What happened to the oil industry's record profits?

[Sub Atomic]

We used to hear about how they broke profit records quarter after quarter, and now....nothing.

Won't somebody care about the oil pigs?

[RB TexLa]

1. Their profits didn't change. They ran about 8 to 11%.

[mrcheerful]

2. Plus the prices remain at $2.30 to $2.90 a gallon in most area's so they are still reaping

record profits just not as much as they were a year ago. Funny how when gas hit $4.00 a gallon Hummers and SUV's were parked but once prices stabilized they are back out on the road. All that means is the oil companies drove the prices up so the people would believe $2.30 a gallon gas was a bargain.

[Subdivisions]

3. Please provide evidence for your assertion that oil

companies drove up prices.

[mrcheerful]

5. Guess you missed the little tid bit about crude oil storeage was full and running out of

places to put crude oil at the height of the gas crisis and oil refineries couldn't refine the crude oil at hand fast enough while gas prices were at $4.00+ a gallon. Who owns refineries now a days? Oil companies. Speculators were not acting alone on driving up the oil prices. Now to prove that just look at the oil companies memo's that came to light 2 years ago.

[Subdivisions]

6. I'm still waiting for you to show evidence of your original assertion. And now you've

only added to that burden. To wit, please provide evidence that crude oil storage was "full and running out of places to put crude oil". Also, please show how prices were influenced by speculators. Also, please provide links to the oil company memo's you mentioned.

Thank you.

[mrcheerful]

7. well if your not willing to search for the information thats been on DU before

while the gas prices were going sky high don't know what to tell you but I'm not playing the prove it game with you. I got tired of the cons saying prove it and stopped playing the prove it game with them and I'm not going to start playing the game here, believe what you want.

[Subdivisions]

8. You made the assertion. The burden of proving it falls on you. I've

been studying the situation with oil every single day for the past four years. I saw all the bullshit conspiracy theories that oil companies were behind the run up in oil prices. I saw all the misinformation, the disinformation, and the flat-out bullshit coming from DU and elsewhere. I explained time and again, at the time, what was going on and no one cared to listen. Meanwhile, no one here has EVER shown that oil companies were responsible for running up the price in some sort of conspiracy to reap huge profits.

So, if you cannot prove an assertion that you have made, don't make it to start with.

[RB TexLa]

4. Counting for inflation it is a bargin.