kapkomet Posted October 27, 2005 Share Posted October 27, 2005 Oh HELL NO, these greedy mother f'ers weren't cashing in on the "crisis"... yesterday, Conoco had 89% increase in quarterly revenues, today Exxon Mobile has record quarterly profits... BULL s***. But meanwhile, the average American consumer has to BEND OVER and pay it. Quote Link to comment Share on other sites More sharing options...
southsider2k5 Posted October 27, 2005 Share Posted October 27, 2005 Those don't include the impact of the hurricanes... Look at 4thQ and 1stQ06 for that. Quote Link to comment Share on other sites More sharing options...
kapkomet Posted October 27, 2005 Author Share Posted October 27, 2005 QUOTE(southsider2k5 @ Oct 27, 2005 -> 04:28 PM) Those don't include the impact of the hurricanes... Look at 4thQ and 1stQ06 for that. Actually, part of Katrina would be in there. Quote Link to comment Share on other sites More sharing options...
southsider2k5 Posted October 27, 2005 Share Posted October 27, 2005 QUOTE(kapkomet @ Oct 27, 2005 -> 12:45 PM) Actually, part of Katrina would be in there. Tehnically yes, in a PnL sense, the effect would be negligible. For all practical purposes the refinary products would hit in the 4thQ, and the effect of the destroyed platforms is 6 months after they shutdown production. Quote Link to comment Share on other sites More sharing options...
JHBowden Posted October 27, 2005 Share Posted October 27, 2005 "But meanwhile, the average American consumer has to BEND OVER and pay it." Nobody is forcing people to drive fuel-inefficient vehicles. People pay a lot for gas because they choose to. Quote Link to comment Share on other sites More sharing options...
kapkomet Posted October 27, 2005 Author Share Posted October 27, 2005 QUOTE(JHBowden @ Oct 27, 2005 -> 06:33 PM) "But meanwhile, the average American consumer has to BEND OVER and pay it." Nobody is forcing people to drive fuel-inefficient vehicles. People pay a lot for gas because they choose to. I have to drive to work. Gee. What a concept. So it's costing my family another $120 a month in gas to drive to work, and no I don't drive a damn Hummer. But that's ok, while the oil companies turn in sky high record profits. Katrina, Rita, or not, they still are raking in the money while "middle class America" takes it up the shorts. Quote Link to comment Share on other sites More sharing options...
HuskyCaucasian Posted October 27, 2005 Share Posted October 27, 2005 Here's my thoughts on this and see if you can follow my train of thought. (I am using hypothetical numbers here) Say a gas station buys gas for $1.50 a gallon, it turns around sells it for $2.50. It makes a dollar profit. Now, a disaster happens and they charge $3. YET, that gas they bought for $1.50 is still in their tanks. So, even though that gas they CURRENTLY hold hasnt cost them anything, they charge you more. Now they get a shipment that costs them $2.00 and they still charge you $3. Any time gas prices go up, THEY MAKE A LARGER PROFIT!! And they never have to worry because on average gas prices never go down! It may change a few cents every day, but over the course of a year, it always goes up! Quote Link to comment Share on other sites More sharing options...
NUKE_CLEVELAND Posted October 27, 2005 Share Posted October 27, 2005 QUOTE(kapkomet @ Oct 27, 2005 -> 10:00 AM) Oh HELL NO, these greedy mother f'ers weren't cashing in on the "crisis"... yesterday, Conoco had 89% increase in quarterly revenues, today Exxon Mobile has record quarterly profits... BULL s***. But meanwhile, the average American consumer has to BEND OVER and pay it. Sigh Oil companies dont set the price of their product..........the oil traders in the pits at the NYMEX do. You knew that. Quote Link to comment Share on other sites More sharing options...
