Exxon caught red handed raping the public!!!!!!

[john3976]

Here is some information on price fixing by companies, I don't remember memory for computers being real high in price during this time, in fact the companies got together because they were all losing money due to the low cost of memory yet they paid some big fines and people went to jail, it is time for the same thing to happen to big oil.



When was the last time you seen price with any real deference between different brand stations? Price fixing at its finest people.



Read on:



SAN FRANCISCO, March 22 — Three executives of Samsung, the largest supplier of computer memory for consumer electronics, have agreed to plead guilty and serve prison sentences in the United States for their roles in a price-fixing conspiracy, federal prosecutors said on Wednesday.



The plea agreements are the latest development in the Justice Department's three-and-a-half-year investigation of the volatile market for dynamic random access memory chips, the most common type of computer memory products, used in personal computers, printers and electronic devices like cellphones and digital cameras.



Samsung of South Korea, along with its rivals — Infineon Technologies of Germany, Elpida of Japan and Hynix Semiconductor of South Korea — were accused of conspiring to fix DRAM prices from April 1999 to June 2002.



The Samsung executives are the third group of individuals to agree to prison terms; their sentences are similar to those of four Hynix executives announced this month.



Sun Woo Lee, Samsung's senior manager of DRAM Sales, agreed to serve eight months; Yeongho Kang, associate director, DRAM marketing in Samsung's United States subsidiary, will serve seven months; and Young Woo Lee, sales director for Samsung's subsidiary in Germany, agreed to serve seven months. Like the Hynix executives, each executive agreed to pay a $250,000 fine.



In November 2005, Samsung agreed to a $300 million fine related to the investigation. With the latest settlement, 4 companies and 12 individuals have been charged, with fines totaling more than $731 million.

 

[john3976]

More on price fixing:



Sony, 2 others sued over alleged price-fixing in U. S.

Japan Consumer Electronics Scan, September, 2002



NEW YORK, Sept. 24 Kyodo



Intertainer, an on-demand broadband services provider, said Tuesday it has filed an antitrust lawsuit against three companies, including Sony Corp. of Japan, for allegedly conspiring to fix prices in entertainment content distribution.

 

[john3976]

More price fixing, this time involving Canon:



In April of 1996, Pace entered into a nonexclusive dealer

agreement with defendant Canon Computer Systems, Inc.

("Canon"), a California corporation. Under this agreement,

Pace obtained the right to purchase Canon-brand ink-jet

printers and related accessories from Canon at "dealer

prices. " In consideration for the right to purchase these

products at "dealer prices," Pace agreed to purchase certain

minimum quantities of the products.



The dealer agreement between Pace and Canon remained

in effect for approximately one year and three months.

Thereafter, on July 1, 1997, Canon terminated the

agreement with Pace on the stated ground that Pace failed

to purchase the minimum quantities of Canon-brand

products required of it under the dealer agreement.

Although Pace concedes that it did not purchase the

amount of Canon-brand products called for under the

dealer agreement, Pace contends that it was unable to do

so because Canon ignored its purchase orders. Pace further

contends that Canon ignored its purchase orders because

Pace refused to acquiesce in a vertical minimum price fixing

agreement designed and implemented by Canon and

defendant Laguna Corporation ("Laguna"), Pace's direct

competitor in the New Jersey and New York region.

 

[john3976]

The point to this is, all of these companies never made as high of profit as the Big Oil companies have yet every one turns their heads to the price fixing going on in the oil industry.



BP, Shell, Exxon, Chevron are all seperate companies yet their prices are all within penny's of each other and all are making profits at levels never seen by any business before.



This my friends is price fixing at its finest.

 

[elandon1201]

The point to this is, all of these companies never made as high of profit as the Big Oil companies have yet every one turns their heads to the price fixing going on in the oil industry.



BP, Shell, Exxon, Chevron are all seperate companies yet their prices are all within penny's of each other and all are making profits at levels never seen by any business before.



This my friends is price fixing at its finest.

And I dont believe that is legal yet no one persues this

 

[john3976]

And I dont believe that is legal yet no one persues this

That is because the elected folks in Washington are in Big Oils back pocket, both Republicans and Democrats.

 

[elandon1201]

That is because the elected folks in Washington are in Big Oils back pocket, both Republicans and Democrats.

I completely agree with you. Hopefully we will get some satisfaction in the next couple years if we voice our opinions when we vote.

