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And the governamnt is getting more from gas prices than the oil companies and do nothing plus taking no risk.
I wish there was a high-five emoticon.
If you trace back $100 spent on gas....it is stunning how much winds up in the governments pockets.
-Gas tax at the pump
-Import fees, mineral rights
-processing fees, shipping costs, docking costs
-port taxes
-taxes on the companies profits
-taxes on the workers wages
People scream that Exxon gets to keep maybe $5-6 out of the $100 you spend while the government is pocketing $40+
Not to mention, the profit is actually a small percentage (I think it's up to about 8 or 9%; can't just look at the raw numbers. A $1billion profit on a $100billion investment is pretty lousy.), and out of that small percentage, the government takes about half of it in taxes.
exxon will gladly share and put some of their money in your pocket. Simply buy 100+ shares of XOM stock and sit back. If ya can't beat 'em, join 'em. Invest in winning companies and the profits will be shared with you. That's how it works. Don't complain about prices, buy stock and get on the receiving end.
As often as I rant and rave about monopoly profits I cannot fault Exxon for the current high profit levels. They are doing well because they are using oil bought before the run up in price. Raw crude oil prices are reflecting what it will cost to find and drill for the next barrel of oil. Exxon et al are just in the right spot at the right time. The only problem with this is if Exxon invest its profits in Starbucks (bad bet) instead of looking for more oil.
This guy is getting beat up enough, as he should be...but to add to it - did you give Exxon a donation when they were losing billions a year in the early 90's?
Exxon mobil has a pretty low profit margin if you asked me. It is only like 10%. Compared to google's 25% it is nothing.
Yeah, I pointed this out to a friend of mine ranting about exxon. They have a lower profit margin than the company he works at....as well as several others based in our city. The bad\good news is that my friends employer is doing terrible now and losing lots of money so they didn't get raises or bonuses this year....so I guess their profit margins have tanked. Surprisingly he's not happy.
P.S. What a wonderful chain of rational comments! It is wonderful to see some people with some education discuss things rationally instead of some person with no grasp of finance or economics grinding a political axe. Rep points for all of you.
P.S. What a wonderful chain of rational comments! It is wonderful to see some people with some education discuss things rationally instead of some person with no grasp of finance or economics grinding a political axe. Rep points for all of you.
Yeah these specialized forums, for the most part the posters understand business and how it works. I can't stand the politics forum because you see these nonsense posts. It's like the history forum, people there know their history - you post nonsense there and you WILL get b*tch slapped down.
Yeah these specialized forums, for the most part the posters understand business and how it works. I can't stand the politics forum because you see these nonsense posts. It's like the history forum, people there know their history - you post nonsense there and you WILL get b*tch slapped down.
I second that. The politics folder never ceases to amaze me. It really makes me question the wisdom of allowing the majority of the population to vote.
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