War profiteering....& Oil....

Discussion in 'Economics' started by limitdown, Mar 9, 2008.

  1. Tax breaks (tens of millions, if not hundreds of millions of dollars)for the Oil companies,,,

    Oil company profits exceeding $42 BILLION US dollars fy2007,,, more money than even the Pharohs of Egypt and no other entity since, have ever earned....

    BP Berkley University (hundreds of millions of dollars in contributions)....

    Oil companies profiteering on the Iraq war crisis...

    An Oil Administration happy to have Oil well over $100 US / bbl prices...

    all themes from a presentation on ABC Channel 7 (NY station on eastern time zone), this sunday 3/9/08 at 12noon time...

    imagine that...

    where are the sanctions and confiscations of these war profits?

    how rigged is this game against ordinary people?

    how high up does it really go?
  2. Can't go much higher:

    Much of the recent runup due to speculative buying from investors (once you see individual investors buying oil than you know its time to get out)

    U.S consumer getting squezzed right now with one of the worst housing markets in U.S history and 2 consecutive job loss reports (signs of U.S Recession).

    If demand is not susstainable at these levels prices must come down just like what is happening in real estate market.

    Alot of gasoline is purchased on credit cards (not sure of exact percentage although this would be an interesting study).

    Seems like a possible good short at these levels, but who knows when the bubble will burst????
  3. Oil prices are the new terrorists to the US economy,,,,

    profiteering has to be accounted for, if and where possible,,,,

    who has the political will to do this, let alone raise the issues to the public ire....?

    how would this be done?
  4. The government makes more money from high oil prices then the Oil companies do. In fact Oil companies make close to what Grocery stores make as a % of sales.

    This is why democrats want to screw everyone with prohibiting new drilling and refinery expansion.

    Democrats love high oil prices.

  5. Covert


    Profiteering...Judging from your grammar, I'm guessing that you aren't from the US. Profiteering isn't really relevant in this case in this country. In fact, now you may not believe this, but profits are actually something that companies and shareholders actually consider good. GO FIGURE. When oil was trading at $15/barrel, these same oil companies were not accused of profiteering. They were in financial trouble, and they were given the tax incentives they have because this country cannot presently function without oil. Even with oil at the prices it is at, these companies only enjoy about 8-10% margins. One more thing- they also pay record amounts of taxes to the government.
    But if you consider yourself so courageous for raising the question, tell us what the link is between the war and Big Oil.

  6. Fuck you.

    And fuck other people like you.

    people like you are the problem. Not incompetent leaders.

    The fact is Bush and the people you reflexively lick ass for are are not only incompetent, but corrupt.

    and fuckers like you keep on bringing more of them into office.

    you don't have more than a 100 million. So you aren't part of what bush and his ass licking incompetent cabinet consider as his core constituent.

    in fact if you went to ask bush for something, he'd say the same thing to you as I am.

    fuck you.
  7. Does your Mama know that you are on the internet and saying dirty words??

  8. where is the honesty of these poor, pitiful but ultra rich oil companies now that they are making more money than all previous endeavours in the history of planet earth?

    where is the honesty when their accountants cash their checks for these tax breaks, when they have been, under both the Oil Administration and the Bush Administration, when they are reporting for the last 6 of his 8 years, profits that are beyond obsene?

    where is the honesty to say, here fellow Americans, take your tax breaks back, because we oil companies need to do our patriotic part too....


    all that escapes arguements like yours and others like you, not to make this degrade into a personal, ethical, political, economic discussion between you, me, or other limited minded persons...

    most people are not buying, agreeing with or being persuaded to accept arguements like yours. it is completely irrelevant whom I am, or otherwise, what is relevant are the events and conditions that have been perpetrated upon the American people by its own leaders....

    incidently, the statements that I quick jotted down were aired on ABC, Channel 7, Sunday past, in NYC (so using EST / DST timezone, you can find the program, and request a transcript, which probably is not worth your time....)

    those were not my conclusions but are already being actively discussed in the open air of news broadcasters and others too....

    oh, incidently, any record tax payments to the government, at least on paper, are probably not being made and being allowed to be forgiven through a myriad of backdoor deals, especially since they have such reprensentation in such high offices....

    oh, incidently, profiteering in this context is not the same as making profits through normal business activities. the definition connotes a highly negative, highly dishonest and usually questionable moral connotation when viewed by the normal conscience of the average citizen. yes, there are no normal persons, and yes, there are no average citizens, but when the events and details as outlined on that news program were made by more than four journalists from around the country their arguements had more than just a ring of truth....

    wrestle with public opinion,

    its has shifted into some of the most precipitously negative approval ratings of the last 8 years even below the Harding Administration.....
  9. dinoman


    If you took all corupt scumbags in Washington and hung them in town square on New Year's. I am sure that may clean up Washington a little.

    This is just a generalization and not pointed at anyone directly.

    Many endlessly bitch about how bad they get screwed yet they continue to vote for more of the same. This is why our country will fall from its' graces. Everything our fore fathers fought for; we a destroying by voting in empty suits with pretty faces and gleeful speaches.

    The American people get the government we deserve!
  10. Our goverment profits from high oil prices because of the tax revenue.

    We could solve the oil problem in 10-15 years by opening up land to drill, building nuclear plants etc but then the government would be out the tax revenue.

    Oil companies don't start wars to drive up oil prices, governments do.

    Why would any company think its good business to have pissed off customers? How long would Intel last if everyone hated their guts?

    Its to the governments advantage for everyone to hate oil companies so they can go about gouging taxpayers unchallenged.

    People who don't understand this are just playing right into the goverments hands.


    "With BP, Exxon-Mobil, and Shell reporting record profits, the Tax Foundation reminds us in its latest Fiscal Fact that the biggest beneficiaries of gasoline sales are federal and state governments, not the oil industry"

    #10     Mar 11, 2008