But crude oil has not gone up 66 percent since January.

So someone's making insane profits at 3 dollars a gallon.

--
Charles of Schaumburg

"n5hsr" <n5hsr (AT) comcast (DOT) net> wrote

This press release indicates who is making the money:

http://home.businesswire.com/portal/...ewID=news_view

Jeff, ExxonMobil owner (I own about 0.000001% of the company)

Charlie
"Jeff" <news (AT) googlemail (DOT) com> wrote

So I was right. Johnny Rockefeller is laughing at us from whatever Hell he
is in now. Exxon/Mobil is the primary successor to Standard Oil these days.

Charles of Schaumburg

"n5hsr" <n5hsr (AT) comcast (DOT) net> wrote



Gas prices always sky rocket in the summer... and yeah, ofcourse companies
are making insane profits.. they should be allowed to adjust gas to supply
and demand like any other company.. In fact I wouldnt mind if gas prices
went up to 5 dollars a gallon!

"Go Mavs" <GoMavz (AT) GoMavz (DOT) com> wrote

You call these profits "insane." Just what kind of profits do you think oil
companies should be allowed to make? How do you figure this out?

How should their profits be compared to companies like utilities, which
often have their rates regulated by the government?

Of course, I am not enjoying my profit from my shares of ExxonMobil at this
time.

Jeff

You are correct. The entity that makes the most off of every gallon of
gasoline YOU buy is YOUR state, at an average of 34c, way more than anybody
else! Number two is the feds at 18.5c. The oil companies around 10c and
the station operator around 7c. For the station operator that is 2c more
than they earned when the price was 23c a gallon, in the late fifties..
Station operators will tell you many times, when they get a tank truck load
of fuel, it costs them more than the GROSS price at which the sold the
previous tank load.

mike

"n5hsr" <n5hsr (AT) comcast (DOT) net> wrote

"Jeff" <news (AT) googlemail (DOT) com> wrote


I say let them adjust them to what they will.. If people dont want to pay it
then they can take public transportation... or walk. My father walked 3
miles to school and back every day when he was growing up. I walked a mile
because the bus wouldnt pick us up. Now some people may live more than that
but more the reason to car pool..

Hell maybe higher gas prices will force people to spend more time with their
family...

"Jeff" <news (AT) googlemail (DOT) com> wrote

OK, I presume they were making it ok when gas was 2 dollars a gallon and
crude was where it was.

So you own a piece of the heritage of Johnny Rockefeller, eh?

Gas distributors fix the price at which their retail outlets may sell for
the most part, and this has been true since at least 1991 and probably a lot
longer.

Example: The day BEFORE Saddam Hussein attacked Kuwait in 1990, all the
gasoline retail outlets in the area of Arkansas I was living in, who were,
at that time, selling for 86.9 were told that they HAD TO raise their price
to 99.9 immediately or they would not receive ANY more shipments by their
distributor.

I do not buy Exxon/Mobil specifically because it seems to be the leader of
what used to be called The 7 Sisters and heir to Johnny Rockefeller's
Standard Oil. They are usually the first ones to go up.

I do not buy Citgo because Chavez says our money is evil so he can surely do
without mine.

I do not buy Royal Dutch Shell anymore since I found they help put Hitler in
power in 1933-34. Besides that, I've never had a car that liked it. Any
car I've tried any grade of Shell in bucked like an old Model T on Wild Bob.

Now who knows what Wild Bob is besides me?

Charles of Schaumburg

"Go Mavs" <GoMavz (AT) GoMavz (DOT) com> wrote

In much of the country, there is no mass transportation, and never will be.
And, many jobs require the use of a vehicle.

"n5hsr" <n5hsr (AT) comcast (DOT) net> wrote


You have to ask a question of what is or isnt price gouging. Gas prices of
86 cents a gallon are as gone as the days when a bottle of coke was 25
cents. Inflation has rissen and despite record profits these gas companies
are still pumping money back into several departments. It isnt a net profit
gain.

With that said, oil is not a infinite source. Even if they lowered it to 86
cents again (with 6 billion people on the earth) it would not last long.

Higher gas prices are beneficial to oil conservation...