I believe that we are paying to much at the pump for gas, I believe we are being gouged. I found this on line and I am posting it from the public sources that I found on the web the content is from this sites, therefore they are sole responsible what they posted on the web, this is my opinion because i see no reason for the higher prices at the gas pump other then possible violation of the laws which states via third party sources which read as fallows: " In the United States, laws against price gouging have been held constitutional[3] as a valid exercise of the police power to preserve order during an emergency, and may be combined with anti-hoarding measures.
Price gouging is a pejorative term referring to a situation in which a seller prices goods or commodities much higher than is considered reasonable or fair!
Look at what occurred in 2005!!!
I don't believe we are that stupid!? That we just goint to take it!? The Oil Companies know that they can get away with gouging the public, as indicated in this article I found in 2005 please read:
“ PRESIDENT BUSH yesterday told ABC-TV, 'there ought to be zero tolerance of people breaking the law during an emergency such as this, whether it be looting or price-gouging at the gasoline pump or taking advantage of charitable giving or insurance fraud."
Zero tolerance is meaningless when the White House lets the biggest looters of Hurricane Katrina walk off with billions of dollars…In the midst of this charity, big oil looted the nation. The pumps instantly shot past $3 a gallon, with $4 a gallon well in sight… next to their wealth. Of the world's seven most profitable corporations, four are ExxonMobil, Royal Dutch Shell, BP, and Chevron. ExxonMobil is the world's most profitable company, making $25.3 billion last year. It and the other three corporations had combined profits last year of $72.8 billion. ExxonMobil is also the world's most valuable company, with a market value, according to Forbes magazine, of $405 billion. The combined market value of ExxonMobil, BP, Royal Dutch Shell, and Chevron is nearly $1 trillion.
And that was last year. A month ago, ExxonMobil, Chevron, and ConocoPhillips announced record second-quarter profits of $7.6 billion, $3.7 billion, and $3.1 billion, respectively. Royal Dutch Shell's quarterly profits of $5.2 billion were up by 34 percent over the same period last year. Other well-known companies like Sunoco also had record second-quarter earnings.
If ExxonMobil were to maintain its current pace of profits, it would cross the $30 billion barrier for 2005. The company's chief financial officer, Henry Hubble, bragged in classic corporatese, 'Our disciplined project management and operating practices deliver the benefits of strong industry conditions to our shareholders."
Those disciplined operating practices are hardly confined to the oil fields. Everyone knows that Bush does not really mean what he says about price-gouging at the pump, since he just gave energy companies the bulk of $14.5 billion in tax breaks in the new energy bill. Surprise, surprise.in Bush's two elections, oil and gas companies gave Republicans 79 percent of their $61.5 million in campaign contributions, according to the Center for Responsive Politics.
If Bush really meant what he said, he would call for a freeze or cap on gasoline prices, especially in the regions affected most dramatically by Katrina. He would challenge big oil to come up with a much more meaningful contribution to relief efforts.
Insurance companies are expecting up to $25 billion in claims from Katrina. For ExxonMobil, which is headed to $30 billion in profits, to jack up prices at the pump and then only throw $2 million at relief efforts is unconscionable.
Stay fixated, if you wish, on the thieves and desperate families who are so much easier to catch on camera than comptrollers electronically stealing your cash. It is not pleasant to see anyone loot a store. But ExxonMobil and big oil are looting the nation and no one declaring martial law on them”!!
By this admission then it's the Big Oil help the Republican Party win elections in there best interests! We are getting gouged for no other reason then excessive profits for all Oil Companies and the Republican Party benefits whom according to the article also benefit from it! Why are we letting this happen??? Call your congressman ask them to help the public!!!
These are two the laws that are being violated by the Big Oil!
This quote is from the US Supreme Court” 396-r, reads in The “price gouging” statute, General Business Law (GBL) § pertinent part as follows:
* * Price Gouging * 396-r. “ §
During any abnormal disruption of the market for consumer goods and 2. Services vital and necessary for the health, safety and welfare of consumers, resulting from stress of weather, convulsion of nature, failure or shortage of electric power or other source of energy, strike, civil disorder, war, national or local emergency, or other cause, no merchant shall sell or offer to sell any such consumer goods or services for an amount which represents an unconscionably For the purposes of this section, the term consumer goods and excessive price. Services shall mean those used, bought or rendered primarily for personal, family or household purposes; provided, however, that with respect to home heating oil the term merchant shall include any supplier, wholesaler, distributor or retail seller of home heating oil, and the term consumer goods and services shall include home heating oil sold by one merchant to another when Consumer goods the product sold was located in the state prior to the sale. And services shall also include any repairs made by a merchant on an emergency basis as a result of such abnormal disruption of the market.
Whether a price is unconscionably excessive is a question of law for the 3. Evidence that (a) the amount charged represents a gross disparity court. Between the price of the goods or services which were the subject of the transaction and their value measured by the price at which such consumer goods or services were sold or offered for sale by the merchant in the usual course of business immediately prior to the onset of the abnormal disruption of the market or (b) the amount charged grossly exceeded the price at which the same or similar goods or services were readily obtainable by other consumers in the trade area, and, in addition, that (c) the amount charged by the merchant was not attributable to additional costs imposed by its suppliers, shall constitute prima facie proof of a violation of this section in any proceeding commenced by the attorney general pursuant to subdivision four hereof”…to an unconscionably excessive price, thus violating this statute”.
BILL NUMBER: S4597 TITLE OF BILL: An act to amend the general business law, in relation to price gouging PURPOSE OR GENERAL IDEA OF BILL: The purpose of this bill is to grant citizens who are victims ofillegal price gouging in times of emergency the right to directly suethe responsible party. SUMMARY OF SPECIFIC PROVISIONS: The bill inserts a new subdivision into the existing price gougingstatute (General Business Law Section 396-r) granting a private rightof action to citizens who fall victim to price gouging in times ofemergency. The bill would provide for the possibility of injunctiverelief, a minimum $1,000 damage claim and a maximum $5,000 penalty forwillful violations.
Examples I found on the web on how much they are making! Look the rest of them up for your self!!!
Type
Public (NYSE: CVX Euronext: CHTEX)
Dow Jones Industrial Average Component
Industry: Oil and gasoline Mining
Founded: 1879 as Standard Oil of California
Headquarters: San Ramon, California, U.S.
Area served: Worldwide
Key people: John S. Watson
(Chairman and CEO)
Products:
Oil
Petroleum
Natural gas
Petrochemical
Fuel
Lubricant
List of marketing brands
Revenue: US$204.928 billion [1]
Operating income: US$32.055 billion [1]
Net income: US$19.136 billion [1]
Total assets: US$184.769 billion [1]
Total equity: US$105.811 billion [1]
Employees: 62,000 [1]
Type
Public (NYSE: XOM)
Dow Jones Industrial Average Component
S&P 500 Component
Industry: Oil and gas
Founded: 1999 (merger)
1911 (Standard Oil of New Jersey)
1911 (Standard Oil of New York)
1870 (Standard Oil)
Founder (s): John D. Rockefeller
(Standard Oil)
Headquarters: Irving, Texas, U.S.
Area served: Worldwide
Key people: Rex W. Tillerson
(Chairman, President, & CEO)
Products:
Fuels
Lubricants
Petrochemicals
Revenue: US$383.221 billion [1]
Operating income: US$52.959 billion [2]
Net income: US$31.398 billion [2]
Total assets: US$302.510 billion [2]
Total equity: US$152.679 billion [2]
Employees: 83,600 [1]
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