http://www.exxonmobilperspectives.com/2011/04/28/exxonmobil-earnings-the-real-story-you-wont-hear-in-washington/
Unfortunately, we the people have been taken to the cleaners by this type of supply side antics for at least the last 40 years, and there is no end in sight. I really hope you read the above article, and the half-assed defense of that industry which lies therein. So, the industry is taking money from all over the world. Then blaming our weak dollar for the price increases and the fact we don't self sustain by digging in our own nation to find oil.
So, my company makes $10billion in PROFIT per quarter, and I am trying to tell you that I can't take a 10% tax on my profits or all those 12,000 plus workers must go. One word for Capitalism... Ludicrous. That amounts to $833,333 for each of those workers. When do we call BS on these people? A 10% tax increase on $40 billion for just one of the oil giants would produce roughly $4billion a year in revenue for all of us to enjoy. We would enjoy it in the form of better roads, more jobs in other industries, and a tax source we sorely need. Or a really novel idea, PAY DOWN THE DEBT!!! I have a few questions about this process we are supposed to believe in that has been laid out by this individual working for a giant who leaches from us all.
1) If a gas station buys 2 loads a week of gas. The gas is in the ground and paid for. Service paid for upon delivery. How can what is already in the ground increase or decrease in cost? The price was set by the amount you sold me the tanker delivery for, so that means every time the wind shifts every other day, then the prices would not change daily, but would keep exactly the same until the next shipment of gas shows up to my station. Then I charge the public by what I was charged for this last tanker fill up at my station.
2) WTF does speculation have to do with all this? Read any energy column written in the last 10 years and you will see and hear there is no way these people should have jobs. They set resource prices, costs, and buyers all on a whim.
3) Does anyone else smell the rotten justification coming from this article? How can this person justify these profits made off an unstable world economy? Is it a "get all you can get while the getting is good" policy?
I service the oil industry in a big way with my current job, and as much as we get profitable every time you pay more at the pump, I get tired of watching a group of ultra rich folks blame us for their inability to tell the truth and lay out a plan for the future of energy supply and demand. Nowhere do I see the writer talk about the need for new energy sources (not based on oil) or needs for the country to be self reliant and get off foreign oil. it is basically stated in a matter of fact way that this is the way things are and we should love big oil for being so nice to us as a nation and allowing us to use a resource that should be state owned and harvested so we all get a cut of the over all profits just like they do in ALASKA... How did they get those checks every year? Ms. Palin decided it was a good policy to make a natural resource a socialist endeavor...lol Classic. Take the 10% back, and subsidize us getting to work, or at least those of us who still have jobs in this nation.
Need I go on? I look forward to comments... :)
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