 

[DonTX]

For those who don't have daily contact with that kind of bucks, lets say this guy frittered away all his millions in wages, but just took his 400 million retirement and made a safe secure investment in a passbook savings account. Without ever touching the principal, he would be making $14,166,666 a month now, or $47,222. 22 a day!

Free enterprise is one thing, but I think somewhere there has to be some sort of limiting factor to all this, don't you?.

 

[arthr31]

Hey, look on the bright side. The US Government gets a huge chunk of that figure in taxes! Do they deserve it?

no they don't. they get special interest and lobbiest money, not taxes. they may pay heavier taxes in their geo area, but that's probably the extent of it. you and me, that's who's paying a lot of the taxes...

 

[EEdmondson]

That is because the elected folks in Washington are in Big Oils back pocket, both Republicans and Democrats.

I was just about to make the same point. Our V. P. , Dick Cheney, made $8. 8 million in 2005 and in a new IRS rule was able to give $6. 8M to charity to save taxes.



Someone mentioned that the government will get a big chunk of that $400M retirement settlement... Don't bet on it. These guys get the laws written to shelter their income from taxes.



WE HAVE THE BEST GOVERNMENT THAT BIG BUSINESS CAN BUY!!!



Until business can't buy politicians, we won't have government of the people, by the people and for the people. We need more people like john3976 to make a fuss and not just sit back and take it.

 

[frankram]

At the rate fuel prices are increasing they will catch up with bottled water and Starbucks Coffee in no time. Prices on fuel will not go down until we cut back on usage.

 

[E7mack96]

What kills me is that this insane price gouging is killing small business (mine) which is the backbone of America.



I know some of you drive big rigs. The cost of fuel per mile is approaching $1. 00. (our heavy haul rigs get about 3-4 mpgs depending on load)



Yet freight is offered at less than $1. 00 all day long and some people actually hook to it. I am talking about heavy haul loads that should pay a minimum of $2-2. 50 per mile.



I refuse the cheap stuff, but someone else will haul it for less.



You can't shop oil prices. We are screwed there. BP, exxon, ect... all within a few pennies. Either you pay, or you don't go anywhere. Natural gas and electric will follow suit... . I voted against the Duke/Cinergy. The bigger they get, the bigger their balls get.



Anyways, I will get off my soapbox,



E7

 

[john3976]

I feel for the small businesses of America, they are ones with out much voice yet they also are what makes this country.



To bad the larger over the road companies put such a strain on the little ones, the bigger ones are just attaching a surcharge to the loads to cover the cost of fuel, the little guy does not have that kind of bargaining power.



I still wonder how costs all of the oil companies the same amount of money to bring product to market, Canon makes a digital SLR camera and Nikon makes a Digital SLR camera, yet they are about 3 to 4 hundred dollars in price difference, both cameras compete for the same buyer.



Something has to be done with Big Oil and these obscene profits that never find there way down to lower prices for the consumer.

 

[EEdmondson]

I have my own theory with nothing to back it up: The price of diesel is kept artificially high to prevent people from buying diesel cars. Diesel cars use less fuel so the oil companies don't want them. In the '70s people started buying diesels to get around the high prices and shortages of gasoline. 50 mpg from diesel Rabbits. The oil companies learned a lesson. Now, nobody wants a diesel because the price of diesel fuel is higher than super unleaded. Europe is full of quiet clean diesel cars.

 

[Dirtscience]

I still drive a diesel rabbit as my commuter. Its not the safest rig I own and I believe safety is very important. I also ride a motorcycle. Almost everyone I work with have large Four wheel drive rigs they drive back and forth to work. They almost all laugh at me until they find out what kind of mileage it gets. It used to break 50 but now its in the range of high 40's. All you can do is cut your consumption if possible (I know it isn't for some). When I gotta haul a load I drive my dodge, I am also guilty of just driving it because I want to. But for the most part my rabbit transports my person just as good as my dodge but not as safe. Would I let my wife drive it? NO! Just for safety reasons. Here where the decision is tough, Is the money I save in fuel worth the injury or death I may sustain from and accident? I doubt it, but I am such a tight wad I drive it anyway. I'm such a hippocrite. LOL

Sorry my post doesn't really fit this discussion but someone mentioned diesel rabbit and I had to post.

M

 

[JUeckert]

What kills me is that this insane price gouging is killing small business (mine) which is the backbone of America.



I know some of you drive big rigs. The cost of fuel per mile is approaching $1. 00. (our heavy haul rigs get about 3-4 mpgs depending on load)



Yet freight is offered at less than $1. 00 all day long and some people actually hook to it. I am talking about heavy haul loads that should pay a minimum of $2-2. 50 per mile.



