What's it coming to? The ripple effect?
04-02-2008 | 10:24 AM
#1
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From: Soon2B
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! 
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
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
04-02-2008 | 10:30 AM
#2
Doing One Pilot's Job
Joined: Sep 2005
Posts: 7,889
Likes: 125
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.
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.
04-02-2008 | 10:41 AM
#5
Gets Weekends Off
Joined: Feb 2007
Posts: 1,434
Likes: 0
From: 1st year pay for the 3rd time
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.
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.
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.
04-02-2008 | 10:47 AM
#6
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Joined: Mar 2008
Posts: 99
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From: Lear 35/31 FO
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."
04-02-2008 | 01:04 PM
#8
Banned
Joined: Jan 2008
Posts: 784
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From: A-320
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!
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