Oil companies are earning about $1.00 in net profit per gallon of gas sold

I believe it is time for the government to step in and forcibly regulate oil company profits

It would be fair to say that "big oil" should be allowed to earn $.10 cents per gallon of gas sold as profit although Oil Exec salaries should be capped at $1,000,000.00 mainly because it takes no leadership to gouge customers

Oil compnaies currently hold a monopoly on an unregulated industry

If a software company had the same kind of choke hold on the american people it wouldget sued by the government

If airline pilots threaten to strike which would result in disbabling the transportation system in the US the President always steps in.

It is time for the government to give "BIG OIL" one of two choices

A - They can cap profits at .10 cents per gallon

B - The government can seize all oil assets in the US and begin regulated disbursement

If you like these ideas - forward them to your congress people. Or at least come up with another way to force oil companies to do the right thing

If left to their own devices we know humans (especially executives) rarely take the morally correct path.

I can't believe the idiotic comments in response to
the story on Oil prices/profits. Our Energy companies are one of the few large successful
enterprises left in the US. They employ thousands
of Americans, they pay billions in taxes that
Congress wastes on earmarks. Many of our 401K
invest in their stock. They pay dividends to
thousands of Americans every quarter. Without
a reliable source of energy/gas our prices would
be even higher and supply would be at the sole
discretion of potential enemies. If every Energy
Co. CEO worked for no pay the savings to
consumers of gas would be ZERO - it's so small
in their total cost. Remember, we live in a free
Capitalist Society. Profit is not a dirty word. It's a
sign of success. Management's primary responsi-
bility is to their Stockholders. If they cause profits
to decline and cut dividends (gas customers would
be happy) Stockholders will fire the CEO's. I can't
believe people want The Government to tax.
regulate and manage the Oil Companies. In five
years our energy supply would be a disaster.
Think Post Office, IRS, Social Security, Medicare,
etc, all heading for collaspe. Supply will help bring
down prices - yet we won't allow drilling in areas
we know oil is available. Less consumption will
also bring down prices, but that means you have
to change behavior (NO, blame Bush/Big Oil).
Congress knows most of what I say is true, but
they patronize the public but huffing and puffing
over the Oil executives for 30 seconds of TV time.
Please think America before making rediculous 30
second comments yourself.

Cheap gasoline was wonderful stuff while it lasted.

This is reality. Energy will never be cheap ever again. Not fossil fuels, like gasoline or coal, and not the alternatives.

There are two ways to make me wrong. One, have a horrible global recession: two, have a world war that kills around 1 billion people.

You can thank the Democrats for the high oil prices and the high cost of living. They have deliberately made things the way they are in order to make you more dependant on them for every thing. They want to control what you drive and where you drive. They want to tell you how to raise you children and what they will learn in school. They want to tell you who, when and where that you will be able see a doctor.
Democrats have gotten rich of of the Global Warming scam. They have also heavily invested in scam companies and will be pumping government grants into those scam companies if they take the White House and control both houses of congress. They are corrupt to the core and will stop at nothing to get what they want.

I opt for the world war. It's time to get rid of some of the dead wood in this country and the world as well. Plus it's better to do it now and before all our enemies learn what ot do with all the top secrete technology that the Clinton's passed on to them while in office. China is building stealth subs as fast as they can with they technology that Bill Clinton passed to them by way of a Presidential order overiding our national security safe gaurds whivh normally prohibit the transfer of such technoloy. They also obtained all the blueprints to all our nuclear war heads while Clinton was in office. We transfered all our manufacturing capabilities over to them while Clinton was in office and the loss of good jobs we are feeling now due to it. Clinton gave China targeting software so they could pinpoint hit any hardened military site or city. Before they would have been lucky to even hit the continent. Just look at how Russia, China, Vietnam and even North Korea went from being countries that could barely get by and now thanks to Bill Clinton China, Russia and N. Korea are super powers while Vietnam is prospering due to taking a lot of America's furniture production jobs. Millions will die due to what Bill Clinton has done to this country and I would rather any war be done now so that it will be millions of them and not us. Also, due to Clinton and the Democrats blocking any energy expansion here in America the price of gas here has gone through the roof. It has also allowed the rough terrorist nations like Iran to flourish. Thanks again Bill Clinton for putting the nails of death in this once great countries coffin.

