Oil Prices tumble - $105/barrel & dropping
05-05-2011, 11:51 AM
#11
On Reserve
Thread Starter
Joined APC: Jul 2008
Position: MSP7ERB
Posts: 1,886
Wall Street Journal says the tumble is due to higher than anticipated jobless claims:
Energy Sector Leads Stocks Lower - WSJ.com
Energy Sector Leads Stocks Lower - WSJ.com
05-05-2011, 02:23 PM
#13
Line Holder
Joined APC: Apr 2011
Position: Thumbing it
Posts: 33
Originally Posted by Elvis90
Oil Prices Tumble Below $107
Crude Drops On Signs of Weak Fuel Demand - WSJ.com
Is this due in part to the death of bin Laden, or simply higher inventories & the end of speculation?
Crude Drops On Signs of Weak Fuel Demand - WSJ.com
Is this due in part to the death of bin Laden, or simply higher inventories & the end of speculation?
I'm not a math wiz, but:
WASHINGTON (February 3, 2011) – Nearly $1 trillion – that’s the total profit earned by the top five multi-national oil companies over the first decade of the new millennium. $36.5 billion – that’s the total in tax subsidies the American public will provide to the oil industry over the next decade. $53 billion – that’s the value that oil companies could receive from not paying royalties on some Gulf of Mexico production over the next 25 years. And 1916 – the oldest tax subsidy the oil companies still utilize.
Unrest in the middle east doesn't explain the above paragraph. Nor the taxation the America public faces. Even if they took a 59% hit on oil price dropping, they're still ahead.
To many people hungry for the ALL MIGHTY DOLLAR. Get away from the oil...find cheaper means. (think I opened pandora's box)
05-05-2011, 02:52 PM
#14
On Reserve
Thread Starter
Joined APC: Jul 2008
Position: MSP7ERB
Posts: 1,886
Synthetic Fuels may be the way to go for aviation. The Air Force is studying it:
Air Force jets perform first flyover using alternative fuel
The US has a HUGE amount of coal, oil shale, natural gas & biomass:
Synthetic fuel - Wikipedia, the free encyclopedia
Maybe US energy markets will see the value in this. If we actually get a President and Congress that are serious about weaning the US off foreign oil, maybe we can make this happen.
Air Force jets perform first flyover using alternative fuel
The US has a HUGE amount of coal, oil shale, natural gas & biomass:
Synthetic fuel - Wikipedia, the free encyclopedia
Maybe US energy markets will see the value in this. If we actually get a President and Congress that are serious about weaning the US off foreign oil, maybe we can make this happen.
05-05-2011, 03:05 PM
#15
Gets Weekends Off
Joined APC: Feb 2007
Position: FO
Posts: 3,032
Originally Posted by Biglewi1
I'm not a math wiz, but:
WASHINGTON (February 3, 2011) – Nearly $1 trillion – that’s the total profit earned by the top five multi-national oil companies over the first decade of the new millennium. $36.5 billion – that’s the total in tax subsidies the American public will provide to the oil industry over the next decade. $53 billion – that’s the value that oil companies could receive from not paying royalties on some Gulf of Mexico production over the next 25 years. And 1916 – the oldest tax subsidy the oil companies still utilize.
Unrest in the middle east doesn't explain the above paragraph. Nor the taxation the America public faces. Even if they took a 59% hit on oil price dropping, they're still ahead.
To many people hungry for the ALL MIGHTY DOLLAR. Get away from the oil...find cheaper means. (think I opened pandora's box)
WASHINGTON (February 3, 2011) – Nearly $1 trillion – that’s the total profit earned by the top five multi-national oil companies over the first decade of the new millennium. $36.5 billion – that’s the total in tax subsidies the American public will provide to the oil industry over the next decade. $53 billion – that’s the value that oil companies could receive from not paying royalties on some Gulf of Mexico production over the next 25 years. And 1916 – the oldest tax subsidy the oil companies still utilize.
Unrest in the middle east doesn't explain the above paragraph. Nor the taxation the America public faces. Even if they took a 59% hit on oil price dropping, they're still ahead.
To many people hungry for the ALL MIGHTY DOLLAR. Get away from the oil...find cheaper means. (think I opened pandora's box)
The Metals Exchange hiked margins causing a sell off. They are also going to increase them again soon. It requires the purchaser to provide higher down payment in order to purchase on margin. (purchase with borrowed money, which is cheap as the interest rate is near zip) It will require much more capital risk to investors and helps stabilize the price.
05-05-2011, 03:23 PM
#16
With The Resistance
Joined APC: Jan 2006
Position: Burning the Agitprop of the Apparat
Posts: 6,191
Originally Posted by Biglewi1
I'm not a math wiz, but:
WASHINGTON (February 3, 2011) – Nearly $1 trillion – that’s the total profit earned by the top five multi-national oil companies over the first decade of the new millennium. $36.5 billion – that’s the total in tax subsidies the American public will provide to the oil industry over the next decade. $53 billion – that’s the value that oil companies could receive from not paying royalties on some Gulf of Mexico production over the next 25 years. And 1916 – the oldest tax subsidy the oil companies still utilize.
Unrest in the middle east doesn't explain the above paragraph. Nor the taxation the America public faces. Even if they took a 59% hit on oil price dropping, they're still ahead.
