Originally posted by Lofty
Who's to say what is excessive profit. Don't get me wrong here, I'm not looking for a fight. Who get's a share of that 3 billion? It doesn't go up in smoke. I own stock in a number of refiners, oil companies, exploration companies and consulting firms, it's been extremely profitable for me.
The gas prices are TOTALLY out of line but I still don't blame the refiners. I do think that paying $.75/gal in tax IS excessive however.
The refiners should make as much money as they can get away with. Crude should be down at $5/barrel not $30. Now that would bring the price at the pumps down, refiners could make their 3 billion, then you, I and everyone else could be happy. Well except for the Enviro-Nazi's but who cares about them....
I guess I'm just numb. I just don't see how one could think 75 cents of tax per gallon is excessive (which it is), but 3 billion dollars NET profit per quarter is not. Imagine how the economy would be if gas were down to say one dollar per gallon and EVERYBODY were to profit by a robust economy, not just the lying thieving oil companies.
I do not begrudge anyone from making money, it's just I have a slight problem when the oil companies are making so much off the backs of everyone else, and they don't have the decency to be honest about it.