This was discussed ad nauseum around Labor Day, but I'll rehash Econ 101 again.

 

I assume that your talking about setting some form of price ceiling. Bad, bad idea. Price ceilings will ultimately lead to a lower quality gasoline (due to companies cutting costs any way possible to make money). They can also lead to an artificial shortage in gasoline in the long run. Without getting too specific, a price ceiling will force some companies to decide that they don't want to continue producing gasoline at that price. It will also limit/prevent new companies from entering that field. Actually, the people that would gain the most from a price ceiling would be the government, as they would now have the power to decide who gets to sell what and at what price.

 

If you really want to see how bad of an idea this is just type in the words "New York Rent Control". :lol:

 

Here is a link regarding price controls:

 

http://www.unc.edu/depts/econ/byrns_web/GreatIdeas/01-Cornerstones/GI-04.htm#_Toc13958260

 

Actually I rather take the Brazilian approach... but the oil/gas partners in the states won't allow it.

 

And lower gas quality? There are too many grades of it I will give you that.

 

I am suggesting windfall taxes. Anytime the price is over $55 dollars they get taxed 30-40%. It will force the oil companies to find a way to get lower prices in which they can clearly do.

 

Unless you work for an oil company I don't see how you think they need BILLION dollar profits.... and I certainly don't need 3.00 gas. Even at $55 a barrel they will have high multi-millon dollar quarterly profits.

Unless you work for an oil company I don't see how you think they need BILLION dollar profits.... .

 

How much revenue was that on?

How much revenue was that on?

 

Exxon, the world's largest publicly traded oil company and its biggest corporation by revenue, said it made $10.5 billion in the third quarter, or $1.77 per share on revenue of $99.6 billion. It was a 26 percent increase in earnings for the company, excluding a big gain last year related to restructuring in a Dutch natural gas business.

 

Exxon, which reported near record earnings of $10.5 billion this quarter, says increased investments in exploration and production led to a 7 percent gain in output in the third quarter.

 

"They make more in one quarter than some companies that get more headlines have in market cap," said Fadel Gheit, an oil analyst at Oppenheimer. "I have been watching it for 20 years and it never fails to amaze me."

 

The earnings trounced Wall Street estimates. Analysts were looking for Exxon to make $9.68 billion in the quarter, or $1.59 per share, according to First Call.

 

Curing oil sands fever

Exxon's earnings did not top its best quarter ever, which came at the end of 2005. Exxon made $10.7 billion in the fourth quarter of 2005, the most ever for any U.S. corporation.

 

 

 

I don't have as much sympathy as you do for them CS, something tells me they aren't living off the dollar menu at Mcdonalds.

Exxon, the world's largest publicly traded oil company and its biggest corporation by revenue, said it made $10.5 billion in the third quarter, or $1.77 per share on revenue of $99.6 billion. It was a 26 percent increase in earnings for the company, excluding a big gain last year related to restructuring in a Dutch natural gas business.

 

Exxon, which reported near record earnings of $10.5 billion this quarter, says increased investments in exploration and production led to a 7 percent gain in output in the third quarter.

 

"They make more in one quarter than some companies that get more headlines have in market cap," said Fadel Gheit, an oil analyst at Oppenheimer. "I have been watching it for 20 years and it never fails to amaze me."

 

The earnings trounced Wall Street estimates. Analysts were looking for Exxon to make $9.68 billion in the quarter, or $1.59 per share, according to First Call.

 

Curing oil sands fever

Exxon's earnings did not top its best quarter ever, which came at the end of 2005. Exxon made $10.7 billion in the fourth quarter of 2005, the most ever for any U.S. corporation.

 

 

 

Something tells me they aren't living off the dollar menu at Mcdonalds.

 

So a company making 10% of its revenue as a profit needs to have extra taxes?

So a company making 10% of its revenue as a profit needs to have extra taxes?

 

You and I both know they could do more to bring down the price of oil if they wanted too.

 

Are you really going to enjoy 3.00-3.25 gas in December.... hope you don't have a lot of kiddies to shop for? Not to mention 4.00 in the spring and summer a lock at this point.

Actually I rather take the Brazilian approach... but the oil/gas partners in the states won't allow it.

 

And lower gas quality? There are too many grades of it I will give you that.

 

I am suggesting windfall taxes. Anytime the price is over $55 dollars they get taxed 30-40%. It will force the oil companies to find a way to get lower prices in which they can clearly do.

 

Unless you work for an oil company I don't see how you think they need BILLION dollar profits.... and I certainly don't need 3.00 gas. Even at $55 a barrel they will have high multi-millon dollar quarterly profits.

 

Technically, I guess nobody really NEEDS any profit. If they can continue to pay all their bills, salaries, overhead and fixed costs then they don't really NEED any additional profit. Unless you want to expand your business, or seek out new markets. This is America, home of capitalism, love it or leave it.

 

If you don't NEED 3.00 gas, don't buy it. :lol: If the demand goes down, the price will drop accordingly.

