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

[DOWG]

The price of gasoline is up because the price of oil is up.



No other reason.



Period.



Raping the public? Rape, by definition is taking by force. If you don't want to do business with Exxon, don't, just keep on driving til you run out of gas... ... ... .



If you think the price of gas is too high now, just wait, you ain't seen nuthin' yet.



If Exxon wants to pay it's employees "X" amount of dollars, how did it become any of your business?



How would you like it if the government set your pay rate?



What if the government said the company you work for was making too much money so you should give some of your salary back to the "people"?



Ever hear of socialism? Communisim? Ever take a look at the economic results of such policies?



I drill oil & gas wells for a living. I own an oil company. It is how i feed my family and pay my taxes. If you don't like how much money I make for what I do; get lost (censored version). Why should I make less money or charge less for my products because you think I am making too much money?



Oil companies do not control the price of oil. If you think they do, why not start an oil company? What? Dry holes? Risk? Lose your money? OMG? You want it? Come and get it!



Spare me the B. S. about the common good, saving the world, etc. If you don't like it, walk. If you don't like the price, don't use my product.



Why is it always a "conspiracy" by "big business" and the "government" when folks are not able to apply logic and use facts to support their position that "they" are screwing the little people?



It simply amazes me; the price of oil is up, demand is up, oil production is down and ya'll can't figure it out?

 

[DonTX]

I think a point you missed that has many excited, when you can drive down the block and see 10 different gas companies, ALL OF WHICH have just decided their costs went up exactly 11 cents a gallon exactly four hours ago, it seems that supply and demand have nothing to do with it, and the level playing field is not so level any more, yet you say that the oil companies do not set the price of gasoline??. We hear so many news people reporting on EXACTLY why the price went up, but when that factor changes, it don't come back down.

I guess the other factor that is different, I am a retired US Army Officer, yet I did not seem to understand supply and demand that way, or have that leverage when there was a war to fight, even though I was in the only Army we (you) had, and therefore should have had the ability to set our own wages. Can you imagine everyone going home because the wages of fighting wars were not to our liking or because we would prefer a 400 million bonus? In that trade (mine) the thought of such gouging and holding hostage would have been intolerable to us.

 

[DOWG]

My brother and father both graduated from West Point.



It is a volunteer Army.



If you would prefer to have a $400 million bonus instead of military pay; get after it. Comparing military pay to Exxon CEO pay is not apples to apples. How about President of the United States pay $400,000 per year to military pay? (Please, no Bush lied, people died crap. )



The law of supply and demand applies to everything. If there was no competition in the oil markets the price of gasoline could be even higher. The problem is that most of the worlds oil production is outside the U. S. and is not controlled by any U. S. companies. I promise, this is going to get a lot worse and is not going to ever get appreciably better. Most of the world is "undeveloped" by U. S. standards. "They" have us by the short hairs because we use more oil per capita than any other country.



Regulate the oil and gas business, then you must regulate all business. See what you get.



Did not mean to be rude, but "we" needed to wake up; about 30 years ago.



Years late and many dollars short.

 

[john3976]

The price of gasoline is up because the price of oil is up.



No other reason.



Period.



Raping the public? Rape, by definition is taking by force. If you don't want to do business with Exxon, don't, just keep on driving til you run out of gas... ... ... .



It is not just exxon raping the American public, but you must be to blind to see it))



If you think the price of gas is too high now, just wait, you ain't seen nuthin' yet.



((Oh joy, I can't wait for the next record quarter of profits, how much this quarter Exxon, 36 Billion not enough last time, how about raping the American public for 48 Billion this time. ))



If Exxon wants to pay it's employees "X" amount of dollars, how did it become any of your business?



((It becomes my business when they are making the largest profits in the history of America for any business ever, and they are paying out 400 million pensions due to it, that my blind friend is proof in the pudding that the prices are far to high and can be lowered to allow a reasonable price for the public and a reasonable profit for the oil company))



How would you like it if the government set your pay rate?



(( You want to just go ahead and stick both of your feet in your mouth now? The State of Florida does set my pay rate, and during the dreaded Lawton Chiles years I went six years in a row with no pay raise, and this was while the economy was booming, yet good old Democrat Lawton Chiles could not find a single dime for us. The funny thing is Lawton Chiles made sure his staff all got raises as did the Florida house and senate's staff's. You are preaching to the wrong one here boy!))



What if the government said the company you work for was making too much money so you should give some of your salary back to the "people"?



((At 400 million, it would not hurt to give a bunch back to the people))



Ever hear of socialism? Communisim? Ever take a look at the economic results of such policies?



((Yes I have in this country we call it D E M O C R A T S))



I drill oil & gas wells for a living. I own an oil company. It is how i feed my family and pay my taxes. If you don't like how much money I make for what I do; get lost (censored version). Why should I make less money or charge less for my products because you think I am making too much money?



((Out to protect your lush job are you? God forbid you had to live on reasonable profits instead of raping the working class of America like you in the oil business do every day. ))



Oil companies do not control the price of oil. If you think they do, why not start an oil company? What? Dry holes? Risk? Lose your money? OMG? You want it? Come and get it!



((Bull hockey son, yes there is a set cost to everything produced, however it is each company that sets the final price to allow for a F A I R profit, this is were you Big Oil Barons have raped us working class Americans, you have set your profit margins so far out there that you have to charge $2. 50 to $3. 25 a gallon or you might have to live on a profit of only 5 Billion instead of 36 Billion, oh yeah, 5 Billion for most companies is for a whole year, Exxon made what over $100 Billion last year in pure profit, that sonny would go along way to lowering the price of fuel, and that is just Exxon, for get about the Billion upon Billions made by the other Big Oil out fits, heck all told I bet the oil industry made well over 350 Billion dollars last year in pure profits. ))



Spare me the B. S. about the common good, saving the world, etc. If you don't like it, walk. If you don't like the price, don't use my product.



(( here we go again, the if you don't like it walk BS, get real, or is it that you made so much profit last year that you forgot what its like to be a working class American? Everyone knows that you can't do without fuel, you have no choice, that is the way the world is today, get a clue!))



Why is it always a "conspiracy" by "big business" and the "government" when folks are not able to apply logic and use facts to support their position that "they" are screwing the little people?



((When you are raking in obscene profits like the oil industry is and people are cutting back and struggling to fill their tanks each week just to go to work and then Exxon comes out and pays the retiring CEO 400 million dollars, well if you can't understand that then you must live in fantasy land!))



It simply amazes me; the price of oil is up, demand is up, oil production is down and ya'll can't figure it out?



((Yet we seem to always keep that 300 million reserve, hey I have an idea, why don't you try opening your eyes!))

See about text

 

[DOWG]

Again, demand up, prices up, no mystery here.



Again, no logic, just "give me some of yours, because you make too much"



Democrats; you hit the nail on the head. There is more natural gas that can be produced off the west coast, east coast, Florida and Alaska than we can burn for a very long time. Calling Senator Boxer, please stand up, please stand up.



Lush job? I spend most of my time working in the field, long hours, away from family and friends and other irrelevant reasons.



Obscene profits? Exxon is the largest ($ grossing company) on the planet. One would reasonably expect them to make the most money. Who are you to set a limit? I sure hope you don't shop at Walmart, they are number 2... .....



Give back?. Certainly, but it is my money and I, and only I, (except for the IRS) will say when, how much and to whom it is given. This goes back to my other favorite scenario, "when you pry my cold dead fingers... ... ... ..... "



See you at the pump! Happy motoring!

 

[DOWG]

P. S. Look at the facts; the Strategic Petroleum Reserve would only last about a week. Use it and prices will go even higher. Try it, you sure won't like it!

 

[DOWG]

For facts try: www.energybulletin.net

 

[Jaysyl]

The price of gasoline is up because the price of oil is up.



No other reason.



Period.



Raping the public? Rape, by definition is taking by force. If you don't want to do business with Exxon, don't, just keep on driving til you run out of gas... ... ... .



If you think the price of gas is too high now, just wait, you ain't seen nuthin' yet.



If Exxon wants to pay it's employees "X" amount of dollars, how did it become any of your business?



How would you like it if the government set your pay rate?



What if the government said the company you work for was making too much money so you should give some of your salary back to the "people"?



Ever hear of socialism? Communisim? Ever take a look at the economic results of such policies?



I drill oil & gas wells for a living. I own an oil company. It is how i feed my family and pay my taxes. If you don't like how much money I make for what I do; get lost (censored version). Why should I make less money or charge less for my products because you think I am making too much money?



Oil companies do not control the price of oil. If you think they do, why not start an oil company? What? Dry holes? Risk? Lose your money? OMG? You want it? Come and get it!



Spare me the B. S. about the common good, saving the world, etc. If you don't like it, walk. If you don't like the price, don't use my product.



Why is it always a "conspiracy" by "big business" and the "government" when folks are not able to apply logic and use facts to support their position that "they" are screwing the little people?



