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barry_sword
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Check Out These Oil Executives!
« on: May 22nd, 2008, 5:47pm »
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These oil executives will not disclose their income to CNN. How do you NOT know what you made last year! Huh
 
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Re: Check Out These Oil Executives!
« Reply #1 on: May 22nd, 2008, 6:11pm »
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get a rope, god forbid they make money
 
Let's see how much that affects the price of gas...
 
According to the EIA(www.eia.doe.gov) we consumed 20.7 million barrels per day in 2007.  According to http://www.newton.dep.anl.gov/askasci/eng99/eng99288.htm, you get about 19.5 gallons of gasoline out of each barrel, in addition to some other things like heating oil.
 
So, that makes daily consumption about 20,700,000 * 19.5 gallons, or 403,650,000 gallons per day, or 147,332,250,000 gallons in 2007.
 
Let's just round up to 150 Billion gallons to make this simple.
 
So, these guys on the panel made something like 5.5M + 14M + 15M, let's just round up and say they made 100 million dollars.  OMG.  That's works out to .06 pennies per gallon.  Not 6 cents, .06 cents, or 6/10,000 of a dollar.
 
How much does the government make on every gallon? In California, it's over $.50 per gallon! (http://www.energy.ca.gov/gasoline/statistics/gas_taxes_by_state_2002.htm l and that was in 2002! For doing NOTHING other than regulating and taxing it?  The oil companies at least do something useful.
 
It so easy to point the finger at the oil companies, but we are the problem.  We vote idiots into office, and they have created this demand/supply problem.
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Re: Check Out These Oil Executives!
« Reply #2 on: May 22nd, 2008, 7:31pm »
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holy shit.  my calculator says the same as yours.  400million gallons of gas a day is friggin mind-blowing.
 
If the company profit is in pennies per gallon, and the taxes are also in pennies per gallon, why is it that the company oil profits have skyrocketed while the tax revenue for roads and infrastructure hasn't?    
.....Er, well, maybe the tax revenue has skyrocketed, but i dont see any new roads or anything.  
 
 
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Re: Check Out These Oil Executives!
« Reply #3 on: May 22nd, 2008, 7:43pm »
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Their profits are running at about 8%, which is probably enough incentive to deal with the regulatory nightmare that is energy.
 
Any way you slice it, 8% of $4.00 a gallon is more money than 8% of $2.00 a gallon.  Their profit is rising because the market price for their product is rising.  The fact that they enjoy totally inelastic demand is sad, but it's not their fault that the market (worldwide) is demanding more than can be supplied (by over a 1 million barrels per day).  That's why prices are going up, and profits follow naturally.  If they did not, there would be no reason to be in that business.
 
They are not angels, but they are not the problem.  Our congress is the problem, and our people are the ones putting those idiots in charge.  Sadly, the action that people want is for these same idiot politicians to punish the oil companies and sue OPEC, as if that is going to accomplish anything at all.
 
Reduce demand, increase supply by using our own resources (whatever they are), and the problem goes away.
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Re: Check Out These Oil Executives!
« Reply #4 on: May 22nd, 2008, 7:45pm »
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on May 22nd, 2008, 7:31pm, BMoneeTheMoneeMan wrote:
If the company profit is in pennies per gallon, and the taxes are also in pennies per gallon, why is it that the company oil profits have skyrocketed while the tax revenue for roads and infrastructure hasn't?

 
Taxes are fixed per gallon, not a percentage of the price.  As the price rises, oil company profits will rise, but tax revenue will be the same.  It is not like sales tax.
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Re: Check Out These Oil Executives!
« Reply #5 on: May 22nd, 2008, 7:46pm »
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on May 22nd, 2008, 7:31pm, BMoneeTheMoneeMan wrote:
holy shit.  my calculator says the same as yours.  400million gallons of gas a day is friggin mind-blowing.
 
