Oil Companies

Dear Editor, Here we go again. The driving season is approaching and the oil companies are preparing us for the spring escalation of pump prices for gasoline. The echo in the room from the TV announcement about the drop in the stock market had barely subsided when the pump price for gasoline had jumped by 16 cents per gallon. The oil companies give their usual response in reply to the question as to why the price of gasoline goes up at the pump when the gasoline in the tanks is the same gasoline that a few minutes previously was selling for substantially less.

Dear Editor, Why must there be a scapegoat any time a price increases or is deemed too high for your tastes? The prices that prevail in the marketplace are not "set" by any one person or firm (sans government obstruction). Despite what many of you believe, evil corporations do not set prices to exploit us bitty little consumers. Are the people responsible for putting on the fair somehow greedier this year than they were last year? If you subscribe to the view that market transactions are exploitive, then for consistency's sake you must believe that you are exploiting sellers when prices are low. Somehow I don't think you believe that.

As a nation, we have come to expect perfection; hence, when things go wrong, we want to blame someone. Few people today are willing to accept that something bad can happen and no one is at fault. People sue medical doctors whenever a procedure does not end perfectly, even when the outcome was, in fact, beyond any doctor's control. High oil prices and high gasoline prices are hard on everyone, and they are particularly hard on low-income folks. The public holds the oil companies responsible for high oil and gasoline prices.

On June 6, the price of a barrel of oil increased more in one day than an entire barrel cost a decade ago. Today in central Kentucky, some families are choosing between buying groceries and getting to work in the morning. As gas prices soar to more than $4 a gallon, Kentuckians need relief. Gas prices are high for a number of reasons. Decades of failed policies and the increase in demand from new world powers such as India and China are catching up to Americans. The weakening dollar has helped make the price of a barrel of oil skyrocket, while price speculation by major investors further artificially drives up the price.

Dear Editor, A recent letter addressed the recent jump(s) in gasoline prices and how the big oil companies were evil, taking our money, had us over a barrel, etc. While the price of gasoline is dependent on the price of crude and the price has been jumping around a lot, the oil companies are not in the business of sticking it to us. We should be directing our attention on what is really sticking us - our government. Crude oil is taxed when it is pumped out of the ground in this country or imported from other countries.

Dear Editor, The current economic crisis has generated a virtual stampede to the money trough, commonly known as the U.S. Treasury, by every business that is suffering from a downturn in profits. Unfortunately, the trough is dry, but Congress doesn't know what that means. Many of these businesses are in a financial bind because of bad management, and their caving in to union demands that has driven their cost of doing business through the roof, resulting in their inability to compete.

Dear Editor, Talk about how to solve the high price of oil and gasoline covers the whole spectrum, from do nothing to nationalizing the oil companies. One of the most common statements made by some of the politicians and the news media is that we can't drill our way out of the dilemma. I strongly disagree. I believe we can and must drill our way out of it. It is the need for alternative sources for oil brought about by the lack of drilling for domestic oil that got us in the dilemma in the first place.

Dear Editor, The Democrats' response to drilling off shore or in ANWR is beginning to wear thin on the nerves of anyone who can rationalize about the energy situation. Their claim that the oil companies are already sitting on drilling leases covering millions of acres and should be drilling in those areas doesn't square with their rhetoric that labels the oil companies a bunch of greedy, profit driven vultures that will do anything to keep their stockholders happy. If the oil companies are as greedy as the Democrats portray them to be, and there is enough oil there to make it profitable, then why are they not drilling in those areas for which they currently hold leases?

Dear Editor, In case others misunderstood, I do not blame the fair for rising gas prices. I know the oil companies are to blame for increasing costs of everything. I'm simply stating that I prefer the old policy of charging a standard admission, with the option of buying a ride bracelet. I think this would be the more fair way for everyone to enjoy the fair. As far as how many agree with me this year, I'm not concerned about that. Everyone is entitled to his or her own opinion.

