Do you think $7.6 billion is excessive profit for an oil company?

Question

That's the 1st quarter only for BP. What do you think?

Answer 1

Of course it is, but what can we do about it? We have to drive, and they know that. They have us by the teabag, and there is nothing we can do about it!!

Answer 2

For profit? Yes, it is very excessive in these times.

That basically shows that gas prices are high because companies want to make a lot more money. I don't blame them for doing that but they should at least lower it somewhat and not raise the price drastically all the time.

Answer 3

Of course it is. That just goes to show you how they are raping us at the gas pump. Bush and the do nothing congress has allowed this to happen. Bush could care less. Were spending trillions in Iraq while Bush is preparing for his daughters wedding. The Middle class are preparing for funerals for their sons killed in Iraq and the rest of us are pinching every penny to pay for food and fuel. He could care less.

Answer 4

I think they know a thing or two about supply and demand. If you are paying for the gas then it is obviously worth the money you spend on it. why does everyone get so mad when someone can be successful?   Why is the price of a bottle of water not such a big issue? its about the same as gas and you can go and get some for free. Gas however has to be sucked out of the ground with expensive equipment and refined and shipped all over.

Answer 5

Excessive, sure. Can we do anything about it today; it's up to you. Aside from the government cutting taxes we are at the will of the oil companies and oil producing nations. Currently, as consumers, we can do more to reduce our use. Making sure our cars are well maintained. Changing the air filter, properly inflating tires, carpooling, and planning ahead to reduce unwarranted driving can help us all save a "little" money. The big changes will occurr when we have mass production of alterantive fuel transportation. Everyone is focusing on oil companies, which is fine, but the other side to this all is the auto industry. As early as the mid-60's there have been carburators developed that can actually achieve 50 mpg, but guess who bought the technology to keep it from consumers...oil companies..guess who sold it to them... auto industry. Look at the U.S. patent office records..who owns the patents to most of the technology? Humm? I think you'll find the answer very interesting. We need to also look at the materials used in making automobiles. 2/3 of the weight of a vehicle is for safety and structural purposes; while I'm not advocating un-safe vehicles, we need to look at the materials used...mainly steel. Steel has a terrible weight to strength aspect ratio. Things like carbon fiber are MUCH stronger when properly engineered and also MUCH lighter...visa vi, there is less energy needed to propel a vehicle = smaller engines. Smaller engines = better fuel economy.

Long story longer; there are lots of industries with their hand in our pockets. Oil, auto, steel, shipping and transport (who charge to transport vehicles by goss weight) and the list goes on.

Don't blame big oil..blame the system that has allowed them to capitalize on a natural resorce.  We love growth and commerce, the foundation of the creation of our modern society, but apparently we only like it until it gets too large and uncontrollable...then the government steps in and tried to deconstruct it's success...Microsoft?