>Isn't it time our goverment officials stand up and do something about the
>rediculous gas prices?
>

>ExxonMobil posted earnings last quarter that were the greatest earnings ever
>posted by any company anywhere. Is seems unlikely that Big Oil could be posting
>record earnings if the there truly was a shortage of gas.
>
>If the refineries in the south were so badly damaged, as we've been told, that
>gas production capacity were diminished to the point where it would take billions
>to repair, then how can they be posting such enourmous profits? Greed is the answer.
>
>A study taken 2 years ago showed that all the oil companies have to do is raise
>the price of gas 1 cent at the pump and they make hundreds of millions. Consider the
>hike in gas prices over the last year and it's no wonder the posted upsurd earnings.
>
>First of all, OPEC has far too much control over us in this area. Why should the
>United States be subject to arab oil prices? If the President called up OPEC and
>said 'We are no longer buying your oil until the prices come down', they would
>drop the prices in a flash, as we are one of the their biggest customers. And we have
>enough oil in the strategic reserve to do it (for a while).
>

As others have said (and will say), this is not a game of chicken which we want to play. Even though the US is the world's largest importer of oil, there are plenty of other markets to take up the slack. We could use the stragegic reserve (for a while) but the real question is "how long a while?" I don't have an answer, but my guess is that we would drain our resources in a few months. I think the arab countries will be rubbing their hands with glee at the prospect of what will happen at the end of that period.

Another possibility is having the non-Arab oil producers can take up the slack? Their oil isn't any cheaper than Arab oil so what's the point? Even so, while I again don't know the answers, but my guesses are that

1. They can't ramp up production to a sufficient level

2. Prices will go UP because they will have us (ahem) over a barrel.


>Second, it's time the goverment regulate the gas prices. This situation is approaching
>monopoly standards, as we the consumers have no say in it or any control over the
>prices.
>

We the consumers have no say or control over the prices of anything (other than by our ability to choose not to buy).


>Hey W, wanna score points across the nation, keep your tax refunds and do something
>about the ubsurd gas prices.