Gasoline prices - another record high
 

"Harry Krause" wrote in message
...

And, given that demand in recent days has been flat or shrinking, prices
are unlikely to continue upward, Lundberg suggested. "The overall gasoline
supply is not tight," she said.

NOYB says supply is the problem, and that's all I need to hear.

Last week, PBS-TV news interviewed a few futures traders and asked them how
much of the current price was "reality", and how much represented excess bid
into the price by traders. The estimates were from $15 to $25. Take away the
slot machines and the price could be as low as $50. This is white collar
crime at its worst.

Gasoline prices - another record high
 

"Harry Krause" wrote in message
. ..
JoeSpareBedroom wrote:
"Harry Krause" wrote in message
...

And, given that demand in recent days has been flat or shrinking, prices
are unlikely to continue upward, Lundberg suggested. "The overall
gasoline supply is not tight," she said.

NOYB says supply is the problem, and that's all I need to hear.

Last week, PBS-TV news interviewed a few futures traders and asked them
how much of the current price was "reality", and how much represented
excess bid into the price by traders. The estimates were from $15 to $25.
Take away the slot machines and the price could be as low as $50. This is
white collar crime at its worst.


Of course he has to say it is a "supply-demand" problem. To think
otherwise is to contemplate "manipulation" of the market by those who take
advantage of uncertainty, warmongering and unrest. Those like...big oil
and its political collaborators.

I've long been in favor of meaningful public oversight of the production,
distribution and pricing of petrol products. We've been getting butt-f'd
by big oil for decades.


I don't think it's the oil companies. It's the Harvard MBAs in the three
piece suits reading tea leaves and playing the numbers game on the stock
market. *These* are the ass***** that should be subject to public
oversight.

Eisboch

Gasoline prices - another record high
 

JoeSpareBedroom wrote:
"Harry Krause" wrote in message
...

And, given that demand in recent days has been flat or shrinking, prices
are unlikely to continue upward, Lundberg suggested. "The overall gasoline
supply is not tight," she said.

NOYB says supply is the problem, and that's all I need to hear.

Well, Rush and Hannity told him that... It HAS to be true.

Gasoline prices - another record high
 

"JoeSpareBedroom" wrote in message
...
"Harry Krause" wrote in message
...

And, given that demand in recent days has been flat or shrinking, prices
are unlikely to continue upward, Lundberg suggested. "The overall
gasoline supply is not tight," she said.

NOYB says supply is the problem, and that's all I need to hear.

Actually, I said that demand is the primary problem, with geopolitical
uncertainty a contributing factor.

Supply hasn't changed much.

Gasoline prices - another record high
 

"Harry Krause" wrote in message
. ..
JoeSpareBedroom wrote:
"Harry Krause" wrote in message
...

And, given that demand in recent days has been flat or shrinking, prices
are unlikely to continue upward, Lundberg suggested. "The overall
gasoline supply is not tight," she said.

NOYB says supply is the problem, and that's all I need to hear.

Last week, PBS-TV news interviewed a few futures traders and asked them
how much of the current price was "reality", and how much represented
excess bid into the price by traders. The estimates were from $15 to $25.
Take away the slot machines and the price could be as low as $50. This is
white collar crime at its worst.


Of course he has to say it is a "supply-demand" problem. To think
otherwise is to contemplate "manipulation" of the market by those who take
advantage of uncertainty, warmongering and unrest. Those like...big oil
and its political collaborators.

I've long been in favor of meaningful public oversight of the production,
distribution and pricing of petrol products.

As long as we're spending US tax dollars for our military to ensure that oil
flows uninterrupted from the Middle East, I agree with you. The oil
industry should at least be as regulated as the electrical power companies.

Gasoline prices - another record high
 

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

"JoeSpareBedroom" wrote in message
...
"Harry Krause" wrote in message
...

And, given that demand in recent days has been flat or shrinking, prices
are unlikely to continue upward, Lundberg suggested. "The overall
gasoline supply is not tight," she said.

NOYB says supply is the problem, and that's all I need to hear.

Actually, I said that demand is the primary problem, with geopolitical
uncertainty a contributing factor.

Supply hasn't changed much.




People who know more than you and I about this say that $15 to $25 of the
current barrel price is comprised of speculative excess. That should ****
you off no end.

Gasoline prices - another record high
 

"JoeSpareBedroom" wrote in message
...


People who know more than you and I about this say that $15 to $25 of the
current barrel price is comprised of speculative excess. That should ****
you off no end.


