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Tractor Talk Discussion Forum

Oil Company Profits

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john in la

08-20-2005 05:24:41




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Saw a page on the bulletin board at one of the gas loading racks in my area.

It showed the profit of 2005 year to date in a graft.
Top dog was Motiva. (Motiva is a company formed when a Saudi company merged with Shell and part of Texaco)
Down at the bottom of the list was Valero.

Part I found funny is with record gas prices and everyone up in arms about this they were really bragging about how they were making more money than anyone else.

While only workers can see this bulletin it is still a slap in the face because they still need to buy gas themselves.

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save gas ride a horse

08-20-2005 17:19:41




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 Re: Oil Company Profits in reply to john in la, 08-20-2005 05:24:41  
Simple Economics. You sell product X (corn, wheat, hay, beef, or....GAS!!!), so you put a price on it that covers your cost and your time plus some extra. The public demands your product and buys it all. You increase the price to maximize your profits. Sales begin to decline so you sell less product but your selling it at a higher prize so your still making a profit. Sells counting to decline until you reach a point where your making less profit, so you reduce the price to increase sales and again maximize your profits.
Taxes are the real thiefs. Our government and Sates are making big, big,$$$$ off the sales of gasoline. Check out the sales taxes applied to each gallon of gasoline in your area and ask your self whats unreasonable. Oh yeah, if you buy less gas, you Pay Uncle Sam less money.

I say, "Save gas ride a Horse". Hey we could go back to that you know! Horses have just as much right on a road way as a vehicle. Just imagine riding your horse back and forth to work everyday, or loading the wife and kids into the horse drawn wagon and taking a trip to the local Wal-Mart for your weekly supplies and groceries..... Just a thought!!!!

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txgrn

08-20-2005 16:38:19




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 Re: Oil Company Profits in reply to john in la, 08-20-2005 05:24:41  
If you can't stand it buy yourself a wheelbarrow full of oil stock and enjoy the windfall.



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North of Linoma Beach

08-20-2005 09:42:39




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 Re: Oil Company Profits in reply to john in la, 08-20-2005 05:24:41  
Read my post on "Fuel Prices"



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Sid

08-20-2005 09:23:56




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 Re: Oil Company Profits in reply to john in la, 08-20-2005 05:24:41  
If you guys want to read something intellengent go up a post or two and read what North of Linoma Beach replied.



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Duane H

08-20-2005 09:18:19




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 Re: Oil Company Profits in reply to john in la, 08-20-2005 05:24:41  
We live in a free market economy. It is not an American right to have cheap fuel. It is and has been a luxury. It is every company's right to make a profit. I think that just about everyone of us on this web site would raise their prices if what they were selling was in hot demand. I hate high gas prices as much as the next guy but we live in America so price and demand are directly related. I have spent time in Europe where gas prices have been high for years and they drive small cars and use public transportation. We need to start doing the same. And believe me I don't like it any more than you do.

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KenSWLA

08-20-2005 13:29:45




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 Re: Oil Company Profits in reply to Duane H, 08-20-2005 09:18:19  
Did the Europeans driving small cars and using public transportation make or keep their gas prices low?



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tlak

08-20-2005 12:25:37




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 Re: Oil Company Profits in reply to Duane H, 08-20-2005 09:18:19  
The reason that prices are regulated is because if they're the only game in town. ""It is every company's right to make a profit''
I guess everybody on this board would like to have the only business in town.



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Duane H

08-20-2005 14:24:32




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 Re: Oil Company Profits in reply to tlak, 08-20-2005 12:25:37  
All of the oil companies are not the only game in town. Each one has to compete with the other ones to stay in business. Just the same as every other business ever created. Econimic cycles create oportunities to take extra profit and if you are in business and don't take the oportunity then you will probably not be in business when the econimic cycle goes the other way. If you don't like the price of goods don't buy it. You have the choice. Move closer to your job and ride a bike.

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tlak

08-20-2005 15:07:11




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 Re: Oil Company Profits in reply to Duane H, 08-20-2005 14:24:32  
You option is drive or not. If gas prices rose at a set rate over the last 20-yrs then everybody would be use to them. Not everybody can buy a hybrid or pick up and move to suit the oil company's price gouging. Gas prices are not competitive.



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Wau Up Here

08-20-2005 07:25:15




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 Re: Oil Company Profits in reply to john in la, 08-20-2005 05:24:41  
I see your point and your concern, however is it any more of a slap-in-the-face than the rich elite who live around you anywhere in this great country while others live in poverty? Six-million dollar homes, $100 thousand dollar cars, elite schools with outrageous tuitions, etc. I'm afraid it's always been that way and always will. I think the biggest mistake that oil companies ever made was to post prices on those signs .... everywhere we go the high prices are advertised on every street corner to remind us. House and property values are out of sight too but we seldom complain about those. Same thing for bank profits, although there is sometimes concern voiced about their profits. I guess we just have to get used to it and after all, isn't profit what supposedly drives this great society we live in?

