Big Oil bad, Apple good?
Selective outrage over corporate profits?
- Duration 8:06
- Date Mar 3, 2012
Selective outrage over corporate profits?
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We see these two companies will both are making money hand over -- but I want you to guess which one.
Which one is just getting the access.
Hi everybody glad to have him Neil Cavuto and -- on top of selective outrage.
Over what some call outrageous profits.
Because what gas prices hammering drivers.
It must be time to start hammering oil companies and make -- today for making money.
But heat this week -- Apple's market value.
-- soaring past 500.
Billion dollars so I'm missing something here.
Charles -- the Dallas disease and Emilia and and then I love her name is -- is -- lover or Charleston but what do you make of this.
It's it's it's in its selective outrage it's it's it's my maddening ExxonMobil last year paid 31 billion dollars in taxes apple made eight billion.
Tax rate according to present -- 24 present who has more American workers went out.
It's California makes more money -- Christian or not you are that was yeah I -- I'm not -- -- about it for so many years -- don't want I don't anticipate trillions.
Trillions of dollars in taxes this one billion dollars that the president keeps talking about is the liberal -- drop in the bucket by the way it.
It was designed for wildcat -- entrepreneur awards now be really want to be upset about ways let's go after all these wasteful clean energy initiatives that are a lot more of four billion dollars.
-- And you go from the attack into the southern that are not getting any better way to go down on the island I don't -- -- that -- -- -- -- -- -- start picking winners and -- -- -- -- -- nothing about -- -- -- about two entirely -- profit.
Margins here and now he's gonna decide who's gonna pick up the weight whatever we can't figure out how we're gonna apparently it's happening in the -- -- He was cool -- you need to fix this initiative now he's picking we seem to need them he picks in business he picks wrong.
He's so off the mark is so wrong.
Well what I gonna become untenable to have figured if I didn't make money is a problem and apparently it is and that's on politically that he's not gonna pick on apple -- -- we like our we'd like our ipads and this is about politics.
-- -- -- -- deviated -- the number does stadium's seats and and and Steve Jobs with a was up and and she's an amazing woman he was an -- got.
He's -- you know companies that outsource in the air CA is representing the company that.
Canada and any and that's findings do not really want to know I got to look at him instead the jobs in China where we make our product they are coming back here.
And they still don't pick on apple but what I'm saying if they're not -- tore it's it's ridiculous and it's unfair but they're not gonna go after companies that make products we like like it or not Americans think we have a -- -- -- gas.
The mark is so small meal and we thank the dozen just think this nation thanks we have grown I have to admit they're okay but those markets -- not what I mean not like not like they once were and not -- when we have to go back -- -- to restart this industry have crippled them.
We haven't done it -- to go back where that happened out -- You know I didn't dig up -- I was mentioning apple that I'm pretending to be an expert on apple and we have the definitive expert -- since he's written this great.
Does his best seller.
But I play an expert on TV -- and as you know.
And admire it wrapped is that -- you heard about these guys enough I -- think they've there's a whole different start treatment of them in the amount of money then make an oil companies and -- -- -- and what's that you.
Well first of all day in the -- is on the money when she says this is about politics and so we shouldn't be shocked shocked that the president's picking on the oil companies but.
We can go little -- -- that.
Oil and gas is seen as being -- non discretionary item for American consumers they passed to have.
Gas to to get to work to go to church -- -- to go to the baseball game they don't have to have an iPod or an iPhone.
And I think the man I don't know him that my daughter but but go ahead and I can't see -- -- really good sleep.
You know again and again to get to work or -- that iPod I don't know I think she's -- -- -- -- is just he would walk she would walk to the Apple Store to get her iPhone and -- -- -- that you had to do that.
But it and and -- -- ahead on this two Americans admire the entrepreneur or realism of apple.
They still admire -- -- for -- realism of the oil companies right or wrong.
I don't think for the president by the way that this is about making money you know oil companies are bad.
Because they make a lot of money they're bad because they're bad.
On Monday I love it -- -- -- -- dearly but I did -- the administration and as -- with those in the money I really do I I I think there's a great -- Is sort of inherent.
Believe that it's through ill gotten gains and I and it.
No I think him and I.
Don't know that in a lot of public technology companies and the exact right to give the Democratic Party a lot a little they'll go oh yeah.
Read about the get a lot of -- in and a lot of 30000 dollar played better as the Silicon Valley but this is the only thing -- dislike more than making money fossil fuels.
You know in the president's perfect world he hates fossil fuels even -- -- means we pay five or six dollars a gallon.
And you know that's tricky thing possible on a little -- accidents -- Meditation of the dinosaur -- That's an old technology and -- all going to -- no I think older solar and wind OK but who you know the bottom line there is.
This is bring appointing this is sort of -- saying listen I'm not to blame -- oil companies are to blame this is pure failure did atoms that is politics it's more of politics this is this is disingenuous in this and we always.
-- after the little companies out there -- an -- but Bud Adams at that point I needle a look at this.
And you have -- -- -- even a -- oil companies a lot of people do because they do and recently made money hand over disks so I can remember as a -- reporters starting -- early eighties.
When they were losing money and and the prices tumbling and they work that led to a lot of the mergers we've seen oil companies that was then this is now so I know we'd have -- nothing against him now.
Has -- gone too far -- other words do we overdo it does Washington deliberately deflect our attention.
Willis priced in dollars those dollars have been tumbling that is what's meaning more dollars to buy -- -- which means it's become more pricey.
Not so much because of anything Machiavelli -- RO Oliver Stone it's.
The fact of the matter is it is our own -- -- so incompetence in Washington.
That has whacked our dollar whacked our prestige around the world and whacked us at the pump.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- I blame us I mean we are the people who as you said we will ghost that spend a lot of money on an iPhone which is a really expensive thing.
Will go to a baseball game and by you know the tickets and hot dogs and pizza for -- lot of money.
But we complain about four dollar a gallon gasoline that's what it costs it costs more in other places around the world so.
I waited and then my frustrations -- that undo it well all right then to hear what you just said the administration's bemoaning that.
So so it merely to take Adam -- -- word here we we we -- pretty low levels went bad -- but the administration more or less saying.
That is the problem all right but -- the problem.
That's the problem right absent only because who will want to put in the rules and regulations is the one who basically handcuffed and says oh you -- look at but he can't drill.
Maybe can't really get me what we're saying is -- this is what we need to do in order to be able keep up the twenty.
Twenty -- gallons of -- I mean the twenty barrels we actually use this is what we need and it'll all but we're not gonna help you do that we're gonna give our business somewhere else all the way across the world.
So we're going to India and there should be an oil out for that big mania what came here I'm a second now.
We're working on -- any -- -- it again it is the it is the government trying to control.
Business when they don't understand the first fundamentals of the bottom line is it up the points and blame anyone but they should be -- of one of the blame the food companies that to the point when they'd price they do a lot -- they're drag him out and why.
Are they going I don't know it mean I don't -- Anyway is all about -- this has been one of the few -- that's worked for the president although -- less and less every day.
I don't -- thrown registers will save you could be --