Gasoline prices - another record high/ supply and demand
 

"basskisser" wrote in message
oups.com...

Calif Bill wrote:

So, was not just SUV's speeding. How many in your speeding vehicle? Oil
makes about 16% profit. Citigroup about 34%.


Horse****!! How would Citigroup make a 34% profit when their interest
rates aren't even that high?????? Let alone their operating expenses!

LOL. You really are clueless.

Gasoline prices - another record high/ supply and demand
 

"basskisser" wrote in message
oups.com...

Calif Bill wrote:

So, was not just SUV's speeding. How many in your speeding vehicle? Oil
makes about 16% profit. Citigroup about 34%.


Horse****!! How would Citigroup make a 34% profit when their interest
rates aren't even that high?????? Let alone their operating expenses!

Citigroup earned $5.27 billion, or $1.05 a share, in the second quarter, up
from 5.07 billion, or 91 cents a share, in the quarter a year ago. Revenue
rose 10 percent, to $22.2 billion.

$5.27B divided by $22.2B = 24.4%

Gasoline prices - another record high/ supply and demand
 

"NOYB" wrote in message
nk.net...

"basskisser" wrote in message
oups.com...

Calif Bill wrote:

So, was not just SUV's speeding. How many in your speeding vehicle?
Oil
makes about 16% profit. Citigroup about 34%.


Horse****!! How would Citigroup make a 34% profit when their interest
rates aren't even that high?????? Let alone their operating expenses!

LOL. You really are clueless.


Their interest rates aren't 18.8% either, but that's what the company
reports as its net profit margin:

http://tinyurl.com/l4b9x

Gasoline prices - another record high/ supply and demand
 

"basskisser" wrote in message
oups.com...

Calif Bill wrote:

So, was not just SUV's speeding. How many in your speeding vehicle? Oil
makes about 16% profit. Citigroup about 34%.


Horse****!! How would Citigroup make a 34% profit when their interest
rates aren't even that high?????? Let alone their operating expenses!


Other investments, for one thing. They also loan money in other countries,
where rates vary.

Gasoline prices - another record high/ supply and demand
 

"NOYB" wrote in message
nk.net...

"basskisser" wrote in message
oups.com...

Calif Bill wrote:

So, was not just SUV's speeding. How many in your speeding vehicle?
Oil
makes about 16% profit. Citigroup about 34%.


Horse****!! How would Citigroup make a 34% profit when their interest
rates aren't even that high?????? Let alone their operating expenses!

LOL. You really are clueless.


Exxon Mobil's net profit margin is 11%:

http://moneycentral.msn.com/investor...ymbol=US%3AXOM

Citigroup's net profit margin is 18.8%. Must be that strong economy again.

Gasoline prices - another record high/ supply and demand
 

ACP wrote:


$10B in quarterly profits is a whole bunch of money but percent wise, as I
believe it should be viewed, it's not out of line.

Let's say I own the rights to all the water in the US. Every drop of
it.
I then price it out at a rate where I'll only net a nickel a gallon.
It would be easy to say, "look, I'm only making a nickel a gallon"- but
if everybody had to pay that much for water there might not be enough
money in the entire economy to pay the bill.

Until the other components of free enterprise, open market economics
(like competition, for a start) begin to apply to the oil company
cartels the isolated argument from that universe of vairables: "We
deserve to make as much money as we possibly can as fast as we can make
it" will cause a lot of resentment at the fuel dock.

$10B in quarterly profits puts the lie to all the excuses offered
weekly (weakly?) about fuel prices. It's not "uncertainty in the middle
East", or "fear of future hurricanes", or "the cost of switching from
winter blend to summer blend fuels". Rather obviously the vast majority
of the price increases is being retained as corporate profits, and any
increased cost of oil company operations is *not* driving the price of
gas or diesel anywhere nearly as much as corporate greed.

Gasoline prices - another record high/ supply and demand
 

On 27 Jul 2006 14:29:40 -0700, "Chuck Gould"
wrote:

Let's say I own the rights to all the water in the US. Every drop of
it.

Exxon does not even come close to owning all of the oil, it's actually
a very competetive business played for high stakes.

You should be glad that oil prices are high because it will ensure
that lots of drilling and exploration is in the budget. When oil
companies fail to make a profit, drilling and exploration goes on the
chopping block.

My advice is to buy some stock. Exxon is a very well managed company.

Gasoline prices - another record high/ supply and demand
 

"DSK" wrote in message
. ..
... Every single one of those drivers, if asked, would probably complain
heartily about the price of gas... but they're not *doing* anything about
it.



Calif Bill wrote:
So, was not just SUV's speeding.

Gee, talk about missing the point...

talk about missing the point. Or is it only SUV's that are bad while
speeding?


... Oil makes about 16% profit. Citigroup about 34%. You want to make
money, build a refinery and acquire crude and sell it for less money than
the competitors.

Can't do that the enviro-whackoes would shut it down! Or (more
realistically) one of the big oil companies would buy it up & keep it out
of production, they're not fools.

The funny thing is that refining has been the least profitable sector of
the industry for 18 out of the last 20 years. A sudden shift in the
economics of the oil bid'ness and bingo! ...you hear all the nuts popping
out of the woodwork.


... But to get the crude, you have to rent a deep water drilling rig for
$400k a day. Big bets, should get a good profit on wins.

??? You can buy it on the open market and have it delivered to your
terminal.


And how much a barrel will you be paying?

DSK

Gasoline prices - another record high/ supply and demand
 

"Don White" wrote in message
...
Chuck Gould wrote:
Driving back to the office, I could swear I just heard the radio
newsdude say that Exxon made about $10 billion in net profits during
the last 90 days.

If that's the case, then I have to agree with the apologists that the
outrageous cost to fuel my boat is all based upon "supply and
demand"......

as in "We monopolize the supply, and we hereby demand....." :-)


Here, self service low test went up to $1.23 per liter today.

Depends on the area of Canada. I just returned from a 7 week drive to
Alaska. Diesel which I burn, was lower than Regular. But the losest I paid
was $1.01Lt most I paid was $1.64Lt and the most I saw was $1.99 L. Who is
ripping you off? At about 3.8l/gallon that is in the range of $4 to $7 /
gallon.

Gasoline prices - another record high/ supply and demand
 

On Thu, 27 Jul 2006 23:07:20 -0400, Wayne.B wrote:


Exxon does not even come close to owning all of the oil, it's actually a
very competetive business played for high stakes.

You should be glad that oil prices are high because it will ensure that
lots of drilling and exploration is in the budget. When oil companies
fail to make a profit, drilling and exploration goes on the chopping
block.

It seems of late, that exploration has taken a backseat to consolidation.
This isn't a bad thing, but it shows the maturity of the sector. Most new
oil is deep and expensive. It is cheaper to buy, or merge to acquire,
more reserves.



My advice is to buy some stock. Exxon is a very well managed company.