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HomeOff Topics › Exxon shatters profit records
02-04-2008 06:43 PM  10 years agoPost 101
SSN Pru

rrElite Veteran

Taxachusetts

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In your case, you would cut your fuel cost in half. If you are driving 110 miles a day @ 25MPG, then you are spending about $13.00 a day in gas. If you drive to work 20 days a month, then you are spending about $264.00 a month in gas.

Cut that in half, and you have saved $132.00 a month. That is over half of the car payment already, and that's without even factoring the value of your trade in.
Thats only half the calculation man. What you make up for in gas savings you pay for in car payments. this all excludes the fact that older cars such as the one you would suggest are going to require a lot in maintenance and would only be a short term solution. I spend $0 on my car for maintenance outside of the regular stuff.

I know what my options are, you don't need to outline them for me. thanks anyways. how about the average American who doesn't have something to sell to make the costs up? Think of that one? of course not!

the whole point being here that if "someone" weren't jacking the prices of oil, I wouldn't be in this situation and neither would many more americans.

Stupidity can be cured. Ignorance is for life!

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02-04-2008 07:22 PM  10 years agoPost 102
1stPlace

rrApprentice

Ohio USA

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I know what my options are, you don't need to outline them for me. thanks anyways. how about the average American who doesn't have something to sell to make the costs up? Think of that one? of course not!
Like I said, it's your unwillingness to look for a solution, and you just proved that. All you want to do is sit around and bitch about "the man" keeping you down.

BTW, the average American can put $3000.00 on a credit card and have about a $70.00 a month payment. If you can't do that, then it is your fault for wrecking your credit and limiting your options. The oil companies certainly had nothing to to with that.

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02-04-2008 07:41 PM  10 years agoPost 103
SSN Pru

rrElite Veteran

Taxachusetts

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1stplace,

You've ASSumed wrong buddy. My credit happens to be in tip top shape. My situation has nothing to do with any wrecked credit.

Please stop pretending you know what every American's situation is.

You sound very ignorant when doing so!

As I have already stated: (1stplace, I'll make it huge this time and bold!)

"My argument here has nothing to do with the fact that I can't or won't get a car with better gas mileage. I wouldn't even have to consider that if "someone" weren't flucking with the price of oil!!!!!"

Better 1stplace? I can't make it any clearer.

Stupidity can be cured. Ignorance is for life!

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02-04-2008 08:23 PM  10 years agoPost 104
1stPlace

rrApprentice

Ohio USA

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Oh! I see... Sorry, I thought you were looking for a realistic solution to your money crunch (caused by rising gas prices). But, I guess it is easier to bitch about it, cry about it and type it in bold print, rather than finding a realistic way to help your situation. My bad... sorry!
You sound very ignorant when doing so!
Ignorant? Mmmm....not really, more like arrogant

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02-04-2008 08:54 PM  10 years agoPost 105
nitrojunkie

rrApprentice

N.C

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I think the record profits for the oil companies can summed up as economic terrorism. Yep thats my opinion and I'm stickin to it.

I love the smell of nitro in the morning..

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02-04-2008 08:54 PM  10 years agoPost 106
whirlyspud

rrKey Veteran

USA

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...

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02-04-2008 09:05 PM  10 years agoPost 107
RonHill

rrVeteran

FLL, FL

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Economics don't come into play when you are DEPENDENT on something
Once again though, your argument falls flat on its face because soft drinks don't power our economy does, oil does...
Totally incorrect. You can't really claim that economic pricipals just stop working when it applies to one type of commodity. You may wish that to be true, but that does not make it true.

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02-04-2008 09:08 PM  10 years agoPost 108
hootowl

rrProfessor

Garnet Valley, Pa.

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So why aren't the refineries looking like palaces?

Wolves don't lose sleep over the opinions of sheep

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02-05-2008 04:05 AM  10 years agoPost 109
AceHelis

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Georgetown, Texas

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Whats the deal?
You guys havnt sold your SUV's, or your boats or your recreational vehicles. We just go on. My question to all of you libs, blaming the president (how moronic), is if you were in the oil producers shoes would you just give it all away? I suppose you would set your own self imposed limit on the prices. No matter how much production costs went up or how much you had to eat you would do the right thing so that all the general public could be happy and everything be fair. Yea right. I think we should ask the same of any entreprenuer. Im going to write to DYD and tell him that his prices on canopies are way to high and not enough people can afford to buy them (even though he is backed up for months on orders.

And by the way, isnt it kind of ironic that you guys are bitching about oil prices here on a forum dedicated to a naturally expensive hobby? I dont see any of you selling your helis to pay for fuel? Must not be that bad.

Did he crash? Dang I missed it!

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02-05-2008 04:29 AM  10 years agoPost 110
classic

rrElite Veteran

All over the place!

