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Flying Duck
PsyKotic Waterfowl
Joined: 27 Jan 2005
Posts: 10102
Location: Bumf***, WA
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 Posted: Sun Jun 22, 2008 12:35 pm Post subject: "Big Oil" |
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| Quote: | | Obviously with Bush trying for one more money grab for his big oil cronies, the price of gas will never be lower than 4$ a gallon. |
"Big Oil" makes roughly an 8% profit. Compare that to other industries. Oil prices are being driven up by market speculation and increased demand from China and India.
And take a look at who owns big oil. They're publicly traded companies with many shares owned by individual investors, mutuals funds, 401ks, IRAs, union pension funds, etc....
Do you think gas would be cheaper if it were run by "Small Oil" - lacking economies of scale in transportation and refining?
You should learn something about economics and the oil industry beyond what you've read on bumper stickers..
Buy a 49cc moped and run regular. That way you can rob the evil oil barons(and their shareholders) of their excessive 8% profits. 
_________________
93 LT (x2)
94 RS
86-97 K75F(K75/100/1100 Frankenbrick)
86 K75C w/paralever, hi perf cams,TURBO!
91 & 92 K75Ss
91 K1
86 custom K100
14 WR250R
IBA #17739 (SS1K, BBG, 50CC)
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Off the grid
Chaotic Good
Joined: 05 Jul 2006
Posts: 3414
Location: At the local taco truck waiting for Jo.
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| Posted: Sun Jun 22, 2008 2:41 pm Post subject: |
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| Quote: | High gas prices may have cinched American consumers’ wallets in 2007, but they loaded the coffers of the big five oil companies: BP, Chevron, Conoco Phillips, ExxonMobil, and Shell. ExxonMobil, after record high profits in 2005 and 2006, smashed the record for highest profits ever made by a public U.S. company—previously held by Exxon—by posting a net profit of $40.6 billion in 2007.
To put these figures in perspective, Exxon’s $40.6 billion profit in 2007 is roughly equal to receiving “$30 for every person in China and $132 for every U.S. resident.” Another way of looking at it is that Exxon made $77,245 per minute in 2007—that’s more money generated per minute than 70 percent of Americans earned all year, according to the Census Bureau.
Shell also had a record breaking year. Its $31.3 billion 2007 profit set a new company record, and was 23 percent higher than its $25.4 billion profit in 2006. Analysts believe that higher crude oil prices are responsible for the company’s success. Chevron also matched its prediction of positive gains with $18.7 billion profit, primarily due to high gasoline prices at the pump. ConocoPhillips made $11.9 billion, its third best year since 2001. And its fourth quarter 2007 revenues exceeded last year’s fourth quarter by more than $1.2 billion, due partly to high energy prices. BP had a turbulent year, posting a gain of $20.8 billion in net profits. However, their fourth quarter earnings rose 22 percent from last year’s fourth quarter, mostly due to high oil and gasoline prices.
High oil prices are to big oil company profits what steroids are to home run records—number inflators. It costs oil companies less than $10 per barrel to extract and ship a barrel of oil. The “finding” costs to explore and develop an oil field range from $5 per barrel in the Middle East to $67 per barrel off of the U.S. coast. These are production costs. So when the market price jumps due to speculators, political unrest, supply disruption, or other similar events, it is a windfall for the oil company.
If the current high gas prices stay steady, big oil will surely see more gigantic profits in 2008. The price of oil is up by $45 per barrel—or 80 percent—from a year ago. The price of gasoline is 81 cents—or 38 percent—higher than this time last year. Families are now shelling out $60 or more per refill, while on a national scale, households that rely on home heating oil will pay about $551 more this winter.
What’s more, the Department of Energy expects the monthly average gasoline prices to peak “near $3.50 per gallon this spring.” This would easily beat the inflation-adjusted record of $3.23 from March 1981 ($1.42 in 1981). Breaking this record would continue to flood the coffers of big oil with money from hard-working Americans.
Rhetorically, President Bush acknowledges that the United States needs to reduce its oil dependence, which would decrease demand, lower pressure on prices, and reduce profits. During his State of the Union address last week, Bush advocated for a “new generation of clean energy technology,” since “our security, our prosperity, and our environment all require reducing our dependence on oil.”
Yet in reality, the president is protecting oil company profits at the public’s expense. In December 2007, he threatened to veto the entire energy bill because of its tax package, even though it included incentives for “a new generation of clean energy technology” that he extolled one month later in the State of the Union address. The reason for the veto threat? The energy tax package would have closed tax breaks for big oil that are worth slightly more than $1 billion annually.
