chassroc
Cave Dweller
Rocks are abundant when you have rocktumblinghobby pals
Member since January 2005
Posts: 3,586
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Post by chassroc on Jul 26, 2012 9:53:27 GMT -5
I see a lot of posts where people swallow and spout the doctrine of the big oil companies with nonsense like they only make 2 cents per gallon. Fair enough, but lets take any of the big oil companies and realize that they have lots of ways of accounting to maximize profit. If they only made a few cents per gallon and that was all they made that would be one thing...but they make a hell of a lot of money on the oil they pump from the ground so when they say they only make 2 cents per gallon, they are not counting the money they make along the way. As an example, take Exxon Mobil, nice company, very profitable, but always crying wolf and poor me and we only make 2 cents per gallon. So that would be a profit of over 300 million dollars per quarter just from the gas stations they own. However last year they had a profit that averaged 10 billion per quarter...so this 2 cents per gallon is very misleading. It does not count their profit that comes from pumping crude out of their wells at all. The next time you see Big oil crying about how little they make and how small their profit margins are ... it doesn't take much to see how they manipulate the numbers
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Post by helens on Jul 26, 2012 10:28:10 GMT -5
Why wonder? Here is Exxon's Income Statement for the past 3 years: finance.yahoo.com/q/is?s=XOM&annualThey can't lie to the SEC, they are a publicly traded company. $41 BILLION DOLLAR NET PROFIT , $73.5 BILLION DOLLARS Gross PROFIT Click on Quarterly Statements too... 9.5 BILLION DOLLARS NET PROFIT in the 3 months ending 3/30/12 That 2 cents sure does add up:). Oh... and the CEO of Exxon made $35 Million last year (WAY less than Aetna Insurance's CEO last year, and 1/2 of Aetna's old CEO the year before - all while denying medical benefits to insured): www.reuters.com/article/2012/04/12/us-exxon-proxy-idUSBRE83B1ME20120412Exxon made $75,000 PER MINUTE last year (this of course is deducted BEFORE calculating GROSS PROFIT):
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Post by rockjunquie on Jul 26, 2012 11:26:50 GMT -5
I'm not trying to excuse any corporations for any of the legitimate wrong doings that DO go on, but will someone explain to me why it is evil for a corporation to make a profit?
Frankly, they could charge all they want for their product and people, industries and governments worldwide would still buy it. The world runs on oil. Sounds like a good, secure business to be in.
Are they supposed to give it away?? Then where would all the tax revenue come from?
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Post by helens on Jul 26, 2012 11:32:24 GMT -5
No one thinks it's wrong for ANYONE to make a profit. That's what business is for.
What's WRONG is to ask the US Taxpayer to SUBSIDIZE big oil... WHILE they make $75K a minute. And as the tax base shrinks because the Republican party wants to cut taxes for the wealthy yet again, that money for Oil subsidies will have to come from somewhere... our Social Security and Medicare.
THAT is the nature of the current fight between the Dems and Republicans.
The Dems want to help the middle class, poor and elderly, and the Republicans want to keep oil and farm subsidies (for Monsanto, farms netting under $250K a year do not qualify for farm subsidies), WHILE reducing taxes for the wealthy, dropping the tax income. If they lower taxes on the wealthy yet again... the only place to take it from are the poor and elderly. The benefits people have paid for already over their entire lives we will ALL lose.
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Post by rockjunquie on Jul 26, 2012 11:38:43 GMT -5
Oh, from the way I read the thread, I thought this was an argument against profits. My bust.
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Post by texaswoodie on Jul 26, 2012 16:21:50 GMT -5
Ho Hum
Curt
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bushmanbilly
Cave Dweller
Member since October 2008
Posts: 4,719
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Post by bushmanbilly on Jul 26, 2012 17:02:32 GMT -5
Charlie and Helen. Would you stay at your job if at the end of the day you were losing money? Now come on!!!!! Businesses are in business to make money. GET OVER IT!!!!!!!!!!!!!!! If your so hell bent on complaining and whining about oil companies. BOYCOTT THEM, sell your car. Hell sell everything you own. It all is connected to oil someway or another. Dig a hole in the ground and live there. Buy a horse or a good pair of shoes. I don't hear you bitch about Apple. Hell they sell you about $150 worth of parts they call a computer for $500+. Now who is making obscene amounts of profit. I don't hear you complain about shipping all that cash over to the middle east. When you could drill your OWN OIL. Bitch at Barry for being so stupid with his energy policy!!!!!!!!
