Idiots in Congress investigating Oil Companies today

The idiots on Capital Hill (save for a slightly small amount of Republicans and Democrats who actually think sanely) are investigating Oil Companies on the charge of price gouging. With the national gas average in America currently at $3.80 per gallon in America, it's really easy to get emotionally attached to this issue and cry "Yeah, the Evil Big Oil is making us all suffer!" But, if you pull back the layers on this economic onion, you'll see some of the real reasons for the problem.

1. Environmentalists activists through things like "Global Climate Change" want to drastically slow the world economy. Google Bill Clinton's speach where he says "We need to slow the economy to save the planet from greenhouse gases".

2. American ingenuity is being stopped by special interest groups and the weak powers in Congress. We have argueably the worst Congress in recent American history, going off of current approval ratings.

3. We're not increasing world supply, and demand has elipsed it. The world's current oil production is around roughly 85 Million Barrels per Day. However, the demand stands around 87 Million Barrels. We're not creating enough resources, and environmentalists have a lot to do with this.

4. We're not getting the supplies we have here in America. The ANWR province in Alaska, the oil in Florida, Gulf of Mexico, Colorado and vast other states, along with our estimated 150 year Natural gas supplies, the Coal to Liquid projects, the fact that we haven't built a new refinery in 30 years and a new nuclear plant in that long as well...they all contribute to our dependency on outside energy sources.

5. Oil future predictions jumped $9 per barrel while we were sleeping last night. T Boone Pickens (practically the Warren Buffett of Oil) recently predicted $200 per barrel prices. This problem cannot be swept under the rug people.

You want 10 bucks a gallon at the pump and heating oil above levels many American familes cannot afford? Continue to let environmentalists and special interest groups stop American ingenuity. I urge you to do some research yourself and form YOUR OWN OPINIONS rather then just flame me in this threat. Everything I stated can be looked up and documented. Thanks.

The idiots on Capital Hill (save for a slightly small amount of Republicans and Democrats who actually think sanely) are investigating Oil Companies on the charge of price gouging. With the national gas average in America currently at $3.80 per gallon in America, it's really easy to get emotionally attached to this issue and cry "Yeah, the Evil Big Oil is making us all suffer!" But, if you pull back the layers on this economic onion, you'll see some of the real reasons for the problem.

1. Environmentalists activists through things like "Global Climate Change" want to drastically slow the world economy. Google Bill Clinton's speach where he says "We need to slow the economy to save the planet from greenhouse gases".

2. American ingenuity is being stopped by special interest groups and the weak powers in Congress. We have argueably the worst Congress in recent American history, going off of current approval ratings.

3. We're not increasing world supply, and demand has elipsed it. The world's current oil production is around roughly 85 Million Barrels per Day. However, the demand stands around 87 Million Barrels. We're not creating enough resources, and environmentalists have a lot to do with this.

4. We're not getting the supplies we have here in America. The ANWR province in Alaska, the oil in Florida, Gulf of Mexico, Colorado and vast other states, along with our estimated 150 year Natural gas supplies, the Coal to Liquid projects, the fact that we haven't built a new refinery in 30 years and a new nuclear plant in that long as well...they all contribute to our dependency on outside energy sources.

5. Oil future predictions jumped $9 per barrel while we were sleeping last night. T Boone Pickens (practically the Warren Buffett of Oil) recently predicted $200 per barrel prices. This problem cannot be swept under the rug people.

You want 10 bucks a gallon at the pump and heating oil above levels many American familes cannot afford? Continue to let environmentalists and special interest groups stop American ingenuity. I urge you to do some research yourself and form YOUR OWN OPINIONS rather then just flame me in this threat. Everything I stated can be looked up and documented. Thanks.

MarineJcksn

I don't understand what you tryin' to learn me. All I see is a market that makes WAY too much money cuz they got a clear monopoly

We need to face it. We need to cut back on our demand for oil and buy more fuel efficient autos. Even if gas prices don't bother you, it would be the best thing to do.pseudodog07

We need to face it. We need to cut back on our demand for oil and buy more fuel efficient autos. Even if gas prices don't bother you, it would be the best thing to do.pseudodog07

Thats the only way to do it. Prices are only going to increase more as oil reserves run out.