LEXINGTON (AP) — The president of an oil and gas company has been convicted of defrauding Kentucky investors and other states of $12 million. Michael D. Smith of Lancaster was convicted Saturday of conspiracy to commit mail fraud and on 11 counts of mail fraud by a federal jury. Smith is president of the Target Oil and Gas Co. and a principal of the Kentucky and Indiana Oil and Gas Co. The U.S. Attorney’s Office in Lexington says Smith and other co-defendants sent brochures to investors that included general geological information about an area but made it appear to be a specific assessment about a proposed well.

Dear Editor, For the past few months there has been a long-standing argument over drilling for oil and/or gas in our national forests. Why, I ask, should we do this if the end result is the same as the Alaskan pipeline venture? Some newspapers have reported that most of the gas and oil that flows through this pipeline is exported to foreign countries at U.S. taxpayer expense. We paid for the construction of this pipeline with the promise that it would ease our dependence on foreign supplies.

Dear Editor, The current economic crisis has generated a virtual stampede to the money trough, commonly known as the U.S. Treasury, by every business that is suffering from a downturn in profits. Unfortunately, the trough is dry, but Congress doesn't know what that means. Many of these businesses are in a financial bind because of bad management, and their caving in to union demands that has driven their cost of doing business through the roof, resulting in their inability to compete.

Dear Editor, I just wonder how many smart people are going to vote for Obama. He says he's going to give you better health care. He says he's going to help the middle class and give everybody a college education. I have a news flash. He can't give you squat. The president doesn't give or take anything unless Congress gives the OK. All the programs that he wants to give out are going to cost somebody a lot of money we don't have. His idea that he's going to tax the wealthy is crazy.

After traveling the Commonwealth and pumping gas for regular people in four-hour shifts, U.S. Senate Candidate Bruce Lunsford has introduced an eight-point plan to lower gas prices. By the way, when he was finished pumping gas one weekend, he hopped on his private jet and flew to his second home in Chicago. Does anyone know which Kentucky county that's in? Closer scrutiny of his plan reveals he's actually flipped his gas lid. First of all, Lunsford supports John McCain's crazy idea of a gas tax holiday.

Fed up with high local gas prices To the Sun: I am a Clark County resident who is fed up with high gas prices. I am furious that oil companies are posting record profits at our expense. However, my aggravation is more localized today. Clark County gas providers are consistently 10 to 15 cents higher per gallon than Montgomery and Fayette counties. Why? My husband and I have made a conscious choice to purchase our gas in the adjacent counties until the locals get in the game.

Dear Editor, The Democrats' response to drilling off shore or in ANWR is beginning to wear thin on the nerves of anyone who can rationalize about the energy situation. Their claim that the oil companies are already sitting on drilling leases covering millions of acres and should be drilling in those areas doesn't square with their rhetoric that labels the oil companies a bunch of greedy, profit driven vultures that will do anything to keep their stockholders happy. If the oil companies are as greedy as the Democrats portray them to be, and there is enough oil there to make it profitable, then why are they not drilling in those areas for which they currently hold leases?

The Democrats continue to make astonishing statements about the oil industry. The two most recently problematic are: "We cannot drill our way out of this problem," and "The oil companies have plenty of unexplored oil leases. " Note, these two statements are at odds with each other. If more drilling does not matter, why would undrilled leases held by the oil companies matter? The first statement makes a fine bumper sticker, but what does it mean? Do the Democrats mean drilling is not a silver bullet, a single policy option that solves all energy problems, or, do they mean more drilling will not influence oil prices?

On June 6, the price of a barrel of oil increased more in one day than an entire barrel cost a decade ago. Today in central Kentucky, some families are choosing between buying groceries and getting to work in the morning. As gas prices soar to more than $4 a gallon, Kentuckians need relief. Gas prices are high for a number of reasons. Decades of failed policies and the increase in demand from new world powers such as India and China are catching up to Americans. The weakening dollar has helped make the price of a barrel of oil skyrocket, while price speculation by major investors further artificially drives up the price.