got some free fuel!
Gone, but not forgotten
Joined: Oct 2005
Posts: 5,026
Likes: 2
From: Charlotte-Fairbanks-Bflo
Whoa! Back up there. You are confusing several issues at once.
Road tax is for fixing roads. Oil companies don't have ANY say so about that.
I am not sure what you are reading but IIRC, they brought in 404 billion, of which 40 billion is profit. That is 10% any way you cut it. They spent a whole lot more to bring in what they did. Of course the media is relying on morons who cannot do simple arithmetic in percentages.
That is another story.
Road tax is for fixing roads. Oil companies don't have ANY say so about that.
I am not sure what you are reading but IIRC, they brought in 404 billion, of which 40 billion is profit. That is 10% any way you cut it. They spent a whole lot more to bring in what they did. Of course the media is relying on morons who cannot do simple arithmetic in percentages.
That is another story.
Thank you!! You're one that does get it. All of the oil companies are publicly owned by their shareholders. They have a responsibility to make as much money for their investors as they can. But, I think the percentage is closer to 7.5, which compared to a lot of company profits is low. If they were only making 1% for their shareholders it would still be billions, but the shareholders would dump the stock overnight. Everyone has to wake up and smell the bacon. The only reason the media is playing up these numbers is political. The reason the numbers are so high is because they are selling so effin much of it world wide. Tried to rep you again, but the rep ****'s blocked me.
Lead Driver
Joined: Jan 2006
Posts: 7,308
Likes: 250
From: Hartford, WI
If they were only making 1% for their shareholders it would still be billions, but the shareholders would dump the stock overnight.
The only reason the media is playing up these numbers is political.
The reason the numbers are so high is because they are selling so effin much of it world wide.
The only reason the media is playing up these numbers is political.
The reason the numbers are so high is because they are selling so effin much of it world wide.
Which headline sells more to the simple minded fools out there? "Exxon makes record profits of 40 billion" or "Exxon makes 10% profit"?
That is why I prefer to look at the whole picture and see what they spent to make that "record profit" that people keep talking about. So far, as Shania Twain would sing "That don't impress me much" when you look at the big picture.
Gone, but not forgotten
Joined: Oct 2005
Posts: 5,026
Likes: 2
From: Charlotte-Fairbanks-Bflo
So would I except I don't have any oil stock to dump.
Which headline sells more to the simple minded fools out there? "Exxon makes record profits of 40 billion" or "Exxon makes 10% profit"?
That is why I prefer to look at the whole picture and see what they spent to make that "record profit" that people keep talking about. So far, as Shania Twain would sing "That don't impress me much" when you look at the big picture.
Which headline sells more to the simple minded fools out there? "Exxon makes record profits of 40 billion" or "Exxon makes 10% profit"?
That is why I prefer to look at the whole picture and see what they spent to make that "record profit" that people keep talking about. So far, as Shania Twain would sing "That don't impress me much" when you look at the big picture.
Gone, but not forgotten
Joined: Oct 2005
Posts: 5,026
Likes: 2
From: Charlotte-Fairbanks-Bflo
So would I except I don't have any oil stock to dump.
Which headline sells more to the simple minded fools out there? "Exxon makes record profits of 40 billion" or "Exxon makes 10% profit"?
That is why I prefer to look at the whole picture and see what they spent to make that "record profit" that people keep talking about. So far, as Shania Twain would sing "That don't impress me much" when you look at the big picture.
Which headline sells more to the simple minded fools out there? "Exxon makes record profits of 40 billion" or "Exxon makes 10% profit"?
That is why I prefer to look at the whole picture and see what they spent to make that "record profit" that people keep talking about. So far, as Shania Twain would sing "That don't impress me much" when you look at the big picture.
I just thought of something else a$$ slapping funny in this post so I gotta quote it again. Who else watches the national mainstream media but simple minded fools?
Senior User
Joined: Feb 2007
Posts: 351
Likes: 0
From: Duluth
cost of fuel vs fuel
SO my thought is, isn't home heating oil like the same price as OTR fuel now. So how is that if there isn't supposed to be a road tax on it....oil companies are takin us to town....
Gone, but not forgotten
Joined: Oct 2005
Posts: 5,026
Likes: 2
From: Charlotte-Fairbanks-Bflo
Here's another one. Which oil company? What town are they taking us to? Do you not read any of the other information on the price at the pumps? I'll bet right now you're watching CNN. The only one I'm aware of that may be taking us to town is Citgo. It's owned by Hugo Chavez. Look it up.
Post Fiend
Joined: Mar 2007
Posts: 26,966
Likes: 50
From: Texas
Speculators in the commodities market are buying oil (& heating oil) contracts with no intention of taking delivery. They plan on selling it to someone else at a higher price before delivery time comes. Many are buying on margin (or credit) where they don't actually pay for the contracts they purchase, then turn them around and sell them quickly for a profit. It's easy to spend lots of money when you don't have to write a check for it. Of course if the price starts dropping and you're forced to pay up then you lose your shorts.
HHO will follow the price of crude. When the bubble bursts lots of people will lose their shorts, but the regular guys will see prices drop.
Post Fiend
Joined: Feb 2008
Posts: 10,977
Likes: 5
From: Lancaster, Pa.
Heating oil is traded on the stock market with other commodities like crude oil. Just like any other stock, the price can be inflated if enough people buy into it. Remember the tech market boom in the 90's where so many internet companies were worth hundreds of millions, then closed their doors after the crash?
Speculators in the commodities market are buying oil (& heating oil) contracts with no intention of taking delivery. They plan on selling it to someone else at a higher price before delivery time comes. Many are buying on margin (or credit) where they don't actually pay for the contracts they purchase, then turn them around and sell them quickly for a profit. It's easy to spend lots of money when you don't have to write a check for it. Of course if the price starts dropping and you're forced to pay up then you lose your shorts.
HHO will follow the price of crude. When the bubble bursts lots of people will lose their shorts, but the regular guys will see prices drop.
Speculators in the commodities market are buying oil (& heating oil) contracts with no intention of taking delivery. They plan on selling it to someone else at a higher price before delivery time comes. Many are buying on margin (or credit) where they don't actually pay for the contracts they purchase, then turn them around and sell them quickly for a profit. It's easy to spend lots of money when you don't have to write a check for it. Of course if the price starts dropping and you're forced to pay up then you lose your shorts.
HHO will follow the price of crude. When the bubble bursts lots of people will lose their shorts, but the regular guys will see prices drop.
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