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Old 05-06-2012, 11:20 AM   #29
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There is a 83.2% chance you are right about that!
I believe you are 99.9% correct about the 83.2% chance regarding 50-50%. LOL
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Old 05-06-2012, 11:29 AM   #30
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I follow crude oil/pump prices pretty closely and it really disturbs me!

When the price of crude oil goes up you almost instantly see the price at the pump go up! Even though the gas you are pumping is gas already paid for in the storage tanks.

When the price goes down (as dramatic as it has) (105.00-98.49) you see 1-2 cents drop in the matter of a week or 2!

If anyone seems to think we are getting screwed with price fixing they are crazy! It's all about profits for these oil corps!

The price will come down about .50-.75 before the election as it always does then will go right back up after the election.
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Old 05-06-2012, 12:07 PM   #31
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The majority of the stations are privately owned. In my hometown I know that ExxonMobil does not own the 3 stations. I see exactly the same here--oil goes up and the price of gas goes up right after. The price of oil goes down, it takes a week for the gas to go down. So who is price fixing??????

If the oil companies would be doing that I am sure AG Holder in DC would jump on that chance to prosecute!!!!

The major oil companies own very few stations. Like when the BP spill was happening, people wanted to protest BP stations. It came out that most were privately owned and they were hurting private business owners. The only advantage to having a major brand name is that they are guaranteed a steady supply of gas.

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Old 05-06-2012, 12:33 PM   #32
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Fuel prices seem high, but if you put it in perpective with other things we buy, it's not too bad. 30 years ago if anyone told me we'd be buying bottles of water, when water fountains and taps had if 'free' I'd call you crazy. Cost out the price of a gallon of water bought in 12 -16 oz. bottles! Or how about a stadium beer? What would be the price per gallon? Movie theatre soft drinks? I used to have my students go home and read labels and calculate the cost per gallon of household liquids. Perfume and super glue were often over $1500 a gallon!
Printer ink cost more than Russian Caviar..
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Old 05-06-2012, 12:36 PM   #33
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Why is it that gas stations near freeway off ramps have the highest prices per gallon. Drive a few miles down the road and the price drop is very noticeable.

I'm just sayen...................
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Old 05-06-2012, 12:43 PM   #34
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Why is it that gas stations near freeway off ramps have the highest prices per gallon. Drive a few miles down the road and the price drop is very noticeable.

I'm just sayen...................
Because they can..
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Old 05-06-2012, 12:56 PM   #35
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Someone earlier was complaining about the price of fuel in Ca. We just got back from a trip to Ca and except for 1,one,station in Oregon, the best prices for diesel was in Ca.Of course,here in Wash,we have one of the highest gas taxes in the country and a diesel surcharge.
Just got a tank of heating oil and it was only$.05 a gallon cheaper than my last tank of diesel.
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Old 05-06-2012, 01:17 PM   #36
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Unspoken in this chat about gasoline and oil prices is the effect of monetary policy on the "price" in dollars, and what actually backs our "quantitatively eased" paper dollars.

When I was a kid, gas generally ran about 25 cents a gallon- paid for with a silver quarter (which is worth about $5.50 in silver today).

So is gas cheaper or more expensive than when we were younger?

Here's an interesting chart on gas prices, as paid for in gold. See what gas prices are doing if paid for with a "hard" currency?
So the question becomes- is gas actually more expensive, or are we just paying for it with paper dollars that are worth less and less?

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Old 05-06-2012, 01:28 PM   #37
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You don't see much in the media about profit margins...



Oil Company Income Versus Other Industries


The graphic shows the most recent data available on the profit margins of various major industries for 2011. During this period, the profit margin of U.S. oil and gas companies (6.7 cents per sales dollar) was below the average profit margin for all manufacturing industries (9.2 cents per sales dollar). Industry classes ranking well above oil and gas companies included beverages/tobacco, computers/peripherals and pharmaceuticals/medicines.
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Profit Dollars at Work

Oil company profits are used primarily for two purposes: to pay dividends to shareholders in the business and to pay for capital investments to find, produce, process and transport energy products to consumers. From time to time, oil companies also may use available cash to pay down debt and to buy back shares of their stock to help enhance its value for investors.

Shareholder Dividends. Millions of Americans own stock in oil companies either directly as shareholders, as owners of mutual fund shares or as participants in pension fund and other retirement accounts. Each year, dividends paid by oil companies put hundreds of millions of dollars into the hands of the public.
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Old 05-06-2012, 01:44 PM   #38
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That low profit margin must be the reason we find it necessary to subsidize oil companies with Billions of tax dollar even though they are the most profitable corporations in the world? It's hard for me to understand why oil companies should be on welfare? Of course, we don't want to burden them with pesky things like pay income taxes.

