What's going on with gas prices?
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1998 wins.
4WD
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And it was not long ago oil prices tanked and these companies used a ton of reserve cash to level load things … and not all producers stayed in business … while Wall Street plays paper … you can't make jet fuel or Delo HDEO from paper …
It's a risky business to explore (like one in ten), produce, refine, transport, and market these commodities …
In fact … everyone of them is both flammable and toxic … what's in your risk profile … ?
It's a risky business to explore (like one in ten), produce, refine, transport, and market these commodities …
In fact … everyone of them is both flammable and toxic … what's in your risk profile … ?
Originally Posted by oil_film_movies
1998 wins.
Perhaps OPEC wins?
And what was the cost of those oil wars?
1998 wins.
Perhaps OPEC wins?
And what was the cost of those oil wars?
Originally Posted by JeffKeryk
Let's see... The mid price in Los Gatos for a home like mine is close to $2M.
There a lotsa houses here, so I guess I will sell mine for half.
Prices are set by the market. They have the oil; we want it and we pay and pay and pay.
Heckuva business model...
Oil industry profits are gargantuan; they are at all time highs.
They were defined as "huge" and "excessive" back in the 1980s when prices spiked. Congressional hearings were held.
But what is "gargantuan"?
Seriously?
XOM, for example, has a profit margin of 7-9% over the past few years.
For many industries, that's low. The number of dollars that XOM profits is a big number, but that's because of big revenues. On the margin, they're about the same, as say, Delta Airlines.
Or, slightly below Ford, or Mercedes Benz....
So, not really that big
Let's see... The mid price in Los Gatos for a home like mine is close to $2M.
There a lotsa houses here, so I guess I will sell mine for half.
Prices are set by the market. They have the oil; we want it and we pay and pay and pay.
Heckuva business model...
Oil industry profits are gargantuan; they are at all time highs.
They were defined as "huge" and "excessive" back in the 1980s when prices spiked. Congressional hearings were held.
But what is "gargantuan"?
Seriously?
XOM, for example, has a profit margin of 7-9% over the past few years.
For many industries, that's low. The number of dollars that XOM profits is a big number, but that's because of big revenues. On the margin, they're about the same, as say, Delta Airlines.
Or, slightly below Ford, or Mercedes Benz....
So, not really that big
Originally Posted by 4WD
And it was not long ago oil prices tanked and these companies used a ton of reserve cash to level load things … and not all producers stayed in business … while Wall Street plays paper … you can't make jet fuel or Delo HDEO from paper …
It's a risky business to explore (like one in ten), produce, refine, transport, and market these commodities …
In fact … everyone of them is both flammable and toxic … what's in your risk profile … ?
Oil companies profit is rather small and the state owned "companies" make a lot higher profit then say little XOM.
And it was not long ago oil prices tanked and these companies used a ton of reserve cash to level load things … and not all producers stayed in business … while Wall Street plays paper … you can't make jet fuel or Delo HDEO from paper …
It's a risky business to explore (like one in ten), produce, refine, transport, and market these commodities …
In fact … everyone of them is both flammable and toxic … what's in your risk profile … ?
Oil companies profit is rather small and the state owned "companies" make a lot higher profit then say little XOM.
Not exactly sure whats going on with fuel prices.
I do know that rising fuel prices slow down the economy in the same way that a rising bank rates does.
I do know that rising fuel prices slow down the economy in the same way that a rising bank rates does.
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Originally Posted by Benzadmiral
...
Small detail: The 1973-74 price jump was from about .29/gal. to ca. .55/gal., not up to a whole dollar. At least not here in the South. ....
I was a gas pumper when the first embargo hit, and here it went from 22 or 23 cents / gallon to 47.9 / gallon and boy, were people [censored] off. They acted like it was the end of the world. They treated me like I was the man, and personally getting filthy rich off that gas, when the reality was, I was just ... filthy, because I also had to dig out the car wash pits when they filled up with mud, and haul trash drums to the dump ...
I think my motorcycle held about a gallon, more or less, so it didn't affect me much,
The second jump in the mid 70's was the transition to unleaded fuel, best I recall, but I had a "clean" indoor job and was no longer pumping after 1975, or so.
I have a three wheel mechanical pump in my car shop that is still set at 33.9 when it was removed from service, probably early 70's ...
...
Small detail: The 1973-74 price jump was from about .29/gal. to ca. .55/gal., not up to a whole dollar. At least not here in the South. ....
I was a gas pumper when the first embargo hit, and here it went from 22 or 23 cents / gallon to 47.9 / gallon and boy, were people [censored] off. They acted like it was the end of the world. They treated me like I was the man, and personally getting filthy rich off that gas, when the reality was, I was just ... filthy, because I also had to dig out the car wash pits when they filled up with mud, and haul trash drums to the dump ...
I think my motorcycle held about a gallon, more or less, so it didn't affect me much,
The second jump in the mid 70's was the transition to unleaded fuel, best I recall, but I had a "clean" indoor job and was no longer pumping after 1975, or so.
I have a three wheel mechanical pump in my car shop that is still set at 33.9 when it was removed from service, probably early 70's ...
