Exxon/Mobil $9.9 billion profit for the quarter!!!

[TootsSUT]

[H3OwnerDiz]

My 2cents worth of rookie suspicions are:

1. Jim Cantore (AE) recently received the power.
2. The Canuck lied to your face in Moab.

That is all.

[PARAGON]

<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by HUMMERDOGG:
Price is merely a reflection of supply/demand balances regardless what anyone says. </div></BLOCKQUOTE>Dogg, respectfully this is simply not true. When the price at the pump can be raised due to the fear of future "production" disruption, this is not being controlled by supply/demand.

When Opec can artificially control the price/barrell by lowering production, that does not follow typical supply/demand. World supply has not magically jump 100% in 4 years yet prices at the pump have, with nothing but "fear" from the war as the reason for the increase.

Any other business that saw a 100% increase in retail cost in such a short period due to supply/demand would have experience a shortfall in product available, which would cause the increase. We have had no gas shortages. Even when Katrina hit there were no shortages due to supply. The only shortages created were due to lack of electricity to fill the trucks so they could get to the stations. The facility here in MS had enough to continue it's normal supply for nearly a month without any additional refining. This why the release of strategic petroleum reserves was just not a big deal and would have very little effect.

Speaking of 4 years ago. That was after all of the mega-mergers of the oil companies took place. The industry was found to have been price fixing even then by cutting refining production and holding back delivery of produced fuels to get prices higher. Again, in 4 years demand has not increased 100%, supply and prices are being controlled by the fewer larger, merged oil companies just like OPEC can control the price for a barrel of crude. In the US, though, we have anti-trust laws to supposedly guard against this.

Whether collusion is occuring amongst the major oil companies (I wouldn't be surprised) is one thing, but price-fixing is definitely occuring and it is totally and completely outside the parameters of common supply/demand.

[TootsSUT]

<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by Hummertech:
If you don't like high gas prices than pay attention to who you vote for. A certain political party would love to have the mojority of Americans use mass transit. I think you know who I'm talking about. The same political party that cried about drilling for oil in the middle of nowhere in Alaska. The party that tries to stop any new oil refineries from being built. </div></BLOCKQUOTE>

x2!!

[ratesguy]

Interesting discussion but some points are off the mark. No new refineries have been built since 1079. Capacity in refineries has had to be reconfigured almost yearly to account for Federal and State environmental requirements as to what can be in your gasoline(there are currently 14 different gasoline formula requirements). This results in some refining capacity being underutilized in some parts of the country when demand is not there. The republicans have introduced a bill to provide incentives to build new refineries but there is some question whether oil producers can supply more oil to be refined. As for natural gas, LNG could be a major factor in increasing supply as domestic production is in decline. Opening new areas for exploration must be done or prices are only going to go higher without more supply or a very healthy cut in demand. Also all oil companies contract for supply on a long term basis with the price generally tied to a market price, so when the price goes up on the market the contract price also goes up. Same pricing mechanism all the way to the retail outlet. The only protection for large swings in prices are financial hedges, which is what Southwest has used to stay profitable. Just some ramblings on a complicated issue.

[Bondage]

<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by PARAGON:
Exxon/Mobil by itself receives about $25 Billion in US Government subsidies every year.

Those of you who do not think something is wrong with the current fuel situation are going to wake up to severely higher prices for everything else you buy a few years down the road. Everything you buy has to be transported and the over-inflated diesel fuel prices currently seen is killing shipping.

When fuel prices can rise $0.15 because there is the possibility of a hurricane but there is no market correction, especially as quickly, then you have something that lives outside the typical ideals of supply and demand.

Why does everyone complain about OPEC price fixing, when it's apparent the major oil companies do the same thing, but somehow some of you don't feel this is the case. </div></BLOCKQUOTE>


I don't complain about OPEC - it's their damn oil! That's why we should drill here at home, let them shove their crude up a camel's a$$, and see what kinda mileage they get outta that!

Sean

[PARAGON]

<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by Hummertech:
After all, if we're going to continue this damn thread any longer, let's at least change the subject and start arguing about something else. </div></BLOCKQUOTE>Ok, pick something.

[Bondage]

<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">3: No matter HOW you slice it, 9.9 billion in PROFIT is disgusting considering what the country has been enduring over the past year. These companies have profiteered on the back of national disaters to an unprecedented extent and if the current administration doesn't take some action, we may end up with a Democrat controlled government sooner than later....

S </div></BLOCKQUOTE>

Just out of curiosity, when did high profits become "disgusting" in a Capitalist country? What business are you in? Do you not want to make maximum profits? When you sold your last house, did you not charge the maximum that the market would bear? Were you gouging? After all, there is a shortage of affordable housing in the US today. Should the government have stepped in and forced you to sell your house for less?

We've gotta be careful here. We've gotta be consistent and intellectually honest. Are we Capitalists or are we not? Do we, as consumers, have any right to dictate, through our government, retail prices to a business? If we decide we do, watch out. The legislators will take that permission and run with it - and we ALL will suffer, no matter what business we are in.