They of course the oil companies learned a lesson from Enron. They ship our oil out of the country creating a shortage here so that they can import and charge more money. A lot of Americans do own shares of Oil companies as the current tv ads are telling us. What they don't tell you is that very little of those huge profits actually trickles down to the stock holders.
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Old 05-06-2012, 02:52 PM   #39
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That low profit margin must be the reason we find it necessary to subsidize oil companies with Billions of tax dollar even though they are the most profitable corporations in the world?
[QUOTE=vegascouple;1168100]



I'm sure you know (but hate to believe) that energy companies don't get any subsidies, but only get the same tax write-offs that other manufacturing industries get, only the energy companies get less (6 cents for every 9 cents other manufacturing gets).

Its a cool talking point to say we "subsidize" the oil industry, but shucks- just isn't true. Too bad.

They ship our oil out of the country creating a shortage here so that they can import and charge more money.

The US oil companies ship diesel to Europe and import gasoline because that's how the refineries are situated. We produce more diesel than we can use- Europe produces more gasoline than they use. They ship here; we ship there. We can't build more gasoline refineries here because the EPA won't let us.

What they don't tell you is that very little of those huge profits actually trickles down to the stock holders.

What is it you believe- that oil company execs all have a big room full of money and jewels like Scrooge McDuck? Can you articulate where you think all these huge profits go?

Profits go to the owners of the company- and the owners of a publicly traded corporation are ..... wait for it.... the stockholders.

If you own a lot of stock, like pension funds and mutual funds do, you get a lot of dividends. If you own fewer shares, like me and you, you get less in dividends. Easy to understand, right?

But what you say IS true in one way- most of an energy company's profits are plowed back into research (into developing more efficient methods of extraction) and development of new energy sources (i.e., new wells and fields).

Just like a farmer has to plant a new crop when an old one is harvested, an energy company has to continually look for new sources, new wells, new fields and spend money on developing better and more efficient ways to extract the oil they are pumping now.

Its expensive and it all comes out of PROFITS. Profits come after costs and TAXES (and who pays the biggest percentage of corporate taxes in the USA? You got it- energy companies).

A guy who pushes a broom for an occasional living probably thinks that YOU make too much money- YOU get tax breaks he doesn't because you own a house. YOU make more money just because you went to college or spent years learning your trade. He dropped out of school and drank beer instead of learning to work, but he probably thinks its not fair, and you should not make so much money. You should pay your fair share in taxes (much more than he does, which is nothing because he makes minimum wage and receives food stamps).

Is he right? No.

Are you right about oil companies?
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Old 05-06-2012, 03:11 PM   #40
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[QUOTE=Senior Chief;1168153]
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Originally Posted by vegascouple View Post



I'm sure you know (but hate to believe) that energy companies don't get any subsidies, but only get the same tax write-offs that other manufacturing industries get, only the energy companies get less (6 cents for every 9 cents other manufacturing gets).

Its a cool talking point to say we "subsidize" the oil industry, but shucks- just isn't true. Too bad.

They ship our oil out of the country creating a shortage here so that they can import and charge more money.

The US oil companies ship diesel to Europe and import gasoline because that's how the refineries are situated. We produce more diesel than we can use- Europe produces more gasoline than they use. They ship here; we ship there. We can't build more gasoline refineries here because the EPA won't let us.

What they don't tell you is that very little of those huge profits actually trickles down to the stock holders.

What is it you believe- that oil company execs all have a big room full of money and jewels like Scrooge McDuck? Can you articulate where you think all these huge profits go?

Profits go to the owners of the company- and the owners of a publicly traded corporation are ..... wait for it.... the stockholders.

If you own a lot of stock, like pension funds and mutual funds do, you get a lot of dividends. If you own fewer shares, like me and you, you get less in dividends. Easy to understand, right?

But what you say IS true in one way- most of an energy company's profits are plowed back into research (into developing more efficient methods of extraction) and development of new energy sources (i.e., new wells and fields).

Just like a farmer has to plant a new crop when an old one is harvested, an energy company has to continually look for new sources, new wells, new fields and spend money on developing better and more efficient ways to extract the oil they are pumping now.

Its expensive and it all comes out of PROFITS. Profits come after costs and TAXES (and who pays the biggest percentage of corporate taxes in the USA? You got it- energy companies).

A guy who pushes a broom for an occasional living probably thinks that YOU make too much money- YOU get tax breaks he doesn't because you own a house. YOU make more money just because you went to college or spent years learning your trade. He dropped out of school and drank beer instead of learning to work, but he probably thinks its not fair, and you should not make so much money. You should pay your fair share in taxes (much more than he does, which is nothing because he makes minimum wage and receives food stamps).

Is he right? No.

Are you right about oil companies?
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Old 05-06-2012, 03:17 PM   #41
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I'm sure you know (but hate to believe) that energy companies don't get any subsidies, but only get the same tax write-offs that other manufacturing industries get, only the energy companies get less (6 cents for every 9 cents other manufacturing gets).

Its a cool talking point to say we "subsidize" the oil industry, but shucks- just isn't true. Too bad.
Excuse me? Depletion Allowance write-offs? It's a sizable tax break. They had an important role many decades ago, but no longer. I think your response is a little harsh, Chief.... but, you're not alone in this.
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Old 05-06-2012, 03:22 PM   #42
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Well said Senior Chief.

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