LAST EDITED ON Jul-01-08 AT 09:19PM (MST)[p]
LAST EDITED ON Jul-01-08 AT 09:15?PM (MST)
Zigga said: "If the oil companies say that this is all out of their hands then why don't they give us all some kickbacks from all their huge profits?"
apparently you don't understand owning stocks in companies? The "kickback" has already been flowing, especially with alot of these companies buying back their own stocks. The dividends have been really nice on some oil stocks as well.
Some current kickbacks available to you.
"After plowing $21 billion of that cash back into exploration and production projects last year, the company essentially gave the rest of it back to shareholders. It spent $28 billion repurchasing shares (the company has bought back 20% of its shares in the past five years), and this year it raised its annual dividend by 14%, to $1.60 a share. At the current share price, the stock yields 1.8%"
"Over the past 19 years through March 31, Exxon's stock returned an annualized 15.1%, compared with an annualized 10.7% for Standard & Poor's 500-stock index."
"Even after all that, the company still has $41 billion -- nearly $8 per share -- of cash on its books. In a downturn, when the prices of new properties and projects come back to earth, Exxon can go on a nice buying spree, if it wants to. Some analysts suggest that the company is husbanding some of its cash just for that purpose."
http://www.kiplinger.com/columns/picks/archive/2008/pick0620.htm
I have been getting my kickback from the oil companies since they were cheap stocks back in the 1990's. You don't even have to be an evil speculators to own a piecs of a publicly owned company.
So I will wager that gasoline goes higher in 2009 after Obama is elected because 80% of the worlds oil reserves are locked up by governments and they won't open the oil spigot just because we elect a democrat. If the President of the U.S. had a giant easy button in the oval office to press in order to bring down the price of gasoline it would have been pressed daily since the days of the Coolidge administration.
Why not make it for something fun. If I lose I will take you on a Montana upland bird hunt for huns and sharptail, will even through in duck and goose just for fun, maybe pheasants as well, I will provide access to private lands and lodging. If you lose you take me on a hunt in your home state.
Nemont