WarrenA
fully equipped rock polisher
Member since November 2003
Posts: 1,530
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Post by WarrenA on Apr 28, 2007 0:05:26 GMT -5
I predict that in the near future there will be attempts on the lives of oil exectutives
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Post by rockds on Apr 28, 2007 23:11:46 GMT -5
I think its great, heck I hope it keeps going higher and higher because if it stays low we will continue to feeding the monkey on our back which is OIL.
As far as the money goes, where does it say a company can make some profit but if it makes too much, well that not right. Last I checked capitalism is the system in America. If your boss came to you and said I want to give you a raise - who says 'no I'm making enough right now - give it to the homeless'
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Post by rocklicker on Apr 30, 2007 0:59:49 GMT -5
Yup, just as I thought, California was #1. I filled er up yesterday: $3.41 a gallon. Steve
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emyhro4048
spending too much on rocks
Member since March 2007
Posts: 396
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Post by emyhro4048 on Apr 30, 2007 6:43:26 GMT -5
3.30 a gallon here in Central California. Ed M.
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chassroc
Cave Dweller
Rocks are abundant when you have rocktumblinghobby pals
Member since January 2005
Posts: 3,586
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Post by chassroc on Apr 30, 2007 13:38:09 GMT -5
We're not talking about getting a 50cents/hours raise here. We're talking about doubling or tripling your salary awhile at the same time you eliminate the pensions of your employees, make them pay 25% more for helthcare when your rise in cost was 10-15%, and give yourself a 100Million dollar bonus for watching the bottom line csroc
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Post by sandsman1 on Apr 30, 2007 15:51:18 GMT -5
just went to truth or consequences and gas is 3.09 a gal
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stoneman92
starting to shine!
Member since February 2007
Posts: 30
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Post by stoneman92 on Apr 30, 2007 22:16:03 GMT -5
I didn't notice too many people complaining when the oil companies were losing money years back? An industry I don't think I would want to be involved in, can win for losing. I am starting to really think the same as Rockds. Feed that monkey!!!!!! When we find a way to send all those boats back to the middle east full..........man, that will be the day!! One of these days we have to pay the fiddler!!
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chassroc
Cave Dweller
Rocks are abundant when you have rocktumblinghobby pals
Member since January 2005
Posts: 3,586
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Post by chassroc on May 1, 2007 15:27:23 GMT -5
Stoneman...maybe your memory is keener than mine but I cannot remember the big oil companies losing money. Exxon did suffer in the exxon valdez disaster, but so did Prince Edward Sound and it did not seem to hurt the long term prospects of the company
These numbers may not be totally accurate but a quick search of the internet shows increasing profits every year for exxon mobil Exxon Mobil profits 2006 39 Billion Exxon Mobil profits 2005 36 Billion Exxon Mobil profits 2004 25 Billion Exxon Mobil profits 2003 21 Billion Exxon Mobil profits 2002 11 Billion Exxon Mobil profits 2001 5 Billion or was that year2000
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nightop
starting to spend too much on rocks
Member since April 2007
Posts: 132
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Post by nightop on May 1, 2007 16:29:08 GMT -5
Last week filled up at $2.97 this week $3.12. Have seen prices around at some of the named stations for $3.40
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Post by texaswoodie on May 1, 2007 19:42:18 GMT -5
Up to $2.79 here, and that's the very cheapest. I can see $3.25 or more by mid-summer.
Curt
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Post by texaswoodie on May 1, 2007 19:47:02 GMT -5
I didn't do the figures but I read Exxon made $75,000 a minute 24/7 for 2006.
Eight hours of that and I wouldn't give a damn what they charged.
Curt
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stoneman92
starting to shine!
Member since February 2007
Posts: 30
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Post by stoneman92 on May 1, 2007 20:04:21 GMT -5
chassroc, You can do these kind of searches but I sure wouldn't take them to the bank... <<<<These numbers may not be totally accurate but a quick search of the internet shows increasing profits every year for exxon mobil Exxon Mobil profits 2006 39 Billion Exxon Mobil profits 2005 36 Billion.....>>>>
Do a little more searching and you will also find that Exxon Mobil spent 15 billion dollars last year just on equipment. You can make the numbers show anything you would like BUT... last I knew this is a free market. Prices are too high for you, don't buy it!!