How come they continue to experience record profits then, year after year? Also, they spend tens of millions of dollars EACH year on lobbyists as well.Engrish_Major

Record profits? They make a lower profit margin than the US average...

The environmentalists are to blame for parts of the increase in the oil price all around the world... but that doesn't mean that what they're doing is evil.

The world might be better off in ten years if we just forgot about the greenhouse gases and started burning oil like crazy, but what about 50 years?

The only grudge I have against environmentalist is their resistance to building nuclear plants.

Im hoping that the Carlyle Group an Bush get sent to Prison an a22raped by bubba all the time ....:)morriseey

WHAT??? What are you talking about??

[QUOTE="Engrish_Major"]How come they continue to experience record profits then, year after year? Also, they spend tens of millions of dollars EACH year on lobbyists as well.LukeAF24

Record profits? They make a lower profit margin than the US average...

Lower than some select industries (the pharmaceutical industry is certainly no angel either) but not most industries, according to this and this.

[QUOTE="ferrari2001"]Yea.. it is getting pretty frakin rediculous. We really need to build lots of nuclear, hyroelectic, wind, and solar, power plants so we can use natural fuels specifically for heating and vehicles. We also need to start drilling some of our own oil. Screw enviromentalists. Give me a shot gun and a truck bed full of shells It won't be a problem.. (No I won't commit murder I'll just scare them and they'll all run away.)DrCoCoPiMp

Yeah lets get richer and richer and richer and richer and richer no matter the price. and while you'll scare those enviros I'll piss on your face and I'll be sure to keep a little brown piece for your mouth to

Hey most family like yours don't live in frekin mansions and can pitch out $200 a week for Gasoline and heating.. It's just to frekin expensive but you are welcome to mail me a check for $200 every week then I'll just ignore the fact that gas is going to be $4 a gallon in about 2 weeks.

Yea.. it is getting pretty frakin rediculous. We really need to build lots of nuclear, hyroelectic, wind, and solar, power plants so we can use natural fuels specifically for heating and vehicles. We also need to start drilling some of our own oil. Screw enviromentalists. Give me a shot gun and a truck bed full of shells It won't be a problem.. (No I won't commit murder I'll just scare them and they'll all run away.)ferrari2001

The change over to renewable power and other energy sources would cost the US trillions of dollars and decades to complete. Money that isn't there. Check the US national and external debt.

Environmentalists should encourage us to use as much oil as possible. That way it will run out quicker and force us to develop alternative fuel sources.

Necessity is the mother of invention.

i agree with the fact that this is just a show for the american public "look, we're congress, we're fighting for the little guy.. lets harass the big bad meany oil companies!"

people like to drive cars that get 10 miles per gallon then cry about it when it become un-affordable.. the job of the oil exec's, like ANY OTHER COORPORATION, is ultimately to provide value to shareholders. which they do. companies like exxon make like $0.05 a gallon actual profit on the gas they sell to you . why are they raking in billion of dollars of profit? because people are buying billions and billions of gallons of thier product. google makes twice as much profit as a percentage of revenue than do oil companies.. is google price gouging? should larry page and sergi brin appear before congress?

if you have a problem with the price of fuel, STOP BUYING IT. car pool to work, get a smaller car, ride a freaking bike, take the bus, dont buy a home 100 miles away from where you work, work from home, etc. there are solutions. if people are willing to make the changes necessary, prices will drop naturally. but all we like to do is point fingers rather than change our habits. sadly it's becoming a sick habit in this country to point fingers and lay blame on any and all except ourselves.

drilling in the arctic national wildlife refuge would be a similar drop in the bucket type move as stopping the filling of the stragic oil reserves. we're not going to become oil independant with moves like that.. there's just not enough oil there to make a difference.

I agree with you for once TC that there is alot more blame to go around than just blaming the oil companies.

My thing is I am guessing those companies are doing everything in their power to try and hold back other energy alternatives in order to keep the demand on them. Something should be down in order to help speed up the developement of alternative energy sources.

For those talking about getting hybrids and such, they are still more expensive than normal gas cars even after dealing with gas prices.....

I just can't wait till those air cars come out here in the US next year!!! I will take the safety risk to help save money and the environment!!!! I remember seeing the price for one of the air cars new was a mere $2,500 dollars which is just AMAZING!!!

[QUOTE="ferrari2001"]Yea.. it is getting pretty frakin rediculous. We really need to build lots of nuclear, hyroelectic, wind, and solar, power plants so we can use natural fuels specifically for heating and vehicles. We also need to start drilling some of our own oil. Screw enviromentalists. Give me a shot gun and a truck bed full of shells It won't be a problem.. (No I won't commit murder I'll just scare them and they'll all run away.)Hoobinator

The change over to renewable power and other energy sources would cost the US trillions of dollars and decades to complete. Money that isn't there. Check the US national and external debt.

thats true but we need to at least start... We need to build some nuclear powerplants, while shutting down some oil and gas plants. Sure it's expensive and it will take a while but we've got to start somewhere.

Lower than some select industries (Pharma is to blame too for current problems) but not most industries, according to these:

http://everydayecon.wordpress.com/2006/04/26/oil-profit-margins-vs-other-industries/

http://www.usnews.com/articles/business/economy/2008/02/01/exxons-profits-measuring-a-record-windfall.html

Engrish_Major

That pretty much proves my point. Considering most of them made 7% last year, they are most along the lines of "all other industry" in your first link.

The point I was making is that, using the complaint of "record profits" doesn't hold much weight.

[QUOTE="ferrari2001"]Yea.. it is getting pretty frakin rediculous. We really need to build lots of nuclear, hyroelectic, wind, and solar, power plants so we can use natural fuels specifically for heating and vehicles. We also need to start drilling some of our own oil. Screw enviromentalists. Give me a shot gun and a truck bed full of shells It won't be a problem.. (No I won't commit murder I'll just scare them and they'll all run away.)Hoobinator

The change over to renewable power and other energy sources would cost the US trillions of dollars and decades to complete. Money that isn't there. Check the US national and external debt.

yeah. we got important wars to pay for....

Ferrari2001 = nasty lil fast car ..the irony of you in this thread ...lol

google "Carlyle group /Bush",.... get educated ;)

[QUOTE="Engrish_Major"]

Lower than some select industries (Pharma is to blame too for current problems) but not most industries, according to these:

http://everydayecon.wordpress.com/2006/04/26/oil-profit-margins-vs-other-industries/

http://www.usnews.com/articles/business/economy/2008/02/01/exxons-profits-measuring-a-record-windfall.html

LukeAF24

That pretty much proves my point. Considering most of them made 7% last year, they are most along the lines of "all other industry" in your first link.

The point I was making is that, using the complaint of "record profits" doesn't hold much weight.

No? What are they doing with billions and billions of dollars? That doesn't hold much weight? The point is that they are dragging their feet when it comes to innovation. BP spends the most on renewable energy research out of all of them, and they still only spend 4.5% of their profits!

[QUOTE="Hoobinator"]

[QUOTE="ferrari2001"]Yea.. it is getting pretty frakin rediculous. We really need to build lots of nuclear, hyroelectic, wind, and solar, power plants so we can use natural fuels specifically for heating and vehicles. We also need to start drilling some of our own oil. Screw enviromentalists. Give me a shot gun and a truck bed full of shells It won't be a problem.. (No I won't commit murder I'll just scare them and they'll all run away.)comp_atkins

The change over to renewable power and other energy sources would cost the US trillions of dollars and decades to complete. Money that isn't there. Check the US national and external debt.

yeah. we got important wars to pay for....

Those wars are bankrupting you. But carry on paying for them. ;)

David Walker, google him.

[QUOTE="LukeAF24"][QUOTE="Engrish_Major"]

Lower than some select industries (Pharma is to blame too for current problems) but not most industries, according to these:

http://everydayecon.wordpress.com/2006/04/26/oil-profit-margins-vs-other-industries/

http://www.usnews.com/articles/business/economy/2008/02/01/exxons-profits-measuring-a-record-windfall.html

Engrish_Major

That pretty much proves my point. Considering most of them made 7% last year, they are most along the lines of "all other industry" in your first link.

The point I was making is that, using the complaint of "record profits" doesn't hold much weight.

No? What are they doing with billions and billions of dollars? That doesn't hold much weight? The point is that they are dragging their feet when it comes to innovation. BP spends the most on renewable energy research out of all of them, and they still only spend 4.5% of their profits!

what kind of communist statement is that???? you want the govenrment to tell coorporations what they have to to do with thier profits???? thats a VERY slippery slope you're getting onto there..

i agree with the fact that this is just a show for the american public "look, we're congress, we're fighting for the little guy.. lets harass the big bad meany oil companies!"

people like to drive cars that get 10 miles per gallon then cry about it when it become un-affordable.. the job of the oil exec's, like ANY OTHER COORPORATION, is ultimately to provide value to shareholders. which they do. companies like exxon make like $0.05 a gallon actual profit on the gas they sell to you . why are they raking in billion of dollars of profit? because people are buying billions and billions of gallons of thier product. google makes twice as much profit as a percentage of revenue than do oil companies.. is google price gouging? should larry page and sergi brin appear before congress?

if you have a problem with the price of fuel, STOP BUYING IT. car pool to work, get a smaller car, ride a freaking bike, take the bus, dont buy a home 100 miles away from where you work, work from home, etc. there are solutions. if people are willing to make the changes necessary, prices will drop naturally. but all we like to do is point fingers rather than change our habits. sadly it's becoming a sick habit in this country to point fingers and lay blame on any and all except ourselves.

drilling in the arctic national wildlife refuge would be a similar drop in the bucket type move as stopping the filling of the stragic oil reserves. we're not going to become oil independant with moves like that.. there's just not enough oil there to make a difference.

comp_atkins

Also you have to admit that it's strange for oil profits to be of the charts at a time like this....

[QUOTE="Engrish_Major"]

No? What are they doing with billions and billions of dollars? That doesn't hold much weight? The point is that they are dragging their feet when it comes to innovation. BP spends the most on renewable energy research out of all of them, and they still only spend 4.5% of their profits!

comp_atkins

what kind of communist statement is that???? you want the govenrment to tell coorporations what they have to to do with thier profits???? thats a VERY slippery slope you're getting onto there..

Some people favor capitalism, only when it favors them.

what kind of communist statement is that???? you want the govenrment to tell coorporations what they have to to do with thier profits???? thats a VERY slippery slope you're getting onto there..

comp_atkins

When they have a complete stranglehold over every facet of the economy, yes, the government should tell them what to do with their profits.

[QUOTE="DrCoCoPiMp"]

[QUOTE="ferrari2001"]Yea.. it is getting pretty frakin rediculous. We really need to build lots of nuclear, hyroelectic, wind, and solar, power plants so we can use natural fuels specifically for heating and vehicles. We also need to start drilling some of our own oil. Screw enviromentalists. Give me a shot gun and a truck bed full of shells It won't be a problem.. (No I won't commit murder I'll just scare them and they'll all run away.)ferrari2001

Yeah lets get richer and richer and richer and richer and richer no matter the price. and while you'll scare those enviros I'll piss on your face and I'll be sure to keep a little brown piece for your mouth to

Hey most family like yours don't live in frekin mansions and can pitch out $200 a week for Gasoline and heating.. It's just to frekin expensive but you are welcome to mail me a check for $200 every week then I'll just ignore the fact that gas is going to be $4 a gallon in about 2 weeks.

stop whining and do sumthing then. these guys wont stop, they making money, and more they got more they want. and lulz its not the government whos gonna stop them cuz they PAY THE FREAKING GOVT.

what kind of communist statement is that???? you want the govenrment to tell coorporations what they have to to do with thier profits???? thats a VERY slippery slope you're getting onto there..

comp_atkins

WTF!!! Have I just time travelled back to the 1950's or something? :lol: Seriously, everytime you call someone a communist you make yourself look like an idiot. Debate on a courteous and agreeable level don't resort to name calling.

