John Stossel on Gas Gouging

[ArtieBoy]

Last night John Stossel did his "Gimme a Break!" segment on the price of gas. If you've been following his reportage for the past few years you know the summary of his report was that everything is just fine! The only thing wrong is everyone's silly whining!

I used to enjoy Stossel's stuff when he started with 20/20. Could someone enlighten me as to when this guy went into the pocket of the Republicans/corporations?

[Rick Myers]

1. John Stossel tell the truth? Gimme a break!!! He's a tool!

[PCIntern]

4. "Tool" is not the four-letter word which comes to mind

when discussing Stossel.

and a few 5 letter words and some eights and even 12's!!!

:hi:

[rfranklin]

2. Because there is just mo' money to be made on the dark side....

As Russert said, "Integirty is for paupers!"

[meow2u3]

3. In other words, price gouging is OK with him

because he's so rich he doesn't feel the pain from the exorbitant gas prices you or I feel. Stossel's out of touch with reality.

[Harper_is_Bush]

5. The guy has been a rightwing flake for quite a long time. google him and global warming. n/t

[Faux pas]

6. He lost me back when he tried to tell us that outsourcing is good

for the country. I haven't watched 20/20 since then.

[Deja Q]

19. It is good for the country, dammit!

India LOVED it when Bush got re-elected in 2004. They are our 51st state, you know.

Amongst other articles (zdnet had the best one), this article

:shrug:

[Faux pas]

24. Well thank heaven they haven't figured out how to outsource

my pension! Interesting article, I missed it back then. Oh sure, it's good for the country, just not OUR country. LOL didn't realize India was our 51st state, that sucks, for sure.

[Deja Q]

30. Well, if the economy is staged for a crash, that's how they'll offshore it.

Other GD posts have people scrambling like Chicken Little pondering taking their money out...

India isn't our 51st State, but I find it amusing they've been close allies with Iran for centuries. Yet we've been working with them. Color me confused, but President Bush said people are with us or against us. When he mentioned Iran, surely any of Iran's allies would be in the same boat?

[Faux pas]

42. I hope they can's steal the pension I'm already getting, The

whole state of calif pension plan would have to be taken for that to happen....Boy, that would be a blow.

Thanks for the wiki link too. It is mighty peculiar that we outsource our jobs to India and want to bomb Iran off the face of the earth. Weren't we all buddy-buddy with Iran during the raygun years? I'm confused too. I've almost scratched my head bald trying to keep up with all the chaos and bull.

[gravity]

7. Because there is no price gouging

Everyone is assuming that the oil companies are gouging prices, when there is no evidence to support this.

[The Velveteen Ocelot]

9. How do you know there isn't?

I don't know either. The problem is that nobody seems to want to investigate -- and I trust neither the oil companies nor John Stossel.

[gravity]

21. The FTC has investigated this

FTC Testifies on Market Forces, Competitive Dynamics, and Gasoline Prices

Initiatives to Protect Competitive U.S. Gasoline Markets Detailed

Testifying today on behalf of the Federal Trade Commission before the U.S. House of Representatives Subcommittee on Oversight and Investigations of the Committee on Energy and Commerce, Commissioner William E. Kovacic detailed the FTC’s varied initiatives to protect competitive markets in the production, distribution, and sale of gasoline and other petroleum products.

“The petroleum industry plays a crucial role in our economy. Indeed, few issues are more important to American consumers and businesses than the decisions being made about current and future energy production and use,” Kovacic said in opening the FTC’s testimony. “Not only do changes in gasoline prices affect consumers directly, but the price and availability of gasoline also influence many other economic sectors. No other industry’s performance is more deeply felt, and no other industry is so carefully scrutinized by the FTC.”

The testimony presents FTC’s work related to the petroleum industry in two parts. First, it reviews the basic tools used by the Commission to promote competition in the petroleum industry – challenging potentially anticompetitive mergers, investigating potential nonmerger antitrust violations and prosecuting actions where appropriate, and monitoring industry behavior to detect possible anticompetitive conduct. Second, it details the Commission’s additional efforts to examine and analyze issues important to consumers in the petroleum industry – including conferences, studies, and reports.