You've got that right. There's no shortage. It's all about the market.
It's BS.

Eisboch

Gasoline prices - another record high
 

"Eisboch" wrote in message
...

"JoeSpareBedroom" wrote in message
...


People who know more than you and I about this say that $15 to $25 of the
current barrel price is comprised of speculative excess. That should ****
you off no end.


You've got that right. There's no shortage. It's all about the market.
It's BS.

Eisboch


When it comes to stocks, smart people understand that the price often
doesn't reflect the actual value of the underlying companies. But, if a
stock price is out of line, you and I don't have to buy it. Oil's
different - we have to buy it.

Gasoline prices - another record high
 

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

"JoeSpareBedroom" wrote in message
...
"Harry Krause" wrote in message
...

And, given that demand in recent days has been flat or shrinking,
prices are unlikely to continue upward, Lundberg suggested. "The
overall gasoline supply is not tight," she said.

NOYB says supply is the problem, and that's all I need to hear.

Actually, I said that demand is the primary problem, with geopolitical
uncertainty a contributing factor.

Supply hasn't changed much.




People who know more than you and I about this say that $15 to $25 of the
current barrel price is comprised of speculative excess. That should ****
you off no end.

I'm not ****ed that you think there are people out there who know more than
me.

Gasoline prices - another record high
 

"NOYB" wrote in message
ink.net...

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

"JoeSpareBedroom" wrote in message
...
"Harry Krause" wrote in message
...

And, given that demand in recent days has been flat or shrinking,
prices are unlikely to continue upward, Lundberg suggested. "The
overall gasoline supply is not tight," she said.

NOYB says supply is the problem, and that's all I need to hear.

Actually, I said that demand is the primary problem, with geopolitical
uncertainty a contributing factor.

Supply hasn't changed much.




People who know more than you and I about this say that $15 to $25 of the
current barrel price is comprised of speculative excess. That should ****
you off no end.

I'm not ****ed that you think there are people out there who know more
than me.

Bad dodge.

Gasoline prices - another record high
 

On Tue, 25 Jul 2006 16:16:56 GMT, "NOYB" wrote:

The oil
industry should at least be as regulated as the electrical power companies.

That would be a great way to bring on an oil shortage. Have you ever
tried fishing from a sailboat? I have. There is just nothing like
the excitement of a big ticked off bluefish snapping around within the
confines of a small sailboat cockpit ! Imagine one of our little gulf
coast sharks doing the same thing. Yeee Hah...

Gasoline prices - another record high
 

On Tue, 25 Jul 2006 16:40:09 GMT, "JoeSpareBedroom"
wrote:

People who know more than you and I about this say that $15 to $25 of the
current barrel price is comprised of speculative excess.

That statement is speculation in and of itself.

So called "speculative excess" is mostly people who need oil on a
regular basis trying to ensure future supply guarantees at a price
they can live with. People like your utility company for example, or
your airline.

Gasoline prices - another record high
 

On Tue, 25 Jul 2006 18:45:03 GMT, "JoeSpareBedroom"
wrote:

Oil's
different - we have to buy it.

No you don't.

Have you heard about natural gas or propane?

Gasoline prices - another record high
 

"Wayne.B" wrote in message
...
On Tue, 25 Jul 2006 18:45:03 GMT, "JoeSpareBedroom"
wrote:

Oil's
different - we have to buy it.

No you don't.

Have you heard about natural gas or propane?


My car doesn't run on those.

Gasoline prices - another record high
 

"Wayne.B" wrote in message
...
On Tue, 25 Jul 2006 16:40:09 GMT, "JoeSpareBedroom"
wrote:

People who know more than you and I about this say that $15 to $25 of the
current barrel price is comprised of speculative excess.

That statement is speculation in and of itself.

So called "speculative excess" is mostly people who need oil on a
regular basis trying to ensure future supply guarantees at a price
they can live with. People like your utility company for example, or
your airline.


When that Chechnyan terrorist died a few weeks back, the price blipped down
a buck, according to the traders in the interview. That's fantasy at work.

Gasoline prices - another record high
 

"Wayne.B" wrote in message
...
On Tue, 25 Jul 2006 16:16:56 GMT, "NOYB" wrote:

The oil
industry should at least be as regulated as the electrical power
companies.

That would be a great way to bring on an oil shortage. Have you ever
tried fishing from a sailboat? I have. There is just nothing like
the excitement of a big ticked off bluefish snapping around within the
confines of a small sailboat cockpit ! Imagine one of our little gulf
coast sharks doing the same thing. Yeee Hah...


One of the nuts in the recent shark tournament out of Oak Bluffs, Martha's
Vineyard had to be medi-vac'd to the hospital. They pulled a mako into the
cockpit and the shark just about took his knee cap off.

Eisboch

Gasoline prices - another record high
 

"Eisboch" wrote in message
...

"Wayne.B" wrote in message
...
On Tue, 25 Jul 2006 16:16:56 GMT, "NOYB" wrote:

The oil
industry should at least be as regulated as the electrical power
companies.

That would be a great way to bring on an oil shortage. Have you ever
tried fishing from a sailboat? I have. There is just nothing like
the excitement of a big ticked off bluefish snapping around within the
confines of a small sailboat cockpit ! Imagine one of our little gulf
coast sharks doing the same thing. Yeee Hah...


One of the nuts in the recent shark tournament out of Oak Bluffs, Martha's
Vineyard had to be medi-vac'd to the hospital. They pulled a mako into
the cockpit and the shark just about took his knee cap off.

Eisboch


I only went shark fishing once, back in the early 1970s with a friend of my
father. When the captain was sure he wanted to keep the shark (for meat), he
let it swim a bit away from the boat, and put several shotgun slugs into it.
He'd apparently seen too many cabin windows turned into crumbs by flailing
tails.

Gasoline prices - another record high
 

"JoeSpareBedroom" wrote in message
...
"Eisboch" wrote in message
...

"Wayne.B" wrote in message
...
On Tue, 25 Jul 2006 16:16:56 GMT, "NOYB" wrote:

The oil
industry should at least be as regulated as the electrical power
companies.

That would be a great way to bring on an oil shortage. Have you ever
tried fishing from a sailboat? I have. There is just nothing like
the excitement of a big ticked off bluefish snapping around within the
confines of a small sailboat cockpit ! Imagine one of our little gulf
coast sharks doing the same thing. Yeee Hah...


One of the nuts in the recent shark tournament out of Oak Bluffs,
Martha's Vineyard had to be medi-vac'd to the hospital. They pulled a
mako into the cockpit and the shark just about took his knee cap off.

Eisboch


I only went shark fishing once, back in the early 1970s with a friend of
my father. When the captain was sure he wanted to keep the shark (for
meat), he let it swim a bit away from the boat, and put several shotgun
slugs into it. He'd apparently seen too many cabin windows turned into
crumbs by flailing tails.


This annual tournament is primarily a catch and release --- mostly
bluesharks --- but a Mako or Thresher is a keeper.
I've got quite a few friends that are really into this. I've tried it, but
it sorta reminds me of the annual running of the bulls festival in Spain.
Pointless, and somebody always gets hurt.

Eisboch

Gasoline prices - another record high
 

"JoeSpareBedroom" wrote in message
...

"Eisboch" wrote in message
...



One of the nuts in the recent shark tournament out of Oak Bluffs,
Martha's Vineyard had to be medi-vac'd to the hospital. They pulled a
mako into the cockpit and the shark just about took his knee cap off.

Eisboch


I only went shark fishing once, back in the early 1970s with a friend of
my father. When the captain was sure he wanted to keep the shark (for
meat), he let it swim a bit away from the boat, and put several shotgun
slugs into it. He'd apparently seen too many cabin windows turned into
crumbs by flailing tails.


This guy is a friend of mine and maintains a great website on New England
sharks. Good info.

http://www.newenglandsharks.com/shortfin.htm

Eisboch

Gasoline prices - another record high
 

"Eisboch" wrote in message
...

"JoeSpareBedroom" wrote in message
...

"Eisboch" wrote in message
...



One of the nuts in the recent shark tournament out of Oak Bluffs,
Martha's Vineyard had to be medi-vac'd to the hospital. They pulled a
mako into the cockpit and the shark just about took his knee cap off.

Eisboch


I only went shark fishing once, back in the early 1970s with a friend of
my father. When the captain was sure he wanted to keep the shark (for
meat), he let it swim a bit away from the boat, and put several shotgun
slugs into it. He'd apparently seen too many cabin windows turned into
crumbs by flailing tails.


This guy is a friend of mine and maintains a great website on New England
sharks. Good info.

http://www.newenglandsharks.com/shortfin.htm

Eisboch


If my son sees that site, I'll never hear the end of "We gotta go to Montauk
NOW!"

Speaking of teenagers, I just called him on his cell phone to remind him to
get a copy of his eye exam results to bring to his regular doctor later this
week. His response: "I can't talk now. My eyes are dilated".

