Utilities - Gas/oil companies reducing production - we reduced usage they raise prices

[2Design]

Utilities - Gas/oil companies reducing production - we reduced usage they raise prices so they get same amount of money. We get cars that get higher mileage. Electric companies do this too - See deregulation is great!

http://www.latimes.com/business/la-fi-refineries11-2010mar11,0,5317635.story

Some of the nation's biggest oil companies are looking at permanently reducing how much gasoline and diesel fuel they make, a move that analysts say would almost certainly trigger higher prices for drivers.

Energy companies are suffering huge losses from refining because of slumping gasoline use -- a product of the economic downturn and changing consumer habits and preferences. Energy experts say refining cutbacks have already begun and will accelerate as corporations strive for profits.

[louis-t]

1. So "drill baby drill" wouldn't lower prices either?

The Dickens, you say!

[Vinnie From Indy]

2. Simply another lawless industry

I have no doubt that our gasoline prices have been unfairly manipulated for many years.

[DJ13]

3. This is why some countries had to nationalize their energy industry

Its too bad we arent smart enough to at least threaten the bastards with nationalization to keep them in line.

[WVRICK13]

8. Socialist! LOL

You are so right, but imagine what the RW would do with that. Especially the ones stupid enough to constantly vote against their own best interests.

[WVRICK13]

4. I Hope President Obama Does Something

to stop the Great Recession Part 2. The oil producers were the prime catalyst for the mess of our economy and now that there is a small glimmer of hope they are going to profiteer it until we collapse again. They must be stopped through vigorous regulation.

[bigwillq]

6. They really need to do something FAST!

3.00, 3.50 gas prices by Memorial Day is what some news outlets have reported. We shall see if this turns out to be true. But that can't be good for the average person. Once again, average folks will be screwed. :mad:

[TwilightGardener]

5. That's how they getcha, the bastards.

[Mari333]

7. petroleum prices go up so do the prices of everything attached to their use

and the people are screwed once again.

[bridgit]

9. They've come to expect the lifestyles to which they have grown so accustomed...

All those shareholders, short sellers, hot spot trackers and E-Trade Babies. And if they believed in free markets, they'd be adjusting along with the rest of Americans instead of sucking the corpse dry but that is not in their nature