Should The Oil Companies Be Punished For Making Obscene Amounts Of Money?

Its become very popular for people to critise companies for making a profit. Stacy at the Birds and Bills has a post on Socially Conscious Investing.She’s proudly willing to sacrifice her retirement so long as Oil companies don’t make too much money.

Please snatch money from my retirement plan. I have no idea what stocks are in the mutual-fund mix in my 401k, but personally, I’m perfectly ok with taking a hit there in return for tighter controls on the petroleum companies that are currently reporting annual profits surpassing the GDPs of most developing nations.

Why are people upset that Exxon is making a profit?

When the demand for oil has been the highest in human history, don’t you think the companies providing it should be making more money than ever before? This is their golden period. If they weren’t reporting record profits and distributing dividends[which incidentally get taxed twice anyway], it would mean they’re clearly mis-managed and the Execs needed to get fired. They’re making money because supply is limited and global demand keeps on increasing. Because people are unwilling to stop driving their 9-mpg hummers to pick-up they’re 2 year from day care. Not because they’re scamming poor people or doing anything illegal!

Why are a lot of people so anti-business? Would we rather have the Oil companies report lousy returns like the car companies? Would we prefer they lay people off and ruin local economies like Houston? Isn’t that like being unAmerican?

I think that America has become greatly anti-business in the past 2-3 years. If the trend continues we’ll be just like most of Europe and we’ll no longer be amongst the best places on earth to start a business and become wealthy!

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