Acknowledging that gas prices have been moving higher lately, the testimony states, “The Commission places a premium on careful research, industry monitoring, and investigations to understand current petroleum industry developments and to identify obstacles to competition” that may lead to higher prices for consumers, whether they arise from private behavior or public policies. “A well-informed understanding of these factors is essential, if FTC actions are to benefit consumers.”

Next, the testimony examines why gas prices have risen so quickly in recent months, stating that, “ . . . The lion’s share of the recent increase in gasoline prices appears to be attributable to three factors: refinery outages, increased demand for gasoline, and decreased gasoline imports.” Increases in crude oil prices have played a relatively minor role in the increase, according to the testimony.

More: http://www.ftc.gov/opa/2007/05/gaspricetestimony.shtm

[LSK]

25. does he explain WHY we have refinery outages and outright closures

And a complete lack of investment in them?

[The Velveteen Ocelot]

26. And in whose pocket is the FTC these days?

[gravity]

29. The FTC has prevented oil company mergers recently

because it would reduce competition. They don't do everything in the interest of big oil.

[tammywammy]

11. Yep

if oil companies were really gouging wouldn't their profit margins be higher than 10%?

[libodem]

8. Sometime in the 90's

He was doing a 'there is no overpopulation' piece. His take was since they can take the entire population of the world and stand them shoulder to shoulder in the state of Texas and still have a little room that there just weren't too many people. I thought there is a guy who thinks white Christians have the right to keep having 6 or 7 kids, either for the Mormon President or the Pope.

[EVDebs]

10. ABC Wm. Casey, CapCities, Disney

He serves his master. Even Peter Jennings knew that in the end ABC was the CIA's Network when you get right down to it.

The CIA, Drugs, and Wall Street
http://www.fromthewilderness.com/free/economy/dontblink.html

(read The Pop segment)

Stoessel wants us all to continue to believe Bush is serving OUR interests, the US public's and taxpayers. What a fraud.

BTW, I think Gerald Posner and Stoessel must be related, the resemblance is too much ! Maybe twins separated at birth...

[dave123williams]

12. You should see him fellate the tobacco industry...

If power had a dick, this lame would be the king of BJ's.

[earth mom]

13. That tool was just serving his corporate masters!

:puke:

[BrklynLiberal]

14. Stossle hasn ot told the truth in years. Al Franken used to chew him up and spit him out.

It was almost pathetic to witness.
What is amazing is that he is still around spouting this crapola.

[bamacrat]

15. Its fucking insane for people to act like gas prices are not too high..

When oil companies are making record profits and we are paying record prices, something is going wrong.

[depakid]

16. Stossel is a serial liar who's been busted for using fraudulent data

ABC should have their broadcast licenses yanked for giving him airtime to spread misinformation and propaganda.

Perhaps one day- when the assault on reason subsides and the consolidated corporate media is divested and re-regulated, they will...

[pa28]

17. He broadcast a completely fabricated report on organic foods.

Yet he's still working like nothing happened. It's interesting how journalistic standards are applied differently to Conservatives.

[Ian David]

18. John Stossel is a giant douche

And not a new one fresh out of the package, either.

See:

Thursday, September 08, 2005

An Open Letter to John Stossel

Dr. Mr. Stossel,

I am writing in regard to your column on Sept. 7, 2005, in which you explain the following:

"Consider this scenario: You are thirsty -- worried that your baby is going to become dehydrated. You find a store that's open, and the storeowner thinks it's immoral to take advantage of your distress, so he won't charge you a dime more than he charged last week. But you can't buy water from him. It's sold out.

You continue on your quest, and finally find that dreaded monster, the price gouger. He offers a bottle of water that cost $1 last week at an "outrageous" price -- say $20. You pay it to survive the disaster.

You resent the price gouger. But if he hadn't demanded $20, he'd have been out of water. It was the price gouger's "exploitation" that saved your child.

It saved her because people look out for their own interests. Before you got to the water seller, other people did. At $1 a bottle, they stocked up. At $20 a bottle, they bought more cautiously. By charging $20, the price gouger makes sure his water goes to those who really need it.

More:
http://patriotboy.blogspot.com/2005_09_04_patriotboy_archive.html



And after John Stossel whined that the Homestead Act was a huge scam, he personally benefited from it.


See Also:

Don't Worry -- It's On You!

