This is not the free market. Oil companies are protected from competition and the free market by government regulations. In much of the world the oil companies are nationalized and part of one cartel or another. In the US we a stuck with big oil's effective cartel. This is not a free market, it's very far removed from one.
In the mid 90s oil companies set out to reduce gasoline refinery capacity to increase profits. google for the actual documents. They can do this because entry into the business is effectively blocked by government regulation.
Then there is the dollar problem. The dollar is tanking. 35 cents of 90% silver coin still buys more than a gallon of gasoline.
Lastly, there is no oil or gasoline shortage. Stockpiles are increasing despite production cut backs. Demand is falling but price continues to rise because free market principles do not apply. See the articles in buisness week.
We are being conned. By the government and by the media.
This is not the free market. Oil companies are protected from competition and the free market by government regulations. In much of the world the oil companies are nationalized and part of one cartel or another. In the US we a stuck with big oil's effective cartel. This is not a free market, it's very far removed from one.
In the mid 90s oil companies set out to reduce gasoline refinery capacity to increase profits. google for the actual documents. They can do this because entry into the business is effectively blocked by government regulation.
Then there is the dollar problem. The dollar is tanking. 35 cents of 90% silver coin still buys more than a gallon of gasoline.
Lastly, there is no oil or gasoline shortage. Stockpiles are increasing despite production cut backs. Demand is falling but price continues to rise because free market principles do not apply. See the articles in buisness week.
We are being conned. By the government and by the media.