GM and the Oil Companies....is it only me but ...
 

Am i the only one wondering why the Oil Companies were not the ones to foot the bill for there "oil burning cars and trucks"? If this is how the Oil industry makes it money why didnt they at least be considered to foot this bill instead of the good ol USA taxpayer? :(

Fuck GM and Fuck the Oil Companies..


Oil industry awash in record levels of cash

By John W. Schoen
Senior producer
msnbc.com
updated 9:12 a.m. ET, Thurs., July 21, 2005


John W. Schoen
Senior producer
msnbc.com

When major oil companies report their quarterly profits next week, they're once again expected to post record numbers. With crude trading around $60 a barrel, the oil industry is enjoying one of the biggest windfalls in its history. But as the industry looks for places to put that cash, it's finding it harder and harder to put funds to work finding new deposits of oil and natural gas.

By just about any measure, the past three years have produced one of the biggest cash gushers in the oil industry?s history. Since January of 2002, the price of crude has tripled, leaving oil producers awash in profits. During that period, the top 10 major public oil companies have sold some $1.5 trillion worth of crude, pocketing profits of more than $125 billion.

Full Story click here?

Now this..

Bailout Watch 553: If We?re Going to Own GM Shouldn?t We Actually Own GM?

That?s the question motivating an alternative plan for the government?s ?investment? in GM drafted by Sen. Lamar Alexander. Under Alexander?s plan, the Treasury secretary would be required to distribute the government?s GM and Chrysler stock to the 120m or so Americans who submitted tax returns for 2008. ?This is the fastest way to get the stock out of the hands of Washington and back into the hands of the American people who paid for it,? said Alexander. The proposal, which Alexander plans on attaching to the current tobacco regulation bill would:

? Prohibit the Treasury from using any more TARP funds to bailout GM or Chrysler.
? So long as the government holds stock in these companies, require that the Secretary of the Treasury and his designee have a fiduciary responsibility to the American taxpayer to maximize the return on that investment.
? Not later than one year after each company emerges from bankruptcy, require that the Treasury distribute its common stock holdings in that company evenly to every American who paid taxes on April 15.

Full Story Click here

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why do i care how much the oil companies make in profit? Aren't they a fucking FOR PROFIT company?

You don't have to buy gas if you don't want to.

All I know is that a few months ago when the govt. gave the car manufacturers BILLIONS of dollars in tax payer money it was supposed to stop them from going bankrupt and save everybodies jobs.

Couple of months later. They are bankrupt and hundreds of thousands of jobs are in the shitter.

You know somebody made a fortune on all those billions of dollars. And the little guys still got squashed just like I knew they would.

What a crock of shit.

Yes sirrrrrrrr. Its a cash grab. :mad:

Sometimes apples give me gas.

To be fair, the car companies should and could have done this themselves, by investing their profits in oil companies over the years.

Like that's ever gonna happen. :1orglaugh

The big assumption here is - that customers would even want to buy another GM vehicle again.

I've got two leased Pontiacs out in the driveway at the moment. When the lease is up this Aug. and Oct. on them - hell will freeze over before I ever consider another GM product.

The service record of both vehicles reads like War & Peace.

Welcome to the US of A :( It's better than other places but it doesn't mean it doesn't have its stupid shit going on.

Oil company profits are only about 10% where Apple, Starbucks and many other public companies are in the 40% range !

why the fuck would oil companies care of GM goes out of biz ?

am i missing something here ?

People are now more likely to buy imported more efficient cars, those use less gas, so there might be less demand for oil companie's products?

money will kill us all

If Nastydollars goes out of business do you feel a need to bail them out? You make money out of their products etc... oh right this was a dumb assumption.

I saw on the news the stat that although Honda has less than half of the dealers that Chrysler or GM has, they still sell more than double the number of units. So, I'm tired of hearing how all these dealerships closing is a bad thing. GM did this to themselves by not properly adapting to the changing demand. The $40,000 Chevrolet Volt electric car will not be their salvation.

Why should the shareholders of the oil companies be punished because GM and Chrysler were run into the ground by the unions? I fail to see the connection between the two.

There are still plenty of gas guzzling cars out there GM is not the only one that makes them.

its all going to be electric very soon, the technology is there and affordable, all the same the electricity will need to come from somewhere