If the company profit is in pennies per gallon, and the taxes are also in pennies per gallon, why is it that the company oil profits have skyrocketed while the tax revenue for roads and infrastructure hasn't?    
.....Er, well, maybe the tax revenue has skyrocketed, but i dont see any new roads or anything.  
 
 

 
The tax on a gallon isn't to sneeze at.  and the higher the pump price the more that $ tax generates.  It sure as $hit isn't going into that lock box for infrastructure and road repair!  The pols and local gov. spend money like drunken sailors and when the economy really tanks you and I are going to not be asked but demanded...threatened to open your wallets more.  When sales tax decreas, the spending dosn't they just stick it to the property owners.  
 
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Re: Check Out These Oil Executives!
« Reply #6 on: May 22nd, 2008, 7:52pm »
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Re: Check Out These Oil Executives!
« Reply #7 on: May 22nd, 2008, 7:57pm »
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on May 22nd, 2008, 7:45pm, fubar wrote:

 
Taxes are fixed per gallon, not a percentage of the price.  As the price rises, oil company profits will rise, but tax revenue will be the same.  It is not like sales tax.

 
I coulda sworn the mark up was in pennies per gallon and not pennies per dollar
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Re: Check Out These Oil Executives!
« Reply #8 on: May 22nd, 2008, 8:00pm »
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I think that's the way they invoice it, but they work off of margins, so the price per gallon that they call markup is flexible whereas the taxes are not.
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Re: Check Out These Oil Executives!
« Reply #9 on: May 22nd, 2008, 8:54pm »
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on May 22nd, 2008, 6:11pm, fubar wrote:
get a rope, god forbid they make money
 
It so easy to point the finger at the oil companies, but we are the problem.  We vote idiots into office, and they have created this demand/supply problem.

 
Right. The only people worse than ebay and drug companies for gouging is big oil. Zero consciences. Screwed, blued, and tattooed as my old employer used to say.
 
Charlie
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Re: Check Out These Oil Executives!
« Reply #10 on: May 22nd, 2008, 9:03pm »
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Rail.  
 
Soon.
 
Think backwards.
 
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Re: Check Out These Oil Executives!
« Reply #11 on: May 22nd, 2008, 9:51pm »
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People buy so much of what they see on TV. And they also want somebody to point the finger at. Oil company execs are easy targets, but 8% is no huge operating margin. I wish the company I worked at could make 8 cents on the dollar, but we're a little more capital intensive than an oil company (i.e., over 500 jet airplanes and over 100,000 trucks to run and maintain).
 
What a lot of people forget about is that average Americans own much of the oil companies, mostly in the form of 401K's. Why should I be bitter when they succeed?
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Re: Check Out These Oil Executives!
« Reply #12 on: May 22nd, 2008, 10:01pm »
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on May 22nd, 2008, 7:46pm, Paul98 wrote:

 
It sure as $hit isn't going into that lock box for infrastructure and road repair!  

 
That 'lock box' bit gets me every time.  I think of Al Gore talking about how we will take the social security money and put it in an iron-clad lock box and throw away the key.
 
 
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Re: Check Out These Oil Executives!
« Reply #13 on: May 22nd, 2008, 10:10pm »
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You have to remember that for the last 70 years, the Republican party has been trying to kill Social Securtiy. All my life it has been called the third rail of politics. Good. George tried it too. Gore should have known better than to make that silly statement though.
 
Defending the unbelieveable business of oil company gouging is hard to fathom. They deliberately haven't built new refineries here for years. No money in that, you know.
 
It's hard for me to root for a business that in the late 30 and 40s, bought up streetcar systems in several cities to kill public transportation that they didn't have a piece of. No money in streetcars either.
 
Charlie
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Re: Check Out These Oil Executives!
« Reply #14 on: May 22nd, 2008, 10:13pm »
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on May 22nd, 2008, 9:51pm, Brew wrote:
Why should I be bitter when they succeed?

