On Sun, 24 Apr 2011 22:51:09 -0700, sent the
following message
On Sun, 24 Apr 2011 23:39:21 -0400, Wayne B
wrote:


On Sun, 24 Apr 2011 22:12:38 -0400, Gene
wrote:

On Sun, 24 Apr 2011 21:05:44 -0400, Wayne B
wrote:

On Sun, 24 Apr 2011 20:39:41 -0400, Gene
wrote:

On Sun, 24 Apr 2011 18:25:30 -0400, Wayne B
wrote:

On Sun, 24 Apr 2011 12:41:35 -0400, Gene
wrote:

Holding a big inventory of oil in your tank farm is not
without risk
and it takes massive investments in time and money to build
the
infrastructure. Not surprisingly, the people who make those
investments expect to earn a profit once in a while.

"A profit once in a while.....?"

http://www.nytimes.com/2011/02/01/business/01oil.html

http://www.grist.org/article/2010-04...panies-continu
e-to-see-big-profits-pollution-while-am
http://money.cnn.com/2010/07/29/news...xxon/index.htm

http://money.cnn.com/magazines/fortu...009/performers
/companies/profits/

The oil companies and speculators are almost single-handedly
preventing an economic recovery.... and they are being paid
handsomely
to do so..... and you are DEFENDING that?

Incredible.....

It's a very cyclical business and no one feels sorry for Exxon
when
they have stagnant growth, or even worse, when they fail to
discover
enough new oil to replace what they sold. Unfortunately that
is what
is happening. It is probably reasonable to assume that as
their
exploration and acquisition costs go up, and as their reserves
go
down, they will want a higher price for the product.

In the interest of full disclosure, I own stock in both Exxon
and
Chevron-Texaco. Their annual reports make interesting
reading and
the future for energy prices is not good.

Somehow, you are missing the reality that when Exxon loses
money, the
stockholders are ****ed..... when Exxon continues to make
record
profits in an otherwise miserable economy, they are sticking it
to all
of the users of gasoline.... one way or the other, the entire
American population.... and to the entire American economy....

Let's not forget that they are entitled to make a profit no
matter how
miserable the economy might be. Their costs are going up, way
up.
Our cost will go up also. The dollar continues to depreciate.
That's a result of our fiscal policies and upside down balance of
payments. A strong dollar would result in cheaper oil, and that
is
what we've been used to in the past.

Corporations are not, like any individual, entitled to commit
treason
with impunity.... no matter how important profit is, to some self
centered investors...

Strong words Gene. I always believed you were more thoughtful
than
that (unless you are being spoofed of course, in which case I
apologize).

Someone has to explore for this oil, pump it, refine it and
deliver it
to us. There has to be a profit in that to provide the incentive
to
find and pump more of it, just like any other business or any other
product.

What about the farmers? They also supply an essential product
wouldn't you agree? Right now they are reaping sky high profits on
corn because our government thought it was a good idea to burn
ethanol
as fuel. Should we accuse the farmers of treason for making
increased profits on an essential product?


Yes, someone has to do it, and making a profit is important.
However,
making a profit should not be and cannot be allowed to destroy the
environment and kill people. Every business I know of has to abide
by
regulations that go beyond the day-to-day operation of the corp.
There
is nothing wrong with regulating an industry that can do the kind of
environmental damage we've witnessed.


What about farmers? The large agri-business' don't need subsidies,
just like big oil doesn't need them. That should end.

We cant herlp you. Talk to your crongress critters.