The Oil price is soaring high.
The Oil Companies earn high profit. But the many people in the world suffer.
Actually oil and gas in the world is belong to all. Not just a few people who own the oil companies.
So, all government in the world should nationalize the oil companies. This way, the government could sell oil with reasonable price, and the profit is enjoyed by all the people. 3 top oil companies earn more than US$ 600 billion. So imagine if we give all the oil and other natural resources such as gold and copper to the people.
King Faisal in Saudi Arabia, Hugo Chavez in Venezuela, and Evo Morales in Bolivia have nationalized Private Oil Companies in their own countries. They get a lot of money from the oil and make their people prosper.
Chavez have to pay Exxon US$ 907 million for its asset. It's very cheap since the country could get US$ 36 billion every year for 1 million barrel oil production per day.
Has the US president such as Obama guts like Chavez and Morales to nationalize oil companies such as Exxon, Chevron, Conoco, etc. that owned by the Rockefellers?
Just look how the Oil Companies earn high profit over the higher oil price. They get billions of dollars profit and their executives get millions of dollars salary.
Exxon Profit Up 69 Percent as Gas and Oil Prices Boost Top Five Oil Companies
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By SUSANNA KIM (@skimm)
April 28, 2011
Exxon Mobil and Royal Dutch Shell today reported first-quarter profit increases of 69 percent and 30 percent, respectively, from the same period last year. With rising gas and oil prices, analysts expected the five biggest oil companies -- with Exxon as the largest -- to report that they are swimming in revenue.
Exxon earned $10.7 billion in the first quarter, up from $6.3 billion. Shell announced profit of $6.3 billion in the first quarter this year, up from $4.8 billion.
BP and ConocoPhillips announced their first quarter earnings Wednesday, in a week when the biggest oil companies have begun to release their 2011 profits. The "Big Five" oil companies include BP, Chevron, Conoco Phillips, Exxon Mobil and Shell.
ConocoPhillips said its first quarter earnings increased 43 percent to $3 billion from $2.1 billion in the same period last year. BP's first quarter earnings dipped this year -- $5.48 billion compared with $5.60 billion during the first quarter a year ago -- including a charge of $384 million related to the oil spill in the Gulf of Mexico.
Valero Energy, based in San Antonio, Texas, and the largest independent U.S. refiner, announced Tuesday a first quarter profit of $98 million "primarily due to higher margins for diesel and jet fuel," compared to a first quarter loss last year of $113 million.
Chevron, based in San Ramon, Calif., is slated to announce its earnings on Friday while Marathon Oil, based in Houston Texas, will announce its earnings Tuesday.
"Given what we saw with rising crude oil prices in the first quarter, we can expect to see rather large increases in oil company revenues," said Stephen Shorck, publisher of the Shorck Report, an industry newsletter for the energy markets.
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The price of light, sweet, crude oil futures settled Tuesday at $112.21 a barrel. Many analysts are waiting to see if oil prices will break the most recent high of Sept. 22, 2008, when oil settled at $120.92 a barrel.
But Shorck said motor gas receipts are decreasing at the pump, as drivers purchase less gas. Shorck said the decrease in driving could be a result of inclement weather, which is typical in the winter months, or drivers are beginning to alter their behavior.
The national average for regular gas is $3.88 a gallon, the highest since August 2008, according to the Department of Energy this week.
At a certain point, there is an inability for producers to pass along these higher costs to consumers, Shorck said.
"This will really come to roost in the second quarter for oil companies," Shorck said. "Sales will be higher, but net income will likely lag."
Whether the CEOs of the major companies receive a larger payout is yet to be seen. ExxonMobil's CEO Rex Tillerson has the spot of the highest paid energy executive for 2010, according to Equilar, an executive compensation data firm.
James Mulva of ConocoPhillips and John Watson of Chevron follow behind.
2010 CEO Compensation of Major Oil Companies, from Equilar
1. Rex Tillerson (Exxon Mobil): $21.5 million
2. James Mulva (ConocoPhillips): $17.9 million
3. John Watson (Chevron): $14.0 million
4. Peter Voser (Shell): $12.8 million
5. William Kleese (Valero Energy): $9.8 million
6. Clarence Cazalot (Marathon Oil): $8.8 million
7. Robert Dudley (BP): $6.8 million
The top three paid CEOs of U.S. oil companies are managing the second, third and sixth largest companies in Fortune's 2010 list of America's biggest companies.
2010 Revenue and Profits, Fortune's list of America's Largest Petroleum Refining Companies
2. Exxon Mobil, $284.7 billion; $19.3 billion
3. Chevron, $163.5 billion; $10.5 billion
6. ConocoPhillips, $139.5 billion; $4.9 billion
26. Valero Energy $70.0 billion; $-2.0 billion
41. Marathon Oil, $49.4 billion; $1.5 billion
http://abcnews.go.com/Business/exxon-shell-profits-bp-oil-companies-high-expectation/story?id=13472740#.T3PQKWFOiAh
Caracas, Venezuela, 1 May 2008. Today, the Bolivian government of Evo Morales Ayma formally nationalized four oil companies: Transredes (Shell), Andina (Rapsol), Chaco (BP) and CLHB (British Ashmore Energy). From now on they will be under the direct control of the National Bolivian Oil Company - Yacimientos Petrolíferos Fiscales Bolivianos (YPFB). The nationalization action was not duly agreed by three of the four oil companies.
Continue reading at NowPublic.com: Bolivia takes over four oil companies and one communication enterprise (updated) | NowPublic News Coverage
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