Gasoline price - where would it end up at this summer?

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  • mightymouse
    mightymouse Posts: 254
    edited April 2008
    Net profits have already accounted for expenses.

    Net profits is how much a company rakes in AFTER all the expenses have been deducted.

    petrym wrote: »
    Okay, where in the (biased) article did it mention expenses? It didn't, I bet you a dollar and a doughnut they had record expenses too.
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  • petrym
    petrym Posts: 1,912
    edited April 2008
    mrmusicman wrote: »
    Ansewer= Because the fu%King oil companys own them:mad:

    Becuase the greenies and Congress keep turning them down!
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  • mightymouse
    mightymouse Posts: 254
    edited April 2008
    Or, look at it another way, the oil companies want to keep the supply tight so they can jack up the price of gas even more.


    petrym wrote: »
    Becuase the greenies and Congress keep turning them down!
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  • heiney9
    heiney9 Posts: 25,204
    edited April 2008
    mightymouse wrote: »
    Right now I am spending almost twice as much on groceries as I used to.

    But the point is, how come Exxon made record profits last year with these soaring gas prices? Is Exxon artificially jacking up the price of gas more than it is justified (i.e. out of proportion to the actual increase in crude oil price).

    There is a huge difference between profit and net profit. Profit is represented by the number of $$$ of sales. Net profit is what you make after you cover ALL your expenses. Go back and re-read MacLeods post. If your cost doubles and your profit doubles (you have just made a record profit) but your net profit is EXACTLY the same.

    A company can make 1billion dollars of profit in 2007 and 10billion dollars of profit in 2008 and still have a negative net profit (meaning they lost money) in 2008.

    The net profit is the number that matters not the profit number at the end of the day.
    "Appreciation of audio is a completely subjective human experience. Measurements can provide a measure of insight, but are no substitute for human judgment. Why are we looking to reduce a subjective experience to objective criteria anyway? The subtleties of music and audio reproduction are for those who appreciate it. Differentiation by numbers is for those who do not".--Nelson Pass Pass Labs XA25 | EE Avant Pre | EE Mini Max Supreme DAC | MIT Shotgun S1 | Pangea AC14SE MKII | Legend L600 | BlueSound Node 3 - Tubes add soul!
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  • heiney9
    heiney9 Posts: 25,204
    edited April 2008
    mightymouse wrote: »
    Or, look at it another way, the oil companies want to keep the supply tight so they can jack up the price of gas even more.

    By and large oil companies don't control the supply; atleast not enough to really affect the price of gas too much. OPEC has the most power to control supply which then affects the price of CRUDE oil.
    "Appreciation of audio is a completely subjective human experience. Measurements can provide a measure of insight, but are no substitute for human judgment. Why are we looking to reduce a subjective experience to objective criteria anyway? The subtleties of music and audio reproduction are for those who appreciate it. Differentiation by numbers is for those who do not".--Nelson Pass Pass Labs XA25 | EE Avant Pre | EE Mini Max Supreme DAC | MIT Shotgun S1 | Pangea AC14SE MKII | Legend L600 | BlueSound Node 3 - Tubes add soul!
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  • mightymouse
    mightymouse Posts: 254
    edited April 2008
    Okay, I googled again. Exxon's net profit was about $41 billion for 2007. I guess it doesn't look as bad as $100 billion. My bad.

    heiney9 wrote: »
    There is a huge difference between profit and net profit. Profit is represented by the number of $$$ of sales. Net profit is what you make after you cover ALL your expenses. Go back and re-read MacLeods post. If your cost doubles and your profit doubles (you have just made a record profit) but your net profit is EXACTLY the same.

    A company can make 1billion dollars of profit in 2007 and 10billion dollars of profit in 2008 and still have a negative net profit (meaning they lost money) in 2008.

