F... gas prices

[SolidSnake84]

The Obama gas task force is going to do the same job as the Obama everything else. It wont do shit, and the american people will be left feeling the pain.

Seriously though, the government can't do jack shit about the price of gas.

[Slingin Sammy 33]

Originally Posted by SolidSnake84

The Obama gas task force is going to do the same job as the Obama everything else. It wont do shit, and the american people will be left feeling the pain.

Seriously though, the government can't do jack shit about the price of gas.

Actually it can, by permitting or declining requests to increase domestic production.

[Alvin Walton]

$4.17 now here in west Michigan.
This economy is so fecked up its ridiculous.

[MTK]

Let's hope this is the case

Gas prices rise slower, may have peaked - CNN.com

[Monkeydad]

Originally Posted by Mattyk

Let's hope this is the case

Gas prices rise slower, may have peaked - CNN.com

With SS33's article a few posts above, I don't see how it's possible.

[Monkeydad]

They Government IS intervening, they've applied a drilling moratorium and are giving billions to South American nations to help them drill there. Just because they're not intervening with our interests in mind doesn't mean they're ignoring the issue.

[SirClintonPortis]

For all the "speculation", the oil companies' profit margins are not spectacularly high.

[Chico23231]

Exxon Mobil's first-quarter profit surges 69% to $10.7 billion due to higher oil and natural gas prices.

Glad to see the oil companies profitting in these tough times

[SirClintonPortis]

Originally Posted by Chico23231

Exxon Mobil's first-quarter profit surges 69% to $10.7 billion due to higher oil and natural gas prices.

Glad to see the oil companies profitting in these tough times

That's because people keep on buying oil products, and that number will only increase. After all, gas is not the only product derived from oil. I wouldn't expect their profits per capital to actually be that high. They have customers from all over the world buying their products.


FYI
These reported profits actually are what's left over after paying all the "bills"(taxes, wages, interest). The technical term is "net profits".

Net Profits actually only go to two places:
1. Retained earnings to reinvest in the company. Buy new equipment, do R&D, etc
2. Stockholders via dividends.

Now, whether or not they are actually doling all of the profits for either task is a different matter.

[Chico23231]

Originally Posted by SirClintonPortis

That's because people keep on buying oil products, and that number will only increase. After all, gas is not the only product derived from oil. I wouldn't expect their profits per capital to actually be that high. They have customers from all over the world buying their products.


FYI
These reported profits actually are what's left over after paying all the "bills"(taxes, wages, interest). The technical term is "net profits".

Net Profits actually only go to two places:
1. Retained earnings to reinvest in the company. Buy new equipment, do R&D, etc
2. Stockholders via dividends.

Now, whether or not they are actually doling all of the profits for either task is a different matter.

sure, but a 10 billion quarter is pretty damn solid

[SirClintonPortis]

Originally Posted by Chico23231

sure, but a 10 billion quarter is pretty damn solid

Impressive, yes, if we solely look at the magnitude. But if we consider that their total revenues --how much they get BEFORE deducting expenses-- are 100 billion, one can certainly see that how much they keep for themselves(the net profit) is quite a low percentage to how much they doled out(total revenue). Hence their margin(net profit divided by net revenue) is actually only around 9-10%

Got my numbers from here:
http://www.nytimes.com/2011/02/01/business/01oil.html

[Slingin Sammy 33]

Originally Posted by SirClintonPortis

Impressive, yes, if we solely look at the magnitude. But if we consider that their total revenues --how much they get BEFORE deducting expenses-- are 100 billion, one can certainly see that how much they keep for themselves(the net profit) is quite a low percentage to how much they doled out(total revenue). Hence their margin(net profit divided by net revenue) is actually only around 9-10%

Got my numbers from here:
http://www.nytimes.com/2011/02/01/business/01oil.html

Agreed. Here's some more numbers that show a 7.7 - 8.8% range of profit. All while taking major financial risk.

Financial Statements for Exxon Mobil Corporation - Google Finance

To those who like to kick and scream about oil company profits, shall we discuss how the fed/states/localities benefit for taxation of a gallon of gas? Not to mention taxes on the oil companies revenue.

Motor Fuel Taxes

[Monkeydad]

$4.10 now!

[Monkeydad]

Originally Posted by Monkeydad

$4.10 now!

Damn! Jumped over a nickel overnight...$4.16 this morning.

I better fill up now, before it goes up any more. Have to drive to Long Island in a few days, better get it while it is "cheap".

[Riggo44]

$4.20 in CA. It cost me over a $100.00 to fill my tank!