Do you think thats too much profit? Do you think theres anyway to get the OPEC nations to cut the cost of a barrell? Should we buy oil from non-opec nations who will sell it to the US for cheaper than opec ?
2007-07-26 05:32:13 · 7 answers · asked by I race cars 4 in News & Events ➔ Current Events
Even though the information in your question is incomplete for an accurate answer, I have been following this story and the company. The answer is Yes, the American public is getting screwed. Their profits are also at record levels.
They have many sources of revenue, but the thing that is really screwing the public is in regard to the fluctuation in the price of gas. When oil goes up, the price of gas instantly goes up (even though the gas on the market was made from cheaper oil). When oil goes down, gas goes down over several months. These tactics are questionable at best and have contributed to these record numbers.
2007-07-26 05:43:07 · answer #1 · answered by mark 7 · 0⤊ 0⤋
I'm a little torn on this.
On the one hand, it's not illegal to show a profit. The stockholders who collect dividends from that profit will most likely spend it, which will help the economy.
On the other hand, the average Joe is the one PROVIDING much of that money, and it's really hurting people's budgets. Why else is consumer debt at record levels?
I suppose the long-term answer is to get serious about renewable energy. At the very least, it would decrease the amount of money that ends up in the pockets of people like Al Qaeda and Hugo Chavez, who hate everything that we stand for.
2007-07-26 14:00:48 · answer #2 · answered by ? 6 · 0⤊ 0⤋
Hypothetically, if you had an inferior product that was cheap, would you turn away customers because there was better products with more potential than yours but cost more? Many years later, your product was still inferior but now it's a good deal more expensive, almost as expensive as the other products people spurned in the past, would try to stop selling so much of your product because you were making to much money and limiting the use of other products? If you said yes to either, I would have a hard time believing you. The problem is not in the producer/proveyer of inferior products, it's with the consumer, the real power base in any free market economy. Once again, hypothetically, if people were so upset about what is happening with the environment and U.S. foreign energy dependence, they would make serious lifestyle and budget changes to affect a change, one consumer at a time, in our economy. The only problem I see with my argument is the possibility that the average consumer does not understand that we have this power.....
2007-07-26 12:49:49 · answer #3 · answered by Stoic fool 2 · 0⤊ 0⤋
Was the total sales volume and the percent of earnings included? Don't you think that is important?
We are part of the Global economy and have to compete with world demand.
If you cornered the market on butter and the world paid higher prices, would you sell it cheaper to the US, or any other country?
Pure economics, friend. Simple as that.
Side note. 07/26/2007
Just learned that Carpet fibers will soon be manufactured from Corn Oil.
What do you suppose will happen to corn prices in the near future? These kind of subs may affect oil pricing.
2007-07-26 12:44:48 · answer #4 · answered by ed 7 · 0⤊ 0⤋
No, I don't really care how much profit a company makes.
I am concerned with making my way through life, not about what other people are doing.
If you would like to improve the energy cost situation in the U.S., organize some sort of Legal Team to go out and sue all the organizations who have successfully hired their own lawyers to keep you from benefiting from the oil deposits under the soil of your own land. Sue them out of existence which is what they are attempting to do to you. Use the same weapon against them as they are using against you (lawyers/judges).
If some other nation ever took control of your Country, they would immediately begin harvesting those assets and probably just laugh themselves into oblivion for the stupidity of the previous land occupants.
2007-07-26 13:37:02 · answer #5 · answered by mark623112 4 · 1⤊ 0⤋
Nope
I suggest you buy their stock.
There is only one way for OPEC to cut prices is to produce more.
We could start drilling off the coast of FL and CA but you know that will never happen.
This is all about supply and demand we keep restricting the supply and our demand keeps going up.
2007-07-26 13:04:57 · answer #6 · answered by Anonymous · 2⤊ 0⤋
Umm, there is a difference between profit and earnings. A simple business person would be able to tell you that. The simplest equation would be profit (or loss) equals earnings minus costs.
They could have earnings of $1,000,000,000,000,000,000,000,000,000,000,000,000,000,000 and still end up with a loss.
2007-07-26 12:36:12 · answer #7 · answered by A.Mercer 7 · 0⤊ 0⤋