The price of GAS!!!

Topic: The price of GAS!!! (Read 21627 times) previous topic - next topic

The price of GAS!!!

Reply #15 – March 22, 2012, 09:41:57 PM

Quote from: Blackbird1;384876

I wonder though, if I were in their shoes, would I be just as greddy.

they say money changes people.. but if you come from some kind of hardship, i doubt it'll change your outlook on things.. i'm willing to bet a lot of it has to do with 'daddy passing his company on to his children' and being younger, they're money hungry.. i've come to realize, most people who are born into money want more, like it's going extinct

The price of GAS!!!

Reply #16 – March 23, 2012, 01:35:28 AM

It's good to be retired. I feel sorry for anybody who has to buy gas every month.

The price of GAS!!!

Reply #17 – March 23, 2012, 03:43:49 AM

Gasoline? Merely the price of admission. That's how I look at it anyway, long live the small block Ford!

The price of GAS!!!

Reply #18 – March 23, 2012, 07:27:48 AM

OPEC sets the price of oil, not individuals within a company. The notion that oil companies are greedy is simply not true. The last well we drilled, they spent 30 million drilling it and it barely made any gas. Just one example.

The price of GAS!!!

Reply #19 – March 23, 2012, 09:13:28 AM

Quote from: V10KLZZ71S;384948

OPEC sets the price of oil, not individuals within a company. The notion that oil companies are greedy is simply not true. The last well we drilled, they spent 30 million drilling it and it barely made any gas. Just one example.

Uhhh... ya.. ok. Your right in one aspect, OPEC does set the oil prices, but the oil companies do set the prices for gas. I hauled gas for a short time and got out of it when it was starting to get scary to haul (as in truck getting tampered with for the gas or getting jacked).
So a 400 million profit from the first quarter last year isn't greedy?? It used to be gas prices only changed when a station took delivery of a load of fuel, now it changes 2 or 3 times in between deliveries!!

The price of GAS!!!

Reply #20 – March 23, 2012, 09:25:28 AM

Quote from: thunderjet302;384860

I did and I still don't understand it fully....

You and me both man....sure didn't help that when you're studying engineering there is literally NO CLASS that you can kinda push-the-work-aside-to-bs-through-quick later LOL!!!! So everything gets like half the effort you need to put into it. But it sounds like a wild goose chase. "Call" "Put" "money market mutual funds" "commercial paper" and half the things SOUND the same to the layperson and they're actually like comparing a Cougar to a Grand Vitara XL-7 to a Fiat Panda to a Unimog. :hick:

And HOPEFULLY without sending this thread down the wrong road entirely...****I**** am not going to state a profound opinion as to hopefully ward that off, but it *begs the question* of how to obviously keep things reasonable. So many of these financial "products" and so new that not even the government understands enough about how they work to regulate anything to any degree. Let alone the hardworking citizens that end up victimized.

I think all of us here can agree that capitalism and the free market are a good thing IN THE SENSE of production and innovation, inventing, making new and BETTER things. But a Credit Default Swap? Just a fancy word for betting on (against?) the fact that bank X maybe won't should not YES have a customer go bankrupt on someone else's loan that they didn't....not....forget to sell to.............wait did I leave the iron on? :hick:

The price of GAS!!!

Reply #21 – March 23, 2012, 12:40:16 PM

Quote from: 1BadBird;384960

Uhhh... ya.. ok. Your right in one aspect, OPEC does set the oil prices, but the oil companies do set the prices for gas. I hauled gas for a short time and got out of it when it was starting to get scary to haul (as in truck getting tampered with for the gas or getting jacked).
So a 400 million profit from the first quarter last year isn't greedy?? It used to be gas prices only changed when a station took delivery of a load of fuel, now it changes 2 or 3 times in between deliveries!!

No it is not greedy. Most oil companies spend billions on exploration. Their operating budget is huge, so the profit numbers seem large, hence the news media label "Big Oil". Maybe everyone would be happy if the companies were not profitable and then we would be totaly dependent on foreign oil producers. Most companies drill worldwide and in the states and spend big money providing the very product that makes our lives great. Do a search on local,state and federal taxes on a gallon of gas.Nothing to do with the producer.

The price of GAS!!!

