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Old 04-19-2006, 06:16 PM   #1
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The other day I was filling the tank of my motorcyle with $15.00 of fuel. I started thinking about what a pleasure it would be to fill the tank of my motor home with a 150 gallons of diesel. The last time we filled was in Mexico and it was about a $1.85 per gallon. So you know how I was feeling!

Right after that I heard about the CEO of Exon retiring and receiving a four hundred million dollar retirement. The story calculated that he was paid over $100,000 for every minute of his life while he was the CEO of Exon.

Now I know why I'm paying so much for gas!

Michael
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Old 04-19-2006, 06:16 PM   #2
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The other day I was filling the tank of my motorcyle with $15.00 of fuel. I started thinking about what a pleasure it would be to fill the tank of my motor home with a 150 gallons of diesel. The last time we filled was in Mexico and it was about a $1.85 per gallon. So you know how I was feeling!

Right after that I heard about the CEO of Exon retiring and receiving a four hundred million dollar retirement. The story calculated that he was paid over $100,000 for every minute of his life while he was the CEO of Exon.

Now I know why I'm paying so much for gas!

Michael
2005 Dutch Star 40' 4 slide
2005 BMW K1200LT motorcycle on lift
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Old 04-19-2006, 09:06 PM   #3
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Until the real owners, shareholders, pull on the reigns I don't see any thing to change that. Certainly the free market economy must prevail, and we cannot let the gov't dictate compensation.
350 million gallons of gasoline are produced each day. that's 127.75 billion gallons per year. That works out to 3 tenths of a cent per gallon to pay for his entire compensation in one year. That's not much.

I agree his retirement sounds pretty excessive, is excessive by my standards, but then I'm not in his shoes. I think I could get by dandy with 2M. At 4.5% I could retire on 90K a year. I could survive....barely
I'd like to have his private jet available to me too. With his compensation I'd even buy the jet fuel
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Old 04-20-2006, 06:44 AM   #4
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I should qualify that 3 tenths of a cent per gallon is on ALL gasoline produced not just Exxon.
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Old 04-20-2006, 07:37 AM   #5
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I appreciate his efforts to keep the gas flowing. Still NO GAS LINES and SHORTAGES. Yeah!!!!!
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Old 04-20-2006, 09:26 AM   #6
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Well I accomplished a first today! Took the truck and a diesel fuel trailer that I have at the ranch in to Super WallMart and bought 216 gallons of diesel (26 into the truck and 190 into the trailer). Trailer can hold 250 gallons, was almost empty, and I figured that diesel prices will not drop anytime soon...so bite the bullet and refill the tank trailer.
What was the first you ask???
Well I spent $550 at the fuel pump It was $2.56 a gallon. Hope that guy enjoys his retirement
P.S. This will of course cause the price of diesel to fall dramatically. They were just waiting for me to fill that trailer
P.S.+1 The trailer is equipped with machine guns and I ain't tellin nobody where it is at, so dont try and find it cause Murphy is manning the guns & she shoots suprisingly well for an Eog
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Old 04-20-2006, 10:49 AM   #7
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I may take some heat on this, and it is not necessarily my opinion. But, what if you were a stock holder in this company and it was doing OK, but not setting any records. This guy resents himself and says "I can run this company to where profits will be unheard of etc." You say "no way". He says, "OK, If I don't produce, you pay me XX dollars. If I do produce you pay me XXX dollars".
Now you can't lose if he doesn't produce, and if he does the company (and you as a stockholder in the company) make billions and billions for the company.
Now is this guy worth the money? Sounds like a tremendous amount of salary or whatever they are calling it, but look at the money he has made the company.

NOW, before I get jumped, think about it. Would you turn those profits down if you owned the stock?
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Old 04-20-2006, 12:13 PM   #8
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That would depend on if i could pay my annual fuel bills with my stock dividends .
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Old 04-20-2006, 04:45 PM   #9
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The problem is that obviously I'm not a conservative. That probably means I don't understand big business?

