Jim H SW-PA
Member
Some possible better news.
http://kdka.com/topstories/oil.prices.drop.2.880557.html
http://kdka.com/topstories/oil.prices.drop.2.880557.html
- Thread starter Jim H SW-PA
- Start date
MarkB_MI
Well-known Member
- Location
- Motown USA
I was listening to NPR yesterday and they were interviewing the president of Valero Energy. (Valero owns most the refinery capacity in the US, in case you've never heard of them.) He said that at current gas and crude oil prices, they are actually losing money on every gallon of gasoline they produce. Diesel and jet fuel is still profitable.
Right now, a little price stability would be nice.
Right now, a little price stability would be nice.
Brian Jasper co. Ia
Well-known Member
Loosing money on every gallon of gas? I guess I'm one of the "Show Me" guys. But then again, NPR is not what I'd call a reliable source of info.
The average return on investment for business is 8.9% Oil companies average is 8.7%.
How do you define that as "record" profits?
Last quarter one of the oil companies made about $1400.00 a second and it was screamed from the rooftops how evil they were. Nowhere did you hear that in the same quarter they collected taxes for governmemts at the rate of $4500.00 a second,or that their operating costs were $11,500.00 a second.
How do you define that as "record" profits?
Last quarter one of the oil companies made about $1400.00 a second and it was screamed from the rooftops how evil they were. Nowhere did you hear that in the same quarter they collected taxes for governmemts at the rate of $4500.00 a second,or that their operating costs were $11,500.00 a second.
MarkB_MI
Well-known Member
- Location
- Motown USA
Hey Brian, so you're saying there's a conspiracy between the tofu-eating liberals at NPR and Big Oil? Wow, I would have never guessed it.
I'm only telling you what the man said on a national news program. Whether or not it is true I can't say.
I'm only telling you what the man said on a national news program. Whether or not it is true I can't say.
Anonymous-0
Well-known Member
The oil company record profits are in total dollars-not percentages.Oil companies make just under 10% profit.One of the large local factories told their workers this week that their profits are running close to 18-20% for the year.
Oil needs to stay around $50-60.There is heavy oil being pumped in this area and it takes $50 to break even so they may soon shut down.$60 oil means $1,75 fuel and we can all afford that.We were paying $1.25 in the 1980's.When fuel gets too cheap no new oil fields will be developed and alternative energy plans get scrapped.
Oil needs to stay around $50-60.There is heavy oil being pumped in this area and it takes $50 to break even so they may soon shut down.$60 oil means $1,75 fuel and we can all afford that.We were paying $1.25 in the 1980's.When fuel gets too cheap no new oil fields will be developed and alternative energy plans get scrapped.
Dave from MN
Well-known Member
I expect gas will go nutts again when things turn around. I also am pretty sure the oil companies will be looking to recoup what they feel they should be making right now. I am still prebuying as much as I can because I figure we WILL see $5 gas within 2 years. Be it market prices or tax increases. What shocked me this fall is how much my electric went up, we reduced usage and our bill still increased.
flying belgian
Well-known Member
I thought it was against the law to sell anything below the cost of production. But I never could figure that one out.
Steven f/AZ
Well-known Member
I guess all farmers should be in jail, then.
$2 fuel is reasonable in my opinion. It makes extra oil exploration feasible, along with some alternative energy research...
Brian Jasper co. Ia
Well-known Member
When you start considering Al Gore and his carbon credits, one has to question what is reality and what is pure B.S. NPR absolutely pushes the nnalert agenda. nnalert are against energy independence. nnalert are the party of higher taxes. They're going to make up some B.S. story why gas needs to be higher priced. How much farther do I need to go?
Anonymous-0
Well-known Member
High priced oil did wreck the economy,just took a while for the fools to realize what was happening.750 small stores closed in Maine in 07.4 dollar hay forced people to sell horses and quit raising a few calves for home freezer beef.Over priced houses and crooked lending practices added to the problem.We were facing 5.00 fuel oil prices this winter.This made a lot of people switch to wood pellets.Looks like US auto makers will go broke and fail to repay loans.You aint seen the worst of it.When an item loses demand prices fall.Jobs lost mean people are not going to work,burning gasoline.No loan money to buy new cars will hit the car makers hard.
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