Record gas profits
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Road Warrior
Joined: Dec 2005
Posts: 1,644
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From: So-Cal
Record gas profits
So I am watching the news, and the lead story is the oil companies reporting their first quarter profits. Analysts say the 5 biggest oil companies will earn a combined profit of about 27 billion dollars -- that's right 27 BILLION -- for the first quarter. Second quarter profits will be even higher.
Exxon-Mobil 9 billion, British Petroleum 3.7 billion, Conoco-Phillps 5.3 billion.
I certainly understand that we all would like to make more money, and if we were making that kind of money we would have a big smile on our faces. So, I am wondering if we should be condemning the oil companies for chasing the American dream or at least part of it --making money? Should we make them give back to us because they have too much, or should we all invest in stock market and cash in on the rising prices? I sure hope my 401k has the oil stock in it.
I hate spending $3.50 for premium, but then again I can't really walk everywhere I go -- I work 30 miles from where I live. I guess we are caught over a barrell.
On a positive note, I ride my Deuce to work every week for about $15 a week. When I was driving, I was spending at least $60.
Stay safe
HTRAUD
Exxon-Mobil 9 billion, British Petroleum 3.7 billion, Conoco-Phillps 5.3 billion.
I certainly understand that we all would like to make more money, and if we were making that kind of money we would have a big smile on our faces. So, I am wondering if we should be condemning the oil companies for chasing the American dream or at least part of it --making money? Should we make them give back to us because they have too much, or should we all invest in stock market and cash in on the rising prices? I sure hope my 401k has the oil stock in it.
I hate spending $3.50 for premium, but then again I can't really walk everywhere I go -- I work 30 miles from where I live. I guess we are caught over a barrell.
On a positive note, I ride my Deuce to work every week for about $15 a week. When I was driving, I was spending at least $60.
Stay safe
HTRAUD
Cruiser
Joined: May 2005
Posts: 139
Likes: 1
RE: Record gas profits
They make a profit and it makes the front page, the years that they took it in the shorts, no one batted an eye.
Here's the economics of it all. When the price of oil is low, the oil companies buy oil and stockpile it. When the price goes up, they quit buying and tap into their stockpiles. The oil in their reserves is worth whatever the market rate is, it doesn't matter what they paid for it. They have to make a profit on it at this point because they will need to replenish their stockpiles at some point and it won't be at the price that they paid the first time. They use sound business practice to turn a profit and they are evil. If they managed to lose money in the same situation they would be criminals, literally. If you want communism, Cuba, China, North Korea and Vietnam are still there for you.
During all this we are still paying less for gas than pretty much anywhere else in the world. People have just been so spoiled with the stupidly cheap gas that getting closer to what the rest of the world pays while trying to fill up a SUV that would be illegal anyhwere else in the world gets them riled up. You drive the SUV, you should just shut up and pay your fine in the form of lots of expensive gas. I don't have a bit of sympathy for you. You are the ones burning all the gas and causing a lot of the pollution and then pointing the finger at motorcycles as something that needs tighter emissions controls. I have no patience or sympathy for hypocrites.
Here's the economics of it all. When the price of oil is low, the oil companies buy oil and stockpile it. When the price goes up, they quit buying and tap into their stockpiles. The oil in their reserves is worth whatever the market rate is, it doesn't matter what they paid for it. They have to make a profit on it at this point because they will need to replenish their stockpiles at some point and it won't be at the price that they paid the first time. They use sound business practice to turn a profit and they are evil. If they managed to lose money in the same situation they would be criminals, literally. If you want communism, Cuba, China, North Korea and Vietnam are still there for you.
During all this we are still paying less for gas than pretty much anywhere else in the world. People have just been so spoiled with the stupidly cheap gas that getting closer to what the rest of the world pays while trying to fill up a SUV that would be illegal anyhwere else in the world gets them riled up. You drive the SUV, you should just shut up and pay your fine in the form of lots of expensive gas. I don't have a bit of sympathy for you. You are the ones burning all the gas and causing a lot of the pollution and then pointing the finger at motorcycles as something that needs tighter emissions controls. I have no patience or sympathy for hypocrites.
Advanced
Joined: Mar 2006
Posts: 66
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From: Youngstown, Ohio
RE: Record gas profits
helotaxi - With the way you described the way the big oil companies buy the oil when it is cheap and stockpile it and then they make big profits when they sell it now in the form of gasoline...I can understand that. If that is the case, why would the price for a barrel of oil be high right now? It should be low because the big oil companies are using their reserves right now and would be buying less on the market and that should drive the price of oil down. I am just trying to understand all of this.
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Road Warrior
Joined: Dec 2005
Posts: 1,644
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From: So-Cal
RE: Record gas profits
The price of oil is being run up on speculation. Afterall, it is a commodity traded daily in markets around the world. What chaps my hide is how the price at the pump jumps around 2 cents 4 cents, then 10 cents etc. I have seen two increases in one day. What's up with that?
As far as the folks who drive the big SUVs, I say screw'em. They deserve to pay $78/tank!
HTRAUD
As far as the folks who drive the big SUVs, I say screw'em. They deserve to pay $78/tank!
HTRAUD
Tourer
Joined: Apr 2006
Posts: 401
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From:
RE: Record gas profits
The Chinese are buying oil faster than they can pump it out of the ground. It's our own fault for sending all of our manufacturing over there for decades. 1 billion Chinamen want to buy cars now from the profits we gave them. Did you see on the news a Hooters opened in China??? It cost me $15.50 to fill up my FLST. It wasn't that long ago I could fill up my Chevy Silverado for that amount of money
Road Captain
Joined: Aug 2005
Posts: 584
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RE: Record gas profits
No, No the real money makers are, anyone, anyone.........Bueler.......
The phucking local state and federal taxes on your skyhigh gas prices, dont hear anyone talking about that, it usually ranges from 25-35%, you dont hear the DEMS or the REPS talking about that little fact. But they sure want a piece of the oil companys dont they, and my personal favorite is "lets tax the crap outta the oil companies" OH that will solve the problem, then the phucking government can run away with more cash that you or I will never see again and the gas prices will still be high, Thanks Uncle Sam your the best. [sm=chairshot.gif]
The phucking local state and federal taxes on your skyhigh gas prices, dont hear anyone talking about that, it usually ranges from 25-35%, you dont hear the DEMS or the REPS talking about that little fact. But they sure want a piece of the oil companys dont they, and my personal favorite is "lets tax the crap outta the oil companies" OH that will solve the problem, then the phucking government can run away with more cash that you or I will never see again and the gas prices will still be high, Thanks Uncle Sam your the best. [sm=chairshot.gif]
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Tourer
Joined: Apr 2006
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RE: Record gas profits
No taxes on fuel = very bumpy road to ride your harley on.
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Road Captain
Joined: Aug 2005
Posts: 584
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RE: Record gas profits
Oh I fully understand where the fuel taxes go, my paycheck comes from federal highway funds, but when it comes to targeting the rise of fuel prices and looking for a temporary cost cutting measure, instead of saying "hey these guys are making to much money" in a free market society, maybe uncle sam could ease up on the taxes until the market can catch up and lower prices. But all of that is just a temp fix, what I think really needs to happen is a full on PIMP Bitch slap on the EPA and drilling where we can and new super refineries, while still persuing more efficient methods of transportation.
Tourer
Joined: Apr 2006
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RE: Record gas profits
"while still persuing more efficient methods of transportation"? I think everyone on this forum is doing their part by riding a motorcycle. If everyone rode a motorcycle we could end all of this oil shortage BS