As my stepdad says "oil is cheap, quit whining"
Originally Posted by grampi
Here in IL we're now at $2.99 and will probably be north of $3 soon. Supplies are plentiful, yet prices keep going up. What gives?
Grampi, you have often posted about gasoline prices, but I think you misunderstand microeconomics and the way in which the industry operates.
Markets must clear, so if the supply of gasoline really were plentiful, then gasoline prices would have to fall to a level that would clear that glut of product. There simply isn't that much capacity in which to store refined product. The "storage" is in the form of pipelines and tankers bringing volumes of fuel to market.
This leads to my primary point:
The industry operates on throughput. The oil is recovered, shipped to refineries and then processed into a range of products. It is then mostly shipped directly on to final users. There isn't enough storage capacity to hold much output.
A fun little factoid that illustrates this is that there isn't enough refined product available at any given time for all of us to fill all of our fuel tanks.
Here in IL we're now at $2.99 and will probably be north of $3 soon. Supplies are plentiful, yet prices keep going up. What gives?
Grampi, you have often posted about gasoline prices, but I think you misunderstand microeconomics and the way in which the industry operates.
Markets must clear, so if the supply of gasoline really were plentiful, then gasoline prices would have to fall to a level that would clear that glut of product. There simply isn't that much capacity in which to store refined product. The "storage" is in the form of pipelines and tankers bringing volumes of fuel to market.
This leads to my primary point:
The industry operates on throughput. The oil is recovered, shipped to refineries and then processed into a range of products. It is then mostly shipped directly on to final users. There isn't enough storage capacity to hold much output.
A fun little factoid that illustrates this is that there isn't enough refined product available at any given time for all of us to fill all of our fuel tanks.
Maybe expand Cushing, Oklahoma storage tanks.... ?
x4 or x5... ?
Maybe Grampi should not buy a Corvette due to gas prices.
x4 or x5... ?
Maybe Grampi should not buy a Corvette due to gas prices.
Profits profits profits...
Most profitable company in the world...
Most profitable company in the world...
Originally Posted by Mr Nice
Maybe expand Cushing, Oklahoma storage tanks.... ?
x4 or x5... ?
Maybe Grampi should not buy a Corvette due to gas prices.
Really? What business is it of yours what I buy? Maybe you should not buy any vehicle that doesn't gets at least 30 MPG, or sell any you have now...see how ridiculous that sounds?
Maybe expand Cushing, Oklahoma storage tanks.... ?
x4 or x5... ?
Maybe Grampi should not buy a Corvette due to gas prices.
Really? What business is it of yours what I buy? Maybe you should not buy any vehicle that doesn't gets at least 30 MPG, or sell any you have now...see how ridiculous that sounds?
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4WD
$50 site donor 2024
Originally Posted by grampi
Originally Posted by Mr Nice
Maybe expand Cushing, Oklahoma storage tanks.... ?
x4 or x5... ?
Maybe Grampi should not buy a Corvette due to gas prices.
Really? What business is it of yours what I buy? Maybe you should not buy any vehicle that doesn't gets at least 30 MPG, or sell any you have now...see how ridiculous that sounds?
Not sure what year the car in question is - but V4 AFM works well in the streamlined Vette - but not nearly as well in my box shaped PU truck ...
They get pretty good gas mileage when you are not stomping on them - and if you stomp on them, you were in the mood for MPH, not MPG ...
Originally Posted by Mr Nice
Maybe expand Cushing, Oklahoma storage tanks.... ?
x4 or x5... ?
Maybe Grampi should not buy a Corvette due to gas prices.
Really? What business is it of yours what I buy? Maybe you should not buy any vehicle that doesn't gets at least 30 MPG, or sell any you have now...see how ridiculous that sounds?
Not sure what year the car in question is - but V4 AFM works well in the streamlined Vette - but not nearly as well in my box shaped PU truck ...
They get pretty good gas mileage when you are not stomping on them - and if you stomp on them, you were in the mood for MPH, not MPG ...
Second day of $3.19 .
I just paid $3.69 for mid grade gas in Silicon Valley at a Texaco.
Of course CA wanna be Premium was 10 or 20 cents more...
Ouch!
Of course CA wanna be Premium was 10 or 20 cents more...
Ouch!
Originally Posted by 53' Stude
As my stepdad says "oil is cheap, quit whining"
Compare to everything else in life, it is a bargain. The rest of the world is often paying double.
As my stepdad says "oil is cheap, quit whining"
Compare to everything else in life, it is a bargain. The rest of the world is often paying double.
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Originally Posted by grampi
The way you guys talk, they might as well just raise the price to $10 a gallon...if you want to get rid of your money this badly, you can send it to me instead of paying for oil exec's lavish pensions...
This is another post which makes no sense two in 15 minutes. It must be a crazy day in the world.
The way you guys talk, they might as well just raise the price to $10 a gallon...if you want to get rid of your money this badly, you can send it to me instead of paying for oil exec's lavish pensions...
This is another post which makes no sense two in 15 minutes. It must be a crazy day in the world.
Gas went down 6 cents a gallon here. Collusion?? Who's responsible?
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