All of this post is emotionally charged. No facts. I want to pose a question to you. If we just got a 10% profit sharing check of say $50,000 would you be saying we should give some back? I don't think so. You don't work for an oil company so why would you say they've made profit on your back? You know that bottle of water you get in the cockpit? I bet you'd pay 1.99 at the store and not think twice about it. Or, 1.29 for a bottle of 16oz of Coke. Why do you think THE most valuable commodity on the planet should be so cheap? If you owned oil rights to an oil well, I wonder if you would scream as loud. BTW, there are oil fields all over Crawford. Your play.

 

ewrbasedpilot,
Sadly but often predictably, You draw the wrong conclusions and sneer at us for presenting facts to a serious problem. We all are concerned like you and Mike734. We don't like it either. We all want responsible action. We also don't want the environment trashed, dirty air and water, etc. However, punishing oil companies in the apparent way you desire is mob rule mentality supported by many organizations and politicians solves nothing except to further their own agendas. It does not solve the underlying crisis. It won't even make you feel good for very long <g>. Why? Because the market is not completely in their control. I don't have the answers, but clearly know that "punishing" oil companies is counterproductive. Intellectually, most know this yet still want "revenge". We don't allow oil companies to produce more refineries, we won't let them drill in places known to have oil. The export market has a line of customers for their product that grows daily, and somehow it is the oil companies fault that they make money on a gallon of gas at a profit margin that is in line with other business'. The solutions are very complex and require clear headed collaboration and leadership by many entities. Govt, corporate, and private.

 

I guess you think our management (based on what I'm reading here), has every right to make the millions they do (they earned it right, so you have no reason to complain?). I don't buy coke to get me to work, nor to move hundreds of people across the skies. Concerning oil being the most valuable? I don't think so. I think water is. I can live without oil, not without water. I also happen to own Exxon stock, but I still don't think what's happening is right. Their ex-CEO just walked away with a pension that's equivalent to probably every pilot at CAL put together. Oils price spike in the past few years is out of line with its demand. BTW, why are WE paying for increased demand in China? Shouldn't THEY be paying more for it? It's like the housing market. Look what's happening now. Oh, the prices were fine until the bottom fell out. Mark my words.............the oil companies are going to think all is well till the bottom falls out. I won't be shedding any tears for the event either. They're sitting back all fat and happy now, but pretty soon something will come along and knock the wind out of their sails. (Even the Saudis are saying the price is out of line), but it's the SPECULATORS that are causing the price spikes every day, NOT the demand. Oh, and speaking of profit sharing, had oil not been the price it was, don't you think you'd have been getting a much nicer check? Just wondering......

 

Riddle me this then...

How did OUR oil get under THEIR sand?

Perplexing!

 

Aliens...

 

SALTYDOG,
Thanks for the response. I agree with what you're saying, but I find it somewhat misleading that at $50 a bbl, oil companies were making a killing (just last year I might add), and at $100 a bbl, they are STILL only making 10%? I find that hard to believe. Refining costs haven't gone up that much and no one can make me believe they have. The oil companies and speculators are using every little tidbit of news to drive the prices up, yet their are NO REASONS for the prices to be where they are. No hurricanes last year, so why didn't the "$10 hurricane" premium come off? The airlines are constantly *****ed at for such "outrageous" prices, yet they are lower than they were 20 years ago. It reminds me of some of our passengers.....they have NO problem paying Shaq $20,000,000 for three years of basketball, but will balk at you and I working our collective butts off to make $120,000 a year while hauling them around the country. I can't believe so many are thinking the oil company's making the profits they are are okay with them. It's hurting EVERYONE except those in the industry. Don't get me wrong, making a profit is fine, but don't shower your execs with $100 million pensions off everyone in this country is not my idea of the "american way".

 

Simple economics.
Second, yes. they are paying more for it, then they charge American companies higher prices who import their Chinese produced goods like India does.

 

Corporations don't pay tax - they just pass it on to the consumer, especially in the oil/gas industry. If Exxon didn't have to pay tax our gas prices would be less. If the government didn't tax gas our gas prices would be less.

Point being even though Exxon pays lots of taxes, consumers effectively pay the tax (in this case we pay 41% more for fuel than if Exxon didn't have to pay tax).

I run my own small business like this too - I figure out how much I need to make per hour to pay my salary and my taxes. That's my hourly cost. If I didn't pay taxes I could reduce my hourly cost by XX%.

 

I think it's sad that we're supposedly over fighting for democracy.....and NOT the oil. You seriously think we'd be in Iraq fighting if they were a major wheat exporter/grower? I think not. Personally we should be getting EVERY DAMN DROP of oil in Iraq for FREE. God knows our country has paid dearly for it. (Sorry for the political charge)

 

I agree with you. Why? Capitalism requires ethics to truly succeed. Unethical airline managements come to mind as well.