Windfall Profits ????

windfall

Definition

Money received which was not expected and not a direct result of something the recipient did.

 

There are mumurings that those dastardly oil company executives have earned excessive profits because of the rising price of gasoline/oil.  I will agree that the cost of a fill-up is beginning to create this sort of feeling....

                                     

 It seems like only yesterday, o.k. a lot of yesterday's, that I was working my way to owning my first car and gas was only about 30 cents a gallon. I think it is amazing that I can remember that, much less use the old guy reference so early in a blog.

I came across the following snap shot and it sort of un-nerved me that the prices seemed so reasonable. The rising prices have left my sense of usual and customary a bit dazed.   

                                                             

 

The outcry from the public is growing louder everyday. This is outrageous. How can the price of a barrel of oil keep going up? I couple weeks ago, it hit $100 per barrel. Now it is approaching $115. Hmmm, it a gallon of gas costs me $3.50 and it goes up at the same rate...yikes....gas will be over $4.00 per gallon.

     It is time for the Government to step in and hold hearings. 

 

It must be those oil companies. Or is there another culprit behind this.........

 the chinese?????      the residents of India/Pakistan ????

or maybe.....

                                                  just maybe ........

WE DID IT TO OURSELVES ! ! !

 Did we really need that?  or this? 

Did we really ever need these..?  

While I understand the angst of those of us that have to drive to earn a living, and I understand the resentment we feel towards those that are making large sums of money, I don't see why we should penalize others for our own behavior.  Why do we think that we can pick and choose when supply and demand can come into play? Throughout Europe, they have been paying higher prices for years. Hmmm, what did they do?  They introduced an efficient automobile.

                                                   

We can spend all our time blaming others, or we can realize that after a long nights rest . . .

      We have made our bed....you know the rest.....

 
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16 Comments on Windfall Profits ????

John, I agree with you!  These politicians rant and scream about taxing "windfall profits" -- yet the oil companies already pay more taxes than half the populace combined.  Why not lower the taxes that we pay at the pump?  After all the government has never produced a single drop of oil for us -- they just tax us on the efforts of the producers.

And there's absolutely no reason that anyone needs to drive around in a Hummer!

04/18/2008 08:28 AM by Brian Block -- Northern Virginia & D.C. Real Estate (RE/MAX Allegiance)


Three years ago I evaluated the cost of going solar. The payback was 12 years for the investment, even with the State of NJ subsidizing the install with considerable credits. I learned that one of the major manufacturers of solar equipment/cells is none other than British Petroleum.

If our domestic energy costs do not decrease it's not whether the recession will be short termed but if the depression can be avoided.

04/18/2008 08:36 AM by Andrew J. Lenza (ABR*GRI*MBA) Monmouth County NJ Real Estate Broker (Andrew J. Lenza Realty)


We all have to take responsibility for the cost of oil and our prior excessive use now we need to get to the process of finding a more efficient way to get around.

04/18/2008 08:45 AM by Terry Westbrook ~ Realtor(R) Grand Rapids Mi Ada/Cascade Real Estate (Five Star Real Estate, LLC Grand Rapids , MI)


By the same token - these companies certainly don't require the vast amount of corporate welfare we have been dishing out.   As far as going solar is concerned - up until now it really hasn't been at all cost effective and perhaps the subsidies that have gone to oil companies should have gone to homeowners wishing to conserve energy.  Yes, we have some subsidies....but here is a situation where the government should put less money in the hands of oil companies and more in the publics pockets in order to make conservation a national goal. 

We bungled this and I'm sure the oil drenched administration that we had - had nothing to do with the fumble ....nooooo not them. 

04/18/2008 08:53 AM by Ruthmarie Hicks (Keller Williams Realty)


I'm with you and Brian Block John.  Personally, I drive to and from work....and that's pretty much it.   I was never a 'Car Guy' and never will be.  To put it bluntly, I'll never be the their 'Customer of the Month.'  It's time, as it always will be, for us to take action and responsibility into our own hands.

04/18/2008 08:59 AM by Jason Sardi, Pennsylvania Mortgage Broker (First Choice Equity Group Inc.)


I think the real estate decline is just the tip.  With home equity lines people purchased large cars, that now require expensive gas.  Food prices are going up like crazy, and with declining home prices...no equity lines to use as an ATM.

We are in a nasty cycle right now and like Andrew, agree that if we don't get ourselves under control as consumers, recession will be a nice word for the state of our economy.

04/18/2008 09:59 AM by Melina Tomson, M.S. Salem Oregon Real Estate Specialist (Tomson Burnham, llc)


If our country can put men on the moon, we can certainly solve our energy and fuel crisis with alternative fuels and as yet undiscovered methods. We just have to make it a priority. The current gas prices are starting to get our attention - they have been seriously affecting the poor and barely-making-it group for quite a while.

04/18/2008 10:07 AM by Bonnie Westbrook Grand Rapids MI Real Estate Marketing (Five Star Real Estate Ada MI)


I'm making record profits from my investments in the energy sector, so to speak - so I can afford to drive my gas guzzling SUV. If I were to  purchase and drive a hybrid, my state would charge me a heavy tax to make up for their loss of my gas tax dollars. This IS about money and greed. Make no mistake. So I will live as I damned well please.

Someone is bound to stone me for my opinion. Fortunately, the hull of this beast I drive will keep me safe and unharmed :)

04/18/2008 11:09 AM by Portland Oregon Real Estate Broker * Jennifer Bukaty * (RE/MAX equity group, inc.)


Brian... Those gas tax dollars are used to build and maintain our freeway system. On the other hand, if they didn't build them, we wouldn't use them... a solution of sorts.

04/18/2008 11:12 AM by Portland Oregon Real Estate Broker * Jennifer Bukaty * (RE/MAX equity group, inc.)


Jennifer, I have no problem with an SUV -- if people want to drive them, that's their own choice and they should not complain about gas prices.  I drive a Jeep Grand Cherokee myself and not a Prius.  Sure, tax dollars are supposedly used to maintain our freeway system.  Of course, here in Virginia, there are some practically uninhabited rural areas that have beautiful brand new roads, while in Northern Virginia where most of the drivers are and most of the tax dollars come from, we suffer with congestion and outdated highways.

Surely, there are better solutions for the freeway system that can be found through the private sector than through government programs. 

04/18/2008 11:28 AM by Brian Block -- Northern Virginia & D.C. Real Estate (RE/MAX Allegiance)


I drive a BIG SUV.  I want a 7 seater for large families.  It also saved me what a thoughtless Deer jumped in front of me last year.

Of course gas will stay high.  Things only go up.  They don't come down.  Of course, we could:

Drill in Anwar

Drill in the Golf of Mexico

Mine Shale

Burn Coal

Build Nuclear

Put wind farm off shore from Teddy Kennedy's house

Let Iraq pay for some of their own defense.

Let the Soudis pay for some of their own defense.

Take the floor out from under corn prices so David Letterman doesn't get any richer.

But, we won't do any of those things.  What will we do??  Only that which the political contributors pay our Congress to enact laws to protect. 

04/18/2008 06:28 PM by Lenn Harley, Homefinders.com, MD & VA Real Estate


Good post John...I here a lot of complaining, but little talk or action on conservation!

04/18/2008 06:33 PM by William Feela Whispering Pines Realty (Whispering Pines Realty)


A solution is on the horizon my friends. Check out my "JC Bell" blog and you will see what I mean. As for the rest - Gas is more than $10 a gallon in the UK right now!

04/18/2008 10:10 PM by Simon Conway (Picket Fence Realty)


I don't care if gas is $10 a gallon in the UK.  You can fit the almost 3 UKs in Texas. 

 

 

04/19/2008 05:40 PM by Lenn Harley, Homefinders.com, MD & VA Real Estate


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Real Estate Agent: John MacArthur The MacArthur Group (Long and Foster Real Estate, Inc.)
John MacArthur The MacArthur Group
Olney, MD
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