"Harry Krause" wrote in message
...
thunder wrote:
On Fri, 09 Sep 2005 09:50:12 -0700, ed wrote:

To increase profitability ? They are making record profits as we type.
Were talking BILLIONS of dollars in profits. They are raping us because
they know they can.

I should have been clearer. I was referring to the profitability of the
refining section of the industry. The refining/marketing section profits
have lagged considerably behind the production profits.

http://www.eia.doe.gov/pub/oil_gas/p...ining_text.htm



“Bloomberg says the N.Y. futures market is pegging refinery profits at
$15.82 a barrel … Just to make clear how much more money that is, we were
paying about $15.82 a barrel for oil just seven years ago and less than
that in 1997.”

“Every single oil product, except for low-sulphur diesel, is suffering
from a supply glut in Asia. I simply cannot understand why oil futures are
so high.”
— Japanese oil trader (Reuters Business Report, August 11, 2005)

“If demand [for oil] were booming, traders would keep supplies within
Asia … instead of exploiting opportunities to ship gas oil to Europe and
divert Middle East crude to the U. S. Gulf Coast on hopes of better
profits.”
— Reuters Business Report, August 11, 2005

“The profit margin for turning a barrel of oil into heating oil and
gasoline is $15.82, the highest in at least 16 years based on futures
prices in New York. This is more than double the margin a year ago.”
— Bloomberg Business Report, August 12, 2005


Next?

So buy oil company stock.