified hyperbole is not authorized on this board. Please see Majors or Flight Attendants.

 

[lowecur]

"The only reason that prescription drugs are so expensive here is because companies are at such constant risk of litigation, and therefore they protect themselves by keeping costs up to cover payouts. Why do you think you can get things so cheaply in Mexico?"

I tend to disagree with some of that, the Mexico part in particular. Mexico is more like incremental revenue, iow, the US consumer is paying the cost for research, development, marketing etc., because they US consumer has money, the Mexican consumer does not.

You can sell Celebrex, just an example, for 10 dollars a pill in the US, but probably less than a dollar in Mexico. The Mexican consumer canot afford it. So, the US consumer pays the cost.

$5 aspirin at the hospital, no, we are not getting screwed on that deal?

The US consumer is the engine that stirs the financial gains of all the major pharmaceutical multinationals around the globle. Pfizer just today won a battle against Teva to keep generic celebrex from being brought to market. All the major pharmaceutical multinationals won approval in India in 2005 to keep generics from coming to market on drugs brought to market after that time. India had been the outlaw country where patents were ignored. No more folks. India wants to sell cancer drug Tarceva to 3rd world countries that cannot afford it, but big pharma lobbyists put an end to that in 2005 when they pressured the WTO to threaten sanctions in India for not complying with patent protection on their drugs.

High medical costs in the US are a combination of greed that knows no boundries. Lobbyists patrol both houses of Congress to insure that the American Consumer continues to have the highest health care costs in the world. From Doctors, to Big Pharma, to Medical Equip Cos, Insurance Companies, Lawyers, all have a stake in making sure you pay thru the nose. I have a couple of physicians I use that have a big sign on their wall that says they don't carry Med Malpractice as it's too expensive. I then asked them why they haven't lowered their charges and all I get is a cold stare. Went to a baseball game with another over the weekend, and he told me he has no guilt in letting big pharmas take he and his wife to dinner at least 2 or 3 times per month. Do you think his patients are getting an unbiased decision on what drugs he will prescribe?

imp: ​

 

[zman]

With the way this economy is going people are smart to be saving their money instead of spending it, its amazing how people still go out and buy knowing how much debt they carry. If people like to admit it or not we are in a recession how far we goes who knows, but one thing is certain the people who are saving and putting money aside, perferably in gold or silver will be the best ones standing.

 

[Donald]

How should an oil field worker vote?

Seriously, I have a cousin that works for Exxon. He is a democrat and agrees with the favoritism W has toward big oil. It has however, provided him with a great income for 7 or so years. Now he is worried that if a democrat gets elected, it will be "party over".
Anyone want to chime in here? Especially since nobody was brave enough to answer my other question (top of page 3).

 

[~~~^~~~]

Nevermind....

 

[Donald]

Guys, this has been a very interesting post. I think the most accurate statements are how we must blame ourselves. We ask for the govt to step in, and inevitably it makes matters worse. Then we complain about mismanagement, which is an accurate statement too. I guarantee that when we get socialized medicine, it will be full of mismanagement. With the exception of the military, when does the Federal govt manage anything well, regardless of who the president is. Look at the Federal Reserve. Intended to ease fluctuations in the economy but over time has done more harm than good.
I agree Bush has done very little to ease oil prices. He is doing what Republicans do. Letting the market correct itself. And, I'm glad. I hate it when the feds interfere in the aviation industry, why would I want them to interfere in the oil industry. Remove those caps. Is high gas prices a hardship for me, yes. But its creating a demand for alternatives like never before, and I like that. I don't what gas prices to go back down. In fact, I hope they keep going up. Its creating a movement worldwide that no goverment could ever create and I feel OPEC and big oil are shooting themselves in the foot. I worry that if gas prices do go back down we will forget, and all progess towards alternatives will cease.
I agree with the Democrats on some issues, but unfortunately, I will probably vote for McCain. For one main reason. Liberalism scares me. It too closely resembles socialism. I can accept some forms of socialism but only state sponsored (ie police/fire protection, public schools, etc) I define socialism in three words. Protection from hardship. I don't want protection from hardship. I chose to stand on my own two feet. I feel humankind needs hardship from time to time. Its what incourages invention and (if I may us a common phrase) forces us to adapt and overcome. I've read enough history to know that a capitalistic society flourishes compared to a socialistic society. Its not very friendly to those who don't want to perform but for those who do, it offers the prospect of wealth which is enormous incentive. It's not perfect, it can create corporate greed, but I'll take that any day over gov't greed. OK, I'm done

 

[FlyFastLiveSlow]

Its not very friendly to those who don't want to perform but for those who do, it offers the prospect of wealth which is enormous incentive.

What about those who truly want to perform, but cannot.

It's not perfect, it can create corporate greed, but I'll take that any day over gov't greed.

Seems under the current administration, we have a pretty healthy dose of both. Wait, is it greed? Or corruption that we are riddled with?

 

[GogglesPisano]

If you want to control the cost of healthcare then attack the root of the high costs. Place limits on malpractice awards. The only reason that prescription drugs are so expensive here is because companies are at such constant risk of litigation, and therefore they protect themselves by keeping costs up to cover payouts. .

This is a direct line from the pharmaceutical industry lobby. Similar to the credit card companies claiming the reason for high interest rates is due to defaults.

The fact is, in a free market, companies charge as much as the market will bear. And they do.

It has nothing to due with malpractice awards.