The largest profit in US history
Certified Goat Breeder
Joined: Feb 1999
Posts: 6,182
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From: the moral high ground
Tell hell with $3-$3.50, I want to go to $12. 
US oil companies will set records that will never be broken and we will all be part of history in the making.
Take that Walmart!
US oil companies will set records that will never be broken and we will all be part of history in the making.
Take that Walmart!
Senior Member
Joined: Apr 2004
Posts: 4,424
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From: Motor City
Originally Posted by Raoul
Tell hell with $3-$3.50, I want to go to $12.
US oil companies will set records that will never be broken and we will all be part of history in the making.
Take that Walmart!
US oil companies will set records that will never be broken and we will all be part of history in the making.
Take that Walmart!
I'm buying Exxon stock...
Senior Member
Joined: Oct 2006
Posts: 182
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Originally Posted by CrAz3D
...wonder how much of that they're reinvesting in exploration (which is getting a lot more expensive)
Senior Member
Joined: Nov 2004
Posts: 645
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From: Airdrie, AB
This is a great example of media manipulation of the numbers.
Please allow me to play the devil's advocate...
Joe the Storekeeper buys widgets for $1, shines them up, then sells them for a 10% profit at $1.10. Last year, he sold 100 widgets for a profit of $10
When one of the three widget factories in the world is blown up by terrorists, the cost of widgets for Joe Storekeeper goes to $5. Since Joe has always been able to make a 10% return on investment, he now sells them for $5.50. This year, even though he sold the same number of widgets, his profits skyrocket to $50.
Joe reports record profits, and even though he worked the same amount, he invested 5 times as much and quintupled his investment risk. He was fortunate to be able to afford the $5 widgets...many competitors only had the investment capital to buy 20 widgets because they only had $100 to spend on raw widgets. Joe is rewarded for his risk and exposure...what happens if the world demand for widgets goes away and he has a warehouse full of $5 widgets?
I'm not saying they all wear white hats, but look at the numbers, not the headlines...
Please allow me to play the devil's advocate...
Joe the Storekeeper buys widgets for $1, shines them up, then sells them for a 10% profit at $1.10. Last year, he sold 100 widgets for a profit of $10
When one of the three widget factories in the world is blown up by terrorists, the cost of widgets for Joe Storekeeper goes to $5. Since Joe has always been able to make a 10% return on investment, he now sells them for $5.50. This year, even though he sold the same number of widgets, his profits skyrocket to $50.
Joe reports record profits, and even though he worked the same amount, he invested 5 times as much and quintupled his investment risk. He was fortunate to be able to afford the $5 widgets...many competitors only had the investment capital to buy 20 widgets because they only had $100 to spend on raw widgets. Joe is rewarded for his risk and exposure...what happens if the world demand for widgets goes away and he has a warehouse full of $5 widgets?
I'm not saying they all wear white hats, but look at the numbers, not the headlines...
VERY WELL SAID!!!
I find it even more hypocritical when people who actually work in the industry complain about gas prices. Those who think oil prices are fixed show an obvious lack of understanding of the industry, or any industry for that matter.
I work in the industry, my paychecks come indirectly as a result of oil and natural gas profits, I don't want to see prices skyrocket, but it is a good thing to have some profitability in industry. Whether you work in the industry or not, your returns on all of your investment portfolios are most likely also going up when oil and gas profits go up.
Senior Member
Joined: Oct 2006
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The big difference in oil is there is no pure competition. Plus this whole lack of supply is bull for the most part . Yes, China and India are consuming more, but ever notice how when prices shoot up due to pure speculation they dont fall as fast or as much when the disaster doesnt happen?
OPEC blatently manipulates the prices because they can. They want it to cost $__ per barrel they match production to achieve that price.
The oil industry was one example we looked at in my economics course last year. There is collusion in pricing, but the way its done cannot be proven by law.
OPEC blatently manipulates the prices because they can. They want it to cost $__ per barrel they match production to achieve that price.
