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Old 04-30-2008, 08:35 AM
 
Location: Tennessee/Michigan
28,210 posts, read 47,618,622 times
Reputation: 19723

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The price of gasoline has never been higher, with many Americans feeling the pinch on their wallets. But not those who own stock in oil companies.

ABC News: Should the Oil Industry Make a Profit?
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Old 04-30-2008, 09:25 AM
 
Location: Pinal County, Arizona
25,107 posts, read 35,205,885 times
Reputation: 4899
Without a doubt - they should

The alternative? Nationalize the oil industry.

Just like Chavez did -

Is that what we want?
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Old 04-30-2008, 09:32 AM
 
Location: Sacramento
13,784 posts, read 23,811,113 times
Reputation: 6195
Quote:
Originally Posted by Greatday View Post
Without a doubt - they should

The alternative? Nationalize the oil industry.

Just like Chavez did -

Is that what we want?
Absolutely not, and anyone can buy shares in energy companies.
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Old 04-30-2008, 11:38 AM
 
2,693 posts, read 3,107,484 times
Reputation: 984
So I can either buy gas to get to work, or buy stock in the oil industry and just let their profits make money for me.

What have I been thinking going to work and being productive and trying to earn a living????? I should just buy oil stock and make money off of other hardworking people who have to pay too much for gas.

Why contribute to society when I can become a parasite!!!
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Old 04-30-2008, 12:01 PM
 
Location: Pinal County, Arizona
25,107 posts, read 35,205,885 times
Reputation: 4899
Quote:
Originally Posted by odinloki1 View Post
So I can either buy gas to get to work, or buy stock in the oil industry and just let their profits make money for me.

What have I been thinking going to work and being productive and trying to earn a living????? I should just buy oil stock and make money off of other hardworking people who have to pay too much for gas.

Why contribute to society when I can become a parasite!!!
If you have any retirement type investment accounts, the chances are, you already ARE buying oil stocks - you are already invested in the oil companies
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Old 04-30-2008, 12:10 PM
 
2,693 posts, read 3,107,484 times
Reputation: 984
Quote:
Originally Posted by Greatday View Post
If you have any retirement type investment accounts, the chances are, you already ARE buying oil stocks - you are already invested in the oil companies
Nope, I don't have any retirement accounts, so I can complain and insult the oil companies all I want
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Old 04-30-2008, 12:12 PM
 
Location: Minnysoda
8,634 posts, read 8,532,839 times
Reputation: 5180
Quote:
Originally Posted by odinloki1 View Post
So I can either buy gas to get to work, or buy stock in the oil industry and just let their profits make money for me.

What have I been thinking going to work and being productive and trying to earn a living????? I should just buy oil stock and make money off of other hardworking people who have to pay too much for gas.

Why contribute to society when I can become a parasite!!!
If you have a retirement fund 401, 457 etc you probably own oil stack, I know my 457 plan has it. and I work every day
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Old 04-30-2008, 12:14 PM
 
Location: Minnysoda
8,634 posts, read 8,532,839 times
Reputation: 5180
Quote:
Originally Posted by odinloki1 View Post
Nope, I don't have any retirement accounts, so I can complain and insult the oil companies all I want
Maybe you need a better job to get on the bandwagon
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Old 04-30-2008, 12:17 PM
 
Location: Londonderry, NH
41,492 posts, read 51,385,768 times
Reputation: 24613
I think nationalization of all the energy industry is a good idea. The results would be a much more rational supply of energy to the country at much lower costs. Pay the current owners of the stock the market value of that stock with government bonds. IMHO the society, through the government, should own all the natural monopolies.

Please note that after paying the oil companies for their investment in Venezuela they are providing gasoline at less than 20 cents per gallon regardless of international oil prices. That is a result of a nationalized oil industry.
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Old 04-30-2008, 12:18 PM
 
Location: Southern New Jersey
1,723 posts, read 2,838,691 times
Reputation: 339
Quote:
Originally Posted by odinloki1 View Post
So I can either buy gas to get to work, or buy stock in the oil industry and just let their profits make money for me.

What have I been thinking going to work and being productive and trying to earn a living????? I should just buy oil stock and make money off of other hardworking people who have to pay too much for gas.

Why contribute to society when I can become a parasite!!!
Investing money in a corporation is so far from being parasitic, I think you're confusing investors with those who feed off the government's teet. The oil industry is not the government, gasoline companies are corporations and for those who are smart enough to invest in them...they should get some money back when record profits are made. Otherwise, it's like Venezuela...government control of corporations.
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