BuffaloBill Posted April 28, 2011 Posted April 28, 2011 Expecting people to lash back I wonder how and if the current situation will change American energy consumption practices.
BuffaloBill Posted April 28, 2011 Author Posted April 28, 2011 No one go to Exxon/Mobil gas stations until they lower the price of gas.Go to other gas stations. Any of the companies that are pumping oil are likely to post very healthy profits. The real money for them is not made at the pump it is made coming out of the ground.
Peace Posted April 28, 2011 Posted April 28, 2011 (edited) Why the "poor Exxon" title? Good for them and good for the USA. Or am I supposed to hate profitable companies and cheer the ones in bankruptcy? Edited April 28, 2011 by Peace
erynthered Posted April 28, 2011 Posted April 28, 2011 Why the "poor Exxon" title? Good for them and good for the USA. Or am I supposed to hate profitable companies and cheer the ones in bankruptcy? Share holders are not allowed ROI, you know that!! BAD EVIL CORPORATIONS!!!!!!!!!!!!!!!!!!
Chef Jim Posted April 28, 2011 Posted April 28, 2011 Why the "poor Exxon" title? Good for them and good for the USA. Or am I supposed to hate profitable companies and cheer the ones in bankruptcy? And we should also hate on the guy who has the 401k I reviewed yesterday? He has 90% of his 401k in Chevron stock (he works for Chevron) which is not smart but his 401k earned $134k in the first quarter.
dib Posted April 28, 2011 Posted April 28, 2011 Why the "poor Exxon" title? Good for them and good for the USA. Or am I supposed to hate profitable companies and cheer the ones in bankruptcy? I dislike companies that make exorbitant profits at the expense of consumers. Someone passes gas in the Middle East and oil companies raise gas prices 12 cents a gallon. Yes I'm aware that oiil prices are increasing, and why is that do you suppose.
Fan in Chicago Posted April 28, 2011 Posted April 28, 2011 I dislike companies that make exorbitant profits at the expense of consumers. Someone passes gas in the Middle East and oil companies raise gas prices 12 cents a gallon. Yes I'm aware that oiil prices are increasing, and why is that do you suppose. Because demand is increasing, supply-demand curves work and there is a lot of political turmoil in oil-producing regions ? Oh wait, that is not the answer you were looking for.
Fingon Posted April 28, 2011 Posted April 28, 2011 I dislike companies that make exorbitant profits at the expense of consumers. Someone passes gas in the Middle East and oil companies raise gas prices 12 cents a gallon. Yes I'm aware that oiil prices are increasing, and why is that do you suppose. Look at a chart which shows the value of the dollar, then look at a chart of oil prices.
Fan in Chicago Posted April 28, 2011 Posted April 28, 2011 psh I made double that B=billions and not bucks
DrDawkinstein Posted April 28, 2011 Posted April 28, 2011 (edited) Why the "poor Exxon" title? Good for them and good for the USA. Or am I supposed to hate profitable companies and cheer the ones in bankruptcy? Let's find out how much they paid (or DIDNT pay) in taxes before we're patting them on the back. They made $11Billion and likely paid less in taxes than you and I... No wonder this country is hemorrhaging money. But we CANT tax companies, right? That's against capitalism and un-American! So let them keep all of that $11Billion and pad a few people's pockets... Edited April 28, 2011 by DrDankenstein
Fingon Posted April 28, 2011 Posted April 28, 2011 Let's find out how much they paid (or DIDNT pay) in taxes before we're patting them on the back. They made $11Billion and likely paid less in taxes than you and I... No wonder this country is hemorrhaging money. But we CANT tax companies, right? That's against capitalism and un-American! So let them keep all of that $11Billion and pad a few people's pockets... It's because Exxon has to pay countries to extract oil from them. For example, they have to pay Nigeria 85% of the profits gained from oil extracted in their country. They paid almost $80 billion in global taxes last year, but only $8 billion within the US. The global oil business is a pay-to-play market.