I'm sorry for the next statement, but I have to say it. Some people are just plain brain dead!!!!!!!!! If it wasn't for oil you would still be in the stone age!!!
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Post by helens on Jul 26, 2012 17:11:46 GMT -5
Billy... name one other HUGE industry besides Monsanto that the Republicans want to give subsidies to? At $75,000 a minute, they need taxpayer subsidies? Of course we're happy Exxon makes money... they make far more money than you or I do (last I checked, I didn't make $75K a minute). Now... why isn't the Gov't subsidizing ME for ANYTHING? Ohhh... I get it, Republicans only want people like me to pay for Exxon, even tho WITHOUT me they can make $75,000 a MINUTE in PURE PROFIT (not gross, not gross net, NET after ALL expenses and taxes and wages, and material costs, that sits in CASH). You're an oilman... why doesn't Canada give YOU subsidies? Maybe YOU should donate towards Exxon's subsidies since you like them so much? I mean I want them GONE.... and... this HAS come up as a matter of fact. HERE: www.cnn.com/2012/03/29/politics/oil-subsidies/index.htmlHeadline: Senate Republicans reject Obama call to end 'big oil' tax breaks Now... why can't I get 'subsidies' if they can? Ohhh... I get it, I'm not rich enough to get tribute from the poor and the elderly. Bitch at Barry for trying to stop giving Exxon oil subsidies? No. I want them to stop getting oil subsidies. I want a Congress who will agree with that.
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lparker
fully equipped rock polisher
Still doing too much for being retired!
Member since March 2008
Posts: 1,202
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Post by lparker on Jul 26, 2012 17:12:00 GMT -5
Billy- no we would not. The use of (petroleum) oil is pretty new in world history. We might be back in the middle to late 1800's. Of coarse there wouldn't be any whales left...if anyone cared.
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bushmanbilly
Cave Dweller
Member since October 2008
Posts: 4,719
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Post by bushmanbilly on Jul 26, 2012 17:22:51 GMT -5
No. I want them to stop getting oil subsidies. I want a Congress who will agree with that. Were on the same side there Helen. No companies should get subsidies or bailouts. If they can't make it on there own there will always be some one to buy them up and make a go of it. Its called natural selection.
Remember if a company can't make money. They don't create jobs. And jobs it what the USA needs badly.
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bushmanbilly
Cave Dweller
Member since October 2008
Posts: 4,719
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Post by bushmanbilly on Jul 26, 2012 17:29:17 GMT -5
Billy- no we would not. The use of (petroleum) oil is pretty new in world history. We might be back in the middle to late 1800's. Of coarse there wouldn't be any whales left...if anyone cared. Your right and wrong Parker. The native North Americans were useing it long before the industrial revolution. They used OIL SAND OIL to patch and water proof their canoes.
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Post by jakesrocks on Jul 26, 2012 17:29:52 GMT -5
Barry has no problem subsidizing the green energy industry, now does he. Well guess what ? Before the end of the year, expect to see your energy prices go way up. Corn has been devastated by the drought. The price of that nice green ethanol that Barry has no problem subsidizing is about to triple in price. Guess what that's going to do to your dollars when you pull up to the gas pump ? Same is happening to soy beans. Guess what's going to happen to the price of soy (green) diesel ? and while we're at it, guess what's going to happen to every single thing you buy ? Why, they're going to go up with the increased cost of fuel to produce and move them. But Barry's right to subsidize his pet green energy projects, now isn't he.
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bushmanbilly
Cave Dweller
Member since October 2008
Posts: 4,719
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Post by bushmanbilly on Jul 26, 2012 17:37:28 GMT -5
Corn has been devastated by the drought. The price of that nice green ethanol that Barry has no problem subsidizing is about to triple in price. Guess what that's going to do to your dollars when you pull up to the gas pump ? Same is happening to soy beans.
Hmm were having bumper crops here. Hmm Maybe that pipeline decision Barry made might just bite him in the ass!!!!!! Hmmm!
But no Canada is not like that we would send you grain if you needed it. Its just the right thing to do for your NEXT DOOR NABOR. To bad Barry does not have the same sense of friendliness.
