More Fat Cats Greed!

[Phil C]

Our gasoline industries are making big profits yet everyone blames the Arabs for the high prices. It would seem like the Arabs would be making the big profits instead of the Fat Cats who are making good and getting big fat bonuses.

Anyway the local Valero would give away free coffee the day after a Spurs win but the fat cats found out about it and put a stop to it. Besides getting greedy and overcharging for gasoline they want coffee profits.

"Why does this not surprise me?" said the Sinton GodFAther while on his way to the snack bar for a cup of coffee that won't be used by the fat cats.

[Black_Magic]

Heck you can go to Mexico and buy it for $2 a gallon still. they are sticking it to us. Its time for the winfall profits tax to kick in. If it was ever time to kick in its now. Record profits quarter after quarter. CEOs are sure doing good. Blue collar america is strugling. But we need to Lean HEAVILY on OPEC to raise production as well. not just be nice and ask. Sure we should be as nice as we can about it but remind them of the troops of Iraq that were poised to invade saudia arabia in 1990 before we blew them away. Proper Gratitude would be to increase production NOT stick it to us.

[Adidas410s]

http://www.holditupforridicule.com/fatcat.jpg

[Adidas410s]

Originally posted by Black_Magic
Heck you can go to Mexico and buy it for $2 a gallon still. they are sticking it to us. Its time for the winfall profits tax to kick in. If it was ever time to kick in its now. Record profits quarter after quarter. CEOs are sure doing good. Blue collar america is strugling. But we need to Lean HEAVILY on OPEC to raise production as well. not just be nice and ask. Sure we should be as nice as we can about it but remind them of the troops of Iraq that were poised to invade saudia arabia in 1990 before we blew them away. Proper Gratitude would be to increase production NOT stick it to us.
Prove that it's price gouging...I'd love to see you try. Do I need to break out my supply and demand graphs as well as dive into the ever weakening dollar that is causing this problem??? Oil futures are traded in USD...as the USD gets weaker...the price goes up as a result because it costs more USD's to buy the same amount of oil.

[eppy 12]

Originally posted by Adidas410s
http://www.holditupforridicule.com/fatcat.jpg http://i97.photobucket.com/albums/l239/eppy12/boog.jpg

[BILLYFRED0000]

Originally posted by Adidas410s
Prove that it's price gouging...I'd love to see you try. Do I need to break out my supply and demand graphs as well as dive into the ever weakening dollar that is causing this problem??? Oil futures are traded in USD...as the USD gets weaker...the price goes up as a result because it costs more USD's to buy the same amount of oil.

I am afraid that is the main culprit. It is a catch 22. Weaker dollar means more exports but more expensive imports. I think in the long run they should strengthen the dollar but Bush has always believed in a weak dollar strategy. I disagree but at least understand the logic and an arguement can be made both ways.

[Johnny Utah]

Key word here is Valero. IS VALERO A US COMPANY?? CITGO?? BRITISH PETROLEUM??? We have tons of reserves but we are TOO politically correct to go after them. We are our own worst enemy!!!

[JasperDog94]

Originally posted by Black_Magic
Heck you can go to Mexico and buy it for $2 a gallon still. they are sticking it to us. Its time for the winfall profits tax to kick in. If it was ever time to kick in its now. Record profits quarter after quarter. CEOs are sure doing good. Blue collar america is strugling. But we need to Lean HEAVILY on OPEC to raise production as well. not just be nice and ask. Sure we should be as nice as we can about it but remind them of the troops of Iraq that were poised to invade saudia arabia in 1990 before we blew them away. Proper Gratitude would be to increase production NOT stick it to us. Why stop with the oil companies? Why not tax all companies that make over a certain amount of profit? I'm all for the government taking profits away from companies that have earned it.:rolleyes: :rolleyes: :rolleyes:

How about we start drilling off shore and in ANWAR and that increase supply, which in turn will lower prices? But noooooooo. The wacko environmentalists won't let us. They scream every time we try to drill for oil saying that it "could" cause a disaster.

Did you know: During hurricanes Katrina and Rita that over 1000 oil wells in the Gulf of Mexico were damaged or destroyed? Guess how many leaked?




Go ahead...take a wild guess...



That's right. ZERO!!!!!!

[XtremeCouture]

dude its $2 a gallon in mexico because they still use leaded gasoline lmao

[ronwx5x]

Originally posted by Johnny Utah
Key word here is Valero. IS VALERO A US COMPANY?? CITGO?? BRITISH PETROLEUM??? We have tons of reserves but we are TOO politically correct to go after them. We are our own worst enemy!!!

Yes to Valero, no to the other two. CITGO is Venezuelan and BP is self-explanatory. But even if we could get every drop of oil that is in US ground, we couldn't refine it. It's a continuation of the NIMBY syndrome when it comes to building new refining capacity. All the oil companies do is rebuild the existing refineries and add capacity, no new ones in over 20 years I believe.

[Johnny Utah]

If we do not want to refine our own, tap our reserves to help then we should not complain!!!

