richjoy

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  • Who's Really to Blame for Rising Oil?
    Well Jason, as you know, at 12:02pm, I responded to your posting in which you cite "astounding" $1300/second revenues for the "largest oil companies"...you went on to say "all our hard earned money will be sitting on the books of XOM, CVX, and XOP". (You also said big oil has the ability to lower gasoline prices, and you would not if you were them).

    I asked that you provide us some perspective comparing big oil's % of net profits to those of other large companies (like GE, Microsoft, IBM, and Apple) over the last 3 or 5 years, so we can all better determine if big oil's profits are as outrageous as you have told us to believe.

    At 01:22 PM Sawgill added that "large oil company profits compared to S&P average profits are within 1% of each other".

    So, we now have cause to wonder if you know what you are writing about...therefore, it would seem reasonable for us to expect that your next posting will address a perspective comparing the profits of these oil companies to other large companies.

    Thank you.

    Isn't that fair?
    May 11 19:03 pm |Rating: 0 0 |Link to Comment |View article
  • Who's Really to Blame for Rising Oil?
    Well Jason, your rant has caught my attention.

    OK, gasoline prices are high, and I certainly didn't like paying $3.45/gallon at Walmart yesterday. But your rant about "scary" gasoline prices would be more credible if you can convince us that future gasoline prices of $5 to $6 a gallon are scary...in view of the fact that gasoline prices are already $8/gallon in many other countries (most of which have less disposable income than we have)?

    Yes, it is not a good situation and will lead to more food inflation, but we can do as others have and accommodate it. Certainly for those complaining the most (if they really, really, mean it), your lifestyle change suggestions can be helpful to them.

    p.s. Now that you have joined the ranks of "big oil haters" and cited their large sales and profit numbers without perspective...how about you now provide some perspective -- compare big oil's net profit margins (perhaps the last 3 or 5 years) with those of GE, Microsoft, IBM, Apple, who also have impressively large dollar sales and profit margins?...let's see how the net profit margins of XOM, CVX, and XOP compare to others.

    I think Congress has provided oil companies large and small some unreasonable/inappropr... incentives in the past (and I think they should be carefully examined and adjusted or eleminated). But also please tell us how more taxing of oil companies is going to increase supply and lower prices (since it has never worked in the past)?
    May 11 12:02 pm |Rating: 0 0 |Link to Comment |View article

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