2006 record profit
02-01-2007, 11:09 AM
#1
Gets Weekends Off
Thread Starter
Joined APC: Jan 2006
Posts: 345
2006 record profit
http://www.msnbc.msn.com/id/16922298/
EXXON made a record setting profit of $39.5 billion in 2006. You know oil is over priced when ONE oil company makes 40 billion in profit for the year.
Kinda makes Americans $231 million profit look like chump change.
EXXON made a record setting profit of $39.5 billion in 2006. You know oil is over priced when ONE oil company makes 40 billion in profit for the year.
Kinda makes Americans $231 million profit look like chump change.
02-01-2007, 11:24 AM
#3
Gets Weekends Off
Joined APC: Dec 2005
Position: FO, looking left
Posts: 1,057
Not advocating socialism here, but how about a 70% tax on the profits that ARE NOT reinvested into oil exploration and drilling.
The United States has the largest known reserves of oil shale in the world (At about one terabarrels (thats a million, million barrels), it is larger than any of the countries in the middle east). Oil shale is more expensive to produce than regular oil, but that is because the technology has not been adequetly invested in. Take $40 billion dollars and reinvest something like $10 billion of it into technology to turn oil shale into oil, and the United States will not have to import a single barrel of oil for hundreds of years!!
I don't mind the high profits. I would rather that money be reinvested into something that is beneficial for every american.
The United States has the largest known reserves of oil shale in the world (At about one terabarrels (thats a million, million barrels), it is larger than any of the countries in the middle east). Oil shale is more expensive to produce than regular oil, but that is because the technology has not been adequetly invested in. Take $40 billion dollars and reinvest something like $10 billion of it into technology to turn oil shale into oil, and the United States will not have to import a single barrel of oil for hundreds of years!!
I don't mind the high profits. I would rather that money be reinvested into something that is beneficial for every american.
02-01-2007, 11:55 AM
#4
With The Resistance
Joined APC: Jan 2006
Position: Burning the Agitprop of the Apparat
Posts: 6,191
Let's see, Uncle Sugar(State, Local, and Federal) takes over 40 cents a gallon and Exxon makes 10 cents a gallon. Ungle Sugar takes no risk and produces nothing and you want more tax so that consumers can pay a higher price at the pump, since any cost increase will be passed directly to the end user.
Oh, that's a good plan.
Oh, that's a good plan.
02-01-2007, 12:05 PM
#5
Gets Weekends Off
Joined APC: Nov 2005
Position: 757 Capt
Posts: 2,418
Of course we should take all the mean oil companies money. After all, 40B of profits on sales of 378B totally excessive. Shoot, thats an 11% profit margin. of course that's the same profit margin apple makes, so maybe we should tax apple's grossly excessive profits at 70% too
GE's profit margin is at 13%, maybe we should tax GE at 75%.
BOA profit margin is at 31%, how about 75% up to 13, 85% up to 20, and everything above that
How much money do these greedy companies really need to make?
And since we're doing that, maybe we should ask our representatives to get to work on the income inequality as well
The median income in the us for 2005 was $46,236. To be fair, let's create a tax that will fairly distribute the overall productivity of the US.....how about, 35% on the income 47-94k
50% on 94-138k
70% 138-184k
85% above 184
GE's profit margin is at 13%, maybe we should tax GE at 75%.
BOA profit margin is at 31%, how about 75% up to 13, 85% up to 20, and everything above that
How much money do these greedy companies really need to make?
And since we're doing that, maybe we should ask our representatives to get to work on the income inequality as well
The median income in the us for 2005 was $46,236. To be fair, let's create a tax that will fairly distribute the overall productivity of the US.....how about, 35% on the income 47-94k
50% on 94-138k
70% 138-184k
85% above 184
02-01-2007, 12:16 PM
#7
Gets Weekends Off
Joined APC: Sep 2006
Position: SWA F/O
Posts: 145
Originally Posted by Linebacker35
http://www.msnbc.msn.com/id/16922298/
EXXON made a record setting profit of $39.5 billion in 2006. You know oil is over priced when ONE oil company makes 40 billion in profit for the year.
Kinda makes Americans $231 million profit look like chump change.
EXXON made a record setting profit of $39.5 billion in 2006. You know oil is over priced when ONE oil company makes 40 billion in profit for the year.
