It's very close to that mark, as it closed at 83.51 on Friday. Never completely understood why investors like stock splits so much, other than the fact they get to own more shares. From a financial standpoint, it makes little difference.
I have a couple interesting questions. We may be the 3rd largest producer of oil but does that mean it all comes from our country or an American company drilling in another? I could've sworn someone said Iran imports all their oil? Yes but what I don't care about is big government and over regulation including the politics involved. Not I but I prefer a market economy versus a government controlled one. They also complain about gas prices while they have contributed to the problem of today. Been there done that! The current administration is doing very little of anything can you say border security, Bush said we would have better security but I didn't realize he was only talking about airlines. What do you expect both Iraq and American borders are wide open. Bush and the dem congress want that Hispanic vote legalized. Those statistics can't be right in reality. If I know our government they rob funds from one program to another. Social Security, gas tax, etc. I have provided links in this thread that show gas tax being used for other things besides fixing roads. Do you have a problem with that? This is directed in response of Fanatics post also. I don't doubt that this is true but I believe that their are other factors involved as well such as China becoming a super power economy for lack of a better term off the top of my head, use of oil and gas in China. The gas tax along with the different grades of gas used in different states plays a role. People complain about evil oil companies and evil pharmaceutical companies all the time. Do they prefer a government controlled economy over a free market one? All I was saying that evil oil companies aren't the only reason gas prices are high, the government is robbing people by taxes and most people don't even realize it!
Because it makes the stock more affordable and brings in new buyers that wouldn't have bought at the higher price. I've had ExxonMobil stock for many many years and believe me splits are a good thing.
Yes, it all comes from drilling in the the U.S. We do have some mulitnational oil companies like BP drilling in the U.S., but most comes from American oil companies. This may help ... EIA Iran does not import oil, but they don't have refineries to produce gasoline. They import their gas. Americans are struggling with this concept of globalization. Once upon a time, it was all about the U.S. and what happened around the world had little impact on us. Those days are long gone. While our demand for oil and gas continues to grow, it's not anywhere near the growth rate of China and India. Those two countries have over 2 billion people compared to our 300 million. As they continue to develop, their demand for oil will only skyrocket. That is a major factor with high oil prices today. It's a complicated subject with no easy answers.
Oh, I understand that part. But stock splits don't change the valuation of the stock, it just changes the psyche of the investor. I do the same thing. I will buy 100 shares at $40 before buying 10 at $400. But financially speaking, it makes little sense. I keep waiting for google to do a 10 for 1 split so I can buy at $50.:hihi:
Nowhere in that lecture is your answer to my question. How foolish of you to try to tell me what I think. Especially with ridiculous statements that I'm anti-environment and stand in the way of oil alternatives. I asked what Sourdough thinks about the environment. You have Big Government on the brain. It prevents you from perceiving anything else. You chant it over and over like a mantra. It's your cure for all ills. Like snake oil.
Are you a billionaire? If not, I'm not talking about you. If you're middle class, you benefit if the super-wealthy have to pay taxes on their main sources of income (dividends and capital gains). The middle class pays far higher taxes on their wages. Why do you think the billionaires should get most of the tax breaks?
