Money – Exxon Mobil's profit is expected to jump as much as 30% when it reports its first-quarter earnings next week as the oil giant joins the crowded stage of $120 oil, U.S. retail gasoline prices approaching $4 a gallon and flare-ups in the geopolitical scene from Nigeria to the Persian Gulf.
"EARNINGS?" You mean legal thievery!!! And it gets tax incentives?!!
And Chavez is called a nut for throwing greedhead big oil out of Venezuela. They'll probably blame him for their need to FIX PRICES on their way to record profits.
Grr - And Chavez is called a nut for throwing greedhead big oil out of Venezuela. They'll probably blame him for their need to FIX PRICES on their way to record profits.
I am glad you said this because most Americans think we are angry at Chavez because of his politics, not his decision to kick the Oil mongers out of his country. If we are so angry about Chavez's politics why are we in bed with Pakistan, their leader is a dictator/murderer! IT'S CLEAR; PEOPLE DON'T THINK IN THIS COUNTRY. Gas will hit it's all time high this summer, I am talking really high because they know if a DEM wins their
Does this really surprise anyone here?These people in office,oil people,are smiling all the way to the bank.Yes i am blaming bush and cheney.But i have to drag my party's leadership into this also because they haven't said a word or done anything i can see to stop it.I think i should take up stealing,damn if you don't get away with what you steal but the government rewards you for doing it..go figure,and we as a country ALLOW it to happen.
you people talk about exxon like its dragon in a cave hoarding a chest of gold--that 30 % profit goes to shareholders like teachers or nurses or anyone with a 401k--and lets not forget about the the RECORD taxes it also pays on those profits--taxes that pay for all the govt programs dems are so keen on--the highest corporate rates in the world--just more fake class envy from the socialist left--
Strangely enough, while Exxon records record profits, my 401K is losing money.
Besides, if the logic is that paying out the ass at the gas pump somehow in the process of enriching the ultra-wealthy will also enrich me, I have a simpler proposal - let me pay a reasonable price instead of being gouged, and I won't need to wait for some little bit of it to trickle into my 401K.
Unless the country nationalizes the oil industry as a public utility, there is no hope. Oil is used by people to drive to work, schools, shop for food & medicines, visit doctors and most important by airlines.
If this commodity is not of public importance, what else is?
You could try walking to work, schools, shopping for food and medicines. It worked decades ago, it can work now. Get out of your big a$$ SUV and put on some walking shoes and save some money.
To nationalize oil is absurd. It is one of these "I want my cake and eat it too" scenarios. If you feel that oil companies are making too much profit, then go out and dig in your back yard and get your own oil and then refine it and sell it to us for $1.15 a gallon. Let me know when you have enough to fill my tank, would ya?
TOD396 - are you one of those guys who blame a rape victim for dressing provocatively??
The consumer is being RAPED to the tune of 40 billion a year in profits by Mobil-Exxon. & you blame us?
Bend over TOD - you're getting shafted too!
If YOU don't like the price of gas, buy something else. Or better yet, come up with an alternative and cash in. Or, you just sit back and complain, as you drive your SUV and tell us what others ought to do, so that YOU are comfortable.
Oil companies are making bank, because they have a product that is in short supply, and high demand. it is called a commodity. Reduce the demand, and the price goes down. Why don't you, and all like you, stop consuming oil, and it's related products, and watch demand go down. Otherwise, quit yer bitchin...
nationalize--you mean like as in socialism--this is like global warming or universal healthcare..just disguised efforts to move more money from the private sector to the govt--if any of these "progressive dems" ever ran on what they really want for this country they would get voted out in landslides--so instead of socialism or in obama's case ..marxism..we're saving the planet..or helping the 90 million uninsured children get tetanus shots..what commodity is NOT of public importance..corn?..coal?..all weather tires?..turnips?..where does it stop
ningo-glad to see I am not the only one that thinks this country is going socialist. That is Hillary's main objective. Does she not know or does she choose to forget that this way of living does not work and did not work for Russia? Does anyone in this country realize where we are headed under this way of running the country. The government and its specific limitations ass instructed by our founding fathers have no place in these specific issues and no right to insert themselves in these issues and act like it is normal politics. The government is only permitted/required under the Constitution to provide for the citizens what they can not or refuse to provide for themselves. This "the government owes me" crap has got to stop. Our politicians are starting to believe it, this violates their oath to the Constitution.
ningyo- I don't trade stocks but my brother does, when you are talking about the return to stockholders alot of these stocks in really large companies are sort of cheap when it comes to dividends, I may be wrong on this but I think that exxon only paid out under 3 percent as a annual dividend. If I am wrong on this could you provide a correct number. I know that a business has to have a profit if wants to stay but I do not see alot of invetment by them in things like refineries which are needed.
hey canadianrancher, the oil companies have been unable to build refineries for decades in the u.s.a it isnt because the oil companies didnt want to,, the regulationists, have been to prevent them from doing so... as far as return on your investment,,the oil stocks seem to be a favorite of teachers unions, public unions, congessional investments, police unions ,fire fighter union,state,local,federal unions,,,,funny how all the people that live off the govt have no problem investing in private businesses,,but love to complain about capitalism...i wonder where all the public paid employees would invest their work for welfare checks if there was no buisness to complain about
Although I am being hurt by the high prices for fuel I think that a nationalized fuel industry would be Enron times ten.
Might be expensive if nationalized. But the money made would go a long way toward paying down that $9 trillion debt we owe.
