Posted by F-350 on December 06, 2008 at 06:01:56 from (12.213.112.56):
In Reply to: Re: Gas under a dollar posted by Uncletom on December 06, 2008 at 04:57:49:
The oil company record profits are in total dollars-not percentages.Oil companies make just under 10% profit.One of the large local factories told their workers this week that their profits are running close to 18-20% for the year.
Oil needs to stay around $50-60.There is heavy oil being pumped in this area and it takes $50 to break even so they may soon shut down.$60 oil means $1,75 fuel and we can all afford that.We were paying $1.25 in the 1980's.When fuel gets too cheap no new oil fields will be developed and alternative energy plans get scrapped.
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