[Ansteorra] Gas prices
johnmatkinson at gmail.com
Fri Sep 12 19:49:26 PDT 2008
The amount of ignorance of basic economics involved in this discussion
is really quite staggering.
Exxon is a half-a-trillion dollar corporation. It produces some 4
million barrels of oil a day.
If the CFO or CEO makes a single bad call, you're looking at losses of
millions or billions of dollars, economic damage that could tank
entire economies, etc, etc, etc. 82,000 employees work for
ExxonMobil. How many employees are you responsible for? 1? 2? 10?
Compare your salary to the scope of responsibility, and it probably
tracks pretty well with the CEO of Exxon's as compared to his scope of
If you think you could do better, you're welcome to convince folks to
give you 501 billion dollars of capital and try it.
Seriously, whining on the SCA email list about the economic facts of
life is pretty masturbatory. What are you going to do, vote Socialist
and hope you get a politician radical enough to nationalize the oil
companies? Then you'll really see what happens when the inmates run
the assylum. Raise taxes on oil companies? Oil companies don't have
a fixed income. They budgets for expenses, including taxes, and take
that into account when setting the prices of their product. What
percentage of the price of gas is ALREADY accounted for by taxes?
I'm not saying you need to have all the details of the oil business at
your fingertips--I don't. But if you're going to sound off on the
subject, at least try to understand basic Economics 101 level stuff.
mka John M. Atkinson
On Fri, Sep 12, 2008 at 6:54 PM, Michelle Dodd
<lygabrielerdb at hotmail.com> wrote:
> OHHH let me cry big fat crocodile tears for them. If their profit margin is SO small they don't need to announce it. Nor do we need to be hearing that CEOs and CFOs are getting million dollar bonuses besides their salaries, when we have to worry about if we can afford to buy a tank of gas to go to work next week And go to a movie on the weekend. If their margins are so small; their officers don't need to get bonuses. Mortgages are only supposed to be about 20% of your income. Your gas bill shouldn't be 25%.
> Ly Gabriele
> The pursuit of truth and beauty is a sphere of activity in which we are allowed to remain children all our lives. (Albert Einstein)
>> Date: Fri, 12 Sep 2008 15:47:04 -0500> From: davidjhughes.tx at netzero.com> To: ansteorra at lists.ansteorra.org> Subject: Re: [Ansteorra] Gas prices> > Owen Van Meter wrote:> > Profit margin may be only .10 cents a gallon but when a CEO from a company comes out and say's that they made millions in profit - That's alot of .10 cents a gallon especially when others are looking for what evr reason to go up> >> > Just a thought> > _______________________________________________> > Ansteorra mailing list> > Ansteorra at lists.ansteorra.org> > http://lists.ansteorra.org/listinfo.cgi/ansteorra-ansteorra.org> >> >> > > The major energy companies have virtually no control over the price of > gas at the pump.> > Yes, ExxonMobil made huge profits, primarily because they are one of the > largest corporations in the world.> They made a hundred billion in profits on trillions of dollars in sales. > The actual profit margins/return on investment for ExxonMobil is > pitifully low, less than 10%.>
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