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Oil execs defend huge profits before Senate
Vanive
Member Posts: 49
Oil execs defend huge profits before Senate
‘Laws of supply and demand are at work,’ Shell chairman explains
I gotz a 300,000 BTU WTFBBQ!
Comments
The sooner we get rid of oil the better.
People who have to create conspiracy and hate threads to further a cause lacks in intellectual comprehension of diversity.
Well, stop using it to run our lives anyways.
I gotz a 300,000 BTU WTFBBQ!
After I got through reading this I noticed my hand was trembling. I then noticed my heart was beating rapidly. I had no choice but to deduce that I was PISSED THE FUCK OFF! (Forgive the language) The smugness that comes across in this article just makes me sick to my stomach. I won't knock their hustle, but man does it rub me the wrong way when it comes off as no more as a comedic game to them (the oilmen).
Thank god I went with a Honda or I just don't know how I'd stomach the commute in Atlanta. Honestly, I don't much mind the high cost of gas. The economy fluxuates as does the flow of foreign affairs. It's when American based companies, especially those with a monopoly over the product which they distribute, take advantage of a bad situation (declining economy) to make record profits each and "every," quarter that it just starts to bother a person even as apathetic as myself.
But after the emotions cool and all things are considered - this is what America is built on. Get what ya can, when ya can and the rest be damned I suppose.
The government has the right to regulate transportation, it was one of the first precedents created in the constitution. The government began by building canals and railways, then went on to roads. If so much of this war is about oil, and oil is a definite means of transportation, why is this country not profiting off of this war? As socialist as this sounds, I believe the government has the full right to regulate oil prices. I do not, however, believe the government does a good job regulating anything moneywise, though. If you cannot trust the government, and you cannot trust the corporations, who can you trust? The fact that so many senators and representatives have so much stock in oil means we will never get any bill to help the people passed, they will continually put holds on anything that might make it possible. Damn corruption. The judicial and executive branches both have laws stating that they must abstain from any court cases and bill making if a "conflict of interest" is present, it's a damn shame that congress never will have such a bill. The damn bill itself would have to be considered a "conflict of interest."
It is these "capitalists" that piss me off. Carnegie and Rockefeller must be rolling over in their graves at the thought of that proposition. Capitalism strives off of social responsibility and giving back to the consumer base. When customers no longer have a choice, they are no longer customers.
Could always try and force them to make better mass transit, that will be a true test of thier character. They have sound reason for the prices. Supply and Demand. They even say they invest the profits. However, if you ask them to spend the money building up the mass transit infrastructure, thier response will tell people if thier hearts are greedy.
how are oil executives guilty? can someone explain it to me please. i really thought india and china were now world players and are consuming lotsa oil. with no new rifineries built i see a bottleneck. a fight over the current supply. something is driving up these prices per barrel.
i still think its a hidden entity slowing the worlds growth. a planned puppeteering of our surroundings. the timing of the global climate change is suspicious to lend credence to my 'pelican brief'. but hopefully, at the same time it is spurning ingenuity from our species.
chips, dips chains & whips.
People who have to create conspiracy and hate threads to further a cause lacks in intellectual comprehension of diversity.
I saw an interesting bit on The History Channel, about the 2002 explosion at a British Petroleum refinery in Texas that supplied enough gasoline to temporarily raise our prices nationwide. I think that was around 1%-2% of our daily gasoline usage. It seems for all those profits British Petroleum was operating the refinery by disregarding the safety equipment, and, instead of upgrading to burn off excess fumes, just let them overflow into the yard. Seems someone parked a truck in the yard and left the engine running.....
Yea, poor oil companies, they have no responsibility to upgrade or build new refineries. That causes a shortage, complete with long gasoline lines. Just this week I had to wait a whole 10 seconds to pull up to the pump. Too bad I cannot fill up my tank at $4 a gallon, and must settle for buying the rationed amount on even/odd days. Some shortage.
Of course, that is all Clinton's fault. Damn liberals made it impossible to build new refineries during the 1990s when the Republicans controlled the Congress, and since 2000 when Bush entered the White House. Poor Republicans couldn't do anything to reduce the amount of regulation on the oil companies, right? Of course, they reduced the EPA, CDC, OSHA, and Consumer Products Safety Commission, just to name a few regulatory agencies, while increasing homeland security.
So, under supply and demand, who sets the prices? The poor oil companies are being told what to charge by whom? Since 2000, the price of bringing crude out of the ground has gone up astronomically, I'm sure. And those poor oil companies just don't have the money to build new refineries, or upgrade their old ones.
My liberal heart bleeds for them......
so why dont they build new refineries?
chips, dips chains & whips.
Because they are capitalist swines who take advantage of the proletariat ( is that a word?).
