A Horrible EIA Oil Inventory Report

[Bear96]

And if gas is such in demand all over the world and prices are high, why are the oil companies making record profits?

First, profit margins in the oil companies aren't all that high. The raw dollar amount is, because they sell so much product and so have high revenues. But proportionately, the profit margin is only in the single digits.

In any case, you've answered your own question. The oil companies are so profitable because ... the product they are selling (gas) is in such demand which makes prices for it so high. That equals profits for those who sell it.

Don't people like you constantly yell, "Airlines should raise fares!" Why is that OK? Any corporation has an obligation to its shareholders to price its product as high as the market will bear.

You might want to check into buying Big Oil stocks, if you think their profits are so out of whack. That way you can share in the "windfall."

 

[700UW]

I don't tell airlines should raise fares, I simply don't think my paycheck should subsidize a ticket price.

It does not matter to me what a company's profit margin, when a company like ExxonMobil makes a $10 billion profit in a three month period, that is alomst criminal.

And yet you can't get the right-wing controlled Congress to increase the minimum wage, almost what 8 years since it has been raised?

 

[TheWatcher]

I don't tell airlines should raise fares, I simply don't think my paycheck should subsidize a ticket price.

It does not matter to me what a company's profit margin, when a company like ExxonMobil makes a $10 billion profit in a three month period, that is alomst criminal.

And yet you can't get the right-wing controlled Congress to increase the minimum wage, almost what 8 years since it has been raised?

Being profitable and managing your corporation well and sharing the benefits with your employees is criminal? Perhaps you are working in the right industry......

 

[700UW]

Your paycheck doesn't subsidize a thing. The market will support a certain ticket price. If a company can't make money at that price then something has to give> Aircraft leases employee wages.

Bull, if FF whine and cry about the fares, your lack of upgrades the poor service in FC, if the airline charged you for what it actually cost to fly you from Point A to Point B you would not pay the price.

The 20,000 less jobs and the BILLIONS in concessions kept US flying, got it the ATSB loan and made wages so low that the company was able to find funding for the merger, it was not you passengers paying higher fares that accomplished the above.

Making a profit of ANY amount in and of itself isn't criminal. One of the things good profits bring is the opportunity for unionized workers to strike and gain significant increases and share in that profit. Organizing opportunities are better if the company is profitable and greedy when it comes to sharing those profits.

Once again you have no idea of how long it takes to reach that point under the RLA with airlines, point in case PSA is in negotiations for four years, the IAM and the company took 4 1/2 years back in 95 too 99 to reach an agreement, my wages did not go up but the cost of everything else did.

The RLA is set up to protect the companies and interstate commerce, not the workers.

And yes it is appalling minimum wage has not risen in years, yet CEOs salaries and compensation is sky rocketing.

Industrialized Europe has the highest average Minimum Wage Laws in the world coupled with staggering unemployment rates, a tax burden that would make a ultra liberal democrat blush and you want us to head in that direction? What do you think the riots in France were about? Somebody has the testosterone to say "Hey wait, the job for life crap is hurting our young workers and stifling our economy" I can not for the ever loving life of me understand why a union would EVER support a minimum wage law. It's counterproductive to organizing efforts. If the government would stay the hell out of private business and crap like RLA were gone you'd probably still have your wages. The only problem most Americans have is the want the freedom without the risk or responsibility and that's the real problem.

This is not Europe this is the US and in case you have not noticed we are no longer a manufacturing economy it is a service industry, thousands of jobs have been outsourced and now the white collar jobs turn at being sent to India.

People deserve to have a living wage, not a minimum, people are struggling to survive while the Siegel's and Parkers of this world tell the workers "to go eat cake"

This company is heading toward another revolution because it is coming down to the have and have nots.

 

[ClueByFour]

I don't tell airlines should raise fares, I simply don't think my paycheck should subsidize a ticket price.

So work at another airline.

It does not matter to me what a company's profit margin, when a company like ExxonMobil makes a $10 billion profit in a three month period, that is alomst criminal.

So stop buying gas.

And yet you can't get the right-wing controlled Congress to increase the minimum wage, almost what 8 years since it has been raised?

So vote.

 

[FWAAA]

And if gas is such in demand all over the world and prices are high, why are the oil companies making record profits?

High demand and high prices often equal profits, no matter the industry.

Most of our large USA-based oil companies own some oil reserves (in the ground), so when the market price of oil climbed from $12/bbl (late 1990s) to $70 - $75 this past week, the oil they own in the ground became much more valuable. And that accounts for a fair portion of the record profits. They bought oil in the ground low years and years ago and are now selling it high. That's the American Way, no?

