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Why gas is $5.00/gal
On Sun, 24 Apr 2011 23:39:21 -0400, Wayne B
wrote: On Sun, 24 Apr 2011 22:12:38 -0400, Gene wrote: On Sun, 24 Apr 2011 21:05:44 -0400, Wayne B wrote: On Sun, 24 Apr 2011 20:39:41 -0400, Gene wrote: On Sun, 24 Apr 2011 18:25:30 -0400, Wayne B wrote: On Sun, 24 Apr 2011 12:41:35 -0400, Gene wrote: Holding a big inventory of oil in your tank farm is not without risk and it takes massive investments in time and money to build the infrastructure. Not surprisingly, the people who make those investments expect to earn a profit once in a while. "A profit once in a while.....?" http://www.nytimes.com/2011/02/01/business/01oil.html http://www.grist.org/article/2010-04...ution-while-am http://money.cnn.com/2010/07/29/news...xxon/index.htm http://money.cnn.com/magazines/fortu...anies/profits/ The oil companies and speculators are almost single-handedly preventing an economic recovery.... and they are being paid handsomely to do so..... and you are DEFENDING that? Incredible..... It's a very cyclical business and no one feels sorry for Exxon when they have stagnant growth, or even worse, when they fail to discover enough new oil to replace what they sold. Unfortunately that is what is happening. It is probably reasonable to assume that as their exploration and acquisition costs go up, and as their reserves go down, they will want a higher price for the product. In the interest of full disclosure, I own stock in both Exxon and Chevron-Texaco. Their annual reports make interesting reading and the future for energy prices is not good. Somehow, you are missing the reality that when Exxon loses money, the stockholders are ****ed..... when Exxon continues to make record profits in an otherwise miserable economy, they are sticking it to all of the users of gasoline.... one way or the other, the entire American population.... and to the entire American economy.... Let's not forget that they are entitled to make a profit no matter how miserable the economy might be. Their costs are going up, way up. Our cost will go up also. The dollar continues to depreciate. That's a result of our fiscal policies and upside down balance of payments. A strong dollar would result in cheaper oil, and that is what we've been used to in the past. Corporations are not, like any individual, entitled to commit treason with impunity.... no matter how important profit is, to some self centered investors... Strong words Gene. I always believed you were more thoughtful than that (unless you are being spoofed of course, in which case I apologize). Someone has to explore for this oil, pump it, refine it and deliver it to us. There has to be a profit in that to provide the incentive to find and pump more of it, just like any other business or any other product. What about the farmers? They also supply an essential product wouldn't you agree? Right now they are reaping sky high profits on corn because our government thought it was a good idea to burn ethanol as fuel. Should we accuse the farmers of treason for making increased profits on an essential product? Yes, someone has to do it, and making a profit is important. However, making a profit should not be and cannot be allowed to destroy the environment and kill people. Every business I know of has to abide by regulations that go beyond the day-to-day operation of the corp. There is nothing wrong with regulating an industry that can do the kind of environmental damage we've witnessed. What about farmers? The large agri-business' don't need subsidies, just like big oil doesn't need them. That should end. |
Why gas is $5.00/gal
"Wayne B" wrote in message
... On Sun, 24 Apr 2011 20:39:41 -0400, Gene wrote: On Sun, 24 Apr 2011 18:25:30 -0400, Wayne B wrote: On Sun, 24 Apr 2011 12:41:35 -0400, Gene wrote: Holding a big inventory of oil in your tank farm is not without risk and it takes massive investments in time and money to build the infrastructure. Not surprisingly, the people who make those investments expect to earn a profit once in a while. "A profit once in a while.....?" http://www.nytimes.com/2011/02/01/business/01oil.html http://www.grist.org/article/2010-04...ution-while-am http://money.cnn.com/2010/07/29/news...xxon/index.htm http://money.cnn.com/magazines/fortu...anies/profits/ The oil companies and speculators are almost single-handedly preventing an economic recovery.... and they are being paid handsomely to do so..... and you are DEFENDING that? Incredible..... It's a very cyclical business and no one feels sorry for Exxon when they have stagnant growth, or even worse, when they fail to discover enough new oil to replace what they sold. Unfortunately that is what is happening. It is probably reasonable to assume that as their exploration and acquisition costs go up, and as their reserves go down, they will want a higher price for the product. In the interest of full disclosure, I own stock in both Exxon and Chevron-Texaco. Their annual reports make interesting reading and the future for energy prices is not good. Somehow, you are missing the reality that when Exxon loses money, the stockholders are ****ed..... when Exxon continues to make record profits in an otherwise miserable economy, they are sticking it to all of the users of gasoline.... one way or the other, the entire American population.... and to the entire American economy.... Let's not forget that they are entitled to make a profit no matter how miserable the economy might be. Their costs are going up, way up. Our cost will go up also. The dollar continues to depreciate. That's a result of our fiscal policies and upside down balance of payments. A strong dollar would result in cheaper oil, and that is what we've been used to in the past. Reply: Chevron bought Texaco when the oil companies were getting about a 2% return overall. No one except us stockholders were crying the blues about the poor oil companies. Is why Texaco went up for sale. I own both Exxon and Chevron also, and they have been good to wife and I. Not as good as Altria, but since I figure oil, health and sin will always be profitable, helps with the retirement. Chevron was getting about a 12% return at the same time Citigroup was exploiting the masses and the government and returning 35% to profit margin. |
