Gas prices. WTF?

[99 BUCKET]

fuel injection!!!! and I have a cool little average mpg gauge. but I used to not ride it if there was a hint of rain. black bike, water spots, bad mojo. In leu of the gas prices I have been riding it in everything except the down pours. sad really

[Damn True]

The gas companies continue to make record profits and charge us more at the pump. Take a look at Yahoo Finance for exxon, chevron and valero income statements. It is sickening.

C'mon pal. Look deeper than what some talking head on Network TV tells you.

First, learn the difference between profit margin and gross profit.

Then consider this:

The top 5 oil companies in the world are:
1. Saudi Aramco
2. National Iranian Oil Company
3. PeMEX (mexico)
4. Citgo (Venezuela)
5. Exxon/Mobil (United States)

There is only one US company even in the top 5. Exxon/Mobil produces about 90% LESS oil than Saudi Aramco and holds only a 3% GLOBAL market share.

The reason your gas prices are high and getting higher is that there are over 3000 more cars on US roads every day and there are over 500 times more vehicles on the road in China that there was just 3 years ago. The demand is up, the supply is largely stagnant. You want to be pissed at someone and I understand that. But don't be pissed at the oil companies, be pissed at those who prevent US oil companies from exploring and producing oil on our shores.

There has not been a refinery or Nuke plant built in the US in over 30 years. More nukes would mean less oil used to create electricity and more available for motor-fuel. More refineries would lower the oil companies costs and allow them to increase production and therefore supply.

[MarkM66]

I just purchased an 84 Mercedes 300D Turbo Diesel Monday. It's Vegatable Oil Time in Tennessee.

I am going to do something REALLY STUPID and join the "Green" crowd, after all, Al Gore is my neighbor.

They say these old Mercedes are great Vegatable Oil cars so I am going to have some fun and experiment with a single tank "veggie" kit for the car.

If it works like it is supposed to work I can't complain about FREE FUEL!

"Going Green?" Next you'll be telling us you're "Off the grid." LOL

[vintageracer]

"Going Green?" Next you'll be telling us you're "Off the grid." LOL

Big Al (Al Gore) just got his solar panels approved for his house here in Nashville just as long as they cannot be seen from the street OR by his neighbors. Maybe I can sneak an extension cord over to his house and get "Off the Grid"!

[steemin]

here 'ya go!

Ahh yes the Cotton Picker brother to the orange crate and the Apple Peeler(?)
I love those old bikes.
But that 5 speed shifter is scary looking
Scott

[camcojb]

Ahh yes the Cotton Picker brother to the orange crate and the Apple Peeler(?)
I love those old bikes.
But that 5 speed shifter is scary looking
Scott

yes, there's a reason they discontinued them around 1972!

Jody

[WS6]

Oh nuts!



Anyway, the HOR passed their antiprice gouging bill either today or yesterday. I am sure many people here that are upset with gas prices agree with this bill. Just ask yourself one question though. Where in the bill does it give a number, a figure, a percentage, or anything that even comes close to definitively saying what constitutes or qualifies as gouging? I'll save you the trouble, it doesn't. It's complete BS because it leaves it up to congress to decide for themselves what constitutes gouging. This is the same congress that has investigated oil companies multiple times on the past for price gouging and every single time have said "Oh well we find nothing wrong afterall". Yet they still pass this rediculous bill. Talk about pandering to the ignorant.

Again, there is absolutely nothing wrong with a company making huge profits in a legal manner. If you don't like it, don't give them any of your money.

You should be congratulating Exxon/Mobil for bringing in such huge numbers while still giving us some of the cheapest fuel in the world. Especially considering the majority of their profit comes from overseas, not US sales. This is other countries money that Exxon gets to use here in this country. But, no, instead so many people cuss them and talk about taking their legally earned money away. Preach on socialist brothers, preach on.

[Damn True]

Trey, I want to buy you a beer.

[bookends]

[quote=6'9"Witha69]It is all manufacturing costs right now. A lot of refineries have been working at full capacity, and in order to make more capacity, have to shut down for a while to do so. Thereby creating less supply and upping the price. quote]

true but it's damned ironic that it happens right at the beginning of summer when everyone goes on vacation.

[jsconiers]

I have a dump truck that drives for a refinery. They are at a much lower capacity and can't keep the trucks they have subcontracted working 32 hours a week, but am told it will ramp up mid to late june. When it ramps up trucks are sub contracted and run 24 hours a day. While I would tend to think it is on purpose refineries are at a lower capacity. The oil companies as well as most other major business industries, not to mention politicians, the iraq war, illegal aliens, out sourcing, etc, are hosing the consumer. Until we scream "enough is enough" or start changing our habits they will continue to screw us.....

No offence, but that's BS. The refineries are at the same capacity they were right after Katrina. But, the gas was cheaper then than it is now. It's the oil companies hosing the consumer.
Don't get me wrong, I'm all for businesses making money, but they are earning record profits in the neighborhood of tens of billions of dollars. Try telling the world they are not gouging.

[jsconiers]

That statement is not true......the refinery I'm near to hasn't done this...

[quote=bookends]

It is all manufacturing costs right now. A lot of refineries have been working at full capacity, and in order to make more capacity, have to shut down for a while to do so. Thereby creating less supply and upping the price. quote]

true but it's damned ironic that it happens right at the beginning of summer when everyone goes on vacation.

[Steve68]

C'mon pal. Look deeper than what some talking head on Network TV tells you.

First, learn the difference between profit margin and gross profit.

Then consider this:

The top 5 oil companies in the world are:
1. Saudi Aramco
2. National Iranian Oil Company
3. PeMEX (mexico)
4. Citgo (Venezuela)
5. Exxon/Mobil (United States)

There is only one US company even in the top 5. Exxon/Mobil produces about 90% LESS oil than Saudi Aramco and holds only a 3% GLOBAL market share.

The reason your gas prices are high and getting higher is that there are over 3000 more cars on US roads every day and there are over 500 times more vehicles on the road in China that there was just 3 years ago. The demand is up, the supply is largely stagnant. You want to be pissed at someone and I understand that. But don't be pissed at the oil companies, be pissed at those who prevent US oil companies from exploring and producing oil on our shores.

There has not been a refinery or Nuke plant built in the US in over 30 years. More nukes would mean less oil used to create electricity and more available for motor-fuel. More refineries would lower the oil companies costs and allow them to increase production and therefore supply.

We can only explore 15% of our areas for oil,

At the end of last year Cuba gave the rights to explore the ocean area to numerous countrys, which is right off the FL coast, an oil rich area that we have known for years,

[Steve68]

Oh Yea, I want off the grid too!

[WS6]

[quote=bookends]

It is all manufacturing costs right now. A lot of refineries have been working at full capacity, and in order to make more capacity, have to shut down for a while to do so. Thereby creating less supply and upping the price. quote]

true but it's damned ironic that it happens right at the beginning of summer when everyone goes on vacation.

Environmentalists have gotten laws passed that dictate a different botique fuel during the summer times in so many of the major cities. Summer time typically starts right around Memorial day due to schools getting out for the summer. Vacation time starts once the kiddies are allowed to leave.

Maybe the refineries could start producing this botique fuel sooner in anticipation of the rush. However, I am betting there would be storage/shelf life issues maybe even production issues with trying to make too many different fuels at one time. I do not know the ends and outs to that extent to really be able to say though.

True, you make your way over here to the better coast and I'll go have a beer with you anytime.

[WS6]

We can only explore 15% of our areas for oil,

At the end of last year Cuba gave the rights to explore the ocean area to numerous countrys, which is right off the FL coast, an oil rich area that we have known for years,

This is the biggest slap in the face to all those people who scream of the horrors that could occur to the precious vacation industry in FL if we allowed drilling off the coast. Yet five miles further off the coast than we want to drill a country that doesn't like us has allowed people to drill. As if five miles makes a difference when you're what 50 off the coast already? Instead of these wonderful people going "oh hell no your not taking that money from us" they decide to sit there and scream of how badly the beaches would be damaged if something happened to the offshore oil rig that's drilling for natural gas. People are dumb and I am convinced the dumbest are responsible for creating our laws and screaming the loudest.

[TonyHuntimer]

All the excuses about why the gas prices are a bunch of BS. The oil companies know that they can raise the price as much as $1 per year and people will still pay.

There are a hand full of guys at the "top" making a ton of money off these rate hikes. If you could find out their salaries you would have a heart attack.

Tony Huntimer
Goodies-SpeedShop.com

[rob07002]

All the excuses about why the gas prices are a bunch of BS. The oil companies know that they can raise the price as much as $1 per year and people will still pay.

There are a hand full of guys at the "top" making a ton of money off these rate hikes. If you could find out their salaries you would have a heart attack.

Tony Huntimer
Goodies-SpeedShop.com

KEY EXECUTIVES PayExercisedMr. Rex W. Tillerson , 54
Chairman, Chief Exec. Officer, Pres, Chairman of Fin. Committee and Chairman of Exec. Committee$ 4.30M$ 2.08MMr. Donald D. Humphreys , 59
Principal Financial Officer, Sr. VP, Treasurer and Member of Management Committee$ 2.50M$ 2.46MMr. H. R. Cramer , 56
VP and Pres of ExxonMobil Fuels Marketing Company$ 2.36M$ 6.35MMr. J. Stephen Simon , 63
Sr. VP$ 3.09M$ 4.58MDr. S. R. McGill , 64
Sr. VP$ 3.09M$ 4.17M

Couldn't find bonuses though

[6'9"Witha69]

KEY EXECUTIVES PayExercisedMr. Rex W. Tillerson , 54
Chairman, Chief Exec. Officer, Pres, Chairman of Fin. Committee and Chairman of Exec. Committee$ 4.30M$ 2.08MMr. Donald D. Humphreys , 59
Principal Financial Officer, Sr. VP, Treasurer and Member of Management Committee$ 2.50M$ 2.46MMr. H. R. Cramer , 56
VP and Pres of ExxonMobil Fuels Marketing Company$ 2.36M$ 6.35MMr. J. Stephen Simon , 63
Sr. VP$ 3.09M$ 4.58MDr. S. R. McGill , 64
Sr. VP$ 3.09M$ 4.17M

Couldn't find bonuses though

The stock prices are up in these times of so called windfall profits. The bonusses probably have some sort of EPS wrap which greatly increases bonusses based on stock performance. You can be sure bonusses are through the roof.

[lowboy]

I know, lets have the government take over the oil industry. Then everything will be just awesome! Damn these oil company's and they're exorbitant profits..

[Ralph LoGrasso]

Laissez-faire...