For what it's worth here is how I see some of your explanations. When you have a commodity like gas that we all need and depend on, and the supply is controlled by only four companies how can we ever expect to see fair trade practices? This is a monopoly.

Boosting profits must be extremely difficult. Just a guess here do you think it would really take more than a conference call between the big 4 to raise the price of a gallon of gas? There is simply no justification for $4.00 gas and that is where we are heading this summer. There is no justification for diesel costing up to 75 cents a gallon more when it takes less to refine. There is no competition! They can charge any amount the four of them decide to charge. There is no competition so how does this qualify as fair trade.

We all know that oil companies own our government. Bush and Cheney are both oil executives. The oil companies were the big money behind the Bush election as well as many members of congress. We all know that's a fact. That is why there are only four oil companies. The mergers were approved by elected officials who for all intensive purposes work for the oil companies. Notice that every so often they bring the Oil company execs in for a hearing? That's to make us feel good.

As for stock holders turning down huge compensation packages, ya right. The CEO's themselves own hundreds of millions in stock. So how much is my vote going to count? Personally I really don't think there was anything miraculous about the huge increase oil company profits. Even if there was, does it really justify paying one employee $100,000 per minute?

The real question is where does it end?

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Old 04-20-2006, 07:12 PM   #10
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Have any of you guys received the e-mail, that has a plan to get the attention of the 2 largest oil companies, so they will lower their prices? First the plan was, for everyone to refuse to buy fuel on a specific day, but the oil companies know we will have to buy fuel sooner or later, so that wouldn't work. But the second plan, just might get them to lower fuel prices if everyone sticks to it. The plan is, don't buy any fuel at all from the 2 largest Exxon and Mobil, until they drop to $1.89 a gallon. If everyone refuses to buy from those two until the price comes down, then the other oil companies will have to come down to compete. It will only work if we all stick together. Think about it. It might just work, and it won't hurt to try.
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Old 04-21-2006, 04:48 AM   #11
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Be nice if that would work..but here is how they will counter it. Exxon / Mobil call up the other two companies and say "Hey buddies, the peasants are revolting and aren't buying from us...raise your price to $8.00 a gallon and teach them a lesson". So we are forced to go back to Exxon / Mobil and buy at $4 a gallon, once we do then all four go to $5 a gallon.
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Old 04-21-2006, 06:22 AM   #12
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I know with the outrageous profits being posted by Exxon/Mobil and with the excessive retirement for the CEO, I'll buy my gas from someone else.

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Old 04-21-2006, 06:50 AM   #13
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Well, how do we not buy from them, when they are also filling the tanks of the no name brands?
After spending time with our son in Ireland, and seeing what he pays for gas (yikes!!), our gas seems to be a bargain. The way to help your pocketbook is to start using public transportation. But unlike the people in Ireland, we like having our own private vehicles, and not waiting on a street corner for transportation. They are used to catching buses and trains. We even took a bus to the airport, and for the three of , and it certainly took less time, since the bus could go in the bus lane. I wish we had buses that went everywhere like they did. I could save my gas budget for when I wanted to take the trailer out.
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Old 04-21-2006, 06:53 AM   #14
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<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by TXiceman:
I know with the outrageous profits being posted by Exxon/Mobil and with the excessive retirement for the CEO, I'll buy my gas from someone else.

Ken </div></BLOCKQUOTE>

I think I'm going to do the same thing. I'm not sure it will have any real effect but if enough of us decide to do it who knows?

Personally I think they will keep raising the price until consumption drops significantly and lowers profits. Unfortunately it will probably take gas at $5 or $6 a gallon before we wake up and take alternative transportation.

What us peasants really should do is replace all of our elected representatives. Bush's and congress's approval ratings are in the mid 30's. Truly that is about as low as it can get as the 35% don't want to be confused by the facts. This isn't a republican vs democrat thing. I say remove them all. Most of them are trading money for their vote when they are suppose to representing you. We need to let them know we are tired of being sold out and won't tolerate it anymore. The problem is the American people are asleep or OK with anything as long as we deny full citizenship to women and people we don't like.. The politicians know they are safe and the corruption as we are too lazy to demand change.

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