Exxon boasts record profits
HRinGA
412 Posts
OK, this is my soapbox week I guess.
[url]http://www.foxnews.com/story/0,2933,205872,00.html[/url]
$10 BILLION??? not million, but BILLION!!
Is it just me, or is something seriously wrong with this picture?
[url]http://www.foxnews.com/story/0,2933,205872,00.html[/url]
$10 BILLION??? not million, but BILLION!!
Is it just me, or is something seriously wrong with this picture?
Comments
This is capitalism at work - supply and demand are the cost drivers here. That Exxon is getting the publicity because it's business is doing what it's stockholders expect is just that - capitalism.
If you think they have a monopoly on a big enough part of this equation to have the AG's office go after them, then that's another story.
Worldwide demand is as high as it has ever been. China, almost by itself, is taking a HUGE chunk of supply. Couple that with all the uncertainty in the supply chain (real or imagined), and you can see how traditional economic factors are making this happen.
As a consumer, we have alternatives. Most of us categorize those alternatives as unworkable for our particular circumstances for one reason or the other.
1. Too far to bike, and there is no shower at work.
2. Public transportation hours are not conveneient, or I can't get up that early.
3. Carpools don't match my weird hours.
4. I can't work at home, my job needs face to face contact, or my ER won't let me.
5. Etc.
6. Ad infinitum,
7. Ad nauseum.
Don't drive a hue jass SUV with DVD players in the back for the kids.
Let your kids walk to school if safely possible, or, gasp, take the school bus.
Consolidate errands.
Cook at home instead of fast food drive throughs or driving to restaurants because it's too hard to take care of (feed)the children.
So many Americans have no consciousness of global or national issues.
Marc, alot of workers cannot telecommute; they don't have the kind of jobs that would allow that. I'm talking about service workers, restaurants, retail, industrial, and so forth. Everyone is not white collar or middle class.
Many workers live in very large cities and a bus trip could be three or more busses and take many hours, although it could be done. A minor solution. Biking to work?? Two thirds of America is either overweight or obese - yeah a good idea, but umm?
My point is that this gas price crisis is not the fault of the lower middle or middle class; it's come about largely as a result of the investment speculators and the oil industry greed itself. The cost of a barrel of oil has no relationship to the cost of a gallon of gas because they manipulate the entire process. To encourage people to buy stock in oil is only making the problem worse. Let'e profit from the misery of those American people who will soon not be able to get to work! TO make their miserable wage.
Does anyone wonder why this industry with its record profit is not being regulated by the government? Gee, let's see...
>
>Don't drive a hue jass SUV with DVD players in
>the back for the kids.
What do DVD players have to do with gas? They run off the battery.
>>
>>Don't drive a hue jass SUV with DVD players in
>>the back for the kids.
>
>What do DVD players have to do with gas? They
>run off the battery.
Ok, it's just a visual that annoys me.
I would now suggest the same regarding the oil companies.
If you aren't enriching your retirement savings from the likes of big oil, pharmaceuticals, and the "out of control" health care industry, you're missing the boat, because that boat is sailing and sailing rather nicely.
Until folks stop spending money elsewhere, (b/c they can't, b/c of gas), then nothing will change. We keep going further and further into debt.
I haven't really changes my habits, except I try to limit my driving on weekends. Until the economy begins to suffer, they have no reason to lower the cost of gas. In my area, we have record housing boom, new retail stores popping up, everything is grand. It's like they keep raising prices just to see how high they can go. They do it b/c they can. Capitalism at its finest indeed.
Just so you know, the taxes on a $3.00 gallon of gas are just above $0.40 while the profits are about $0.10. Yet you don't hear citizens, and you especially don't hear state and national governments talking about that piece of the pie.
The real windfall is going in two really big pockets. Governments, through taxes and Oil producers. Most of these oil producers are foreign government. More than a little of the dollars flowing into them are turned around and invested against the U.S.A.
Cuba, with plenty of foreign investment, is drilling 60 miles of the coast of FLA. Yet we cannot. Similar concerns are cropping up with exploration and intended drilling in the Gulf of Mexico. We have not built a refinery in the U.S. for decades.
So lets continue to restrict supply and let's continue to do nothing significant about demand. At this rate, $5 a gallon is not as far off as you might think. When it gets here, we will still be whining and not doing enough. Our politicians will still be using this as nothing more than a campaign plank. Empty promises and sabre rattling will abound.
We poor laborers, will still be at the mercy of those we vote(d) into office, and will still complain of being powerless.
Biofuels will help, but their potential needs nurturing. Building some refineries and expanding U.S. production in the meantime can be important. The solar industry has fizzled, but there is more to be done in that arena. And we cannot forget nuclear power - but there are many issues with the disposal of spent fuel that have yet to be ironed out.
Lots can be done - yet still we hesitate and look to others to solve this problem. The real solution is up to each of us.
Gasoline taxes have been a hot topic in NY since we are one of the highest taxed states. Those who live across the border in PA can usually buy gas there for 10 to 15 cents per gallon less than here. So, now we have politicians on opposing sides of the aisle arguing the merits of gas tax reduction.
I have found it distressing that since oil is such an integral part of our lives that we are doing virtually nothing to develop our own supply and rely almost solely on countries that consider us to be the Great Satan, or in the case of Venezuela, are more aligned with our enemies.
We are a nation dependent on oil. We must someday make a choice, take steps to reduce that dependence or stop listening to the tree huggers.
I'm heading to the midwest later this week, just changed the oil, filled the tires with air, it has 3 good coats of wax and will be washed before we leave; since it is so hot, I'll run the AC with the windows closed and in my nice big comfortable Buick I should get close to 30 mpg, if not more when I hit the flat midwest.
Maybe it's time to contact myth busters
I recently heard/read (?) that by filling your tires w/ nitrous, the average savings is 3% in fuel, annually. One station here is charging $10 per tire to fill. If I do the math, for my vehicle, I would save $39, BUT it would cost $40 to the tires filled. heh.
Fact or fiction?