What's it coming to? The ripple effect?
 

I am no financial Guru or Economist, but all these fuel companies look like they are making HUGE profits, correct me if I am wrong. I could have sworn I heard that the price for a barrel of oil reduced, but yet the gas price is still high. It seems that while these oil/gas companies are profiting, the rest of the world is suffering. Just my 2 cents! :confused:

Obviously this all has a huge effect on the consumers and companies, hence the airlines cutting back on flights.

Chevron:

Financial Highlights – 2007
• Sales and other operating revenues – $214.1 billion
• Net income – $18.7 billion, or $8.77 per share – diluted
• Return on capital employed – 23.1 percent
• Return on average stockholders’ equity – 25.6 percent
• Cash dividends – $2.26 per share
• Total stockholder return – 30.5 percent

Conoco Phillips:

http://www.conocophillips.com/NR/rdo...onalTables.pdf:mad:

Its not that simple....

Oil spikes to over $110/bbl...it takes a couple weeks for the increased cost to be translated to the pump, just like it takes a couple weeks for decreased cost to be translated to the pump as well.

That's also not even taking into account the extremely weak value of the dollar vs. the Euro. Oil is traded in dollars, so when the value of the dollar drops vs. other world currencies it costs more dollars to purchase.

Don't blame the oil companies for the high cost of oil; blame the bastard commodities traders and speculators for that. THEY ARE TO BLAME.

Spot on boiler.

I would have to agree. It's just getting so frustrating! Oh well, time will tell all.

This has been discussed many time before but to add to your point, India and China are now using much more oil than ever before. So until we start uncapping some of our domestic sources, using more nuclear, expanding alternative energy, we will be at the mercy of the traders. And no one is doing anything world wide to stop it! Tell me who out there has a real viable alternative to oil? No one that I'm aware of. So we have to increase our own supply. Otherwise as stated before, if oil goes to $200bbl, people are still going to buy it. We have no choice.

Add to that the bombing of the pipeline in Iraq and the nutjob in Iran in the picture looks worse.

wow, no idea how sick i am of hearing about this subject. not trying to sound like the voice of reason here but why ***** about what we can't change? i'd be thrilled if one day went by where i got on here and there were some new threads about something actually fun to talk about. but oh well im gonna quote the good man R. Burgandy and say "If you like that take it, if you don't, send it right back."

everyone should ride bikes

Or scooters! 90 miles per gallon baby. I just pull up to work, park my hog in the hangar, fire up the X and Im on my way. It feels great to save some gas on the way to work only to spew jet exhaust all over denver on takeoff. Gitty Up!

Is it possible to get PIC time in a scooter?

yeah you can, with the appropriate type rating however. check out Simu-Scooter or ScooterSafety, they both have pretty sweet training protocol.

How about Scooter University?

Continental is supposed to test one of their 737's next year with biofuel:

http://www.gizmag.com/continental-ai...t-flight/8998/

If that works out maybe our futures will be safe...

So instead of acid rain, we'll get fried rain LoL. Problem is, if everybody jumps on that bio-fuel bandwagon, the cost of waste oil from McD's might surpass that of gas!

It's not about oil, there's plenty.

It's about the dollar.

It's not backed by anything except debt...making it pretty much worthless.

But you can do something about it, have you written your representatives urging them to push for oil production in the US? I bet if we all started to write letters it would put some pressure, at least is trying versus giving up.

It's interesting when people who drive Expeditions & such ***** about gas prices. :cool:

It's not ALL the commodity traders it is:

1. Rising Demand
2. Lack of Supply(OPEC)
3. The traders

Exponentially increasing demand in China, India and Russia are raising prices but S&D fundamentals do not support $100/bbl oil.

Rising demand and "lack of supply" are not responsible for $110/bbl peaks in price. Speculators and the weakness of the US dollar in the global economy, however, ARE.

yup. $110 oil is the price of America's idiotic foreign policy.

Everyone get scooters, the revelotion begins today!!!

This interesting that this subject has been brought up because I just completed a report on aviation alternative fuels. I don't know to much on the automotive side; however, if they can power airplanes with alternative fuels, cars are not a problem. The Commercial Aviation Alternative Fuels Initiative (CAAFI) is getting the ball rolling with a vengence on alternative fuels. http://www.faa.gov/news/fact_sheets/...m?newsId=10112

There has already been numerous tests for synthetic jet-A FTs (Fischer-Tropisch process). In fact, Sasol out of Johannesburg Int'l pumps airplanes with in synthetic Jet-A FTs (low 30%) with no problems. http://www.atwonline.com/channels/ai...articleID=1926

As for biofuels, There are some major players participating in overseeing the development of bios including GE, Continental, Virgin and Airbus. There has already been test flights made with bios with more on the way.

Other alternatives include Gas-to-liquid (GTL) which takes natural gas and converts it to liquid kerosene. More alternatives being considered is Coal-to-Liquid fuel which by the way has government support with several bills making their ways up the congressional ladder. In fact these bills are being sponsored by Obama and Jim Bunning (R-Ky). Alittle bit of trivia, the U.S. is the "Saudi Arabia of coal" with KY and IL being the leading states. "But what about greenhouse emissions?" I'm sure that was itching on people minds. Only fuels with global greenhouse gas emissions equal or less that that of petroleum are considered by CAAFI. The USAF wants the whole fleet to be flying with at least 50/50 FTs by 2016.

So relax fellas, its on the way. This might help to put the airlines back in the positive side of the ledger. Plus it would be nice for the U.S. to hold the cards over the world for alternative fuels for a change (or at least be self reliant from the world).

I sure that most of you already knew about this. If so, forgive me if I bored you.

Scootstream Academy :cool:

0 to Scooter Captain :eek:

If you want to track the price of oil, google has cool gadgets that you can insert on your igoogle web page that will post the price as it changes. Last close was $106.23 per barrel. That doesn't sound like oil is getting any cheaper to me. Ladies and Gentlemen, the Captain has turned on the seatbelt sign, please return to your seats. We are anticipating some turbulence ahead.

Where do you live?Where I am-if the price of oil goes up at 9 am by 10:15 they have adjusted the pumps up

Well then, Sport, why don't you try starting one?