Big Oil...

Parent Cafe
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<p>A lot has been written about Big Oil and their associated profits. Please reference this:</p>

<p>[FORTUNE</a> 500 2007: Top Companies - Most Profitable](<a href=“http://money.cnn.com/magazines/fortune/fortune500/2007/performers/companies/profits/index.html]FORTUNE”>FORTUNE 500 2007: Top Companies - Most Profitable)</p>

<p>I would like to point out that while there are several Big Oil companies on this list, with a lot of profits, isn’t it time we started concerning ourselves with the others? Let me introduce you to:</p>

<p>Big Retail
Big Bank
Big Pharma
Big Tech</p>

<p>I find it humorous that everyone wants to rail on Big OIL because it is easy, it is popular. Why don’t you delve in and take a look at the some of the numbers behind the numbers.</p>

<p>BIG OIL
Exxon Mobil 39.5 billion in profits on revenue of $350 billion for an approximate profit of 11.3%</p>

<p>Chevron 17.1 billion in profits on revenue of $200 billion for an approximate profit of 8.6%</p>

<p>Conoco Phillips 15.6 billion in profits on revenue of $172 billion for an approximate profit of 9.0%</p>

<p>BIG OTHERS
CitiGroup 21.5 billion in profits on revenue of $150 billion for an approximate profit of 14.3%</p>

<p>Bank of America 21.1 billion in profits on revenue of $117 billion for an approximate profit of 18%</p>

<p>General Electric 20.8 billion in profits on revenue of $168 billion for an approximate profit of 12.4%</p>

<p>Pfizer 19.3 billion in profits on revenue of $52.4 billion for an approximate profit of 36.8%</p>

<p>Chevron 17.1 billion in profits on revenue of $200 billion for an approximate profit of 8.6%</p>

<p>Conoco Phillips 15.6 billion in profits on revenue of $172 billion for an approximate profit of 9.0%</p>

<p>Who is really fleecing who here? Let’s face the fact that these companies are in business to make money. They aren’t charities or philanthropic organizations. If possible lets stick to the issue of profits generated by companies and not degrade into a discussion about tax breaks and subsidies. Those are entirely separate conversations…</p>

<p>I’ll get the popcorn.</p>

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<p>I don’t want to rail on big oil or any of those other companies. They’re in business to make a profit and that’s what they should try to do. If congress wants to do something to help the citizens they should quite hampering the oil companies’ ability to increase the supply side of the supply and demand equation and let big oil do what they’re in business to do and go find oil (with ‘reasonable’ rather than prohibitive environmental regulations), refine it, and sell it.</p>

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<p>“Big Oil” makes a good target in times like these, but they’re not the problem. They don’t set the price of oil (despite many people thinking they do). Yes they make a profit… that’s what they’re supposed to do. They’re a corporation and their job is to make money for their shareholders (of which anyone on this board can be one if they want to). </p>

<p>Rather than folks harping on about “Big Oil” they should instead be phoning up their representatives in congress and petition for the government to support alternative energy research so we can stop using all this foreign oil… something that at the moment “Big Oil” is actually showing some initiative in development even though our government hasn’t shown much interest.</p>

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<p>Just thinking of how much could have been done with the 600 BILLION dollars the government has ****ed away over the last 5+ years in Iraq makes my skin crawl.</p>

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<p>I’m truly not trying to make light of the money spent on the Iraq war…I’m really not. I broke down the 600 billion dollars between the 117 million taxpayers and it works out to about a $1,000 per year per taxpayer. Yes, that is a whole lot of money. In essence I am paying $20 per week for the war. I would like to have my money back but it isn’t going to happen. Unfortunately we broke it, now we have to fix it. Just try to think of it as a cup of starbuck monday-friday… I know that doesn’t help but…</p>

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<p>pmrlcomm</p>

<p>Good work. You actually had two comments on a perspective not usually seen here before sueinphilly got the posts back into more typical territory.</p>

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<p>A cup of Starbucks may be not much by certain individuals’ standards, but to a bunch of people it might mean a whole lot! And let’s not forget about the thousands of veterans who will need lifetime care for their physical and mental wounds. The real cost of this war is going to be much, much higher and can not be measured in “Starbucks units”.</p>

<p>Back to our normal programming - discussion of the big ones.</p>

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<p>pmrlcomm,</p>

<p>Why didn’t you use the 2008 list? Walmart is #1 not Big Oil. Google made a bigger profit percentage wise than Exxon did last year. Big Oil is not the only one to blame for our high gas prices. Everyone is to blame including you if you drive, eat, wear clothes, have carpet, or use any kind of plastic, etc.</p>

<p>It’s time to look at real alternatives like the one Craig Venter is researching. It’s also time to drill in the US like Cuba/China is 45 miles off the FL coast.</p>

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<p>Arguments against big oil work because the average citizen is not very intelligent.</p>

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<p>I hear ya payne. That is pretty much the truth. </p>

<p>I didn’t know the 08 numbers were out or I would have used the most recent data just to be as forthcoming as possible.</p>