pBills Posted April 28, 2011 Posted April 28, 2011 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. 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. So KD can the companies do something to lower prices?
Fingon Posted April 28, 2011 Posted April 28, 2011 So KD can the companies do something to lower prices? Lobby the government to stop devaluing the dollar.
pBills Posted April 28, 2011 Posted April 28, 2011 Lobby the government to stop devaluing the dollar. I still think it's more than that. I do believe it has to do with people running scared every time there is a gun shot anywhere in the middle east, a storm in the gulf, etc., etc. Fact is that prices are being driven up and up with every new news story and not coming back down.
KD in CA Posted April 28, 2011 Posted April 28, 2011 So KD can the companies do something to lower prices? Newsflash: people don't risk their time and money creating an entity so they can undercut themselves by arbitrarily lowering their prices. I'm not surprised that someone who has zero concept of how a business enterprise works wouldn't understand that. Don't like high gas prices? Buy a car with higher MPG or ride a bike. Want more money in your pocket? Work harder or start expecting politicians to lower rather than raise taxes.
Peace Posted April 28, 2011 Posted April 28, 2011 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. How is Exxon "effing us" by following the law? How much did you "give" to the federal government last year beyond what you were legally required to pay? I mean, after you paid all your 2010 taxes, I assume you wrote a check to the federal government so as not to eff it (and us). How much did you pay uncle Sam when you did that? I know that when I pay my taxes, I go out of my way to pay as much as I can and ignore all deductions.
pBills Posted April 28, 2011 Posted April 28, 2011 (edited) Newsflash: people don't risk their time and money creating an entity so they can undercut themselves by arbitrarily lowering their prices. I'm not surprised that someone who has zero concept of how a business enterprise works wouldn't understand that. Don't like high gas prices? Buy a car with higher MPG or ride a bike. Want more money in your pocket? Work harder or start expecting politicians to lower rather than raise taxes. Douche bag... I understand that. So your way to deal with higher has prices is to walk or get a car with higher mpg. Freakin' brilliant. Such a moron. Edited April 28, 2011 by pBills
ieatcrayonz Posted April 28, 2011 Posted April 28, 2011 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. First quarter hour this morning? Not bad for an amateur.
Chef Jim Posted April 28, 2011 Posted April 28, 2011 Let's try an experiment. Let's turn every topic posted over on OTW into a political topic and get it moved here. Whoever gets a thread sent here the quickest wins a prize.
3rdnlng Posted April 28, 2011 Posted April 28, 2011 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. You are right. They should be paying the U.S. instead of Nigeria to drill for more oil right here.
Rob's House Posted April 28, 2011 Posted April 28, 2011 Let's try an experiment. Let's turn every topic posted over on OTW into a political topic and get it moved here. Whoever gets a thread sent here the quickest wins a prize. I think I could do it, but I'm already skating on pretty thin ice around here.
Peace Posted April 28, 2011 Posted April 28, 2011 (edited) Let's try an experiment. Let's turn every topic posted over on OTW into a political topic and get it moved here. Whoever gets a thread sent here the quickest wins a prize. Excellent idea. My entry. http://forums.twobillsdrive.com/topic/129559-64-year-old-arnold-schwarzenegger-to-star-in-terminator-5/page__view__findpost__p__2150637 Really, we should make this a daily contest. Edited April 28, 2011 by Peace
Magox Posted April 28, 2011 Posted April 28, 2011 (edited) 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... We really need to stop thismisinformation. The reality is that they payed over $7.7Billion in all taxes (including income taxes, read the link) combined for 2009 and most likely even more in 2010 and even more this year. Gasoline prices aren't high because of Exxon. You're blame is misguided. Oil prices are rising because we underinvested in oil infrastructure going back 10-20 years ago simply because Oil companies were losing money and there wasn't enough money for new oil projects. Now that oil prices are soaring, money is flowing into these projects, but there simply aren't enough rigs, oil pipelines are old and many need to be replaced, and for the most part all the easy shallow oil has been drilled for, so now that leaves deeper sea targets which take many years to extract significant oil from, and that doesnt even address the permitting of allowance to drill. You could also place the blame at not having good energy