NUKE_CLEVELAND Posted October 27, 2005 Share Posted October 27, 2005 QUOTE(Athomeboy_2000 @ Oct 27, 2005 -> 12:43 PM) Here's my thoughts on this and see if you can follow my train of thought. (I am using hypothetical numbers here) Say a gas station buys gas for $1.50 a gallon, it turns around sells it for $2.50. It makes a dollar profit. Now, a disaster happens and they charge $3. YET, that gas they bought for $1.50 is still in their tanks. So, even though that gas they CURRENTLY hold hasnt cost them anything, they charge you more. Now they get a shipment that costs them $2.00 and they still charge you $3. Any time gas prices go up, THEY MAKE A LARGER PROFIT!! And they never have to worry because on average gas prices never go down! It may change a few cents every day, but over the course of a year, it always goes up! They post and track the average selling price ( this is what the gas stations pay ) of Unleaded and Diesel fuel on CNBC. At the height of the Katrina crunch it was selling for something like 2.20 a gallon. Meaning that the gas stations had to pay 2.20 per gallon. Now factor in state, federal and local taxes and you see where the 3.00 plus comes from. b****ing about gas prices feels good but in reality theres not a lot people can do about it aside from conserve. Quote Link to comment Share on other sites More sharing options...
JHBowden Posted October 27, 2005 Share Posted October 27, 2005 (edited) Guys, look, suppose you drive 90 miles a day. That's about the distance from Joliet to Chicago and back. Now suppose gas goes up $1.00 per gallon for whatever reason. Now, my old Mirage gets 40mpg on the highway. The math comes out to-- 450 miles per week / 40 mpg = 11.25 gallons per week, or about 45 gallons a month. So you'd be paying 45 bucks extra a month if you did a monster commute. I've been there amigos. Seriously, unless you live out in Kankakee or drive a tank, you shouldn't be having a problem. With China and India industrializing rapidly, you'd think people would value good gas mileage more in anycase, but evidently people would rather not take responsibility for their own actions. Edited October 27, 2005 by JHBowden Quote Link to comment Share on other sites More sharing options...
kapkomet Posted October 27, 2005 Author Share Posted October 27, 2005 Also, Accounting rules dictate the way they calculate profits. FIFO (First In First Out) is what they use... so the "reserves" never see the light of day. That's partially why prices are coming back down is because the inventory (read: the 'cheaper' stuff) is coming out of inventory now. Yes, Nuke, I know all the stuff about it. But at the same time, they are reaping the boondoggle effects of the "marketplace". And you don't think that these guys have influence on the trading? Legally no. In reality, think again. Quote Link to comment Share on other sites More sharing options...
HuskyCaucasian Posted October 27, 2005 Share Posted October 27, 2005 QUOTE(NUKE_CLEVELAND @ Oct 27, 2005 -> 12:46 PM) They post and track the average selling price ( this is what the gas stations pay ) of Unleaded and Diesel fuel on CNBC. At the height of the Katrina crunch it was selling for something like 2.20 a gallon. Meaning that the gas stations had to pay 2.20 per gallon. Now factor in state, federal and local taxes and you see where the 3.00 plus comes from. b****ing about gas prices feels good but in reality theres not a lot people can do about it aside from conserve. Oh I totally understand that. Infact, when i was driving back from my Honeymoon in September, a gas station on the Illinois-Kentucky boarder had an explanation of gas taxes listed on the pump. I'm just thinking that they make a LOT of profit from the time they buy gas to the time the sell it for a higher cost to the time they have to buy more gas. Quote Link to comment Share on other sites More sharing options...
NUKE_CLEVELAND Posted October 27, 2005 Share Posted October 27, 2005 QUOTE(JHBowden @ Oct 27, 2005 -> 12:49 PM) Guys, look, suppose you drive 90 miles a day. That's about the distance from Joliet to Chicago and back. Now suppose gas goes up $1.00 per gallon for whatever reason. Now, my old Mirage gets 40mpg on the highway. The math comes out to-- 450 miles per week / 40 mpg = 11.25 gallons per week, or about 45 gallons a month. So you'd be paying 45 bucks extra a month if you did a monster commute. I've been there amigos. Seriously, unless you live out in Kankakee or drive a tank, you shouldn't be having a problem. With China and India industrializing rapidly, you'd think people would value good gas mileage more in anycase, but evidently people would rather not take responsibility for their own actions. Along those lines.........GM and Ford are taking it on the chin because they bet the farm on SUV sales and now they cant get rid of em. The free market has a way of correcting anomolies such as the Katrina crunch even in spite of a little short term pain to the consumer. Quote Link to comment Share on other sites More sharing options...