Just my 2 cents - which is all I have left after filling my rig this morning...

Sean

[ree]

Some people are just upset because they're missing out on the profits. You want some of it? Buy stock or invest in sector funds.

That said, it is a little hard to understand complaining about getting hit hard when you're making these kinds of profits. "Oh damn, we're only going to profit 9.9 billion instead of 10.9 billion this quarter!"

Perhaps some of the appearance, though, is the media's fault. It'd be interesting to see the number of stories where a gas company exec was complaining about being hit hard compared to the number of stories where the media was just saying that the industry was getting hit hard. Perhaps we have yet another media inspired biased story for more government regulation. Anyone got some stats?

[TootsSUT]

Missed that last post of yours, Bond! You'll do what tonight????

Maybe you and Drty should go to the movies together. You seem to be getting along quite well together!

[DennisAJC]

This thread still running?

[Hummertech]

Before we go out of control bashing the oil companies we should keep 3 things in mind.
1. Our gas is much, much cheaper than anywhere in Europe.
2. A large part of the price of gas is taxes by the Government, and that tax money is pure profit for the government.
3. When you compare the amount of money spent by the oil companies compared to their profits, they actually make a little bit less than other large companies of that size in other industries.

[Hart1]

<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Dickhead, we're not talking about the housing market. Paragon is dead on with this: </div></BLOCKQUOTE>

Wow, your comprehension is just amazing. You stuck on Stupid too?

The point being, is that we don't complain about the "profiteering" in other businesses when it might benefit us. Think on this for awhile, you may just "get it".

At any rate, Capitalism is a two way street.

When gas prices are "low" we are the recipient of market forces at that time, which we do not mind. Now that the market forces are not to our liking, some cry, only wanting it "one way"

Notwithstanding, this was not my quote, this was the quote from Doug Bandow, who is a "Senior Fellow at the Cato Institute and a former Special Assistant to President Ronald Reagan."

No offense, but when all is said and done, your "views" just don't hold water, dickhead.

[PARAGON]

<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by Hummertech:
Well this thread has it all. Money, politics, Hummers, football, sarcasm. I think the only thing missing is women. </div></BLOCKQUOTE>JENNIFER?????? Here's your cue!

[PARAGON]

<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by Bondage:
<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by PARAGON:
<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by Bondage:
<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by Jennifer:
</div></BLOCKQUOTE>

Pad. Pad. Pad. Pad. Pad whore.

Sean

ps - glad to hear you are feeling better. I was afraid you'd cough up a testicle or something......

Does my infatuation with Jennifer make me gay? </div></BLOCKQUOTE>Did you ever confirm her..... ummmm... his.... well.... shim's orientation? </div></BLOCKQUOTE>


I am laughing so hard right now there are tears in my eyes. Okay, here's the deal....he/she may or not be a dood - but if he/she IS a dood, he/she is a good enough female impersonator to make me gay. He/she was far too much of a lady for me to go sticking my hand down his/her pants, and I am too much of a gentleman. All I can say is this - and Jen, are you listening?....I'd really like to solve the mystery.

Sean </div></BLOCKQUOTE>Ok, Jen. For the sake of the entire forum.... members all over this entire world. When is this mystery going to be solved?

[DRTYFN]

<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by FreeorDie2:
Adapt? Define your terms. This whole thing started because I disagreed with the vast oil company conspiracy theory. If adapt means cowtowing to a select few, then forget it. If it means a poster can call me an F'ing idiot for posting my opinion, and I have to say, "Yes Sir, may I have another, Sir," then forget it.
You call me an F'ing idiot, expect to be told to kiss my ass. You want to argue about the right or wrong of something, or how to do this or that, or whether to chrome or not to chrome, that's great and I'm happy to occassionaly particapate. I wasn't looking for trouble, just pointing out basic economics. I'm still not looking for trouble, but I won't run away from it either.

And by the way, if you call this "e-wrasslin'", then you should understand that hitting back isn't an ******* attitude. . .it's self defense. </div></BLOCKQUOTE>

No where did I say anything about cow-towing. I was merely suggesting that you not throw such a hissy fit when attempting to state your opinion. You sounded like a hyper-ventilating little bitch and it wasn't becoming of someone that potentially stands up to urinate. But if you're a LIEBERAL and voted for Kerry then it's understandable.

[Hart1]

<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">If someone wrote it, you must believe it. </div></BLOCKQUOTE>

Using your logic, then, we must not believe anything you write...Hell, you got my vote!

[PARAGON]

<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by h2co-pilot:
<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by Jennifer:
By the way, what movie are we seeing?? </div></BLOCKQUOTE>

The Crying Game </div></BLOCKQUOTE>

[CO Hummer]

The G23 is my overall favorite gun. But I really like my little PM9 too.

Now what's this thread about?

[h2co-pilot]

AW! This is sooooo cute!