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JT

08-20-2005 05:58:49




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 Re: Oil Company Profits in reply to john in la, 08-20-2005 05:24:41  
Exon-Mobile..... .....
Profit 2004- $21 Billion
Ptofit 2005- $35 Billion projected
I think these were the years and profit figures, I do know they had massive increases in profit.
40% increase, must be nice to have that kind of profit growth. These were the figures off NBC news a few days ago. Sure wish by business had a 40% growth. Must be doing something wrong.



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tlak

08-20-2005 07:02:57




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 Re: Oil Company Profits in reply to JT, 08-20-2005 05:58:49  
Your probably not trying hard enough to steal money off fixed income people or trying to destroy the American economy.
This will probably be deleted once the whiners get here.



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Dug

08-20-2005 09:48:01




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 Re: Oil Company Profits in reply to tlak, 08-20-2005 07:02:57  
Well, tlak, I see you have Capitlism all figured out. Graduate of Marx University?

Dug



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tlak

08-20-2005 12:20:52




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 Re: Oil Company Profits in reply to Dug, 08-20-2005 09:48:01  
No Dug, I didn't go to your college.
I'll try to explain real slow for you. If the oil companies make billions of dollars a quarter, and the money has to come from somewhere, and people on a fixed income still have to go to the Dr, store, bank, etc..and their income will not increase. Ya, I figure the oil companies are stealing from them. If these high prices continue they will show up in everything you eat, buy, do..

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Dug

08-20-2005 20:21:41




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 Re: Oil Company Profits in reply to tlak, 08-20-2005 12:20:52  
Of course the oil companies are out to make a profit. That, my friend, is capitalism. Get used to it.

Dug



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tlak

08-21-2005 00:45:13




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 Re: Oil Company Profits in reply to Dug, 08-20-2005 20:21:41  
The oil companies were regulated and should go back under regulation because their the only game in town.
You either work for an oil company or are getting rich off the backs of fixed/low income people.
Don't feel bad, it's the way the system is, you just can't justify it to me, no matter what you say, the billions that the oil companies are sucking out of the economy.



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Kansas

08-20-2005 20:16:20




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 Re: Oil Company Profits in reply to tlak, 08-20-2005 12:20:52  
You are exactly right.
I hope Dug, gets his.



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cdmn

08-20-2005 13:34:18




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 Re: Oil Company Profits in reply to tlak, 08-20-2005 12:20:52  
My Dad and other older relatives get their income from investments in IRAs, Insurance Annuities, etc. A big share of the profit in these comes from the oil companies and pharmaceutical companies. So, don't knock it? Get a piece of it!
On the other hand, the Norwegians and Latin Americans and Canadians who sell us oil, spend it by coming to the US for college and for vacations, thus giving the younger people employment. They buy vacation homes, and jet planes, for example. They also buy stock in US corporations which helps keep the price up for our retirees and keeps the employment going.

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tlak

08-20-2005 15:28:50




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 Re: Oil Company Profits in reply to cdmn, 08-20-2005 13:34:18  
You missed my point. People who can't afford the price gouging, can not afford to move or buy oil commodities.



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Mike3501

08-20-2005 13:02:18




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 Re: Oil Company Profits in reply to tlak, 08-20-2005 12:20:52  
Very true tlak , Something is going to give one of these days . I can't imagine it just going on and on . I don't think the majority of the working people can keep up any more . Why do you think the saving rate is 0 and people are in debt up to thier eyeballs ,same as the country too . Sorry state of affairs



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Dug

08-20-2005 20:20:32




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 Re: Oil Company Profits in reply to Mike3501, 08-20-2005 13:02:18  
Mike,

The savings rate is 0 and the debt load has risen because of increased standards of living. Look at the average house compared to 30 years ago. Look at the average vehicle compared to 30 years ago. Electronics, telecommunications, the list goes on. Folks have to have the latest and best whether they can "afford" it or not, thus increased debt and decreased savings. We have only ourselves to blame. The big bad banks didn't force us to assume debt to live up to our standards, we made the choice ourselves.

Dug

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Jeff Oliver

08-21-2005 07:00:35




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 Re: Oil Company Profits in reply to Dug, 08-20-2005 20:20:32  
hot sure about you but myself personally work in a good paying trade and make a decent living. Problem is the prices of products kep going up but since we have NAFTA and alot of jobs are going overseas then I can't get that cost of living wage increase like I used to. now of couse those fine folks in Washington who represent us have voted so that they get it automatically so what do they care right?

Also I have read some oil companies talk about a precentage increase as their cost goes up. So why is it that the load of fuel they buy at a service station for example once a week can increase in price three or four times a week?? They paid for what they bought one time....

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