Evil "Big Oil"

I have heard a lot about taxing billionaires and millionaires. I have heard a lot about "outrageous profits" of big oil companies. I have heard a lot about "those rich people who own Exxon" and their "outrageous profits." I have heard everyone complain about gas and oil prices.

Frankly, I am tired of it.

If you would like to make "outrageous profits", why don't you go into the oil business?

Is there too much capital required to start up?

Is there too much risk? (Like Shell who just lost $4 billion because of "a ruling by the EPA’s Environmental Appeals Board to withhold critical air permits.")

http://www.foxnews.com/us/2011/04/25/energy-america-oil-drilling-denial/

Do you lack the knowledge to drill one oil well, or to refine one barrel of oil into gasoline?



Well, great news! You probably are earning some of those outrageous profits in spite of your lack of capital, aversion to risk and lack of knowledge. If you want to talk about outrageous profits, Exxon is the place to start and stay a while. They are setting records.

I direct you to the list of owners of XOM (otherwise known as Exxon Mobil):

http://moneycentral.msn.com/ownership?symbol=XOM&Holding=Institutional+Ownership

When I worked at a university, we had a retirement plan called TIAA-CREF. They own 35.6 million shares. That puts them in the top 10 institutional owners.

There are other names that you would recognize, like Vanguard, Fidelity, Bank of America Merrill Lynch, T Rowe Price, and State Farm.

The top 10 institutional owners own 18.5% of the company. So, if you have a 401k or own part of a mutual fund, you are a partial owner of Exxon.

So, as an owner, take personal responsibility to fix the problem.

Stop whining and realize that, while you whine about how much your 401k has lost in the last 5 years and yell and scream at your investor, you are also whining and complaining about how well one of your investments is doing.

Most of you are not only consumers, but you are business owners as well.

It is the same argument made by those who want to be able to buy cheap toys for their kids, and wonder why all the jobs go over to China.

Most people don't realize they are part of a system. Decisions as a consumer have an impact on you as a business owner and as a worker.

To summarize: Those people making big profits are you. Stop complaining to me or anyone else about you.

Aloha.