Quote:
Originally Posted by TAZ
I think that is a good point of view. It's hard to adjust to though when you have lived through the late 90's and buying fuel during that time. I do know that incomes have gone up and most households consist of two incomes. Europe's gas prices are far higher than ours.
Now what does piss me off is that despite that justification for the pricing increase. Exxon records the largest profit ever for a US based company.....
http://money.cnn.com/2008/02/01/news...xxon_earnings/
So while everything goes up in costs it would appear that the oil companies are guilty as hell for price gouging.
-TAZ |
If its any consolation, Exxon Mobil is mostly owned by investment firms in mutual funds. Inside ownership is below 1% so the old idea of "oil tycoons" is out the window....I guess you could make the argument that the CEO is the oil tycoon but that is another thread.
That's right, upon retirement grandad will be using these dividends to buy himself a new EZ-Go wheelchair. There is a moderate level of private ownership within the individual investor sector. On the bright side, these "huge dividends" are padding portfolios in this time of recession. If you have ownership of stocks in mutual funds, it is likely you have received some of the dividends.