thank you very much pal for those links! You have to separate the gasoline from petroleum. Petroleum is like Frankenstein and gasoline, heating oil, kerosene, etc. are the monsters with their own life. You have to understand that so you don't get confused. but make no mistake, exxon is a big piranha swimming amog white sharks like Russia, Nigeria, Venezuela, ecuador, bolivia etc etc etc. exxon makes profits with high prices in crude oil, but refining is not their main source of revenue. the whole world is paying high prices in gasoline cause bureaucracy and big taxes. Did you know that Iran and other Big time producers has to import gasoline, because they dont have refineries?
And I have heard that part of the problem is the lack of refining capability. But everybody says: "Not in my backyard."
I am shocked and chagrined. This kind of rational thinking has no place on ET (to say nothing of network television). To illustrate the kind of thinking that would be more appropriate here, I heard on one of the news channels that Exxon paid three times as much in taxes as it earned. Now then, that's the kind of thinking we could use more of!
this is a joke, right??? what surpluses? italy have a 114% GDP deficit, france a 75% GDP deficit, japan a 154% GDP deficit, germany a 67% GDP deficit, spain 56% GDP deficit vs the US 63% deficit. guess what, when spain "makes money" they have to "share" their wealth with countries in deeper shit. when california is deep shit, is their own problem. ahhhh you're talking about budget???... are you really a trader?
You know, with all your whining, why not resign your citizenship and emigrate to Cuba, Sudan or Venezuela. You'd be most welcome there with your hatred for free markets.
Instead of complaining you could have hedged against this by investing in these oil barons and made money yourself as well. This is a free country you are free to ride the coattails of those oil barons.