It simply amazes me; the price of oil is up, demand is up, oil production is down and ya'll can't figure it out?

A very good post. Thanks for trying to bring some common sense to this thread.

 

[EEdmondson]

So, should utility companies be regulated? They are because they are considered to be a necessity of life. They are allowed to make a "reasonable" profit. Is a phone more of a necessity than fuel for transportation? What about food? Where do you draw the line?

When business abuses its position, politicians pass laws like anti-trust laws. The government split up my company (ma bell) in 1984 and now it is being put back together. I think the oil companies are treading on thin ice. Greed will do them in. Of course not during this administration.

 

[mschoenheider]

DOWG - Thanks for the basic economics lesson. I think some people on this board are either too closed minded to understand, or just too ignorant.

 

[john3976]

DOWG - Thanks for the basic economics lesson. I think some people on this board are either too closed minded to understand, or just too ignorant.

LOL, you have got to be kidding, what economics lesson?



What if next year Exxon as well as the other big oil companies decide that gee people like don't seem to care so lets raise our prices so that we can make an even 75 billion per quarter per company, after all you and Mr. Big Oil think its OK, and what choice will any of us have?



Right now my monthly fuel bill costs me over $400. 00, and I have a take home car, I do not have to drive my own truck back and forth to work.



My wife does have to drive back and forth to work and she only goes to the store for food and such when needed.



That is $4,800. 00 dollars a year the oil companies are soaking me for each year right now and that is with extremely cut back driving.



Sorry, but me thinks it is you and your buddy Mr. Big Oil whom need a lesson on economics.



I can do without a phone, but that is a regulated industry and prices are pretty fair, Electric is a regulated industry and except for them being bent over the barrel by Big Oil my electric bill is not to bad once you delete the surcharge from Big Oil.



Fuel is a needed item, this country would come to a stand still within three days if fuel was taken away.



But let the Big Oil companies keep doing what they are doing and the entire country is going to fall not into a recession but into a depression that just might rival the 1930's era depression.



Only a fool would think that would be impossible.

 

[DOWG]

Thanks for the kind thoughts.



Again, it is not the oil companies. The United States imports 60% of the oil it uses on a daily basis. That means Exxon has to do the same (For those of you who own a Duramax, that means they have to buy it from someone else).



Oil imports (sales to the U. S. ):



1. Canada

2. Mexico

3. Venezuala

4. Nigeria

5. Saudi Arabia



Please call these countries and ask them to give some of their obscene profits back. Go ahead. I'll wait.



In the meantime, I will keep selling my oil to Sunoco. At market price. Set by the rest of the world. Who in ever increasing numbers have decided they want a hot shower and a ride to work. And keep using more and more oil, from wells that produce less and less. And drive the price higher and higher.



Maybe this scenario is what drove China to try and buy Unocal (a U. S. oil company). The sale didn't happen. Money did not work this time, maybe the barrel of gun the next time.



Which brings up Iran. The Bomb. Israel. Oil. Just a few mis-steps and the world is going to be short one civilization and oil will be way over $100 a barrel. Hide and watch.



The end of cheap oil is already here. People just refuse to see it. It is much bigger than $3 or $4 dollars for a gallon of gas. It is going to change the way we live. 10 years from now, a $60,000+ MSRP Dodge with a Cummins that gets 18 MPG might just be out of a lot of folks reach. Imagine, these fine trucks a luxury, instead of a necessity. Wait, maybe Daimler Chrysler will lower the price so we can afford to buy and drive the darn thing.



Happy Trails!

 

[RGardner]

I do have to agree with some of your thoughts but if you are working in the oil field rigdht now you are making more money than you can spend and it is to you advantage to defend big oil. I do agree that the supply and demand argument is correct to some degree but if you don't think that there is collusion in the oil patch you are dreaming. The futures market should be way more regulated than it is, you should have to deliver or take the product you are hedging (speculating). The futures were set up to help stabilize the costs in various industries, but I firmly believe that they are being manipulted by not only the oil companies but the hedge funds to make obscene profits! Take a look at T Boone Pickens if you have any doubts about this!

 

[rbattelle]

The price of gasoline is up because the price of oil is up.



No other reason.



Period.



Raping the public? Rape, by definition is taking by force. If you don't want to do business with Exxon, don't, just keep on driving til you run out of gas... ... ... .



If you think the price of gas is too high now, just wait, you ain't seen nuthin' yet.



If Exxon wants to pay it's employees "X" amount of dollars, how did it become any of your business?



How would you like it if the government set your pay rate?



What if the government said the company you work for was making too much money so you should give some of your salary back to the "people"?



Ever hear of socialism? Communisim? Ever take a look at the economic results of such policies?



I drill oil & gas wells for a living. I own an oil company. It is how i feed my family and pay my taxes. If you don't like how much money I make for what I do; get lost (censored version). Why should I make less money or charge less for my products because you think I am making too much money?



Oil companies do not control the price of oil. If you think they do, why not start an oil company? What? Dry holes? Risk? Lose your money? OMG? You want it? Come and get it!



Spare me the B. S. about the common good, saving the world, etc. If you don't like it, walk. If you don't like the price, don't use my product.



Why is it always a "conspiracy" by "big business" and the "government" when folks are not able to apply logic and use facts to support their position that "they" are screwing the little people?



It simply amazes me; the price of oil is up, demand is up, oil production is down and ya'll can't figure it out?

Great post.



BTW, how come no one complains about how much money Bill Gates makes? He's the richest man on Earth, but no one ever complains that he's "making too much money".



-Ryan

 

[Diesel Nut]

There are a lot of good points here, both for and against. Here is my personal opinion -

First, Too much is too much. Business should be profitable,but come on! At what point is it profitable and flat out robbery?! Share holder or not. You have to to be making an aweful lot off your shares before you aren't worried about the high price of fuel.

Second - I work in refineries and let me tell you, they don't spend crap on maintenance! They don't want anything down keeping them from making fuel when the price is as high as it is. There is no supply and demand. They are making fuel as fast as they can to beat out the next refinery in total gallons put into circulation. notice how ALL the refining companies are posting record profits.

Third -

The solution is to buy a car that gets 40 - 60 mpg.

This is not possible. Big oil pays their buddies in Washington to push them out of the country. Perfect example - how many cars are available with diesels? 4. VW Golf, Bug, Jetta and Toureg. And those may not be available next year due to Washington and their Anti-diesel ideas. Funny how Diesel Power magazine rated the top 10 fuel efficent vehicles of last year and #1 and 2 were hybrids, #3, #4 and #5 were VW Diesels. Yet those may be banned next year. Any talk of trying to make advances in alternate fuels or fuel effiency is Bull *****! They don't want us to cut the number of gallons it takes to get to work! They want more.

Bottom line, Big oil is getting too greedy and to big for it britches. A modest profit is commendable, an overly gross profit is proof of price fixing. And to make matters worse, they claim the high price is nessissary. For who? Them and their multi billion dollar industry. They could drop the price 50 cents a gallon and still make a HUGE profit. I could go on for days . . . . .

 

[Rams-n-Hogs]

BTW, how come no one complains about how much money Bill Gates makes? He's the richest man on Earth, but no one ever complains that he's "making too much money".

Because he provides a luxury, not a necessity that drives up the cost of everything, and could lead to a recession, or worse.



The gov't doesn't need to regulate the oil industry. There's already too much gov't. They just need to develop more incentives to find other means to produce energy. Biodiesel, wind power, solar, etc. There are plenty of options that haven't been developed enough, yet, to have an impact, because there's not enough incentive. For what it's worth, Exxon made approx 11% profit. The company I work for made almost 10%. They are just a (lot) bigger company, so the figures are (a lot) bigger. My biggest problem with this whole thing, is the way they speculate and drive costs up instantly, and when the crisis is over, the prices either don't come back down, or they are very slow about it. I don't see how these high prices can continue for much longer, though, without consequences.



Jim

 

[Cummins Thunder]

IF diesel was still ~$1. 20 a gallon, my truck would be in the 13s :{



$2. 65 a gallon is killing me



$100+ a week for fuel is not fun...



CJ

 

[VaCTD]

This really burns me up. I have no problem with the oiul companies making a profit... ... ... ... ... But, enough is enough. Especially when they give unGODLY amounts of $ as bonus to the CEOS. Sorry, fellas... ..... No one person is worth that much money (No CEO, athlete,... . ETC), and I don't care who you are. The bad thing is they are screwing everyone and I do mean EVERYONE. I don't know about some of ya'll... . I have noticed the prices of other items going up as well (groceries, etc). Companies are only going to absorb so much of increased fuel cost and then they are going to pass it off on to us. And as always... ... ... ... ... . We will PAY dearly... one way or another... . we, as the public, will pay dearly. bad thing is... ... ... we should not have too

 

[john3976]

Alternate energy not in cards at ExxonMobil



By James R. Healey, USA TODAY





ExxonMobil, which stunned Americans on Thursday by reporting nearly $10 billion in profit for the third quarter, says it has no plans to invest any of those earnings in developing alternative or renewable energy — something other oil companies do.

"We're an oil and gas company. In times past, when we tried to get into other businesses, we didn't do it well. We'd rather re-invest in what we know," says Exxon spokesman Dave Gardner.



Neither will Exxon significantly step up how much money it puts into finding oil or refining it into gasoline, which could help ease tight supplies that have driven oil and gasoline prices to records this year.



Energy companies earnings rise

Some of the biggest energy companies reported third-quarter earnings this week. Net income (in billions):

Q3 2005 Q3 2004 Chg.

ExxonMobil $9. 92 $5. 68 75%

Royal Dutch Shell $9. 03 $5. 37 68%

British Petroleum $6. 53 $4. 87 34%

Sources: The companies







Exxon's investment for those activities will total about $18 billion this year, roughly what was planned and similar to what Exxon has invested in exploration and refining in past years, Gardner says.



"We do that in good times and bad," he says. "The returns this year might look very large, but there were years when they weren't so large. In years when we had $10 (per barrel) oil, we were investing $15 billion in our business. This year, we'll invest $18 billion. " Oil is about $61 a barrel.



Illustrating the feast-or-famine cycle in the oil industry, ExxonMobil earned $7. 9 billion for all of 1999.



Data from the U. S. Energy Information Administration show that the 20 big energy companies it tracks, together, earned $1. 6 billion in the fourth quarter of 2001, and together earned less than $10 billion in several other quarters in 2001 and 2002.



Exxon notes it boosted the energy efficiency of its own refineries and chemical plants more than 3% last year vs. 2003, and is investing $100 million over 10 years in a Stanford University project to find energy sources not yet being considered.



Nevertheless, Exxon's huge profits and its reluctance to use them for alternative energy development are unlikely to win much applause from motorists weary of $3 gas, suspicious that the current decline in prices will be short-lived, and hoping either for plenty of gas on the market or for a cheaper alternative.



The Sierra Club, an environmental group often critical of the auto and energy industries, said Thursday: "Americans want clean sources of energy that protect public health, reduce pollution, curb global warming, and save consumers money. Instead, ExxonMobil has worked to make America more dependent on oil. "



"We can debate what percentage of the profits should be plowed back into the company and what percentage belongs to the shareholders. Not being a shareholder, I'd prefer to see them err in the direction of spending a larger portion on refineries and new (oil and gas) fields and infrastructure," says Peter Beutel, author of Surviving Energy Prices and head of energy consultant Cameron Hanover.



Chevron, which is to report earnings today, plans to boost capital spending and exploration investment 20% this year, to $10 billion. Spokesman Donald Campbell says that amount has risen most years, but not by 20%.



He also notes that Chevron has spent $1 billion since 2000 developing alternative energy, renewable energy and methods of using energy more efficiently. Among those projects is a partnership with automaker Hyundai on a hydrogen-refueling station in Chino, Calif. , for the handful of non-polluting fuel-cell vehicles being tested in the USA.



Investments by oil companies in alternative and renewable fuel development are common, which makes Exxon's stance stand out.



For instance Shell, which reported third-quarter earnings of $9. 03 billion, up 68% from a year earlier, has a unit dedicated to solar and wind energy. It's called Shell Renewables, and the energy company considers it one of its five core business operations.



Shell also has a global hydrogen unit. Among other projects, it operates a hydrogen-refueling station for fuel-cell cars in suburban Washington, D. C.

 

[john3976]

This really burns me up. I have no problem with the oiul companies making a profit... ... ... ... ... But, enough is enough. Especially when they give unGODLY amounts of $ as bonus to the CEOS. Sorry, fellas... ..... No one person is worth that much money (No CEO, athlete,... . ETC), and I don't care who you are. The bad thing is they are screwing everyone and I do mean EVERYONE. I don't know about some of ya'll... . I have noticed the prices of other items going up as well (groceries, etc). Companies are only going to absorb so much of increased fuel cost and then they are going to pass it off on to us. And as always... ... ... ... ... . We will PAY dearly... one way or another... . we, as the public, will pay dearly. bad thing is... ... ... we should not have too

We end up paying twice, first we pay at the pump for Big Oils greed, then we get hit a second time with other products we buy due to all the other companies having to pass on their increased costs to us the American public.