Fat cats get fatter

[crzyjournalist03]

Shell and BP post off-the-charts profits in the first quarter:

http://news.yahoo.com/s/ap/20080429/ap_on_bi_ge/earns_oil

[Old Dog]

I'm thunder-struck, who would have thought it!

[LH Panther Mom]

A couple of things just made me say ARRRGGGHHHH!

Shell's Chief Financial Officer Peter Voser said oil companies are not to blame.

"We don't understand the oil price at this stage," he said. "The fundamentals will not justify an oil price as we see it at the moment."
Right....... :rolleyes: :rolleyes:

Chief Executive Tony Hayward, who took over from John Browne a year ago, has focused on bringing new production and refining capacity on line to improve earnings.

"At last, it appears that BP is beginning to improve its operational performance and this looks set to drive a stronger financial performance in the second half," said Tony Shephard, analyst at Charles Stanley & Co.
Improve earnings????? 63% increase in profits and you feel the need to have a stronger financial performance?


:mad:

[injuredinmelee]

Originally posted by crzyjournalist03
Shell and BP post off-the-charts profits in the first quarter:

http://news.yahoo.com/s/ap/20080429/ap_on_bi_ge/earns_oil


Congrats to both Shell and BP. Make it when and where you can.

[c-town_balla]

They could imporve earning while lowering prices by instituting newer refining systems that are more efficient and reliable.

[injuredinmelee]

Originally posted by c-town_balla
They could imporve earning while lowering prices by instituting newer refining systems that are more efficient and reliable.

how long would that take? Wouldnt all that cost money that would force them to push the costs onto us in the form of gasoline prices?

I do agree with you owever. I know BP is pushing the biodeisel and has put and promise alot of money into it but isnt that going to drive up the price on corn?

[c-town_balla]

They are going to push what ever "looks good" and is profitable
Like Ethenol or w.e.
Ethenol is not going to be the answer. It makes as much greenhouse gases as gasoline and any savings in gas will be lost in food prices. The high corn prices are already making food more expensive.

I don't know what the refining companies don't build some new refineries. It would be expensive but, it would be so much more porfitible. The current refineries have to be shut down for months jus to be prepared for the summer driving season.

[LH Panther Mom]

Originally posted by injuredinmelee
Congrats to both Shell and BP. Make it when and where you can.
I have no problem with people and companies making money. But to increase "sales" by 55% and then say "it's not our fault gas prices are so high". Pssssshhhhhhh! :hand: :hand:

[Adidas410s]

Originally posted by LH Panther Mom
I have no problem with people and companies making money. But to increase "sales" by 55% and then say "it's not our fault gas prices are so high". Pssssshhhhhhh! :hand: :hand:
It's not their fault at all...they're selling gas at a price that the market will pay.

[RMAC]

I'd give you even money that all the world's major oil companies are putting billions into research for alternate forms of energy. Let's think about this, honestly. We WILL run out of oil one day, it's only a question of when. Personally, I feel that we, the US, have such a love for it that we will drill anywhere and everywhere and be confident that there is not a drop left on the planet before we become completely oil independent, but that's just me. Back to my original point though. These companies want to be here in a 75-100 years when the oil is gone. They are going to be the ones that come up with new ways to power our lives. It's not like they're going to say, "Well boys, we had a good run, but there's not oil left, we drilled it all." I'm not a business major or anything, but I'm pretty sure businesses are interested in staying in business, and the kids majoring in petroleum engineering all over the world are going to be the ones that come up with these solutions. Am I justifying oil prices? No, but they're putting me through college and you won't hear a word about it from me. I also remember being 8 years old and tearing paper towels in half, so yes, it is an up and down business. It's just up right now. I could be wrong, but I believe that if you look at the prices in the early 80's and adjust for inflation, it is still cheaper now. I had a pretty credible source tell me that, and no, he is in no way associated with the oil industry.

[turbostud]

When are the politicians going to step in and do something? They are more worried about steroids in baseball and the Patriots cheating scandal than high gas prices.

[injuredinmelee]

Originally posted by turbostud
When are the politicians going to step in and do something? They are more worried about steroids in baseball and the Patriots cheating scandal than high gas prices.

When will they step into your industry and place caps on your earnings?

[RMAC]

Originally posted by injuredinmelee
When will they step into your industry and place caps on your earnings?

Amen Injured. Free-market economies are cool.:D

[Phil C]

Originally posted by turbostud
When are the politicians going to step in and do something? They are more worried about steroids in baseball and the Patriots cheating scandal than high gas prices.

I agree turbo. I am more worried about higher and higher gasoline prices and lives lost in Iraq than I am about what some politician's pastor says.

[Phil C]

"Don't be surprised if the fat cats use the California brush fires to raise the prices even more like they used a hurricane a few years ago." said the Sinton GodFather while on his way to the snack bar for a cup of coffee.

[Ingleside Fan]

At least the oil companies produce something to sale and benefit the economic engine of the United States.

The government gets Trillions of dollars from us and the oil companies for doing nothing.
:smoker:

[Phil C]

Originally posted by Ingleside Fan
At least the oil companies product something to sale and benefit the economic engine of the United States.

The government gets Trillions of dollars from us and the oil companies for doing nothing.
:smoker:

But they aren't giving anything to the poor folks paying these outrageous gasoline prices at the pump.

[Ingleside Fan]

Originally posted by Phil C
But they aren't giving anything to the poor folks paying these outrageous gasoline prices at the pump.

Companies should not be expected to give back anything.

The concept they we are intitled to get something for nothing is what is wrong with our society.

[c-town_balla]

and its not like the oil companies control the price. International comodity markets control that.
What do you want them to do? Get a 55 gallon drum of oil for $120 or 2.18 a gallon and just charge that for gas? That means they get about a dollar fifty per gallon of oil. IF they own the gas station as well. So that a 1.50 to pay for refining and transport of oil to gas.....its not like they are making ten bucks a gallon profit or somthing.

If you wanna blame some one blame the weak U.S. dollar

[Ingleside Fan]

Originally posted by c-town_balla
If you wanna blame some one blame the weak U.S. dollar

:iagree:

[JasperDog94]

Originally posted by Phil C
But they aren't giving anything to the poor folks paying these outrageous gasoline prices at the pump. Where do you think the money for welfare, food stamps, and unemployment comes from?

[nobogey72]

I just hope that Black_Magic doesn't find this thread.:rolleyes: :rolleyes:

[Ingleside Fan]

Originally posted by nobogey72
I just hope that Black_Magic doesn't find this thread.:rolleyes: :rolleyes:

Please we need a good argument with a socialist today!:evilgrin: