Quote:
Originally Posted by stripersnipr
How much profit should they be making? 10, 20, 30 %? What percentage should the government be making off of it?
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Oh, there you go again with your talking points.
Personally I don't care how much they profit but I do care with what they do with that money. Big marketing budgets to con the people into believing the oil giants are investing in renewable fuels doesn't do much for my confidence in the future.
And the economy of scale thang don't fly when we're talking about executive pay. Sure they deserve to get (even more) rich, they're delivering shareholder value after all, but $50 Million a year with a $400 Million retirement package (Exxon's chairman) is pretty obscene when you've got working class people having to suck up that extra cost at the pump.
Today, the oil companies are punching holes as fast as their supply chain will allow. There certainly is some trickle down from this as the equipment providers, many of them good old US businesses are raking the cash in. I've been working with some companies that have 10+ year backlogs for oil production and exploration equipment. This certainly looks good on the old annual report, assuming the rug doesn't get pulled from underneath you.
The cost of gas doesn't hurt me yet. It's such a small % of our household income I can take a few bucks more a gallon without it impacting my lifestyle...but I'm much more concered about my son and how prepared this Country is going to be when things are a lot different than they are now.
-spence