[sickoflibs]

I had to share this with you. 'The American People' means the federal government to these socialists. Why would oil companies drill for more oil if these libs will just seize the profits after the fact. In fact is this legal??? Maybe the government should take the profits on this guys book.

[ElTianti]

If you want a piece of their profits, buy their stock.

[2banana]

I like this - when can we seize the profits of the abortion industry? Hollywood? Trial Lawyers? Barbra Streisand?

[PeteB570]

Somebody said that each oil company makes about 20 cents profit on each gallon of gas.

Our state/federal tax on a gallon of gas is around 45 cents. More than twice the profit of the oil companies.

So, tell us again, just who is gouging the American people?

[Phantom Lord]

What I would like to see is what % of the profits were generated in America. Being that ExxonMobil is a GLOBAL company, I bet the portion of profits from the US is not even close to a majority.

[Mike Darancette]

the giant company made $10.7 billion

About $45 per American, that cannot even buy a new tire.

[umgud]

It's nearly impossible for the average citizen to grasp the scale of ExxonMobil Corp.'s the State of California's huge profits. CA earns over $.20 on every gallon of gas/diesel sold in the state. And that's just sales tax!

[OldFriend]

I want the various congress creatures to go on the record as stating they want to nationalize the oil companies.

[Gay State Conservative]

Wouldn't it be fun to do a google search on the author of this little ditty?

[Smokin' Joe]

The profits will come back--in the form of the next decades supply. Those wells will never get drilled, though, if the government steals the money.

Now go beat up Coca Cola, they made twice the ROI of the oil companies, and you can blame all those fat kids on them.

[kenth]

I wonder if the Baltimore Sun makes a profit, and if so, why isn't it being returned to "the people"? For that matter, why don't they cut the salaries of the journalists, as well as cutting the heat to the Sun's building, so that more profits can be returned to "the people"?

It's only fair.

[Dog Gone]

The profits major oil companies are currently making are enormous. None of these lefties mention the fact that the companyies are enormous, and the profit margin is less than in other industries. They focus only on the gross numbers.

These companies also pay tax on those profits. Higher profits means higher taxes. That's what the lefties like, isn't it?

[somniferum]

Maybe we should just enact a stupidity tax on economic illiterates like the author of this article.

[G.Mason]

The article is pure unadulterated socialist propaganda.

You tell me what business runs on an 8% profit margin.

From Neal Boortz ...

"If you listen to your friendly television newsperson you'll see almost universal approval of the proposal to seize oil company profits. If you asked one of these people what "inventory profits" were, and why inventory profits rise and fall quickly, they wouldn't have a clue. I doubt that 10% of them could correctly state the difference between profits and profit margins, nor could they come within a few points of telling you what Exxon-Mobile's profit margin was for the last quarter. These news readers shouldn't feel bad though, they're right in step with the vast majority of the American public. Ignorance of basic economic matters is rampant (thanks to government schools) and politicians will always exploit ignorance to expand their power."

http://boortz.com/nuze/200511/11092005.html

[Rummyfan]

The obvious alternative is some form of taxation, something we have done many times in the past when chance and misfortune have combined to produce unwarranted gains.

Which ExxonMobil would pass straight on to the comsumer. Geez, this guy is a professor of economics???

[Enchante]

"Unfortunately, we do not live in a world where significant, voluntary "give-backs" to American society are common"

So says the socialist moron tenured professor. I'm so sick of these whining academic socialists, so many of whom make six-figure salaries for little real work (if any) and more hot air than the average person emits in a lifetime.

I have a proposal for Prof. Alpo-witz and his fellow socialists: the best "voluntary give-back" would be the one that you do for yourselves..... why don't all leftists immediately donate half of their salaries to the poor, etc. as a show of good faith, and then we can discuss where they should donate the OTHER half......

[RJL]

Return oil profits to American people (liberal call to seize profits, is this still America?)

Another adherent to Robert Mugabe style economics, these liberals are so brilliant, just ask them!

[RightWhale]

The obvious alternative is some form of taxation

Corporations pay taxes on profits.

[AFreeBird]

I was watching "Modern Marvels" on the History channel the other day, and they were talking about oil tanksers, and how the industry is ahead of the game to launch double hulled tankers before 2009. The larget tankers under construction are BP Alaska ... something, something and cost around a quarter billion a pop. So 10 of those babies are gonna run that one oil company some 2.5 billion dollars.

I'm sure a good portion those oil profits are going to be used for such infrastructure, well development and drilling equipment needs.

[DeaconRed]

OK OK OK
If we are going that route, then we have to go the other route too.
Everybody that got reduced fare tickets on United, Delta etc. must pay the difference for FULL-FARE.

[trebb]

If they give me the next month's profits, I'll gladly stop asking for more and go on a crusade against the idiots that want free hand outs...