Should the media be more vocal over oil companies' record profits?

Answer 1

Absolutely. CEOs of oil companies are crooks, pure and simple. A sizeable chunk of the average person's paycheck goes to gasoline and heating oil, and it's a struggle to make ends meet for some, while others have to make lifestyle changes, doing without things that they are used to having or doing. Oil company CEOs are making tens or hundreds of millions of dollars at our expense, using any and every excuse to raise the price of oil and gas. Quite frankly, they control the country and economy. Their salaries and the profits of the companies they run should be featured on the news each night, much like a stock report.

Answer 2

The oil companies profit percentage has only increased from 8.6% to 9.4% over the last couple decades. You can thank the law of demand for their windfall profits. China, India and other countries along with our V-8 society has driven the demand to an all time high. 9.4% is not too big a profit margin when you look at the health care companies profits, which have quadrupled over the last couple years. Still some one has to: find oil 5 miles below the ground, drill for it, contain it, ship it back here, build a refinery (heavily regulated, totally unprofitable) refine it, re contain it, ship it to stations to put in your car.
I don't own stock in oil and have no interest in the business. I've just read both sides of the story.
One part of the story you don't hear is the Governments windfall profit in taxes on the oil. Standard oil paid 23 billion last quarter alone what does the government do with the money?

The media should be more vocal, by telling ALL of the story.

Answer 3

Let's see: if you sell a gallon of gas for $1.00 at a 10% profit margin, you make 10 cents. If you sell that same gallon of gas for $3.00 a gallon, you make 30 cents at the same 10% profit margin. And, that's without any real additional refinery costs, distribution costs, or other added expenses. So the oil companies, as much as they cry about it, are laughing all the way to the bank while American consumers get gouged at the gas pump. YES, the media - if it had any gonads - would make that Headline News every hour of the day, every time the price of gasoline goes up another penny. But the media is just like all the other big-business whores, beholden to the Bush administration and our corrupt political system that greases the palms or Republicans and Democrats alike. So the media isn't about to make a big stink about it; they, too, enjoy obscene profits thanks to an naive consumer and a cooperative, compliant political system. -RKO-

Answer 4

It's fair to point out that profits are at record levels, but as a percentage of revenue, oil companies make less than a lot of other businesses (banks come to mind). It's easy to get all bent out of shape over high gas prices, believe me, I don't like paying 'em either, but it's simple supply and demand.

Now, let me turn it around. Suppose you are a business owner. You have a product that's flying off the shelf. You raise the price, because you can't keep up with the demand. But the product continues to fly off the shelf. Despite several price increases, demand does not abate. You're now making one heck of a profit. Do you think the media should get all over your case?

Answer 5

Yes they should. It's an awfully big coincidence that gas has risen to 3.00 per gallon and the oil companies made the largest quarterly profit of and American company in history at the same time, yet the gas price isn't related to to large profits....gimme a break.
And even worse, the government is OK with this

Many people are hurting financially because of this

Answer 6

They couldn't be any more vocal -- they would bore us to death.

Media managers now consider news as entertainment -- and they hire newscasters that are usually politically correct -- and are ignorant of economics and weak on math -- and don't care if they mislead viewers.

Did you know that taxes on gas have been more that twice the profits for the last twenty years? Wasn't easy to find that info (google, yahoo, etc) -- you try it.

Designer water that most people buy (more convenient than putting water into bottles yourself) is probably still more expensive, ounce for ounce, than gas. Supply and demand set prices in a free society, not politicians.

Answer 7

Yes they should. The oil companies have been irresponsible with the environment and made a profit at the loss of the planet.

Answer 8

Why would they? The majority of your media outlets cater to the right. They have a hard on for Bush (he he) and Cheney and guess what? They are both ex-oil men. Why would these former representatives for the oil industry allow for their friends to miss out on a profit.

Answer 9

Yes they should but won't because the oil companies control most of what we see and hear in one way or another

Answer 10

Yes, why should they continue to make millions at our expense? Let them give up some profit for a change.