How Much Of This Economic Crash Can Be Blamed On The Oil Companies?.......

[global1]

over the last 8 years they've made record profits at the expense of all of us. Don't tell me that their greed hasn't helped contribute to the problems the auto companies are now facing. People couldn't afford to buy gas, pay house payments, buy food or buy a new car. Why buy a gas guzzler that the Big Three are turning out if you can't afford the gas to make it run.

So big oil has to be brought into this mix and shoulder some of the blame. Everything has gone up because of big oil greed - down to the petroleum based products and food. All pricing has gone up.

Now the Big Three missed their opportunity back when we had our first real oil crisis during the Carter Administration. If they would have got the message then - they would have begun to put out cars that provided real energy savings. Instead - oil got cheap again and they marketed the hell out of the big car; lobbied against CAFE standards and got us in this situation we are in today.

Europe has dealt with this situation a lot longer then we in the U.S. Most cities have extensive public transportation systems. Most cars are small and energy efficient.

We need to do the same here.

Merry Friggin Christmas!!

[DJ13]

1. 40%

The other 60% on the greed of Wall Street.

(Of course, it was their greed that speculated the oil prices to $140 also....)

[Frustratedlady]

2. They should take that profit and bail out the auto industry.

If there aren't any cars, they aren't selling gas.

[leftofthedial]

3. about half

the other half is the banks

the other half is the repukes (which includes the first two halves)

LOL

[sandnsea]

4. And tax credits to buy diesel guzzlers

I also remember Gore being ridiculed for his comments about the combustion engine and the right guffawing about the Prius. Now they attack the car industry for not building the cars that they ridiculed them for ten years ago. And the media doesn't call them on it.

[Turbineguy]

5. None.

OK, almost none.

Unless you blame Saddam Hussein for the 9/11 attack. In that case, smoke 'em!

If the oil companies are the cause, why were oil prices so low in the 1990's? The repubs would love for us to pin the blame on oil companies. That would take Bush and friends off the hook. This crash was made possible by overturning sensible regulations that came out of the Great Depression. It was carried out by people in the financial sector.

Next to the French Wine Industry (with business plans that span centuries), the petroleum industry is the most forward looking. They have nothing to gain from an economic crash. No, I do not work for an oil company but I do study them.

[whirlygigspin]

6. don't tell anyone I said this, and if you do I'll deny it...

but this guy gets it, sorta

http://wlym.com/~leesburg/larpac/2008/081118_lpac_webcast_en_lo.wma

[dkofos]

7. Most of it.