Something is wrong here...

BreakEvenPlayer · #1 10-28-2005, 04:33 AM

Today Exxon Mobil released its quarter 3 earnings and they have record profits of $10 billion. Also several other oil companies are showing major profits.

Yet at the pump we're still paying INSANE gas prices. Why aren't these companies sharing the burden in with the rising price of crude oil??? Ridiculous.

Il_Mostro · #2 10-28-2005, 05:12 AM

First of all, you are not paying anything like insane prices. You realise that a gallon of gas has about 600 man hours worth of energy, right? And you get it for 3$, that ain't bad, huh?

And secondly, that's the market. The end price has little to nothing to do with production price...

whiskeytown · #3 10-28-2005, 05:19 AM

he's not missing the fact though that while we're giving off subsidy after subside and prices are going higher and higher, some of these companies are reaping record profits and not passing it on to consumers -

If the capitalist forces that bear feel they can continue to exploit us like that, then they can do it without our tax-breaks and subsidities - Congress will just roll those right back, right?

Oh no, that's right - the Republicans and big oil work together to [censored] the middle class - finding a Republican who'll take on oil companies and big business is like finding a Hilton sister who wants to take a vow of poverty and become a nun. Good luck.

RB

vulturesrow · #4 10-28-2005, 08:24 AM

There is something wrong here, you dont understand basic economics or the flucuations of profit in the oil industry.

jakethebake · #5 10-28-2005, 08:38 AM

You do realize that >50% of what you pay at the pump goes to the government? If you want to pay less, convince the govt to stop taxing us to death.

ACPlayer · #6 10-28-2005, 08:51 AM

"Let them buy our stock" the CEO of Exxon was heard saying.

etgryphon · #7 10-28-2005, 09:53 AM

[ QUOTE ]
"Let them buy our stock" the CEO of Exxon was heard saying.

[/ QUOTE ]

XOM sucks right now...I want a split!

-Gryph

natedogg · #8 10-28-2005, 10:55 AM

[ QUOTE ]
Today Exxon Mobil released its quarter 3 earnings and they have record profits of $10 billion. Also several other oil companies are showing major profits.

Yet at the pump we're still paying INSANE gas prices. Why aren't these companies sharing the burden in with the rising price of crude oil??? Ridiculous.

[/ QUOTE ]

here we go again...

natedogg

mackthefork · #9 10-28-2005, 11:04 AM

[ QUOTE ]
First of all, you are not paying anything like insane prices. You realise that a gallon of gas has about 600 man hours worth of energy, right? And you get it for 3$, that ain't bad, huh?

And secondly, that's the market. The end price has little to nothing to do with production price...

[/ QUOTE ]

$3 is nothing, we are paying $9-$10 in the UK, nearly 80% goes to HMC&E, that guy who had a goal of being pissed on at college should move to Blighty and buy a car, the effects are much the same minus the hardon.

Mack

TomCollins · #10 10-28-2005, 11:06 AM

Oil is a commodity. Suppose Exxon Mobil decides to be nice and cut the price of oil to 1 cent below market value. They sell out instantly, the traders make a profit, and they lose several million dollars.

But profit is bad. I forgot. Businesses should only try to make "so much" money. I'm sure you do the same, and try to get jobs that only pay you so much.