Oil execs: Record prices not our fault

[John Anthony]

No. Do you?

 

I don't know. People say there meetings and locations are public knowledge now. There supposed to meet first week of June, so lets see if oil goes up dramatically after they meet. Since they want to "eliminate" our middle class with 200 dollar oil.

[Jim Schue]

He's just someone who believes in theres no such thing as an excessive profit. And if you had a business, would you want there to be? He is also someone who believes in drilling in the US, which we all would agree. I don't think he is profiting from this.

 

We are all equally frusterated but you gotta look at it 360 degrees. I am def not a big oil fan and i'm open to trial and error with windfall taxes, but if we drill here we may not need them.

 

I guess I've always followed the philosophy of my father, who balanced making money with doing what is right by his fellow man. Too bad there aren't more people like my old man.

[John Anthony]

You do realize that hundreds (probably 1000's) of companies make much higher profit margins than any of the oil companies. So are we going to windfall tax any company with a greater than 12% profit margin at a higher rate than those below that level??? As previously pointed out, it will not work, and why would we want to give that money to the worst "money managers" in the history of mankind (any government). Where they are likely to get a negative ROI.

 

Who are you, or congress for that matter, to decide what the "appropriate" level of profit is?

 

Here is a simple answer. Buy less of the product they are selling. Change your behavior. Supply and demand is not BS. Especially in a marketplace of the size we are talking about.

 

Cost is only an issue in the absence of value. I tire of hearing people complain about the cost to fill their tank. Usually they are the 30 somethings driving 7 passenger SUV's by themselves.

 

Heres the supply and demand problem... proven fact.. supply is down, well down in the US. Suppy is well up in China/India/Middle East mostly because there gas prices are regulated to spark economic growth. How do we win?

[cch5432]

I guess I've always followed the philosophy of my father, who balanced making money with doing what is right by his fellow man. Too bad there aren't more people like my old man.

Say your theory that AcesFull is a big time oil investor. What can he do to justify his making a good investment? Donate money? Because I'd bet the farm that he does his share.

 

Or is making a solid investment inherently evil? Should he take his money out of the profitable business?

 

Either way, who knows if he really is.

[John Anthony]

I guess I've always followed the philosophy of my father, who balanced making money with doing what is right by his fellow man. Too bad there aren't more people like my old man.

 

Trust me my friend I can't stand big oil right now.. only because we have no alternative. People say.. Western Union makes so and so, check and cash places do as well... well, we don't HAVE to use them.

 

I'd put water in my tank if I could but I can't. We should have addressed this issue years ago. Over the last 7 years no nuke plants have gone up, no new refineries at closed military bases, and the repubs point the finger at the dems, the dems point it right back.

 

We need a real man or women to say we will be energy independent by so and so like someone once said we will be on the moon. And make good on there word.

[Gunner11]

Jim,

 

If I remember correctly you just had some work done on your computer or bought a new one???

 

Do you have an Intel processor in your computer?

 

I guess congress needs to bring up the execs of Intel to the hill because for every dollar in revenue they bring in nearly 22 cents of that is net profit.

 

What operating system are you running?

 

If it is Microsoft XP or Vista, I guess they need to visit the hill too because every dollar in revenue they bring in 31 cents of that is net profit.

 

I really hope you do not search with Google as their execs for sure need a visit to the hill. Every dollar in revenue they bring in 30 cents of that is net profit.

 

These are all signficantly higher than the 17 cents of net profit per dollar of revenue that Exxon Mobil makes.

[Gunner11]

Heres the supply and demand problem... proven fact.. supply is down, well down in the US. Suppy is well up in China/India/Middle East mostly because there gas prices are regulated to spark economic growth. How do we win?

 

The price is subsidized in the US just like the countries you speak of. The bottom line is that price is not yet enough of a deterrent for people to stop driving their 7 passenger vehicles by themselves. I see it all the time everyday.

[AcesFull]

Say your theory that AcesFull is a big time oil investor. What can he do to justify his making a good investment? Donate money? Because I'd bet the farm that he does his share.

 

Or is making a solid investment inherently evil? Should he take his money out of the profitable business?

 

Either way, who knows if he really is.

I think that when my membership expires that I will re-register as Big Oil Man. :lol:

 

The truth is, I have had to curtail my 300 mile visits to my family in Kentucky because of high gas prices. I am just smart enough to recognize when our government iis trying to dodge responsibility for a mess that it has created for the sake of hanging on to their jobs. There is no government body that I trust less than the US Senate and we have three US Senators running for the presidency. Things will get much worse before they get better.

[Jim Schue]

Say your theory that AcesFull is a big time oil investor. What can he do to justify his making a good investment? Donate money? Because I'd bet the farm that he does his share.