DrDawkinstein Posted April 28, 2011 Posted April 28, 2011 (edited) It's because Exxon has to pay countries to extract oil from them. For example, they have to pay Nigeria 85% of the profits gained from oil extracted in their country. They paid almost $80 billion in global taxes last year, but only $8 billion within the US. The global oil business is a pay-to-play market. Yep, a lot of money to all those other countries. Where do you think all that money Nigeria got came from? My pocket and your pocket, and barely any of our cash was re-invested into our own country. They paid $0 in federal income tax in 2009 and 2010 (and I have to assume 2011). Yet they profited by $11Billion and gas is $4/gallon. How can anyone be ok with that? Im not saying they shouldnt be allowed to try make money, but if they are going to eff us, they should at least be paying for our dinner. Edited April 28, 2011 by DrDankenstein
dib Posted April 28, 2011 Posted April 28, 2011 Because demand is increasing, supply-demand curves work and there is a lot of political turmoil in oil-producing regions ? Oh wait, that is not the answer you were looking for. supply and demand? There have been instances where demand has dropped and fuel companies have rasied prices to make up the difference
Fingon Posted April 28, 2011 Posted April 28, 2011 (edited) Yep, a lot of money to all those other countries. Where do you think all that money Nigeria got came from? My pocket and your pocket, and barely any of our cash was re-invested into our own country. They paid $0 in federal income tax in 2009 and 2010 (and I have to assume 2011). Yet they profited by $11Billion and gas is $4/gallon. How can anyone be ok with that? Im not saying they shouldnt be allowed to try make money, but if they are going to eff us, they should at least be paying for our dinner. It's US tax law. If you don't like it, call your representative and ask to change it. They aren't effing anyone, they spend $400+ billion to make $40 billion in profit. It's not like they are making an obscene profit margin. If you want to blame someone for high gas prices, blame the Federal Reserve and the President. Bush and Obama have been devaluing the dollar for a solid decade. To buy oil you have to pay in US dollars, but with the dollar in a free fall, it takes more and more to buy that barrel of oil. Edited April 28, 2011 by Fingon
pBills Posted April 28, 2011 Posted April 28, 2011 Because demand is increasing, supply-demand curves work and there is a lot of political turmoil in oil-producing regions ? Oh wait, that is not the answer you were looking for. But is it ALL based on supply-demand. Could there be price manipulation?
Rob's House Posted April 28, 2011 Posted April 28, 2011 These threads make me want to eat my own brain. Just a few questions before we delve into empty outrage: How many gallons of gas were sold to reach that profit? How much did state and fed govt make of the taxes on those gallons? What percentage of total revenues is profit and how does that compare to other industries?
KD in CA Posted April 28, 2011 Posted April 28, 2011 (edited) I dislike companies that make exorbitant profits at the expense of consumers. Someone passes gas in the Middle East and oil companies raise gas prices 12 cents a gallon. Yes I'm aware that oiil prices are increasing, and why is that do you suppose. Assuming you are not operating from an ignorant, pBills-level "OMG -- there's a 'B' after that number!!!!" reaction, how exactly do you define 'exorbitant' profits? $2.14 per share doesn't sound exhorbitant to me. But we CANT tax companies, right? That's against capitalism and un-American! That's not capitalism in any form. That's called corrupt politics. Of course, the same corrupt politicians are doing a great job of fooling idiots into repeating the "Business Bad!" mantra while they line their pockets with the campaign cash in exchange for creating the very tax laws you are so upset about. But let's ignore the crooked politicians and instead bash American employers. Everything will be fine if we elect real outsiders like Obama. Edited April 28, 2011 by KD in CT
Pete Posted April 28, 2011 Posted April 28, 2011 The line between government and corporations is thin to say the least. We start false wars over oil and our domestic policy is contingent upon oil. This dogmatic partnership deters new inventions that could help solve the energy crisis
DrDawkinstein Posted April 28, 2011 Posted April 28, 2011 (edited) It's US tax law. If you don't like it, call your representative and ask to change it. They aren't effing anyone, they spend $400+ billion to make $40 billion in profit. It's not like they are making an obscene profit margin. If you want to blame someone for high gas prices, blame the Federal Reserve and the President. Bush and Obama have been devaluing the dollar for a solid decade. To buy oil you have to pay in US dollars, but with the dollar in a free fall, it takes more and more to buy that barrel of oil. That's not capitalism in any form. That's called corrupt politics. Of course, the same corrupt politicians are doing a great job of fooling idiots into repeating the "Business Bad!" mantra while they line their pockets with the campaign cash in exchange for creating the very tax laws you are so upset about. But let's ignore the crooked politicians and instead bash American employers. Everything will be fine if we elect real outsiders like Obama. I do agree with both of you that this is much like bitching about the Bills crappy players, when the real problem has been Ralph and the FO. The crooked/greedy politicians who have lobbyists lining their campaign pockets so they are sure to NOT tax the company are the main problem. But that doesnt stop us from complaining about Maybin and the rest of em... Edited April 28, 2011 by DrDankenstein
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