[loboes86]

Originally posted by XtremeCouture
dude its $2 a gallon in mexico because they still use leaded gasoline lmao If I remeber right and I could be wrong but lead is an additive put into gas. They add it to the already refined unleaded gas. I may be wrong correct me if I am.

[loboes86]

I thought one of the reasons price is so high was do to lack of refineries. Which would mean no matter how much oil was being produced it could not be refined into consumer products.(gas,deisel,and others.)

[Ingleside Fan]

Originally posted by Black_Magic
Heck you can go to Mexico and buy it for $2 a gallon still. they are sticking it to us. Its time for the winfall profits tax to kick in. If it was ever time to kick in its now. Record profits quarter after quarter. CEOs are sure doing good. Blue collar america is strugling. But we need to Lean HEAVILY on OPEC to raise production as well. not just be nice and ask. Sure we should be as nice as we can about it but remind them of the troops of Iraq that were poised to invade saudia arabia in 1990 before we blew them away. Proper Gratitude would be to increase production NOT stick it to us.

Winfall profits tax will just cause the oil companies to stop producing and we will have the gas lines just like in the 70's. Odd/Even days to get gas. The Market will correct itself ! Leave the Government out of this. They have already messed up enough.

[BILLYFRED0000]

Originally posted by loboes86
I thought one of the reasons price is so high was do to lack of refineries. Which would mean no matter how much oil was being produced it could not be refined into consumer products.(gas,deisel,and others.)

It is a combination of lack of capacity and government regulation.
There is a chunk of taxes on a gallon, 37 different blends of unleaded and low sulfur diesel to produce. Reduce that to 1 blend of unleaded and refinery time and delivery drop by a large margin reducing the strain on capacity and increasing the amount of product reaching the market. Just pick the strictest blend and use it.

[Adidas410s]

Originally posted by Johnny Utah
Key word here is Valero. IS VALERO A US COMPANY?? CITGO?? BRITISH PETROLEUM??? We have tons of reserves but we are TOO politically correct to go after them. We are our own worst enemy!!!
You forgot Royal Dutch/Shell from the Netherlands :rolleyes: :rolleyes: :rolleyes:

Oh...and you also forgot about:

- HSBC
- Toyota
- Honda
- ING
- Royal Bank of Scotland
- Nestle
- Nokia
- Accenture
- Nortel
- AXA
- Barclays
- Deutsche Bank
- Mitsubishi
- Volkswagen
- Arcelor/Mittal
- Daimler/Chrysler
- Siemens
- Samsung
- Sony
- BMW

Want me to keep going???? Better yet...let's revert back to the 1840's and forgo any exports/imports!!! That's a GREAT idea!
:rolleyes: :rolleyes: :rolleyes:

[garciap77]

Originally posted by Phil C
Our gasoline industries are making big profits yet everyone blames the Arabs for the high prices. It would seem like the Arabs would be making the big profits instead of the Fat Cats who are making good and getting big fat bonuses.

Anyway the local Valero would give away free coffee the day after a Spurs win but the fat cats found out about it and put a stop to it. Besides getting greedy and overcharging for gasoline they want coffee profits.

"Why does this not surprise me?" said the Sinton GodFAther while on his way to the snack bar for a cup of coffee that won't be used by the fat cats.

They are only making 8 cents to the dollar!;)

[BuffyMars]

i ain't touching this thread with a 10-ft pole. :hairpunk:

[STANG RED]

In the last 12 months, ExxonMobil, Chevron and
ConocoPhillips took in $833.7 billion in revenues but reported profits of $71.8 billion. That works out to about
8.6 cents of profit for every dollar's worth of crude.

Refiners fared even worse. They sold $293.6 billion worth of gasoline and other fuels and made $11.9 billion
in profits, or about 4 cents on the dollar.

There are eight major drug makers in the Standard & Poor's 500; collectively they made $36.2 billion over the past 12 months on revenues of $237.2 billion. That means they pocketed about
15 cents of every dollar’s worth of product sold. Not bad.

How about software? The seven big companies in the sector (including Microsoft, which jointly owns
msnbc.com with NBC Universal) took in $92.3 billion in revenues and earned $23.6 billion in profits, or about
25 cents on every dollar.

Banking? Despite their problems with subprime loans, the eight big “money center” banks in the S&P 500 took
in profits of $41.3 billion on revenues of $267.3 billion, about 15 cents on the dollar.

data is from MSN Money's Stock Screener.

[garciap77]

Originally posted by STANG RED
In the last 12 months, ExxonMobil, Chevron and
ConocoPhillips took in $833.7 billion in revenues but reported profits of $71.8 billion. That works out to about
8.6 cents of profit for every dollar's worth of crude.

Refiners fared even worse. They sold $293.6 billion worth of gasoline and other fuels and made $11.9 billion
in profits, or about 4 cents on the dollar.

There are eight major drug makers in the Standard & Poor's 500; collectively they made $36.2 billion over the past 12 months on revenues of $237.2 billion. That means they pocketed about
15 cents of every dollar’s worth of product sold. Not bad.

How about software? The seven big companies in the sector (including Microsoft, which jointly owns
msnbc.com with NBC Universal) took in $92.3 billion in revenues and earned $23.6 billion in profits, or about
25 cents on every dollar.

