Obscene profits

Better be careful. Best to let the supply-demand principle drive the economy. In the case of oil, though, it might be too late for that.

 

The can't build new refineries. The eco-nuts want let them.

 

Their profits are crazy...but why are people so mad? We in the West take part in a capitalistic society and Shell, Chevron, Exxon, et al are simply doing what any business would do: namely, make money!

(I am one of those who gets mad by the way...so I'm talking mostly to me here!)

 

of course, if it were me making the profit then it wouldn't be "obscene"

:tonofbricks:

 

If the price is too high don't buy it. When demand goes down so will the price.

Anyone ever think of just who has determined what the price of a barrel of oil should be? Like gold oil is a "world commodity." It's price is not determined by any one company. If Saudi Arabia decides to reduce production the price will rise. So if oil is taken out of the North Sea by Shell, BP or Exxon the price of oil remains the price set by the Saudi's production level. If Shell's production is very efficient and is able to pump oil out of the North Sea cheaper than the going price of it's commodity then Shell is going to post record profits.

Think of oil as being pumped into a giant pool where speculators wrangel over it's value by how deep the pool of oil is. It does not matter who has pumped it or where it was piped or shipped from (Alaska's North Slope, Gulf of Mexico, Texas, North Sea or from the deserts of the Middle East). The price will be determined by the level of the pool, not by any one company or government.

 

And if you (citizens, not you P51), are outraged by these "obscene" profits, then park your van, SUV, green car or whatever, and do absolutely NO (NADA NONE ) driving except that which is totally, unequivocally, unquestionably necessary for your needs; not wants!!!!

If you aren't willing to do such, then you're just bellyaching for exercise when you condemn the oil company.

Just like all these big-wigs travelling in their private jets & complaining about carbon emissions - much ado about nothing.

The more demand there is for a product, the more it will cost to get it. Lessen demand, lessen the cost; other variables remaining constant.

Just let bicycles become the prefered method of transportation for jaunts of, say, 3 miles or less, and watch the price of bikes skyrocket.

Price is always going to match demand, and when it (whatever it may be) becomes too expensive and demand goes down, so will the price.

So if you do ANY unnecessary driving, you are one of the reasons the price is where it is.

Oh, for the record, I'll take the higher prices over price controls any day. Anybody remember the gas lines back in the mid 70's?

The price held constant, WHEN YOU COULD FIND A STATION THAT HAD GAS!!!!

Yep, that was a real governmental boondoggle from the git-go. (Just like most things the gov't messes in that ain't constitutional!)

 

I own a small 6 cylinder car and I have been doing what you suggested for over two years. Since I have COPD and cannot walk or ride a bike anymore, this is virtually keeping me a prisoner in my own home.

Yes, I'm outraged!

 

Actually, I happen to know that Valero is expanding their refineries to increase production capability (the one in Port Arthur, Texas is expected to double in size) and I'm sure other companies are either actively working toward the same thing.

 

Oil companies have as much control over the price of oil as farmers do over the price of corn.

 

I am not upset with Shell, Walmart or any other corporation making huge profits. Shrewd business practices should be rewarded with good profits. What we as consumers need to do is keep these corporations accountable in their business practices with respect to the environment, treatment of workers, business partners, competitors, communities, etc so that they remain ethical in their quest to make more profits.

 

I don't understand it. We complain that our good-paying jobs are going overseas to low-wage countries. Then when we have an industry that makes money, pays good salaries, and turns a profit, we complain about that and think their profits are obscene.

Here's a tip: The oil companies, for the most part are publicly owned companies. Buy some of their stock and share in the profits.

 

Reason? The liberal influence that says big business is evil, and must be disciplined by the (shudder--) government.

A little story to illustrate: