Originally Posted by calgaryhhr

I've seen a few of these oil threads in these forums now. I find one thing very amusing. I think it's incredible how so many Americans have such a huge problem with oil companies. Everyone seems to hate them. What I find ironic (and hence amusing) is that the United States is the largest user, and importer, of oil. Everyone loves to hate and complain about being screwed by oil companies but noone wants to cut back, or dare I say give up, their oil usage.

Oil is probably the most inelastic commodity on earth. With that come huge price shocks. Also, the majority of the worlds oil stocks are in the hands of a few large corporations. I see nothing wrong with what these corporations are doing. They have realized that they own such a commodity and that people are not will to be without it and hence they are "laughing all the way to the banks."

Complaining will do no good. Reducing usage will send a message to the large corporations. Until a reduction happens the guys are going to keep cashing in.

I work in the oil and gas industry as a geologist and there are so many factors that drive up the price. One of the most important factors right now is that it makes a lot more sense to leave the oil or gas in the ground and not produce it because you can get a higher price in a few weeks or months. A project I was working on found a new gas pool. A decision was made to leave the gas in place until the winter because gas prices with be able double what they are now. This isn't an unfair practice, it's cashing in at the right time.

Originally Posted by crowbar

well how can you cut back on something you have to have? its like saying breathe less air

btw i traded my avalanche because of gas milage and got the hhr