How do you punish Big Oil?

GR02XR · 06-25-2008, 07:08 PM

By letting Mobil off the hook for $2 billion.

To date, they have not paid a cent of that $5 billion (cut in half by the courts to $2.5 billion) they were ordered to pay since ’89 and now they get it reduced to the equivalent of a few weeks of profit? They had been trying to get it eliminated all together so this may still not be over….and they still have a chance to get out of paying ANY punitive damages.

20cougar01 · 06-25-2008, 07:36 PM

i hate gas companies. all they are is greedy *****es

work_in_progress · 06-25-2008, 07:59 PM

As far as I know the gas companies are not really making a profit off of this since the oil itself is what's so freeking expensive. Even refineries are at a crunch. One I work at is apparently selling off some stuff and out of budget for projects around the plant itself. And if I'm right, this all started because some douche said something one day (real exact, I know) and then oil futures went up the next.

Sick what's happeneing tho. What the heck caused that court to halve their dues?

20cougar01 · 06-25-2008, 08:14 PM

13Billion in profits in the 1st quarter of 08 is profit if you ask me. And they had a Gas company Exec on tv and they asked him does he make 1 million a year he said yes, 2 milion/ year- yes, 3 million/year- yes, and when they asked does he make 4 million or more a year he said I CANT REMEMBER. that is some serious bull****!

NorCalCoug · 06-25-2008, 11:13 PM

He's talking about this:

Connelly: Exxon's slap on the wrist

Basically, the Exxon Valdez accident that caused billions in damages and killed tons of wildlife and ruined coastal seashore in Alaska, they appealed the fine and were awarded the appeal.

skater · 06-26-2008, 07:24 AM

For the record, they appealed the PUNITIVE damages. They've still paid the actual damages, which have totaled in the billions.

The bigger issue is the precedent the Supreme Court may have set by limiting the punitive damages in the way they did.

MOMO · 06-26-2008, 07:51 AM

[quote=work_in_progress;1489765]As far as I know the gas companies are not really making a profit off of this since the oil itself is what's so freeking expensive. QUOTE]

Wait... who do you think owns the oil?

carajo · 06-26-2008, 05:29 PM

They make their money selling stuff like Mobil1 at a huge markup.

Everybody in here using the cheapest motor oil they can find? Come on, let's have a show of hands...

***** all you want, but you contribute more there than at the gas pump.

jonnycat · 06-26-2008, 06:31 PM

Punish big Oil

Only if you can create an alternative, and resist the greed to sell it to them.

Blackcoog · 06-27-2008, 01:37 PM

Quote:

Originally Posted by carajo

They make their money selling stuff like Mobil1 at a huge markup.

Everybody in here using the cheapest motor oil they can find? Come on, let's have a show of hands...

***** all you want, but you contribute more there than at the gas pump.

I use the cheapest oil I can find when I break in new motors. I've actually been fairly impressed with Walmarts supertech products.

06-25-2008, 07:08 PM	#1 (permalink)
GR02XR NECO Member Join Date: Nov 2007 Location: Somewhere between here and there Posts: 207	How do you punish Big Oil? By letting Mobil off the hook for $2 billion. To date, they have not paid a cent of that $5 billion (cut in half by the courts to $2.5 billion) they were ordered to pay since ’89 and now they get it reduced to the equivalent of a few weeks of profit? They had been trying to get it eliminated all together so this may still not be over….and they still have a chance to get out of paying ANY punitive damages. __________________ There are TWO sides to every issue...and somewhere in between is the TRUTH

06-25-2008, 07:36 PM	#2 (permalink)
20cougar01 NECO Member Join Date: Oct 2005 Location: VA Posts: 262	Re: How do you punish Big Oil? i hate gas companies. all they are is greedy *****es __________________ 01 Dark Shadow Grey Ford Cougar w/ Flowmaster, taillight covers, smoked sides, For Sale: Z3 Fenders, Full Body Kit, 18" Gunmetal Motegi MR3s http://www.cardomain.com/ride/578111

