tx yote slayer
New member
just wait till it hits $4.25/gal at the end of the summer. /ubbthreads/images/graemlins/angry-smiley-055.gif
Record Profits!
- Thread starter claimbuster
- Start date
Where was this out cry when the Oil and gas industries were having record losses. Look around your house. there is nothing there that is not brought to you or made using petroleum products. You can't do with out it.
Even with the record profits, their profit per dollar invested is minimal compared to other industries.
I knew better than to click on this thread. I am going to bed, and will enjoy the AC, Brought to me by Petroleum.
Even with the record profits, their profit per dollar invested is minimal compared to other industries.
I knew better than to click on this thread. I am going to bed, and will enjoy the AC, Brought to me by Petroleum.
mi_yotes
New member
Quote:
Where was this out cry when the Oil and gas industries were having record losses. Look around your house. there is nothing there that is not brought to you or made using petroleum products. You can't do with out it.
Even with the record profits, their profit per dollar invested is minimal compared to other industries.
I understand and agree but a profit is a profit. The price of oil going up effects the cost of every product made irreguardless of what it is,but most peoples wages dont. People have to sacrifice and it hurts alot of people. They get laid off or just plain let go because companies arent selling what they were on account of rising product costs or people not being able to afford it. Im fortunate enough that I make good money, but it sucks for those who dont. To many people struggle to get by, just so the rich man can get richer.
Edited cause I can be illiterate.(hope I spelled that right)
Where was this out cry when the Oil and gas industries were having record losses. Look around your house. there is nothing there that is not brought to you or made using petroleum products. You can't do with out it.
Even with the record profits, their profit per dollar invested is minimal compared to other industries.
I understand and agree but a profit is a profit. The price of oil going up effects the cost of every product made irreguardless of what it is,but most peoples wages dont. People have to sacrifice and it hurts alot of people. They get laid off or just plain let go because companies arent selling what they were on account of rising product costs or people not being able to afford it. Im fortunate enough that I make good money, but it sucks for those who dont. To many people struggle to get by, just so the rich man can get richer.
Edited cause I can be illiterate.(hope I spelled that right)
Last edited:
Hunter00
New member
Here is an interesting link. Its pretty long but, has great information as to why prices have gone up. Seem to me goverment plays a REALLY big role in the price we pay at the pump.
http://www.taxpayersleague.org/NewIssues/GasBags/GASBAGS.htm
-Ron
http://www.taxpayersleague.org/NewIssues/GasBags/GASBAGS.htm
-Ron
Hunter00
New member
Here is the part I was looking for. The information below is from the following link, take a look. Just a little peice of the whole article. Be glad you don't live in Minnesota.
http://www.taxpayersleague.org/NewIssues/GasBags/GASBAGS.htm
Guess who makes the most money on gasoline?
I bet you didn’t know that the single largest oil “profiteer” is government.
In fact, government makes more money from oil than the oil industry.
Taxes make up about 17% of the cost of a gallon of gasoline (depending upon the price any given day). Minnesotans pay 40 cents per gallon in state and federal gas
taxes.
Then there’s the taxes levied on the oil industry. The oil industry has an effective tax burden of 42% compared to the S&P average of 30%.
Add it all together and federal and state governments have collected $2.2 trillion in taxes from the oil industry over the past 25 years – more than triple the $630 billion
in profits made by the oil industry over the same period.
http://www.taxpayersleague.org/NewIssues/GasBags/GASBAGS.htm
Guess who makes the most money on gasoline?
I bet you didn’t know that the single largest oil “profiteer” is government.
In fact, government makes more money from oil than the oil industry.
Taxes make up about 17% of the cost of a gallon of gasoline (depending upon the price any given day). Minnesotans pay 40 cents per gallon in state and federal gas
taxes.
Then there’s the taxes levied on the oil industry. The oil industry has an effective tax burden of 42% compared to the S&P average of 30%.