The big five oil companies made over $123 billion in net profits in 2007; the closed loopholes would be less than one percent of their 2007 profits.
President Bush said that he opposed tax breaks for big oil companies in 2005: “I will tell you with $55 oil we don’t need incentives to oil and gas companies to explore.” Yet when oil was selling for $90 per barrel this fall, he forced Congress to drop tax incentives for clean alternatives because they would have been paid for with elimination of relatively small tax breaks for big oil.
There is still time for President Bush to put clean energy alternatives ahead of big oil’s enormous profits. On February 6th, the Senate failed by one vote to extend incentives for constructing renewable energy plants powered by wind and geothermal energy, as well as individual and business use of solar energy as part of the economic stimulus package. Efforts to extend these incentives will continue. Without an extension of these measures, the economy could lose up to 116,000 jobs.
President Bush should also support tax proposals stripped from the Energy Independence and Security Act, which would spur investments in cellulosic and other biofuels, advance research into carbon capture and storage, and encourage consumers to purchase plug in hybrid vehicles. These steps would be a welcome change from an administration that values big oil company profits above all else. |
Now it's ok if you think "Big Oil" is just a regular company trying to survive like the rest of the country, but the actual number say otherwise.
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Bane of your existence since July 2006
2007 Triumph Tiger ABS. "Sabertooth"
2009 Husqvarna TE610. "The dirty Italian mistress"
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Flying Duck
PsyKotic Waterfowl
Joined: 27 Jan 2005
Posts: 10102
Location: Bumf***, WA
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| Posted: Sun Jun 22, 2008 9:35 pm Post subject: |
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It's pretty sad when you have to rely on posting stats like this to prove your point:
| Quote: | | $30 for every person in China |
Who kind of fucking economic metric is that? 
Like I said, if you don't like it, buy a fucking moped. Ride your bike. Take the bus. If all of the whiny people like you actually CARED you'd alter your behavior and REDUCE DEMAND.
The marketplace determines the price. And you're half of the supply/demand equation. You can't escape that FACT. You can bitch all you want but YOUR behavhior is part of the equation. If you think the price is too high then BUY LESS. It's how our system works.
And, as noted, the profits don't just go to the boogeyman labeled big oil. They go to people who hold shares in those companies - everything from IRAs to mutual funds to union pension funds. You can pretend that it's all obscene profit goiing to "Bush's big oil cronies" but that's simply not the case.
And just wait until Obama gets elected, if he does. Premature withdrawal from Iraq and the ME instability it causes will put oil through the friggin' roof! Get your wallet out.
_________________
93 LT (x2)
94 RS
86-97 K75F(K75/100/1100 Frankenbrick)
86 K75C w/paralever, hi perf cams,TURBO!
91 & 92 K75Ss
91 K1
86 custom K100
14 WR250R
IBA #17739 (SS1K, BBG, 50CC)
Buy parts HERE |
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Off the grid
Chaotic Good
Joined: 05 Jul 2006
Posts: 3414
Location: At the local taco truck waiting for Jo.
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| Posted: Sun Jun 22, 2008 10:09 pm Post subject: |
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It amazes me that you outright defend an industry that is buttslamming you.
Do you work for the oil companies?
Spin it any way you like, higher oil prices mean HUGE profits for the oil industry. The chart is accurate.
Keep in mind that 1 BILLION dollars equals 9 HUNDRED and 99 MILLION dollars+.
Spin it any way you like, we are being robbed. There is no good reason why a company has to make a profit greater than most countries GNP. Don't even get me started on the salary of their CEOs and the like.
Seriously, I'm not even going to bother debating the facts.
Lets just agree to disagree.
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Bane of your existence since July 2006
2007 Triumph Tiger ABS. "Sabertooth"
2009 Husqvarna TE610. "The dirty Italian mistress"
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jpberens1994K1100RS
Flying Brick Rider
Joined: 06 Apr 2008
Posts: 784
Location: Hales Corners, WI. / Relocating to central FL.
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| Posted: Mon Jun 23, 2008 7:47 am Post subject: Oil $ |
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It's supply & demand / speculation.
You don't like the price of gas, don't buy it. Damn tough when our entire support system is based on cheap fuel for transportation. Add our suburban sprawl issues which given the scope of land in the US & how far some people have to drive for a job accentuates this & the list goes on & on.
Many large countries & some smaller pay a LOT more than we do for gas
Ride your motorcycle everywhere you can, ride a bicycle if and when you can, walk when it fits. Every little bit helps.
