pind

And you know what makes the whole profit thing all worthwhile


http://www.gulf-daily-news.com/Story...&IssueID=29042

I really like that report

Enjoy

HotRod82

As much as I hate the price of fuel....the windfall tax is a terrible idea. There are MANY MANY companies out there that make a higher profit margin than the oil companies. So if you tax the big oil co's don't you have to tax ALL of the big profit businesses? I totally agree we are getting raped, but you do have the option to conserve and maybe not drive a 10MPG guzzler.

P.J

Hmmmm.... That would be like Bush ordering $.90 per gallon off of our diesel.
Yeah, THAT'S gonna happen. All the states are scrambling to act like they care on bit too. Talking about temp. repeals of fuel taxes and such, I believe about 5% of what I hear and half of what I see these days.

P.J

Agreed. BUT those other companies, do they produce something we all need?

Conserving is a joke. I filled up a 5 gallon can to use in my lawnmower on Sunday, $14.65!!!!!!!!! Can't do much conservation there?

Thats what it used to cost me to fill up my Mazda truck and buzz around for a WEEK!

HotRod82

Ouch!! 15 bucks to mow your lawn!! As far as the other companies I was referring to, my wife works in the bio tech industry and their profit margins would make you sick. Conservation is not a joke...my wife dumped her Jeep GC and bought a toyota corolla because it gets 3 TIMES the fuel mileage. With a 30 mile commute that really adds up. At least the good news is the prices are here to stay for at least 2 years. yippee!! I dont know which is worse, Bush in office being sympathetic to the oil companies...or a left wing guy that won't let us drill here for oil and wants us all to take the bus and not drive at all. Our politicians suck.

P.J

Yeah, I didn't really mean conservation as a whole was a joke. I was simply stating that sometimes it not really possible.
Talk about left wing guys, a guest on Bill Mahr last week suggeted that we should all move closer to our jobs to save gas money??!
Makes sense, huh? Move close to the city where you can afford half of what you live in now, and end up with a postage stamp yard for your kid to play in............
He got shot down instantly, but he was quite serious. (the jerk lives in London, the public transportation is a bit different there, ya think?)


Oh well, the question I keep asking people is "What's gonna stop us" (meaning how much per gallon until you literally can't afford to run you vehicle)
$6.00 a gallon, $8, $9?

You laugh, but who knows..........

Oilguy

Average American Middle class?
Who do you think I am??
Do you really think it takes 10K to make a difference?
How much was oil prices in 98?
Fact is most people sit around a point out what they think is problems and they are too lazy to go do something about it! They will sit in the same rut every day and have a big pitty party and wonder why they are not getting ahead after they haven't made any plans to get ahead.
If you really think about it... how long did it take you to get where you are?? 20 years... 30? And you want things to get fixed over night... and be done for you!
If you see that something is happening get out front so something happens for you and your family. You can't wait til exxon hits the top and then think you are going to get in and profit... Most people that are successful did not hit the "Home Run"...It was a bunch of little base hits that added up.

I am a Middle Class American with high expectation and I am going to be in the top brackets >> Hopefully soon than later and it is not very appealing to me if I am gong to be punished for getting there by a bunch of loser politicians that have voters with their hands out waiting for a paycheck!

Oilguy

infidel

If you bought $1 worth of Exxon stock in 1970 it would now be worth $1440 not including inflation.

TEXWS6

And you could afford to buy $5/gallon gas and not ***** about it!!

P.J

Two distinctly different things. That would be like earning a profit on utility stock and just saying "Oh well, I'm not upset that my electric bill is 65% higher for some unknown reason, it's a wash with the money I made on the stock.

As if that changes the fact that their are drastic, unexplainable swings in the price of a good or service?

Chrisreyn

What upsets me about this isnt the fact that a corporation turns a large profit, we all know that is what they are suppossed to do, they have an obligation to their shareholders to make money.
What ticks me off is the tax breaks tehy oil company's have been granted, such as the huge ones after katrina( to allow them to repair the damage and keep teh supply flowing), and they statements that were mmade as to how much money tehy were loosing etc. etc..... and then to turn around and see them posting record profits, THAT makes me mad.
If tehy didnt need the tax incentives and breaks to stay in bussiness, tehn tehy shouldnt have received tehm, and since tehy DID, tehy should "re-pay" those taxes on this profit.

ptgarcia

Oil companies know they have this country by the *****, and by giving them tax breaks to rebuild we reaffirm this. Gas prices will never go down until we quit buying it...period.

bigdav160

Pretty obvious, people just like to.

Forget Bush. He is a "big government" liberal and never made money in the oil business. I doubt he even know what's going on. Removing the tax subsidies wouldn't affect the price at the pump anyway. It will just make us feel better.

Oil company profits will always be tied to the price of a barrel of crude. Right now the the barrel price is high so their profits are high. Ten years ago oil companies didn't have any profits and nobody wanted their stocks.

Conservation??? In the big picture, a rather ridiculous idea when you think about it. Our's, as well as the worlds economy requires energy to produce and transport goods. Prosperity cannot happen by conserving. Maybe buying a Corolla helps your own pocket book but my family cannot fit in such as small vehicle.

Moving closer to work too expensive for ya? I did the opposite and found a good job close to where I live. I know a lot of people that moved "out to the country" now that are about fuel cost. I have little sympathy.

I remember the same old complaints and ideas in the 1970's after the oil embargos. Then again in the 1980's (Iran-Iraq war). Who can forget Jimmy Carter's "windfall profit tax" and price controls that led directly to gasoline outages and rationing? I still have one of those "out of gas" signs.

The price will come down eventually but just not to the old levels.

infidel

Nothing could be more wrong than the idea that politicians can and should do something to drive down fuel prices. Governments can't control the price of commodities traded in the world market. If they could, there'd still be a Soviet Union and it would be the world's greatest economic superpower. All this blather you're hearing about windfall profits that need taxing, price-gouging investigations, government rebates for consumers and even gas-tax holidays amount to cynical election-year pandering by Republicans and Democrats alike. Not everybody in elective office is a genius, but even the dimmest bulb in government knows full well how supply and demand works. And, by the way, these investigations into price-gouging will cost you millions of tax dollars, all so that our politicians can fool you into thinking they are doing something useful. We've been here before: They will find nothing.

HaulinBut

Hooray for Them! Glad to see an American company turn a profit. Looks like they will be able to stay in business...at least for now. (and keep supplying those good products to you and me). That is if Mother Nature, the treehuggers and congress don't mess with them too much.
Just think....besides that, with their tax rate being 43.9% last year, that means they are paying nearly as much as that 4 Billion to help pay for many of our programs and the silly porkbarrel projects that keep coming out of Washington DC.
My guess is you would like to see them punished for turning a profit, Huh? What about someone like Starbuck, or the bottled water folks who sell their product for WAY more than what these good folks charge us for a gallon of fuel? THEY should probably be hanged!
Sorry to see that Chevron's stock dropped today. I wish them the best.