Why are oil company profits not considered war profiteering?

We are at war, based on lies or not there is a war.

The war has been blamed in part for the high price of oil.

Oil companies are making record profits during a time of war.

Why are they not under indictment for war profiteering? :shrug:

It's the reason Bush was installed in the first place: to correct a downturn in oil prices.

Mission accomplished!

This is a war for oil. Always has been. Always will be.

but for the Bush-Laden oil cartel. By suppressing one of their biggest competitors, he boosts prices.

that is certainly how I feel about the whole situation.

the American "government".

Only when The People have the courage to take back their rightful power over democracy will corporate fascism cease.

along with the military industrial complex and 90% of the bush administration

This money making scam is a big cause of the skyrocketing oil prices....speculation gone wild.

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=389&topic_id=3324804&mesg_id=3324804

to keep the tanks, trucks, cars and planes running in the war. War profiteering is an understatement.

And we should take back all of their record profits, as well as the other war profiteers.
Liquidate KBR and put their money back in the US treasury.

harry Truman would have been on halliburton and they would have been reigned in. this white house is pure bullshit.

Republicans especially but many other Americans believe firmly that war is good for business. That is the main reason we are supposedly at "war". Republicans wanted so very badly to show up Clinton who had under his watch the "Greatest Economic Expansion in History". Remember Democrats are not supposed to be good at running the economy. They believed with all their heart that a war would really get the country humming when in reality the exact opposite happened..They really do not understand economics or America either. Americans like Peace and Prosperity and do not like War or War supporters...

Trillions of dollars are traded in oil and oil futures every day. Oil companies are price takers in this market. THEY DO NOT SET THE PRICE OF OIL. Their profit margins are no higher than most other big multi-national companies.

Where is the profiteering? Please provide a evidence that they are:

1) Price fixing
2) Making exorbitant profit margins (not just profits)
3) Directly involved in profiteering from the government in the time of war

I doubt you'll be able to.

1. Where I live, every station in town sells gas for the exact same price. They all go up at the same time. That's price fixing.

2. Oil company profits have quadrupled in recent history, yet oil consumption has not. If they are just passing along the costs to consumers, their profits should remain more or less the same. If you don't think their profits are exorbitant, you really are out in space. What other industries are making these kinds of profits? None that I see.

3. The super secret Energy Policy, written with the help of oil executives, indicates collusion on their part to drive up the price of oil. And they continue to make record profits during a time of war, and when many Americans are having a difficult time purchasing gas to go to work.

You must work for an oil company to be so out of touch. :eyes:

You're focused in on total profits, but should be looking at profit MARGIN. Let's look at Exxon:

2000 (prior to war): Revenue: $232.7B, Net Income 17.7B, Profit margin: 7.6%
2007: Revenue $404.5B, Net Income $40.6B, Profit margin: 10%

Profit margin increased by 2.4%. HOW IS THIS EXORBITANT?

For comparison, let's look at Aaple compter (AAPL)
2007: Revenue $24B, Net Income $3.5B, Profit margin 15%

Aapl's profit margin is 5% higher than Exxon's.

WHAT IS AN "ACCEPTABLE" PROFIT MARGIN FOR YOU? Why do you express such "outrage" about oil companies, yet ignore the fact that many other companies have much higher profit margins? :eyes:

There are millions of shareholders of oil companies that benefit from these profits.

you make it clear they're all gouging! :)

:shrug:

:sarcasm: :sarcasm: :sarcasm: