Is there anything wrong with oil companies?

The more i think about it the more i don't think there is.

Update:

great job james33- you allmost got the points.

8 Answers

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  • 1 decade ago
    Favorite Answer

    Oil companies are the same as any other company... actually we should love oil companies... afterall they do a lot for us, for cheap!

    To quote my favorite television journalist, John Stossel:

    ...[consider] what it takes to get gas here: It’s got to be dug out of the ground from 5 miles beneath the earth (the drills even bend to get to it) and then it gets shipped across an ocean, refined into three types of gasoline, put in trucks that cost $100,000 each, shipped to stations that have all this expensive equipment so you don’t blow yourself up and it still costs less than the bottled water they sell at these gas stations.[1]

    nostradamus02012 -

    Monopoly? Do you even know what a monopoly is? Here ya go... from dictionary.com:

    mo·nop·o·ly /məˈnɒpəli/ Pronunciation Key - Show Spelled Pronunciation[muh-nop-uh-lee] Pronunciation Key - Show IPA Pronunciation

    –noun, plural -lies. 1. exclusive control of a commodity or service in a particular market, or a control that makes possible the manipulation of prices. Compare duopoly, oligopoly.

    2. an exclusive privilege to carry on a business, traffic, or service, granted by a government.

    3. the exclusive possession or control of something.

    4. something that is the subject of such control, as a commodity or service.

    5. a company or group that has such control.

    6. the market condition that exists when there is only one seller.

    7. (initial capital letter) a board game in which a player attempts to gain a monopoly of real estate by advancing around the board and purchasing property, acquiring capital by collecting rent from other players whose pieces land on that property [2]

    There you go, a monopoly is "exclusive" control over a comodity or service... well, is the oil industry a monopoly... lets look at how many companies are in the oil industry:

    Abu Dhabi National Oil Company, United Arab Emirates

    Addax Petroleum, Switzerland

    Alon USA, United States

    Amerada Hess Corporation, United States

    Anadarko Petroleum Corporation, United States

    Arbusto Energy, United States

    Atlantic Petroleum, Faroe Islands

    BG Group, United Kingdom

    Bharat Petroleum Corporation Limited, India

    BHP Billiton, Australia

    BP, United Kingdom

    Cairn Energy, India

    Canadian Natural Resources, Canada

    Charottar Gas Sahkari Mandli., India

    Chevron Corporation, United States

    Citgo, Venezuela

    CNOOC Ltd., China

    ConocoPhillips, United States

    Crown Central Petroleum, United States

    Cupet, Cuba

    Devon Energy, United States

    Ecopetrol, Colombia

    Emarat, UAE

    Emarat Misr, Egypt

    Enbridge, Canada

    EnCana, Canada

    ENSCO International, United States

    Elinoil Hellenic Petroleum Company S.A., Greece

    Eni, Italy

    Essar Oil, India

    ExxonMobil, United States

    Faroe Petroleum, Faroe Islands

    Galp Energia, Portugal

    Gujarat Oleo Chem Ltd., India

    Geo Global Resources., India

    Petronet LNG Limited, India

    Gujarat Gas Co. Ltd., India

    Gujarat State Petroleum Corporation, India

    Gulf Oil, United States

    Grupa LOTOS, Poland

    Hellenic Petroleum, Greece

    HOECL, India

    Hess Oil Company, USA

    Husky Energy, Canada

    Imperial Oil, Canada

    INA (Industrija Nafte), Croatia

    Indian Oil Corporation, India

    Insight Energy Corp, United States

    Irving Oil, Canada

    Jubiliant Empro, India

    JHON ENERGY, India

    Kerr-McGee, United States

    Koch Industries, United States

    Kuwait German Petroleum Company, Canada

    The Louisiana Land & Exploration Company, United States

    LUKoil, Russia

    Marathon Oil Corporation, United States

    Maxol Group, Republic of Ireland

    Mol Group, Hungary

    Naftna Industrija Srbije, Serbia

    National Oil Corporation, Libya

    Neste Oil, Finland

    Norsk Hydro, Norway

    North Atlantic Petroleum, Canada

    Northern Territory Oil Limited, Australia

    NNPC,Nigeria

    Occidental Petroleum

    Oil & Gas Petroleum Corporation, United States

    Oil India Limited, India

    OMV, Austria

    ONGC, India

    PKN Orlen S.A., Poland

    PSO, Pakistan

    Petróleos de Venezuela, Venezuela

    Petroleos Mexicanos, Mexico

    Petro-Canada, Canada

    Petro Peru, Peru

    Petrobras, Brazil

    PetroChina, China

    Petroconpak, Pakistan

    PetroKazakhstan, Canada

    Petron Corporation, Philippines

    PETRONAS, Malaysia

    Petrotrin, Trinidad and Tobago

    Pertamina, Indonesia

    Piyush Petroleum Co. Ltd, India

    Pogo Producing, United States

    Prize Petroleum CO.LTD., India

    Qatar Petroleum, Qatar

    Reliance Industries Limited, India

    Repsol YPF, Spain

    Rompetrol Group N.V., Romania

    Royal Dutch Shell, Netherlands, United Kingdom

    Santos Limited, Australia

    Sasol, South Africa

    Saudi Aramco, Saudi Arabia (the largest in the world)

    Shell Canada, Canada (subsidiary of Royal Dutch Shell)

    Shell Oil Company, United States (subsidiary of Royal Dutch Shell)

    Sinclair Oil, United States

    Sinopec, China

    Sonangol, Angola

    Sonatrach, Algeria

    SPC, Singapore

    Statoil, Norway

    Stuart Petroleum Limited, Australia

    Sunoco, United States

    Suncor Energy, Canada

    Surgutneftegaz, Russia

    Syncrude, Canada

    Talisman Energy, Canada

    Teikoku Oil, Japan

    Todd Energy, New Zealand

    Total, France

    Turkish Petroleum Corporation, Turkey

    Turkish Petroleum International Company Limited, Turkey

    Tüpraş, Turkey

    United Petroleum, Australia

    Vaalco Energy Inc., United States

    Van Doren Oil, United States

    Woodside Petroleum, Australia

    YPFB, Bolivia

    YUKOS, Russia [3]

    Doesn't look like there is any monopoly to me...

  • 1 decade ago

    The question you should've asked is "Is there anything RIGHT with Oil Companies?" The answer is NO, there's nothing they do right. They rape the earth and reap the profits. They pollute the air we breath and the water we drink. Then they export their oil that's found right here in the US to other countries and import oil from other countries into the US. Now, in the case of Alaska, I can understand exporting oil since Asia would have closer ports, but oil from anywhere else in the US should stay here. Why are we trading oil? Why are we subsidizing huge corporations with Corporate Welfare, INCLUDING Oil Companies?!!? 92 BILLION in 2006 alone. Why are we not trying to find renewable clean energy sources to protect the environment and break our dependence on foreign oil? And as Nostradamus (the poster above, not the prophet) said, they're a monopoly. How many Oil Companies are there? TEN? Twelve tops? Is that really "competition?" Hardly. And drilling for more oil here only ensures that oil will be sent to other countries, that the Oil Companies will pollute MORE, the Oil Companies will make MORE Money and the price of gas will stay the SAME! And we will still be using a DIRTY, non-renewable energy source.

  • Anonymous
    1 decade ago

    Monopoly? There are dozens of oil companies and a number of big ones. They had 15+ yrs of bad times and now make a 5% profit while the government makes a killing in taxation and regulation. If we drill more here at home, including in shale rock, and build new refineries we could see oil prices drop significantly but the left will not allow that to happen. Of ourse we could rely more on nuclear power like the Europeans- it is safe and efficient.

  • Anonymous
    5 years ago

    The short answer is No. Two years ago, we traded in a perfectly satisfactory Ford for a hybrid -- which gets double the gas mileage. It wasn't paying for itself at the time, but every day it is looking like a smart move.

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  • 1 decade ago

    When people accept being subordinated to the whims of corporations, that's sad.

    When people actually defend a vile and self-serving industry, when many of them are victims of this same industry ... that truly enters into the realm of the surreal.

    Those under 35 who think the oil and energy industries are so nice and sweet ... you'll get what you deserve in the decades ahead. See you in about twenty years.

  • 1 decade ago

    We ship oil from the middle east into the U.S.because it is the best grade in the world.Its the only oil jet fuel can be made from.

  • 1 decade ago

    I could not read this question and not laugh out loud. Almost peed myself a little.

  • 1 decade ago

    one word:

    monopoly.

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