Nationalizing any industry only leads to another road to corruption on the part of public officials- But regulation of price is not the same as taking over a business or creating socialist state. We have regulation in many areas - utilities are a primary example. The average total tax on gasoline nationwide is 59 cents , the cost of the petroleum at the current barrel price is $1.25 - the retail & distribution markup is about 15 cents - --- so that leaves a whole lot of money going to the oil companies when we are paying over $3.70 a gallon - sounds like price gouging to me
Eyesopen, that statement is FALSE. According to last years testamony before congress, representatives of the oil companies stated on the record that the reason for no new refineries is that the oil companies believe that the demand for gas will decrease due to better fuel efficiency. I did not make that up. It is on the record.
So pay $4 per gallon and leave this discussion!
"So pay $4 per gallon and leave this discussion!"
That's right. If you can't agree with Nikkibabe, then you have to leave. You tell him Nikki. How dare someone not be in total agreement with you. It is downright preposterous. It's as though he has his own opinion, the buckin fastard. You were right to tell him to leave. This discussion is no place for people with opinions who differ from yours...
Because I farm I am not like a large percent of the population who could cut consumption to a degree, if I wish to produce I have to pay what they ask and up here in Canada we are paying $1.24 per litre for gas which is just under $5.00 per U.S. gallon and diesel for farm tractors is $1.16 per litre or around $4.60 per U.S. gallon so we are alot higher that you and the stuff comes from here.
The difference in price might be because the US produces more oil then Canada still, but I'm not sure. I'm not sure how the whole equation works, I'm almost certain Canada pays a higher tax then the US does as well but a positive towards the gas price in Canada would be the far lower rate of consumption. The places really hurting are the ones that pay closer to 12-15 dollars a gallon though, but the mass transit systems cutting down on the consumption help that alot.
if it would get the price of gas down, I think oil and gas should be nationalized.......where my wife works, it is a 30 or 45 minute drive to work, then 30 or 45 minute drive home every day........we don't have the luxury of getting to work closer to home because bush is giving company owners HUGE tax breaks to close shops here and send our work over seas especially to china......so we have to pay the price for gas.....the big oil companies are laughing all the way to the bank at everybody paying their prices for gas.......so, every body should go to their web sites and get their e-mail address, and their main headquarters phone numbers, and constantly call them and take our complaints straight to them, and take up all their time tying up their phones and fill their email boxes up until they give in and lower the gas prices
Thank price collusion by the oil industry. Also, thank your administration which conveniently allows corporate greed to take priority over the citizens.
Now lets hear it from the remaining conservative nutt jobs out there. Come on- let's hear your sarcasm and ridicule. The sarcasm and ridicule is the "intelligence" of the Republican party. McCain will be more of the same.
as far as republican or democrat....I'm neither.......if I had it my way, they all would be kicked out of office with their butts in the air and their noses on the ground instead of up in the air like they are all the time....then I would only put the people in office that has to work every day that knows how it is to have to live from paycheck to paycheck......and will look out for all of us everyday working americans
The terrorist have won , everyone gives up , now lower the price of Gasoline to a reasonable price .
A refinery on strike in Scotland will make the price go over $4.00 and it has nothing to do with the United States supply .
It looks as if Commodity Trading is being done by terrorist groups and are targeting the U.S. and the Dollar .
India nationalized the big American Oil companies & British Shell in 1970's and set up the Indian Oil Corporation. Now the price of gasoline is fixed by the Government and not by big oil. EXXON, MOBIL & Shell are still there but follow Government price guidelines.
So, it can be done.
Britain pays more then the United States does by a substantial margin. Nationalizing an industry is probably not the answer. Reducing demand is the answer and increasing supply. Comprehensive mass transit system, hydro/geothermal power where possible and a few nuclear plants as well, then building more refineries.
Cityslicker- I think that you are getting very close to what the real problem is with the energy prices, there has been an increase in demand but of late I haven't seen line ups or a visible shortage of either crude oil, gasoline or diesel. The speculators that are trading the energy futures are holding us all ransom and the oil companies are benefiting because they are able to hedge gas and diesel at a profit, it seems no one is going to stop using the stuff so the game will continue. I don't think that it is terrorists that are forcing the market but there are some large hedge funds that trade energy.
There are several reasons for the price of gas.
1. Environmental laws (different blends for different parts of the country.
2. It's a world market. If you can sell for more somewhere else you sell somewhere else. A company (ANY company) exists for one reason only, to make money for the owners. Most of the owners (stockholders) are middle class people.
3. State and federal taxes.
Note: Exxon-Mobile paid as much in income taxes last year as the bottom 50% of individual taxpayers (65,000,000 people!). http://seekingalpha.com/article/63131-exxon-s-2...
Exxon Mobile can move to another country and take their tax payments with then. Make it hard enough to business here and that's what they'll do.
If you what the Government to take control ask what happened in the 70's when we had price controls. Long lines and shortages. As Regan said, "Government isn't the solution to the problem, it is the problem."
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Great, yet another reason to smile while paying at the pump. I can't contain myself.
Who should we fear more, the terrorists or all the oil company stock holders watching the U.S. economy being destroyed. The houseing bust is directly due to gas going from $1.80 to $3.60 a gallon in five years. Cost of food is up 32% in one year. Soon the homeless and us will be bluring.
Is Bush running for re-election... the way people in this country think, he could pull it off...again!!