do u think the oil companies should share there huge profits with consumers.?

Question

i think since these companies are makeing huge profits they should give something back to the consumer who spends 40 50 bucks atthe pump each weak.

u saw how one of the oil company ceo crooks got 400 million in compinsation packages and stock options. my money gave him that 400 mill.

Answer 1

The best way for them to "share their profits" is to lower prices at the gas pump! If they did not charge so much, they would not make as much profit.

Answer 2

It might be kind of nice, but you wouldn't be getting the *huge* savings that you anticipate.

Take a look at this story first: http://www.npr.org/templates/story/story.php?storyId=5365439

The typical profit margin for the oil companies is around 10%. So, yes, they could give some of that back, but 10% of 3.00 is only 30 cents, which isn't really that significant. And doing so would probably cause some shortage because they have no incentive to give you gas at no profit.

The CEO's stock options are largely irrelevant. You're talking about Exxon, which has sales of 370B over a year. 400M is taken from the shareholders because it's stock issued, not from you as a consumer at the pump.

Answer 3

No. They are in business to make money. If you don't like it, stop buying their product and start riding a bike, walking, or get a horse. Should Walmart have given back their huge profits to comsumers when they were the largest corporation in the WORLD the last several years? As already mentioned, since the taxes that the government gets is more per gallon than the oil companies get, why don't you gripe about that?

Answer 4

they do in the form of dividends for shareholders, if you own mutual funds, you probably own some oil stocks. profits are also re-invested in the economy. the media likes to report oil profit in billions of dollars but not the percent return on investment. how much money does the oil company have invested to earn the billion or so dollars. if they have20 billion invested and make 1 billion, that is a 5% return, no different than you buying a $2000 cd for one year and making $100 at 5% interest

Answer 5

I think there should be a really big charcoal grill and we should take all the oil company executives and have a big cook-out.

More seriously, at least half of the oil company profits should be appropriated and plowed directly into developing renewable energy sources.

When we, the consumers were blamed for being "addicted" to fossil fuels, my blood pressure jumped about twenty points. That's like accusing the starving Irish people of the horrible famine days of being addicted to potatoes.

Answer 6

nope...
Because if any other businesses were making that kind of profit would you expect them to give you money. And the consumers are why they are making so much money any way. We as Americans need to look for other sources of fuel besides gas. But till that happens the oil companies will make huge profits. If I owned oil would love this time because i would also make big profits too.

Answer 7

The federal tax, and the state tax on each gallon of gas sold is much more than the profit the oil companies on a gallon of gas. Yet congress have the gall to make oil executives explain their profit. I think the federal and state governments should give something back.

Answer 8

Absolutely not. You make it sound like the "huge profits" goes into someone's pocket for buying beers and whores. That money is reinvested into finding more oil and increasing production to keep prices low. Without it, oil prices would skyrocket to what they commonly are in Europe (or even Canada). Further, oil profits are cyclical, feast or famine. Today's profits keep the oil companies in business next year when profits are down. That keeps gas in your tank.

If you are looking for a place to cut gas prices, cut taxes. Our government takes nearly twice as much in tax as the oil companies take in profit (and that's in a boom year, lol).

Also, don't vote democrat. The reason we have such high gas taxes is because the dems put them in place under Clinton (of course, Bush has not worked to repeal them, lol). One thing that is relatively unknown is that Kerry promised to increase these a full 50 cents a gallon to "encourage people to conserve". Al Gore wants to add much much more. Think about this the next time a story breaks about Al Gore's toxic waste dump polluting a community's ground water (yes....mister environmentalist is a dirty corporate toxic waste polluting scumbag, in reality).

Answer 9

Yeah, but I also think people in hell need ice water, and we have about the same chance of getting something back from the oil companies.......GREED is an ugly word, but I have faced the fact that oil magnates are GREEDY.........They will get theirs in the end, I guarantee it.........Take care

Answer 10

Should they? Not a bad idea.

Will they? Yeah right!