CNN Complaining

[RougeUnderoos]

To lighten the load, George has delayed deposits into the strategic reserve to the tune of 30 thousand barrels a day (approximately 0% of usage, according to my calculations) to shore up supplies for public consumption.

Also...

Additionally, Bush said he would ask the EPA to temporarily ease clean air regulations that have caused gas shortages in some portions of the Northeast. There have been media reports of shortages as producers switch over to cleaner-burning summer gasoline blends.
"I think it makes sense that they should be allowed to, so I'm directing EPA administrator [Steve] Johnson to use all of his available authority to grant waivers that would relieve critical fuel supply shortages," Bush said. "And I do that for the sake of our consumers."


Only when it comes to oil is that last part acceptable If it was the price of food getting too high and they publicly declared that they were going to re-label dog food for humans and said "this is for the good of the consumer", someone would probably put up their hand.

[albertGQ]

Originally Posted by RougeUnderoos

The thing that makes me scratch my head about gas-price griping is that nobody applies the same logic to other products. If something becomes too expensive for me, I stop buying it, or I buy less of it, or I stretch what I do buy out a little more. For a lot of people though this rather straightforward approach is unfathomable when it comes to gasoline.

Like is it not possible to use less gas? I find it hard to believe that anyone out there absolutely needs every drop of gas they can get and they can't afford to go with one drop less.

Coming from an Econ major, the short answer is that different products have different price elasticity

[Antithesis]

I don't understand the complaining about the price of gasoline; then again, I drive a Chev Cavalier with a 50L tank that needs gas twice a week. Would be interested (no hidden meaning or insult at all) to know what percentage of people who are complaining drive a Truck or SUV or other large-tanked auto.

[Flamer89]

It just bugs me that American's complain about there gas price and it isn't bad. It is always how it affects america. People in america are too dumb to realize that most of the world pays more than they do. I guess I am just getting sick of CNN and how they are complaining about there situation when in reality it isn't that bad for them.

[CaramonLS]

Originally Posted by albertGQ

Coming from an Econ major, the short answer is that different products have different price elasticity

Price goes up, Demand stays pretty much the same.

Oil companies know this.

[Vulcan]

Originally Posted by Antithesis

I don't understand the complaining about the price of gasoline; then again, I drive a Chev Cavalier with a 50L tank that needs gas twice a week. Would be interested (no hidden meaning or insult at all) to know what percentage of people who are complaining drive a Truck or SUV or other large-tanked auto.

You can also blame the SUV drivers for contributing to our shortage and thus driving up the price.

If it turns out like the early 80's all the big gas guzzling boats couldn't be given away. A similar fate could await the big SUV's.

[Displaced Flames fan]

Originally Posted by fotze

Gas prices aren't nearly high enough. For what you get, it is cheap considering the effort made in making it.

People are such f'in hypocrites. Their entire lifestyles are centered around needing lots of fuel, living far away from work in massive houses that need lots of energy to maintain. They demand market prices only as long as it prices are down.

Maybe the oil companies should start adding a fee or warantee charge to their gasoline so the consumer can be guaranteed it will not seize their engine. People seem to accept paying for stupid **** more readily.

Although the companies entice the stones from the public when they give rich fat white guys half a billion dollars to retire. That stuff doesn't help at all.

You may be the most self righteous person I have ever had the occasion to associate with. You make sweeping judgements about people you don't know because they make life choices that are different from your own.

I live 10 miles away from work. You know what, I don't want my kids growing up in the ****ty ass neighborhoods in between. Additionally, I don't want them going to big city schools, so I moved to a neighborhood in a small town school district. There is absolutely nothing wrong with those choices. In fact, it is my responsibility as a parent to make sure that I make choices that affect my kids in a positive manner.

My decisions aren't made based on some fantasy altruism and I won't apologize for it.

[Displaced Flames fan]

Originally Posted by Flamer89

It just bugs me that American's complain about there gas price and it isn't bad. It is always how it affects america. People in america are too dumb to realize that most of the world pays more than they do. I guess I am just getting sick of CNN and how they are complaining about there situation when in reality it isn't that bad for them.

It's bad for everyone.

We (everyone in the world, this includes Americans) have a right to complain because the price increase in oil over the last 2 years is largely based on speculation and not on economic factors.

But what do I know, I'm just a dumb American.

[Antithesis]

Actually, I'd like to correct my earlier post: I fill my car up every second week. Are people REALLY driving so much that it affects their finances enough to complain so much about this?

[Displaced Flames fan]

Originally Posted by Antithesis

Actually, I'd like to correct my earlier post: I fill my car up every second week. Are people REALLY driving so much that it affects their finances enough to complain so much about this?

I'm about the same.