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bushmanbilly
Cave Dweller
Member since October 2008
Posts: 4,719
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Post by bushmanbilly on Jul 26, 2012 17:41:57 GMT -5
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Post by jakesrocks on Jul 26, 2012 18:14:23 GMT -5
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Post by helens on Jul 26, 2012 19:11:27 GMT -5
Barry has no problem subsidizing the green energy industry, now does he. Well guess what ? Before the end of the year, expect to see your energy prices go way up. Corn has been devastated by the drought. The price of that nice green ethanol that Barry has no problem subsidizing is about to triple in price. Guess what that's going to do to your dollars when you pull up to the gas pump ? Same is happening to soy beans. Guess what's going to happen to the price of soy (green) diesel ? and while we're at it, guess what's going to happen to every single thing you buy ? Why, they're going to go up with the increased cost of fuel to produce and move them. But Barry's right to subsidize his pet green energy projects, now isn't he. Subsidizing corn is subsidizing Monsanto. And I don't want that either. But since the Republicans won't let him stop oil subsidies, they also won't let him stop corn subsidies. I'm GLAD the corn's all burnt up, they can raise the prices at the pumps that sell the crap (BP!!! COUGH COUGH) and I'll just keep buying my gas from the pumps that use less to none of it (Chevron).
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Sabre52
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Me and my gal, Rosie
Member since August 2005
Posts: 20,466
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Post by Sabre52 on Jul 26, 2012 19:25:04 GMT -5
Hmm. I oppose all subsidies, including those given to Obama's green buddies which are especially a big ole waste of taxpayer money. I'd also mention that one of the reasons for corn shortages is the use of huge acres of it for producing ethanol which we don't really need and is bad for our cars, lowers engine efficiency, uses immense volumes of water and lots of pesticides. Just another greenie idea which is a waste of acreage and taxpayer money....Mel
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Post by helens on Jul 26, 2012 19:29:57 GMT -5
Yuck. You posted after I wanted to edit. I meant CITGO, not CHEVRON!!! Chevron puts ethanol in their gas too.
Subsidizing corn to make ethanol is not considered an alternative energy subsidy, it's a FARM subsidy. Although, monsanto gets SOOO many different subsidies, they may get some for farm, some for oil and some for alternative energy, all for the same acre of corn. UGH.
Now how do we stop the Republicans from doing that? They ALREADY shot down Obama's energy subsidy elimination bill.
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Post by jakesrocks on Jul 26, 2012 19:55:22 GMT -5
Helen, do you for one minute, think that Obama intends to stop subsidizing the ethanol, wind and solar energy businesses ?
Yup Mel, thousands of acres all around me. All in corn and soy beans. And with the exception of family gardens, not a single soy bean or corn kernel is for human consumption. Every single acre of what could be food crops going to ethanol and soy diesel. No thought to feeding our people. We can import plenty of our vegetables from Mexico, where the field workers think nothing of dropping their drawers in the field and crapping or peeing on the very same food that we import.
I know that Helen or others will jump all over my last statement, but I lived in Southern California. I've seen the illegals working in the fields. And I've personally seen their bathroom habits while working in those fields. Just think about it, and the next time you buy fresh vegetables or fruit, remember what you're handling and eating.
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Post by helens on Jul 26, 2012 19:58:01 GMT -5
Helen, do you for one minute, think that Obama intends to stop subsidizing the ethanol, wind and solar energy businesses ? Yup Mel, thousands of acres all around me. All in corn and soy beans. And with the exception of family gardens, not a single soy bean or corn kernel is for human consumption. Every single acre of what could be food crops going to ethanol and soy diesel. No thought to feeding our people. We can import plenty of our vegetables from Mexico, where the field workers think nothing of dropping their drawers in the field and crapping or peeing on the very same food that we import. I know that Helen or others will jump all over my last statement, but I lived in Southern California. I've seen the illegals working in the fields. And I've personally seen their bathroom habits while working in those fields. Just think about it, and the next time you buy fresh vegetables or fruit, remember what you're handling and eating. Obama DOES NOT SUBSIDIZE alternative energy, he gives them LOANS that must be REPAID. Subsidies are NOT repaid, and YES, Obama is trying to END subsidies. Since you don't like them either, get busy writing your Congressmen about THIS: articles.nydailynews.com/2012-03-29/news/31256487_1_oil-companies-oil-industry-president-obama
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