Banking? Despite their problems with subprime loans, the eight big “money center” banks in the S&P 500 took
in profits of $41.3 billion on revenues of $267.3 billion, about 15 cents on the dollar.

data is from MSN Money's Stock Screener.

Stang can we verify this. Or is it like "Global Warming"?:thinking: :clap: ;) :D

[nobogey72]

Originally posted by BuffyMars
i ain't touching this thread with a 10-ft pole. :hairpunk:

me either. I'm just sorry that Black_Magic is not around this afternoon, because then it would get really good. He must be down at the river "saving the crappie" or something.:D

[nobogey72]

Originally posted by STANG RED
In the last 12 months, ExxonMobil, Chevron and
ConocoPhillips took in $833.7 billion in revenues but reported profits of $71.8 billion. That works out to about
8.6 cents of profit for every dollar's worth of crude.

Refiners fared even worse. They sold $293.6 billion worth of gasoline and other fuels and made $11.9 billion
in profits, or about 4 cents on the dollar.

There are eight major drug makers in the Standard & Poor's 500; collectively they made $36.2 billion over the past 12 months on revenues of $237.2 billion. That means they pocketed about
15 cents of every dollar’s worth of product sold. Not bad.

How about software? The seven big companies in the sector (including Microsoft, which jointly owns
msnbc.com with NBC Universal) took in $92.3 billion in revenues and earned $23.6 billion in profits, or about
25 cents on every dollar.

Banking? Despite their problems with subprime loans, the eight big “money center” banks in the S&P 500 took
in profits of $41.3 billion on revenues of $267.3 billion, about 15 cents on the dollar.

data is from MSN Money's Stock Screener.

:2thumbsup :ditto:

[Adidas410s]

Originally posted by garciap77
They are only making 8 cents to the dollar!;)

actually...

Exxon made $.10 per dollar of revenue for FY07
Valero made $.05 per dollar of revenue for FY07
BP made $.07 per dollar of revenue for FY07
Chevron made $.08 per dollar of revenue for FY07

as a point of comparison, when a barrel of oil was averaged $50.23/gallon...

Exxon made $.10 per dollar of revenue for FY07
Valero made $.04 per dollar of revenue for FY07
BP made $.08 per dollar of revenue for FY07
Chevron made $.07 per dollar of revenue for FY07

So even though the cost of oil has more than doubled...they aren't seeing profits come anywhere near doubling. Somebody make sure to get the memo over to the Sinton snack bar! ;)

[Adidas410s]

Originally posted by nobogey72
me either. I'm just sorry that Black_Magic is not around this afternoon, because then it would get really good. He must be down at the river "saving the crappie" or something.:D either that or he's "taking a crappie"....

[STANG RED]

Originally posted by garciap77
Stang can we verify this. Or is it like "Global Warming"?:thinking: :clap: ;) :D

Well this is what was reported by MSN, which to my knowledge isnt owned by any of the oil companies and shouldnt have a axe to grind either way, so I can only assume these figures are accurate. Seems to be just straight forward reporting of findings to me. Facts are facts, whether some people like them or not. All indications are, these are facts. But no, I dont personally have the time or resources to double check any of these, so I cannot say that I varified any of them. But I can say it sounds reasonable to me, even if it doesnt help my pocket book any.

[BILLYFRED0000]

Originally posted by STANG RED
Well this is what was reported by MSN, which to my knowledge isnt owned by any of the oil companies and shouldnt have a axe to grind either way, so I can only assume these figures are accurate. Seems to be just straight forward reporting of findings to me. Facts are facts, whether some people like them or not. All indications are, these are facts. But no, I dont personally have the time or resources to double check any of these, so I cannot say that I varified any of them. But I can say it sounds reasonable to me, even if it doesnt help my pocket book any.

Actually they are liberal and would be happier if more money was being made so they could shout foul at big oil.
And yes it is accurate.

[tortilla_man]

Originally posted by loboes86
I thought one of the reasons price is so high was do to lack of refineries. Which would mean no matter how much oil was being produced it could not be refined into consumer products.(gas,deisel,and others.)

This is true, a new one hasnt been built in over 20 years and many having been being shut down.... there is plenty of oil ... its just a matter of turning that oil into something useable i.e. gas & diesel etc..

[Adidas410s]

Originally posted by Adidas410s
actually...

Exxon made $.10 per dollar of revenue for FY07
Valero made $.05 per dollar of revenue for FY07
BP made $.07 per dollar of revenue for FY07
Chevron made $.08 per dollar of revenue for FY07

as a point of comparison, let's look at 2005...when a barrel of oil was averaged $50.23/gallon...

Exxon made $.10 per dollar of revenue for FY05
Valero made $.04 per dollar of revenue for FY05
BP made $.08 per dollar of revenue for FY05
Chevron made $.07 per dollar of revenue for FY05

So even though the cost of oil has more than doubled...they aren't seeing profits come anywhere near doubling. Somebody make sure to get the memo over to the Sinton snack bar! ;)

k read this again...I forgot to add in that 2nd set of numbers is from 2005. That should make more sense...DOH! :doh: