My trouble with this is that we see their profits go through the roof, we see the price go through the roof, and some among us say, ergo, we’re getting fleeced.

But if they’re making nine cents on every unit (i.e. gallon) they move, how is that fleecing? Zython made the point earlier about inelastic demands, which gasoline certainly is in the short-term, and also that people (believe they, IMO) need to drive as much as they do. What do you suppose the profit margin is on other inelastic demands, like food? Higher or lower than nine cents per unit?

Damn you environmentalist hippiecommiepinkofags!

Well, you see, people have jobs, and lives. In certain cities, driving is the only way to get around. I know the only reason you care is because high gas prices are what’s preventing your mom from buying you the new Naruto video game, but for the grown-ups, this is a real issue.

If this election hinges on gas prices, John McCain (and the “Drill Now” crowd) win. Obama needs to change the subject … fast.

Why? We’ve had the Bush/Cheney energy policies in place for the last 8 years, and gas prices have done nothing but climb. And McCain plans to continue those same policies.

Otherwise…..who cares how much money a business makes?

When prices of a good with an inelastic demand are being artificially increased to hurt the end consumer, I care. Businesses are supposed to make money, but not at the cost of exploiting their consumers and employees.

And I do agree that nuclear plants are a good idea. However, the American people are too afraid of it, mainly due to Chernobyl and Three Mine Island. It’s not going to happen because suggesting it would be political suicide.

Let’s try this again. They’re selling all they can. No customers going away empty. If there was more oil, they wouldn’t sell more without reducing the price!

Record sales, record profits = no incentive to produce more and bring the price down.

“The world’s biggest oil company is selling all the oil they can…and they’re making record-breaking profits. What’s their incentive to drill for more oil?”

To make more money, as is the incentive in pretty much any business.

Duh.

Sigh, 20 years ago, maybe.

There you go being wrong again, Jay. You seem to be under the impression that jmccann is interested in actually discussing issues.

Direct cause-and-effect, Farris? Baloney. I say it went down because traders are closing out their positions in advance of Bush leaving office.

Hey, it’s just as likely.

The world’s biggest oil company is selling all the oil they can…and they’re making record-breaking profits. What’s their incentive to drill for more oil?

Funny, i thought it was because we were all driving less because of the, you know, high cost of fuel.

You know McCann….I chastised Rheinhard yesterday for saying, “Answer now, fascists!” when he was in fact just playing off your hyperbole. I’ll repeat to you what I said to him. You’ll do a lot better getting people to discuss these issues with you without all of the “marxist” stuff.

Angelina’s gonna leave Brad for me any day now.

Are you going to be able to keep up? She wants like six more kids. Of course, as a wise man with the initials RD once said, “The best part about having kids is makin em!”

Oil companies, and heck, any business that makes money is eeeeeevil!!

.sarcasm off.

you liberals are so f**king stupid.

Who gets mad at someone else for making money???? Seriously. That’s just stupid.

You conveniently left out that Exxon-Mobil’s effective income tax rate increased to 49% versus 44% and that they paid more than $32 Billion in taxes.

Evil Oil Companies!

“Record earnings for the world’s largest publicly traded oil company have become almost as predictable as the surge of gasoline prices at the pump in recent years, and for the second quarter income rose 14 percent, to $11.68 billion.“

Quit driving, and I assure you they won’t make money off of you. Otherwise…..who cares how much money a business makes? Last time I checked, that was ACTUALLY the point of a business. And psssst…..since you are seemingly associating high oil prices with high profits….maybe (now shhhhhh, don’t tell anyone) their profits would drop too if we had more oil! Woooha! You should be happy with that idea, marxist pig!

Gotta love childlike jealousy.

“Record earnings for the world’s largest publicly traded oil company have become almost as predictable as the surge of gasoline prices at the pump in recent years, and for the second quarter income rose 14 percent, to $11.68 billion.“