Yeah, God forbid a company out to make a profit actually does.
you're exactly right
its world economics, basic supply and demand.....other countries need oil too, not just ours, but we sure do need alot
its not Obama's fault when oil companies like exxon mobil and others are raking in BILLIONS in profit, almost EVERY quarter !
Revenue and profits
In 2005, ExxonMobil surpassed Wal-Mart as the world's largest publicly held corporation when measured by revenue, although Wal-Mart remained the largest by number of employees. ExxonMobil's $340 billion revenues in 2005 were a 25.5 percent increase over their 2004 revenues.
In 2006, Wal-Mart recaptured the lead with revenues of $348.7 billion against ExxonMobil's $335.1. ExxonMobil continued to lead the world in both profits ($39.5 billion in 2006) and market value ($460.43 billion).
In 2007, ExxonMobil had a record net income of $40.61 billion on $404.552 of revenue, an increase largely due to escalating oil prices as their actual oil equivalent production decreased by 1%, in part due to expropriation of their Venezuelan assets by the Chavez government.
As of July 1, 2010, ExxonMobil occupied 8 out of 10 slots for Largest Corporate Quarterly Earnings of All Time. Furthermore, it occupies 5 out of 10 slots on Largest Corporate Annual Earnings.
Yeah, God forbid a company out to make a profit actually does.
Regardless of their enormous profits, I thought most oil fields were nationalised anyway ?
I never said anything about Oil reserves. and we already have fields with oil that arn't being exploited.
what you people are pushing is making energy so expensive so that we go to smaller homes, smaller cars and push us out of the middle class into tiny econo boxes.
We don't want that. we want to preserve our standard of living. So what if you Europeans pay more for gas? thats how your government and society molded your car culture by placing rediculously high taxes to discourage car ownership as such as scale in the U.S.
I for one am for getting rid of the ethonal subsidy on Corn, and instead transfer them to Sugar origin so that it does not compete with the food supply(See BRAZIL)-since ethonal from corn causes food/agricultural feed more expensive by shrinking availibility to the consumer and instead sending it to the pump and not mouths.
subsidize cheaper alternative to reduce the price of fuel instead while making the same size vehical today, more economical. some V6's today have the same power, or more than V8's back in the day whilst having twice the mileage.
Expand on that. don't SHRINK us and sacrifice our standard of living when you dont need to.
Oil companies are using the Iran situation to push up prices ...
...because they are heartless greedy mutha****s ....
Of course we should be more proactive, but taking a farmers work truck away and giving him a Fiat 500 isnt the way to go. Read what isaid about more fuel efficient vehicals.
forcibly making the average citizens COST to drive to work, (because mass transit isnt an option or too dangerous) and having less money for bills, mortgage, while everything is going up in a hurt economy isnt the way to go.
There needs to be relief. Now. and preserve the economy. While looking for alternative energy.
Why cant we maintain our standard, AND look for alternatives at the same time?
Other countries are doing it. also Nuclear, Algea, Ethanol from sugar. etc.
The U.S. has the right priorities, ****ty methods and application, its investments in the wrong places, and the wrong people leading the charge.
talking about NOW. people are struggling and making it harder for them on purpose NOW, because "People should use less"/enviremental view etc* isn't solving anything. it's making them poor. its hurting the parents putting their kids in college. its making FOOD on the table ****ing expensive.
The demand for energy is there. kicking the regular person in the nuts is only hurting the economy.
But some of you rather see us lose our standing back to the stone age for GAIA.
P.S. screw ordie.
I don't want to get mugged on public transit or shot on the metro rail for 20 bucks.
In regards to Standards of Living...why are all these cities working on the LA model? Urban sprawl...they're working on the population density now in LA, however some of those places aren't affordable but they are going vertical as it is becoming the only way to go.
