Interesting Gas Price Article

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Apr 21, 2008 | 11:25 AM

#16

glc

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Joined: Dec 2006

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From: Joplin MO

Quote:

but the gas corp don't need a 200% or whatever profit they're seeing. Can't they live with a 10% profit for now until the economy can be fixed?

You need to get your facts straight. The oil companies are only making about 10% profit now, and have been all along. When oil was $25 a barrel, 10% profit is a lot less DOLLAR profit than now, where oil is $115 a barrel. The oil companies are PAYING $115 a barrel for the oil, they do not control that price. That price is set by the WORLD commodities market.

Apr 21, 2008 | 11:40 AM

#17

malexander52

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Joined: Nov 2006

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From: spring, texas

Mis Leading

Quote:

Originally Posted by zz28

IMO - Gas prices are high for one reason GREED. Oil companies are posting record profits in the BILLIONS for the past few years. Cut them down a notch and we all pay less than $2 per gallon.

There is no shortage, it's greed....

Record profits do not mean the oil company made record earnings. In reality their profit margin has not increased at all, however the cost of doing business has.
Oil companies are in business to make money. They are not profiting at our expense, they are profiting at our stupidity.

Apr 21, 2008 | 02:52 PM

#18

glc

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Joined: Dec 2006

Posts: 43,530

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From: Joplin MO

If you don't like what you are paying for gas, buy some ExxonMobil stock or something and get some of your money back.............I'll give you a hint, the earnings won't make you rich.

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