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Originally Posted by mistral blue  Exxon made 11 billion ... in the 1st quarter of this year alone. |
Yes, and they paid $16 billion in various taxes last year. "Big oil" is not some person sitting behind a curtain like in the Wizard of Oz. It is made up of people, financial institutions, and mutual fund holders that own millions and millions of shares. The shareholders own oil companies just like they own any corporation.
If you have a growth mutual fund in your 401k, 457b, or simply in your personal portfolio, there is a BIG chance you own XOM, COP, BP, etc.
Big oil is you, me, and millions of other people! "Big Oil" and blaming it for something is bumper sticker politics.
Oil companies have billions invested in personnel, equipment, leases, contracts, etc., and cannot act like Bob's Lawn Mower Repair. Just because it is big (and it is huge w 107,000 employees worldwide) does not mean it is bad regardless of what politicians say. Last quarter the profit (TTM) was a little over 10%. Does that sound like robbery to you?