Sorry just couldn't resist. I dont have the energy to write anything deeper than that.
These opinions scare me...
I find it amazing that by 2020 first world countries will be competing to get immigrants.
E.U gas prices are cheap tooo
Quite a biased article. Seems both you and the person who wrote the article do not understand economics. Research before speaking out of your ass, OK?
Yes, oil companies have huge profits. Yes, they are record setting. Are the oil companies making a ton of money? No.
It's called profit margin. Currently oil company's profit margins are 5%. That means they earn $0.05/dollar in profits. Not very much for those big bad oil companies now, eh?
Quite a biased article. Seems both you and the person who wrote the article do not understand economics. Research before speaking out of your ass, OK?
Yes, oil companies have huge profits. Yes, they are record setting. Are the oil companies making a ton of money? No.
It's called profit margin. Currently oil company's profit margins are 5%. That means they earn $0.05/dollar in profits. Not very much for those big bad oil companies now, eh?
? I just posted the article, I didn't write it. No need to get defensive.
I gotz a 300,000 BTU WTFBBQ!
The problem is that the price of oil is due to market speculation and not the actual cost of producing it; if it were the bare bones of actually extracting it and not subject to opportunity cost you wouldn't have seen much of a price change.
This is a sequence of characters intended to produce some profound mental effect, but it has failed.
I saw an interesting bit on The History Channel, about the 2002 explosion at a British Petroleum refinery in Texas that supplied enough gasoline to temporarily raise our prices nationwide. I think that was around 1%-2% of our daily gasoline usage. It seems for all those profits British Petroleum was operating the refinery by disregarding the safety equipment, and, instead of upgrading to burn off excess fumes, just let them overflow into the yard. Seems someone parked a truck in the yard and left the engine running.....
Yea, poor oil companies, they have no responsibility to upgrade or build new refineries. That causes a shortage, complete with long gasoline lines. Just this week I had to wait a whole 10 seconds to pull up to the pump. Too bad I cannot fill up my tank at $4 a gallon, and must settle for buying the rationed amount on even/odd days. Some shortage.
Of course, that is all Clinton's fault. Damn liberals made it impossible to build new refineries during the 1990s when the Republicans controlled the Congress, and since 2000 when Bush entered the White House. Poor Republicans couldn't do anything to reduce the amount of regulation on the oil companies, right? Of course, they reduced the EPA, CDC, OSHA, and Consumer Products Safety Commission, just to name a few regulatory agencies, while increasing homeland security.
So, under supply and demand, who sets the prices? The poor oil companies are being told what to charge by whom? Since 2000, the price of bringing crude out of the ground has gone up astronomically, I'm sure. And those poor oil companies just don't have the money to build new refineries, or upgrade their old ones.
My liberal heart bleeds for them......
no. oil execs are not the enemy. they should not have been dragged before congress so democrat politicians can say look we're doing something. i remember paying $1.60 a gallon late 90's when the price per barrel was $20. since than, the price increased 6x. however, we are not paying ~$8 a gallon.
chips, dips chains & whips.
I saw an interesting bit on The History Channel, about the 2002 explosion at a British Petroleum refinery in Texas that supplied enough gasoline to temporarily raise our prices nationwide. I think that was around 1%-2% of our daily gasoline usage. It seems for all those profits British Petroleum was operating the refinery by disregarding the safety equipment, and, instead of upgrading to burn off excess fumes, just let them overflow into the yard. Seems someone parked a truck in the yard and left the engine running.....
Yea, poor oil companies, they have no responsibility to upgrade or build new refineries. That causes a shortage, complete with long gasoline lines. Just this week I had to wait a whole 10 seconds to pull up to the pump. Too bad I cannot fill up my tank at $4 a gallon, and must settle for buying the rationed amount on even/odd days. Some shortage.
Of course, that is all Clinton's fault. Damn liberals made it impossible to build new refineries during the 1990s when the Republicans controlled the Congress, and since 2000 when Bush entered the White House. Poor Republicans couldn't do anything to reduce the amount of regulation on the oil companies, right? Of course, they reduced the EPA, CDC, OSHA, and Consumer Products Safety Commission, just to name a few regulatory agencies, while increasing homeland security.
So, under supply and demand, who sets the prices? The poor oil companies are being told what to charge by whom? Since 2000, the price of bringing crude out of the ground has gone up astronomically, I'm sure. And those poor oil companies just don't have the money to build new refineries, or upgrade their old ones.
My liberal heart bleeds for them......
no. oil execs are not the enemy. they should not have been dragged before congress so democrat politicians can say look we're doing something. i remember paying $1.60 a gallon late 90's when the price per barrel was $20. since than, the price increased 6x. however, we are not paying ~$8 a gallon.
