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For those of you who complain about the oil companies' record profits, take a moment to read this thread.
First of all, an oil company is a "for profit" business, just like any other type of enterprise. It's really no different than your supermarket or big box chains. I certainly agree that they are not entitled to any government money or special tax breaks ... but the executives have a right to run their businesses and make profits just like any other company.
If that still doesn't convince you ... and if the fuel prices are still a concern, I suggest three things. First, if you drive a large vehicle for non business purposes (e.g. pickup truck, SUV, Hummer, or car with a V8 engine), get rid of it and buy a more economical car. You'll notice the savings instantly! Second, move closer to your job to avoid long commute times. Again, you'll find that the amount spent on gas will be substantially reduced. Third (and most important), buy shares of Exxon/Mobil and/or mutual funds that invest in oil companies. You'll be reaping some of the profits. If you can't beat 'em, join 'em!
There's a difference between making a profit and raping your hostage customers. And you know it.
I don't begrudge a reasonable profit. However, we're a captive consumer. Oil and its by products are vital to everday life. As such, there is a responsibility to make an effort to keep prices, and profits, reasonable for the benefit of both consumers & stock holders. It's the obcene profits that we have a right to be concerned about.
There's a difference between making a profit and raping your hostage customers. And you know it.
I don't begrudge a reasonable profit. However, we're a captive consumer. Oil and its by products are vital to everday life. As such, there is a responsibility to make an effort to keep prices, and profits, reasonable for the benefit of both consumers & stock holders. It's the obcene profits that we have a right to be concerned about.
Oil is a high risk, high reward business. What would happen to capitalism if we started limiting profits on all high risk/high reward ventures - nobody would take the risk - we certainly wouldn't make any advancements in alternative energy.
Exxon paid $30 billion dollars in US taxes last year. With 2/3 of their profits coming from overseas. That sounds like a pretty good deal for the American tax payer.
When are they going to haul Wal*Mart execs in front of the pompous and indignant congressmen?
Hopefully right after they pin a medal on them for empowering their people... which directly led to them making the most positive impact in areas impacted by hurricane Katrina.
In Wal-Mart we trust (http://www.nationalpost.com/news/world/story.html?id=405747 - broken link)
There's a difference between making a profit and raping your hostage customers. And you know it.
I don't begrudge a reasonable profit. However, we're a captive consumer. Oil and its by products are vital to everday life. As such, there is a responsibility to make an effort to keep prices, and profits, reasonable for the benefit of both consumers & stock holders. It's the obcene profits that we have a right to be concerned about.
But what about the average Joe or Josephine who invests in oil companies? Do you consider those profits obscene? Basically, it's the large pool of investors who are making the money, and benefitting from the oil companies' good fortunes. It's called profit sharing ... and that's what makes capitalism great. In other words, it isn't just the top dogs in the companies who are gaining from this!
Another thing: it seems awfully funny that those who bellyache the most about fuel prices are the ones who drive the big trucks & SUVs, and/or the ones who live way out in the distant suburbs & have long commute times. They can change their lifestyles if they want to reduce the burden. Frankly, I think American consumers have had it way too easy as far as gas prices. During most of the '80s & '90s, prices remained very low compared to the rest of the world. Anybody see how much fuel prices are in Europe?
If we would allow drilling in the ANWR, and build more refineries, I think that could help not only in reducing prices, but also reduce our dependence on foreign oil. But that can be a completely different topic.
Oil is a high risk, high reward business. What would happen to capitalism if we started limiting profits on all high risk/high reward ventures - nobody would take the risk - we certainly wouldn't make any advancements in alternative energy.
Exxon paid $30 billion dollars in US taxes last year. With 2/3 of their profits coming from overseas. That sounds like a pretty good deal for the American tax payer.
By the way, Exxon paid $150 billion in federal income taxes over the last ten years. Let's create a world where Exxon breaks even. In that world, the price of gas would have been 60 cents per gallon lower than it was for the year. So gas would be $2.80 and not $3.40. Who would make up for the lost revenue to our treasury of $30 billion paid in income taxes? Other capitalistic greed mongers? Let's ask for a congressional hearing on Disney. They made a third more profit return on sales than Exxon. Where is the outrage?
it seems awfully funny that those who bellyache the most about fuel prices are the ones who drive the big trucks & SUVs, and/or the ones who live way out in the distant suburbs & have long commute times.
That's actually a very good point. Life is often a series of tradeoffs. If you want to trade proximity for land (as is the case with a lot of suburbs), then you have to pay to convey yourself across that distance. If you can't pay that fee without hardship, you are living beyond your means, and should consider relocating.
This is about the value of the dollar and the cost to get to work, feed the family and pay the bills. Noboby really cares about profits of companies. Except for the eco nuts who want all the profits to go to something for the planet. If our dollar was worth someone and the value of GOLD like it's suppose to be a barrel of oil would be $30 dollars not 100. Making the price of gas dirt cheap and we wouldn't hear anything about it. Also I'm not sure why Gas prices are controlled by OPEC which is mostly Arab countries. We only get 12% of our oil from these countries yet they set the prices. Seems to me the is probably a better way, but why change your profits for the customer who is stuck buying Gas.
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