Exxon makes 104 million a day while gas prices go up. (middle east, boycott)

[Beatles4evr]

Originally Posted by hotair2

Their profit is staggering especially considering they only pay 13% in taxes.


Exxon Makes $104 Million In Profit Per Day So Far In 2012, While Americans Are Stuck With A Higher Gas Bill | ThinkProgress

Your envy is showing.

[hotair2]

Originally Posted by Beatles4evr

Your envy is showing.

Envy implies that I am unhappy that they have it and I don't. Not the case. IIt is simply an injustice that needs to be rectified. Oil companies have a monopoly. Monopolies stifle competition. Your anti-capitalism is showing.

[SourD]

Originally Posted by hotair2

Envy implies that I am unhappy that they have it and I don't. Not the case. IIt is simply an injustice that needs to be rectified. Oil companies have a monopoly. Monopolies stifle competition. Your anti-capitalism is showing.

Do you even know what a monopoly is? How can it be a monopoly when there is Exxon/Mobile, BP, Shell and others competing?

[Beatles4evr]

Originally Posted by hotair2

Envy implies that I am unhappy that they have it and I don't. Not the case. IIt is simply an injustice that needs to be rectified. Oil companies have a monopoly. Monopolies stifle competition. Your anti-capitalism is showing.

Take your blindfold off.

[Mathguy]

Originally Posted by Beatles4evr

Your envy is showing.

No, it's their inability to do division.

[Mathguy]

Originally Posted by SourD

Do you even know what a monopoly is? How can it be a monopoly when there is Exxon/Mobile, BP, Shell and others competing?

Give up. THis is the same poster claiming Romney was getting 200million in donations from oil companies until someone showed it as about 200x less than that.

Innumeracy used to be a shameful thing. Now some people wear it like a badge of honor.

[hoffdano]

Originally Posted by odinloki1

Exxon doesn't set prices. However this is another example of the market enabling theft from the lower and middle classes to redistribute the wealth to the rich.

Keep in mind Exxon is only one company, what if their profits were 10 percent of what they are now, and all that money could be used to cut the gas taxes? What about if we could cut the speculators out? Theres a ton of waste right there in the market that consumers are paying the price for. Thats also money thats not being spent on other things that could be helping the economy.

Here's another thought....104 million a day, how many jobs could that create. The wealthy corporations are supposed to be the "job creators" right? With 104 million a day thats 2,000 jobs paying $50,000 per year per day!!! That could be 700,000 jobs in a year and thats ONLY ONE COMPANY. If we aren't taxing them, why aren't we hearing about the jobs they're creating??????

So you think Exxon should not make a profit at all. Any cash flow above expenses should be spent employing people? Not doing Exxon's business? Doing what?

You talk about inefficiency. Taxing Exxon, giving it to the Feds, letting Congress split up the money, to do what? Dole it out to the states as grants? The is no less efficient way to spend money than to allow the government to collect it and spend it.

Exxon's profit margin is 8%. Perfectly reasonable.

[d4g4m]

While prices at the pump have dropped .25 a gal in the last couple of weeks, city/county/state/federal taxes collected remain the same. Government makes more money from a gallon of gas than the oil companies and governments do nothing to get it out of the ground to your gas tank.

[Mircea]

Originally Posted by hotair2

Envy implies that I am unhappy that they have it and I don't. Not the case. IIt is simply an injustice that needs to be rectified. Oil companies have a monopoly. Monopolies stifle competition. Your anti-capitalism is showing.

Oh?

Um, so what exactly was the UNOCAL Conglomerate?

Oh, that was just UNOCAL and Amoco and Chevron and British Petroleum banding together to do what?

Bring more natural gas to the world market.

And why did they have to band together?

Because none of them individually had enough profits/Capital to do it alone.

I'm still waiting for you to explain where oil companies will get the money to bid on an exploration contract.

And then you can explain where they will get the money to for the royalty rights.

And then you can explain where they will get the money for the development rights.

And then you can explain where they will get the money for development, once they bid on the contract and get the right to develop.

Since you cannot explain it, I will. That money comes from profits.

You scream at oil companies that you want lower gasoline prices, and then when oil companies use their profits to acquire exploration rights, royalty rights, development rights and development capital to get more oil to lower the price fo gasoline you scream "Foul!"

And then you whine and cry about how processed foods taste so horrible, oil companies take profits and to research and development to find new chemicals to use for artificial colorings and artificial flavorings, and then you get made because they're making profits.

What do you think companies do with profits? They use it as a pool to attract additional investors and bring more money to the table so that the companies can reinvest their profits in their employees, and equipment and facilities, and develop, test and market new products, acquire a larger sales base etc etc etc.

By the way, Norwegian Statoil is a monopoly and it does just fine. Of course if Statoil wants to out-bid Chevron on an exploration contract, or a royalty contract or a development rights contract or development, then it just gets the freaking Government of Norway to pony up the money.

What does Chevron get?

One of the reasons US oil companies are dwindling, due mostly to mergers (like Chevron acquiring UNOCAL and British Petroleum acquiring Amoco) has to do with

1] US oil companies pay more in taxes than foreign oil companies

2] Foreign oil companies have limitless financial resources through their governments, while private US oil companies do not.

Marathon is another oil company that will "disappear" soon. Marathon's fields are depleting and they don't earn enough in profits to acquire new sources of oil.

You're a little weak on your business theory.

Justifiably...

Mircea

[RCCCB]

Government makes up to $6 for every $1 an oil company makes on the same oil.

Any problem with that?