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The big lie: How the oil companies are ripping us off

Discussion in 'Sports and News' started by JayFarrar, Jul 16, 2008.

  1. Bob Cook

    Bob Cook Active Member

    Interesting piece by Raines, with the most salient point not being his specifics of why oil executives are greedy bastards, but the failure of much of the press to keep in mind this question of their sources -- what's their motivation?

    You can do this and still have a piece that is "balanced," and even more than the simple balance of "Some say Hitler is bad. But others defend him." It's not being inherently anti-oil company to ask why they don't drill in lands they already have access to, examine how low-to-nonexistent profit margins have dissuaded oil companies from the refining business (as an aside, there also isn't money in the isolated business of running a slaughterhouse, er, meat processing), and most intriguingly from Raines' piece, why oil executives believe in Peak Oil theory.

    I also associate the failure to ask these questions in day-to-day stories not just as a media "failure," but also because of the shock over how much gas prices have run up. At this point, no consumer cares why, only that something be done to address gas prices. Where I can see Raines' argument that media need to step up better -- and now -- is that out of panic usually comes the worst long-term solutions. As you know if you've been in an airport over the last seven years.

    Of course, people have griped about business media forever, so Raines is but one more griper.
     
  2. Football_Bat

    Football_Bat Well-Known Member

    Oil companies ripping us off? NAWWWWW!
     
  3. Inky_Wretch

    Inky_Wretch Well-Known Member

    OK, I wasn't sure who you were aiming for with that post.
     
  4. Lamar Mundane

    Lamar Mundane Member

    comparing newspaper/oil company net income/operating expenses is fine but how much has your paper's price increased in the past year, five years?

    How many special tax rebates/incentives have newspapers received while they've amassed record profits?

    Big oil has leases to drill on 68 million acres of American soil. They aren't, it's not in its interests to increase supply. Save the "it's too costly, hard to get oil" argument - at $130-plus per barrell it's plenty profitable to get that oil and they can build all the refineries they want in YOUR BACK YARD!
     
  5. Lester Bangs

    Lester Bangs Active Member

    Oh yeah ... there's also the fact that newspapers don't make the country run. Like it or not oil companies do have an obligation to at least be halfway responsible stewards of the public trust or they should be treated like anybody else who threatens the country's vitality.
     
  6. three_bags_full

    three_bags_full Well-Known Member

    Just wanted to make sure everyone knows that oil CEOs aren't the only greedy bastards out there. Take it or leave it, I really don't care, since you want to be a smart ass.
     
  7. Armchair_QB

    Armchair_QB Well-Known Member

    I agree with all of that but the refinery part. It's not the easy to get one built.
     
  8. BTExpress

    BTExpress Well-Known Member

    The day I can cancel my "subscription" to gasoline is the day that comparison may become relevant.
     
  9. old_tony

    old_tony Well-Known Member

    [blue]I keep waiting for oil company management to start giving away gasoline free on the Internet.[/blue]
     
  10. Boom_70

    Boom_70 Well-Known Member

    Raines does the same thing he accuses the rest of the media of doing. His story has very little meat and substance.

    Only passing reference to how Oil futures trading has impacted the market. If someone really wanted to do a solid investigative story they should look into the ownership of Oil storarge facilities by banks, brokerage firms and oil companies.
     
  11. old_tony

    old_tony Well-Known Member

    Anyone notice that oil has plummeted about $15 a barrel over the last three days?
     
  12. Dickens Cider

    Dickens Cider New Member

    Yes. And I dare you to hold your breath until the prices at the pump drop in a corresponding manner.
     
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