HELL NO!!!! Not when it's 10% of 100 Billion (that's BILLION with a B!!!) in sales a single friggin' quarter!! So cut us some slack, quit cutting production, and quit raising prices unnecessarily that we have no choice but to pay, and make 8 Billion instead of 10 or 12!!! Is that too much to ask for cripes sake?
And why are you defending them? Do you not pay the same amount? Didn't you like filling your tank for $30 a week instead of $100?? Jeez, it's not like any Congress (D or R) will do a damned thing about it. Record profit means record tax revenues. Who did they think they were fooling with that ridiculous charade with the oil guys answering questions on TV? Spare me the sob story of the poor oil companies and their "piddley" 10%
Ah, I see, what you are saying is that "Too much profit" is defined as a percentage or a figure, whichever comes lower. So why is 8 billion ok? Why not 7 or 6? Yes, I know how to spell billion, thank you. Why aren't you upset then that they are spending 100 billion to make it? I suppose you think they should make 100 million only? Get real. If I owned a company that made less than 10% profit, you bet I will find another CEO. In fact, I know I make more than 10% profit and still think it is low.
Because I don't enjoy irrational statements? Because I look at the whole picture instead of one corner of the picture? Of course they make 10 billion. They spent 100 billion to make it. What's wrong with that? You invest more, you get more. If I spent a million bucks and I expect at least 100K in profit is it too much to ask? Now if you said that they spent 10 billion and made 20 billion profit, I would say that they made a killing. Yes, I'd rather fill my tank for $30 a week. Oh, but wait, things were cheaper then too. Also, I earned less money too.
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01 Excursion 7.3L Powerstroke. Gauges with AIH Delete, AIS, CCV Mod, 4' MBRP, BTS Trans, 6.0L Trans Cooler and Intercooler, DP-Tuner F5 chip, ITP In Tank Mod and Boost Annihilator, Diesel Innovation's Regulated Fuel kit, BTS Big Oil system and Van Turbo. Bilstein Shocks with U code front and A code Rear.
Even 1% of $100,000,000,000.00 still $1,000,000,000.00
OK. So tell me what percentage profit a company can expect to make. Is it capped by percentage or just plain dollar figures?
Somehow, I get the feeling that people are, as the press thinks, easily fooled by raw figures. Hence when they talk about the 10 billion made and tack in the "record profits", they conveniently slipped in somewhere in the back of the article an "Oh by the way, they did spend 100 billion". That way the article can be sensational, attract tons of attention, get people stired up and still be truthful.
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01 Excursion 7.3L Powerstroke. Gauges with AIH Delete, AIS, CCV Mod, 4' MBRP, BTS Trans, 6.0L Trans Cooler and Intercooler, DP-Tuner F5 chip, ITP In Tank Mod and Boost Annihilator, Diesel Innovation's Regulated Fuel kit, BTS Big Oil system and Van Turbo. Bilstein Shocks with U code front and A code Rear.
I understand what your saying about 10%. From a business standpoint, that is a low % of profit. Its alot of money, but its a low amount of profit for the amount they spend to make. Im learning all this in school so I can relate to what your saying.
Do you have any insight about why diesel goes up like a rocket, but never goes down that fast? Gas goes up and down but its more rapid. I always wondered that.
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Early 99 PSD 4x4 with a muffler.
and some other stuff
Maybe Ford should expand and double the production of Super Duties, then when the lots are overflowing they will be forced to drop the price to move the bloated inventory....
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Powerstroking Seven T444Es, one VT365 and one 6.0. Also four DT466s, one DT360 and a Mercedes MBE906.
I'm doing my part to reduce food imports, control rising food costs and help feed the children, my trucks run on 100% petroleum diesel. What are you doing?
I understand what your saying about 10%. From a business standpoint, that is a low % of profit. Its alot of money, but its a low amount of profit for the amount they spend to make. Im learning all this in school so I can relate to what your saying.
Do you have any insight about why diesel goes up like a rocket, but never goes down that fast? Gas goes up and down but its more rapid. I always wondered that.
That is why I am not impressed by the attention *****s who write the articles. To me 10% is not that much but people are unable to get their minds past the the "gong banging, neon lightet figures".
I suspect that it is because when prices go up, the speculators don't want to lose money. However, when it goes down, they can take their time.
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01 Excursion 7.3L Powerstroke. Gauges with AIH Delete, AIS, CCV Mod, 4' MBRP, BTS Trans, 6.0L Trans Cooler and Intercooler, DP-Tuner F5 chip, ITP In Tank Mod and Boost Annihilator, Diesel Innovation's Regulated Fuel kit, BTS Big Oil system and Van Turbo. Bilstein Shocks with U code front and A code Rear.
Maybe Ford should expand and double the production of Super Duties, then when the lots are overflowing they will be forced to drop the price to move the bloated inventory....
I don't know which is better and I personally wouldn't care. Either I sell more quantity and make less profit per unit or make more profit per unit but less quantity. Either way, I suspect it adds up to the same thing. As a shareholder, I could care less how you do it. I just look at the bottom line and see the profit and if it isn't what I expect, heads will roll. Problem is that we made it difficult for them to expand so they run the plant at over 100% of design.
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01 Excursion 7.3L Powerstroke. Gauges with AIH Delete, AIS, CCV Mod, 4' MBRP, BTS Trans, 6.0L Trans Cooler and Intercooler, DP-Tuner F5 chip, ITP In Tank Mod and Boost Annihilator, Diesel Innovation's Regulated Fuel kit, BTS Big Oil system and Van Turbo. Bilstein Shocks with U code front and A code Rear.
aklim,
Don't take this the wrong way, but are you related to earnesteugene in any way? I get the same warm feeling at the base of my skull when I enter into exchanges with him...
aklim, you are killing me. I don't want to hear about how much big oil spent developing new supply. That is their choice. Someone must answer for that. The question was why does diesel cost so much more than gas and that is BS because diesel is less refined than gas so what say you?
Also, spare me the song about what was spent as that is forecasted into future profits. What the 10billion reveals now is profit from previous expenditures. Don't tilt the numbers because you insult us and yourself. This is all creative accounting to make it look good but they are robbing us blind and don't even try it. Production today reaps benefits from expenditures from a decade ago. Please quit this BS. The current #s are speculations on investments in the future as far as what is being spent on exploration. Not everyone is stupid. They take todays expenses and reduce profits by that amount, and I say 10% is a hefty amount of profit when you consider future profits as they have us by the balls. Where else will we get it? It is called gouging in what we used to call a monopoly. So while your retirement plan may be faring well, we are all paying for it. Sleep well. RIP-OFF.
aklim,
Don't take this the wrong way, but are you related to earnesteugene in any way? I get the same warm feeling at the base of my skull when I enter into exchanges with him...
Joe
Only relation to him is that I am on the same forum as he is.
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01 Excursion 7.3L Powerstroke. Gauges with AIH Delete, AIS, CCV Mod, 4' MBRP, BTS Trans, 6.0L Trans Cooler and Intercooler, DP-Tuner F5 chip, ITP In Tank Mod and Boost Annihilator, Diesel Innovation's Regulated Fuel kit, BTS Big Oil system and Van Turbo. Bilstein Shocks with U code front and A code Rear.
What the 10billion reveals now is profit from previous expenditures.
Development expenditures are by their very nature previous expenditures, and furthermore, whether they are previous or projected they are still expenditures.
If you buy a house and it costs you $300,000, you can't tell me that you are not going to try to sell it for more than you paid.....and the more the better.
10% profit works out to be about $.30 a gallon.....well, we are taxed more than that on each gallon.
Big oil is making profits, and they are healthy profits, but so are many other companys. (The richest guy in the US at $59 Billion, created the software your using to read this.)
Our righteous ire should be directed at those that will not allow us to develop our OWN fossil fuel resources, and won't allow us to build NEW advanced technology refineries.
....And at the government (Fed and State) that taxes us so exhorbitantly on every gallon we buy.
They say not to drill in Alaska, because it will kill the elk...only the elk population is increasing, and thriving by happily congregating near the warm Alaskan oil line.
