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Big Oil RIPS YOU OFF -- via Unfair Mathematics

2009-02-22 · John · watch on YouTube · Economics · comedy performance

In a mock exposé John argues that 'unfair' traditional rounding (five ninths up) lets oil companies overcharge a penny on 5% of US gasoline purchases, prefers Dutch rounding, and writes to Exxon for his eight cents.

What is said

00:00:00 — Greeting; claim of evidence that oil companies rip you off; gas still cheaper than Fierce Grape Gatorade

  • ★★★ John claims to present unassailable evidence that oil companies rip people off through the 'evil magic of demon mathematics'. (playful) — 00:00:00
  • ★★ John says for the record that oil companies ripping people off does not mean gas is too expensive. — 00:00:00
  • ★★ Even at the height of the 2008 oil bubble, a gallon of gasoline cost less than a gallon of Fierce Grape Gatorade, which John finds odd given the work of extracting and refining oil. (playful) — 00:00:00

00:00:29 — Rounding: Ms. Fink's rule rounds up five ninths of the time; Dutch rounding; oil companies' extra penny on 5% of purchases; Lincoln quote twisted

  • ★★★ Traditional rounding (one to four down, five to nine up) rounds down four ninths of the time and up five ninths of the time, John says. (playful) — 00:00:58
    • number check: four ninths — doubtful
    • number check: five ninths — doubtful
  • ★★ A fair system, Dutch rounding, rounds one to four down, six to nine up, and five up or down based on the surrounding numbers. — 00:00:58
  • ★★★ Oil companies use the rounding that gets them an extra penny one twentieth of the time: 5% of American gasoline purchases are charged an extra penny. (playful) — 00:01:27
    • number check: one twentieth of the time — doubtful
    • number check: 5% — doubtful
  • ★★ John says a weekly buyer's yearly loss is not two and a half pennies but, per the oil companies, three, and in total millions of dollars every year. (playful) — 00:01:27
    • number check: three pennies — doubtful
    • number check: millions of dollars — doubtful
  • ★★ John adapts the Lincoln line about fooling people: when it comes to math you can fool all the people all the time. (playful) — 00:01:27

00:01:56 — Why Mathematics Matters; Exxon owes John eight cents, letter sent; fake Wikipedia etymology of Dutch rounding

  • ★★ Though he has not owned a car for much of his adult life, John calculates Exxon owes him about eight pennies and has written asking for his eight cents back. (playful) — 00:01:56
  • ★★ John says he will let Hank know how the Exxon letter goes. (playful) — 00:01:56
  • ★ John calls the video this week's installment of 'Why Mathematics Matters'. (playful) — 00:01:56

Humor (dominant)

  • Oil must be mined, shipped, refined and trucked, yet gasoline is cheaper than Fierce Grape Gatorade. — 00:00:29 > «to produce fierce grape Gatorade, I believe all you have to do is milk purple alligators»
  • John quotes Lincoln: you can't fool all the people all the time. — 00:01:56 > «Unless it's a question of math, then you can, in fact, fool all the people all the time.»
  • John reads Wikipedia's supposed origin of the term Dutch rounding from the Dutch Golden Age's opulent feasts. — 00:02:25 > «feasts where many prominent Dutchmen grew round»

Threads in this video

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