Originally Posted by
Greg Peterson
Several billions in profit is a lot of profit. Nevermind the percentage. That's a whole lot of money. Margins may be low, but everyone needs oil, so margins don't matter as long as they stay on the plus of the ledger.
Great Greg, do you have a 401K program? If so, YOU are the one profiting from all these profits of the big bad greedy oil companies. The truth, look it up, is that huge percentages, like 30% of the oil stocks are owned by pension funds. You know, those things where workers get quarterly statements that tell them they made or lost money?
Oil executives own about 3% of the stock. The rest is owned by IRA's, Pension Funds, and normal people like you and me that own stock. So when you're prepared to watch your pension and IRA's go down instead of up, then we'll all be good. You can't have it both ways. You can't want your retirement funds to go up and then bash the companies that are responsible for it going up.
They are PUBLICLY TRADED COMPANIES, meaning people just like those reading this forum are the one's that own the company. There is no "Darth Vader" sitting in a room counting the zillions of dollars.
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