UPI Poll: Oil companies too profitable

[MtnBiker]

Jan. 24, 2007 at 9:17AM
Nearly three-quarters of U.S. residents told a UPI-Zogby International poll oil companies make too much profit.
The issue of oil company revenues grabbed attention when gas prices in the United States recently soared to the $3 a gallon range and oil companies soon reported record profits.
While some said the consumer price rise was linked to speculation on the international oil market and tighter supply, others saw oil companies taking advantage of U.S. drivers.
Some 70.8 percent of those respondents said the companies "make too much profit," 21.3 percent said they "make the right amount of profit" and 2.2 percent said the companies "make too little profit."
Even the so-called investor class sees things too good for the oil companies: 57.2 percent of those participants said the companies make too much profit and 35.2 percent said it's about the right amount.
As to whether profits beyond "normal" should be taxed, 64.3 percent of those asked said it should be and 28.7 percent said it shouldn't.
The interactive poll of 6,882 people in the United States was carried out Jan. 16-18 and has a margin of error of 1.2 percentage points.

http://www.washtimes.com/upi/20070124-090132-1413r.htm

Any other industries too profitable?

[Mr. P]

Maybe these folks don’t know about the government profit on gas per gallon..
I’ll bet if they did they would be pissed.
http://www.energy.ca.gov/gasoline/st...tate_2002.html

[5stringJeff]

There's no such thing as too profitable, especially when one is a stockholder.

[jillian]

There's no such thing as too profitable, especially when one is a stockholder.

Even when they're price gouging?

[MtnBiker]

Even when they're price gouging?

When exactly was that? Who investigated the gouging?

[5stringJeff]

I'll second Mtnbiker's question.

[Mr. P]

Even when they're price gouging?

Interesting. I really haven’t ever thought of this from a business stand point..

If I have a product and price it by demand, when does my price become gouging?

Would it be when people are upset about the price?
When only a certain percent can buy my product?
When I make more profit than people ‘think’ I should?

If I have a product am I not free to set my price? Are my prices determined by opinion or the market?

[avatar4321]

Even when they're price gouging?

yeah well if you are tired of the government gouging us with the oil prices support a tax cut on gasoline.

[Insein]

Never heard of a company being TOO profitable. All that means is that you better buy some stock in that company. Do people say Google is TOO profitable? No they just keep buying their stock at the outrageous prices they offer. Is ben and Jerry's TOO Profitable when they sell their Ice cream at twice the price as their competitors?

Any time people advocate the government taking a companies money away for being TOO Profitable, they just basically say "I don't like my money, i wish the government would help me by making the rich corporations charge more for everyday products by taxing them more." Idiots.

[Mr. P]

Never heard of a company being TOO profitable. All that means is that you better buy some stock in that company. Do people say Google is TOO profitable? No they just keep buying their stock at the outrageous prices they offer. Is ben and Jerry's TOO Profitable when they sell their Ice cream at twice the price as their competitors?

Any time people advocate the government taking a companies money away for being TOO Profitable, they just basically say "I don't like my money, i wish the government would help me by making the rich corporations charge more for everyday products by taxing them more." Idiots.

I made a few thousand in 5 minutes on a Yahoo option, I'm a BAD guy.

[jillian]

Interesting. I really haven’t ever thought of this from a business stand point..

If I have a product and price it by demand, when does my price become gouging?

Would it be when people are upset about the price?
When only a certain percent can buy my product?
When I make more profit than people ‘think’ I should?

If I have a product am I not free to set my price? Are my prices determined by opinion or the market?

Sometimes it depends on whether your product has societal implications beyond supply and demand... like people needing heating oil; etc. The real question that should be asked is, if things like Katrina caused supply to diminish, this would result in the price going up, but not in the increased profit margin. If there's an increased profit margin, then there's something else operating.

Also, why should it be that Exxon/Mobil has the highest profits of any corporatin ever but FOR the fact that we're being railroaded? This is not even mentioning the fact that I think oil dependence is a security issue. The more money we spend on oil; the more money goes to oil producing states which support terrorist organizations; the more money there is that's available to those organizations to, in turn, attack us.

[Mr. P]

Sometimes it depends on whether your product has societal implications beyond supply and demand... like people needing heating oil; etc. The real question that should be asked is, if things like Katrina caused supply to diminish, this would result in the price going up, but not in the increased profit margin. If there's an increased profit margin, then there's something else operating.

Also, why should it be that Exxon/Mobil has the highest profits of any corporatin ever but FOR the fact that we're being railroaded? This is not even mentioning the fact that I think oil dependence is a security issue. The more money we spend on oil; the more money goes to oil producing states which support terrorist organizations; the more money there is that's available to those organizations to, in turn, attack us.

People don't 'need' heating oil, they can burn coal or wood. Wait, not anymore the left has ended that. All that warming stuff ya know.

As far as profit goes, maybe their running an efficent operation.

BTW what is the profit margin for Exxon? It's a trick question sorta.

[Dilloduck]

I'll second Mtnbiker's question.

I'll third Mtnbikers question !

[Hobbit]

When oil prices went up, Exxon's profit margin did not increase. If I remember correctly, it actually decreased and the huge profit was caused by idiots panicking and buying enough gas to fill their cars 5 times while the price was inflated by Katrina.

[red states rule]

Even when they're price gouging?

Jilly, the only gouging is the government

Average profit for the oil companies on a gallon of gas is ten cents

Average tax on a gallon of gas (federal and state ombined) 60 cents

But with Dems profit is bad and taxes is good