Add it all together and federal and state governments have collected $2.2 trillion in taxes from the oil industry over the past 25 years – more than triple the $630 billion
in profits made by the oil industry over the same period.
cmiddleton
New member
if we have a tea party lets not pour the stuff out.
makes to big of mess
makes to big of mess
I think it is funny to hear everyone complain about the big bad oil companies raping the innocent little consumer. Then when someone points out the FACTS that the government makes over three times the profit that the oil companies make the complainers still blame the oil companies. Every one can have an opinion but when your opinion is disproven by facts it is no longer valid. This is why I very rarely get involved in political discussions any more. It doesn't matter how many facts you give someone some people just don't want to admit the truth. It it makes me depressed to be getting mad at nice normal people just cause they don't like facts. If I wasn't home sick today I wouldn't even have read this thread.
Point is if you are mad about the price of gasoline start yelling at the people that won't let us drill what we have in our own country or the fact that we have so many different blends when one will do. There is one group to get mad at and you guys are falling for their propaganda. The enviros have already won the battle if you can't see that your anger is greatly misplaced.
You are also misunderstanding the theory of supply and demand if you don't realize that the fact that China is doing all of their construction projects is raising the price of international oil. Simply theory really as demand goes up so does the price of the supplied material.
Point is if you are mad about the price of gasoline start yelling at the people that won't let us drill what we have in our own country or the fact that we have so many different blends when one will do. There is one group to get mad at and you guys are falling for their propaganda. The enviros have already won the battle if you can't see that your anger is greatly misplaced.
You are also misunderstanding the theory of supply and demand if you don't realize that the fact that China is doing all of their construction projects is raising the price of international oil. Simply theory really as demand goes up so does the price of the supplied material.
cmiddleton we use a rollback from one of the smaller auto shops to move all of our heavy equipment(except for our big track hoe)saves us a lot of money is moving cost. Maybe something you could look into. We don't even have to be there anymore cause our guy can do all of the loading himself now.
Quote:
Every one can have an opinion but when your opinion is disproven by facts it is no longer valid. This is why I very rarely get involved in political discussions any more. It doesn't matter how many facts you give someone some people just don't want to admit the truth.
This is America. Every opinion is valid, whether informed or not. Further, this is a social/political issue, not a technical one. Relevant "truths" are dependent on relevant values, and no two people have the same values.
For myself, I don't really have a problem with such high profits as long as the profits are used responsibly to enhance the oil supply. In that regard, how many new refineries have been built or started since Katrina? Are efforts being made to find more oil supplies? How about technology? I don't know. If the oil companies are making efforts in this regard then they are doing an abysmal job at communication this to the consumer. I don't believe they are simply because higher prices means higher profit.
The chairman of GM once said "What's good for GM is good for America." I do not believe the same can be said for Exxon/Mobil.
Every one can have an opinion but when your opinion is disproven by facts it is no longer valid. This is why I very rarely get involved in political discussions any more. It doesn't matter how many facts you give someone some people just don't want to admit the truth.
This is America. Every opinion is valid, whether informed or not. Further, this is a social/political issue, not a technical one. Relevant "truths" are dependent on relevant values, and no two people have the same values.
For myself, I don't really have a problem with such high profits as long as the profits are used responsibly to enhance the oil supply. In that regard, how many new refineries have been built or started since Katrina? Are efforts being made to find more oil supplies? How about technology? I don't know. If the oil companies are making efforts in this regard then they are doing an abysmal job at communication this to the consumer. I don't believe they are simply because higher prices means higher profit.
The chairman of GM once said "What's good for GM is good for America." I do not believe the same can be said for Exxon/Mobil.
Total revenues for Exxon Mobil during the quarter were $99.03 billion. Run a little division problem and you come up with a 10.46% profit margin. Not the best out there. Most pharmaceutical and banking companies earned a higher profit margin.