    The net profit is the number that matters not the profit number at the end of the day.
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  • [Deleted User]
    [Deleted User] Posts: 1,394
    edited April 2008
    If my memory does not serve me wrong, recently there was a meeting between the legislatures and the big guys from the petroleum companies. In the United States, we do have oil reserves, a very large amount, very very large actually. Not many new facilities have been built by the petro companies is correct, but also, 85% (give or take a few) of the U.S oil is untouchable. I do no intend to start up a topic on this, but I do believe this situation is getting out of control. It is almost like a monopoly market, and prices are not based on just demand and supply anymore. We are in a society that needs transportation (automotive) and with that, we must commute to and from work, hence, even if price goes up, consumers will still have to buy. Because, the average consumer can not give up the jobs they currently have. I am one, among the millions of others. Scooters, 150 cc, 95 mpg, if we all went to this... FxxK the petro companies!!! Prices go up when a worker is sick, or a part needs to be repaired or something happens in Africa!! What the hell does that have to do with oil prices!!??? Anyhow, that is my input, and YES, regular unleaded is going to break 4 dollars a gallon. Tomorrow, the avg price of 87 octane gas will go up 7 more cents!!
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  • MacLeod
    MacLeod Posts: 14,358
    edited April 2008
    The oil companies are all for drilling in ANWR, off the coast of California and in the Gulf of Mexico. Theyre trying their best to get drilling started but the stinking hippies and the Democrats in Congress along with some chicken **** Republicans that stop them time after time after time. Take all 3 worthless Presidential candidates for instance. All 3 of them swear by the global warming hoax and spew out drivel like conservation and alternate energy sources and refuse to even talk about drilling for more oil.

    Dont get me wrong, Im all for conservation to a point and technology and human innovation will eventually come up with alternative energy but until that happens, why not use the oil we've got now?! It enrages me to no end why they dont get this. Demand is thru the roof and supply is stagnant - so naturally price is thru the roof but we've got more supply than we can shake a stick at but we REFUSE TO GO GET IT!! Instead we blame Exxon. It makes me grit my teeth!
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  • dpowell
    dpowell Posts: 3,068
    edited April 2008
    fossy wrote: »
    I work for a grocery chain here in texas & the food prices are increasing daily.And believe you me, our customers let us know about it. H9 said it right-- the dollar has declined in value drastically.

    Went to the grocery last night and was shocked to see that the cost for a jar of applesauce my son likes to eat has gone up from $2.49 a few months ago to $3.85. Time to plant a garden.....
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  • mightymouse
    mightymouse Posts: 254
    edited April 2008
    Have you seen the prices of tomatoes lately? If this keeps up, I've been seriously thinking about planting some tomatoes in my back yard. Oh wait, I live in an apartment. With gas prices going through the roof, I don't see how it is possible for me to save up enough to even buy a house to cut down my grocery bills...

    dpowell wrote: »
    Went to the grocery last night and was shocked to see that the cost for a jar of applesauce my son likes to eat has gone up from $2.49 a few months ago to $3.85. Time to plant a garden.....
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  • dpowell
    dpowell Posts: 3,068
    edited April 2008
    Are we headed this way?:eek:;)
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  • mightymouse
    mightymouse Posts: 254
    edited April 2008
    When gas prices reach $40/gallon, life as we know it may very well turn out to be like that. Whoever made those Mad Max movies were very prophetic.

    dpowell wrote: »
    Are we headed this way?:eek:;)
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  • venomclan
    venomclan Posts: 2,467
    edited April 2008
    mightymouse wrote: »
    When gas prices reach $40/gallon, life as we know it may very well turn out to be like that. Whoever made those Mad Max movies were very prophetic.

    They were cool action movies, but watching them now, I wonder why they used up all that gas chasing down others for their gas. They would have saved more by just not driving :D

    Besides, I do not think driving 600 hp turbine/jet powered vehicles with fuel that scarce makes much sense. Today's version of The Road Warrior would be some skinny geek guys pulling up in a Prius...not going to sell many film tickets.
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  • mightymouse
    mightymouse Posts: 254
    edited April 2008
    This is hilarious!:D


    venomclan wrote: »
    Today's version of The Road Warrior would be some skinny geek guys pulling up in a Prius...not going to sell many film tickets.
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