Re: {OT} gasoline price gouging


"DH" <dh@xxxxxxxxxxxx> wrote in message news:464461a8$0$6303$88260bb3@xxxxxxxxxxxxxxxxxxxx
"Hachiroku ????" <Trueno@xxxxxxxx> wrote in message news:LsL0i.5576$rk5.5347@xxxxxxxxxxx
On Thu, 10 May 2007 12:02:37 +0000, Jeff wrote:
"Hachiroku ????" <Trueno@xxxxxxxx> wrote in message
news:eqw0i.11205$dj2.3057@xxxxxxxxxxx
On Wed, 09 May 2007 16:51:18 -0400, badgolferman wrote:

The next time you complain about where the windfall profits are going
consider how the state is demanding gas stations sell at a certain
percentage over wholesale so they can get their share of money from the
consumer. The sad part is the state doesn't produce anything or put up
the money to explore or refine or create or deliver or nothing. They
just
take their share off the top and demand there be no competition between
station owners.

What about the *other* 49 states?

And, thatr price in Wisc. doesn't matter, since the oil companies are
*still* reaping great profits.

That law has to do with the amount of money store owners in Wisc. are
making. Except for stores owned by oil companies and little difference in
profit that they would make at those stores, it has nothing to do with oil
company profits in Wisc.

No, it doesn't.

But, the other disturbing thing you left out is the Hilary has stated
there should be a Windfall Tax on the massive profits of the oil
companies.

What massive profits? They have a profit margin of around 10%. In line
with other companies.

Exxon/Mobil, $40B in *profits*, the largest EVER posted by any corporation
*ever*.


Now, you know from my posts I have a lot of heartburn with the record
profits posted by the oil companies.

Why, did you sell your stocks of oil companies a few years ago?

No, because the economy of the US is on the "Petroleum Standard". I have
been saying this since I was a Senior in High School. NOTHING cotrols the
amount spent on Goods and Services in the US then the price of petroleum.
The price of petroleum goes up, the price of *everything* goes up, and
also determines how much money people have for discretionary spending. If
people are paying more for gas and food (which is greatly effected by the
price of fuel), then they have less money for other things. If allowed to
continue this way, the economy will be in a recession before too long.



But I have even BIGGER heartburn with Hilary and a Democratic Congrees
getting ahold of the money! She says she wants to put the money from the
Windfall Tax to Alternative Fuel research. Yeah, right. Like some guy in
his garage in East Overshoe getting $100,000 to explore getting fuel
from Sweet Potatoes (I made that up but you never know...)

Where's East Overshoe. We have an East Orange around here. I wonder if it
is nearby.

I have an Orange around here. East Overshoe is next town over.




Actually, it does not sound like a bad idea, except that it has not been
shown that oil companies have a windfall.

UGH! Letting Congrees have the money? How about, instead of giving it to
Congress to waste on cr@p, they just cut the prices and make everyone
happy, and give that money back directly to the people buying the product,
so they can have more to spend on other things and keep the economy
bouyant?

Oh, I forgot, you're a Democrat. Letting the People spend their own money
isn't in the best interest of the country to you guys...

You should listen to some actual Democrats instead of getting your misinformation about them from people with other agendas.

The domestic oil companies' huge profits are driven largely by their old oil sources. They are diggin up oil that belongs to The People and selling it back to us at highly inflated prices. They discovered some of it dozens of years ago, their production price can be very, very low but their selling price is dictated by the market.

The Democrats are looking at this and thinking, "Well, sure the oil companies risked some money finding it, so they deserve a return on their investment. But the returns they're getting selling our own national resources back to us are ridiculous." Why not hit ExxonMobil with a $20billion windfall profits tax on that $40billion? They would still be making a crapload of money and a lot of it is being made, now, with no risk whatever.

Actually, you have to get your numbers right. The $40B is worldwide profits. Only $11B is US profits. Are we going ot penalize them for making money outside the US?

I think, in the future, setting the royalties so that they are fair is a great idea. However, the US made a contract with the oil companies, and should honor that contract.

It was both Democratic and Republican administrations who agreed to the contracts.


Alexander Hamilton was a genius. Did you know that? He was instrumental in developing a policy - pay off the war loans - that was very significant in holding the country together. It gave the former Colonials with influence and local power a reason to stick with the Union.

If you look at Iraq, you find three tribes... the Sunnis, the Shi'ites and the Kurds. They have no particular reason to want to keep Iraq together. Alexander Hamilton would look at this problem and I believe he would propose a solution (which, to be fair HAS been proposed by other people). Give every Iraqi a dividend or ownership of the oil as a national resource. Everybody's entitled to 1/(population) of the oil and its profits, so every Iraqi citizen would get a check every year. Suddenly, they'd have a reason to stick together.

Bush policy is to stabilize Iraq as one nation. Why aren't we pressing hard for shared oil ownership? Because our oil companies don't want you thinking in terms of you ownnig the resources that they're selling to you.

After they take the oil out and pay the royalties, it is their oil, not ours. They do add value to the oil, but getting it out of the ground, refining it and delivering it to where it can be used (i.e., the gas stations).

It would be good Iraqi policy but it would be bad domestic US policy (bad for the oil companies, anyway). If this idea of community ownership gets out of hand, ExxonMobil's $40 billion would get taxed the way it should - or new concepts of oil and gas leases would be developed that would eat away at their $40 billion.

IMHO, Americans don't take ownership of public resources. That includes thinking of public parks, libraries, schools and roads and a resource in which they are part owners. The same extends to mineral resources under the ground. If Americans thought this way, they wouldn't dump trash all over the place and take pride in their schools, parks and libraries.

Jeff

If it comes down to that, I'd rather let the oil companies keep the
money!

Me too. I own shares of ExxonMobil and other oil companies.

Jeff

I see a bit of greed creeping in here?

You're getting a whopping $0.35 dividend per share, on a $79 stock?!?!?!

Dude, I had NoestUtil stock, $12 a share and was getting $1.20 a share!!!!

Guess they saw you coming!

Are you referring to NU on the NYSE? They're only paying $.80 and their price is $32.



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