May 1, 200818 yr Ha wow, please show me Bush's profits that last quarter from all this oil money he's making. I didn’t say bush made money............but I do take it you are one of the last 3 out of 10 supporting our commander and chief.
May 1, 200818 yr I didn’t say bush made money............but I do take it you are one of the last 3 out of 10 supporting our commander and chief. I can't stand how people disrespect our President...even if you disagree with him, he is the leader of our country and deserves respect. And even if he supports Bush, it is irrelevant. You honestly believe that this economic stimulus package is designed so that consumers will spend the entire thing on gas? Gas is a necessity (as evidenced by the fact that everyone is still buying it), so people are going to buy it regardless of the stimulus package. People aren't going to get their check and say "I am buying gas today!" No, they would be doing that with or without the check. (BTW a lot of this post is alluding to your earlier post, to avoid confusion)
May 1, 200818 yr I didn’t say bush made money............but I do take it you are one of the last 3 out of 10 supporting our commander and chief. I too would be one of those last 3.
May 1, 200818 yr I can't stand how people disrespect our President...even if you disagree with him, he is the leader of our country and deserves respect. And even if he supports Bush, it is irrelevant. You honestly believe that this economic stimulus package is designed so that consumers will spend the entire thing on gas? Gas is a necessity (as evidenced by the fact that everyone is still buying it), so people are going to buy it regardless of the stimulus package. People aren't going to get their check and say "I am buying gas today!" No, they would be doing that with or without the check. (BTW a lot of this post is alluding to your earlier post, to avoid confusion) Agree. He deserves respect.
May 1, 200818 yr 1.The tax will clearly state: "Taxed when the price of crude is over $50 dollars. MANY people think they are manipulatiing the market. They could do more to get it back down to 50 dollars, they would just be sacrificing a few of their billions. Even at 50 dollar oil, they should still make BILLION dollar profits. It's just they will be making nice profits vs. record profits. 2. You are alluding to big oil and there greed. They are enjoying there multi-billion dollar profits so much why should they do anything to lower it? Well, if they are being taxed up to 50% that will be a very, very, nice piece of change to use strictly for developing alternative sources as opposed to charitable donations like Exxon gave of 100 million. Everyone agrees we have to get off oil. We need to experiment with a lot of sources and need to fund those sources. Should we just continue to let big oil get rich.. after all it is capitalism, or should we try to balance things out some. American Airlines said they lost 328 million in the first quarter directly relating to oil/gas cost. They also are saying they are losing money on each flight or 3.3 million PER DAY. Maybe when big oil bankrups airlines all together and have to drive all over the country they will be annoyed. Are you Karl Marx the liberal or just plain ole Karl? J/K No, seriously which one? Oil companies are greedy, I'll give you that. But you are saying that wrongfully taking the greedy's money is the solution. Who or what made you believe that? I'm not willing to concede the power of the U.S. to oil companies but just because I'm not ready doesn't mean it isn't happening. Regardless, why would more taxes do anything other than cause BP/SHELL to raise the price of oil per barrel to make up for what is being taxed? Alternative fuel sources need to be found, and found quickly. But the bottom line is that our economy will shut down without oil, period. Like it or not, the oil companies are dictating our economy. Until we find an alternative fuel source we are at their mercy, so until then I'd prefer we not "tick" them off by unfairly taxing them just because they are maximizing their profit or "fulfilling the American Dream". In short, they are the Bull and you not what happens when you mess with the Bull.....:devil:
May 1, 200818 yr By the way, another reason BP and Shell may be maximizing profits is because people are becoming more aware of who controls or what country controls the crude oil that each company uses. For example, (Chavez? - Venezuelan leader) and (#1 American hater/Iranian supporter) owns all of the Citgos, FasGas, and Petro Expresses in the U.S. Those places don't get much business where I live because word has spread about his politics. And I live in an area thats about as rural as it gets. When I buy gas here in Pike County, you better believe its at a BP or a Sunoco because neither of the two purchase their oil from Venezuela or the Middle East.
May 1, 200818 yr Author I thought I read(somewhere) where BP has teis with their oil to the middle east? I could be wrong. I read a lot of stuff and at my age I do forget a lot.
May 2, 200818 yr Exxon missed there goal today for the first quarter.. maybe someone is going to get laid off.. NEW YORK (CNNMoney.com) -- Record oil prices netted Exxon Mobil a $10.89 billion profit in the first three months of the year, sharply higher than a year earlier but short of Wall Street estimates and below what was needed to set a new all-time profit record. The profit was still enough to be the second-highest U.S. corporate profit on record, falling just short of the record $11.66 billion Exxon Mobil (XOM, Fortune 500) earned in the prior quarter. The profit in that quarter came to $1,385 a second, enough to buy nearly 382 gallons of gas at current prices. The sheer size of the Exxon profit reported Thursday will still likely attract attention from consumer groups and lawmakers, who have been arguing for higher taxes on oil companies amid soaring gas and oil prices. But yet people will continue to defend them.... unreal.
May 2, 200818 yr Exxon missed there goal today for the first quarter.. maybe someone is going to get laid off.. NEW YORK (CNNMoney.com) -- Record oil prices netted Exxon Mobil a $10.89 billion profit in the first three months of the year, sharply higher than a year earlier but short of Wall Street estimates and below what was needed to set a new all-time profit record. The profit was still enough to be the second-highest U.S. corporate profit on record, falling just short of the record $11.66 billion Exxon Mobil (XOM, Fortune 500) earned in the prior quarter. The profit in that quarter came to $1,385 a second, enough to buy nearly 382 gallons of gas at current prices. The sheer size of the Exxon profit reported Thursday will still likely attract attention from consumer groups and lawmakers, who have been arguing for higher taxes on oil companies amid soaring gas and oil prices. But yet people will continue to defend them.... unreal. I'm like you on this one, to a degree. I don't understand how people can defend this stuff. I've got no problem with making a reasonable profit; that's what our system is all about. But what is going on now is downright predatory. A nice, ethical company would show some restraint, rather than trying to sock it to us when we're already down. It's like a person who goes to an all-you-can-eat buffet and eats until they're full, then stops. Oil companies and their stockholders (who I hope can sleep at night for their unpatriotic investments), on the other hand, are like the guy who goes to the buffet and eats five or six plates, goes to the bathroom to make more room, then comes back and hits it again. Greed and gluttony at its worst, and I believe both qualify as two of the seven deadly sins.
May 2, 200818 yr I'm like you on this one, to a degree. I don't understand how people can defend this stuff. I've got no problem with making a reasonable profit; that's what our system is all about. But what is going on now is downright predatory. A nice, ethical company would show some restraint, rather than trying to sock it to us when we're already down. It's like a person who goes to an all-you-can-eat buffet and eats until they're full, then stops. Oil companies and their stockholders (who I hope can sleep at night for their unpatriotic investments), on the other hand, are like the guy who goes to the buffet and eats five or six plates, goes to the bathroom to make more room, then comes back and hits it again. Greed and gluttony at its worst, and I believe both qualify as two of the seven deadly sins. If you feel that way, that is your own right. Personally, I feel like it is just Exxon doing as well they can in an industry in which the cost of inputs is only rising. But if you feel like they are greedy, then abstain from using their services, and tell your peers to do the same. But don't hurt the rest of the economy by overtaxing them. These gas companies obviously provide the most efficient and inexpensive solutions for consumers- if not, another company would have come in by now and done something about it. The main concern for me is that the barriers to entry in the oil industry are high largely in part because you need a high capital investment to enter the market, so it is possible that oil companies could artificially inflate prices. I don't find this to be the major problem right now, because there are quite a few firms and I have trouble believing that they are working together to manipulate us. I also can't say that I wouldn't do some similar things if I were in there position right now. Regardless, taxing them for their greed will not help the consumer, or the companies big shot employees, or their lower-level employees, or the economy in general. It will help Big Brother though, who is always here to save us!
May 2, 200818 yr Speaking for myself alone, I'm not trying to defend the oil companies and I hardly believe they deserve or need my defense. But I will and do defend capitalism. Its not perfect, but it is the most fair economic system to date.
May 2, 200818 yr Exxon missed there goal today for the first quarter.. maybe someone is going to get laid off.. NEW YORK (CNNMoney.com) -- Record oil prices netted Exxon Mobil a $10.89 billion profit in the first three months of the year, sharply higher than a year earlier but short of Wall Street estimates and below what was needed to set a new all-time profit record. The profit was still enough to be the second-highest U.S. corporate profit on record, falling just short of the record $11.66 billion Exxon Mobil (XOM, Fortune 500) earned in the prior quarter. The profit in that quarter came to $1,385 a second, enough to buy nearly 382 gallons of gas at current prices. The sheer size of the Exxon profit reported Thursday will still likely attract attention from consumer groups and lawmakers, who have been arguing for higher taxes on oil companies amid soaring gas and oil prices. But yet people will continue to defend them.... unreal. What % is that $10.89 billion? What profit margin do you think an oil company should run? I am not defending anyone. I spent $60 this morning to fill up a Ford Ranger. It hurts and I hate it. But is it the oil companies fault that oil costs what it does? Is taxing them more going to make the price come down? It's funny how none of the pro tax people want to answer that question.
May 10, 200818 yr 2007 Profits Wal-Mart 11.3 Billion General Electric 20.8 Billion Citigroup 21.5 Billion Bank of America 21.1 Billion J.P. Morgan / Chase 14.4 Billion Berkshire Hathaway 11.0 Billion Johnson & Johnson 11.1 Billion Pfizer 19.3 Billion Microsoft 12.6 Billion Maybe we should create a special tax for all of these greedy companies also.
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