 

Windfall taxes would be fine if the purpose of our government was to regulate and determine the levels of output of American economic forces. As stated earlier, that is NOT our governments purpose and never has been. I do believe the term "laissez faire" applies here.....

You and I both know they could do more to bring down the price of oil if they wanted too.

 

Are you really going to enjoy 3.00-3.25 gas in December.... hope you don't have a lot of kiddies to shop for? Not to mention 4.00 in the spring and summer a lock at this point.

 

If I don't "enjoy" it, I can make changes.

 

Its also said that they will have rising costs in the very near future for exploration and labor costs.

You and I both know they could do more to bring down the price of oil if they wanted too.

 

Are you really going to enjoy 3.00-3.25 gas in December.... hope you don't have a lot of kiddies to shop for? Not to mention 4.00 in the spring and summer a lock at this point.

 

I agree, they could. But why? Isn't all of our economy based on maximizing profit?

 

If you don't like the price, seek out alternate methods of transportation. Don't buy gas. The problem is that here in the USA, we want to have our cake and eat it too. We refuse to give up our gas guzzling SUVs and expensive driving habits, but we want to complain about gas prices.

Technically, I guess nobody really NEEDS any profit. If they can continue to pay all their bills, salaries, overhead and fixed costs then they don't really NEED any additional profit. Unless you want to expand your business, or seek out new markets. This is America, home of capitalism, love it or leave it.

 

If you don't NEED 3.00 gas, don't buy it. :lol: If the demand goes down, the price will drop accordingly.

 

Windfall taxes would be fine if the purpose of our government was to regulate and determine the levels of output of American economic forces. As stated earlier, that is NOT our governments purpose and never has been. I do believe the term "laissez faire" applies here.....

 

You are right.. it is capitalism... abuse of it.

 

How are people supposed to stop driving to work? The don't buy it theory will never work. Too many rich/upper middle class and middle class people eating it up in the big SUV's.

 

Maybe when we get to 150 oil dollar and 4.00 gas it will impact you guys.

I agree, they could. But why? Isn't all of our economy based on maximizing profit?

 

If you don't like the price, seek out alternate methods of transportation. Don't buy gas. The problem is that here in the USA, we want to have our cake and eat it too. We refuse to give up our gas guzzling SUVs and expensive driving habits, but we want to complain about gas prices.

 

My car gets 30 MPG and I don't joy ride... what do I do now?

 

Maybe the 3.00 gas will sink the retailers further.. then they will complain and people will listen.

 

This is nothing new... first it was 2.00, then 2.50, now its 3.00 year round... there gonna go all the way up to 4.00 cause they agree with you and know they can get away with it.

You are right.. it is capitalism... abuse of it.

 

How are people supposed to stop driving to work? The don't buy it theory will never work. Too many rich/upper middle class and middle class people eating it up in the big SUV's.

 

Maybe when we get to 150 oil dollar and 4.00 gas it will impact you guys.

 

Your attempt to play the rich/poor card is embarassing and classic.

 

The real culprit in this case is the govt who has had its head in the ground forever on this issue. To now have them attempt to punish an industry that has done well because we Americans(also culprits) haven't forced the issue and , instead, continue to suck up the gasoline would be a farce.

 

Housing prices have soared in recent year which has caused rent to go up. Do we place extra taxes on homebuilders and apartment owners?

My car gets 30 MPG and I don't joy ride... what do I do now?

 

.

 

If you're saying its putting a financial pinch on you, you can either get another job to increase your income or lower some of your other expenses. Get rid of your cable. There's $50/month.

If you're saying its putting a financial pinch on you, you can either get another job to increase your income or lower some of your other expenses. Get rid of your cable. There's $50/month.

 

I do fine... but this is the typical approach we have heard of the past few years.... families have to sacrifice so the oil people get richer... gotta love capitalism. I do understand your point though.

 

How many gas stations are racing to put in E-85 pumps? You know more about this then me... doesn't Brazil have a nice approach to gas prices? Why can't we do that?

I do fine... but this is the typical approach we have heard of the past few years.... families have to sacrifice so the oil people get richer... gotta love capitalism. I do understand your point though.

 

?

 

Families sacrificing when times are tough is the American way. We pride ourselves on it, right? Your passion is completely misdirected on this issue. Have you called your Congressman/Senator demanding alternative methods NOW? There's where your passion should be directed.

Families sacrificing when times are tough is the American way. We pride ourselves on it, right? Your passion is completely misdirected on this issue. Have you called your Congressman/Senator demanding alternative methods NOW? There's where your passion should be directed.

 

Yes I know we are in recession under Bush. How many gas stations are racing to put in E-85 pumps? You know more about this then me... doesn't Brazil have a nice approach to gas prices? Why can't we do that?

 

I still say they are taking us for a ride right now cause they know under the next president an actual energy bill/source will be passed and enacted. They know its coming.....