Kinda makes Americans $231 million profit look like chump change.
02-01-2007, 12:45 PM
#9
Gets Weekends Off
Joined APC: Dec 2005
Position: FO, looking left
Posts: 1,057
Here is a link to a thread about a year ago (See post #17). See me defend oil companies.
http://www.airlinepilotforums.com/sh...?t=2835&page=2
I don't mind paying $2.00 a gallon for gas. I pay more for milk, orange juice, etc... And I don't mind these companies making $40 BILLION dollar profits. I think it is great for the oil industry.
But our country is facing serious problems. HALF of our HUGE trade deficit comes from purchasing oil! And where do you suppose most this money goes... THE MIDDLE EAST!
Where do you think Iran is getting money to build a nuclear bomb? OIL.
Where do you think all these terrorists are getting money for guns/ammunition/rocket propelled grenades/surface to air missiles? OIL
Where do you think Hugo Chavez (Venezuela) is getting money for his weapons? OIL
Here is a list of countries with the largest (proven) oil reserves in the world:
1. Saudi Arabia
2. Canada
3. Iran
4. Iraq
5. Kuwait
6. United Arab Emirates
7. Venezuela
8. Russia
9. Libya
10. Nigeria
Gee, most of those are sworn enemies of the United States. HMM! And most of these countries are members of an organization called OPEC which we all feel so strongly about. They have a choke hold on our economy. All they need to do cut production just a little, and then oil prices go up, gas prices go up, our economy slows down, discretionary spending goes down, airlines especially take it up the @$$. Houston... We have a problem!
I am a conservative, but even so, I know a BIG reason why we are in the Middle East is to protect our country. Not just against terrorists, but against any supply disruptions in oil.
If there is anything our country learned from September 11th, it is not just that our freedom is vulnerable, but the fact that our economy is vulnerable! It is a lot easier to attack. If we have no dependence on foreign oil, we wouldn't have to fight so much in the Middle East.
It is in our national interest to reduce our dependence on foreign oil. PERIOD!
Our economy would not be subjected to sudden swings in oil prices.
We would not be funding all these countries that are our enemies.
And we could stop fighting half of these wars in the Middle East!!!
Ok, so how do we reduce our dependence on foreign oil. There are several ways, but one simple way is to produce it all domestically. Yes, the United States has a finite amount of proven oil, but we have the WORLD'S LARGEST supply of oil shale. One Terabarrel (or a million, million barrels, enough to supply our country for well over 100 years) Oil shale is oil that can be produced given either 1) high enough prices to justify using it, or 2) an advance in technology to make it cheaper to produce.
Here is where my comment about reinvesting HUGE oil company profits into technology. If we invested 1/4, just 1/4 of the $40 BILLION dollars ExxonMobile made this year, we would be able to develop oil shale at the same cost as conventional oil. And our problems would be solved.
I believe these oil companies need a motivation to reinvest this money into technology that makes oil easier to find, cheaper to produce, and better for our country. So say, hey oil companies, any profits over $1 BILLION dollars we will tax at 70% UNLESS you reinvest it back into technology to do what I mentioned above. Ultimately this investment will NOT be passed along to the consumer because it will lead to cheaper/easier/better ways of finding/producing oil, and that will translate into lower prices. Not to mention OPEC, Iran Venezuela, etc... jacking up prices whenever they feel like it.
Invest these profits! Turn it into something useful. It is good for all Americans. Ok that's my rant. Let me leave you with a useful thought.
Science call solve problems a lot easier than politics can!!!
http://www.airlinepilotforums.com/sh...?t=2835&page=2
Originally Posted by ryane946
I am as mad over high oil prices as anyone, but it is a misconception to think that oil companies are "gouging" everyone. Oil is a commodity traded on the open market, and prices are governed by supply and demand.
It is easy to look at an oil company that made a billion dollar profit and say they are overcharging. But that several billion dollar profit come on over $100 billion dollars in sales. Oil companies take a % percentage of profit from oil sales, and naturally as the price increases, the % percentage becomes a larger chunk of $$ money. Oil companies are monster corporations (remember they are vertically integrated) that makes huge profits, but look at their profits as a percentage of revenue, and it is like 8%. Imagine a pizza company, it cost them $0.92 cents to make a pizza, and they sell it for $1.00. Ya right!!! Most companies double or tripple the "cost" of the product and sell it for that price.