My wife, however, works full time and attends school full time. Her classes are 30 miles away and she goes 4 times a week. So we spend a lot there. Sorry Fotze.

[Clarkey]

Originally Posted by Displaced Flames fan

You may be the most self righteous person I have ever had the occasion to associate with. You make sweeping judgements about people you don't know because they make life choices that are different from your own.

I live 10 miles away from work. You know what, I don't want my kids growing up in the ****ty ass neighborhoods in between. Additionally, I don't want them going to big city schools, so I moved to a neighborhood in a small town school district. There is absolutely nothing wrong with those choices. In fact, it is my responsibility as a parent to make sure that I make choices that affect my kids in a positive manner.

My decisions aren't made based on some fantasy altruism and I won't apologize for it.

Huh? I don't think he cares if people live in the burbs, he's just saying don't whine and moan about gas prices if you chose to live in a place that requires commuting.

And why does everyone complain about oil companies making so-called excessive profits? What, are they supposed to be charities? If you see a company making 'excessive' profits why not buy stock in it and get some of it for yourself. People forget that corporations are owned by shareholders, regular joe's.

[Vulcan]

Well Clarkey, every regular Joe don't have enough spare change hanging around to invest in oil companies.

I believe in putting controls on companies that practise taking unconscionalble profits and price gouging from a monopolistic industry.

[vanisleflamesfan]

Originally Posted by Flamer89

Anyways, I was annoyed with them today and was wondering if anyone else felt this way about CNN too?

No... I don't give a rats @$$ about CNN, but I do have a problem with Albertans complaining about the price of gas when most of them are getting rich off the price of it and gas out here is 1.25 per litre.

[Flamer89]

Originally Posted by vanisleflamesfan

No... I don't give a rats @$$ about CNN, but I do have a problem with Albertans complaining about the price of gas when most of them are getting rich off the price of it and gas out here is 1.25 per litre.

I'm not complaining about the price of gas but I am sick of americans complaining about the price on TV (CNN). CNN usally has a biased view and I was wondering if anyone else felt this way. They should realize they are one of the lucky countries compared to Canada and most European countries as most of the price of gas is from tax.

[Eagle Eye]

While we are bitching about the profits that Oil and Gas companies make, why don't we question the huge profits that the freaking banks make?

[albertGQ]

Originally Posted by Eagle Eye

While we are bitching about the profits that Oil and Gas companies make, why don't we question the huge profits that the freaking banks make?

I'll second that! I think they should give their employees a raise!

[ken0042]

Originally Posted by Eagle Eye

While we are bitching about the profits that Oil and Gas companies make, why don't we question the huge profits that the freaking banks make?

The difference is this- let's say Shell goes belly up tomorrow. What will happen to most people? Maybe a 1 block further drive to buy gas.

A bank goes belly up; how much fun will it be for you to get your money out from them?

Yes, odds are neither is going to happen. But I feel comfortable with my savings account knowing full well that at no point am I going to go pull out my couple of thousand dollars and find the doors locked and a sherrif's note on the door.

Weren't there a number of banks that went bankrupt in the 80's in the States?

[Mr. Ski]

Originally Posted by ken0042

Weren't there a number of banks that went bankrupt in the 80's in the States?

Yes. The Savings and Loan crisis was really bad for a while.

Link: http://en.wikipedia.org/wiki/Savings_and_Loan_scandal

There were a few near bank bankruptcies in Canada too around the same time, which usually ended in mergers/acquisitions. My parents used to bank with the Bank of British Columbia. They went down in flames in 1986. They didn't loose their savings or anything, but it still wasn't much fun trying to get everything out. In the end all of BofBC's assets were acquired by Hong Kong Bank of Canada, now HSBC.

Link: http://en.wikipedia.org/wiki/Bank_of_British_Columbia

[Hakan]

The Federal Government insures up to $15,000(?) in your savings account under the Canada Bank Act.

[Mr. Ski]

To quote http://www.cdic.ca/?id=100

The Canada Deposit Insurance Corporation (CDIC) is a federal Crown Corporation. It was created in 1967 to provide deposit insurance and contribute to the stability of Canada's financial system. CDIC insures eligible deposits at member institutions (up to $100,000 per depositor) and reimburses depositors for the amount of their insured deposits when a member institution fails.

To be eligible for insurance, deposits must be in Canadian currency and payable in Canada. Term deposits must be repayable no later than five years from the date of deposit.

As a consumer, you do not have to apply for deposit insurance. Subject to coverage limits, eligible deposits held with a CDIC member institution are automatically insured.

To date, CDIC has provided protection to depositors in 43 member institution failures. As at April 30, 2004, CDIC insured some $376 billion in deposits.