How can Exxon and the other oil companies point fingers at OPEC when THEY are making record profits?

Okay, so the law of supply and demand is one thing, but does Exxon and the other big oil companies really think I'm dumb enough to think that its all OPEC's fault that I'm putting almost 40.00 in my tank to fill my tiny HONDA CIVIC?





Lets look at the facts here. Yes, OPEC did say that they would PURPOSELY reduce production to keep the oil over 100.00 per barrel, HOWEVER, even with that being the case, how is it then that Exxon, in the first 4 months of this year PROFITED (that is money in their POCKETS) over 11 BILLION (thats right, billion)!? Think about it, they could lower gas prices and STILL make a boatload of money, so why isnt that happening?





I've started a blog on my myspace (and invite all of you to do the same) to not buy gas on MONDAYS and then everyone in america not buy gas on May the 31rst. If everyone in america (who spent an average of 20.00 on gas) didnt buy gas for ONE day, it would cost the oil companies over 7 BILLION in just ONE DAY! Join the revolution!!How can Exxon and the other oil companies point fingers at OPEC when THEY are making record profits?
They're making the same margin they've always made, about 9%. When oil was $10 a barrel, they made 9%. Oil is now $130 a barrel, they still make 9%. In fact, given that oil is now 10 times more expensive than it was 10 years ago, one would expect the price of gas to be upwards of 7 or 8 dollars per gallon. The companies have actually done a pretty good job of keeping the price down, given the astronomical increase in the price of crude.How can Exxon and the other oil companies point fingers at OPEC when THEY are making record profits?
The main problem is inflation, not the so-called corporate greed every idiot on answers is raving about.





Don't bother attacking oil companies. Companies exist to make capital. If I owned a huge chunk of the world's crude, what do you think I'd do if I weren't an idiot? I'd limit production to keep effort low and capital gains high! Get a life idiot!
. . . And they would make 7 BILLION on the TUESDAY after when you, me, and everyone else filled their car up.
You should protest in the streets to get media attention.
they have to give us the impression that they really care.
';. . . And they would make 7 BILLION on the TUESDAY after when you, me, and everyone else filled their car up.';





You're off by a bit there, Bellamax. They would bring in more like 14 billion. 7 billion would come from the people who boycotted on Monday, and the rest would come from the people who did not boycott but still needed to fill up on Tuesday anyway. I suggest anyone advocating oil company boycotts go to the following link and read the entire page before continuing with your boycott efforts:





http://www.snopes.com/politics/gasoline/gasout.asp





If you REALLY want to wreck our economy, by all means, go out there and boycott one or two oil companies. If you want gas prices to be reduced in a manner helpful to all, stop using so much gas. Reducing demand is the only way to reduce cost.
If a man owned the only source of water he could make some money charging a dollar a glass. That's supply and demand. But if the man limits how much water he draws from the well while at the same time selling it for $100 a glass, that's not supply and demand, that's greed. Because people need the water and the man knows they have to pay whatever he asks or not drink. Greed. That's your answer.





Use any analogy you want; food, shelter ...or fuel. At some point it stops being about supply and demand and becomes a case of pure greed.





How can Exxon and the other oil companies point fingers at OPEC when they are making record profits? Simple answer. Greed. Greed on the part of the oil companies and greed on the part of our elected representatives, who are all too willing to let our country be run by big oil.