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Crude Hits $70 a Barrell


Voted4Dubya

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$36.6 Billion (yeah, thats billion) in profits for 2005. Oh yeah, I'm sure thats going in R&D. And I'm sure Big Oil wants the price of crude to fall too. The energy market is the only market I know of that operates on futures, of course, I'm not an expert on economics by any means, and don't claim to be.

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No, I don't want socialism. How about capitalism with a conscience? Obviously Big Oil can afford to down on its prices. As for the US carmakers, they will find out soon enough they will either need to go down on their prices or make a better car as more and more imports are being bought.

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there have been several e-mails going around saying dont buy gas on certain days...everyone knows that will not make a difference...the latest one going around is trying to get people to not buy exxon or mobile...they claim this will make them drop their prices and then start a price war....i wonder if it would work????

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Look at what we pay for a gallon of milk, or soda, or bottled water. Take a look at what countries in Europe pay.

 

Sure, the oil companies could lower their prices on gas. The federal government could also lower the tax, state gov'ts could lower the taxes as well. Regulations could be eased.

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Let's talk a little bit about the "obscene profits" these oil companies supposedly make. Setting aside the fact that these businesses already pay an arm and a leg in taxes as it is, ("Exxon, ConocoPhillips and Chevron paid a combined $44.3 billion in corporate income taxes in 2005"), what these liberals don't tell you is that because of the size of these oil companies, they can make enormous sums of money, and still not be raking in as much, percentage wise, as businesses in other industries.

 

Just take a look at this article about oil company profits that was in the WAPO last year and you'll see what I mean:

 

 

"For example, Exxon Mobil's gross margin of 9.8 cents of profit for every dollar of revenue pales in comparison to Citigroup Inc.'s 15.7 cents in 2004. By percentage of total revenue, banking is consistently the most profitable industry in America, followed closely by the drug industry.

 

Altria Group, the maker of Marlboro and other cigarettes, made 22 cents for every dollar of revenue in 2004, and pharmaceutical company Merck made 25.3 cents for every dollar of revenue in 2004.

 

By other measures, such as profit per employee, return on invested capital and free cash flow, Exxon Mobil is nowhere near a standout."

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Had gas prices kept pace with other products over the past 30 plus years you wouldn't even bat an eye at $3.00 a gallon gasoline. The profit margin the oil companies earn on a gallon of gas pales in comparison to the amount of federal and state taxes that have been tacked onto the price by politicians during that same time period.

 

Congress is as much to blame as anyone for the increased prices because of environmental regulations and taxes. The Dimocrats have fought increased production, increased refining capacity and additional exploration. They are the first to scream about high prices, yet oppose drilling in ANWAR and other places.

 

It's easy to point the finger and blame the oil companies for high prices, but do they deserve all the blame? I don't think so! :whistle:

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I said "Congress is as much to blame as anyone for the increased prices because of environmental regulations and taxes." That's both sides of the isle. :whistle:

 

... and it's true that most of the liberal environmental wackos who have fought a comprehensive energy policy are democrats. That's a fact! :w00t:

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Guest Sideliner
Originally posted by BearBryant

Good for them. I probably should be riding a bike anyways.

 

Whining about it changes nothing. We live in a capitalist society. Would you rather have socialism?

 

Some basic things such as gasoline, electricity, and natural gas SHOULD be controlled by the government. Call it Socialism if you like but it works better that way!

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Gas, electricity, and natural gas should NOT be controlled by the government. The free market is doing just fine. Look at how much government controlled gas costs in Europe. A LOT more than it does over here. Socialism in any form is pure evil.

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Voted

 

What was the MARGIN the Exxon made?

9%

 

What was the average profit margin for the entire oil industry?

8.5%

 

Is that too high?

 

Should we put a cap on it?

 

What percentage of the price of gas goes to the state and national government?

 

Is it less than the profit margin?

 

Information will set you free!

 

Will you stop supporting ANY business that makes more than 8.5% profit margin?

 

If not... your logic is flawed!!

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Guest CNOrtega

There are some things that maybe should need to be socialized, but gasoline is not one of them. And I really think Jesus has bigger fish to fry than to argue Socialism and Capitalism. And the Mavericks are going to beat the Spurs in round two.

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Whatever dude, Duncan will running cirlces around Dirk all day even with a bum ankle. Bowen will shut down whoever he is on. And its time Manu-Mania again. Of course, the Mavs are on this year like never before, and if anyone supplants the Spurs as the best in the west, it should be the Mavs.

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Socialism was pure evil to me before LONG before Rush became a hot item on the talk show circuit. Anything that teaches that you should take someones hard earned money and give it to someone else is evil. If I choose to help the less fortunate, so be it, but it should not be dictated to me to do so. Anyone younger than 30 who is not a socialist has no heart. Anyone over 30 who IS a socialist has no brain. Very wise words.

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