[brien]

Quote by: gr8fuldaniel http://www.latimes.com/business/la-f...-home-business IMHO The operative paragraph: "Pumped up by soaring prices of oil, natural gas and gasoline in August and September, Exxon Mobil alone is expected to report quarterly profit of about $8.7 billion. That would be more than what such titans as Coca-Cola Co., Intel Corp. and Time Warner Inc. earn in an entire year." Who cares if Coca-Cola Co., Intel Corp. and Time Warner Inc. doubles or triples the price of their sugar water, Processors, and ISP? We can all live just fine without it. However, We have millions (billions actually) of people who depend on fuel to survive. The profit whores are legally (?) stealing from everybody because oil prices effect the price of every product. Whaddya think?

There are several issues here to address. First is do we not live in a capitalistic economy?
Are the oil companies "allowed" to make a profit? Or are they only "allowed to make someone else''s definition of a "reasonable" profit? How did the United States get into a position that allows itself to be so dependent upon oil that when the price soars, they are hurt big time?

I remember one poster writing in another thread that oil was no different than other natural resources as air or water. And crude oil, being a resource, belongs to everyone. It reminded me of Huey Long, the Kingfish back in Louisiana in the 30's. Btw,he was assasinated. The poster also said the water on the planet belongs to everyone. So, I extrapolated that if I drill a well on leased land or property I own for the express right of extratcing the water, that may or may not be there, when and if it comes to the surface, it no longer belongs to me? I spend the money to lease or purchase the land, to drill the well and bring the water to the surface and it doesn't belong to me? Sounds very Communist in theory to me.

Back to "big oil." We must, as a Capitalistic society, recognize that "big oil" is in business to earn a profit. They, as capitalists, can sell their oil to the highest bidder in a world free market. What right do Americans have to demand that "big oil" sell their oil to the US consumer at a price lower than other world buyers?

Now steps in the US government and begins to enact laws to tax "big oil" produced here in the US. This will probably cause big oil will go somewhere that will not tax them as much, and the US will become worse off. You want to drive out the US oil producers, then tax the living hell out of them. Or the government could steal their money like they did from the cigarette companies. Some say the government, should raise taxes on "big oil" because they are making "obscene" profits. Whatever that is, I don't know. What I do know is the American government can ,and will, drive oil companies out of the US if they beging to jump on this "let's get em" band wagon. Americans must ask themselves WHY "big oil" hasn't invested in more refineries here in the US in the last 30 years. Find that answer, and you will partially answer the question of how the price of oil has come to where it is today in America.

Why doesn't the Federal governemnt eliminate the TAX they impose on the CONSUMER of the oil and gasoline? Why don't state governments eliminate the TAX on oil and gasoline that it imposes on the CONSUMER? Why doesn't the Federal and State governments eliminate the road use tax on diesel fuel used by trucks to deliver most goods to American consumers? This would go a long way in the credibility of the sincereity of the government's concern for the American being "gouged" by "big oil." Sounds to me like "big oil" isn't the only one doing the "gouging" here. Taxes are more of a gouge than profits.

The Federal and State government should be offering "big oil" incentives to increase refinery production. State governments should be encouraging "big oil" to explore, drill, and produce more domestic oil. State and federal government should be giving TAX CREDITS for alternative energy production and delivery to consumer stations. State and Federal government should be giving TAX CREDITS to automakers for producing alternative energy vehicles. Consumers who purchase alternative energy automobiles should receive TAX CREDITS. Where are these programs?

This business of blaming "big oil" for earning "too much profit" seems to be a socialistic scam designed to steal money from American Industry. American Consumers, if they don't like the price of gas and oil, should develop alternatives to heating their homes and driving their gasoline powered vehicles. They should have done this after the first oil shock in the 70's. American consumers have had 30 years to do this and they have only increased their dependecy upon "big oil." Then, when the world price of oil rises above what they deem "fair", instead of looking in the mirror and asking themselves why it is negatively affecting them, they conveniently blame "big oil." It is like blaming the drug producer and dealer for the drug addict's dependency upon addictive drugs. It is absurd. Furthermore, I wonder why it is that Americans do not even understand the children's story of the Three Little Pigs?

The American politicians, from both aisles, will jump on this "let's get em" mentality so as to garner the allegiance of the voting American public. They will lead the charge to "make em pay" for these "obscene" profits. All this will do is drive "big oil" out of the US market and leave it to the foreign oil companies to supply a super addicted society that has no one else to blame but themselves for the position they are in today with regard to the price of oil.

Even if the Government doesn't drive out the oil companies, "big oil" will get the signal and begin to structure itself so as to insulate itself from the great transfer of wealth that the government pulled off against the tobacco companies. And you can bet the American consumer will be at the bottom of their priorities with regard to their position in the market in the future.