I'm still with rockds, let it hit $10 a gallon and then maybe we will see what a little science can do!!
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Post by akansan on May 1, 2007 20:18:12 GMT -5
About $2.95 here locally. Some places $2.91, some $2.98...
I know the local economy - yes, it is fueled by the oil industry - has crashed multiple times in the last twenty years. There are very few local companies in the area that were able to remain in business for 25 years, and those companies will tell you about the bottom falling out of the oil industry. One of the companies I work with keeps a reserve of $7 million dollars in various bank accounts for when the bottom will fall out again. They are fully aware that that $7 million will be gone in about ten years trying to keep the company afloat through the lean times. We're very grateful down here for the upswing in business!
As for profits, I just did a bit of quick research. This was written in 2006. I'm sure it still applies:
"Turns out, oil company profit margins–what they make on each dollar sold–were just about average at 8.8% in 2005 as compared to 8.5% for the economy as a whole. BP came in at about a 6.8% profit margin while ExxonMobile managed 10.7%. For comparison, Yahoo earned a 45% profit in the last quarter of last year. Taylor cites a Goldman Sachs study that finds the return on investment in the oil industry between 1970-2003 was less than the industrial average."
"...data from the U.S. Energy Information Administration (EIA) indicates that when the average price of unleaded regular peaked at about $3 a gallon in the middle of 2006, major companies were making a profit of about 10 cents a gallon on their U.S. refining and marketing operations."
Another study I read stated that for every dollar spent on gasoline, the oil companies earn about 5.9 cents - smack in the middle of profits. Most companies earn between 5.2 cents to 6.4 cents per dollar. It's the sheer volume of gasoline that's consumed at home and abroad that jacks the profits up.
Sorry, if it's in line with other industries, you can't complain of price gouging.
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181lizard
Cave Dweller
Still lurking :)
Member since December 2005
Posts: 2,171
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Post by 181lizard on May 2, 2007 11:55:13 GMT -5
Well....we're now at 3.19 as of tuesday & still climbing a couple of cents each day.
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chassroc
Cave Dweller
Rocks are abundant when you have rocktumblinghobby pals
Member since January 2005
Posts: 3,586
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Post by chassroc on May 2, 2007 13:01:08 GMT -5
OK...so Exxon Mobil spends 15 Billion on Equipment; that does not come out out their profit; it comes out of their operating expenses; basically out of you and me. The facts are that they made more than 35Billion dollars profit last year; that number is on top of any expenses. It is necessary to modernize pipelines and delivery mechanisms and the record of Exxon and BP is less than perfect in these areas.
I believe most of the risk in the oil business is not in the big ExxonMobil type companies. It is in the exploration and drilling where many smaller outfits take on the risk, because the reward can be so great. Even someone as great as our President has a losing record in the Oil Business, so there must be some great risks. these are not the kind of risks that Big Oil is taking.
When profits go up the way Exxons has, without taking compensatory risk there is a problem, Houston.
Energy is not a luxury, it is a necessity.
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Post by rockds on May 2, 2007 17:17:04 GMT -5
Big oil spends billions on exploration every year. Here is another FACT for ya, government taxation makes more money per gallon of gas than big oil does. I guess we need a little RED to make sure everyone is equal and no one makes more than their share.
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spikeict
fully equipped rock polisher
Alba gu bra! In Promptu
Member since November 2006
Posts: 1,413
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Post by spikeict on May 2, 2007 17:58:33 GMT -5
I am so sitting on the fence about this. Just yesterday I was with a friend when I saw a june bug on the sidewalk, I said OMG don't tell anyone we saw that the gas companies will raise the price of gas again if they knew (as in they will use any excuse). A year ago I was saying that in 1979 we were paying 1.69 now 1.99 and that gas was the slowest to catch up to inflation, suddenly it has caught up and beyond. This will have wide a ranging effect on everything we buy, but there will be no adjustment in wages so we can pay for the little things like food that was trucked in. I hope someone finds a middle ground.
Spike
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