The oil industry was one example we looked at in my economics course last year. There is collusion in pricing, but the way its done cannot be proven by law.
Senior Member
Joined: Oct 2006
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Originally Posted by CrAz3D
agreed that competition isnt like small businesses like we need.
I would *MAYBE* support some sort of business regulation of oil (& health care) just like electricity & phone services
I would *MAYBE* support some sort of business regulation of oil (& health care) just like electricity & phone services
The Alberta tar sands have barely been touched, and already more than enough oil is being produced to meet the demand in Canada.
But, that would really cut the bottom line and those nice bonuses the execs need to buy that new mansion or an tenth yact.
Senior Member
Joined: Dec 2001
Posts: 752
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From: North of Dallas, South of Frisco
Originally Posted by dzervit
Sweet post, F150Europe! This is why I don't bitch about US gas prices! $3-$3.50/gal for 93 octane during the summer? Who cares!!! The US kicks ***! (except for all our whiners).
(except for all our whiners).Anytime someone farts in the middle east, we have to be there in time to smell it, and tell them what they had for dinner. That's got to be worth the discount.
Senior Member
Joined: Oct 2004
Posts: 605
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From: Knoxville, TN
Originally Posted by Bighersh
The only reason we get gas cheaper than other countries, is because of our employee discount.
Anytime someone farts in the middle east, we have to be there in time to smell it, and tell them what they had for dinner. That's got to be worth the discount.
Anytime someone farts in the middle east, we have to be there in time to smell it, and tell them what they had for dinner. That's got to be worth the discount.
Senior Member
Joined: Mar 2001
Posts: 1,919
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From: Western Massachusetts
You know damn well it's Bush and his oil buddies!
Double
Has anyone noticed that the price of:
milk
bread
copper
paint
leather
silverware
pants
a stamp
antifreeze
bananas
cat food
furniture
property tax
natural gas
ect.
ect.
has gone up?
People, we've just changed the numbers. There are tons of people making triple digits, do you think that you can make that kind of money and still pay $.89gal for gas and 1.89gal for milk?
But, oh, I forgot. It's Bush and his oil buddies. It's all about the oil.
Anytime someone farts in the middle east, we have to be there in time to smell it, and tell them what they had for dinner.
Has anyone noticed that the price of:
milk
bread
copper
paint
leather
silverware
pants
a stamp
antifreeze
bananas
cat food
furniture
property tax
natural gas
ect.
ect.
has gone up?
People, we've just changed the numbers. There are tons of people making triple digits, do you think that you can make that kind of money and still pay $.89gal for gas and 1.89gal for milk?
But, oh, I forgot. It's Bush and his oil buddies. It's all about the oil.
Senior Member
Joined: Jan 2007
Posts: 774
Likes: 1
From: western washington
Originally Posted by 1muddytruck
Either way, it definately lends major credibility to the theory that the oil companies are unnecessarily jacking up prices, and blaming it on world events. We knew this already though...
So you got suckered into the hate the oil companies hype huh? There net profit sits around 8-9 %. The company I work for won't settle for less than 23% net profit. Who is greedier?
Senior Member
Joined: Jan 2007
Posts: 774
Likes: 1
From: western washington
The idea of regulation has been kicked around in the past. But, the general conclusion is that it would lead to slightly higher prices with fewer fluctuations. What is needed is serious effort to expose and curb the price fixing that does occur. What would really help is if all the oil in NA was used and sold domestically off the world market, taking OPECS bull **** outta the equation. There is more than enough oil to meet the demand, but oil companies are multi-nationals with interests all over the globe.
______
better yet, how about we vote the dumbocrats out of office and let the US drill the oil we know we have? The dumbocrats won't let us start new oil rigs or make new refineries. How STUPID is that?
______
better yet, how about we vote the dumbocrats out of office and let the US drill the oil we know we have? The dumbocrats won't let us start new oil rigs or make new refineries. How STUPID is that?