It is easy to look at an oil company that made a billion dollar profit and say they are overcharging. But that several billion dollar profit come on over $100 billion dollars in sales. Oil companies take a % percentage of profit from oil sales, and naturally as the price increases, the % percentage becomes a larger chunk of $$ money. Oil companies are monster corporations (remember they are vertically integrated) that makes huge profits, but look at their profits as a percentage of revenue, and it is like 8%. Imagine a pizza company, it cost them $0.92 cents to make a pizza, and they sell it for $1.00. Ya right!!! Most companies double or tripple the "cost" of the product and sell it for that price.
But our country is facing serious problems. HALF of our HUGE trade deficit comes from purchasing oil! And where do you suppose most this money goes... THE MIDDLE EAST!
Where do you think Iran is getting money to build a nuclear bomb? OIL.
Where do you think all these terrorists are getting money for guns/ammunition/rocket propelled grenades/surface to air missiles? OIL
Where do you think Hugo Chavez (Venezuela) is getting money for his weapons? OIL
Here is a list of countries with the largest (proven) oil reserves in the world:
1. Saudi Arabia
2. Canada
3. Iran
4. Iraq
5. Kuwait
6. United Arab Emirates
7. Venezuela
8. Russia
9. Libya
10. Nigeria
Gee, most of those are sworn enemies of the United States. HMM! And most of these countries are members of an organization called OPEC which we all feel so strongly about. They have a choke hold on our economy. All they need to do cut production just a little, and then oil prices go up, gas prices go up, our economy slows down, discretionary spending goes down, airlines especially take it up the @$$. Houston... We have a problem!
I am a conservative, but even so, I know a BIG reason why we are in the Middle East is to protect our country. Not just against terrorists, but against any supply disruptions in oil.
If there is anything our country learned from September 11th, it is not just that our freedom is vulnerable, but the fact that our economy is vulnerable! It is a lot easier to attack. If we have no dependence on foreign oil, we wouldn't have to fight so much in the Middle East.
It is in our national interest to reduce our dependence on foreign oil. PERIOD!
Our economy would not be subjected to sudden swings in oil prices.
We would not be funding all these countries that are our enemies.
And we could stop fighting half of these wars in the Middle East!!!
Ok, so how do we reduce our dependence on foreign oil. There are several ways, but one simple way is to produce it all domestically. Yes, the United States has a finite amount of proven oil, but we have the WORLD'S LARGEST supply of oil shale. One Terabarrel (or a million, million barrels, enough to supply our country for well over 100 years) Oil shale is oil that can be produced given either 1) high enough prices to justify using it, or 2) an advance in technology to make it cheaper to produce.
Here is where my comment about reinvesting HUGE oil company profits into technology. If we invested 1/4, just 1/4 of the $40 BILLION dollars ExxonMobile made this year, we would be able to develop oil shale at the same cost as conventional oil. And our problems would be solved.
I believe these oil companies need a motivation to reinvest this money into technology that makes oil easier to find, cheaper to produce, and better for our country. So say, hey oil companies, any profits over $1 BILLION dollars we will tax at 70% UNLESS you reinvest it back into technology to do what I mentioned above. Ultimately this investment will NOT be passed along to the consumer because it will lead to cheaper/easier/better ways of finding/producing oil, and that will translate into lower prices. Not to mention OPEC, Iran Venezuela, etc... jacking up prices whenever they feel like it.
Invest these profits! Turn it into something useful. It is good for all Americans. Ok that's my rant. Let me leave you with a useful thought.
Science call solve problems a lot easier than politics can!!!
02-01-2007, 12:59 PM
#10
With The Resistance
Joined APC: Jan 2006
Position: Burning the Agitprop of the Apparat
Posts: 6,191
Let me leave you with a useful thought. Free markets tend to bring out the cheapest, most effective solutions long before a scientist can get a pencil out of his pocket protector.
When an invention or scientific advance proves viable and economical, it will be embraced. You cannot legislate technology.
When an invention or scientific advance proves viable and economical, it will be embraced. You cannot legislate technology.
Last edited by jungle; 02-01-2007 at 01:05 PM.
Thread
Thread Starter
Forum
Replies
Last Post
