May 22, 201412 yr Anybody care to do the math on the profit BIG OIL has made on the $1.50 price jump daily over the past 6 years? It will make you sick. On my list of companies I dislike the most- Oil/gas, Electric, Cell and Cable. Like solar power tech isn't readily available and wind power doesn't make 'sense'. Just another cover up by government sponsored business.
May 22, 201412 yr Demand is at all time lows. It's never had anything to do with supply and demand, that's an old Enron wives tale. Global demand, my friend, global demand. That's what sets prices in the 21st century... and it's higher than ever.
May 22, 201412 yr Global demand, my friend, global demand. That's what sets prices in the 21st century... and it's higher than ever. Yep. China and India are sucking on oil like never before.
May 22, 201412 yr Anybody care to do the math on the profit BIG OIL has made on the $1.50 price jump daily over the past 6 years? . Below is the math. Historically Exxon had made about 8 to 10 cents per dollar of sales. Not sure what happened in 2009 and the site did not list 2008. It does not appear that they have seen much of a growth in profits in dollars or percentage. The math below suggests they are seeing prince increases from suppliers and passing them along to consumers. Year Sales Net Income Profit as a percentage of sales 2013 393.72B 32.58B 8.19% 2012 428.38B 44.88B 10.48% 2011 437.64B 41.06B 9.38% 2010 344.00B 30.46B 8.85% 2009 277.51B 19.28B 6.95% Like solar power tech isn't readily available and wind power doesn't make 'sense'. Just another cover up by government sponsored business. Government tried everything it could to get Solyndra or whatever that solar company was called to succeed by the government guaranteeing its financing. Solyndra folded and we are on the hook for its default on its financing.
May 22, 201412 yr I'm not use to the prices. It kills me every time I pump gas. Only thing good is the BP card I have. Double rewards day today Got my double rewards today too.
May 22, 201412 yr Whoa; not so. Gas when the last administration left office was 1.89. The only blip occurred in the aftermath of Hurricane Katrina...then prices came back down. Prices have been well over $3.00 the whole time the current administration has been in office. True: the left-leaning press wrote continuously of the price of gasoline at that time; Mr. Obama addressed it in his campaign speeches in 2008. In the last five years: not a peep. If the Fourth Estate continues to let us down.... Gas first hit $3 in August of 2005, due in a large part to Katrina. Since then it has pretty much stayed at or near $3, and spiked at over $4 in the summer of 2008. It then dropped sharply, and right after Obama took office it did dip down to below $2, which Obama really couldn't nor should take credit for. And since it was so close to the transition, I don't know that Bush could really make a claim for dropping it either. Since early 2011, it's pretty much been over $3, and still has never reached the all time high of $4.12 in the summer of 2008, while Bush was in office. I do believe that since we had never really experienced such a high price (and haven't since), that had a big impact on the election. Yes, on average gas has been at it's highest under Obama. But I still contend, that it's been going on for so long (a steady rise since 2005 since we first hit $3), it's old hat. People have had 10+ years to adjust to $3 gas (aside from a few blips here and there) Historical Gas Price Charts - GasBuddy.com
May 22, 201412 yr In Licking County yesterday when gas went up thirty cents big truck flue did not go up at all, as was the case the last three times gas went up 25-30 cents.
May 22, 201412 yr I renew my Sams membership mainly for gas each year. They always react the slowest.
May 22, 201412 yr Paid $3.51 at Lawrenceburg Kroger on Tuesday. Yesterday it was $3.66, today according to Gas Buddy it's $3.86.
Archived
This topic is now archived and is closed to further replies.