I've seen lots of news stories recently about these "damn oil companies" who are making all this money. This is another example of stupid reporting that flies in the face of everything our country stands for. Oil prices (per barrel) have been higher in the last year than they have ever been in history so it stands to reason the oil companies will make more money.
I guess I just don't get the whole argument about this being bad. Profitable companies make money and create shareholder wealth for grandma and grandpa. They also create jobs for people like you and me and enable us to purchase inexpensive goods and services. Sure, gas is more expensive than it was two years ago, but it's still cheaper to go to the local BP station than to explore, transport, and refine it yourself. When the tech market was going crazy in the late 90s, the computer companies were making shitloads of money and you never heard about those "greedy, evil computer guys", did you? Why is it that oil companies and drug companies are now seen as the big bad wolf? The last time I checked, making lots of money wasn't a crime.
3 comments:
I'm just glad I passed on your suggestion to short oil, Mr. Bizwiz. It's still stuck at 60 a barrel. :-)
And yes, we geeks did talk about the "greedy, evil computer guys," but it was too much to say. So we shortened it to "Microsoft," or "Bill Gates" if we were feeling especially angry.
MT.Net
Patience, grasshopper. I might not have prognosticated Katrina and Rita screwing up supplies and refining, but by early 2006 oil will be somewhere around $50 a barrel...give or take a few dollars.
yup old G-Ma and G-pa love those hefty BP and XOM dividend checks!! Ring the register baby!!!
Although in Boynton they will still complain about gas prices!
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