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interesting thread.

Which is worse, ignorance or apathy? I don't know and I don't care!

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02-05-2008 04:40 AM  10 years agoPost 111
AceHelis

rrVeteran

Georgetown, Texas

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Cjames
Not intending to insult any one in particular, only this line of thinking. Its always a blame game instead of just dealing with it. Please answer my question. If you were in their shoes what would you do? As to business, business is good. Thanks for asking.

Did he crash? Dang I missed it!

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02-05-2008 04:44 AM  10 years agoPost 112
classic

rrElite Veteran

All over the place!

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What would I do??

Well, I have owned my own business before, and I charged what the market would bear.

I DIDN'T however do ANYTHING that could be considered "preditory, unfair, bullying to the competition ect..."
I doubt the same could be said about the oil companies.

Which is worse, ignorance or apathy? I don't know and I don't care!

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02-05-2008 04:56 AM  10 years agoPost 113
AceHelis

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Georgetown, Texas

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Apologies to Cjames
I spoke out of turn. Thanks for the comments.

Did he crash? Dang I missed it!

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02-05-2008 05:32 AM  10 years agoPost 114
Ronald Thomas

rrMaster

Gainesville, Fl, USA

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Totally incorrect. You can't really claim that economic pricipals just stop working when it applies to one type of commodity. You may wish that to be true, but that does not make it true.
So enlighten us.

Team MikadoUSA 480XXTreme, 550SX, 600SX, 700XXTreme, 800XXTreme!!

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02-05-2008 05:41 AM  10 years agoPost 115
Stet

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Key Largo FL

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Ok, so pick your commodity

Gold and Platinum, through the roof. Both essential for technology

Corn, through the roof, now it is a fuel (the world can starve so we have clean burning fuel while there is an endless supply of petroleum).

Housing, through the roof, I need a place to live and pay more than my income.

It is all based on the market, futures trading, etc. The market is a stabilizing force, things sell for what they are worth and what people are willing to pay. If you don't think the energy density of a gallon of gasoline is worth the $3 you pay for it, I have news for you. It is the most cost effective energy out there.

keepin' it real

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02-05-2008 07:22 AM  10 years agoPost 116
RonHill

rrVeteran

FLL, FL

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laughingstill
So enlighten us.
I'll try.

First you claim:
Since Bush got in office (oil family) the prices of gas have steadily risen to three times what they were before he got in
While not incorrect, that says nothing really and you are trying to imply something that just is not true...So while your facts are correct, your implications are not.

The cost to produce gas has also risen due to having to use such techniques as shale recovery which was considered too expensive when oil was 30 dollars a barrel, but now looks cost effective at 90. From the link in the first post of this thread,
But finding oil has also become more costly. The oil boom has led to a surge in exploration and drilling activity, which has pushed up the price for skilled workers and equipment.

Furthermore, new supplies of oil are increasingly difficult to find and generally tend to be located in harder to reach - and hence more expensive - places. The new natural gas field discovered this week by Brazil's Petrobras lies three miles under the ocean.
And the "record" profits seem really big when you look at the total numbers. But again, not the whole picture. From 1977 through 1999, net income in the oil industry was equal to only 9.7 percent, as opposed to 11.5 percent for all of American industry.

From the link in the first post of this thread,
Analysts were looking for the company to report quarterly profit of $10.36 billion on revenue of $114.9 billion
10.36 B is 11% of 114.9 B. So from 1999 to 2008 their net gain was 1.3%. Nowhere NEAR your claims of THREE TIMES anything.

In a commodity business, where a significant portion of operating costs is raw materials, it is pretty common to look at profit as a percentage of sales. Detractors don't like that since 11% does not sound "evil" enough. They like to use numbers that sound better to them...So they use the total number and pay no attention to how much more it cost to make that big of a number in sales.

So yes, the oil company's are doing about 1.5% better than in 1999. Not "sexy" and it does not make the oil company's look "evil"...But a much more accurate set of numbers.

Then you said,
They are supposed to make a profit but not to the point where it is ridiculous.
Bank of America posted a 41% increase in profit for 2006 over 2005...Where is your outrage at that?

http://www.marketwatch.com/News/Sto...39CAF9467A4E%7D

Microsoft rose 27%...Where is your outrage at that?

http://www.microsoft.com/msft/earni..._rel_q1_08.mspx

So to put this in perspective:
Bank of America 41% = OK
Microsoft 27% = OK
Exxon 11% = BAD

And finally this:
Economics don't come into play when you are DEPENDENT on something like we are on oil unfortunately
One simple way it is wrong is that supply and demand works in EVERYTHING. Looking at supply and demand inside a market is known as micro-economics. Your complaint that you "need" oil is really just your way of complaining about demand for an inelastic good. It is not like you are going to drive more just because oil is less expensive, nor are you likely able to drive less just because it becomes more expensive. You still want/need/have demand for oil no matter what the cost.

