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8 Bumps

Why do the oil and gas companies get bashed so much?

I hear people referring to the millions in profit they make every year and the fact that it's been at record numbers but I'm not sure. I mean if you google these companies you find not only do they employ millions they are all willingly trying to clean up refineries and all processes, they are contributing to the ecological nut fantasies and they help schools locally with grants and donations. It must be the profits. The numbers do sound large but did you know the average profit for these companies in this industry is about 8%

Apple makes up to 49 % profit on just their Ipad alone. Go figure.....

Liberals, would you like to spin this one?

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itsmesteph11

Asked by itsmesteph11 at 1:07 PM on Apr. 20, 2011 in Politics & Current Events

Level 39 (113,405 Credits)
Answers (35)
  • I get POd because they tend to exploit every world crisis, using it as an excuse to raise gas prices. I get POd because I know for a fact that the gas deliveries to all the stations in an area get their gas from a hauler that gets the gas at the same transfer station the other haulers do. But each station charges a different price. I get POd because I watched a delivery being made at one station who put their prices @ $3.63 per gallon, then make a delivery right across the street to a competitor who then raised the price per gallon to $3.75. TEll me how THAT makes sense.

    As for the petroleum companies...I get POd because as "Big Businesses" they get major tax breaks that we, the peons, do not, yet our prices continue to go sky high. It's the typical "rich get richer - poor get poorer" status of our country.
    specialwingz

    Answer by specialwingz at 1:16 PM on Apr. 20, 2011

  • First of all, I dont consider myself liberal or conservative- more like somewhere in between. Secondly, if you googled these companies-dont you think they've paid someone quite well to set up their website & spin things in their favor? While I dont begrudge a company from making a profit (that's kinda the point of goin into business) I do take exception to huge increases at the pump for whatever reason they can think of - then reporting record profits off the blood, sweat & tears of the avg. hardworking American!
    mrsmom110

    Answer by mrsmom110 at 1:17 PM on Apr. 20, 2011

  • Petroleum companies are like any other "Big Business". Let me give you an example that I personally live with. SO works for a major airline. He hasn't recvd a salary increase in over 5 years because their contract came to an end & has been in negotiations those 5 years. Contracts STILL are NOT settled. In the meantime, cost of living continues to rise. Due to the cost of fuel, the company has raised their fares which is understandable as they can't control what they are charged for jet fuel. However, at the same time they tell the workers they can't afford to give them salary increases & are claiming a $400mil loss for a quarter, the "top dogs" still received their $5mil bonuses each.

    Petroleum companies are no different. The ONLY reason they donate so much is to make sure it brings their taxable down to the bare minimum. When they show the bottom line "income" to the public, it looks less as donations come off the top.
    specialwingz

    Answer by specialwingz at 1:25 PM on Apr. 20, 2011


  • This is from BP's website. If their profits have risen 135% (and that was last year, they predict doing even better this year) there is no reason that consumer gas prices should have have almost doubled. $6,800,000,000 quarterly profits means there is no reason they need gigantic tax breaks and loopholes and sure as hell no reason they need to be subsidized by our federal tax dollars. 

    UpSheRises

    Answer by UpSheRises at 1:30 PM on Apr. 20, 2011

  • employ and donate at what cost? Having lived in Western Colorado, I've seen the damage drilling causes. Not to mention the dangers of fracking and deep sea drilling and transport of these products. Fracking pushes toxic chemicals into the soil and ground water.


    "The documents reveal that the wastewater, which is sometimes hauled to sewage plants not designed to treat it and then discharged into rivers that supply drinking water, contains radioactivity at levels higher than previously known and far higher than the level that federal regulators say is safe for these treatment plants to handle.


    The Times also found never-reported studies by the EPA and a confidential study by the drilling industry that all concluded that radioactivity in drilling waste cannot be fully diluted in rivers and other waterways.

    adnilm

    Answer by adnilm at 1:38 PM on Apr. 20, 2011

  • I dont know why people get angry. Its a business, and they are successful.
    gemgem

    Answer by gemgem at 1:38 PM on Apr. 20, 2011

  • Why do the oil and gas companies get bashed so much?


    why don't you look up the animals covered in oil. there's an answer.
    Anonymous

    Answer by Anonymous at 1:40 PM on Apr. 20, 2011

  • For the record...I love all energy companies. I repeat, I love all energy companies.
    jewjewbee

    Answer by jewjewbee at 1:46 PM on Apr. 20, 2011

  • Is this a serious question really? It has nothing to with profit, it is how they make their profit. Why do yo think they want to abolish the EPA. They want to be able to do what ever they want for profit, even if means it will ruin the environment, for us and our children. If the gas companies get their way will we even have clean water to drink. Crooks are the ones who wish there were no laws. What do you call the people who want less regulation?

    mommom2000

    Answer by mommom2000 at 1:50 PM on Apr. 20, 2011

  • I dont know why people get angry. Its a business, and they are successful.

    Answer by gemgem 5 minutes ago
    ________________________________
    Seriously?! They are successful b/c they have "U.S." by the balls! (sorry for bluntness) We NEED gas, they know we need it, so therefore, they can charge whatever they want, w/out regard of what it does to families, to industry, to tourism, etc. There are some greedy bastards our there (dont get me started on big banks!-lol) and I can only hope Karma will get them since no one else seems to be able to! (*not a promotion of violence)
    mrsmom110

    Answer by mrsmom110 at 1:50 PM on Apr. 20, 2011

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