[geeks] Mr Bill?

[Michael Parson]

On Sep 19, 2008, at 11:22 AM, Joshua Boyd wrote:

> On Fri, Sep 19, 2008 at 11:56:52AM -0400, Lionel Peterson wrote:
>> On Sep 19, 2008, at 11:09 AM, Joshua Boyd <jdboyd at jdboyd.net> wrote:
>>
>>> On Fri, Sep 19, 2008 at 11:00:40AM -0400, Sandwich Maker wrote:
>>>
>>>> " My co-workers think it is a plan by one political party to lower
>>>> gas
>>>> " prices for the election
>>>>
>>>> the party in power is not above using their powers in tactics like
>>>> this in order to influence elections...
>>>
>>> I'm quite certain that the party not in power is also not above  
>>> using
>>> their powers in tactics like this in order to influence elections...
>>
>> What, like send out "refund" checks just before an election? Who  
>> would
>> do such a thing...
>>
>> Though I did hear from one party that we may need ANOTHER stimulus
>> check from the Gov't, but I can't remember which it was...
>
> I also heard someone from one of the parties saying that the federal
> government should have fannie and freddie stop foreclosing now they
> they've been taken over.
>
>> While you (and my coworker) may agree, since the Gov't doesn't
>> actually own any gas stations, refineries, tankers, oil rigs or oil
>> companies, I fail to see how they could effect this change in price,
>> except by lowering the taxes on gasoline (which didn't happen this
>> summer, AFAIK).
>
> I'm not saying that there is a republican consipiracy.  However, I
> wouldn't assume that just because the feds don't own gas stations,
> refineries, tankers, oil rigs, or oil companies, doesn't mean they  
> can't
> manipulate the price somehow, such as by asking for a favor in  
> exchange
> for continuing favorable regulation.  And again, I'm sure that many a
> politicians, regardless of party, is capable of asking for such favors
> to keep himself or his friends in power.

The Oil companies don't set the prices either.  The price of refined  
petroleums are based on the price of the barrel of oil, which is  
traded on a futures market by speculators.  It has very little to do  
with how much it cost to pump any individual barrel of oil out of the  
ground, it has to do with how much those who trade in those sorts of  
things think it might cost at some point in the future.

In the end, this is all done to the benefit of the stock holders...  
who are.... US!  Just about any one that has a retirement fund of any  
kind (401(k)), etc, has their money in some sort of mutual fund or  
range of funds, some of which are most likely investing in one or more  
of those evil 'Big Oil' companies.

-- 
Michael Parson
mparson at bl.org