Record oil comany profits redistribute wealth from consumers to stockholdres
| Attachment | Size |
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| Oil Companies Redistributing Wealth.pdf | 145.67 KB |
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Record Oil Company Profits: Redistributing Wealth from Consumers to Stockholders
by Mark Cooper, posted on October 31, 2008 - 5:36am
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This is a very sensitive question for two reasons. Which are a free market place and limited resources. When Wall Street strongly advocates a "Free Market Place" and then just as strongly advocates seemingly endless bailouts of public companies utilizing government funds of companies operating in the so called free market place, is it really a free market place? The answer is of course not.
In reality the US economy functions in a free market place when times are good and a socialist market place when times are not so good. And has done so for over one hundred years now. Times are good now for the oil companies. The oil company's state they should be allowed to operate in a free market place. My question to the oil companies is when times are not good for you; do you still want to operate in a free market place? Or look for bailouts like so many firms today operating in so many different markets.
The second reason this is such a delicate question is that oil is a limited resource that is required by virtually ever person on the face of the earth for there very survival. Should such a small group of individuals control a commodity that is vital for the very existence of so many? Hopefully in the near future with advances in energy technology this question will never have to be fully addressed, but only speculated on as it is currently.
Yeah, totally agree with you.
blueoo.com
You have to laugh. Oil goes up to $140 and they rise prices as fast as they can.
But now oil has fallen to less than $70 per barrel, yes prices have fallen a little, but not to the levels of two years ago when oil was last at these prices.
Very fast to rise and very slow to lower them. No wonder thay are making billions in profits.
This is not a case of the government FORCING you to redistribute your wealth to others, which is what Obama and other leftists want
I'm no big fan of the oil companies, but their hands have been tied by a federal government that refuses to let them explore for oil here in the United States
I appreciate the PDF breaking down the record profits for the Oil Companies.
Makes you wonder about this worldwide economic crisis. It doesn't seem to have affected the Oil Companies has it?
Not only are the rising gas prices creating a redistribution of wealth it is also creating a society centered around the major cities of the world. People simply just can't afford to travel. Escpecially not long distances to work.
I'm an American now living in Europe and the gas prices are double what they are per gallon in the States !
It's inevitable that the price of gas will soon go back up to $3 to $4 per gallon and maybe even higher as inflation will start to kick in very heavily late next year when the economy comes back out of this recession.
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