We Don't Talk About Big Oil Much Anymore | Eastern NC Now

    Big Oil seems to have lost its control of pricing at present but it will be back. Right now we can afford to drive to Grandma's house but, when the time is right, we will see a headline about a donkey breaking a leg in a Middle East oil field (interruption is the flow of oil) and we will be tweeting Grandma that she is not doing to be seeing us for awhile.

    Actually this July 2008 Blog Posting is not so much about Big Oil as it is about Big Noodle.

    While the original Blog Posting is 9 years old, it is still funny because funny then is funny now...

    Don't forget about Big Noodle
    I keep hearing that Big Oil is charging "All the Market Will Bear" during this latest, but not last, run up in gasoline prices. This started me thinking and here is what I think...

    What does "All the Market Will Bear" mean? When was the last time you saw a merchant that was selling his product for less than what the market would bear? It seems to me that everything is priced to maximize profit to the seller based on what people are willing to pay molded by competitive pressures that are present in the marketplace.

    Having pecked out the prior paragraph, I must say that it also seems to me that there is something else going on with regard to fuel pricing. I, however, don't want to go there because that might become a serious discussion. I'm not into Serious. I'm going to stick with Foolishness.

    I took this analogy a little further and started examining the pricing practices of the people that bring us Ramen Noodles. Last time I looked, Ramen Noodles were priced at about 10 cents per package (probably less at Sam's Club or Costco). Have you ever thought about what is in a meal of Ramen Noodles?

    For your 10 cents, you get a brick of dried noodles and a small packet of flavoring. That's all there is. There is not much of anything there.

    For this, you are compelled to pay 10 cents. Sounds like highway robbery to me.

    Since Congress is not doing anything about the price of gas at the pump, they ought to look into this compelling issue before Big Noodle has its way with us and it is too late.

    Would I kid u?
    SmartFella?

    Lagniappe: In the last paragraph above I said, "Since Congress is not doing anything about the price of gas at the pump", I could just as easily have said, "Since Congress is not doing anything about anything". Actually, they are, at present, on Vacation contemplating whether they should call the next vacation a "Recess" or a "Home Work Period".