I refuse the cheap stuff, but someone else will haul it for less.



You can't shop oil prices. We are screwed there. BP, exxon, ect... all within a few pennies. Either you pay, or you don't go anywhere. Natural gas and electric will follow suit... . I voted against the Duke/Cinergy. The bigger they get, the bigger their balls get.



Anyways, I will get off my soapbox, i'am with you on this one brother. i own a small construction buisness,burn some gas,and lots of diesel compared to many on this site. if most my equippment wasnt paid for,i would likely have folded. my buisness as well as my competitors buisness has both dropped drasticly in the past year. i read some where that the end of last year over 500 small trucking outfits went under solely due to fuel prices. thats really sad to see happen to a buisness owner,especially one that does not deserve it. i know of a least 3 buisness localy that have folded from slower work and higher fuel bills. this is not good when the oil prices climb to such drastic prices in such a short period of time. when buisneses fail people loose jobs,bills go unpaid ,bank notes dont get paid,and sooner or later in one form or fashion the economy will feel it. americas greed for fuel/oil does need to be tamed,but so does greed behind big oil. folks we need to ban together and say enough is enough,any ideas? i will leave on one final note,for about 8 years now i have been recieving royalty checks from gas and oil well's . for those 8 years the prices have varied depending on long term fuel prices,however the sharp rise in fuel prices in the last year have not been reflected on my royalty checks,as much as it has at the fuel pumps.

 

[JJoiner]

Just adding my $. 02. I work in the oilfield industry, work side by side with Exxonmobil on a daily basis, and also was raised by Exxonmobil. They were the food on my table. I am like many of you, I don't believe that anyone person is worth that kind of money ( especially one that seats behind a desk and more than likely has no idea about the day to day ops). I personally don't have a problem with awarding a bonus that size but split it among the people who made it happen. Secondly, if Exxonmobil or Flint Hills Resources, Valero, BP Amoco or any other oil refining company could build a new processing facility in the country, they would. Its the government and the tree huggers that have this country so regulated that it would cost to much and take too long to build. There is not another country on this earth that have half the regulations set forth as in the U. S. , that is why it is so much more cost effective for these oil companies to explore, produce and refine else where. So yes I have to say it, it is our own fault and thats why we pay so much for fuel. You know, I've heard a lot of people sit and whine over "why are we so dependant on over seas oil". You know why, its because we can by it cheaper the we can produce it here due to the regulations and thats sad. But thats the way of running a profitable business. Just one more thing, Exxon's profit for last year was largely due to over seas exploration which costs less, not mainly because of them ripping joe blow off the the local filling station.







A little food for thought;

if you owned a cheese manufacturing fac. and the price of milk went up, would you still sell you cheese at the same cost?



Its called supply and demand and yes it stinks but its a fact of life and its also a fact that someone somewhere will always be making a huge profit if you run your business right.

 

[Sled Dog]

Let's do Exxonmobil a favor, and stop buying there fuel!!

Thats all they really understand.



Don't give me that supply and demand Crap. .

Theres no shortage (supply) and demand is down. Thats why the crude price is down.

 

[zmpm1]

High fuel Prices just wait!

Guess what boys you just thought fuel is high wait a few months / years till OPEC decides to stick to America then you will know what the high cost of fuel is I was a native in the state of California and witnessed the BIG OIL pull out of the state because they could make more money over seas and guess what the oil production has dropped in the state of CA. and has never stopped dropping do you think being dependent on foreign oil is the way to keep oil prices down? or are you one of those persons that doesn't want it in my back yard and then guess what you get high prices that the U. S. can not control and you want to &itch and moen as far as I am concerned you reap what you sow and I hope the state of California pays out the @ss and my oil stock goes thru the roof. Sorry but when you are in the real know of what are keeping the prices high you have a hard time listening to all this.

 

[JoshPeters]

OK guys... . no one touched one of my comments... .



So I'll ask again... . Why is it that 3 stations in my area were shut down because their fuel prices were to low? The State shut them down.



I'm by no means applauding the big oil companies. But I am saying, that in the System our country provides, they are doing very well.



We complain about gas prices..... How about you go ask the Europeans how they like their gas prices?!



$4. 00 a LETRE! Could it be the "profits" the Oil companies are seeing are comming from over seas?



Think about this in a GLOBAL way, not just your county, or state. These companies, while some are based here in the US, are world wide companies.



Josh