They don't want us to drill off-shore....cause there may be leakage....meanwhile they themselves hypocritically use oil that was pumped off-shore by other less technologically advanced countries.
....And they cry crocodile tears when Nuclear Power Plants are suggested.
Everytime limited capacity refineries have to shift over to fufill new needs such as winter heating oil, we are going to have these price fluctuations.
....And because there is an ever increasing demand for oil from developing nations the price will inevitably rise.
Remember, it is we consumers that insist on driving PSD's that get only 14-15mph.
In order to see the price of oil go down......everybody in the US must drive considerably less, and when they must drive, they need to drive small vehicles like the Nissan Sentra.
......My wifes' gets over 30mph on average with Sentra.
Course they would hate anyone that was not driving a small car....the whole country would be like SF, and Seattle.
Me ....I'll pay more and drive my PSD!
....and I dearly wish I had some gas and oil stock!
Oil company profits: A perspective
Earnings, Revenues, Profits (Billions) for selected companies, recent quarter, 2005
Source: Bloomberg News, reported in AAPG Explorer Dec. 2005
Company
Net Profit
Revenue
Profit Margin
Citigroup (banking)
$7.1
$21.5
33%
Microsoft
$3.1
$9.7
32%
Coca-Cola
$1.3
$6.0
21%
Procter & Gamble
$2.0
$14.8
14%
General Electric
$4.7
$41.6
11%
ExxonMobil
$9.9
$92.6
11%
ConocoPhillips
$3.8
$48.7
8%
IBM
$1.5
$21.5
7%
Chevron
$3.6
$51.1
7%
Wal-Mart
$2.8
$76.8
4%
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Art
Early 1999 F350 7.3 Auto 4wd
Banks Big Head Actuator
AFE Stage 2 Magnum Force
Manual Lock Hubs
My mods...
Hutch, Pre-pump filter, Harpoon, Carter 4070
200Amp Alt. w/ 4 gauge direct wiring to batteries
The question was why does diesel cost so much more than gas and that is BS because diesel is less refined than gas so what say you?
Also, spare me the song about what was spent as that is forecasted into future profits. What the 10billion reveals now is profit from previous expenditures. Don't tilt the numbers because you insult us and yourself. This is all creative accounting to make it look good but they are robbing us blind and don't even try it. Production today reaps benefits from expenditures from a decade ago. Please quit this BS. The current #s are speculations on investments in the future as far as what is being spent on exploration. Not everyone is stupid. They take todays expenses and reduce profits by that amount, and I say 10% is a hefty amount of profit when you consider future profits as they have us by the balls. Where else will we get it? It is called gouging in what we used to call a monopoly.
So while your retirement plan may be faring well, we are all paying for it. Sleep well. RIP-OFF.
Why are diesel fuel prices higher than gasoline prices?
Until several years ago, the average price of diesel fuel was usually lower than the average price of gasoline. In some winters when the demand for distillate heating oil was high, the price of diesel fuel rose above the gasoline price. Since September 2004, the price of diesel fuel has been generally higher than the price of regular gasoline all year round for several reasons. Worldwide demand for diesel fuel and other distillate fuel oils has been increasing steadily, with strong demand in China, Europe, and the U.S., putting more pressure on the tight global refining capacity. In the U.S., the transition to low-sulfur diesel fuel has affected diesel fuel production and distribution costs. Also, the Federal excise tax on diesel fuel is 6 cents higher per gallon (24.4 cents per gallon) than the tax on gasoline.
It goes on about what it all entials.
OK. Fine. Tell us how you calculate the profit since you don't want to go by what I said.
Sorry to disappoint you but I have NO, ZERO, NADA dollars in my retirement plan that is in oil that I know of. Now, if someone has bought me oil futures, I don't know of, well....
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01 Excursion 7.3L Powerstroke. Gauges with AIH Delete, AIS, CCV Mod, 4' MBRP, BTS Trans, 6.0L Trans Cooler and Intercooler, DP-Tuner F5 chip, ITP In Tank Mod and Boost Annihilator, Diesel Innovation's Regulated Fuel kit, BTS Big Oil system and Van Turbo. Bilstein Shocks with U code front and A code Rear.
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