Truck Stop stops selling fuel

[Rick & Hope]

The owner of an Arkansas truck stop has stopped pumping diesel and gas, saying he's protesting prices along with truckers. Don Shamsie's Blackwell Truck Stop is on Interstate 40 about 30 miles north of Little Rock.

"We felt we needed to take a stand,"� "We know that the independent truckers out there are barely making it; they're struggling to survive. A lot of them cannot park their trucks because they've got to get their revenue going."�

Shamsie added: "We've taken a stand to stop selling fuel to see if we can get the attention of the politicians who we felt have sold Americans out."�

Shamsie said he thinks most politicians are in the pocket of the oil companies that contribute to their campaigns.

As for how he'll survive without pumping fuel, Shamsie pointed out that at the price he's been paying for fuel and for credit card transactions he wasn't making money anyway.

[Rick & Hope]

The owner of an Arkansas truck stop has stopped pumping diesel and gas, saying he's protesting prices along with truckers. Don Shamsie's Blackwell Truck Stop is on Interstate 40 about 30 miles north of Little Rock.

"We felt we needed to take a stand,"� "We know that the independent truckers out there are barely making it; they're struggling to survive. A lot of them cannot park their trucks because they've got to get their revenue going."�

Shamsie added: "We've taken a stand to stop selling fuel to see if we can get the attention of the politicians who we felt have sold Americans out."�

Shamsie said he thinks most politicians are in the pocket of the oil companies that contribute to their campaigns.

As for how he'll survive without pumping fuel, Shamsie pointed out that at the price he's been paying for fuel and for credit card transactions he wasn't making money anyway.

[read & learn]

It is really amazing how no one is making money on the selling of fuel.
How much did the oil refiners lose last year.OH sorry Exxon/Mobil made 40 billion and that is after R & D.
The suppliers OPEC only sell it for $30 a barrel, OPP's forgot the other $100.
It's time for the user's to catch a break.
Tired of hearing no one is making money.

[Gary RVRoamer]

The big money is being made taking oil out of the ground at $130/barrel. Not much profit margin in the rest of the business. Exxon/Mobil still owns a lot of oil wells, so they are making big bucks on that end. Refiners like Sunoco who have to buy crude oil on the open market are being hurt on prices just like you and me.

With crude oil selling at $130 for a 42 gallon barrel ($3.10/gal), nobody is going to get any price relief soon. If ever.

[DonavonP]

Please let us know when he files bankruptcy (AGAIN!!!!!) Fuel prices this bankruptcy. Global warming for the
next one.

[RustyJC]

<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by read & learn:
How much did the oil refiners lose last year.OH sorry Exxon/Mobil made 40 billion and that is after R & D. </div></BLOCKQUOTE>
To quote Paul Harvey - and now for the rest of the story:

ExxonMobil

Full Year 2007 Revenue - $404.5B
Full Year 2007 Earnings - $40.6B
Full year 2007 Profit Margin - 10.04%

Lots of industries are more profitable than 10.04% profit margins. Actually, higher feedstock (crude oil and natural gas) prices are squeezing refining margins - ConocoPhillips had a profit margin of 7.46% for 1Q08.

Rusty

[afrank1971]

<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Lots of industries are more profitable than 10.04% profit margins. Actually, higher feedstock (crude oil and natural gas) prices are squeezing refining margins - ConocoPhillips had a profit margin of 7.46% for 1Q08. </div></BLOCKQUOTE>

I love it! I try not to think about it too much, but it's true, all you hear on the news is $40 BILLION!! Oh man, the oil companies are raking it in! Nobody talks about what that amount of money represents compared to their overall revenue. 10% is a perfectly reasonable profit margin, if not a bit low! I'm happy at 10% in my business, but we often do quite a bit better.

[read & learn]

XOM has 5.2B outstanding shares. Your right the stockholders got only a little over $1.45 per share a year Dividend
Royal Dutch [Shell] $2.96
Chevron $2.39
BP $2.92
XOM $1.45 or 1.76%
When you think about it, I make more money from my savings account at 1.75%, because it is compounded.

[Tom N]

<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by read & learn:
It is really amazing how no one is making money on the selling of fuel.
How much did the oil refiners lose last year.OH sorry Exxon/Mobil made 40 billion and that is after R & D.
The suppliers OPEC only sell it for $30 a barrel, OPP's forgot the other $100.
It's time for the user's to catch a break.
Tired of hearing no one is making money. </div></BLOCKQUOTE>

read & learn;

Read this and learn and these are easily verifiable facts.

It's true that as crude prices have surged, so have profits for the companies that produce the stuff. Exxon Mobil last week posted a $10.9 billion profit for the latest quarter "” the second-biggest U.S. quarterly corporate profit ever. $11 billion for three months' work? Isn't that a little much?

Let's start with drugs. There are eight major drug makers in the Standard & Poor's 500; collectively they made $36.2 billion over the past 12 months on revenues of $237.2 billion. That means they pocketed about 15 cents of every dollar's worth of product sold. Not bad.

How about software? The seven big companies in the sector (including Microsoft) took in $92.3 billion in revenues and earned $23.6 billion in profits, or about 25 cents on every dollar.

Banking? Despite their problems with subprime loans, the eight big "money center"� banks in the S&P 500 took in profits of $41.3 billion on revenues of $267.3 billion, about 15 cents on the dollar.

Now let's look at the three oil majors in the S&P 500. In the last 12 months, ExxonMobil, Chevron and ConocoPhillips took in $833.7 billion in revenues but reported profits of $71.8 billion. That works out to about 8.6 cents of profit for every dollar's worth of crude.

Refiners fared even worse. They sold $293.6 billion worth of gasoline and other fuels and made $11.9 billion in profits, or about 4 cents on the dollar.

-Tom

[Glenn and Kathy]

I have worked for 2 of the largest companies in the US. In both cases if their profit ever got down to 15% let alone go below that, they were all over everybody because of poor returns. 15% is not a large profit when you have a lot of stockholders out there.

Glenn

[read & learn]

Tom M
After my first post, a few of the posts stated that the Oil companies were not making that much money.
All I did was look up how much the stockholders were getting as a return on their stock investment. When you do that the % of return is less than you can get for simple interest.
As you have pointed out, the return is not as great when you break it down.
I know many of our pensions are dependent on the profits of corporations, mine included, but I am tired of hearing "our profits are only up 20/30/40% over last year."
Joe

[Ray,IN]

Run a search for oil pricing, using the Dogpile search engine. You will receive about 5 pages of very interesting reading. Today the summation is; since the UK and U.S. are cracking down on oil speculators, oil prices are expected to peak by early 2009 then retreat. There was an excellent article from the Wall Street Journal.
Yesterday I read this Newsweek articleprediciting $200 @ bbl oil within 24 mos. What's one to believe?

[Baby Bear]

I wouldn't believe Newsweek, or Time magazine, if they told me they use black ink on white paper!