 
Because the top guy makes 15 million a year and has no worries?....just a thought.  Wink
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Re: Check Out These Oil Executives!
« Reply #15 on: May 22nd, 2008, 10:19pm »
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on May 22nd, 2008, 10:13pm, Jonny wrote:

 
Because the top guy makes 15 million a year and has no worries?....just a thought.  Wink

The top guys in just about every company in which I own stock make millions, too. So? When did capitalism become a nasty word? If I'm envious, I should become one of those guys, not point the finger at 'em. Turns out I'm not envious - but I do give them some of my hard-earned money to invest. And that's just enough for me.
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Re: Check Out These Oil Executives!
« Reply #16 on: May 22nd, 2008, 10:22pm »
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on May 22nd, 2008, 10:13pm, Jonny wrote:

 
Because the top guy makes 15 million a year and has no worries?....just a thought.  Wink

 
Dude, you are living in the 80s if you think the top guy only made 15 million.
 
 
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Re: Check Out These Oil Executives!
« Reply #17 on: May 23rd, 2008, 10:55am »
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Capitalism is fine.
 
J. P. Morgan and and the Rockefellers made the golden age which was so golden that even Republicans had had enough after the turn of the century. If you're going to make money, it would be nice if you don't act like Scrooge McDuck.  
 
Greed such as this hasn't been seen in 100 years. The country can't afford it.  
 
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Re: Check Out These Oil Executives!
« Reply #18 on: May 23rd, 2008, 11:26am »
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Greed is a moral issue, not a legal one. Any suggestions on how to legislate greed out of the marketplace?
 
"Fair" is a ball that drops between two white lines. The way I figure, I can either get angry, get even, or get lost. I'll spend my time focusing on stuff that makes me happy - in other words, I choose to get lost.
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Re: Check Out These Oil Executives!
« Reply #19 on: May 23rd, 2008, 12:34pm »
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Here we go again:
 
- Profit is evil and greedy
- People shouldn't be allowed to make so much money.
- That big corporate money should be forcefully. redistributed to those who don’t have as much.
 
What does sound like to you?
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Re: Check Out These Oil Executives!
« Reply #20 on: May 23rd, 2008, 12:43pm »
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I knew I liked you Mark.
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Re: Check Out These Oil Executives!
« Reply #21 on: May 23rd, 2008, 12:45pm »
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on May 23rd, 2008, 12:34pm, Marc wrote:
Here we go again:
 
- People shouldn't be allowed to make so much money.
- That big corporate money should be forcefully. redistributed to those who don't have as much.
 
What does sound like to you?

 
If they haven't been said, it would sound like nothing.
 
I can't seem to find the quotes in this thread where these things were said, or mentioned the first time in the ANWAR thread.
 
 
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Re: Check Out These Oil Executives!
« Reply #22 on: May 23rd, 2008, 1:15pm »
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People are getting upset because the evil oil executives make money.  Congress is grilling said evil-doers about their income.  Congress is tlaking about a 'windfall profits' tax.  Congress is going to sue OPEC.  Congress won't allow any drilling in America.  Congress won't allow any new refineries or nuclear power plants.  The Feds and the states both make more money on gas than the oil companies.  Something is wrong with this picture.  Oh, it's congress.
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Re: Check Out These Oil Executives!
« Reply #23 on: May 23rd, 2008, 1:47pm »
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Here's my perspective on the whole thing:
 
Campbell Brown is hot!
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Re: Check Out These Oil Executives!
« Reply #24 on: May 23rd, 2008, 1:58pm »
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Thank you for the news, Shawn.
 
In reading Marc's "Here we go again", and from the ANWAR thread:
 
on May 15th, 2008, 1:33am, Marc wrote:
Jonny's posts like this still get the same kinds of responses from some of the same people, but now I see even more socialists coming out with even more twisted statistics.

 
I got the impression he was reading from these threads and I had a hard time finding "shouldn't be allowed" or forcefully redistributed being said a first or second time so couldn't make sense the conversation at all.
 
 
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