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Started By
Message
Why do many people hate oil and gas companies?
Posted on 7/3/14 at 10:33 am
Posted on 7/3/14 at 10:33 am
You always hear people talk about their "record profits". I mean, what is so different about what they do compared to any number of other companies?
This post was edited on 7/3/14 at 10:37 am
16
Posted on 7/3/14 at 10:34 am to PrimeTime Money
Because they are told to hate them.
Posted on 7/3/14 at 10:35 am to PrimeTime Money
I don't know but XOM is my largest stock holding which means I am Big Oil! 
Posted on 7/3/14 at 10:37 am to PrimeTime Money
Because they make more money than them and they supply a product, who's price seemingly goes up and down constantly for no reason, that is seemingly necessary for everyone's lives.
A small minority of people hate them because they violated their contracts in South Louisiana and never filled in canals that they dug while exploring for oil and gas in the marsh. Those canals are greatly accelerating land loss via coastal erosion as well as magnify storm surge during Hurricane events.
A small minority of people hate them because they violated their contracts in South Louisiana and never filled in canals that they dug while exploring for oil and gas in the marsh. Those canals are greatly accelerating land loss via coastal erosion as well as magnify storm surge during Hurricane events.
Posted on 7/3/14 at 10:37 am to PrimeTime Money
Because they lie about the environmental impacts of some of their activities. See: BP oil spill and subsequent "clena-up", which basically just pushed all the oil to the sea floor. Out of sight, out of mind, amiright?
Posted on 7/3/14 at 10:40 am to The Spleen
They make profits off of a product needed by Americans. In our system that their right. But the system is crap if people are deprived or ripped off. People before profits! supply and demand is bs
Posted on 7/3/14 at 10:41 am to PrimeTime Money
(no message)
This post was edited on 3/6/21 at 9:03 am
Posted on 7/3/14 at 10:41 am to JEAUXBLEAUX
quote:Is that a serious response?
They make profits off of a product needed by Americans. In our system that their right. But the system is crap if people are deprived or ripped off. People before profits! supply and demand is bs
Posted on 7/3/14 at 10:44 am to PrimeTime Money
Coveting
All they do is give the people what they want.
All they do is give the people what they want.
This post was edited on 7/3/14 at 11:02 am
Posted on 7/3/14 at 10:47 am to PrimeTime Money
The first "hating" I remember was after the Exxon Valdize disaster. They're an easy target. Like Wal Mart, Defense contractors, presidents, center midfielders...
Posted on 7/3/14 at 10:48 am to JEAUXBLEAUX
quote:
They make profits off of a product needed by Americans
Well, string those bastards up by the balls, yessiree.
quote:
supply and demand is bs
Wow
Posted on 7/3/14 at 10:49 am to LSURussian
quote:
I don't know but XOM is my largest stock holding which means I am Big Oil!
It's neat how our system makes it really easy to bet the house on pretty much any company one thinks is making "obscene profits."
ETA, Of course, we can always fall back on making bogeymen out of those darned Kochs, since they're still privately held.
This post was edited on 7/3/14 at 10:52 am
Posted on 7/3/14 at 10:52 am to Y.A. Tittle
The large oil and gas companies have large profits due to volume. However their profit margins aren't anywhere close to pharma, medical supplies, cosmetics, jewelry, etc.
Posted on 7/3/14 at 10:52 am to PrimeTime Money
quote:
"record profits".
Their profit % really isn't that high compared to alot of industries.
Pissed off liberals hate them because of lots of minsinformation how much oil and gas supposedly pollutes the environment.
Also, you have the financial tards who think that all of these "record profits" go into the savings account of 3 or 4 old white men who run each company. They are ignorant about how many people these companies employ and all of the profit sharing, stock plans, 401K plans, IRA's, etc that oil and gas company profits are great for.
Posted on 7/3/14 at 10:54 am to PrimeTime Money
I know during my time in the military we supplied security for their platforms and tankers, so there's that.
Posted on 7/3/14 at 10:55 am to Y.A. Tittle
quote:Exactly. It's like people believe an oil company like Exxon is really a Darth Vader-type person sent here from the Death Star to destroy us all.
It's neat how our system makes it really easy to bet the house on pretty much any company one thinks is making "obscene profits."
These companies not only contribute to our personal wealth and provide products that we need and enjoy, but also pay billions of dollars a year in taxes and employ hundreds of thousands of people in high paying jobs both directly and indirectly.
So what's not to hate, right???
Posted on 7/3/14 at 11:00 am to PrimeTime Money
i work for GE Oil & Gas. best move i've ever made
Posted on 7/3/14 at 11:10 am to PrimeTime Money
Because even the greenest of the green don't realize how much their lives revolve around and rely on petroleum products.
Posted on 7/3/14 at 11:17 am to Choctaw
I love Big Oil. I really love them every quarter when the dividends are paid.
Posted on 7/3/14 at 11:38 am to LSURussian
quote:Granted they do all that, but when an industry gets so big that it impedes progress and has enough muscle to move governments to war, destroying countless lives in the process, it sort of dampens my enthusiasm for them.
These companies not only contribute to our personal wealth and provide products that we need and enjoy, but also pay billions of dollars a year in taxes and employ hundreds of thousands of people in high paying jobs both directly and indirectly.
So what's not to hate, right???
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