Oil is strange in the fact that both supply and demand are both relatively inelastic. It is difficult to suddenly get more oil just because we want it, and it is difficult to suddenly use less oil (as you know). Any economist will tell you that there are two "curves," supply and demand, and that the curves will adjust to a new meeting point anytime there is an adjustment to either the supply or demand.

So what you have is micro-economic issues with an inelastic supply and an inelastic demand....But it is still supply and demand.

Here is a neat article...From a cite that is not Bush friendly at all. Entitled "Demand for Oil Outstripping Supply"

http://www.commondreams.org/views04/0128-10.htm
Additional supplies could be generated from tar sands and oil shale in Western Canada and in Venezuela's Orinoco belt. But more than half as much energy is used extracting this oil as the energy value of the oil produced. Other potential supplies, such as polar oil and liquid natural gas, are horrendously expensive.

The real problem isn't supply, though. It's demand. Last year, one element of the demand equation clicked into place. In 2003, China overtook Japan to become the world's second-largest consumer of oil. The International Energy Agency describes China as "the major driver of global demand growth."
They mention supply and demand, yet you claim it does not apply to oil?!?!?!?!

How about this one: "Oil supply lagging demand, says IEA"
http://www.ft.com/cms/s/0/a38a39ae-...00779fd2ac.html
Opec needs to increase its production in the short-term as world oil supply is lagging demand, the industrialized countries’ energy watchdog warned on Friday.
If you want to blame anyone....Blame OPEC
Saudi Arabia, the cartel’s leader, kept its supply almost unchanged at 8.6m b/d. The kingdom’s output is about 6 per cent below this time last year. Opec controls about 40 per cent of the world’s oil production.
I hope that helped.

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02-05-2008 07:29 AM  10 years agoPost 117
GimbalFan (RIP)

rrProfessor

Big Coppitt Key, FL

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Nicely done, Ron.

op-thwop-thwop-thwop-thwop-thwop-thwop-thwop-thwop-thwop-thwop-thwop-thwop-t

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02-05-2008 07:30 AM  10 years agoPost 118
classic

rrElite Veteran

All over the place!

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Dang greedy ragheads

Which is worse, ignorance or apathy? I don't know and I don't care!

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02-05-2008 09:46 AM  10 years agoPost 119
hootowl

rrProfessor

Garnet Valley, Pa.

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I remember when low supply caused oil prices to jump drastically. People waited in line to fill their tanks. There were alternating days going by the last number on your license plate. If you were odd you went this day, if you were even you went that.

Regardless of whether there really was a shortage, the laws of supply and demand jacking up prices made sense. You saw the supply decrease.

Today at over $3 a gallon there is more oil than we know what to do with and we can buy as much as we want any time we want. So it's not oil supply, it's greed... whatever the consumer is willing to pay. That's the supply and demand we are talking about here... the supply of willingness to buy the stuff. The higher the willingness, the higher the prices regardless of product supply.

I think we are all stupid sheep. We can control this somewhat as a unified group without murder/violence or public protest like some nutty people in this world think.

Just like the oil industry calculates the publics future moves, we too can do the same with them. Notice how the Fed and the oil companies conveniently jack up the price of diesel fuels as soon as they catch wind of a trend to use less oil through the use of diesel powered vehicles? In response it has taken the automotive innovators to task to develop even more efficient oil burners. Did you know you can now buy a diesel car in Germany (Polo) that beats the Toyota Prius Hybrid by 20 mpg?

We can put pressure back on the oil companies by using less and less oil. The Katrina spike.... do you think if we all really did what the spam emails suggested about not filling up our cars and going a week with minimum driving, the surge in supply would drop prices as fast as the Katrini increase?

Oil companies take full advantage of our lack of willingness.

Wolves don't lose sleep over the opinions of sheep

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02-05-2008 02:02 PM  10 years agoPost 120
SSN Pru

rrElite Veteran

Taxachusetts

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Gold and Platinum, through the roof. Both essential for technology

Corn, through the roof, now it is a fuel (the world can starve so we have clean burning fuel while there is an endless supply of petroleum).
I'd like you to expand a bit on how exactly gold and platinum are essential for technology?

Yes, the world can starve, We need to stop taking care of the rest of the god damned world and take care of ourselves. If we don't then no one will be able to take care of anyone!

What is gonna happen after we go bankrupt financing and helping out every poor country who comes begging to us? We need to stop that BS and help ourselves first which will put us in a much better position to continue helping the other people in this world.

an endless supply of petroleum


WOW

This statement clearly shows your lack of knowledge on the subject!!!

Stupidity can be cured. Ignorance is for life!

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