06-25-2008, 07:59 PM	#3 (permalink)
work_in_progress NECO Member Join Date: Dec 2006 Location: Hyde Park, NY Posts: 223	Re: How do you punish Big Oil? As far as I know the gas companies are not really making a profit off of this since the oil itself is what's so freeking expensive. Even refineries are at a crunch. One I work at is apparently selling off some stuff and out of budget for projects around the plant itself. And if I'm right, this all started because some douche said something one day (real exact, I know) and then oil futures went up the next. Sick what's happeneing tho. What the heck caused that court to halve their dues? __________________ ~Josh~ #1 Fix Or Repair Daily #2Found On Roadside Dead 99 Vibrant White MTX Steeda short throw, strutbar, Weapon-R Intake, Dual Trubendz w/ Borla muffler.

06-25-2008, 08:14 PM	#4 (permalink)
20cougar01 NECO Member Join Date: Oct 2005 Location: VA Posts: 262	Re: How do you punish Big Oil? 13Billion in profits in the 1st quarter of 08 is profit if you ask me. And they had a Gas company Exec on tv and they asked him does he make 1 million a year he said yes, 2 milion/ year- yes, 3 million/year- yes, and when they asked does he make 4 million or more a year he said I CANT REMEMBER. that is some serious bull****! __________________ 01 Dark Shadow Grey Ford Cougar w/ Flowmaster, taillight covers, smoked sides, For Sale: Z3 Fenders, Full Body Kit, 18" Gunmetal Motegi MR3s http://www.cardomain.com/ride/578111

06-25-2008, 11:13 PM	#5 (permalink)
NorCalCoug El Mucho Post Whoro Join Date: Nov 2001 Location: SF Bay Area Posts: 13,898	Re: How do you punish Big Oil? He's talking about this: Connelly: Exxon's slap on the wrist Basically, the Exxon Valdez accident that caused billions in damages and killed tons of wildlife and ruined coastal seashore in Alaska, they appealed the fine and were awarded the appeal.

06-26-2008, 07:24 AM	#6 (permalink)
skater Capital Curmudgeon Join Date: Aug 2003 Location: Bowie, MD Posts: 6,288 Images: 3 Blog Entries: 1	Re: How do you punish Big Oil? For the record, they appealed the PUNITIVE damages. They've still paid the actual damages, which have totaled in the billions. The bigger issue is the precedent the Supreme Court may have set by limiting the punitive damages in the way they did. __________________ 1999 Cougar, Laser Red, 2.5L V6, MTX / 2004 Impala, Superior Blue, 3.4L V6, ATX / 1991 Airstream B190 7.5L V8

06-26-2008, 07:51 AM	#7 (permalink)
MOMO She purrs ;) Join Date: Dec 2005 Location: Rovinj, Croatia Posts: 4,438	Re: How do you punish Big Oil? [quote=work_in_progress;1489765]As far as I know the gas companies are not really making a profit off of this since the oil itself is what's so freeking expensive. QUOTE] Wait... who do you think owns the oil? __________________ *Phase two complete... phase three commences...* http://tuning-istra.com/forum/garage...ad52235c8b961b

06-26-2008, 05:29 PM	#8 (permalink)
carajo NECO Member Join Date: Dec 2001 Location: Schenectady, NY Posts: 3,549 Images: 18	Re: How do you punish Big Oil? They make their money selling stuff like Mobil1 at a huge markup. Everybody in here using the cheapest motor oil they can find? Come on, let's have a show of hands... *** all you want, but you contribute more there than at the gas pump. __________________ 3.0 L ~ MTX** They're going to pile their bodies over there!!!

06-26-2008, 06:31 PM	#9 (permalink)
jonnycat NECO Member Join Date: May 2001 Location: Lethbridge Posts: 1,732	Re: How do you punish Big Oil? Punish big Oil Only if you can create an alternative, and resist the greed to sell it to them. __________________ I am a Petrolsexual.

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