Gas / oil will not be cheaper ANY time soon. It will take a major economic collapse or an alternative energy source devolpment before any significant
downward move is made.
Some alternatives are more frightening than others, be ready any way you can.
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1993 K1100RS that I'd rather be riding FAST!
2014 Moto Guzzi Norge |
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rydor
Flying Brick Rider
Joined: 16 Nov 2006
Posts: 1304
Location: Southern Illinois, U.S.A.
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| Posted: Mon Jun 23, 2008 3:14 pm Post subject: |
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| Glad I have my K to ride 10 months out of the year... |
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Roy S.
Flying Brick Rider
Joined: 05 Mar 2008
Posts: 1349
Location: W. Sacramento, California
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| Posted: Mon Jun 23, 2008 6:33 pm Post subject: |
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Don't light a match in here 
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1993 K1100LT/On going project
1990 K75rt
1991 K75s
LURKER at LARGE |
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SugarHillCTD
Site Admin
Joined: 10 Oct 2007
Posts: 4238
Location: Now in Eastern Pennsylvania
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| Posted: Mon Jun 23, 2008 6:38 pm Post subject: |
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| rydor wrote: | | Glad I have my K to ride 10 months out of the year... |
I'm trying to figure out if I can buy a UJM dual purpose bike and fully stud the tires to get thru a New hampshire winter (most days). I figure that I can only hope for maybe 8 months of K-bike use each year.
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John & Cathy
'92 K100RS4V Pearl White SOLD
'04 K1200GT
IBA Several-SS1k, BBG, 50CC NYC to S.F. |
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Scott_Anderson
Site Admin
Joined: 05 Sep 2006
Posts: 3122
Location: Central Iowa, USA
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| Posted: Mon Jun 23, 2008 7:42 pm Post subject: |
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| SugarHillCTD wrote: | | rydor wrote: | | Glad I have my K to ride 10 months out of the year... |
I'm trying to figure out if I can buy a UJM dual purpose bike and fully stud the tires to get thru a New hampshire winter (most days). I figure that I can only hope for maybe 8 months of K-bike use each year. |
I'm hoping for 8 months as well!
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Ride safe.
1995 K1100LT 0302044
2017 FLHTK Ultra Limited
Garmin StreetPilot 2820
Garmin Zumo 550
Garmin Zumo XT
"One who does not ask questions is ashamed to learn" Danish proverb
1997 K1100LT 0302488(R.I.P.)
1997 R1100RT ZC62149(sold) |
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Klinker
Flying Brick Rider
Joined: 28 Aug 2006
Posts: 876
Location: SD I-90
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| Posted: Tue Jun 24, 2008 8:05 pm Post subject: |
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| Flying Duck wrote: | | ...blah, blah, blah...And just wait until Obama gets elected, if he does. Premature withdrawal from Iraq and...blah, blah, blah |
Heh, heh, heh. He said "premature withdrawal." Heh, heh, heh...
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tlp
1994 K1100RS
Only the Reasonists. They believe in an evidence-based world, something called Rationalism. But it's a tiny group, not so influential.
- Page Griffin |
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abreeze
Flying Brick Rider
Joined: 17 Jun 2006
Posts: 671
Location: atlanta
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| Posted: Tue Jun 24, 2008 9:02 pm Post subject: |
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| Quote: | Heh, heh, heh. He said "premature withdrawal." Heh, heh, heh...
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Awesome....
I own my own bussiness and dont find a thing wrong with PROFIT....Thats why I work.
You can go online and get the Financials from Oil companies, they ony net about %10.....Thats not a lot in bussiness profits. The sheer number is stagering, but hey everybody and there mother uses petro......
I wish I had something everyone wanted!! I be Stupid Rich and buy everyone here a gift!! |
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hockeyshifter
Flying Brick Rider
Joined: 01 Jan 2006
Posts: 177
Location: harpers ferry WVa.
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| Posted: Fri Jul 04, 2008 10:42 pm Post subject: |
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well if you look a litter deeper about two years ago ftc allow exxon/minnion to purchase another refinery that give them over 54% control in that sector of BIG OIL.
i think it now clear the past policies of the last 5 election cycles has brought us to were we are now.
we as a forum must tell this do nothing congress to go stick it up thier arses and remind our elected officals that we voted you in and we can vote you out.
www.consource.org read the founding documents and tell them they work for the citizens of the US. NOT SPECIAL INTREST
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fix the problem not the blame ; fix what is messed up ; NO one is to blame. |
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