Right Now..Windfall Profits to Oil Companies.

[Stuart G]

As the price of gas slowly retreats, big oil continues each day to reap in windfall profits due to the decrease in the price of oil on the world's market.

..The price of gas in my local market is down about 6 per cent in the last few weeks. On the world market, the price is down 20 percent.
It may be true, that right now, these whores are making a larger profit than before.
.. Where is that 13 per cent going? Sure it is a little cheaper, but the the profit gap has increased.

One answer may be that they are reaping huge profits now to take a small loss in late September and October. Then, the price will be lowered to about $2.80 a gallon to try to get Mc Idiot elected. I know it is hard to believe, but I wouldn't put it past them.

[elizfeelinggreat]

1. the only thing to say

is what you said, "Windfall Profits".

[katmondoo]

2. Last week I read in a Florida newspaper

Exon Mobile and partners made 54 billion in profits this year

[shadowknows69]

3. but but but but they paid lots of taxes

Oh yeah, profit is usually figured after taxes isn't it? Accountants back me up on this?

[DangerDave921]

7. Keep in mind

The great majority of the stock in Big Oil is owned by tons of mutual funds, pension funds, IRA funds, etc. So these profits end up going to millions of individual investors via their investments, pension funds, retirement funds. It's not like the top CEO's are earning billions of dollars apiece.

Also, take a look at how many billions Big Oil paid in taxes already.

[safeinOhio]

4. Seems to me

if we're going to bail out big corps when profits go south(big banks now), why can't we skim when they have windfalls?

[Stuart G]

5. Agreed, but there is some misconception that..

as prices go down, their profits will go down. The point of this is simple. While the price is going down, they, Big Oil, is trying to increase profits. (at least in the Chicago Market) No matter how much profit they have, it is never enough for these greedy pigs..(no offense to pigs)

[DangerDave921]

6. Defining windfall

How can anyone define windfall? Do you mean profit? Or profit margin? And do you really want the government deciding how much profit any one company or person can earn? That is scary to me.

[DangerDave921]

8. control of prices

I've read that about 70% of the price of a gallon of gas is based on the price of oil. I don't think Big Oil can magically lower the price of gas because they can't control the price of crude oil.