Posted on 04/29/2006 6:39:09 PM PDT by Extremely Extreme Extremist
http://hosted.ap.org/dynamic/stories/E/EARNS_OIL?SITE=KOIN&SECTION=HOME&TEMPLATE=DEFAULT
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Apparently, capitalism has become a bit too expensive for some people?
"High" profits? Higher than the crappy profits they had previously.
But compared to most other industries, those profits are mediocre.
"Democrats unapologetic for obstructionist policies that have run up the price of oil, hence giving oil industry high profits."
I've never heard the federal goobermint complaining about the $100billion that ExxonMobile paid in income taxes last year. Or the large chunk the feds take out of every gallon of gas.
The oil industry will have to invest $100 billion in Alaska to get the 17 billion barrels of recoverable oil, and $20 billion just to build the Alaska Natural Gas Pipeline. Guess where that money must come from.
According to the Left, they go into orphanages at night and take candy from babies and sell it to warehouses.
The reason why their profits are so high is that the government won't let them drill in Alaska.
Profit made by ExxonMobil: $8 Billion
Taxes paid by ExxonMobil: $34 Billion
Who should be the apologetic ones????
People in government? Like Hillary with her cattle futures and I heard some other guy made millions off some taxpayer sports stadium deal. And many people come in to Congress poor and leave rich. It's the American way:)
Oil companies make about 8 percent profit on a gallon of gasoline. If the price goes up a buck, they make an extra eight cents. Do we really want to strip them of the wherewithal for finding and producing new sources of oil, all for the sake of that 8 cents?
The best legislation that the Congress can meet the Oil Companies with over this is a Bill to immediately open ANWR for drilling.
Immediately.
Since liberals are always searching for as many victims as possible of something, the oil industry appears to them the ripest target.
The tax breaks that they'll get Congress to pass for them?
Private companies arenot supposed tobe in the oil business? If they think that
Exxon is cheating the public, then what about CITGO, where the profits arte going into the pockets of a tinpot dictator?
How many billions they make is meaningless.
Their percentage of profit on investment is tiny and by all rights they should all close down at least according to my economics prof in the 50s.
They don't owe the public anything!
OPEC controls oil prices and we don't control OPEC. C'est la vie, eh? They saw how well their oil embargo worked with the Yom Kippur War and Jimmah's disastrous handling of the affair, as well as our tolerance of the new high prices after the fact, that they're doing it all over again.
We can immediately lower oil prices by sticking it to them and expanding domestic refining and oil drilling. If we went all out, these speculators would immediately sell their reserves, knowing that their days are numbered. Make some changes in refining rules and lift the ethanol tariff, and the situation is made even better. A few simple moves that would fix everything.
A few simple moves opposed by Democrats.
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