Not another gas price thread!

[my73charger]

Kinda weird.  The gas stations in my town have all started dropping their prices.  One is still at $2.85, another at $2.79, another at $2.77, and still another at $2.71

We got a gas war!!  Woohooo!!

[71440charger]

mine is at 3.05

[Mopar440+6]

If you watch the news the price per barrel has been coming down the last few days. Friday it was $75/barrel, now its down to $71. This would explain the stations lowering their prices...

[71440charger]

ha ha 

[my73charger]

Well the weird part is in this town they all usually change prices like clock work together and they ALWAYS match prices.  We never have a rogue station with lower prices..no price fixin here.   You young guys think you know everything.

[BigBlackDodge]

Oil goes up 5 bucks a barrel and gas goes up 25 cent a gallon.

Oil goes down 5 bucks a barrel and gas goes down a nickle a gallon.



At least it's heading in the right direction..........down.

BBD

[4402tuff4u]

Don't worry Congress is looking into approving release of $ 100 check per tax payer for gas price relief!! !!

[41husk]

I wouldnt wait for our Government to fix the gas problem

[Lightning]

anybody read this yet?

http://www.msnbc.msn.com/id/12509275/&GT1=7938

we might get $100 rebate checks or 60 days without federal gas tax

[hemihead]

Price goes up instantly at the pumps and when it comes down it takes a week to get to the pumps.
Remember last year when the price got high and people complained and the government said they were going to investigate?The price came down what, 20 cents , and people stopped complaining and there was no investigation.The oil companies got the price they wanted.

[Chargen69]

Don't worry Congress is looking into approving release of $ 100 check per tax payer for gas price relief!! !!

That wont even fill my truck up once.

[69charger2002]

i just noticed the same thing on my way home.. the 2 gas stations down the street.. they are across the street from each other.. one is an off brand station. the other chevron. they are normaly ALWAYS $.04 cents apart.. past week it has been $2.95 and $2.99.. well today i just ran by there and the cheap place was $2.79 and the chevron was still $2.99.. no kidding. there were 3 cars filling up at chevron, not 1 car at $2.79.. don't guess people pay as much attention as they should. i know where i'll be this afternoon.. getting some CHEAP $2.79 gas(is that even possible?? cheap 2.79??)

[my73charger]

Not sure what is cheap anymore.  I do know that I laugh at a $100 cash rebate for gas.  Should last a couple of weeks.   I am just wondering if maybe some of these stations are concerned about the "investigation", maybe not in a gouging sense, but maybe they are worrying about price fixing charges.

[Bandit72]

i'm gonna plant some corn and make my own gas 

later 

[Charger_Fan]

i'm gonna plant some corn and make my own gas 

Bean-n-cheese burritos & buttermilk...guaranteed for 24 hours of grade-A methane.

[BigBlackDodge]

i just noticed the same thing on my way home.. the 2 gas stations down the street.. they are across the street from each other.. one is an off brand station. the other chevron. they are normaly ALWAYS $.04 cents apart.. past week it has been $2.95 and $2.99.. well today i just ran by there and the cheap place was $2.79 and the chevron was still $2.99.. no kidding. there were 3 cars filling up at chevron, not 1 car at $2.79.. don't guess people pay as much attention as they should. i know where i'll be this afternoon.. getting some CHEAP $2.79 gas(is that even possible?? cheap 2.79??)

I see that alot too. I figure they're just putting it on a gas credit card and paying even more for it later. Morons.

BBD

[253862656971]

I did a little research on the gas prices the other day.

Oil companies make about 15  cents per gallon of gas.

The feds have a tax of 18 cents per gallon.

Most states are in the neighborhood of 20-25 cents per gallon tax. 

http://www.gaspricewatch.com/usgastaxes.asp

I have not researched what the local gas stations make per gallon but you guys can do that just as easy as me, Ask.

Just some food for thought.

[my73charger]

I have an acquaintance that owns a local gas station. They told me their margin is around 7-8 cents.

[Arthu®]

Don't worry Congress is looking into approving release of $ 100 check per tax payer for gas price relief!! !!

LOL all that really does is remind you of how ****** you are

Arthur

[Charger_Fan]

That $100 rebate check thing is dumb, just like that $400 child tax credit from a few years ago was dumb. How many people actually used that for something besides beer & pizza? Ok, in fairness, we actually used the $400 thing for part of our backyard fence, if I recall...but a hundred bucks is definite beer & pizza money.

Besides if they give everyone $100, you just KNOW they'll make up for it somewhere else. It won't just be handed out from the goodness of their hearts.

[MichaelRW]

I have an acquaintance that owns a local gas station. They told me their margin is around 7-8 cents.

That's 7-8 percent, which is still very reasonable for the huge investments oil companies make.

[MichaelRW]

That $100 rebate check thing is dumb, just like that $400 child tax credit from a few years ago was dumb. How many people actually used that for something besides beer & pizza? Ok, in fairness, we actually used the $400 thing for part of our backyard fence, if I recall...but a hundred bucks is definite beer & pizza money.

Besides if they give everyone $100, you just KNOW they'll make up for it somewhere else. It won't just be handed out from the goodness of their hearts.

I agree that the $100 rebate check thing is dumb but I am all for the gas tax reduction idea. Most any tax reduction to me is a good idea.

[myk]

How about we get the dumb-ass environmentalists to lay off of the oil companies so they can produce more refineries and increase oil processing and gas production?  This country hasn't seen a new refinery in over 30 years.  Considering the milions of cars and trucks now on the road compared to 30 years ago, the same amount of fuel is being stretched, therefor the oil companies will be more than happy to charge for the increased demand.  I'm all for saving the whales, hugging trees and all of that other junk, but let's put human beings first every once in a while, yeah?

[Troy]

Saw it for $2.69 today just after I filled up (on a weekend even!). Last summer I was driving over 500 miles per week and a $.60 price increase in gas cost me $8.80 (34 mpg for anyone with a calculator). In order to cope with the outrageous demand on my wallet I decided to eat lunch at Wendy's one day a week instead of a "nicer" restaurant. I managed to survive by some miracle even though it was a gruelling ordeal. Granted, it wasn't as tough as giving up two packs of cigarettes or a couple of beers out on a Friday night. Now that would be something to get fired up about!

Troy

[bull]

Saw it for $2.69 today just after I filled up (on a weekend even!). Last summer I was driving over 500 miles per week and a $.60 price increase in gas cost me $8.80 (34 mpg for anyone with a calculator). In order to cope with the outrageous demand on my wallet I decided to eat lunch at Wendy's one day a week instead of a "nicer" restaurant. I managed to survive by some miracle even though it was a gruelling ordeal. Granted, it wasn't as tough as giving up two packs of cigarettes or a couple of beers out on a Friday night. Now that would be something to get fired up about!

Troy

It's not just the cost of gas going up that hurts it's the cost of every good and service that is transported using gas and diesel going up along with it.

[Troy]

Saw it for $2.69 today just after I filled up (on a weekend even!). Last summer I was driving over 500 miles per week and a $.60 price increase in gas cost me $8.80 (34 mpg for anyone with a calculator). In order to cope with the outrageous demand on my wallet I decided to eat lunch at Wendy's one day a week instead of a "nicer" restaurant. I managed to survive by some miracle even though it was a gruelling ordeal. Granted, it wasn't as tough as giving up two packs of cigarettes or a couple of beers out on a Friday night. Now that would be something to get fired up about!

Troy

It's not just the cost of gas going up that hurts it's the cost of every good and service that is transported using gas and diesel going up along with it.

Yeah, I'm fully aware of that. However... when most people complain it's always about how much it's costing them to fill up. Period. If it didn't directly impact a person's immediate spending money then they most likely wouldn't notice it or even bother talking about it. Kinda like how people want to attack Exxon because of their profits when the government is raking in 35-60 cents per gallon in taxes. Also, most goods/services use diesel trucks and those prices have remained fairly steady over the last month or so. Now, I don't shop as much as some people but have prices really gone up that much? I can't say that I've even noticed a change in my grocery bill.

Troy

[Silver R/T]

yes groceries went up definitely, milk, beef, even veggies

[bull]

Saw it for $2.69 today just after I filled up (on a weekend even!). Last summer I was driving over 500 miles per week and a $.60 price increase in gas cost me $8.80 (34 mpg for anyone with a calculator). In order to cope with the outrageous demand on my wallet I decided to eat lunch at Wendy's one day a week instead of a "nicer" restaurant. I managed to survive by some miracle even though it was a gruelling ordeal. Granted, it wasn't as tough as giving up two packs of cigarettes or a couple of beers out on a Friday night. Now that would be something to get fired up about!

Troy

It's not just the cost of gas going up that hurts it's the cost of every good and service that is transported using gas and diesel going up along with it.

Yeah, I'm fully aware of that. However... when most people complain it's always about how much it's costing them to fill up. Period. If it didn't directly impact a person's immediate spending money then they most likely wouldn't notice it or even bother talking about it. Kinda like how people want to attack Exxon because of their profits when the government is raking in 35-60 cents per gallon in taxes. Also, most goods/services use diesel trucks and those prices have remained fairly steady over the last month or so. Now, I don't shop as much as some people but have prices really gone up that much? I can't say that I've even noticed a change in my grocery bill.

Troy

You don't really want to get us started complaining about taxes do you? I'm not any more excited about that but that too falls on deaf ears, and it has for the past 230 years in this country and every other country since the idea was conceived. I've seen higher gas prices effect almost everything from lumber to groceries to bus tickets and concrete. It has to absorbed somewhere and business owners aren't going to take it in the shorts. Just like when they increase the price of pizza, movie tickets and every other item at businesses where teenagers are employed whenever the minimum wage goes up.

Oh yea, and Exxon still sux.

[Troy]

It has to absorbed somewhere and business owners aren't going to take it in the shorts.

But Exxon is expected to "give back" their profits right??? How about if they lower the prices to $1.30  and take a massive loss like those morons in Texas are demanding? Why would that be ok but it's not ok for other businesses to "take one for the team" for the benefit of hard working Americans? It's because they are businesses and if they don't make a profit they won't be in business for long. The costs associated with doing business are what sets the prices and that's not likely to change. I did find it interesting in the article linked above where they stated that gas has the lowest profit margin of anything in the convenience store. Think about that when buying your Pepsi, lottery tickets, cigarettes, or Snickers bar. My favorite: bottled water.

Troy

[bull]

It has to absorbed somewhere and business owners aren't going to take it in the shorts.

But Exxon is expected to "give back" their profits right??? How about if they lower the prices to $1.30  and take a massive loss like those morons in Texas are demanding? Why would that be ok but it's not ok for other businesses to "take one for the team" for the benefit of hard working Americans? It's because they are businesses and if they don't make a profit they won't be in business for long. The costs associated with doing business are what sets the prices and that's not likely to change. I did find it interesting in the article linked above where they stated that gas has the lowest profit margin of anything in the convenience store. Think about that when buying your Pepsi, lottery tickets, cigarettes, or Snickers bar. My favorite: bottled water.

Troy

We're not talking about the costs associated with doing business, we're talking profit, ie. "the excess of returns over expenditure in a transaction." This is record profits at a time of record high gas prices. That's after all the R&D money, wages, transportation, etc. is taken out. Pepsi, lottery tickets, cigarettes, Snickers bars and bottled water are not the fuel that makes this nation produce most of the world's goods and services. I believe recession will strike if the oil prices don't at least level off. Maybe record oil company profits aren't the only factor but it is a big factor and another of course is the oil companies' inability to keep up with the demand here and in places like India and China. The long and short of it is we need alternative fuels and we need them now but we should not have to completely revamp the internal combustion engine to utilize them.

http://www.usatoday.com/money/economy/2006-04-27-energy-econ-usat_x.htm

[Troy]

My point was that people mainly only complain when it directly affects them (ie. price at the pump). They will then target the first entity that they can blame. Of course it's a much bigger issue but most people can't be bothered to actually do any research. I agree with you there. Record profits couldn't have anything to do with an improving economy I'm sure. The company I work for has just had the two strongest quarters ever and our profit margins are higher than Exxon.

Speaking of record profits:
Bank of America: even more than the projections of the most optimistic analysts
Wells Fargo and U.S. Bancorp
best-ever operating profits at Japan's five main auto makers
Apple: the highest revenue and earnings in its history
Canadian National Railway Co.:  record first-quarter profit... enjoyed brisk demand...
Caterpillar Inc.: sales surge sparked by ongoing global demand
JPMorgan Chase & Co. (yet another bank)
TheStreet.com: 43% rise in revenue
WestJet: best-ever first-quarter earnings (yep, it's an airline)
MGM: 31% jump in earnings and 65% boost in net revenue
Canon Inc.: seventh straight year of record profit

Yes, we need alternative fuels (about 10 years ago) and the first company to successfully develop a system will make so much money your head will spin. There's no point in doing it to lose money - that's the job of the government.

Troy

[71bee]

That $100 rebate check thing is dumb, just like that $400 child tax credit from a few years ago was dumb. How many people actually used that for something besides beer & pizza? Ok, in fairness, we actually used the $400 thing for part of our backyard fence, if I recall...but a hundred bucks is definite beer & pizza money.

Besides if they give everyone $100, you just KNOW they'll make up for it somewhere else. It won't just be handed out from the goodness of their hearts.

if I remember corectly, I had to pay back that $400.00 child tax credit with my tax return! aint that special?

[TruckDriver]

Got this this morning off my home page.....

LONDON (Reuters) - Oil climbed more than a dollar on Monday after a refinery fire in Italy added to fears     Iran's defiant pursuit of its nuclear program and violence in Nigeria will lead to a global fuel shortage.

IPE Brent crude futures stood 66 cents higher at $72.68 by 1111 GMT. Earlier they had risen more than a dollar to a session high of $73.05.

U.S. light, sweet crude jumped 59 cents to $72.47 a barrel, off a session peak of $72.85.

Prices were driven higher after a weekend fire that shut ERG (ERG.MI) group's 160,000 barrel per day (bpd) Impianti Nord refinery in Sicily renewed concerns about inadequate refining capacity.

"It's all to do with the refinery in Sicily," said Rob Laughlin of brokers Man Financial in London.

But he added that thin volume because of a public holiday in Europe and much of Asia was exaggerating price moves.

Concern about years of underinvestment in the refining sector, together with worries about disruption of unrefined crude, especially in Iran and Nigeria, has generated a sustained rally in oil prices.

[CaptMarvel]

The Govt. has their greedy tax fingers in everything & that alone adds .50-60 cents a gallon for all of us, but all the news and activists do is report on how evil & greedy the corporate execs & oil barons are (some is true no doubt) but the govt. is a big big big part of the real problem here folks...Why dont they start addressing the problem by drastically slashing taxes eh? yea right...Also, we need to physically tie up all the enviromental activists and go drill wherever we need to for our nations own good (offshore, Colorado, Anwar etc.)  That whole enviro slant is a joke. We are far more worse off for their involvment over the past 40 yrs and far more dependant on foreign oil.  Kind of like, look at this hand, while I stab you in the back with the other....

[bull]

My point was that people mainly only complain when it directly affects them (ie. price at the pump). They will then target the first entity that they can blame. Of course it's a much bigger issue but most people can't be bothered to actually do any research. I agree with you there. Record profits couldn't have anything to do with an improving economy I'm sure. The company I work for has just had the two strongest quarters ever and our profit margins are higher than Exxon.

Speaking of record profits:
Bank of America: even more than the projections of the most optimistic analysts
Wells Fargo and U.S. Bancorp
best-ever operating profits at Japan's five main auto makers
Apple: the highest revenue and earnings in its history
Canadian National Railway Co.:  record first-quarter profit... enjoyed brisk demand...
Caterpillar Inc.: sales surge sparked by ongoing global demand
JPMorgan Chase & Co. (yet another bank)
TheStreet.com: 43% rise in revenue
WestJet: best-ever first-quarter earnings (yep, it's an airline)
MGM: 31% jump in earnings and 65% boost in net revenue
Canon Inc.: seventh straight year of record profit

Yes, we need alternative fuels (about 10 years ago) and the first company to successfully develop a system will make so much money your head will spin. There's no point in doing it to lose money - that's the job of the government.

Troy

Well, IMO if the oil companies are able to turn such high profits they should be (and should have been) spending a lot more on R&D for alternative fuels. To put this nation in the quandary it's in right now, with no end in sight, is inexcusable and irresponsible. I don't know if it's their fault or the government's but it's foolishness to say the least.

[BigBlackDodge]

My point was that people mainly only complain when it directly affects them (ie. price at the pump). They will then target the first entity that they can blame. Of course it's a much bigger issue but most people can't be bothered to actually do any research. I agree with you there. Record profits couldn't have anything to do with an improving economy I'm sure. The company I work for has just had the two strongest quarters ever and our profit margins are higher than Exxon.

Speaking of record profits:
Bank of America: even more than the projections of the most optimistic analysts
Wells Fargo and U.S. Bancorp
best-ever operating profits at Japan's five main auto makers
Apple: the highest revenue and earnings in its history
Canadian National Railway Co.:  record first-quarter profit... enjoyed brisk demand...
Caterpillar Inc.: sales surge sparked by ongoing global demand
JPMorgan Chase & Co. (yet another bank)
TheStreet.com: 43% rise in revenue
WestJet: best-ever first-quarter earnings (yep, it's an airline)
MGM: 31% jump in earnings and 65% boost in net revenue
Canon Inc.: seventh straight year of record profit

Yes, we need alternative fuels (about 10 years ago) and the first company to successfully develop a system will make so much money your head will spin. There's no point in doing it to lose money - that's the job of the government.

Troy

Well, IMO if the oil companies are able to turn such high profits they should be (and should have been) spending a lot more on R&D for alternative fuels. To put this nation in the quandary it's in right now, with no end in sight, is inexcusable and irresponsible. I don't know if it's their fault or the government's but it's foolishness to say the least.

Why would an oil company be interested in finding alternative fuels...................they wouldn't be selling as much oil then and making the kind of cash they're raking in. Are they trying to find a way to put themselves out of business or a create a competitor for their profit potential? I think not.  I think they're just trying to justify their greed at our expense. Alot of that cash goes to finding more oil...........not an alternative to it. Why shoot yourself in the foot when the world bows you?

BBD

[bull]

My point was that people mainly only complain when it directly affects them (ie. price at the pump). They will then target the first entity that they can blame. Of course it's a much bigger issue but most people can't be bothered to actually do any research. I agree with you there. Record profits couldn't have anything to do with an improving economy I'm sure. The company I work for has just had the two strongest quarters ever and our profit margins are higher than Exxon.

Speaking of record profits:
Bank of America: even more than the projections of the most optimistic analysts
Wells Fargo and U.S. Bancorp
best-ever operating profits at Japan's five main auto makers
Apple: the highest revenue and earnings in its history
Canadian National Railway Co.:  record first-quarter profit... enjoyed brisk demand...
Caterpillar Inc.: sales surge sparked by ongoing global demand
JPMorgan Chase & Co. (yet another bank)
TheStreet.com: 43% rise in revenue
WestJet: best-ever first-quarter earnings (yep, it's an airline)
MGM: 31% jump in earnings and 65% boost in net revenue
Canon Inc.: seventh straight year of record profit

Yes, we need alternative fuels (about 10 years ago) and the first company to successfully develop a system will make so much money your head will spin. There's no point in doing it to lose money - that's the job of the government.

Troy

Well, IMO if the oil companies are able to turn such high profits they should be (and should have been) spending a lot more on R&D for alternative fuels. To put this nation in the quandary it's in right now, with no end in sight, is inexcusable and irresponsible. I don't know if it's their fault or the government's but it's foolishness to say the least.

Why would an oil company be interested in finding alternative fuels...................they wouldn't be selling as much oil then and making the kind of cash they're raking in. Are they trying to find a way to put themselves out of business or a create a competitor for their profit potential? I think not.  I think they're just trying to justify their greed at our expense. Alot of that cash goes to finding more oil...........not an alternative to it. Why shoot yourself in the foot when the world bows you?

BBD

Many successful corporations succeed by diversifying. 3M succeeds by producing more than one type of chemical, Microsoft succeeds by creating more than one type of software, Dodge succeeds by creating more than one type of car, investors diversify stock so they don't have to rely on one investment to make profit, etc. Oil companies could offset any profit losses by creating volume in many different areas rather than monopolizing a particular natural resource and putting all their eggs in one basket. Who do you think would be the first to jump on the bandwagon if marijuana was legalized? Phillip-Morris and all their competitors, that's who. As is stands right now the oil companies really are putting themselves out of business because they are overleveraged with one particular product and that one particular product happens to be in limited supply. That said you can bet they've done their homework and have a good idea how much untapped oil remains, how much we'll spend per gallon before consumption drops and how to quickly get alternative fuels on the market. They apparently haven't reached the point of critical mass yet, at least in their opinion.

One other thing regarding your comment regarding money spent on researching new sources of oil: I'm sure you know this but all that money is spent before they figure their profits.

[Troy]

One example, Google: BP alternative fuel

I don't have time to do other people's research. I'm glad someone has "done their homework" though...

Troy

[bull]

One example, Google: BP alternative fuel

I don't have time to do other people's research. I'm glad someone has "done their homework" though...

Troy

Your example is good but basically all the official BP website says is that it is supposedly stepping up its search for alternative fuels. IMO it's just a PR stunt because we're not talking about rocket science, there are plenty of alternative fuel options that have been around since the advent of cars. Here's my example, Google: ethanol. Pick a link and read about how people can make the stuff in their own back yards. Now seriously, why do you think the oil companies are unable to do what some redneck can do with a still in his barn? It's simple, they haven't finished milking the world's ecomony for all it's worth.

[myk]

And those oil companies will continue milk us as long as we don't change the way we live our lives, for starters.

On an indurstrial level we could build a few more refineries and increase oil production, after all oil isn't in short supply it's our bottlenecked production capacity, but the Environmental Protection Agency has made it impossible to step anywhere without fear of injuring some endangered worm, let alone build a refinery, so gas companies will gladly ramp up prices for the increased demand.

On the civilian level, people could be smarter and drive slower, and more responsibly; instead, it's like the autobahn on every freeway. 

With people living this way it seems to me that people generally don't care about the rising cost of gas, so I hope prices keep going higher and higher and higher and higher and higher-I applaud the ability of oil companies to make money on so much stupidity...

[Troy]

If you read closely it states that BP will spend up to $8 billion over the next ten years. The reason they are investing that kind of cash is because they are expecting about $6 billion per year revenue for an ROI of about 15%. Then people can complain about BP gouging them for the price of wind and sun....

Oil companies do not make people buy their products. You can't have cheaper prices while buying up more than they can make either. Find a better source of energy (ie. compete) or find a way to be more efficient to lower the demand. It's not really that difficult but, as far as I can tell, people are not willing to make any sort of sacrifice whatsoever. I certainly wouldn't expect the oil companies (or the government) to find a solution that will put them out of business.

Troy

[bull]

If you read closely it states that BP will spend up to $8 billion over the next ten years. The reason they are investing that kind of cash is because they are expecting about $6 billion per year revenue for an ROI of about 15%. Then people can complain about BP gouging them for the price of wind and sun....

Oil companies do not make people buy their products. You can't have cheaper prices while buying up more than they can make either. Find a better source of energy (ie. compete) or find a way to be more efficient to lower the demand. It's not really that difficult but, as far as I can tell, people are not willing to make any sort of sacrifice whatsoever. I certainly wouldn't expect the oil companies (or the government) to find a solution that will put them out of business.

Troy

$8 billion certainly is a lot to spend... on PR. I can't see how anyone with a brain could spend that much on on R&D and still come up with nothing. I wish they'd pay me the $8 billion and I'd Google the word "ethanol" and start printing page after page of useful information. I just read in the newspaper this morning where Sen. McCain said oil companies have worse PR right now than Satanic cults, so you can see why you might be fighting a losing battle by telling us how awesome oil companies are. They offer up the ONLY mass-produced source of internal combustion propulsion fuel, the ONLY common type of fuels that can be found on both ends of the nation, and they're gouging us for it with very little mercy. Am I supposed to consider diesel an alternative fuel? God forbid it run gas engines or we would have a little of that diversity I mentioned in a post above. Which is another question of mine you didn't answer and that's why can't the oil companies mass-produce something (ethanol or methanol) a hillbilly can make in his own shed? What's going on here is price-fixing. We are paying for the oil companies laziness and ineptitude in the area of research and development and they are stonewalling because they can, and because the politicians have let them. But things are rapidly changing. Even Texas Republican John Comyn, a big time oil co. supporter, said the oil companies might have to give up subsidies and incentives in light of the "extraordinarily high profits." First off I'm appalled  that they receive subsidies, and second, I'm glad that even a Texas senator and oil company supporter can see where the oil companies might need to change their ways. Don't tell me you're more hard-headed than a Texas oil man, Troy.

[MichaelRW]

If anyone is being gouged with the current gas prices, the federal government is sure a lot more guilty than big oil. All the media spouts about is the obscene profits that companies like ExxonMobil made in the last quarter. What they fail to tell us is the rest of the story. ExxonMobil's profits were stated by the media on last Thursday's three network morning shows at $8.4 billion. But not stated was the fact that the US government raked in more than $7 billion from ExxonMobil during the first quarter of 2006. That's $2 billion more than the same period last year. (Do you hear any politician whining about this?)

Add $7.6 billion in excise taxes, the gas tax, that Exxon collects for the government during the same quarter. Add to that another $11 billion in "other" taxes and the amount is now up to over $25 billion from just Exxon to the US government for one quarter.

Now, some politicians are yammering about taking more taxes from the oil companies and guess who will ultimately pay for that, yes, you and me.

Don't get me wrong, I don't like the high price of a gallon of gasoline anymore than any of you guys but when the feds profit almost 3 times that of Exxon, something is very wrong.

My source for this information is from The Media Research Center & the Associated Press.

[Charger_Fan]

I just read in the newspaper this morning where Sen. McCain said oil companies have worse PR right now than Satanic cults,

I think McCain's just glad that he's no longer in the lead for the worst PR.

[Troy]

Bull, you wouldn't be happy if the oil companies spent every last cent of their profits figuring out how to make fuel from recycled candy wrappers, paid off the national debt, and cured cancer. Are you one of those people who always thinks that "they" should do something to make your life better? It's a waste of my time to even point out anything that may actually have some basis in reality (where I live) so I don't bother posting the rest of the links. It's really not that hard to look up facts instead of posting opinions. If any "hillbilly" can make ethanol and run a car then why are you wasting your time complaining? Take some initiative and get out and start making your own, become an entrepreneur, sell it for a profit, and knock those big oil guys out of business. Also, politicians will say whatever it takes to make the sheeple keep them in office (see the link I posted above). No more needs to be said about that. I never said oil companies were awesome but I was trying to point out some simple economics. If you can prove they are gouging then go win yourself some money in a lawsuit. Good luck with that. I hate the gas prices as much as anyone but I fail to see where any company is required to spend a dime on R&D. It's possible that the government has some stipulations but, over all, I'm pretty sure it's up to each company to make decisions that impact their bottom line - and their future. Exxon's "ineptitude" has made them the largest oil company in the US precisely because their R&D in other areas is so good. Stick with what you're good at and you can be successful. When the oil market crashes they may have serious problems due to their lack of foresight and I won't feel sorry for them at all. BP is acting smarter because they already have a foothold in hydrogen and wind turbine technology as well as some other cool stuff. Diversity should keep them profitable for a long time.

You should know by now - I'm only hard headed as long as I'm right. Once someone shows me a flaw in my logic or a better way to accomplish a task then I'm more than willing to change the way I think and act. Of course, that only happens if the person has actual facts to support their position and can do a passable job at explaining it. Guesses, assumptions, conjecture, opinions, theories, suspicions, and dreams of a perfect happy world are mostly useless if you're trying to change my mind.

realist
n 1: a philosopher who believes that universals are real and exist independently of anyone thinking of them 2: a person who accepts the world as it literally is and deals with it accordingly 3: a painter who represents the world realistically and not in an idealized or romantic style

See also:http://thesaurus.reference.com/search?q=realistic

Troy

[Mike DC]

 
Oil is oil.  The price of gas is hardly any higher than what it costs to buy 2% milk in the same quantity.

I don't blame Big Oil for raking it in, but I blame the gov't for paying for the infrastructure we need to keep using so much oil. 

We're subsidizing driving.  We have been for decades.


 

[bull]

Troy, you think I'm a dreamer but I think I'm the opposite. I honestly don't have any problem whatsoever with individuals and corporations making as much money as possible until it collides with good ethics and the ethical issues I see with the current situation are: 1. This nation depends on reasonably-prices gas and diesel to thrive and survive. 2. There is no plan B in place that could fill the potential gap, which is irresponsible and short-sighted and 3. Our dependence on oil has forced us to basically fund the Middle Eastern terrorists. The reason I don't site "facts" as you put it is because I am speculating on the future and the only facts I can site are more opinions that spell out doom and gloom for the American public. If you want me to site the opinions of experts I can do that for you. In fact I forget who it was now but I was reading something a couple days ago where an industry expert said he believes it will be three years before the oil companies can regain control of the oil prices. As I said regarding the making of a still, I can't do that in the back yard of my suburban neighborhood and I bet there's no way in hell any government entity, local or otherwise, would allow me to do it even if I had four acres to burn down, but BP or Exxon could easily do it as an alternative to $3/gallon gas. If they were to sell gas at $2/gal. and ethanol at $2/gal they would probably be even more profitable than they are now selling just one type of product, but they refuse to do the responsible thing and plan for the beginning of their own demise. They don't want to lay down the money to basically keep their heads above water should the bottom happen to fall out. Maybe BP is different and I applaud them if they are but I just can't help but think a majority of the big oil companies are just trying to get all they can while the gettin' is good. I've been wrong before though.

Oil is oil. The price of gas is hardly any higher than what it costs to buy 2% milk in the same quantity.

I don't blame Big Oil for raking it in, but I blame the gov't for paying for the infrastructure we need to keep using so much oil.

We're subsidizing driving. We have been for decades.

Milk costs me $2/gal. and I don't go through 30 gallons a week. Milk doesn't take me to work, transport my kids to school, take injured people to the hospital, operate the city's transit system and power the generators when the electricity goes out. I blame big oil and the government for this mess. As usual our "leaders" have put us on defense rather than offense.

[Mike DC]

 
I hear that milk is more like $2.70-3.00 a gallon on the east coast.  Boston is having trouble lately.

-----------------------------------------------------

I'm just saying that I wish we'd make up our minds about what gasoline is to America at this point:

--  If Big Oil really has the right to make whatever profit they want in the free market, then we as a people can just "stop using it" whenever it gets too high.  Supply & demand, right?  No price controls, no rules about price-gouging at all.  Gasoline can can fly up to $10/gallon if we'll pay for it, and there's nothing morally wrong with this.

--  If we don't like that situation, then we're basically declaring oil to be more of a "utility" that is nessecary for modern life like electricity & water.  So therefore we have the right not to get gouged on the price of oil, just like we have our water & electricity prices regulated.  That demands some gov't control of (and PROFIT limits on) the oil industry.

 

[bull]

 
I hear that milk is more like $2.70-3.00 a gallon on the east coast.  Boston is having trouble lately.

-----------------------------------------------------

I'm just saying that I wish we'd make up our minds about what gasoline is to America at this point:

--  If Big Oil really has the right to make whatever profit they want in the free market, then we as a people can just "stop using it" whenever it gets too high.  Supply & demand, right?  No price controls, no rules about price-gouging at all.  Gasoline can can fly up to $10/gallon if we'll pay for it, and there's nothing morally wrong with this.

--  If we don't like that situation, then we're basically declaring oil to be more of a "utility" that is necessary for modern life like electricity & water.  So therefore we have the right not to get gouged on the price of oil, just like we have our water & electricity prices regulated.  That demands some gov't control of (and PROFIT limits on) the oil industry.

 

It is a utility but it's a utility that's also used for non-essential activities. As everyone knows, oil is used for both recreation and business because it powers our commuter cars to take us to work and it powers our Chargers when we play. Some people view higher gas prices as a sin tax that only effects those evil SUV and boat owners and yet it's a vital element in keeping this nation alive for people who make a living in areas effected by transportation. This is a big country and we need reasonably prices oil products for the trains, planes and automobiles to move goods from here to there and keep our economy going. Other than planning my trips (which I already do), burning three hours of my day riding the bus to work instead of the usual 40 minutes or going into debt on the purchase of a Prious or motorcycle, I don't know how to curb my gasoline usage any more than I already do. Other than my lawnmower I don't use gas for non essential activities. That is, until I get my Charger running. And in all honesty I wouldn't mind paying $4/gallon for that because it's not necessary.

[71440charger]

i dont care if it is $30 a gallon i am still driving my charger 

[Mike DC]

This is a big country and we need reasonably prices oil products for the trains, planes and automobiles to move goods from here to there and keep our economy going

I agree.  I think it's pretty close to "utility" status at this point.
And if this is true, then the argument that the oil industry has a right to charge whatever we'll pay for our oil is no longer valid.


But right now I still think the gas prices are not that high in the big picture.  We've got big problems at $3/gallon because we're rediculously dependent on rediculously cheap gas.  I don't want the transporation costs for everyone to suddenly rocket upward, but I also think we've got to break the cycle we're in somehow. 

We had a big scare in 1973 and another one in 1980, but it seems that we haven't learned a thing.  We're still in the huge cars & trucks and still building our cities more spread out than ever.  It's so bad . . . I don't think most of America even realizes there's anything wrong with this picture anymore.

It's not just the huge SUVs that are the problem.  Even our "average" cars & motorcycles are total gashogs by other countries' standards. 
This gas crisis makes us wish we'd bought V6's instead of V8's.  But in Europe, they're looking at their V6's and wishing they'd bought 4-bangers.  We're looking at buying "reasonable" 750cc motorcycles while they're looking at buying Mopeds. 

In America we've got an automotive culture that's pretty unique.

[bull]

Well yea, we've got to look cool while we're driving our motorcycles and SUVs. Good fuel mileage is ok but it's not as high a priority as looking cool and/or riding in style.