It is just political grandstanding by democrats. And the ignorant believe all this crap. The US need to do a much better job of teaching economics instead of people learning from The Daily Show. Anyone can look at company finacial statements and see what their profit margins are. Saying a company made billions tells you absolutely nothing. How much did they spend to make these billions? How much did they pay in tax? I would love if it was required to tell what their taxes were, every time someone talks about their profits.
http://cbs2chicago.com/politics/gas.prices.taxes.2.729939.html
how about them taxes in chicago nearly 20%? *democrat stronghold*
Illinois Sen. Dick Durbin complained to oil company bosses at a hearing on Capitol Hill about Chicago having the highest gasoline prices in the United States. Largely ignored was the role taxes are playing -- an astounding 10 levels of taxation.
"Does it trouble any of you when you see what you're doing to us?" Durbin asked.. *priceless*
The watchdog Civic Federation says that on a $4 gallon of gas, the total tax is 79.2 cents. That compares to 77 cents in Los Angeles and 65 cents in New York City.
"Every time the price of gas goes up, the tax goes up with it," said one motorist. *bottomless*
lets see. 14 gallons x 0.65=$9.10 in taxes everytime i fill up. i wonder if that new york city tax of .65 includes federal taxes...
chips, dips chains & whips.
The libs (democrates) already stated they wont build new refineries; because Leonardo DeCrapio said so. The newest one is like 30 to 40 years old.
People can get all pissed off at the oil execs all they want but if they ever saw the behind the scenes of what the democrates do about the oil, youd be even more flabbergasted.
People who have to create conspiracy and hate threads to further a cause lacks in intellectual comprehension of diversity.
The libs (democrates) already stated they wont build new refineries; because Leonardo DeCrapio said so. The newest one is like 30 to 40 years old.
People can get all pissed off at the oil execs all they want but if they ever saw the behind the scenes of what the democrates do about the oil, youd be even more flabbergasted.
Actually the main problem with Oil prices is caused by the liberal agenda and blamed on republicans. Like has been said. New Oil Refineries can't be built and we are using outdated and obsolete ones, we also can't drill in the highest oil sources in the world here in the United States because of environmental protection acts.
The ironic thing is, its less environmental to deny the construction of newer oil refineries. I think the best solution is to allow drilling in some parts that were originally protected under environment protection acts at the cost of stiffer regulations on drilling, as well as the construction of new refineries. That and putting a limit to Gas Taxes on local governments, as well as maybe a nation wide cap to the price gasoline can rise per gallon. In San Diego we have some of the most insane prices because all our oil comes from 1 source. Yet its kept in check because of a 10cents cap on the increase in price per week.
Edited out due to fact checker.
I know some people who are stuck in the past and will not agree, but Hydrogen is the only answer you all are looking for right now, not fossil fuels.
If someone could mass produce an efficient hydrogen generator that converted H2O into into hydrogen it's possible each home could be completely self sufficient, and you could even fill your vehicle every morning from your own generator. If I'm not mistaken I think it was the Dutch who have been working on a generator roughly the size of a refrigerator. It could one day be just another household appliance, that is once we get all the old farts out of office who are stopping progress with bullshit scare tactics. We need forward thinkers....OBAMA FOR THE WIN!!!!
BTW Toyota recently discovered they could squeeze 550 miles out single tank of Hydrogen in their Hydrogen powered Highlander SUV, good look getting that efficiency out of the V6 Highlander.
I gotz a 300,000 BTU WTFBBQ!
So, why is that?
The libs (democrates) already stated they wont build new refineries; because Leonardo DeCrapio said so. The newest one is like 30 to 40 years old.
People can get all pissed off at the oil execs all they want but if they ever saw the behind the scenes of what the democrates do about the oil, youd be even more flabbergasted.
lol, your udner the impression I am a republican. I am not. I am an independent. Democrates are just as corrupted as the worse republican. There is no difference between the two. But this much is true. Democrates do not want additional refineries and they do not want nuclear power.
People who have to create conspiracy and hate threads to further a cause lacks in intellectual comprehension of diversity.
yup. I saw footage of democrates pissing themselves because they were putting in the Alaskan Pipeline.
"Oh noes!!" They screamed! They thought putting a pipe line would disrupt the mating pattern of the elk. I swear to God...they really thought this.
Fast forward today. Elk population has been as plentiful as ever because the warm pipeland has been a source for Elks to settle down and mate without being in a harsh winter environment where survival is threatened.
But you know..we just have to shake our heads and wiggle our finger and say "you silly democrates! lol, let the adults handle this!"
People who have to create conspiracy and hate threads to further a cause lacks in intellectual comprehension of diversity.