<snip>

John Stossel famously exposed the compassion scam in a chapter of his book, Give Me A Break, in which he details how he built a beach house "with only a hundred feet of sand between him and the ocean" -- no insurer would touch the place, but the government (er, you and me, again) blithely picked up the cleanup and compensation tabs when his multi-million dollar house in the Hamptons was first flooded, then completely swept away in successive storms.

More:
http://www.homocon.com/archives/2005/06/slip_sliding_aw.html

[Eugene]

20. Stossel has been doing his right wing shtick for over 20 years.

His 20/20 pieces bashing liberal ideas like environmentalism,
and "political correctness," while saying corporations are good
goes back to the 1980's.

[LSK]

22. did he mention the reduced refinery capacity in this country

And the decided neglect oil companies have done to refineries in this country?

Did he mention that we reduced our consumption of gas in the country that the prices would come down (because of less demand on refineries)?

I bet not.

[CatWoman]

27. correct, LSK

I watched that segment and came away completely disgusted.

Check the segment out for yourself: http://abcnews.go.com/2020/story?id=3234692&page=1

According to Stossel, the public is crazy for questioning these outrageous prices, the politicians questioning this are crazy, and the oil companies only fault is not going on the record to defend themselves.

He even compares the high prices of gas with the increase of the price of broccoli.

make sure to check out some of the viewer comments as well: http://abcnews.go.com/2020/comments?type=story&id=3234692

[Kingshakabobo]

23. Every time I hear his name I think of this video......

:rofl::rofl::rofl:



http://www.youtube.com/watch?v=C35wyVQxXUA

[mitchum]

28. He's a long time Libertarian jackass who masturbates to "Atlas Shrugged"

[anitar1]

31. He has been a liar forever. I quit watching 20/20 years ago. I refuse to watch

someone like Stossel and don't care if I miss the rest of the show. He is a hateful tool of the right.

[CatWoman]

37. correction: a "swarmy" liar

:rofl:

http://www.youtube.com/watch?v=ywDuCEIeHnM&NR=1

[Toots]

32. One company Exxon is making net profit one hundred million a day and gas keeps going up

Yep no gouging here....Everything is fine..

[gravity]

35. Their net profit margin is only 10% though

That means if the price of gas is $3.00, then the most Exxon could possibly gouge would be 30 cents.

You still have to explain the other 90% of the price of gas.

[tammywammy]

36. sometimes

logic doesn't fit in when you just want to blame the oil companies.

[CatWoman]

38. sometimes blame doesn't fit in

when logic stares you in the face.

[tammywammy]

39. I just don't see it

The oil companies have less than a 10% profit margin, where's the gouging? It's the quantity of gas being purchased as well as the higher per barrel costs.

[CatWoman]

40. yeah, right

http://journals.democraticunderground.com/underpants/31

those poor, poor oil companies. :nopity:

maybe if they quit this shit, they'd double their profit margin, eh?

and of course, pass the savings onto us? :sarcasm:

[Toots]

44. You don't see the s on the end of your words, this is just one stinkin company

Add all the rest up and that ten p[ercent will increse in quite a hurry. Get a brain.. this was meant for tammy not you cat

[CatWoman]

41. wow, John Stossel

you pop up in the weirdest places!!

[Toots]

43. That is only ONE company

If they have a ten percent net profit and the others do as well it doesn't take very damn many and pretty soon sixty or seventy percent is excessive.

[TZ]

45. I tend to wonder about specific and regional pricing

Not trying to be snarky, but I legitimately want to know something on pricing. Gas stations say that local prices of gas don't come down immediately when the price of oil comes down because of the amount of gas they have pre paid for in their tanks needs to be sold at the price they bought it for. However the moment something bad happens in the world (a natural disaster, an approaching hurricane, a terrorist attack) all the prices immediately skyrocket? Don't they still have the "cheaper" stuff still on hand? The creeping upward I can kind of understand but it seems that often the prices are quick to rise and very slow or gradual to fall and thats one of the reasons that people wonder about gouging.

[chaska]

33. It's like a friend says: Libertarians are just Republicans who really, REALLY like their pot.

Stossel is a Libertarian of course.

[StudentsMustUniteNow]

34. "Neolibertarian" nutcase, like Boortz

It's sad that kids of my generation buy into this stupidity.