It is nice to know that someone is making money off of the out of control gas prices.

I am seeing gas prices at $2.35 a gallon. To me it looks like a sweet deal until you see what we were paying this time last year.

It is nice to know that someone is making money off of the out of control gas prices.

I am seeing gas prices at $2.35 a gallon. To me it looks like a sweet deal until you see what we were paying this time last year.

Gas in my area as of this morning is down to $2.17 per gallon.

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.

The rack to retail margins on gasoline has been anywhere between $.06 to $.30 a gallon. It only got to $.30 cents quickly and went right back down.

Retail profit is not that high but it should be at least $.15 if not higher.

The EPA and CARB are requiring gas stations to perform upgrades constantly which costs money. A viscious cycle yes but they need to make money to spend money.

I have to agree 100% with Hummertech on this one. This morning gas around here was $2.69 and that is about as low as it has been in some time. The oil companies have a lot of expenses to cover just to run the operation let alone recouping the investments to get the oil. I know from first hand experience how expensive it is to drill and you never really know if there is going to be anything there. It is a high risk business and they may make a profit this year but could lose their asses next year.

Lets not forget to add that the Exxon/Mobil plant to Houston was shut down for a week or 2. I was talking with some oil companies 2 weeks ago they might not get 100% allocations but rather 60%. Can you imagine going to get your oil changed and the guy tells you sorry, where out of your oil.

Our local gas company has even sent out letters to large (Commercial) accounts tell them they can not guarentee that their gas wont be shut off due to insufficent supply. So if you think oil is bad gas is much worse.

<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by Spike:
Gas in my area as of this morning is down to $2.17 per gallon. </div></BLOCKQUOTE>

Looks like I need to go to whereabouts unknown

<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Looks like I need to go to whereabouts unknown
</div></BLOCKQUOTE>S. Jersey

<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by sfox:
<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by 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. </div></BLOCKQUOTE>

1: Everything is higher in Europe...who cares...

2: Actually only a fairly moderate portion of the price of gas is taxes. An even smaller portion goes to the franchise owners...the rest/bulk goes in Exxon's pocket.

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>

I agree!!! The 9.9 billion is profit. It is already taking all of their expenses and so-called risk of drilling out of the figure. They are making billions, while there are a lot of people who are afraid to drive anywhere or turn their heaters on this winter. If you look on MSNBC there is an article about oil companies trying not to focus on big profit. It makes me sick. What the hell else are we supposed to focus on?

We're still at $2.75 here in the northwest... What's also said is the diesel prices haven't budged from $3.16.

<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by Spike:
<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Looks like I need to go to whereabouts unknown
</div></BLOCKQUOTE>S. Jersey </div></BLOCKQUOTE>

nevermind

$2.44 here.

<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

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


As to consumer control of the market, gas is not something that most people can choose an alternative for. I can't charge whatever the hell I want for my house and expect to sell it, Oil can sell for just about any price they want and people have NO CHOICE but to buy it. We are as dependant on big oil as we are on water, and the sources for that oil are so few that capitalism DOES NOT impact big oil. People can conserve a bit, but folks still need it to simply live their lives on a daily basis. Big oil knows this and stuck it to the American economy when it could least absorb the hit...that sir is disgusting. Do I favor the Gov interjecting itself? No, but when you have something so essential to our economy so out of control, then it is time to step in and stop the screw job that was/is going on.

S </div></BLOCKQUOTE>

If we are going to bash exxon/mobil or any oil company for charging "what they want" could we please throw in the 2 biggest monopolizing industries into the mix.

Cable and GAS.

Oil has alternatives. Cable and Gas do not. If I HAVE to heat my home with gas I can only buy it from one sourse. If I want High speed internet I have on choice. If I need to fill up my car with Gasoline, I have many choices.

sfox I find it amazing that you are the only one that REALLY understands that gas is gas. In most places it really does come all the same refinieries.

However some stations due pay less than others. Walmart probably does pay less per gallon than a guy across the street that only has one station.

The biggest problem that Exxon/Mobil has is not that they made that much money but rather that they told people they made that much money. It is ok to report it but don't cry about high costs and report high profit. Buy someone or spend the money or ****.