Those same oil companies also buy a lot of crude at market prices, refine it and sell it to their franchised dealers, who mark it up some more and hope to make a profit.

Over the long term, high fuel prices will force shippers to move more nonperishables by train instead of trucks, and will force railroads to improve their speed and efficiency to attract even persishable cross-country cargo. That will conserve fuel and reduce wear and tear on our highways. A very good thing, unless you want to see more and more goods shipped by truck.

 

[autofixer]

If you over regulate the oil companies, they will simply move off shore to less hostile environments. Then you will lose all control over their actions.

By the way, Cuba is about to drill 45 miles off shore from Key West. The US will not allow our companies to do that. Cuba is doing the drilling on behalf of the Chinese(Who are searching the world over for every bit of available oil...the real reason prices are increasing). This is an example of what will happen when the oil companies move off shore...I expect pressure will build on them and they will do just that...hello Bermuda!

 

[jimntx]

[Industrialized Europe has the highest average Minimum Wage Laws in the world coupled with staggering unemployment rates, a tax burden that would make a ultra liberal democrat blush and you want us to head in that direction? What do you think the riots in France were about? Somebody has the testosterone to say "Hey wait, the job for life crap is hurting our young workers and stifling our economy" I can not for the ever loving life of me understand why a union would EVER support a minimum wage law. It's counterproductive to organizing efforts. If the government would stay the hell out of private business and crap like RLA were gone you'd probably still have your wages. The only problem most Americans have is the want the freedom without the risk or responsibility and that's the real problem.

To be fair and completely honest though, Bob, it's not just the minimum wage that is hurting Europe, it's their high minimum wage along with the job-for-life laws, AND, the 7-8 weeks paid vacation, AND, the tax rates, AND, the 35-hour work week. Unemployment is high in Europe because they are so friggin unproductive compared to the rest of the world (including the U.S.) which makes their products more expensive than the rest of the world. Since they can't sell more product, they can't hire more people.

Raising the minimum wage in this country would not have the same impact that it has in Europe because we don't have all the other stuff to go along with it. I remember the last time they tried to raise the minimum wage above $5.50/hr, there was all this Repub blather about opportunities for young people disappearing and ones who already had jobs would lose them, and yada, and yada, and yada. The CEO of McDonald's was interviewed on the Repubs mouthpiece, aka Fox News. The interviewer very pompously asked, "Tell us what effect raising the minimum wage to $6.25/hr will have on your hiring practices at McDonald's and speak slowly so the liberals can understand." The response was not what he expected. The CEO said, "A $6.25/hr minimum wage will have no effect whatsoever on our hiring practices because we have been paying a starting wage of $8.00/hr for several years now."

 

[BoeingBoy]

we have been paying a starting wage of $8.00/hr for several years now."

So, if every employer is paying above minimum wage, why raise it?

Jim

 

[700UW]

Every employer is NOT paying above. You can't live on minimum wage, you need to establish a living wage as some cities have done.

 

[jimntx]

So, if every employer is paying above minimum wage, why raise it?

Jim

Not worthy of you. I never said every employer. I was quoting the CEO of one company, McDonald's. A lot of employers are paying only the minimum wage because they can get away with it in this economy.

Have you seen the thread about the gate agent walkout at PIT? They are starting at $6.83/hr and they were offered a lavish $0.07/hr raise. That is obscene.

 

[BoeingBoy]

I was just wondering what the point was....

Either raising the minimum wage will have some effect on hiring by those company's paying at that level, or it won't have any effect because everyone already pays more.

Jim

 

[TheWatcher]

I was just wondering what the point was....

Either raising the minimum wage will have some effect on hiring by those company's paying at that level, or it won't have any effect because everyone already pays more.

Jim

There is no point BoeingBoy, this was the same poster that told us Port Author, Texas was the largest petrochemical complex in the world, knowlege he got from the time he spent working for Texaco....... :down: :down: :down:

 

[PITbull]

WH:

Do you drink 4 gallons of Coca-Cola per day? And do you need that much to accomplish your daily routine? I think not.
Gasoline cannot be compared to other products, because it is a necessity, and is used by the gallon, not by the 20oz. bottle.

Geezus Spin, I need to get a psychological evaluation. I am starting to agree with just about every post your've been posting these past few months.

What are you on...vitamin what?

If you don't like the price of gas, get a bicycle.

The government needs to reenact the windfall profit tax.

700,

C'mon friend...what kind of simple comment is that?

 

[700UW]

It was a comment to show how absurd some comments are, also Exxon reported a $8.4 BILLION PROFIT for the last quarter that is $18.4 BILLION in PROFITS in the last six months.

Time for the Windfall Profits Tax!