Would the Oil Companies Deliberately Destroy Recovery?

[Stuart G]

As the oil companies dramatically raise prices, it becomes more difficult to restore confidence to the economy.
Would they do so just to destroy Obama, and get a more friendly face in the White House? I think the right, as well as the oil companies, would do anything to keep Obama from achieving success as President. That includes totally destroying this country.

[w4rma]

1. Yes. The folks who own those corporations are capable of anything. (nt)

[ashling]

2. Uh, is this a rhetorical question?

In a heartbeat.

[notadmblnd]

3. only if the administration allows it

As long as the current admin continues to be in the pocket of the corporations, nothing will change.

[rustydog]

4. I think you are off a little bit in your assertion. It may be possible

Big Oil, which has continued to post mind-boggling profits while other companies and people face financial ruin, isn't determined to ensure Obama's Presidency fails.

It isn't Obama's failure they seek, it is their continued obscene profits, period.
I think there are different economies in America and yours and mine are vastly different than Big Oil's, or Dick Cheny's (halliburton) or Neil Bush (no child left behind).
so when Bush kept insisting he economy was fine up to hours of the official collapse, he was referring to HIS economy, Big Oil's Economy, His brother's no child left behind economy...they are doing gang buster business!

The rich will stay rich, some mega corporations will continue to make money even if GM, Ford, and Chrysler face ruin, and the real economy dies.

Big Oil isn't out to foil Obama's presidency, they are out to make a buck.

[Davis_X_Machina]

5. No. Companies exist to make money.

You shear the sheep, you do not kill it.

It's a simple mini-max problem. At what price is oil high enough to maximize profits without killing off demand?

Recently it's been low, due to the economic slowdown, triggered in part by the $140/bbl oil of last summer.

That's clearly too high. Killed off demand.

But at $30/bbl, you clearly aren't getting all you could get.

The ideal price is in the middle somewhere, and they're looking for it.

[Autumn]

6. Hell yes they

certainly would.

[anigbrowl]

7. No, they don't gain economically by doing so

One might note that the oil companies don't control the supply in Saudi Arabia or the tendency of people to drive more during the summer. Expectations taht the gas price should remain steady when it has been seasonal for many, many years are unrealistic. People are more aware of gas price fluctuations because the market for fuel is large and very efficient compared to other commodities.

Gas prices will fall again after labor day, but nobody on DU will make any posts suggesting that this means the oil companies are trying to aid the economy.

[leftofthedial]

8. of course.

any corporation, or other capitalist with sufficient monetary incentive would.

[onethatcares]

9. no, the deal is

the same people that make all the oil money are holding hands with the bankers and if they kill this so called recovery, they would end up having no one to stock the shelves, fix their cars, cut their lawns etc.

The U.S. of A. is nothing more than a great big feifdom with a lot of false advertizing being shot at the populace. The powers that really count don't give a shit about who the president is, that's part of the circus for the pee ons to enjoy.

[spin]

11. The really scary part is that I've suspected this for years...

at first I just joked about it. Now I can see some truth in the theory.

Perhaps that's why the educational system in our country is failing to educate the middle and lower class kids who attend public school. Serfs don't need a lot of education, just enough to slave away serving the rich. But a happy serf is a better slave, so there's plenty of mindless entertainment to occupy his brain.

I find the majority of people in this country to be uniformed and uninterested in current events. Many I talk to merely say, "What's the use. Nothing we can do makes any difference in the end." Sadly, they may have a point. But apathy is the enemy of meaningful change. When the voters are uninvolved and uninformed they often continue to elect the same corporate lackeys to office over and over.

True, many people are involved in attempting to create change. And many of those are diverted by wedge issues such as abortion or gun control. These issues are of minor importance to the controlling elite.

Our elected leadership in Washington is good at making noise but inept at making change. The two parties bicker, insult and fight instead of working together to find workable compromise to the problems in our society.

However, I have hope in Obama. The test will be if he can make meaningful changes in our heath care system. Other countries have far better health care for the lower and middle classes, but we seem to have created a system that works well for the privileged who have good health care policies but neglects the lower middle class and the poor. The corporations that run the system for their profit benefit by refusing expensive treatment to many in need. If the big corporations get their way, we may end up with a slightly better system but one that will be very expensive. Those who benefit from our current system will still make obscene profits.

I don't subscribe to the theory that the Big Boys always get their way. If that were true, I believe that Hillary would have beat Obama in the primaries and would now be the President. But to get meaningful change, we as a people have to become involved and convince those we elect that it's time for less bullshit. If they merely blow hot air and strut around like pompous penguins, they will be replaced with people who will make a difference.

Of course, that assumes that the integrity of our election process is not corrupted and controlled. While vote tampering at a local level has always been a problem, we have to be careful that when we make changes in our voting system, we don't make it easier to change the results.

I still have confidence that we can work within our system to make this a better society. The rich and powerful will always attempt to manipulate us to insure that they remain rich and powerful. In the 19th century we had robber barons who used unfair business practices to increase their wealth and oppressed those who worked for them. It took years and a lot of effort to effect change. Hopefully, we can once again work together to make this a fairer and more equitable country.

Our system allows us the opportunity to make change. It does take citizen involvement. That may be the biggest problem.

[madrchsod]

10. it`s speculation....

it`s the only game in town to make money.

wait till the commodity speculators will be running up the price in a month or so. then we`ll see the economy crash and burn.

[Stuart G]

12. The economy has already crashed, We are trying to pick up the pieces.

My question is would a conspiracy exist, within the heads of Big Oil, to destroy any rebuilding process?

Perhaps it is not total collusion, but guilt by action. In the process of trying to maximize profits, and find that middle point where they get the most money, but do not hurt demand, the companies would by definition, destroy recovery. One thing is for sure, these companies would never deliberately lower profits , to encourage recovery. (mind you, I am not saying that they would go without profits, just lower them to help..)

[tabbycat31]

13. yes

they're greedy bastards that need to be stopped

[Joanne98]

14. It's not the oil companies, it's the banks and the hedgefunds.

They are speculating the price up. And they're doing it with commodities also so expect food rise too.