Bush is behind it all,the more we cut back the more they raise the pricess

This is Bull the more we cut back the higher the pricess they wil not cut profits because Bush is behind it all

Tom you must work for an oil company, and you are a real douche.

Hey Tom-get Xucked

The problem is americans investing in oil for the quick profit in their portfolio. USA has the most hands-money invested in the worldwide markets. Do you want to see the price of oil drop???? Sell any investment that has anything to oil and demand that your brokers do the same with all your investment funds. Pull out now and stay out!!! Quick profits in your portfolio = rises at the pump. Is it worth it???? NO!!!! SELL NOW!!!

If the Democrats had their way, we would all be driving hybrids with 55 mph the max legal speed.

Sorry, but if done that would have forced gasoline prices way down.

The Republicans fought all attempts to control what you drive, which allowed many to be total morons in Hummers. The Republicans have fought attempts to reduce speed limits. That means the moron in the Hummer is getting around 8 miles per gallon at 85.

At every turn, the Republicans have forced a horrific energy policy down the throats of America. Their only answer, drill in Alaska and offshore. And the Hummer will suck that off the table in a nano second.

This is what I believe MAY be happening....It is called price collusion. I would like to ask everyone one question....How can all oil companies in a given area exactly have the same price on the very same day. Now I know that a barrel of oil is traded for a certain price everyday. However, not every company is paying the same benefits, retirement, etc., etc. Therefore, we should have different prices at different places of oil companies trying to "get" the business. What makes the difference if BP, Shell, Marathon, etc. have the same price. They never did in the past, but in to days world different story...again, I believe that someone is setting prices for every gas station across America.

Peter, I've been reading for two years now, generally I agree. This time, I don't.

1.Congress should be asking Goldman Sachs why did their hedgefunds run up the oil futures. They have 80 billion in the futures market, the traders joke about the monthly Goldman roll. It costs about 15/bbl to get it out of the ground. The rest is profit to the shieks and speculation.

2. How much city, county, state, and federal tax is on a gallon of gas or diesel? There's no value added here, just dead weight.

The oil execs are the last people that should be investigated. You ought to thank them for getting it here and refining it for you.

Mike Tuccinardi

Place these three fundaments above all other socio-economic issues and you will quickly understand the "People's Predicament."

1) As with any other material monopoly, there is simply no reason for the material holders (the oil companies, in this case), to give money back for something you can't get anywhere else.

2) Further, Corporations are exclusively profit centers for management and shareowners... NOT for our citizens or our country's benefit.

3) Not unlike the corporations that control it, our Government is solely for GOVERNMENT and the growth and preservation of its size and power... NOT for its citizens well being.

GET TOGETHER in your actions.
BUY the most fuel efficient car you can, VOTE only for independent candidates who are for regulation of monopolies and REDUCTION in size of government and taxes.

Stick to this plan diligently and MAYBE your children's children will be able to return to the standard of living we had 50 years ago.

Thanks for listening and may God bless us all with a return to humanity.
AUGUST

It is truly funny that people bitch about $3.00 gasoline while drinking a $3.00 cup of coffee, drinking bottled water at $1.50 per half litre, and eating Ben and Gerry's ice cream at $32.00 a gallon!!!! Follow all of these products from their source and see what their actual production costs are. Who are the real crooks?
And, by the way Steve, you claim that the more we cut back on gas the higher the price goes? As of 4/3/08 consumption is still higher than it was at the same point last year. That ain't much of a cut back.
How come nobody was screaming for government intervention when oil was $10.00 a barrel and the oil companies were losing their shirts?

