Was what m.moore said true? (oil shareholders)

blondieblue227
blondieblue227 Va, USA Posts: 4,509
edited September 2008 in A Moving Train
The percentage of what oil shareholders own has increased over the years.

….on Larry King Friday night.

If this is true, why didn’t anybody stop the increase?
Why is it even legal to own stock in oil?

Yes, I’m young and naive. lol
*~Pearl Jam will be blasted from speakers until morale improves~*

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Comments

  • digster
    digster Posts: 1,293
    according to this editorial, where he cites a report done by a non-profit...yes, by quite alot. I only plugged oil shareholders into a search engine, so I'd have to do a bit deeper digging than that, but it doesn't seem that surprising.

    http://www.boston.com/bostonglobe/editorial_opinion/oped/articles/2008/07/02/the_costs_of_waiting_for_big_oil_to_do_the_right_thing/
  • Dirtie_Frank
    Dirtie_Frank Posts: 1,348
    Let's not forget that Oil shares are also in a lot of our 401K funds. If you look at what makes up the different funds you would see that energy is part of a lot of funds.
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  • tybird
    tybird Posts: 17,388
    Dirtie_Frank wrote:
    Let's not forget that Oil shares are also in a lot of our 401K funds. If you look at what makes up the different funds you would see that energy is part of a lot of funds.
    Sounds like a great masters thesis or PHD topic.....how many of us are really part of Big Oil in this indirect manner?
    All the world will be your enemy, Prince with a thousand enemies, and whenever they catch you, they will kill you. But first they must catch you, digger, listener, runner, prince with the swift warning. Be cunning and full of tricks and your people shall never be destroyed.
  • blondieblue227
    blondieblue227 Va, USA Posts: 4,509
    Why hasn’t been regulated you think? -the amount people can own.

    Is it a matter of whistle blowing? I’m guessing, no. From what I see here a lot of people understand what’s going on.
    *~Pearl Jam will be blasted from speakers until morale improves~*

  • LikeAnOpeningBandForTheSun
    LikeAnOpeningBandForTheSun Posts: 6,097
    should have bought into oil then. its quite profitable i hear.
  • Kel Varnsen
    Kel Varnsen Posts: 1,952
    I am not sure I understand the problem. Yes people own shares in oil companies and when the profits of those companies go up (which they have been) then the companies increase their dividends. No different then any other publicly traded company.

    I have oil company stocks in my retirement funds. Right now some of them are the only ones keeping me from losing a ton of money, because the financial sector stocks are just tanking.
  • blondieblue227
    blondieblue227 Va, USA Posts: 4,509
    Kel – it’s conflict of interest in my opinion.

    People complain about high gas prices.
    But yet congress hikes up the percentage of what they(congress themselves) own.
    So if prices rise they’ll do nothing about it because they’re making money.

    They’re not helping the people that elected them.
    Too busy making money.

    I don’t know about you, but that seems pretty corrupt to me.
    *~Pearl Jam will be blasted from speakers until morale improves~*

  • Kel Varnsen
    Kel Varnsen Posts: 1,952
    blondieblue227 wrote:
    Kel – it’s conflict of interest in my opinion.

    People complain about high gas prices.
    But yet congress hikes up the percentage of what they(congress themselves) own.
    So if prices rise they’ll do nothing about it because they’re making money.

    They’re not helping the people that elected them.
    Too busy making money.

    I don’t know about you, but that seems pretty corrupt to me.


    But anyone can buy stock in oil companies. And as far as politicians owning oil company stock, how is that different than them owning stock in any other company (ie banks, food companies, car companies etc)? Plus oil companies making money benefits a lot of people, from the stock holders, to the employees to the people who benefit from the shit load of taxes oil companies pay, so in a way it is good for a lot of people if they make a lot of money.