Oh and government intervention in private markets happens all the time. It is called regulation. Recently the US government had to step in to bail Bear Steans out in the Financial market. They provided them with public funds. Public funds paying to bail private banks out. :lol:

[QUOTE="comp_atkins"]

i agree with the fact that this is just a show for the american public "look, we're congress, we're fighting for the little guy.. lets harass the big bad meany oil companies!"

people like to drive cars that get 10 miles per gallon then cry about it when it become un-affordable.. the job of the oil exec's, like ANY OTHER COORPORATION, is ultimately to provide value to shareholders. which they do. companies like exxon make like $0.05 a gallon actual profit on the gas they sell to you . why are they raking in billion of dollars of profit? because people are buying billions and billions of gallons of thier product. google makes twice as much profit as a percentage of revenue than do oil companies.. is google price gouging? should larry page and sergi brin appear before congress?

if you have a problem with the price of fuel, STOP BUYING IT. car pool to work, get a smaller car, ride a freaking bike, take the bus, dont buy a home 100 miles away from where you work, work from home, etc. there are solutions. if people are willing to make the changes necessary, prices will drop naturally. but all we like to do is point fingers rather than change our habits. sadly it's becoming a sick habit in this country to point fingers and lay blame on any and all except ourselves.

drilling in the arctic national wildlife refuge would be a similar drop in the bucket type move as stopping the filling of the stragic oil reserves. we're not going to become oil independant with moves like that.. there's just not enough oil there to make a difference.

killtactics

Also you have to admit that it's strange for oil profits to be of the charts at a time like this....

can you please show me a chart that shows both profits, revenue, AND amount of product sold. there has been a massive increase in demand globally for their products. look at china, india, russia etc.. these countries are growing quickly and that growing is fueling more and more demand. THEY SELL MORE OIL SO THEY MAKE MORE PROFIT. have thier actual profit margins increased dramatically?

[QUOTE="comp_atkins"]

what kind of communist statement is that???? you want the govenrment to tell coorporations what they have to to do with thier profits???? thats a VERY slippery slope you're getting onto there..

Hoobinator

WTF!!! Have I just time travelled back to the 1950's or something? :lol: Seriously, everytime you call someone a communist you make yourself look like an idiot. Debate on a courteous and agreeable level don't resort to name calling.

Oh and government intervention in private markets happens all the time. It is called regulation. Recently the US government had to step in to bail Bear Steans out in the Financial market. They provided them with public funds. Public funds paying to bail private banks out. :lol:

i know.. and it was complete bs. bear stears makes terrible investment decisions, they epic fail. and the gov't saves them? absurd. if the government wants to be in the oil business, then lets have state run oil companies like Venezuela.

[QUOTE="killtactics"][QUOTE="comp_atkins"]

i agree with the fact that this is just a show for the american public "look, we're congress, we're fighting for the little guy.. lets harass the big bad meany oil companies!"

people like to drive cars that get 10 miles per gallon then cry about it when it become un-affordable.. the job of the oil exec's, like ANY OTHER COORPORATION, is ultimately to provide value to shareholders. which they do. companies like exxon make like $0.05 a gallon actual profit on the gas they sell to you . why are they raking in billion of dollars of profit? because people are buying billions and billions of gallons of thier product. google makes twice as much profit as a percentage of revenue than do oil companies.. is google price gouging? should larry page and sergi brin appear before congress?

if you have a problem with the price of fuel, STOP BUYING IT. car pool to work, get a smaller car, ride a freaking bike, take the bus, dont buy a home 100 miles away from where you work, work from home, etc. there are solutions. if people are willing to make the changes necessary, prices will drop naturally. but all we like to do is point fingers rather than change our habits. sadly it's becoming a sick habit in this country to point fingers and lay blame on any and all except ourselves.

