|
Energy Part 2
|
View this Thread in Original format
| JOEBIALEK |
In response to the article appearing in most major newspapers across the country concerning the $8.4 billion profit reported by Exxon. Concern over profits by this oil company has brought about accusations of gouging the American consumer. According to the article, "CEOs from Exxon and its industry peers have already appeared twice at Senate hearings and were asked to justify their profits shortly after reporting them to shareholders." This has to be an American first. I have never heard of a company being called to justify it's profits. One wonders if an extension of this idea could be made to other companies in other industries as well.
Per the article, "Lawmakers believe the profits are made on the backs of consumers who are paying a national average of $2.91 a gallon - 68 cents more than last year. Exxon says a strong commodities market combined with fortuitous planning and prudent management are producing record numbers." This should make Americans ask the fundamental question: what is the difference between what a public non-profit utility company provides and what a private for-profit oil company provides? Afterall, they both sell energy to all United States citizens. The difference is that natural gas and electricity are sold in the form of a public good whereas oil is sold in the form of a private good. Accordingly, on the grounds of promoting national security, the United States Congress should convert all oil companies to utility companies. This would eliminate the windfall profits and force the oil industry to earn just enough income to cover operating expenses just as natural gas and electric utility companies are required to do. The resulting drop in gasoline prices would further stimulate the economy and lighten the energy stranglehold upon the United States by the Middle East. It would also eliminate the influence of the oil lobby. In this case, desperate times call for deliberate measures. |
|
|
| Sunflower |
| Nah, I think they should be left alone |
|
|
| skot_e |
First off î'd like to point out that exxon operates on a global scale and the profit would represent all markets they operate in, so to say they are gouging the AMERICAN consumer is a bit narrow for me.
It should also be pointed out that Americans pay less for fuel per litre than Australians, and more so Europeans.
1 US gallon = 3.7854118 litre
In Australia we are currently fluctuating around $1.40/ lt which equates to $5.29 US/ G (almost double what US consumers are paing)
Instead of worrying about 'high' prices, maybe Americans should consider using more efficient vehicles rather than SUV's and Hummers etc. (this is not meant to target anyone in particular just general society)
Improve the Transit system, and get people out of cars. I assumw LA is still the most poluted city in the world. In my experience the air quality sucks! But then I get the air coming off the roaring forties in the Great Australian Bight, which is pretty much the winds from Antarctica.
As for going to a senate commitee, image if grocery stores, and mechanics had to put up with that.
"Mr Jansen, can you explain to this commitee how you can justify charging your customers $59 for an oil change and engine tune up?" |
|
|
| shaolin_Z |
^^ You do realize you're talking to a bot?
EDIT: http://www.google.com/search?hl=en&sa=X&oi=spell&resnum=0&ct=result&cd=1&q=JOEBIALEK&spell=1 |
|
|
| skot_e |
Does that somehow make it less of an issue to talk about? |
|
|
| shaolin_Z |
| quote: | Originally posted by skot_e
Does that somehow make it less of an issue to talk about? |
No, but I don't see the point in responding to a bot. |
|
|
| Purple |
| Russia already did what the threadstarter is suggesting. |
|
|
| Marc Summers |
| quote: | Originally posted by Purple
Russia already did what the threadstarter is suggesting. |
Russia also detsroyed 40 billion dollars worth of private investors money when they took control of YUKOS. |
|
|
| Purple |
| quote: | Originally posted by Marc Summers
Russia also detsroyed 40 billion dollars worth of private investors money when they took control of YUKOS. |
Who were these private investors? Was it general public/common man who invested in company's stocks? Or large private investment companies, banking institutions and funds; who mostly reside outside of Russia?
Someone has to compromise and give way, I am sure Shell or Exxon was not built on Government money, they must be having private investors behind them. |
|
|
| Marc Summers |
| quote: | Originally posted by Purple
Who were these private investors? Was it general public/common man who invested in company's stocks? Or large private investment companies, banking institutions and funds; who mostly reside outside of Russia?
|
YUKOS Minority Shareholder Coalition
| quote: | | Someone has to compromise and give way, I am sure Shell or Exxon was not built on Government money, they must be having private investors behind them. |
Good point. :)
Thanks to Andrew jackson and J.P. Morgan (The person and the company) the private banks have the U.S. govt. by the balls. |
|
|
|
|