The amount of profit earned is directly tied to the price of the product you are selling, and the market for that profit. All these higher profits mean is that the cost of Exxon Mobil's products (primarily petroleum-based products) has gone up along with demand.
During the quarter Exxon spent nearly $5 billion of this profit on capital projects and exploration for new sources of oil.
Another $7.9 billion was sent to shareholders in the form of dividends and share repurchases. These are people who own stock directly, as well as through pension funds such as those through the teachers unions.
The amount of profit earned is directly tied to the price of the product you are selling, and the market for that profit. All these higher profits mean is that the cost of Exxon Mobil's products (primarily petroleum-based products) has gone up along with demand.
During the quarter Exxon spent nearly $5 billion of this profit on capital projects and exploration for new sources of oil.
Another $7.9 billion was sent to shareholders in the form of dividends and share repurchases. These are people who own stock directly, as well as through pension funds such as those through the teachers unions.
Engine6 personally I believe you are wrong not every opinion is valid. If I can show factually that what a person is saying does not add up to the facts then I have invalidated that opinion. These are not relevant truths. Other guys have already posted the numbers. That is like saying 2+2=4 is a relevant truth. We know exactly what oil companies have made in profits and we know what their expenditures were. We know exactly how much money the fed and state governments are taking in taxes on gas. We know what the available supply is. We know what the demand from other major countries are. We know that we are not allowed to drill for our own oil and the people who keep us from doing this are known. Knowing all of this and then saying I don't care about any of that the oil companies should be (insert whatever you want to say) then that persons opinion is invalid and should be ignore.
If these oil companies were not in it for the profits then we would not be driving anyway. Because there would be no gas anyway. Or it would be state run and like every state run program gas would cost even more than it does now.
If these oil companies were not in it for the profits then we would not be driving anyway. Because there would be no gas anyway. Or it would be state run and like every state run program gas would cost even more than it does now.
Such are the limitations of having a complicated discussion on the internet. I think we are having a communication breakdown over the concept of a "valid opinion". I understand your meaning of a valid opinion as an opinion based on fact or sound logic. My point is that just because an opinion is not based on fact or sound logic does not mean that others (legislators) won't listen. Hence, all opinions are valid meaning all are entitled pursue thier beliefs, no matter how misinformed. That's why PETA still exists, for example. I might add that some of the most dangerous opinions come from the misinformed and the illogical, and they should not be ignored. Again, take PETA.
My comment regarding policy formation was made in response to your comments regarding opinions and outside of the discussion of the oil companies. I wasn't challenging anyone about anything with regard to the oil companies.
2+2=4 is not a relevant truth. 99.03 billion in profit is not subjective. 5.5 billion spent on capital projects is not a value based judgement (as long as Stu's numbers are right, and I'd be surprised if they are not). "We should drill in Alaska because oil costs too much" is a valid opinion for anyone who's ideology or ability to pay for fuel supports this position. "We should not drill in Alaska because it might harm the environment" is a valid opinion for an Eskimo, maybe. Such is the distinction I was making between technical solutions and social values. Just because we CAN drill in Alaska, does that mean we should drill in Alaska??? I don't know, I guess it depends on whether or not your an Eskimo.
My comment regarding policy formation was made in response to your comments regarding opinions and outside of the discussion of the oil companies. I wasn't challenging anyone about anything with regard to the oil companies.
2+2=4 is not a relevant truth. 99.03 billion in profit is not subjective. 5.5 billion spent on capital projects is not a value based judgement (as long as Stu's numbers are right, and I'd be surprised if they are not). "We should drill in Alaska because oil costs too much" is a valid opinion for anyone who's ideology or ability to pay for fuel supports this position. "We should not drill in Alaska because it might harm the environment" is a valid opinion for an Eskimo, maybe. Such is the distinction I was making between technical solutions and social values. Just because we CAN drill in Alaska, does that mean we should drill in Alaska??? I don't know, I guess it depends on whether or not your an Eskimo.
NM Leon
New member
Quote:
Just because we CAN drill in Alaska, does that mean we should drill in Alaska??? I don't know, I guess it depends on whether or not your an Eskimo.
Dang it all, like RagnCagn, I told myself not to get into it again, but this one hooked me.
Your points are valid ones Engine6, but let me throw a little oil onto the fire. /ubbthreads/images/graemlins/smile.gif
In this case, the Alaskans (including the natives I believe) are for the drilling in ANWAR. It's the southern 48 greens who have never been there, for the most part, that oppose it. Would that change the validity (or value) of their opinion in your mind?
You're right, legislators listen to the loudest voice whether or not that voice has reason and facts behind it.
In this particular case, the arguments against are largely coming from people who would not be directly affected, while the people that would possibly be affected negatively are supportive. Unfortunately the loudest voice often wins the argument. /ubbthreads/images/graemlins/confused1.gif
Just because we CAN drill in Alaska, does that mean we should drill in Alaska??? I don't know, I guess it depends on whether or not your an Eskimo.
Dang it all, like RagnCagn, I told myself not to get into it again, but this one hooked me.
Your points are valid ones Engine6, but let me throw a little oil onto the fire. /ubbthreads/images/graemlins/smile.gif
In this case, the Alaskans (including the natives I believe) are for the drilling in ANWAR. It's the southern 48 greens who have never been there, for the most part, that oppose it. Would that change the validity (or value) of their opinion in your mind?
You're right, legislators listen to the loudest voice whether or not that voice has reason and facts behind it.
In this particular case, the arguments against are largely coming from people who would not be directly affected, while the people that would possibly be affected negatively are supportive. Unfortunately the loudest voice often wins the argument. /ubbthreads/images/graemlins/confused1.gif
Jack Roberts
Moderator - Deceased
nmleon,
You nailed it. My daughter went to college in Fairbanks and most everybody in Alaska is very much in favor of making the most of what they have: oil, gas, gold, etc. It is the southern 48 greenies that are the problem.
Jack
You nailed it. My daughter went to college in Fairbanks and most everybody in Alaska is very much in favor of making the most of what they have: oil, gas, gold, etc. It is the southern 48 greenies that are the problem.
Jack
denjahn
New member
I don't think oil is expensive enough yet.When it gets to the point that it is more cost effective to produce a product locally and buy it locally than it is to make it with near slave labor in China and ship it 20000 miles to your strip mall of choice we will have a better economy.
Quote:
"We should drill in Alaska because oil costs too much" is a valid opinion for anyone who's ideology or ability to pay for fuel supports this position. "We should not drill in Alaska because it might harm the environment" is a valid opinion for an Eskimo, maybe. Such is the distinction I was making between technical solutions and social values. Just because we CAN drill in Alaska, does that mean we should drill in Alaska??? I don't know, I guess it depends on whether or not your an Eskimo.
Can you say "tongue in cheek"?
"We should drill in Alaska because oil costs too much" is a valid opinion for anyone who's ideology or ability to pay for fuel supports this position. "We should not drill in Alaska because it might harm the environment" is a valid opinion for an Eskimo, maybe. Such is the distinction I was making between technical solutions and social values. Just because we CAN drill in Alaska, does that mean we should drill in Alaska??? I don't know, I guess it depends on whether or not your an Eskimo.
Can you say "tongue in cheek"?
Rim_Runner
New member
Quote:
nmleon,
It is the southern 48 greenies that are the problem.
If we would have listened to those "Greenies" 30 years ago we would not be in this mess. It would also have taken the funding away from the people we are spending lives and billions of dollars to fight now. /ubbthreads/images/graemlins/smiliesmack.gif
nmleon,
It is the southern 48 greenies that are the problem.
If we would have listened to those "Greenies" 30 years ago we would not be in this mess. It would also have taken the funding away from the people we are spending lives and billions of dollars to fight now. /ubbthreads/images/graemlins/smiliesmack.gif