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#31
posted to rec.boats
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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. |
#32
posted to rec.boats
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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% |
#33
posted to rec.boats
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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 |
#34
posted to rec.boats
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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. |
#35
posted to rec.boats
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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. |
#36
posted to rec.boats
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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. |
#37
posted to rec.boats
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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. |
#38
posted to rec.boats
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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 |
#39
posted to rec.boats
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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. |
#40
posted to rec.boats
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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. |
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