Oil Surges above $85/barrel
10-21-2007 | 04:27 AM
#61
Gets Weekends Off
Joined: Jul 2007
Posts: 4,772
Likes: 1
From: 744 CA
For the latest full year i could find ....using Exxon as the example, they posted profits of 39 BILLION on sales of nearly 380 BILLION.... those are both enormous numbers, but when you look at it as a return on revenue..its just barely over 10%.... or 10cents on the dollar. In the MID 80's when oil had tanked as was selling for 12 dollars a barrel and the oil industry was laying people off by the tens of thousands..and summarily hurting the economy of texas and other states...... I DIDNT see people saying... damn the oil companies are in crisis lets pay MORE for gasoline to help them out.... its a business and as much as I dont like it they should be allowed to make a profit unconstrained.
10-21-2007 | 10:24 AM
#62
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Joined: Jun 2007
Posts: 932
Likes: 77
From: 73N
You are all right... we should have to endure the high price of oil to the point where it destorys many instusties in America. The government should let the oil companies hold out till the cost of oil becomes unbearable... at least they will be serving a small percentage of the US public, after all it is the piece of the population that funds their campaigns.
10-21-2007 | 10:30 AM
#63
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Joined: Jun 2007
Posts: 932
Likes: 77
From: 73N
By the way, maybe we (pilots) should all take pay cuts, cause we are asking too much and these airline CEOs and owners have the right to make thier money too... its just business right. If we are good employees we would be happy to make just enough to get by, or at least fill our cars with gas. Hopefully the government will protect the owners of these airlines and thier entitled profits. After all, thats what they deserve, right?
10-21-2007 | 10:34 AM
#64
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Joined: Jun 2007
Posts: 932
Likes: 77
From: 73N
Satchip, you are correct. Elb14 apparently has a very limited knowledge of global economics and the oil supply chain as well as the composition of our government. Last time I checked, both the Houses of Congress were controlled by the democrats but then it's just easier to say that oil prices are high because we have an oil man in the Whitehouse. Too funny.
10-21-2007 | 12:31 PM
#65
Nice lookin' tree, there!
Joined: Sep 2006
Posts: 2,242
Likes: 14
From: Tool-Box, old man
Oil surged above $85 a barrel today.
http://biz.yahoo.com/ap/071015/oil_prices.html
Since I have made this prediction, oil dropped below $60 a barrel only once...for about one month's time period. It will never go back. High oil prices are here to stay.
Time to start buying hybrid cars. Time to stop investing in that ethanol fuel crap, and time to start investing in true renewable energy (solar, wind, hydro, but especially solar) and batteries capable of storing enough charge to power an automobile at a decent range at a decent speed.
http://biz.yahoo.com/ap/071015/oil_prices.html
Since I have made this prediction, oil dropped below $60 a barrel only once...for about one month's time period. It will never go back. High oil prices are here to stay.
Time to start buying hybrid cars. Time to stop investing in that ethanol fuel crap, and time to start investing in true renewable energy (solar, wind, hydro, but especially solar) and batteries capable of storing enough charge to power an automobile at a decent range at a decent speed.
fbh
10-22-2007 | 12:32 AM
#66
Gets Weekends Off
Joined: Jun 2005
Posts: 384
Likes: 0
From: B737, Capt.
Interesting that such an intelligent person such as yourself would resort to an insult instead of a valid counterpoint. Its not republican/democrat issue, its a government control on big business issue. The fact that our president was in the oil business just makes the connection that much easier to make for those of you in the dark, but some people just like the shade I guess.
10-22-2007 | 04:51 AM
#67
Feeling blessed.
Joined: Feb 2005
Posts: 571
Likes: 9
From: Happily coasting in the left seat until it ends.
Read "The Age of Oil: The Mythology....." L. Maugeri. It covers all of the topics covered here.
http://www.amazon.com/Age-Oil-Mythol...3056968&sr=1-1
The 7 largest oil companies in the world control less than 10% of crude reserves. The rest is controlled by governments worldwide.
http://www.amazon.com/Age-Oil-Mythol...3056968&sr=1-1
The 7 largest oil companies in the world control less than 10% of crude reserves. The rest is controlled by governments worldwide.
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