 

Or is making a solid investment inherently evil? Should he take his money out of the profitable business?

 

Either way, who knows if he really is.

 

I don't know AF from Adam, and perhaps I was too harsh.

 

However, it takes a lot of guts to defend the gross (as in disgusting) profits oil companies are making in conjunction with our economy barreling non-stop, sans-brakes, toward a depression.

 

Again, everyone wants to make money, and I don't begrudge that. I hope my company's investment plan has a great year.

 

But at this point in history, I would equate holding stock in oil companies as akin to holding investments in apartheid-era South Africa. There are more ethical places to invest your money, and if that 12 percent figure I've seen floated around is to be believed, there are also many more profitable places for people to go and invest.

[Gunner11]

Trust me my friend I can't stand big oil right now.. only because we have no alternative. People say.. Western Union makes so and so, check and cash places do as well... well, we don't HAVE to use them.

 

I'd put water in my tank if I could but I can't. We should have addressed this issue years ago. Over the last 7 years no nuke plants have gone up, no new refineries at closed military bases, and the repubs point the finger at the dems, the dems point it right back.

 

We need a real man or women to say we will be energy independent by so and so like someone once said we will be on the moon. And make good on there word.

 

I agree with the last 2 paragraphs to a degree, but I would much rather see a corporation create the alternative fuel than the government, but at this point it is going to take pockets so deep that only the government may be able to afford to take the risk.

 

You do have a choice though, be smart about your travel and purchase of oil.

[Jim Schue]

Jim,

 

If I remember correctly you just had some work done on your computer or bought a new one???

 

Do you have an Intel processor in your computer?

 

I guess congress needs to bring up the execs of Intel to the hill because for every dollar in revenue they bring in nearly 22 cents of that is net profit.

 

What operating system are you running?

 

If it is Microsoft XP or Vista, I guess they need to visit the hill too because every dollar in revenue they bring in 31 cents of that is net profit.

 

I really hope you do not search with Google as their execs for sure need a visit to the hill. Every dollar in revenue they bring in 30 cents of that is net profit.

 

These are all signficantly higher than the 17 cents of net profit per dollar of revenue that Exxon Mobil makes.

 

But like JA said, I don't NEED a computer. While the adjustment was tough, after a week or so, I didn't really miss not having a computer at home that much.

[cch5432]

I don't know AF from Adam, and perhaps I was too harsh.

 

However, it takes a lot of guts to defend the gross (as in disgusting) profits oil companies are making in conjunction with our economy barreling non-stop, sans-brakes, toward a depression.

 

Again, everyone wants to make money, and I don't begrudge that. I hope my company's investment plan has a great year.

 

But at this point in history, I would equate holding stock in oil companies as akin to holding investments in apartheid-era South Africa. There are more ethical places to invest your money, and if that 12 percent figure I've seen floated around is to be believed, there are also many more profitable places for people to go and invest.

We are obviously not going to agree, I don't equate oil companies to apartheid South Africa. I see their profit margins as less than many major companies, and not disgusting. I'd rather have this than government control of these industries because I believe it would end in a much worse scenario. Granted, I am very much so more well off than most people.

 

FWIW, heading towards a recession, not a depression.

[Gunner11]

But like JA said, I don't NEED a computer. While the adjustment was tough, after a week or so, I didn't really miss not having a computer at home that much.

 

 

You made my point for me... You are right and do people "need" a 7 passenger vehicle to transport 1, 110 pound person from A to B???

 

People drive the price/cost of goods and services.

 

There are alternatives out there if you really believe that gas is too costly for you to purchase, you will not buy it, or buy much less of it. Take action.

[Jim Schue]

We are obviously not going to agree, I don't equate oil companies to apartheid South Africa. I see their profit margins as less than many major companies, and not disgusting. I'd rather have this than government control of these industries because I believe it would end in a much worse scenario. Granted, I am very much so more well off than most people.

 

FWIW, heading towards a recession, not a depression.

 

Sorry, but a depression is right around the corner at this rate. Prices have already gone up exponentially on most products at the grocery store, while wages have remained pretty stagnant w/relation to cost of living, and that's usually a pretty good indicator.

 

Yup, my South Africa metaphor works pretty well. I encourage everyone to divest from oil holdings ASAP; stop supporting oppressive companies.

[Gunner11]

We are obviously not going to agree, I don't equate oil companies to apartheid South Africa. I see their profit margins as less than many major companies, and not disgusting. I'd rather have this than government control of these industries because I believe it would end in a much worse scenario. Granted, I am very much so more well off than most people.

 

FWIW, heading towards a recession, not a depression.

 

IMO we are heading toward neither. I highly doubt we will have negative GDP.