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Old 06-06-2011, 08:35 AM
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FIMCO-MEISTER FIMCO-MEISTER is offline
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As gas prices go up lets place the blame where it belongs.

Where there is no conflict there is no interest. I am a shareholder in Exxon/Mobil and my Dad worked at Mobil for over 40 years in exploration. Frankly it is one of the finest run businesses in the country without any of the executive greed one sees in many of them.

Don't get sucked in by the anti-capitalist rants against big oil.

http://www.exxonmobilperspectives.co...in-washington/

Quote:
During the first three months of this year, for every gallon of gasoline and other products we refined and sold in the United States, we earned about 7 cents. Compare that to the 40 to 60 cents per gallon that went from gasoline consumers to the government (state and federal) in gasoline taxes.
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Government policies did not cause the shale gas revolution in this country – but they could stop it in its tracks.

Policymakers need to look carefully at the facts and avoid a bias against natural gas and fossil fuel development in favor of far more costly energy sources that are already receiving massive subsidies.

In fact, we’ve already spent more on alternative energy subsidies than we did on the Manhattan and Apollo projects combined. And what do we have to show for it? Unreliable and uneconomic energy sources that still can’t compete – even at today’s prices.

On the other hand, natural gas is affordable, available – and doesn’t need taxpayer subsidies.
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Old 06-06-2011, 08:42 AM
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Of course, record profits for oil companies during times of high gasoline prices is just an amazing coincidence....
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Old 06-06-2011, 09:00 AM
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FIMCO-MEISTER FIMCO-MEISTER is offline
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If you'd bother to read the article i won't have to keep showing snippets.

Frankly we should be thankful this fabulous American located company is bring money back to the US.

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ExxonMobil’s earnings are from operations in more than 100 countries around the world. During the first quarter, more than three-quarters of our operating earnings came from outside of the United States.

The part of ExxonMobil’s business that refines and sells gasoline, diesel and other products in the United States represents less than 6 percent – or 6 cents on the dollar – of our earnings.

Why so little? Because we actually buy more crude oil to refine into gasoline and diesel in the U.S. than we produce ourselves. And these purchases are made on the open market at the prevailing rates.
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Old 06-06-2011, 09:08 AM
GreenLight GreenLight is offline
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Im not defending big oil companies, but I have never really understood the "finger pointing" that goes on with these guys. They are generally mega corporations who are in business to make a profit. Not sure how they really shoulder the blame, every business I have EVER heard of will increase their pricing model as long as the demand is there to pay for it. The whole price gouging argument might be true, but what exactly is price gouging? Does a business not have every right to charge whatever they want?

Every big player on the oil scene is traded publicly on the stock market. Every citizen in this country controls their fate for being boom or bust. As Fimco said, our own government hides behind huge tax percentages on gas (cigarettes as well) with very little transparency, all the while blaming instability in the middle east as the biggest culprit.

If big oil is guilty then so are pharmaceutical companies (profit margins that can be as high as 3000% over cost), the whole healthcare industry, Lawyers, etc.
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Old 06-06-2011, 09:15 AM
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Quote:
Originally Posted by GreenLight View Post
Im not defending big oil companies, but I have never really understood the "finger pointing" that goes on with these guys. They are generally mega corporations who are in business to make a profit. Not sure how they really shoulder the blame, every business I have EVER heard of will increase their pricing model as long as the demand is there to pay for it. The whole price gouging argument might be true, but what exactly is price gouging? Does a business not have every right to charge whatever they want?

Every big player on the oil scene is traded publicly on the stock market. Every citizen in this country controls their fate for being boom or bust. As Fimco said, our own government hides behind huge tax percentages on gas (cigarettes as well) with very little transparency, all the while blaming instability in the middle east as the biggest culprit.

If big oil is guilty then so are pharmaceutical companies (profit margins that can be as high as 3000% over cost), the whole healthcare industry, Lawyers, etc.
Guilty guilty guilty!!

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Old 06-06-2011, 09:18 AM
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FIMCO-MEISTER FIMCO-MEISTER is offline
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Big oil in the US is in a more difficult position. Look around the world and most countries nationalize their oil production to use as govt revenue and to control their citizens further. Leftist Pols are dieing to figure out a way to take over oil. If the VOLT from Government Motors fails as we all know it will watch the blame being placed on big oil.
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Old 06-06-2011, 09:21 AM
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Corporations with massive profits are in a difficult position. Pity them, and shed tears on their behalf.
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Old 06-06-2011, 09:21 AM
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FIMCO-MEISTER FIMCO-MEISTER is offline
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Guilty of making a profit! Egads I'm a criminal too. I'll go find a scarlet letter P.

Those profits flow to millions of American shareholders and to future energy production.
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Old 06-06-2011, 09:26 AM
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I thought about running trucks on CNG made by my own compressor rig.

Then I thought about what the news story would be like when the shop building comes down in pieces over five towns.
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Old 06-06-2011, 09:52 AM
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sprinklerchris sprinklerchris is offline
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Personally, I blame rising gas prices on the fall of the value of the US dollar.

The change is far too fundamental to be blamed on a few corporate fat cats. Americans have been living beyond their means for decades.
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