Why gas is $5.00/gal
Gene wrote:
On Sun, 24 Apr 2011 21:05:44 -0400, Wayne B wrote: On Sun, 24 Apr 2011 20:39:41 -0400, Gene wrote: On Sun, 24 Apr 2011 18:25:30 -0400, Wayne B wrote: On Sun, 24 Apr 2011 12:41:35 -0400, Gene wrote: Holding a big inventory of oil in your tank farm is not without risk and it takes massive investments in time and money to build the infrastructure. Not surprisingly, the people who make those investments expect to earn a profit once in a while. "A profit once in a while.....?" http://www.nytimes.com/2011/02/01/business/01oil.html http://www.grist.org/article/2010-04...ution-while-am http://money.cnn.com/2010/07/29/news...xxon/index.htm http://money.cnn.com/magazines/fortu...anies/profits/ The oil companies and speculators are almost single-handedly preventing an economic recovery.... and they are being paid handsomely to do so..... and you are DEFENDING that? Incredible..... It's a very cyclical business and no one feels sorry for Exxon when they have stagnant growth, or even worse, when they fail to discover enough new oil to replace what they sold. Unfortunately that is what is happening. It is probably reasonable to assume that as their exploration and acquisition costs go up, and as their reserves go down, they will want a higher price for the product. In the interest of full disclosure, I own stock in both Exxon and Chevron-Texaco. Their annual reports make interesting reading and the future for energy prices is not good. Somehow, you are missing the reality that when Exxon loses money, the stockholders are ****ed..... when Exxon continues to make record profits in an otherwise miserable economy, they are sticking it to all of the users of gasoline.... one way or the other, the entire American population.... and to the entire American economy.... Let's not forget that they are entitled to make a profit no matter how miserable the economy might be. Their costs are going up, way up. Our cost will go up also. The dollar continues to depreciate. That's a result of our fiscal policies and upside down balance of payments. A strong dollar would result in cheaper oil, and that is what we've been used to in the past. Corporations are not, like any individual, entitled to commit treason with impunity.... no matter how important profit is, to some self centered investors... How unAmerican of you, Gene! :) Don't you believe in corporations über alles? I believe we need to "restructure" certain aspects of our society, and part of that restructuring should be how we handle leases to explore and drill for oil and natural gas. There's nothing sacred about for-profit corporations. That model isn't working anymore for us. It's milking the middle class dry and accelerating the transfer of wealth to the very rich. There are any number of oil-producing countries in which ownership of that asset is retained by the state, and the revenues used to finance the government. The problem here is that Americans have been brainwashed into thinking the price-fixing, for-profit private sector that dominates the energy business is the only way to do that sort of business. |
Why gas is $5.00/gal
"Wayne B" wrote in message Let's not forget that they are entitled to make a profit no matter how miserable the economy might be. - - - Whoa...they're "entitled" to make a profit? Wow...oil company entitlements. |
Why gas is $5.00/gal
On Sun, 24 Apr 2011 20:39:41 -0400, Gene wrote:
On Sun, 24 Apr 2011 18:25:30 -0400, Wayne B wrote: On Sun, 24 Apr 2011 12:41:35 -0400, Gene wrote: Holding a big inventory of oil in your tank farm is not without risk and it takes massive investments in time and money to build the infrastructure. Not surprisingly, the people who make those investments expect to earn a profit once in a while. "A profit once in a while.....?" http://www.nytimes.com/2011/02/01/business/01oil.html http://www.grist.org/article/2010-04...ution-while-am http://money.cnn.com/2010/07/29/news...xxon/index.htm http://money.cnn.com/magazines/fortu...anies/profits/ The oil companies and speculators are almost single-handedly preventing an economic recovery.... and they are being paid handsomely to do so..... and you are DEFENDING that? Incredible..... It's a very cyclical business and no one feels sorry for Exxon when they have stagnant growth, or even worse, when they fail to discover enough new oil to replace what they sold. Unfortunately that is what is happening. It is probably reasonable to assume that as their exploration and acquisition costs go up, and as their reserves go down, they will want a higher price for the product. In the interest of full disclosure, I own stock in both Exxon and Chevron-Texaco. Their annual reports make interesting reading and the future for energy prices is not good. Somehow, you are missing the reality that when Exxon loses money, the stockholders are ****ed..... when Exxon continues to make record profits in an otherwise miserable economy, they are sticking it to all of the users of gasoline.... one way or the other, the entire American population.... and to the entire American economy.... Gene, do you not think the drop in value of the dollar has had any affect on oil prices? Is it a coincidence that oil and gold are both hitting new highs? Has Obama had any affect on the value of the dollar? Remember...without corporations, there would be no unions. Then where would all the liberal whining come from? Oh wait, I suppose even a socialist government *could* allow unions. |