Excuse me? :-)

Gasoline prices - another record high
 

Eisboch wrote:
"JoeSpareBedroom" wrote in message
...


People who know more than you and I about this say that $15 to $25 of the
current barrel price is comprised of speculative excess. That should ****
you off no end.


You've got that right. There's no shortage. It's all about the market.
It's BS.

Eisboch

There's no more shortage now than there was a year ago when gas was 2/3
the price it is now.

Gasoline prices - another record high
 

"JoeSpareBedroom" wrote in message
...
"NOYB" wrote in message
ink.net...

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

"JoeSpareBedroom" wrote in message
...
"Harry Krause" wrote in message
...

And, given that demand in recent days has been flat or shrinking,
prices are unlikely to continue upward, Lundberg suggested. "The
overall gasoline supply is not tight," she said.

NOYB says supply is the problem, and that's all I need to hear.

Actually, I said that demand is the primary problem, with geopolitical
uncertainty a contributing factor.

Supply hasn't changed much.




People who know more than you and I about this say that $15 to $25 of
the current barrel price is comprised of speculative excess. That should
**** you off no end.

I'm not ****ed that you think there are people out there who know more
than me.

Bad dodge.

Is there such a thing as a good dodge? Even with the Hemi, it's still a car
that will fall apart and be worth next to zilch in just a couple of years.

Gasoline prices - another record high
 

"Wayne.B" wrote in message
...
On Tue, 25 Jul 2006 16:16:56 GMT, "NOYB" wrote:

The oil
industry should at least be as regulated as the electrical power
companies.

That would be a great way to bring on an oil shortage.

Why? We rarely have an electrical shortage.

Gasoline prices - another record high
 

NOYB wrote:
"Wayne.B" wrote in message
...
On Tue, 25 Jul 2006 16:16:56 GMT, "NOYB" wrote:

The oil
industry should at least be as regulated as the electrical power
companies.

That would be a great way to bring on an oil shortage.

Why? We rarely have an electrical shortage.

Really? Don't read the news much, do you?

Gasoline prices - another record high/ supply and demand
 

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....." :-)


It *is* all about supply & demand. If the prices were high
enough that people would buy less of it, then they wouldn't
be making record profits, would they?

Right now the oil companies are experimenting to see just
how high they can push the prices before sales go down.
After all, they know they won't be in this business forever
even if some right-wingnuts think so.

Shucks, prices aren't even high enough that people drive a
little slower. Just a short while ago I was doing 75 in a 55
zone and getting run down by a steady stream of SUVs with
one person in them. 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.

DSK

Gasoline prices - another record high/ supply and demand
 

"DSK" 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....." :-)


It *is* all about supply & demand. If the prices were high enough that
people would buy less of it, then they wouldn't be making record profits,
would they?

Right now the oil companies are experimenting to see just how high they
can push the prices before sales go down. After all, they know they won't
be in this business forever even if some right-wingnuts think so.

Shucks, prices aren't even high enough that people drive a little slower.
Just a short while ago I was doing 75 in a 55 zone and getting run down by
a steady stream of SUVs with one person in them. 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.

DSK


So, was not just SUV's speeding. How many in your speeding vehicle? 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. You will be rolling in the moola, as you will have most of the
energy business. 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.

Gasoline prices - another record high/ supply and demand
 

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.

Gasoline prices - another record high/ supply and demand
 

... 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...

... 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.

DSK

Gasoline prices - another record high/ supply and demand
 

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!

Gasoline prices - another record high/ supply and demand
 

"Calif Bill" wrote in message
k.net...

"DSK" 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....." :-)


It *is* all about supply & demand. If the prices were high enough that
people would buy less of it, then they wouldn't be making record profits,
would they?

Right now the oil companies are experimenting to see just how high they
can push the prices before sales go down. After all, they know they won't
be in this business forever even if some right-wingnuts think so.

Shucks, prices aren't even high enough that people drive a little slower.
Just a short while ago I was doing 75 in a 55 zone and getting run down
by a steady stream of SUVs with one person in them. 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.

DSK


So, was not just SUV's speeding. How many in your speeding vehicle? 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. You will be rolling in the moola, as you will have most of
the energy business. 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.

Per the latest quarter for Exxon their profit percentage as measured by
dividing Profit by Income was 10.8% not 16%.

The oil industry profit "percentages" are lower than other industries like
banks, pharma/biotech, household/personal products, real estate. (2005
data).

$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.

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.