In regards to corn...dude we need to remove the corn subsidy...there would actually be lower feed prices and we'd produce even less corn. You have any idea how much of that stuff we just burn? Ethanol was created by the farm lobby yet agricultural subsidies do not really help the small farmer at all. We need to invest more money in algae based bio-diesel as well as hydrogen power plants. We also need to go green...and I mean neon green.
Those of you that think the gas companies couldn't drop the price 50 cents tomorrow and not continue to rake in monstrous profits are delusional. If the .Gov wanted to really make it expensive and make us use less it would have been at $5 a gallon a couple years back. It's not a conspiracy...the assholes just want money.
----------Possibly. But even if that is true, depleted oil reservoirs will likely be refilled at very, very slow rate.Created by a naturally occurring process deep within the earths crust.
----------They call that 'oil exploration'.Seems like everytime we estimate the amount of time we have before the well runs dry they find it somewhere else.
----------Actually, the theory was that oil was created from buried layers of decaying plant material, primarily from swamps.When I was in school they told us that oil was the byproduct of decaying dinosaurs.
----------The Prez can certainly influence the price of oil, especially with the Congress behind them.When I was 16 we had our first major oil shortage in the 70's. Gas prices were about $.50 a gallon. Oil is a political football and if the politics of the Pres. stipulate that we pay more, he is going to find a way to make that happen.
----------Three things. You forgot 'demand'.2 things determine the price of gasoline, supply of crude and refining capabilities.
----------That, and enviroextremist lawsuits, NIMBYs, too.Even if we have more oil than we can use the refining capabilities of this country are dreadfully inadequate. All it takes is one refinery going off line to push prices up again. There do not seem to be any plans to build more refineries, and if there were I don't think the EPA would be easily swayed to allow them to be built.
----------Government is always in the business of accruing more power to itself at the expense of our liberty. Right now, the American people do not seem to much give a damn about that. They just want jobs, cheap goods and government bennies that somebody else pays for. Liberty and our inalienable rights, not so much.The government direction now is to control the population, or at least that what it appears to be right now. Until we change that then we are fooling ourselves.
In 2004, the oil usage for the entire U.S. military was 144 million barrels, up 40 million barrels from the average peacetime usage. In that same year, global oil consumption was over 30 billion barrels. So the war increased global oil consumption by a little over one-one-thousandth of its total otherwise. Your claim that military consumption caused higher oil prices is obviously laughably wrong. This is what happens when you make baseless, silly assumptions without doing the math, and then falsely try to present them as 'facts'.
In 2001, Exxon made a 7.73% profit. The horror! BP made a paltry 5.03%. Oh, the humanity! Shell made 5.54%. Somebody save the children!
The reason for the size of the profits numbers is that oil companies sell astounding amount of their product, because we consume astounding amounts of petroleum distillates. Too bad that shoots down the whole 'ebil, greedy, heartless oil company' crapola. Another beautiful theory slain by ugly facts.
However, there is one company that, unlike the oil companies, makes a positively obscene 20% profit margin off of hard-working American consumers, small businesses, students and schools. Who is this truly evil profiteering corporate giant? Apple Computers. So are we going to see the same outrage against 'ebil, heartless Apple'? Yeah, I am quite sure that will happen any moment now.
Last edited by Ought Six; 02-25-2012 at 11:13 PM.
I just remembered another detail. What do you think these massive trillion $$ liquidity pools that formed over the last three months will be doing soon? There’s already a lot of commodities movement happening, or maybe the long suspected bond to market inversion is about to happen?
As for fuel, here in the US there’s about a 90 day lag from barrel $ increase to pump price.
Then there’s the rumor the Fed reserve will begin buying another trillion or so in toxic MBS’s come next month. I wonder how dollar value will appear come summer?
For the other Obama talk…
There’s actually a lot Obama could do to end this economic war, only problem is that the US just might be winning it. Then again, pressure for those unexpected, game changing events is also on the rise.
@oughtsix...how much have ExxonMobil and Shell invested in research and production of algae based bio-diesel? Or even Hyrdogen?