Posted on 05/01/2008 6:55:13 PM PDT by Kaslin
Profits: Exxon Mobil's first-quarter earnings of $10.9 billion, up 17% from a year earlier, are stirring outrage in Washington. Some are calling such profits "obscene." What a sad lack of understanding of economics.
No, what's seriously wrong is that politicians such as Clinton can cynically manipulate public opinion to enact disastrous policies.
Indeed, rather than be upset at Exxon's profits, Americans should be thrilled — and angry at a Congress that doesn't seem to want to encourage the oil industry to make even more.
Our free-market economy is built on profit. Higher profits mean more jobs, higher incomes, more investment in equipment and people, higher standards of living. Yes, profits are the engine for all of this — and that includes the profits of "Big Oil."
By signaling that supply is scarce, higher profits encourage more production. Except, that is, when Congress through its inept lawmaking stands in the way. And that's the case now with the oil industry.
(Excerpt) Read more at ibdeditorials.com ...
What’s seriously wrong, is every time you buy gas — you’re paying quite a bit of that money — directly to terrorists.
That’s the problem.
Not profits.
So how about the oil companies help us change that?...
How about the domestic ECOFREAKS LET US GO AFTER THE OIL IN THE U.S.?
What nobody ever mentions is that when supply remains static but demand increases, the prices must go up or there will be shortages. If the prices go up, of course the oil companies will make more profits. So what would the populist know-nothings have them do, raise prices and throw the money away?
Excellent
Last time I bought a CD (which was a couple years ago, because I don’t like paying money to liberals), the CD was almost $20.
$20. For a tiny slab of plastic. And movie ticket prices - don’t even get me started.
I think it’s high time to start charging hollywood studios, a “windfall profits” tax.
“Big cd”, and “Big movie” can pony up some of their bucks. And “Big lawyers” too. They’re pretty greedy.
How about a cap on liability lawyers fees.
And how about “Big tv”. Bunch of whining greedballs.
If it’s just greed we’re taxing, seems to this poster liberals are (over-) represented in that group.
This could be fun... :)
I talked to a lib today and they are totally convinced that if we began to drill now, it would take us 20 years to get oil..Yeesh.
With every rise in the price of gasoline, Washington finds what we will pay to get around in our cars.
Whatever “alternative fuel” is created to replace gasoline, if cheaper, will be taxed according to the price of gasoline prior to that replacement.
But have the profit margins increased? I hear that the margins have not been increasing just the gross revenues. New refinery capacity may be lagging due to very low profit in making gasoline and not just to the Enviros. Anyone have some good numbers?
The problem is, Bush really does seem to be in the pocket of the oil companies.
I know, that’s a liberal screed. But fact is, he’s really not doing much about the situation. He’s the one with the bully pulpit. He could be out there, making the case for more drilling, making the case for new sources of energy.
How can one conflict in Iraq, so utterly immobilize a presidency, which once seemed so right?
He’s not doing any of that.
In fact, he’s doing just about NOTHING.
At least print up some “W.I.N.” buttons or something.
Did you miss his statements THIS week?
I guess I did miss what President Bush said this week. At work mostly...
What did he say?
And what’s he doing, more importantly?
I keep waiting for him to get riled up again, like when he had all the firemen gathered around, chanting “USA! USA! USA!”.
Come on Sir. Everyone’s really mad.
Harness that! America wants a purpose. We’re not going to the moon anymore. We’re shipping all our factories to a bunch of communists. We squabble over our shrinking slice of the pie, more every day.
Let’s make this the next big thing.
The next Apollo! All we do in bicker and complain. Let’s DO SOMETHING.
100% American Energy Independence — in 5 years!
Not one day less.
Vote for a conservative Republican representative and senator in November. Perhaps we can get the federal government off the backs of the oil companies so they can develop domestic supplies. It isn't that they don't want to develop those supplies. It is the green freaks and their willing accomplices in the Democratic party that keep passing onerous regulation and banning access to domestic supplies. Place the blame where it belongs and do something about it in November.
Er. Strike that:
“Not one day more!!”.
I hate it when that happens... :)
Margins are lower than in the past. Factor in the falling dollar and their profits are dropping.
Forget taxation.
Let’s get America on track to Energy Independence!!
WHY MUST WE ALWAYS PAY FOREIGNERS FOR WHAT WE NEED?
We pay communist Chinese for ... well everything anymore.
We pay communist Hugo Chavez for oil.
We pay terrorists for oil.
All we do is pay people, who want us dead.
WHAT IS WRONG WITH THIS PICTURE?
Why in the world, is everyone so complacent??
Fuggetabotit...check out the popcorn!
Movie theatre popcorn has been a huge rippoff for years, imagine now that the Ethenol industry is taking over the nation!!!
$10 gas??? $10 popcorn will ruin the movie industry!!!!
This from a woman who made over 120 million dollars in the last seven years.
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