policy here in the U.S going back since forever. We over here like the gas guzzlers, just like everything else we do, AMericans like to do everything in excess. Lets not forget about where we are getting our oil from. Talk about instability, its only rational that there will be a risk premium attached to the price of oil because of the possible supply disruption scenarios, and the closer we get to not having spare capacity the larger the premiums. ANd since China, India, Brazil and some other latin american, middle eastern and southeastern asian countries are growing at a rapid clip, spare excess capacity is sinking. Lets not forget about the falling dollar. As the value of the dollar sinks, the value of pretty much anything priced in dollars go up, specially those that are exported to us. So please, enough of the bozo "EXXON is EVIL" talk, because for those of us who really know whats up, it just makes you appear rather silly. They paid $0 in federal income tax in 2009 and 2010 (and I have to assume 2011). Not true... Now since I proved it, in which you could look it up yourself, apologize to everyone for providing misinformation. Edited April 28, 2011 by Magox
Rob's House Posted April 28, 2011 Posted April 28, 2011 Excellent idea. My entry. http://forums.twobillsdrive.com/topic/129559-64-year-old-arnold-schwarzenegger-to-star-in-terminator-5/page__view__findpost__p__2150637 Really, we should make this a daily contest. And One http://forums.twobillsdrive.com/topic/129559-64-year-old-arnold-schwarzenegger-to-star-in-terminator-5/page__gopid__2150658
Magox Posted April 28, 2011 Posted April 28, 2011 supply and demand? There have been instances where demand has dropped and fuel companies have rasied prices to make up the difference It's mainly supply and demand. But you have to factor in excess capacity and the threat of that capacity being diminished or disrupted along with the falling dollar. But is it ALL based on supply-demand. Could there be price manipulation? Not really. There could be price collusion between commodity traders, that is a possibility but those sort of occurences don't keep oil prices high for a sustained period. What is happening today, isn't manipulation considering the length of time prices have remained high. Also for you foks out there, Exxon can not make prices go higher. The only way they could is either directly at the gas pump, in which if they did the rest of the gasoline/oil companies would charge less the correct amount and Exxon would get smashed or if they witheld production at both their refineries and oil well production. At these prices, they aren't witholding ****, i can guarantee you that. So KD can the companies do something to lower prices? nope, the oil companies have very little to do with higher oil prices.
TPS Posted April 28, 2011 Posted April 28, 2011 Don't blame Exxon. If you're cost/barrel to pump oil is $40, and "other factors" cause the price to go up from $80 to $110, then your gross margin just went up. They reap the benefits of those "other factors" pushing prices up.
BuffaloBill Posted April 28, 2011 Author Posted April 28, 2011 Let's try an experiment. Let's turn every topic posted over on OTW into a political topic and get it moved here. Whoever gets a thread sent here the quickest wins a prize. My thread - I moved it - it rightfully now belongs over here in the "wild west"
Chef Jim Posted April 28, 2011 Posted April 28, 2011 Excellent idea. My entry. http://forums.twobil...ost__p__2150637 Really, we should make this a daily contest. I'd be good for $5 a day in a pool. My thread - I moved it - it rightfully now belongs over here in the "wild west" Oh it belonged over here sooner. But seeing you have the ability to move threads you can't participate in the contest.....sorry.
Chef Jim Posted April 28, 2011 Posted April 28, 2011 Excellent idea. My entry. http://forums.twobil...ost__p__2150637 Really, we should make this a daily contest. Ok I've thought about this and this contest is going to be too easy. How about a contest to see who can get a thread from here moved over THERE. I think it's safe to say that would absolutely be a first.
Peace Posted April 28, 2011 Posted April 28, 2011 Ok I've thought about this and this contest is going to be too easy. How about a contest to see who can get a thread from here moved over THERE. I think it's safe to say that would absolutely be a first. The Bills better pick Peterson.
BuffaloBill Posted April 28, 2011 Author Posted April 28, 2011 Ok I've thought about this and this contest is going to be too easy. How about a contest to see who can get a thread from here moved over THERE. I think it's safe to say that would absolutely be a first. You are absolutely correct .... Oh it belonged over here sooner. But seeing you have the ability to move threads you can't participate in the contest.....sorry.
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