Exxon has a profit of 45.2 billion profit while the rest of the world is unemployed.
http://news.yahoo.com/s/ap/20090130/ap_o鈥?/a>Why doesn't anymore bring the oil companies up on charges?
Wow! J.J. you have appeared to struck a nerve of some. Like you I feel that the profits were obscene, but I can not fault anyone for making a profit when there is a profit to be made. Now if I could just figure out how to make profits from not working and playing on Yahoo all day, now that would be obscene.Why doesn't anymore bring the oil companies up on charges?
Suppose I own stock in Exxon. Suppose that California's state employees retirement system owns stock in Exxon. Is it fair to those people who own Exxon stock or mutual funds that do to be hurt? Anyone can own that stock and many fireman and policemen are among those who do.
ADD
Sorry for the smart aleckness. If they really did violate some laws I'm sure they will be pursued.
while i am the first to agree the oil companies profits are based on extortionate prices at the pumps (well here in the UK anyway).
at the end of the day they have not done anything wrong-they can charge what they like for their products.
How much do you think they invested to make the $45B? The last I heard, they were making less that 7% on their investments. That is not an unreasonable return on investment. On the other hand, I bet you sure do like driving to work. Try walking some day.
Making a profit isn't a crime. Gas is cheaper per gallon than milk is, and milk is a renewable resource, oil is not.
I have a better idea... let's bring up all the Hollywood celebrities on charges since they make millions of dollars for playing make believe and then have the audacity to tell the rest of us how to think.
they have broken no laws
you can charge anything you want for a product.
Its not illegal to take advantage of selling a high value, sought after product. It would only be illegal if they used illegal means to manipulate the supply and/or price.
Charges for what? Making a profit? Absolutely can't happen.
No one has the proof to convict them....yet.
Charges for what? Ahhhhhhhh never mind
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