However, that doesn't mean I have to be happy about Exxon posting an 11.6 BILLION DOLLAR profit last quarter. That's last quarter by the way. Meaning the last 3 months unless my math is off.
Now when they report that profit, I'm assuming that's what they take home at the end of the day after everything else is taken care of. Like paying employees. Like exploration. Like research and development. Like all the other things that they whine about having to pay for. Yes, those things are expensive, however at the end of the day you're still wiping your butt with $1000 dollar bills.
In the meantime, we're paying out the rectum for gas. Think about this - the minimum wage is about $5.50 give or take. We'll say that most gas tanks are anywhere from 12 - 17 gallons...we'll just say 15 gallons. So at $4/gallon it costs $60 to fill that sucker up...or almost 11 hours of work (gross pay, not net). So in a 40 hour week more than a quarter of their gross pay goes to gas. That's working to get to work so that you can put gas in your tank to get to work. That's a steaming pile of BS.
I don't like to point out problems without solutions, but there is no solution. The only thing that would immediately help is for oil companies to cut back on their profits for the good of their fellow man. Fat F'n Chance.
I guess there is one happy thought that I can take out of this whole situation. Meet Exxon's CEO, Lee F. Raymond.
There are so many things to be said about this picture...it's probably best I leave it up to your imagination. The dude's got mad cash, and yet there he sits; yellow broken teeth and a giant chin-pillow. I bet he smells like cashmere and cheese. And I'm sure he's crying himself to sleep on his triple-king-sized bed of money. What an A-Hole.
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Over half of that profit goes to the federal government. Another (large) percentage of their profit goes back into the cost of refining the crude oil into car fuel, jet fuel, etc. and byproducts for half the crap we own. And another significant percentage is invested in alternative fuel research, as required by law. Of course, even after that it's still a lot of money. Good thing Exxon is an American company that employs hundreds of thousands of American workers. Now if we can just get our oil from our own land... then ALL the oil money will stay in this country.
I want to know how many jobs an investor with no extra money can create. The free market is based on the fact that there are some with an obscene amount of money willing to invest it and create more jobs. Unfortunately, I've always been on the other end: a worker at one of those jobs. But I do not resent the guys like the Exxon guy. I know he and the company are not just hoarding their wealth. They are providing jobs, and income to the federal government which keeps millions of people from having to work (a subject for another day). I do think he should spend a bit on himself though and get his teeth fixed!
I just typed out a long comment and it got lost for some reason. Let's see if I can duplicate it. I was basically saying that over half of Exxon's profit goes straight to the federal government. Another large percentage goes back into production--it takes a lot of money to turn crude oil in to car fuel, jet fuel, etc. and all the byproducts that make up half the crap in our homes. Also, as required of them by law, another large percentage goes to research and development of alternative fuels. So, I'm sure there is still a pretty large profit, but not as insanely large as the initial numbers would have you believe.
Also, Exxon Mobil is an American company. If you really are a capitalist, then you should be delighted that an American company is flourishing and created hundreds of thousands of jobs for the American people. Also, one of the things that makes the free market possible is that there will always be some with obscene amounts of money. They are the ones that take the risk and create new jobs. I have always been on the other end, working the jobs that they created, but I do not resent CEO Raymond. I would rather have CEO's making a lot of money and have jobs for us to work, then for a company to be so taxed and punished by the government that they close up shop, take their business elsewhere, and decide not to take a risk by creating new jobs.
I would like for the entire oil industry's money to stay in America and create even more jobs. This is why I am for drilling here and drilling now.
Anyway, I think I also worked in a part about how if it weren't for wealthy Americans and the taxes of evil big corporations, this country wouldn't have any revenue. I do think Raymond should spend a bit on himself though and get his teeth fixed.
The other comment post was so much better, but oh well, it's gone forever!
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