To many people hungry for the ALL MIGHTY DOLLAR. Get away from the oil...find cheaper means. (think I opened pandora's box)
WASHINGTON (February 3, 2011) – Nearly $1 trillion – that’s the total profit earned by the top five multi-national oil companies over the first decade of the new millennium. $36.5 billion – that’s the total in tax subsidies the American public will provide to the oil industry over the next decade. $53 billion – that’s the value that oil companies could receive from not paying royalties on some Gulf of Mexico production over the next 25 years. And 1916 – the oldest tax subsidy the oil companies still utilize.
Unrest in the middle east doesn't explain the above paragraph. Nor the taxation the America public faces. Even if they took a 59% hit on oil price dropping, they're still ahead.
To many people hungry for the ALL MIGHTY DOLLAR. Get away from the oil...find cheaper means. (think I opened pandora's box)
Do the math on taxes paid by the top five oil companies and taxes collected at the pump and it far exceeds any "subsidies"(which are just tax breaks).
The fact is that all corporate taxes are paid by the consumer, want to tax more? You are going to pay more.
Oil companies net about 8.5-10% profit, hardly "far ahead" on the scale of profit margins in the corporate world.
Your math is clearly skewed.
Find cheaper energy than oil, which everyone is trying to do, and you will soon be rich and famous. Unfortunately, it is unlikely you will be able to do this in the near term.
05-05-2011, 03:26 PM
#17
With The Resistance
Joined APC: Jan 2006
Position: Burning the Agitprop of the Apparat
Posts: 6,191
Originally Posted by f16jetmech
now how long before we see these prices at the pump? I think that aspect is a joke. When oil was 145+ a barrel gas was 4 bucks a gallon... oil 2-3 days ago @ 112 a barrel, gas in 4 bucks a gallon. I dont get it. And you cant say inflation, that was only 2 years ago.
This is not just about oil supply.
05-05-2011, 03:28 PM
#18
Line Holder
Joined APC: Apr 2011
Position: Thumbing it
Posts: 33
Originally Posted by jungle
Do the math on taxes paid by the top five oil companies and taxes collected at the pump and it far exceeds any "subsidies"(which are just tax breaks).
The fact is that all corporate taxes are paid by the consumer, want to tax more? You are going to pay more.
Oil companies net about 8.5-10% profit, hardly "far ahead" on the scale of profit margins in the corporate world.
Your math is clearly skewed.
The fact is that all corporate taxes are paid by the consumer, want to tax more? You are going to pay more.
Oil companies net about 8.5-10% profit, hardly "far ahead" on the scale of profit margins in the corporate world.
Your math is clearly skewed.
How is my math skewed with the TOP 5 profit margin in the trillions? 10% being hardly? Really, care to explain?
BTW...I'm not asking for more taxes, just asking the question...Trillions of profit, is it really needed? I could understand 10 Million in profits...but Trillions, dang man, that's close to our national deficit. just saying.
Last edited by Biglewi1; 05-05-2011 at 03:30 PM. Reason: sp
05-05-2011, 03:37 PM
#19
With The Resistance
Joined APC: Jan 2006
Position: Burning the Agitprop of the Apparat
Posts: 6,191
Originally Posted by Biglewi1
How is my math skewed with the TOP 5 profit margin in the trillions? 10% being hardly? Really, care to explain?
BTW...I'm not asking for more taxes, just asking the question...Trillions of profit, is it really needed? I could understand 10 Million in profits...but Trillions, dang man, that's close to our national deficit. just saying.
BTW...I'm not asking for more taxes, just asking the question...Trillions of profit, is it really needed? I could understand 10 Million in profits...but Trillions, dang man, that's close to our national deficit. just saying.
Profit of 8% or so is constant over any amount, you are just having a little trouble wrapping your mind around the size of the business.
Once you can do without oil, you won't have to worry about how much people sell it for, but that isn't going to happen anytime soon.
In fact the government takes about 42 cents on every gallon of gas sold and the typical oil company makes about seven cents. Do the math on that.
In the meantime, back away from the TV and start studying economics, you will benefit greatly from the experience.
05-05-2011, 03:48 PM
#20
Line Holder
Joined APC: Apr 2011
Position: Thumbing it
Posts: 33
Originally Posted by jungle
You need economics 101, profit margin and total profits are two very different things. You may have noticed oil is a popular product, lots of people buy it and need it.
Profit of 8% or so is constant over any amount, you are just having a little trouble wrapping your mind around the size of the business.
Once you can do without oil, you won't have to worry about how much people sell it for, but that isn't going to happen anytime soon.
In fact the government takes about 42 cents on every gallon of gas sold and the typical oil company makes about seven cents. Do the math on that.
In the meantime, back away from the TV and start studying economics, you will benefit greatly from the experience.
Profit of 8% or so is constant over any amount, you are just having a little trouble wrapping your mind around the size of the business.
Once you can do without oil, you won't have to worry about how much people sell it for, but that isn't going to happen anytime soon.
In fact the government takes about 42 cents on every gallon of gas sold and the typical oil company makes about seven cents. Do the math on that.
In the meantime, back away from the TV and start studying economics, you will benefit greatly from the experience.
I said
Originally Posted by Biglewi1
I'm not a math wiz, but:
Again, thanks for the schooling...LMAO!...
Now I can put down my gun and relax...(giggle). Usama (Osama) is dead, we can all go home now right....nope!
Thread
Thread Starter
Forum
Replies
Last Post
unemployedagain
Hangar Talk
26
02-07-2009 04:37 PM
