Comments on: Why Suing OPEC Won't Work

By: Michael Fermanich

Michael Fermanich — Tue, 03 Jun 2008 01:02:06 +0000

Well thank you Liz McDonald for grandstanding the truth about the “New World Order” via International Monopolies. As a graduate of Western Michigan University Majoring in Petroleum Distribution I find your communications interesting. Yes and do you understand the competition that has allowed the Oil Industry to offer cheaper priced products. I suggest you research the old anti-trust laws in the United States. “Fixed Pricing” is a NO NO via the Oil Industry, right? Thus why would it not be a NO NO on a International basis and goods sold around the world. I was a student during the Arab Embargo at WMU and took classes with various Saudis and Gulf Region students. In fact we discussed numerous times about the exploration and production of crude oil in the gulf regions via costs! Nothing has changed via getting sweet crude out of the ground and it is not any harder to find the reserves under ground via same costs. Would you like to know what my Arab friends had to say about Americans? Well they said “Americans are arrogantly cheap at the expense of others”. Yes I kept the quote for future resource in my law books. Ever hear of the word “collaboration”? In fact it is not legal for Oil Executives of various Companies to meet at the same place via anti-trust laws of the United States. The people are not getting the best price via “fixed pricing” on a International scale thus it should be against the law. Backbone would be in order with lots of money to be made by many expert lawyers. Liz, it is interesting that Fox panders for the International Elite at expense of United States citizens. How many of your viewers own stock of International Oil Companies and still complain about gasoline prices? In fact how many of your viewers are customers of other products controlled by other monopolies(International)? Why not just have your network post investment shows for the few elite that can afford high prices of many products?

By: Tony Deemer

Tony Deemer — Wed, 28 May 2008 11:00:03 +0000

While the U.S. government is pondering the propect of suing OPEC nations for manipulating the markets, there seems to be a rumor circulating that the Justice Dept. maybe investigating the commodity markets for artificially, if not illegally, driving the oil prices to again record levels. Its anyones guess how much teeth this rumor has but its out there.

By: Stephen Mallinger

Stephen Mallinger — Tue, 27 May 2008 20:13:34 +0000

This is an interesting article but of course suing will not work. They are other countries with their own agenda and they do not like the US. They tolerate us. What the US should do is to look to alternatives. I work on Capitol Hill but I do not work for any one on Capitol Hill. I have been there for the last 10 years. What most people do not understand is that decisions on the Hill are made based upon what constituents want in their own states. The Congress does not exist for the “collective good” except possibly for the military. Big corporations have more influence than individuals. Collectively, however, a large group of individuals have more influence than many corporations. Getting to my point, the US needs to wean itself from foreign oil, especially from countries where it is from coming today. Also, the organizations or people investing in the energy commodities futures should have competition. The US should heavily push plug-in hybrids. We have the technology. Most electric utilities have the capacity especially at night after peck usage. At $0.09 cents per kilowatt hour consumers can get an equivalent of a gallon of gasoline for $1.00. The energy is locally produced and even if produced by a coal power plant, the carbon dioxide amounts are still half of what an internal combustion engine would produce for the same amount of energy. All these studies are available by doing a search on Google. If consumers decided to switch to purchasing mostly plug-in hybrids, Congress would follow suit.

By: StephenL

StephenL — Tue, 27 May 2008 07:37:35 +0000

The democratic party promised us they would be fiscally responsible. No work on a balanced budget. No work to fix medicare. No work to fix medicade. No end to ear marks. And lots of plans to increase taxes. Not to mention INCREASED spending here and now.

After 1.5 years in office it’s time to face it…..the democrats are failing us. The republicans have failed us in the past. Who do we turn to?

And we have three Senators from our failed congress running for the White House. That’s not CHANGE that’s status quo.

By: Will

Will — Mon, 26 May 2008 17:21:59 +0000

I feel all these entries have merit. Overall it is collaboration of both producer and consumer to reduce demand and increase supply. The only two areas I seem to center on in conversations with this topic are:

First, when are the auto manufactures going to attempt to “catch up”? Remember when the energy crisis happened a couple decades ago. The US had to compete with Japanese auto makers having cars getting higher MPG. In the early 1980’s autos were at a level of fuel efficiency that is standard today. With increased technology you would think they can raise the bar.

Second, Increased oil production would lower the barrel price but remember that oil companies can and do control the price at the refinery level. The only think that would drive prices down would be if there was a law passed that oil refineries had to upgrade to increase production or, if a few more refineries were built and increased output.