| re: Paying too much for petrol? | |
|
Posted by: |
John_Galt 05:24 pm UTC 06/18/08 |
| In reply to: | re: Paying too much for petrol? - Smeghead 12:38 pm UTC 06/18/08 |
| Smeg and Pud, A little over 40% of the value of Big Oil is held by U.S. pension funds or mutual funds. I wasn't able to find numbers on the ownership stake of international pension funds. See http://www.windfallprofitstax.org/report.html for a discussion of how reduction of Big Oil profits through taxation hurts retirees. I believe that Smeg was correct in his assertion that many people do not monitor the holdings of their pension funds. In the event that they reinvest income from funds in mutual funds, they still don't track the contents of those funds. In the United States, I'd insist that Smeg is correct, but it could be different in New Zealand, and I stand corrected regarding my stateside bias. -=John Galt=- > They probably wish they had... what with the record > profits they could retire quite well off. > > > Had you bothered to read fully what I'd written in my > > previous previous post you'd have seen that I wrote "If > > a pension scheme had a portfolio of shares through a > > managed fund and a small part of that was invested into an > > oil company then they might not know, but that isn't what > > was said." > > > > What was said by John Galt was "Regular people all over > > the world who have pensions who've invested in oil > > companies should be glad that they are doing well" > > > > I'm saying I know of no one who has invested their pension > > in just an oil company. > > > > > I would daresay it is anyone around the world. If you > > > have your money in a managed fund that changes constantly > > > why bother keeping up on where it is. That is why you > > > have it in a fund that someone else manages. > > > > > > > Perhaps it's an American thing then being cluesless as to > > > > where your money is invested. > > > > > > > > > You are quite mistaken. Every0one I know is invested in > > > > > pension funds and has no idea where the money goes. I > > > > > don't know where my money is invested (I hope it is in > > > > > porn) my wife doesn't know where her money is invested. > > > > > My friends, parents, co-workers... I don't think any of > > > > > them know.. > > > > > > > > > > > > > > Regular people all over the world who have pensions who've > > > > > > > > > invested in oil companies should be glad that they are > > > > > > > > > doing well. > > > > > > > > > > > > > > > > I know of no regular person anywhere who's pension is > > > > > > > > invested in an oil company. > > > > > > > > > > > > > > Most people have their moneies invested in funds and don't > > > > > > > even know those funds are invested in oil comapnies. > > > > > > > > > > > > I have an investment in a pension fund and I know exactly > > > > > > what percentage goes into what. I'm fairly certain that a > > > > > > regular person (anywhere in the world) would know if > > > > > > they've invested their pension into an oil company. If a > > > > > > pension scheme had a portfolio of shares through a managed > > > > > > fund and a small part of that was invested into an oil > > > > > > company then they might not know, but that isn't what was > > > > > > said. | |
| reply | | |
| Previous: | re: Paying too much for petrol? - Smeghead 12:38 pm UTC 06/18/08 |
| Next: | re: Paying too much for petrol? - JimmyG 05:28 pm UTC 06/17/08 |
| Thread: | |