    Plus correct me if I am wrong but don't most politicians disclose their tax returns and stuff like that during an election. If a politician says he owns a bunch of oil company stock and people still elect him, then they have no one to blame but themselves.
  • LikeAnOpeningBandForTheSun
    LikeAnOpeningBandForTheSun Posts: 6,097
    its publically traded stock. anyone can own it.
  • blondieblue227
    blondieblue227 Va, USA Posts: 4,509
    Kel Varnsen wrote:

    Plus correct me if I am wrong but don't most politicians disclose their tax returns and stuff like that during an election. If a politician says he owns a bunch of oil company stock and people still elect him, then they have no one to blame but themselves.

    exactly.
    i've said before here i don't why people vote for the person for their hand in the cookie jar.

    yes, i knew it would end like that. but still i wanted to post.
    the world runs on money.
    profit, profit, profit.

    MrSmith wrote:
    its publically traded stock. anyone can own it.

    i don't think it should be.
    same with healthcare.

    but like i said, i’m young and naive. ;)
    *~Pearl Jam will be blasted from speakers until morale improves~*

  • Kel Varnsen
    Kel Varnsen Posts: 1,952
    blondieblue227 wrote:
    i don't think it should be.
    same with healthcare.

    but like i said, i’m young and naive. ;)

    But the big difference is that if you can't get health care you will die. If you can't get gasoline there are other options, just like there are if you want to buy GE lightbulbs, Pepsi Cola or go to Disneyworld for vacation.
  • SpreadtheJAM
    SpreadtheJAM Posts: 344
    Stock market has been around alot longer than oil
    BORGATA>VIC
  • MonsterOfTheMidway
    MonsterOfTheMidway Posts: 416
    SpreadtheJAM wrote:
    Stock market has been around alot longer than oil



    I'm pretty sure oil has been on earth for millions of years.
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  • LikeAnOpeningBandForTheSun
    LikeAnOpeningBandForTheSun Posts: 6,097
    MonsterOfTheMidway wrote:
    I'm pretty sure oil has been on earth for millions of years.
    oh snap!
  • blondieblue227
    blondieblue227 Va, USA Posts: 4,509
    Lol! wish that witty retort was mine.

    Who raised the percentage of what shareowners own?
    Or did that just happen on it’s own?

    Yes, it’s legal for people to own stock.
    That’s not what I’m trying to get at.
    *~Pearl Jam will be blasted from speakers until morale improves~*

  • SpreadtheJAM
    SpreadtheJAM Posts: 344
    MonsterOfTheMidway wrote:
    I'm pretty sure oil has been on earth for millions of years.

    Got me on that one, what are you doing in this neck of the woods anyways?
    BORGATA>VIC
  • blondieblue227
    blondieblue227 Va, USA Posts: 4,509
    :)
    hehehe
    they both own oil stock. wonder who owns more?

    http://www.usatoday.com/news/politics/election2008/2008-06-02-investments_N.htm
    *~Pearl Jam will be blasted from speakers until morale improves~*

  • even flow?
    even flow? Posts: 8,066
    blondieblue227 wrote:
    The percentage of what oil shareholders own has increased over the years.

    ….on Larry King Friday night.

    If this is true, why didn’t anybody stop the increase?
    Why is it even legal to own stock in oil?

    Yes, I’m young and naive. lol


    You own stock in oil and hope that they don't actually deliver the barrels to your residence. It is the speculation that is the corrupt part of it all. Don't think spec is bad just check out the Yankee housing market and they keep getting bailed out to lend another million suckers money for a house they can't afford.
    You've changed your place in this world!
  • Kel Varnsen
    Kel Varnsen Posts: 1,952
    blondieblue227 wrote:
    :)
    hehehe
    they both own oil stock. wonder who owns more?

    http://www.usatoday.com/news/politics/election2008/2008-06-02-investments_N.htm


    So do you think they should not be allowed to own stock in any companies or just oil companies?
  • blondieblue227
    blondieblue227 Va, USA Posts: 4,509
    Kel Varnsen wrote:
    So do you think they should not be allowed to own stock in any companies or just oil companies?

    read post #16
    i said that wasn't my problem with it. :rolleyes:
    *~Pearl Jam will be blasted from speakers until morale improves~*

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