Posted on 05/01/2008 6:55:13 PM PDT by Kaslin
Profits: Exxon Mobil's first-quarter earnings of $10.9 billion, up 17% from a year earlier, are stirring outrage in Washington. Some are calling such profits "obscene." What a sad lack of understanding of economics.
No, what's seriously wrong is that politicians such as Clinton can cynically manipulate public opinion to enact disastrous policies.
Indeed, rather than be upset at Exxon's profits, Americans should be thrilled — and angry at a Congress that doesn't seem to want to encourage the oil industry to make even more.
Our free-market economy is built on profit. Higher profits mean more jobs, higher incomes, more investment in equipment and people, higher standards of living. Yes, profits are the engine for all of this — and that includes the profits of "Big Oil."
By signaling that supply is scarce, higher profits encourage more production. Except, that is, when Congress through its inept lawmaking stands in the way. And that's the case now with the oil industry.
(Excerpt) Read more at ibdeditorials.com ...
All I get from what Her Royal Heinous produces is acid reflux.
In what region? There are some areas that could see production in a few years.
Rather than attack each other,
How come as a country, we’re not doing something??
I wonder what the profit margin was on her little cattle futures trading venture.
Amen, Bro.
Start drilling in Alaska, North Dakota and Wyoming. That will cause prices to drop in a heartbeat.
And then?...
And then we have more control of our own destiny.
And then?...
What do we do with our destiny, when we gain more control of it?
Sell it to China again?...
What?
What are we as a nation, doing to become better? Stronger? More intelligent? More ... just about anything?
Seems we’re seriously losing control. We’re selling everything which isn’t bolted down - and even some of that.
We really need to start kicking *ss and taking names again.
We’re ... what was it Jimmy Carter said?
Malaise.
That’s what it is. We’re just that.
And then we drill in The Gulf of Mexico.
They would be happiest if the oil industry operated like the airline industry — hasn’t made a nickel in profits since the Wright Flyer first took to the skies. Of course, that would stifle technical innovation, but who cares? They would be “punished.”
A windfall profit tax on her windbag husband would be a good start. Not to mention the financial relationships the bent one has with the Saudis. That could be quite a conflict of interest for the smartest woman.
How dare you ask Oil Companies to put America before profits.
They are making a lot of money so you can have a job, if they have to give money to terrorists to keep their profits up, who are you to tell them otherwise.
I dunno about other FReepers, but I’m getting just sick, of this globalist cr*p.
I want to be in that circle of fired-up firemen rallying around President Bush, yelling in genuine, heartfelt enthusiastic pride in America:
“USA! USA! USA!”.
Instead, we get NAFTA. Chinese trade deficits. Jobs exported. No border. And it gets worse every day.
God help America.
Please.
What in the world happened to us?
Dictator farts? Record profits!
Price per barrel goes down? Record profits?
Price goes up? Record profits!
Before China develops? Record profits!
China Developing? Record profits?
Shortage? Record profits!
War? Record profits!
Refinery fire or repairs? Record profits!
In the springtime, in between time? Record profits!
Price controlled by government? Of course not! But price by late October? Lower! But first have to increase, so it can be lowered!
Either way, record profits!
There are sure a lot of people running around, including on this board, without the least bit of understanding of economics.
Pitiful.
I’ll say. Some actually think that oil and gasoline are produced in a free, capitalistic market. There’s one born every day.
“He could be out there, making the case for more drilling..”
You mean like he was doing within the past couple of days? Like he’s done a number of times over the past 7+ years?
Perhaps you haven’t heard him because you don’t listen to him. Who do you listen to?
Kind of like how the price per Kwh mysteriously negates all those Energy Star "savings".
Oh I see.
I’m mad because nobody is doing anything to fix the problem, so ... my motives are questionable.
Is that it?
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