[OT] Gas companies report record profits (old energy thread)
jeff at neobox.net
Mon Jan 30 11:06:38 MST 2006
> A few argued against taking away the oil companies profit
> margin because they use that money to further invest in
> infrastructure that can deliver gas cheaper in the future.
While I believe they're using some of their profits to invest in new
technology, always remember they're a business... and the reason
they're in business is to make money. It's a safe bet that ExxonMobil
doesn't want to deliver cheaper gas to us lowly consumers because
they're just a bunch of nice guys-- the only reason they want cheaper
gas is so they can (1) undercut the competition, and (2) increase their
I suspect a lot of that profit went into some handsome Christmas bonuses
for the execs. They're not about to hand that money back to us as a
big "thanks for paying three bucks a gallon!"
That being said, I strongly disagree with the notion that the government
should be able to set "windfall limits" on the profits of private
corporations. If companies are able to make a nice profit-- because
the market supports the pricing of their product-- good for them.
That's capitalism. As a small business owner, I would hope that if I
make record profits this quarter, I won't have to worry about some
government "inspector" coming around and talking about taxing or
capping my profits. Luckily that whole discussion went away when gas
prices dropped a bit.
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