Bigthink - Idea Comments Feed

Comment on: Are rising gas prices inevitable?

Bigthink — Sun, 09 Mar 2008 19:37:21 +0100

While there are small portions of the market which lacks competitive conditions, and there are small niche industries where profits are very high, "big oil" is by and large quite transparent and hasn't and isn't making windfall profits. Everyone in the world knows that Exxon is making more money today than they ever have - $43B by some estiamtes in 2008. however, that $43B is one revenues of over $500 B. that translates to an 8% net margin. So if Exxon made absolutely no money, literally not a dime of profit, how much would gas prices drop? If an 8% net is indicative of price gouging, then who else can we accuse? How about Intel? Well, their net profit margin is 19%. So when you see a commercial that says "Intel Inside", do you "why those price gouging rats"? How about GE at 12%? We Bring Good Things to Light...at exorbitant prices? How about any major US or global bank or financial services company? How about Proctor & Gamble, Canon, Nike, Xerox, Coke, Pepsi, and of course, the biggest price gouger of all and world renowned sinster corporate, Google. All have net margins well exceeding Exxon.

Comment on: Are rising gas prices inevitable?

Bigthink — Wed, 23 Jan 2008 22:17:18 +0100

I totally agree with having transparent markets, but I think gas prices are going to go up and up and need to go up.

We will not use alternatives until the price is much dearer. But why should massive monopolies be allowed.

Talk about ten cents each way.

Comment on: Are rising gas prices inevitable?

Bigthink — Wed, 23 Jan 2008 19:22:16 +0100

It is no wonder that places like Dubai and Saudi Arabia are now funding mega-projects. I agree with the speaker about making these oil companies transparent so as to create efficiency for themselves and the consumer.