drilling in the arctic national wildlife refuge would be a similar drop in the bucket type move as stopping the filling of the stragic oil reserves. we're not going to become oil independant with moves like that.. there's just not enough oil there to make a difference.

comp_atkins

Also you have to admit that it's strange for oil profits to be of the charts at a time like this....

can you please show me a chart that shows both profits, revenue, AND amount of product sold. there has been a massive increase in demand globally for their products. look at china, india, russia etc.. these countries are growing quickly and that growing is fueling more and more demand. THEY SELL MORE OIL SO THEY MAKE MORE PROFIT. have thier actual profit margins increased dramatically?

[QUOTE="Hoobinator"][QUOTE="comp_atkins"]

what kind of communist statement is that???? you want the govenrment to tell coorporations what they have to to do with thier profits???? thats a VERY slippery slope you're getting onto there..

comp_atkins

WTF!!! Have I just time travelled back to the 1950's or something? :lol: Seriously, everytime you call someone a communist you make yourself look like an idiot. Debate on a courteous and agreeable level don't resort to name calling.

Oh and government intervention in private markets happens all the time. It is called regulation. Recently the US government had to step in to bail Bear Steans out in the Financial market. They provided them with public funds. Public funds paying to bail private banks out. :lol:

i know.. and it was complete bs. bear stears makes terrible investment decisions, they epic fail. and the gov't saves them? absurd. if the government wants to be in the oil business, then lets have state run oil companies like Venezuela.

Like he said, it's called regulation, and it has been done since the industrial revolution, and is not "communist". It's the opposite of a bailout.

[QUOTE="ferrari2001"][QUOTE="DrCoCoPiMp"]

[QUOTE="ferrari2001"]Yea.. it is getting pretty frakin rediculous. We really need to build lots of nuclear, hyroelectic, wind, and solar, power plants so we can use natural fuels specifically for heating and vehicles. We also need to start drilling some of our own oil. Screw enviromentalists. Give me a shot gun and a truck bed full of shells It won't be a problem.. (No I won't commit murder I'll just scare them and they'll all run away.)DrCoCoPiMp

Yeah lets get richer and richer and richer and richer and richer no matter the price. and while you'll scare those enviros I'll piss on your face and I'll be sure to keep a little brown piece for your mouth to

Hey most family like yours don't live in frekin mansions and can pitch out $200 a week for Gasoline and heating.. It's just to frekin expensive but you are welcome to mail me a check for $200 every week then I'll just ignore the fact that gas is going to be $4 a gallon in about 2 weeks.

stop whining and do sumthing then. these guys wont stop, they making money, and more they got more they want. and lulz its not the government whos gonna stop them cuz they PAY THE FREAKING GOVT.

I'm trying to think for more than the 5% of American like yourself who can support paying4$ per gallon. You shold try and start caring about people outside your yacht club for a change.

You think the oil companies are innocent? Prices by competitors are relatively close if not the same. In addition, they've been making record profits. Price gouging is not unthinkable.:|

[QUOTE="comp_atkins"][QUOTE="killtactics"][QUOTE="comp_atkins"]

i agree with the fact that this is just a show for the american public "look, we're congress, we're fighting for the little guy.. lets harass the big bad meany oil companies!"

people like to drive cars that get 10 miles per gallon then cry about it when it become un-affordable.. the job of the oil exec's, like ANY OTHER COORPORATION, is ultimately to provide value to shareholders. which they do. companies like exxon make like $0.05 a gallon actual profit on the gas they sell to you . why are they raking in billion of dollars of profit? because people are buying billions and billions of gallons of thier product. google makes twice as much profit as a percentage of revenue than do oil companies.. is google price gouging? should larry page and sergi brin appear before congress?

if you have a problem with the price of fuel, STOP BUYING IT. car pool to work, get a smaller car, ride a freaking bike, take the bus, dont buy a home 100 miles away from where you work, work from home, etc. there are solutions. if people are willing to make the changes necessary, prices will drop naturally. but all we like to do is point fingers rather than change our habits. sadly it's becoming a sick habit in this country to point fingers and lay blame on any and all except ourselves.

drilling in the arctic national wildlife refuge would be a similar drop in the bucket type move as stopping the filling of the stragic oil reserves. we're not going to become oil independant with moves like that.. there's just not enough oil there to make a difference.

killtactics

Also you have to admit that it's strange for oil profits to be of the charts at a time like this....

can you please show me a chart that shows both profits, revenue, AND amount of product sold. there has been a massive increase in demand globally for their products. look at china, india, russia etc.. these countries are growing quickly and that growing is fueling more and more demand. THEY SELL MORE OIL SO THEY MAKE MORE PROFIT. have thier actual profit margins increased dramatically?

of course they have the right. but nothing will come of it imo. to me it appears simply as a chance for members of congress to appear to care about people legitimately hurting from higher oil prices more for their own political benefit than for their constitutes. maybe i'm too cynical :)

Yep, all of those are the reasons oil compay execs (and the oil industry is one of the most collusive industries there is, whether you want to live in denial about that or not) are making record amounts of money.

Don't you ever get tired of endlessly making all of these right-wing posts, seriously? What do you do, like come here and post after you turn off your talk radio show or what?

Honestly though, I would think environmentalists would be happy about gas being so expensive, since it discourages people from using as much of it.

[QUOTE="LukeAF24"][QUOTE="Engrish_Major"]

Lower than some select industries (Pharma is to blame too for current problems) but not most industries, according to these:

http://everydayecon.wordpress.com/2006/04/26/oil-profit-margins-vs-other-industries/

http://www.usnews.com/articles/business/economy/2008/02/01/exxons-profits-measuring-a-record-windfall.html

Engrish_Major

That pretty much proves my point. Considering most of them made 7% last year, they are most along the lines of "all other industry" in your first link.

The point I was making is that, using the complaint of "record profits" doesn't hold much weight.

No? What are they doing with billions and billions of dollars? That doesn't hold much weight? The point is that they are dragging their feet when it comes to innovation. BP spends the most on renewable energy research out of all of them, and they still only spend 4.5% of their profits!

I respect this opinion, however Engrish I feel your information has been slightly skewed to only show the "evil, corporate greed" side. Think about it logically for a moment. Eventually, in the course of human innovation and new invention the world WILL get off of oil as a largely primary energy source. Wouldn't a company like Exxon Mobile, or BP or Chevron WITH THE INTERESTS OF CAPITALISM IN MIND want to fundamentally be a main source for these new alternative energy solutions? Corporations exist to make money, period. So to logically think that the heads of these companies would want to drag their feet and not invest in the possible Trillions of dollars of this capital in the very near future just doesn't resonate with my way of thinking.

we need to drill for more of our own oil in alaska and other places and build more refineries. that would help.shoeman12

I'd much rather the development of alternative fuel.

Yep, all of those are the reasons oil compay execs (and the oil industry is one of the most collusive industries there is, whether you want to live in denial about that or not) are making record amounts of money.

Don't you ever get tired of endlessly making all of these right-wing posts, seriously? What do you do, like come here and post after you turn off your talk radio show or what?

Honestly though, I would think environmentalists would be happy about gas being so expensive, since it discourages people from using as much of it.

SpaceMoose

It's so easy to label people who don't believe what you believe, rather then respectfully listening to their arguement and responding in a passionate manner. I don't believe I am a right-winger, I don't identify with the Republican or Democratic parties in this country. I think the majority of our government along with Americans have lost sight of the big picture. I identify largely with Libertarian principles and believe as little government as possible without resulting in total anarchy is all the government needed in our personal lives. I'm an adult and expect to be treated as one. I'm so sick and tired of spend-happy government officials putting me, you, and every taxpayer in America on the hook for billions of dollars in big bloated programs we didn't ask for in the first place.