Reply #22 – March 23, 2012, 12:48:23 PM

A little tid bit of info here.

http://www.dailymarkets.com/economy/2011/04/27/gasoline-taxes-vs-exxon-profit-per-gallon/

The price of GAS!!!

Reply #23 – March 23, 2012, 01:04:20 PM

Correct me if I'm wrong, (and I'm sure you will) but doesn't Profit mean "After ALL" expenses. At least in other businesses it does. So how does the oil companies differ??

Yes I do realize that they (the oil companies) have a rather large expense for bringing what we all need everyday for our cars.

The price of GAS!!!

Reply #24 – March 23, 2012, 01:37:44 PM

So should oil companies not make a profit? If world demand sets the price of oil and it benefits the oil company is that wrong?

The price of GAS!!!

Reply #25 – March 23, 2012, 03:07:23 PM

I never said it was wrong for them to make a profit. But 400 million in the first quarter alone?? Oh well, I'll still pay it cause I need it.

The price of GAS!!!

Reply #26 – March 23, 2012, 03:14:57 PM

Quote from: 1BadBird;384994

I never said it was wrong for them to make a profit. But 400 million in the first quarter alone?? Oh well, I'll still pay it cause I need it.

You have to look at the operating budget to view the profit in perspective. Banks and most financial institutions have a higher profit margin. A side note, most world investors invest in the oil industry. Solar, wind power will never power trains, trucks, jets. Oil is here to stay for quite a while.

The price of GAS!!!

Reply #27 – March 23, 2012, 03:55:56 PM

Anyone that says oil companies aren't greedy is on their payroll, just as simple as that. The only other companies that I know of that get paid more by the government to raise prices, are the car companies. They have to work pretty hard to get worse gas mileage out of the same car they made 20 years ago with less strict emissions, and more efficient engines.

The people to blame for the prices of gas afre the people that buy newer "more" fuel efficent cars. If everyone was drive a 460bb ford pickup without overdrive, gas wouldn't be $4 a gallon right now, and there wouodn't be an oil shortage. What realle happened is gas got cheap when a country was no longer bound by opec and started trading gas freely. The price was driven way down before opec conformed the new government of said country, and now they have to make up forit with more profits.

To the op, I drove a 5.4 f-250 with 350k+ miles on it, I averaged 19mpg out of it, and sometimes as high as 20mpg towing. My friend with a f150 gets 22mpg out of his 99f-150 with a 5.4. You need to do a tune up, or changw the way you drive if your getting 13. My work truck I even left running for most of the day to run hydralics and equipment on off of it.

The best way to save on gas isn't to spent $10k on a new car. Its to drive less and combine trips. With my dads 91 e-250, 460 with a towing package, he was paying $120 a month in gas. How long would a newer car take to payitself off? Quite a while. Considering his insurance would almost double, then he would only be saving maybe $60 a month on it.

I keep trying to talk him into a 86-88 bird or cat. Excelent commuter cars. I used to average over 25mpg freeway. Mostdays I was right near 27 or 28, and it I slowed down from 75 to 65mph in the 75 zone, I could easily hit 30mpg every dayy, except some of the snow days. Several times with a 100 miles commute each day I drove all 5 days on a single tank. Doing 55mph loaded with a couple hundred pound of tools and 3 people, I followed a work truck home at 55mph. I averaged just over 35mpg that day. I don't see why anyone would buy a newer car for "better" gas mileage. But I am pretty biased.

The price of GAS!!!

Reply #28 – March 23, 2012, 04:09:16 PM

Case and point....early 90s Geo/Chevrolet Metro! It's rare that I do but when I see one of those I can't help but think the driver must be laughing all the way to the bank. Parts can't be that expensive for them, you owe nothing on it, and 40-50 MPG. What's not to like? (Yes potential death trap but I'd rather one of those than a Smart car...)

The price of GAS!!!

Reply #29 – March 23, 2012, 04:46:41 PM

I drive a V10 F250. I would suggest to anyone who is convinced that oil companies are greedy and evil to throw out everything that is related to oil and try and live without anything that is produced with oil and its by products. Stop pecking on your computer keys made from petroleum products. It would be safe to say you would be living in the woods. It just amazes me that something as great as what oil has given all of us, people want to demonize the very companies that deliver this to us. Countless times the Senate has investigated gas prices/oil companies and guess what? They turn up empty.