Why gas is $5.00/gal
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Why gas is $5.00/gal
In article , payer3389
@mypacks.net says... Wayne B wrote: On Sun, 24 Apr 2011 08:36:48 -0400, Gene wrote: uh no. it's speculators. they caused a similar run up under the white guy who preceded the guy you hate because he's black Damn speculators. Why aren't more people doing it? Let's go halves on a tanker load and resell it on EBAY. Anybody else want in on the deal? We're going to need a dock, tank farm, distribution network, trucks, pipelines and a whole sh*t load of permits. With some help from Wall Street we can probably get 90 day financing. Sorry, you are too late..... the guys that already had all of that are reaping all the profits...... re-read that thing about frugality.... proactiveness is number one..... Holding a big inventory of oil in your tank farm is not without risk and it takes massive investments in time and money to build the infrastructure. Not surprisingly, the people who make those investments expect to earn a profit once in a while. I haven't seen anyone suggesting earning a profit is illegal or immoral. Questions arise when those profits become synonymous with rip-off, and that's what the petrol industry is doing, ripping us off. Where do you draw the line? When do profits become synonymous with rip- off? What happens if you find out that some other industry is not ripping you off but is over the line in profits? |
Why gas is $5.00/gal
In article ,
says... On Sun, 24 Apr 2011 18:25:30 -0400, Wayne B wrote: On Sun, 24 Apr 2011 12:41:35 -0400, Gene wrote: Holding a big inventory of oil in your tank farm is not without risk and it takes massive investments in time and money to build the infrastructure. Not surprisingly, the people who make those investments expect to earn a profit once in a while. "A profit once in a while.....?" http://www.nytimes.com/2011/02/01/business/01oil.html http://www.grist.org/article/2010-04...ution-while-am http://money.cnn.com/2010/07/29/news...xxon/index.htm http://money.cnn.com/magazines/fortu...anies/profits/ The oil companies and speculators are almost single-handedly preventing an economic recovery.... and they are being paid handsomely to do so..... and you are DEFENDING that? Incredible..... It's a very cyclical business and no one feels sorry for Exxon when they have stagnant growth, or even worse, when they fail to discover enough new oil to replace what they sold. Unfortunately that is what is happening. It is probably reasonable to assume that as their exploration and acquisition costs go up, and as their reserves go down, they will want a higher price for the product. In the interest of full disclosure, I own stock in both Exxon and Chevron-Texaco. Their annual reports make interesting reading and the future for energy prices is not good. Somehow, you are missing the reality that when Exxon loses money, the stockholders are ****ed..... when Exxon continues to make record profits in an otherwise miserable economy, they are sticking it to all of the users of gasoline.... one way or the other, the entire American population.... and to the entire American economy.... Don't buy their products if you don't like the way they do business. |
Why gas is $5.00/gal
BAR wrote:
In article8tqdned7uv_i2ynQnZ2dnUVZ_q6dnZ2d@earthlink .com, payer3389 @mypacks.net says... Wayne B wrote: On Sun, 24 Apr 2011 08:36:48 -0400, Gene wrote: uh no. it's speculators. they caused a similar run up under the white guy who preceded the guy you hate because he's black Damn speculators. Why aren't more people doing it? Let's go halves on a tanker load and resell it on EBAY. Anybody else want in on the deal? We're going to need a dock, tank farm, distribution network, trucks, pipelines and a whole sh*t load of permits. With some help from Wall Street we can probably get 90 day financing. Sorry, you are too late..... the guys that already had all of that are reaping all the profits...... re-read that thing about frugality.... proactiveness is number one..... Holding a big inventory of oil in your tank farm is not without risk and it takes massive investments in time and money to build the infrastructure. Not surprisingly, the people who make those investments expect to earn a profit once in a while. I haven't seen anyone suggesting earning a profit is illegal or immoral. Questions arise when those profits become synonymous with rip-off, and that's what the petrol industry is doing, ripping us off. Where do you draw the line? When do profits become synonymous with rip- off? In regard to these big oil companies, I believe we crossed that line years ago. Further, there are so many ways to cook the books, so to speak, in oil company bookkeeping, there's really no legitimate way to determine what their real "profits" are. That's true, of course, with many larger corporations, and their abilities to avoid paying taxes. I'm beginning to believe we ought to get out of the business of giving away our oil and gas via cheap leases so the oil companies can turn around and rape us. There are other ways to "produce" the goods so that the ownership and profits are there to benefit the country and its citizens. |
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