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BP and Shell post big profits in era of record oil prices


newarkcatholicfan

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This occurs while most businesses in the country are losing money. May all of the oil company heads rot in the devil's house after suffering a long, painful death.

 

 

BP PLC and Royal Dutch Shell PLC, Europe's two biggest oil producers, posted forecast-busting first-quarter earnings on Tuesday thanks to record crude oil prices that are expected to bolster profits across the industry.

 

The combined profits of $17 billion reignited calls for a windfall tax on oil profits as consumers struggle to pay for food and fuel.

 

 

http://news.yahoo.com/s/ap/20080429/ap_ ... /earns_oil

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I saw an airline going under weekly for a lil while there. Doubt I will see an oil company go under. Enjoy it while you can big oil.. there is a nice big leash waiting for you in November.

 

Even though I wish this to be so, what can the President do to effect gasoline prices? I mean that is actually feasible. Who do you think will pull the leash and how?

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Sure congress could do more but then Bush would veto what ever they tried.

 

If that's true, then by this time next year we should see a drop off in gas prices. Everyone that blames all of this on Bush had better hope that prices are lower within two years. Although I can already say what the number one excuse will be.

 

"Well if Bush hadn't let gas prices get so bad..." :lol:

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Even though I wish this to be so, what can the President do to effect gasoline prices? I mean that is actually feasible. Who do you think will pull the leash and how?

 

That windfall tax is going to spoil billion dollar profits down to hundreds of millions. Hillary or Barak will enforce it. It's a good thing, it finally forces them to do more to make sure crude stays low, and more importantly it puts a A LOT of money into finding alternative sources.

 

McCain has oil ties I doubt he will do a windfall... but whoever it is will have to do something to get it back to around 2.25 or 2.50 or in 4 years they will be out of a job.

 

Americans are fooled in to thinking this is just the way it is. Because this administration has not wanted to do anything, they haven't had a reason too. Bush learned 2 months ago about 4 dollar gas coming, I posted an article on it.

 

65% of current voters say gas prices is there #1 topic. Do you think 3.50 gas is going to get anyone a second term?

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Sure congress could do more but then Bush would veto what ever they tried.

 

Then why not go ahead and push some legislation and force Bush to veto it? Congress is controlled by Democrats so they could use that to help their presidential candidate, correct? The fact is they are just as much in bed with Big Oil as W.

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Then why not go ahead and push some legislation and force Bush to veto it? Congress is controlled by Democrats so they could use that to help their presidential candidate, correct? The fact is they are just as much in bed with Big Oil as W.

 

Yup!! Plus I think the American people give politicians too much credit, or blame, just because they know their names...

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This is exactly what I bring up when I complain about gas prices. I understand the value of a dollar conundrum, and all the other circumstances as to why the gas prices are going up, but despite all that oil companies are pulling in record profits? I don't get it...

 

When was the last time you saw gas in this high of demand???? Check the profit's compared to others, we had a thread about this previously, forget what it was compared to but against 4 or 5 other majore products not brand names but actual consumer items, gas made less by a good bit after all the costs.

 

The argument that people make, is supply and demand for gas prices caused oil to sky rocket in value; yes China demanding more played a part at some point. But if you're talking about BP and Shell profits those are simply because demand is higher in the US now more than ever.

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