Gas prices
Post Fiend
Joined: Mar 2009
Posts: 11,798
Likes: 14
From: Mt. Shasta California
They don't have to justify it. He who has the gold makes the rules.........drill now!
Junior User
Joined: Nov 2010
Posts: 56
Likes: 0
From: Kosciusko County, IN
Simply, the American dollar is being devalued in many ways and has been sliding down-hill for some time. It takes MORE dollars to buy the same amount of oil than it used to. That partially makes the price of gas at the pump, go up.
Post Fiend
Joined: Mar 2009
Posts: 6,243
Likes: 2
From: Chicago and Mt Carroll IL
I'll say it again....not an opinion.....just the facts.
Fact is:
As of May 2nd, the US is now considered a "net exporter" of oil. That means that we are producing ENOUGH product to fufill our daily needs, plus some, without drilling another hole in the ground.
You ask:
Why are we exporting the oil we are producing here and IMPORTING oil for our daily needs?
The Answer:
SPECULATORS are selling OUR oil offshore since it is more profitable for them to do so. Which causes US to have to IMPORT the oil we use. At whatever price the market will bear. It's a sort of basterdized version of free market economics.
I said it before and will restate it again.
Require speculators to take actual delivery of the commodity they are trading from the comfort of thier armchair. I doubt ANY would be able to dig a hole deep enough in thier backyard.
It's a reasonably simple solution to a complex problem that is affecting virtually every household in the country.
While I agree it is good practice to drill here and explore new opportunities on and about our shores, drilldrilldrill is not the solution to our current pricing issues.
Fact is:
As of May 2nd, the US is now considered a "net exporter" of oil. That means that we are producing ENOUGH product to fufill our daily needs, plus some, without drilling another hole in the ground.
You ask:
Why are we exporting the oil we are producing here and IMPORTING oil for our daily needs?
The Answer:
SPECULATORS are selling OUR oil offshore since it is more profitable for them to do so. Which causes US to have to IMPORT the oil we use. At whatever price the market will bear. It's a sort of basterdized version of free market economics.
I said it before and will restate it again.
Require speculators to take actual delivery of the commodity they are trading from the comfort of thier armchair. I doubt ANY would be able to dig a hole deep enough in thier backyard.
It's a reasonably simple solution to a complex problem that is affecting virtually every household in the country.
While I agree it is good practice to drill here and explore new opportunities on and about our shores, drilldrilldrill is not the solution to our current pricing issues.
Post Fiend
Joined: Mar 2009
Posts: 11,798
Likes: 14
From: Mt. Shasta California
Selling oil and buying it at the same time ? hmmm. It only makes sence to me that if we had more oil we could supply out people with cheaper oil. There is really something fishy going on here and I wouldn't doubt if it revolves around greed. I'm not an expert on the oil business but it makes no sense to me that more oil wouldn't be beneficial to us. (unless someone got too greedy)
Mountain Pass
Joined: Nov 2010
Posts: 198
Likes: 0
Selling oil and buying it at the same time ? hmmm. It only makes sence to me that if we had more oil we could supply out people with cheaper oil. There is really something fishy going on here and I wouldn't doubt if it revolves around greed. I'm not an expert on the oil business but it makes no sense to me that more oil wouldn't be beneficial to us. (unless someone got too greedy)
Greed.
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Hotshot
Joined: Oct 2005
Posts: 12,237
Likes: 22
From: Florida
Okay...so finally I heard something positive after the barrel price has fallen pretty steadily the MEDIA is now catching on to report POSITIVE things for once rather than beat the drum of these greedy bums!...
I just heard on the morning news that the gallon price should FALL at LEAST $0.50 by SUMMER!
...I guess time will tell...
It has fallen about $0.15 per gallon here in town since Thursday for 87 octane...It is a start at least!...considering they have been gouging us for some time...
Poor Exxon Mobil only made $10 BILLION in PROFITS in the first quarter...I can only imagine what they will rake in in the second on our backs...I can't imagine how one of those poor exec's lives on those paltry salaries/bonuses...
I just heard on the morning news that the gallon price should FALL at LEAST $0.50 by SUMMER!
...I guess time will tell...It has fallen about $0.15 per gallon here in town since Thursday for 87 octane...It is a start at least!...considering they have been gouging us for some time...
Poor Exxon Mobil only made $10 BILLION in PROFITS in the first quarter...I can only imagine what they will rake in in the second on our backs...I can't imagine how one of those poor exec's lives on those paltry salaries/bonuses...
Lead Driver
Joined: Sep 2007
Posts: 8,180
Likes: 669
From: Scio, OR
That also comes to $2.07 per share of common stock. Stock held by pretty much everyone's retirement fund. If you were smart, you'd have made some of that money.
Oh and just for the hell of it, let's point out the 5.493 billion in income taxes.
XOM Income Statement | Exxon Mobil Corporation Common Stock - Yahoo! Finance
Post Fiend
Joined: Mar 2009
Posts: 6,243
Likes: 2
From: Chicago and Mt Carroll IL
Oh and just for the hell of it, let's point out the 5.493 billion in income taxes.
XOM Income Statement | Exxon Mobil Corporation Common Stock - Yahoo! Finance
Not to mention thier ongoing thirst for federal subsidies......................
Fight For Better US
Post Fiend
Joined: Mar 2009
Posts: 6,243
Likes: 2
From: Chicago and Mt Carroll IL
2 more items:
1) Exxon Mobils' quarterly results, as posted, are an interim, unaudited financial statement. You need to look at an audited corporate tax return.
2) There is no mention (nor is it required I must add), of income generated through the myriad of offshore shell corps, specifically utilized to avoid paying federal income taxes. Exxon Mobil is truly one of the tax shelter queens of multi national corporations.
1) Exxon Mobils' quarterly results, as posted, are an interim, unaudited financial statement. You need to look at an audited corporate tax return.
2) There is no mention (nor is it required I must add), of income generated through the myriad of offshore shell corps, specifically utilized to avoid paying federal income taxes. Exxon Mobil is truly one of the tax shelter queens of multi national corporations.
Lead Driver
Joined: Sep 2007
Posts: 8,180
Likes: 669
From: Scio, OR
I think the point was well enough made. I've done similar comparisons on full year data and the evil oil companies, in general, make nearly the same in percentages as many other multi-national corporations who take all the same evil tax dodges. It's just the evil oil companies get more press.
FTE Chapter Leader
Joined: Nov 2010
Posts: 30,595
Likes: 1,238
From: N. IL
Sorry Paul, I was just wondering, is this your store?
