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That was the word used by a coworker to describe Exxon's profits for last year.

*Big Sigh*

It's amazing how other people's profits are obscene yet people will readily accept a new, higher paying job, or a raise without blinking twice. I asked this guy if he accepted his raise (as paltry as ours was this year) and he said "That's different".

Different how? Each person looks out for his own self. Charity begins when you're needs have been met and you realize that it is in your best interest to help others out since one day you may need it or that in helping others out, you create an atmosphere that makes it easier for you to remain successful in. We all benefit from lower crime (even if the crimes don't happen directly to you) and better educated kids tend to not become criminals.

Now, if you have a 800 square foot home with a roof, bathroom, and basic kitchen, then you've got everything you need. You don't need designer shoes or clothes, or a TV, Internet connection, cell phone, haircuts, filet mignon, etc. All of that are things beyond what is required to survive or, as some people who have less than you might describe it, obscene.

When you shine the mirror back on those people, they shriek from their reflection and try to change the subject by saying there's a "limit". That limit, they cannot define, but it's somewhere, and we should all just agree with it.

Hogwash.

I'd accept a job making $850,000 a year for testing pool floats and not even blink an eye. Everyone would. It's in our nature. However, there are those who'd take the job but bitch that the guy making a million for testing massage techniques is making too much.

Now, back to Exxon. Most people think that gathering oil means you just pick a random place, stick a straw in the ground, and suck up the easy cash. It's not like that. In fact, locating the oil and drilling for it is probably one of the most difficult jobs there is. Oil wells dry up too, they don't constantly pump out crude. So you're constantly moving around, trying to buy land (and appease the Gaia worshipping idiots), trying to keep your rigs running, etc, and that requires a metric shit-load of cash.

You need people to invest their money to make this happen. The way you do that is by turning such a profit that it is in those people's best interest to do so, and that means PROFIT.

Seriously, if you think these people are simply out to gouge the world of their cash, then by all means, grab some straws and start sucking out the crude yourself and see if you can sell the results at well below market prices.

I've got $3.25 a gallon says you can't.

rolled out on Tuesday, March 25, 2008 11:33 AM
Comments
# re: Obscene - Rustmeister

Rolled Out On: 3/25/2008 12:08 PM

You know, when you looks at the oil companies' profit margins, they're not doing all that well.

They're not losing money by any stretch, but there are a lot of companies (Microsoft) with crazy good profit margin.

A quick google turns up Microsoft's profit margin at 26-29%, while Exxon's is 9.4 - 9.8%.

Not bad, considering the money we're talking about, but far from "obscene".

# re: Obscene - Liberty

Rolled Out On: 3/25/2008 12:09 PM

On top of that, you've got federal regulations on efficiency and high competition from "new fuel sources" consistently driving (no pun intended) portions of your market away from you. Now you've got all that research, all that digging, transport, refining cost competing in an arena where the federal government and numerous activist groups are actively working to make your technology old and undesirable. To stay alive, costs go up. They have to.

When cars are hitting 100 mpg, conventional fuel costs may very well be $20/gallon. The folks driving gas guzzlers will be forced to pay for the fuel, or forced to pay an exorbitant cost for some fancy-shmancy new sardine-can-sized automobile that can take them from Jersey to Arizona on one tank of gas carrying at full capacity not much more than 2.3 people, a granola bar, a bottle of water (tap water, bottled water is too carbon-expensive), and a John Tesh CD. And you can be sure that Democrats will be howling all the way to the voting booth about how your average working Mom with two kids must be subsidized with taxpayer money because they can't live like this - conveniently forgetting to mention who started this whole farce in the first place.

# re: Obscene - MadRocketScientist

Rolled Out On: 3/25/2008 1:16 PM

Another thing everyone forgets is Exxon is publicly traded and has stockholders. The company is required by law to not only make a profit, but make as much of a profit as they possibly can or risk getting sued by the shareholders or having the stock value drop due to a selloff (which could lead to a devaluing of the company and a hostile takeover bid).

# re: Obscene - MadRocketScientist

Rolled Out On: 3/25/2008 1:17 PM

"high competition from "new fuel sources""

In my view, Oil companies should be expanding into these other markets as well. They like to advertise themselves as Energy companies, they should be working with all forms of energy, not just petrochemical.

And yes, I know many of them do.

# re: Obscene - DirtCrashr

Rolled Out On: 3/25/2008 1:32 PM

A review of Corporate taxe rates at TaxProf Blog shows that "Many states impose state corporate income taxes at rates above the national average of 6.6%." and in fact shows that U.S. States lead the world in high corporate tax rates -- so where's all that "Corporate Welfare" going??

# re: Obscene - straightarrow

Rolled Out On: 3/25/2008 4:52 PM

The limits are whatever is more than the speaker gets.

# re: Obscene - DirtCrashr

Rolled Out On: 3/25/2008 6:06 PM

So this is that "Corporate Welfare" I've been hearing about? According to Tax Prof Blog, " U.S. States Lead the World in High Corporate Tax Rates" Many states impose state corporate income taxes at rates above the national average of 6.6%. Iowa, for example, imposes the highest corporate tax rate of 12%, followed by Pennsylvania's 9.99% rate and Minnesota's 9.8% rate. When added to the federal rate, these states tax their businesses at rates far in excess of all other OECD countries. When compared to other OECD countries ... 24 U.S. states have a combined corporate tax rate higher than top-ranked Japan."
http://taxprof.typepad.com/taxprof_blog/2008/03/us-states-lead.html

# re: Obscene - Crotalus

Rolled Out On: 3/25/2008 11:08 PM

That limit that they cannot define is ALWAYS between them and whoever they call obscene.

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