Comments on: Should The Oil Companies Be Punished For Making Obscene Amounts Of Money?

By: Empty Spaces Inc.

Empty Spaces Inc. — Sun, 18 Jun 2006 15:07:00 +0000

its not the oil companies that are jacking up the price of crude oil. its the increased demand from the world's growing middle class population.

I agree, it does negatively impact the middle class and lower middle class, but thats life. Rising property prices also price poor people out of the market[like i have been in San Diego!] but you learn to adapt.

Doing nothing except complain about it doesn't help your situation, does it? You need to find an angle and exploit it. Thats what I'm trying to do buy investing in oil.

By: Lazy Man and Money

Lazy Man and Money — Sat, 17 Jun 2006 20:02:00 +0000

I’m with stock mama on this. Oil is very much a necessity of living in the modern day life. It’s not like the price of coffee going up where I can say, “Ehhh, I just won’t buy that anymore.” If I don’t buy it, I’m not going to be able to get to work and that means I don’t make money and starve. There are a lot of people who are struggling on minimum wage or fixed incomes that are hurt by the raise in oil prices. And then the oil companies report record earnings which means another few million for the CEOs and executives.

This is why people are upset.

Interesting point about Microsoft, and I think a number of people hate them as well. In the meantime, I suggest people just start using the open source software. It’s generally just as good (sometimes better like in the case of Firefox), just different than Microsoft stuff.

By: Empty Spaces Inc.

Empty Spaces Inc. — Sat, 17 Jun 2006 03:22:00 +0000

Thats sort of true in a way.

Remember when a computer used to cost $2000 and the software $200? Now it costs $299 and the software costs $2000! And microsoft is the richest company on earth. why aren't they being taxed? Just because thats not being hyped!

But when oil is selling for $70/barrel on the open market instead of $25 like it did several years ago, you'd expect their profit to go up, even if their margins didn't. Why should the oil companies suck it up? If you don't like it, drive a cycle to work! Or get a fuel-efficient car. Or buy an oil well or invest in exxon!

incidentally, my new job will entail a 2 mile round-trip walk to work each day!

By: Stock Mama

Stock Mama — Sat, 17 Jun 2006 03:08:00 +0000

It’s not so much an anti-business sentiment as it is a powerful reaction to a set of circumstances. When we saw gas prices begin to rise dramatically, the newspapers reported the oil companies as saying it was because of increased costs that they were forced to pass on to the consumer. Granted, that wasn’t the whole story, but that was what was passed on to consumers through the media. So long as it was believed that everyone was feeling the pain together, people put up with the high gas prices. But when the oil companies posted record profits, the general attitude was, “Wait, hold on, weren’t you the guys saying we’d ALL have to suck up higher oil prices? What happend to that?” Because the public had the impression that oil companies were suffering along with ordinary folk, and then had that illusion shattered by the reports of enormous all-time profits, people naturally felt betrayed.

And even after record profits have been posted — again — fuel prices continue to rise. Every time people go to the pump and see those high prices, they’re reminded that while their own pocketbooks are leaner, the oil companies aren’t suffering at all. It’s in their face so frequently that naturally it’s at the forefront of many people’s minds.