Ap
Exxon Mobil record profit in a single quarter (2008) 11.7 billion. They also earned 40.6 billion in 2007.
Chevron Corp had a profit of 18.7 billion in 2007.
What do you do?
Capitalism. You don't/can't do anything.
Beef Wrote:Capitalism. You don't/can't do anything.
and in the Master's Chambers, they've gathered for the feast...
I've never heard a single sermon (in America) preached out of Revelation 18, which, basically, calls out and warns the merchants and traders of the earth. Wonder why? Because we still dance around a golden calf, only it's paper or accumulated in a "portfolio" or dividends report.
I don't like it but the truth of the matter is that they're in business to make money. What do suggest they do?
Armchair QB Wrote:I don't like it but the truth of the matter is that they're in business to make money. What do suggest they do?
For one thing they could stop gouging prices, and raping the consumers around the world, secondly they could look for alternative fuels. I would like that.
Armchair QB Wrote:I don't like it but the truth of the matter is that they're in business to make money. What do suggest they do?
Making money and lining their pockets is two different things. The consumer has allowed this to happen... US... ME.... yep.... nothing is going to change unless the "consumer" comes up with a way to change it! We can't very well stop purchasing gas and stay at home.....
How much profit would you agree is acceptable? We need to be careful when we judge these people. They have invested billions of dollars and they are getting a return on their investment. If you research you will find they are making about they are getting around a 20-25% return on their investment. If you make 20-25% on your investments(401k, IRA, or even a small business) do you say wait I am making too much, and I won't except this money. Or if I am driving a Camry do I say, no this is excessive, I will by a Corolla instead and donate the difference in the cost to charity.
Probably very view people on this site consider themselves rich, however, the fact that they own a computer would make them extremely rich in a third world country such as Haiti.
Again, I am not defending or be critical of anyone, just pointing out that we need to be careful not to be hypocritical.
First, Exxon doesn't set oil prices or gasoline prices. So how is it their fault. Second, Exxon paid more in taxes than everyone on this site will earn in their combined lifetimes. I don't like high gasoline prices, but how is it Exxon's fault??? Exxon pays for oil used to make gasoline. The market sets the oil prices. Higher oil is driving the price of gasoline and the demand is only going to go up as China and India get in on the demand side. Also, gasoline would be a whole lot cheaper if they didn't have a hefty government tax built into the price we pay!!
I'm not defending oil companies entirely, but there is a lot more going on that the simple statement that we are paying a lot and the oil companies are getting rich and price gouging us.
EKY Sportster Wrote:First, Exxon doesn't set oil prices or gasoline prices. So how is it their fault. Second, Exxon paid more in taxes than everyone on this site will earn in their combined lifetimes. I don't like high gasoline prices, but how is it Exxon's fault??? Exxon pays for oil used to make gasoline. The market sets the oil prices. Higher oil is driving the price of gasoline and the demand is only going to go up as China and India get in on the demand side. Also, gasoline would be a whole lot cheaper if they didn't have a hefty government tax built into the price we pay!!
I'm not defending oil companies entirely, but there is a lot more going on that the simple statement that we are paying a lot and the oil companies are getting rich and price gouging us.
Correct enough, it is no simple formula. I would think a company earning excess billions would pay more taxes than all of the Bluegrass Rivals participants combined...this is stating the obvious. If you are suggesting that there is no collusion in the worldwide petroleum trade, that would be an interesting, though staggeringly naive, assertion. In my opinion, the points you make about China and India are valid, while gasoline taxes, it would seem to me, coincide with the high costs of maintaining roads and all the heavily travelled interstate by-ways.