Record profits for Exxon & record pay for CEO

While the rest of us suffer, Exxon/Mobil is raking in the bucks.

NEW YORK (Reuters) - Exxon Mobil Corp. (XOM) Chief Executive Lee Raymond's compensation package jumped to more than $38 million last year, when soaring energy prices helped the No. 1 public oil company report one of the largest profits in U.S. corporate history.

Full Story.

The American public needs to realize that these "soaring gas prices" have less to do with oil production in foreign countries and more to do with corporate greed on the part of the companies selling gas here in the US. That corporate greed is supported by our government becuase it helps fund the politicians we've "elected."

The bottom line is we the people can change this. If everyone who buys gas were to buy from independent retailers and not the major chains (Union, Exxon/Mobil, Arco, Citgo, Shell, etc) then those chains would lose money and be forced to lower their prices. It really is that simple.

Here's the problem, those independent retailers are few and far between and the lazy masses of the US public today would rather whine about prices than drive an extra mile or two for gas. No wonder our nation is rapidly decaying.

Think oil companies are to blame for rising gas prices? Think again. It's the tree huggers.

www.sfgate.com.../chronicle/archive/2005/04/14/EDGLUC816J1.DTL

From the article:

One thing is certain: Oil companies are not the culprits. In California, where gas prices are among the nation's highest, the oil industry has been repeatedly investigated yet no evidence of "price manipulation" has ever been found.

Though other factors cause high gas prices, such as high taxes and increasing world demand, environmental regulation is among the primary reasons. For example, environmental regulation has significantly restricted drilling for oil in Alaska and on the continental shelf. More drilling will increase the supply and thus lower prices...

From drilling to refining to distribution, environmentalists have done everything they can to raise gas prices.


Environmentalists are not actually concerned with the well-being of man. Their real motive is to sacrifice man to nature by stopping industrial activity. For instance, Adam Kolton of the Alaska Wilderness League states, "Drilling the wildest place in America is objectionable no matter how it's packaged." David M. Graber, a research biologist with the National Park Service, states, "We are not interested in the utility of a particular species, or free-flowing river, or ecosystem, to mankind. They have ... more value -- to me -- than another human body, or a billion of them."

Oil companies deserve praise for producing an abundance of gasoline despite the massive burden of environmental regulations foisted upon them. To increase the gasoline supply, we need to start by eliminating needless environmental regulations, including drilling bans and prohibiting certain octane boosters. If the government makes the choice to protect people's freedom, gasoline prices below a dollar-per-gallon won't be just a relic of the past.

End of Article.




So it looks like the enviro-whackos are causing record profits for Exxon, record pay for CEO's....... and record gas prices.

While I agree that there are many "environmental" regulations that have less to do with protecting the environment than they do with harassing big business, many of them are legitimate concerns. Why do we need to drill for oil in Alaska? There are untapped oil reserves all over the US and Mexico that can be tapped with less potential for harm. Mexico could be a huge oil producing country if we helped them straighten out their corrupt government instead of waging a useless war thousands of miles away. Learn more here.

I can't understand how anyone can learn that ONE PERSON in Exxon/Mobil was paid $38 million dollars and not see a way that they can afford to lower their prices (and still turn a decent profit).

If nothing else, I think the government should regulate the amount of profit that oil companies can squeeze out of a gallon of gas. But then where would our elected officials get their kickbacks and grafts?

This whole mess is disgusting to me. I'm going to get a hydrogen bike!

Originally posted by Mr No One

If nothing else, I think the government should regulate the amount of profit that oil companies can squeeze out of a gallon of gas.
a hydrogen bike!

That is a VERY dangerous thing to do. Do you really want the government to have a legal president in regulating prices of provate products?

I THINK NOT!

Please, consider the long term ramifications of that.

The government has done it before and continues to do it today. Little thing known as an anti-price gouging law. Same principal should apply here. We are not paying almost $3.00 a gallon because there is a huge cost associated with getting gas to the pumps. We are paying exorbitant fees for profit only.

but what if driving the extra mile o get to a gas station, when the tank hits empty...

Can these people make it any more obvious?

I was checking up on this earlier. The top 3 ExxonMobile, ChevronTexaco and BP have turned a $100 billion profit over the past 3 years between the 3. For ExxonMobile their profit margin has gone up some 50% since 2002 from around 6% to over 9%. The blame it on refinery capacity. BS. With a $100 billion profit they could have built a dozen even with tough regulations. But why on earth would they? What better than a short supply to drive up prices? So why on earth would they fix anything when their profit margins continue to climb and they continue to break alltime profit records?

The only shortage is the one they have created. This is a shortage by corporate choice.

Originally posted by Paladin327
but what if driving the extra mile o get to a gas station, when the tank hits empty...

Simple, don't wait. You have a gas gauge, use it. When you get to an 1/4 tank refill from an independent distributor. Ultimately, the dollars end up back with the big oil companies, but they make more money on the gas they sell directly and through their franchises.

The bottom line is, we need to stop being part of the problem and start being part of the solution. It is painfully obvious that there is a partnership between our government and the oil companies to rape the American public at the gas pumps. Do we really need to lube up for them too? No.

I'm really saddened by the lack of response to this issue. I can't believe that more of you aren't as mad about this as I am. Come on folks, let's put something together here and do something useful.