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"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. |
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