Hello to
Oil execs on Capitol Hill and to whom ever this apply's to.
I think its only fair to say that the ("Middle Class ,Blue Collar, Hard Working, Americans") put up with your fluctuating market up and down up and down.This shows me that there really is no governed control on what oil company's can charge. I also think you don't deserve the right to brag about profits and to play god in a sense of speaking in witch I mean is that allot of United States jobs has been outsource in witch people the ("Middle Class ,Blue Collar, Hard Working, Americans") loose their jobs and are forced to take up more than one job ,to pay bills, sustain their families well being and deal with inflation. The ("Middle Class ,Blue Collar, Hard Working, Americans") helped in making this country what it was 7 yrs ago. And with out the ("Middle Class ,Blue Collar, Hard Working, Americans") today this country would of all ready been belly up.
("Middle Class ,Blue Collar, Hard Working, Americans made your company's what they are today and this is how once again the :Middle Class ,Blue Collar, Hard Working, Americans gets treated.? well lets go to Wal-mart ill buy you a burger AND A COKE

steve said...
Bush is behind it all,the more we cut back the more they raise the pricess

Justice Change said...They also obtained all the blueprints to all our nuclear war heads while Clinton was in office. We transfered all our manufacturing capabilities over to them while Clinton was in office and the loss of good jobs we are feeling now due to it. Clinton gave China targeting software so they could pinpoint hit any hardened military site or city. Before they would have been lucky to even hit the continent. Just look at how Russia, China, Vietnam and even North Korea went from being countries that could barely get by and now thanks to Bill Clinton China, Russia and N. Korea are super powers while Vietnam is prospering due to taking a lot of America's furniture production jobs.

I really agree with these two arguements. But my question is do you really want a repeat of this again? Everyone talks about how history never needs to repeat its self correct? Well...um...I believe it's obvious where we're at now ain't it? Wow...so much for no repeats, huh? I guess that means we'll soon be getting ready to see another World War since we found the "the Hitler"(saddam) and oh yeah, the new nuclear powers are North Korea and China? Bush meeting with the Russian Prime Minister about placing weapons in Europe which the PM of Russia done said once that if we place weapons in Europe that they would take the systems out and attack us as well as our allies! Wow...I guess we haven't gotta wait for WW3 either...hmm...what's next I wonder? Hailey's Comet?

Someone should come up with a three wheeler little mopet that is easy to ride.
We could all ride these to the corner store and small distances on nice days.

By three wheels I mean two wheels in back and one in front! Most everyone can ride one of those. Even old ladies like me, lol.
We would save a ton of gas.

Truth is, folks, the big oil companies are so used to realizing huge profits, they're not willing to compromise. Last year, they made a whopping $123 Billion in profits ALONE; ExxonMobil's profit share was $40 Billion and they're not willing to invest any of that into renewable energy. On top of that, they get a "tax break"....? Even Congress couldn't take away their tax breaks, because the Senate beat it down and Bush threatened to veto any proposal to do so.

Take away the tax break, they will stop drilling certain projects. They stop drilling certain projects, there will be less supply. If there is less supply, the price will go up. If the price goes up, they will make higher profits.

ExxonMobil makes 40 billion for one reason. You buy gobzillions of gallons of gasoline from them. Now that is their fault? What are they supposed to do? Shoot at you when you drive up to buy gasoline?

There is too much investment in alternatives. A great deal of the money being spent on them is dead - lost forever. You are literally saying to the managers of the company, we insist you invest money into projects of which you have zero confidence of any economic return.

That's called tyranny.

ExxonMobil has played by the rules. They put their money at risk where they thought it would pay a useful return. They ended up being right, so they get to make a profit. On that profit they pay a tax. After that, it's their money.

What if the government came to you and started telling you into what you had to invest your after-tax money? You would load up the flintlock and have a revolution.