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Journal nizo's Journal: REDUX: I for one welcome our new oil baron overlords 13

Journal by nizo on Thursday July 27, 2006 @05:10PM

Oil companys continue to post record profits. Kinda like the last time I wrote about it. Where is my "bend over America" icon?

As an extra happy note, if we took all of their profits (estimated to be 33.6 Billion; it will probably be more) we could pay off 11% of the cost of the war in Iraq!

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REDUX: I for one welcome our new oil baron overlords

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Chevron, Exxon, and BP all record profits (Score:2)

by WillAffleckUW ( 858324 ) writes:

Good thing I don't believe a word the red commie Bushies say and have 2.5 percent of my retirement in an Energy Fund (and about 50 percent in various Euro Stock funds, especially value ones).

Basically, if you own US stocks - until probably about April 2008 - you're not going to do well. The money's being siphoned off by the CEOs and other execs, even though the average corporation made 11 percent this past year, CEOs/execs made 33 percent, and the middle class made - wait for it - -1 percent (yup, NEGATIVE
- Re:Chevron, Exxon, and BP all record profits (Score:2)
  
  by RM6f9 ( 825298 ) * writes:
  
  No one can blame you for following the example set by Dick Cheney, at least, not his financial examples - you'll please forgive me if I decline in advance any invitations to go quail hunting with you?
  - Re:Chevron, Exxon, and BP all record profits (Score:2)
    
    by Philip K Dickhead ( 906971 ) * writes:
    
    9 Months from now, Cheney will be doing his Ariel Sharon impersonation.
    
    On the serious side - O.K. their all serious - why the fuck does Dick Cheney need MORE money? That's why they'll all fry in hell. Killing babies for billions they can never use.
    - Re:Chevron, Exxon, and BP all record profits (Score:1)
      
      by PreviouslySeen ( 714752 ) writes:
      
      "need MORE money..billions they can never use"
      
      Ive often tried to wrap my head around that question, but cant seem to put myself in (or afford) those thousand dollar shoes.
      
      My father used to say that "the rich are not like you and me, they are an alien species so avoid them if you can".
      
      So while I'll never truly understand why a millionaire or billionaire CEO will rape a company for a huge bonus while stopping the pension plan and 401k match for their employees, I definitely have come to experience what my fat
      - Re:Chevron, Exxon, and BP all record profits (Score:2)
        
        by nizo ( 81281 ) * writes:
        
        Granted I wouldn't pillage for billions, and I hate Microsoft, but I really do envy Bill Gates' ability to dedicate his life to making the world a better place through philanthropy. You could do a lot of good with billions of dollars, which would be a nice change from what people usually do with billions of dollars.
        
        Re:Chevron, Exxon, and BP all record profits (Score:1)
        
        by PreviouslySeen ( 714752 ) writes:
        
        Perhaps during one of his do-good moods he could devote some of his philanthropy to keeping some microsoft jobs in the country?
        
        Re:Chevron, Exxon, and BP all record profits (Score:2)
        
        by nizo ( 81281 ) * writes:
        
        Hehe good point. The last time I had to call to make them fix an XP license I was talking to some guy in India. At least his english was good.
  - Re:Chevron, Exxon, and BP all record profits (Score:2)
    
    by WillAffleckUW ( 858324 ) writes:
    
    you'll please forgive me if I decline in advance any invitations to go quail hunting with you?
    
    Actually, I grew up learning how to quail hunt as a small boy in Pennsylvania, ok grouse too.
- April 2008? (Score:2)
  
  by benhocking ( 724439 ) writes:
  
  Perhaps you mean April 2009? I'm trying to figure out what's significant about April 2008. The new president (whoever that'll be) will be inaugurated in Janurary of 2009. April is the corresponding tax deadline. Perhaps (likely) I'm totally missing your allusion.
  - Re:April 2008? (Score:2)
    
    by WillAffleckUW ( 858324 ) writes:
    
    Sorry, old investing axiom. Even during Republican presidencies (when you're best investing outside the US), you want to start moving your money back to the US in the final year, as the incumbent, even if leaving office, always uses various tricks to pump up the markets as he goes, to make things look better than they are.
    
    Thus, if like me you're invested mostly in European funds, you start selling them and moving the money into the US market in 2008. I used April because the uptick usually hits around the
    - Makes sense (Score:2)
      
      by benhocking ( 724439 ) writes:
      
      Although I'm tempted to say that "past performance is no indication of future returns" - mainly because I'm so ignorant it's the only thing I can say to try to cover it up some. :)
      
      (I do know enough to know that this is kind of like the old "correlation does not prove causation" statement. Although true, it certainly does not imply that correlation disproves causation or even that correlation doesn't improve one's argument for causation.)
  - Re:April 2008? (Score:2)
    
    by nizo ( 81281 ) * writes:
    
    I believe that would be the end of the first fiscal quarter after Bush leaves office. For the sake of humanity, I hope that he is the last Bush to ever come within 100 miles of the White House.
Imagine... (Score:2)

by Mick Ohrberg ( 744441 ) writes:

...those $33.6B applied towards alternative fuel/energy research.

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Journal nizo's Journal: REDUX: I for one welcome our new oil baron overlords 13

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REDUX: I for one welcome our new oil baron overlords

Chevron, Exxon, and BP all record profits (Score:2)

Re:Chevron, Exxon, and BP all record profits (Score:2)

Re:Chevron, Exxon, and BP all record profits (Score:2)

Re:Chevron, Exxon, and BP all record profits (Score:1)

Re:Chevron, Exxon, and BP all record profits (Score:2)

Re:Chevron, Exxon, and BP all record profits (Score:1)

Re:Chevron, Exxon, and BP all record profits (Score:2)

Re:Chevron, Exxon, and BP all record profits (Score:2)

April 2008? (Score:2)

Re:April 2008? (Score:2)

Makes sense (Score:2)

Re:April 2008? (Score:2)

Imagine... (Score:2)

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