Friday, October 28, 2005

Why is this man smiling? Exxon Mobil Corp. and Lee Raymond have $100 billion reasons why.

Click on the link and check out this low down, dirty, son of a...sorry getting a little carried away. This man is Lee Raymond. Why is he smiling? Well, that’s easy; he is the chairman and CEO of Exxon Mobil Corp. The reason he is smiling is because third quarter profit for oil companies has risen, even though the hurricanes have shut down some refineries and caused major problems for Big Oil. Or so we were thought.

Last year at this time, the oil industry made profits of $76.38 billion, notice that is not for the whole year, just up to this point in the year. This year the oil industry has already made a profit of $100.72 billion. What does this mean? I think it means that while many Americans are slowly being killed by gas prices, jackals like Mr. Raymond are profiting off of our misery.

If there was some way to boycott oil, I would do it, but oil is in everything. If only our government could do something to try and stabilize these gas prices, but I do not see that happening in the near future. Something has go to give because these people running the oil companies do not care about how bad this makes them look. All they think it makes them look like is rich.

Perhaps what we should do is take the extra profits they made this year and use that to help with the rebuilding of New Orleans. There is a lot that could be done with that money. Perhaps we could buy off all the Iraqis and the insurgents and quietly slip out the back door? If only it were that easy.

I do not know what could be done other than these greedy weasels lowering the price of gas. I mean when is enough too much? Is there really that big a difference between $75 billion and $100 billion? Do these men feel nothing for the common man? I believe we will find when the fourth quarter profits are even larger that the answer is no.


BRATCH said...

Personally, I believe that the only way that Big Oil will lower its prices is if the auto manufacturers put some pressure on them. The auto manufacturers are the reason why Big Oil exists. Now all of the auto makers can't sell an SUV to save their lives.

Sivart knows about this because he just traded off his Nissan Xterra.

If the auto makers can't sell their big cars trucks and SUVs, then that will put more pressure on them and they'll in turn have put pressure on Big Oil so they can sell their products.

Piccu said...

If the government would put more pressure on the automakers to find ways to fuel cars without oil than we would really be on the right track. Unfortunatly, the governemt can't afford to make big oil angry especially after taking all those dollars from them, so we are on our own it appears.

Auto makers should be looking at different ways to fuel cars for enviromental reasons as well. Once again, government does not care about what will happen to the enviroment in the future.

Even if we do somehow come up with alternative fuels, who's to say that those fuels won't be priced outrageously? If someone finds a way to make money, they will try to make all they can. While I don't mind that philosophy because it makes America America, I do have problems with those who make huge amounts of money sticking it to the rest of us.

Trent said...

So, I'm curious - are you arguing that just last year that oil companies were not greedy and were not taking advantage of consumers? If so, what exactly happened to change their behavior?

Also, it follows from your little screed, if, next year, the oil companies show much lower profits, or even a loss, that you would be in favor if subsidizing these companies. If this is not so, why the double standard?

Finally, addressing your comment, why exactly need the government get involved in alternative fuels? The person who invents/engineers a cheeper and more abundant source of energy than oil will put his foot in Bill Gates's ass on his way to the top of the list of the world's richest. One would think this would be enough of an incentive, no?

Piccu said...

I'm just a little pissed off and I really don't know what should be done. I just thought it irksome that gas and oil prices are rising and the only ones that seem to be paying are the ones who aren't making $100 billion in profit after 9 months. It concerns me just a little.

As for incentive to create cheaper fuel sources so we could become less dependant upon oil, I would think becoming the next Bill Gates would be a great incentive, but obviously it is not enough. With all the technological advances and innovations that we have attained just over the last 25 years, we can't find another fuel source? Is it more lucrative to create the next Ipod than to explore alternative fuels? We haven't come up with a way that at the least allow us to burn fuel more efficiently so that when you pay $2.88 a gallon at the pump you get a little more on the road?

I don't have the answers, I am just a guy who is wondering if anyone does and if no one does, why don't they?

BRATCH said...

To me the whole point of the situation is that the oil companies raised gas prices in the wake of th hurricanes. Then the public complained and the so-called experts tried to explain to the public that prices had to be raised because of oil refineries in the Gulf of Mexico being shut down and/or damaged and the obvious increasing demand due to the hurricanes.

When in fact, they were preying on public stupidity.

I say public stupidity because everyone went out and bought gas because of a panic that their might not be any later. I listened to radio shows were people would fill up everyday even if only a few gallons.

But guess what? If my driving habits never change and I don't drive any more than usual and I buy gas daily, it still costs me the same and I still use the same amount of gas if I only buy once a week.

That being said, the "rush" on gas would be over after 24-48 hours with the exception to the devastated areas in the gulf states. The other 45 states where gas was $3 was just gravy for the oil companies.

So the oil companies raised our gas prices indirectly under a guise that they are going to have to work harder and produce more fuel for demand.

Then after some of the worst disasters in the countries history that hit oil rigs head on in the Gulf, the oil companies showing near RECORD profits.

If they were raising their prices to offset their extra efforts to continue supplying their product to the public following some natural disasters, why are aren't we seeing their profit margins at or near what they were in previous years before they doubled the price of a gallon of gas?

According to Piccu's post, the oil industry has already made almost $25 BILLION more than last year with the 4th quarter to go.

They are raising prices because they can and even if the public wasn't stupid enough to buy into the false reasoning, what are they going to do?

Stop driving?