Exxon caught red handed raping the public!!!!!!

[john3976]

How much is enough Exxon? How much money is enough?



Now we know why we are having to pay so much at the pump, I guess the Big Oil defenders lose this one!



http://abcnews.go.com/GMA/story?id=1841989&page=1



400 million to one Big Oil executive, thats right sports fans ONE BIG OIL EXECUTIVE. :--) :--) :--) :--) :--) :--) :--)

 

[E7mack96]

No one deserves that much money... . NO ONE!

 

[mschoenheider]

I guess you should become an oil executive, or better yet start your own oil refinery. Or wait, even better still, sit around, and complain about it.

 

[john3976]

That is one of the problems with business these days, paying the top guys outrageous amounts of money that could have been better spent on the company and lower prices to the public.



You are correct no one man or woman deserves that kind of money.



And just think he is just one of many in that one company making those huge sums of money, take away all of the outrageous money these guys are making and prices would fall a good dollar to dollar fifty a gallon over night.



I bet Exxon alone is paying its top people well over a billion dollars a year.



Exxon got caught but nothing will happen, Exxon will just rub our noses in it and laugh all the way to bank as they raise prices even more.

 

[john3976]

I guess you should become an oil executive, or better yet start your own oil refinery. Or wait, even better still, sit around, and complain about it.

It is your outlook that allows big oil and big business to get away with this kind of stuff, they are slowly tearing America apart and you just sit there and cheer them on.



I ask you how much money is enough?



one million? five million? 25 million? 400 million? how about an even one billion? would that make you happy?

 

[JHerr]

Hey, look on the bright side. The US Government gets a huge chunk of that figure in taxes! Do they deserve it?

 

[mschoenheider]

That's funny John, I thought capitalism was what this country was all about, not what was "tearing it apart".



Do I cheer them on, no. Do I do nothing and complain about them? Also no.



The large profits they are making will attract other companies to enter the refining business. Which will lead to lower prices.



"Prices would fall a good dollar fifty a gallon overnight" - Are you serious? Do you really think that over half of the price you pay at the pump goes to compensate the senior management?

 

[therabbittree]

man its free enterprise. . More power to him to make that much $. . Look how much $ it costs to drill and explore and make the gas or fuel oil . . way, way expensive. . I agree the top managment salaries are way way up there. . buts its a free market. We can always buy from another company if we don't like it... or start our own one. If we start controlling profits we might as well get a communist card and sign on the dotted line. We are free republic . not a socialist country.

Deo

 

[Regcabguy]

man its free enterprise. . More power to him to make that much $. . Look how much $ it costs to drill and explore and make the gas or fuel oil . . way, way expensive. . I agree the top managment salaries are way way up there. . buts its a free market. We can always buy from another company if we don't like it... or start our own one. If we start controlling profits we might as well get a communist card and sign on the dotted line. We are free republic . not a socialist country.

Deo

I think American companies are unique in the amount of compensation they award their executives. I know of no other country that awards their top dogs this amount of buckaroos and then passes it on to the comsumer as "cost of doing business". Shameful!!!!

 

[john3976]

I wonder how quick the supporters of BIG oil and the so called free enterprise system would support it if they went to the local supermarket and what last week cost them $100 from now on cost them $300 dollars, after all its just free enterprise.



Some people just don't get it.



No one is saying the the guy in charge of running the company should not make the most money, but when the guy at the top keeps moving jobs out of this country and taking away benefits then there is a problem.



I notice that the top guys all have not only obscene income levels but they also have full free benefits most of them for life.



Yet the little guy who really makes the company run is losing everything so the fat cat in the directors chair can live high on the hog.



Just think if you went to the market and a gallon of milk jumped up in price to 8 dollars a gallon and a loaf of bread was all of the sudden 6. 50 a loaf. What if the farmers decided to retire in the same life style as these fat cats in the corporate world, you would not be able to buy your food any more due to the high cost.



Yet you sit by and shrug your shoulders at big oil and do nothing but say its a free market, a free market does not give any company the right to rape customers.



The problem with big oil is they know we have to have gas and there is no choice but to pay their ransom for each tank.



I already won't do business with some stations and brands, but there is not anything further I alone can do, it is going to take all of America raising up together to bring things back under control.

 

[john3976]

One other thing, Exxon made 36 billion dollars in profit last year, that is a record for business.



Remember that was Exxon's profit for the year, that is after all expenses have been paid, including all costs for R&D.



This is 36 billion left over after paying for everything.



No one is saying that company's should not be allowed to make a profit as long as that profit is fair and reasonable.



I am sorry but 36 billion is not fair or reasonable.



Has any one heard of Exxon building any new plants to refine fuel with this obscene 36 billion dollars in profit?



Exxon has no intentions of adding to their ability to produce more refined fuel products as that would cut down on those profits, after all Exxon has to break all of last years record profit numbers and in quarter one 2006 I bet they start off with yet another record quarter of profits that makes last years records pale when compared.



Big oil executives should be brought up on criminal charges for their mismanagement of these obscene profits that have done nothing but cost every day Americans more money out of their pocket for a product that is in no way improved or better then in years past.

 

[JoshPeters]

So if you owned a business that made a good ammount of money each and every day you would want to be penalized? You would WANT to be limited on the ammount of money you can make. This is the American dream here. No one says they HAVE to do anything with their profits! It's their money!



Ransom, tough words, but sure. What keeps the price of Milk down? What keeps the price of Bread down? Competition. The oil companies don't have much for competition. If one of you guys that doesn't want to make any money opens an oil company and starts selling it for WAY cheaper than everyone else, guess what... they'll drop too!



It's the free enterprise system. Don't like it, buy a bicycle. Sell your truck and buy an electric car. You are speaking AGAINST exactly what this country was founded for. Freedom to buy, sell and barter at what ever you set YOUR cost at.



How about this one... There are 3 gas stations in my area that have been SHUT DOWN due to selling gas "to low. " There is a minimum that they can sell for. Guess who sets the price... (hint: it's not the oil company or the gas station)





Josh

 

[JHerr]

Oil has been our energy source of choice for the last 100 years, before oil it was coal, before that, wood. If we all would be smart, we'd be investing in "the next big thing".



What is the next big thing? I don't know... and neither does anybody else. The free market will decide.

 

[JHerr]

Seriously John, I know where you are coming from. I can't fathom that kind of money. That amount of compensation would make me angry... if I owned ExxonMobil stock.



If I own the stock, then I am that clown's boss. I don't own ExxonMobil stock, so I can't get too upset. The stockholders are the folks who should be furious. But, they probable aren't that upset, ExxonMobil stock went up 16-cents today and has been climbing for the last couple of years.



If I was really angry as a consumer, I could go to the local BP instead of my local Mobil station to teach "The Man" a lesson. Better yet, I'd find a way to power my Ram on soybean oil which is a renewable resource, grown by the American farmer.

 

[PKitzman]

What Josh said is true.



Think of it this way... if Exxon could snap their fingers and drop $5 billion dollars and have a refinery up and running tomorrow they would do it. The profit margins are obviously huge right NOW and extra refining capacity means extra profits PERIOD. The problem is that with the current high demand for fuel there will likely be a serious drop in demand in the next five to ten years. If you don't believe that, look back to the 70's (or whenever the last big gas crisis was... before my time).



Everybody and their brother is scratching and clawing to save a drop of gas right now and will continue to do so as long as the prices are high. The problem is that trying to save fuel on a car that gets 20 mpg doesn't get you very far. The solution is to buy a car that gets 40 - 60 mpg. The number of cars that get good fuel economy on the road are pretty few but take a look five or ten years down the road and what do you see? If you swap out all the gas guzzlers on the road right now with vehicles that get TWICE the fuel economy what does that do to gas prices?



This gets me back to Exxon. If they started building that multibillion dollar refinery right now, it will not produce a drop of fuel for several years (permits, design, construction, startup, etc... ). By the time it is in production the demand for fuel could be much lower.



There isn't much You or I can do about Exxon. What we can do is try your best not to consume any more fuel than you absolutely have to and do whatever you can to use and promote bio-fuels. Also do what you can to promote higher standards for new car fuel efficiency.



Sorry for the long rant, but I hate seeing guys crying about the refineries making a little money.



If you were a cattle rancher and some crazy disease killed 90% of the cattle around the world would you continue to sell your cattle for $1. 5/lb or would you raise your price to $10/lb if that is what the market was WILLING and able to pay?



There is a book out called The Oil End Game that is really interesting. It has a lot of BS in it but a lot of it is very true. Email me if any of you would like a PDF copy.

 

[john3976]

I have question for the big oil supporters, when was the last time you ever heard of a big oil company losing money in year?



I will let the big oil supporters dig up the info on that one. now how many years did they lose money?



Now take all the years of profit and then deduct the few years if any that they lost money. Hum, I bet the profit is still very healthy.



To answer the earn as much as you can and screw the consumer crowd, I again say how much is enough, how much money is enough?

 

[john3976]

Seriously John, I know where you are coming from. I can't fathom that kind of money. That amount of compensation would make me angry... if I owned ExxonMobil stock.



If I own the stock, then I am that clown's boss. I don't own ExxonMobil stock, so I can't get too upset. The stockholders are the folks who should be furious. But, they probable aren't that upset, ExxonMobil stock went up 16-cents today and has been climbing for the last couple of years. QUOTE]



I guess even the stock holders are upset with Exxon:



Some Exxon shareholders are now trying to pass resolutions criticizing the company's executive pay policies. The company is urging other shareholders to vote against those resolutions.

 

[PKitzman]

John,



If you had a million dollars of Exxon stock for the last couple years would you really be mad at the CEO of Exxon for ALSO getting rich. I personally would not be to upset about it. Apparently the guy has made some good decisions for Exxon or they wouldn't be quite so profitable.



I would be pretty ****** off at the CEO that gets a big payoff/retirement from a company that is loosing money.



I also don't want to be labeled as a "Big Oil" supporter. Nothing could be further from the truth. I just realize how supply and demand works and know that sky high gas prices are allowing them huge profits in the short term, but 10 years down the road things will be very different. I have a buddy who works at a Valero refinery and asked him if they had any interest in producing biodiesel. They don't want anything to do with it... I almost believe they are afraid of it.



I would invest my money in the companys that are starting up these biodiesel plants all over the world.

 

[john3976]

I have one for you, since those in this thread say its OK for big oil to profit at such high levels.



I bet not one of you paid list price for your truck, in fact you demanded a price much below list price, and to further that each of you complain about the high cost of dealer service and parts.



Yet you cheer on big oil and their record profits.



I don't ever remember the auto company's ever earning 36 billion in one year in fact about the most I have ever seen them earn is about 5 billion in one year.



So if you are truly a supporter of this free market system then quit trying to low ball the dealers on price when you buy a vehicle.



There is a lot competition in the oil business, you have BP, Shell, Exxon, Chevron, and many others, yet prices are sky high and profits are at record levels.



It seems that competition has failed to work in the big oil business, in fact I tend to believe that each of the big oil company's are working together in a price fixing scam against the consumer.



Company's are fined for price fixing, yet big oil gets a free ride for doing just that. Some very big well known companies have been fined for price fixing in the not to distant past.



Their profit levels never even came close to the levels of the oil company's profits.



If Exxon can take in 36 billion and Shell can take in 28 billion and Chevron can take in about 28 billion that tells me that there is room for them to lower prices, or the government needs to step in and charge them with price fixing.



Sony has been hit with price fixing in the past as has a lot of other big company's.

 

[ctd8999]

Greedy F----n Hogs