kapkomet Posted October 27, 2005 Author Share Posted October 27, 2005 QUOTE(JHBowden @ Oct 27, 2005 -> 06:49 PM) Guys, look, suppose you drive 90 miles a day. That's about the distance from Joliet to Chicago and back. Now suppose gas goes up $1.00 per gallon for whatever reason. Now, my old Mirage gets 40mpg on the highway. The math comes out to-- 450 miles per week / 40 mpg = 11.25 gallons per week, or about 45 gallons a month. So you'd be paying 45 bucks extra a month if you did a monster commute. I've been there amigos. Seriously, unless you live out in Kankakee or drive a tank, you shouldn't be having a problem. With China and India industrializing rapidly, you'd think people would value good gas mileage more in anycase, but evidently people would rather not take responsibility for their own actions. We drive about 60 miles a day each... the wife and I. Dallas is a little different then Chicago - everything is WAAAAAY spread out here. But I get your idea. I REALLY wish we had public transportation worth a damn here. Quote Link to comment Share on other sites More sharing options...
HuskyCaucasian Posted October 27, 2005 Share Posted October 27, 2005 (edited) I want to see what your thoughts are on this: Hydrogen In my mind, when they convert to making oNLY hydrogen cars, prices should be stable. Unlike oil, H is all around us. THere should never be a shortage. if there is, we are in DEEP trouble. lol THat whole breathing thing could be difficult. Edited October 27, 2005 by Athomeboy_2000 Quote Link to comment Share on other sites More sharing options...
NUKE_CLEVELAND Posted October 27, 2005 Share Posted October 27, 2005 QUOTE(Athomeboy_2000 @ Oct 27, 2005 -> 12:56 PM) I want to see what your thoughts are on this: Hydrogen In my mind, when they convert to making oNLY hydrogen cars, prices should be stable. Unlike oil, H is all around us. THere should never be a shortage. if there is, we are in DEEP trouble. lol THat whole breathing thing could be difficult. Here's the problem. It takes energy to extract hydrogen. How do we produce that energy? Coal, Oil, Nuclear. Any gain realized by switching to hydrogen is negated by the cost and energy consumption involved in extracting it. Quote Link to comment Share on other sites More sharing options...
kapkomet Posted October 27, 2005 Author Share Posted October 27, 2005 QUOTE(Athomeboy_2000 @ Oct 27, 2005 -> 06:56 PM) I want to see what your thoughts are on this: Hydrogen In my mind, when they convert to making oNLY hydrogen cars, prices should be stable. Unlike oil, H is all around us. THere should never be a shortage. if there is, we are in DEEP trouble. lol THat whole breathing thing could be difficult. Hydrogen is highly unstable. They don't have a good formula yet to keep it from being so unstable. And how do you get it to a usuable source? Energy - current energy. And... guess who owns the patents on almost any different type of alternative energy? I'll wait for some answers to this one. It might surprise some people. Quote Link to comment Share on other sites More sharing options...
Balta1701 Posted October 27, 2005 Share Posted October 27, 2005 QUOTE(southsider2k5 @ Oct 27, 2005 -> 11:15 AM) Tehnically yes, in a PnL sense, the effect would be negligible. For all practical purposes the refinary products would hit in the 4thQ, and the effect of the destroyed platforms is 6 months after they shutdown production. First, what does PnL mean? If the refinery repair costs don't really hit until Q4, which is probably a fair thing to say unless they started rapidly budgeting for those costs (which they probably didnt) when Katrina first hit. But isn't it also fair to say that the Katrina-related gas price spike and whatever profits were associated with it are in fact probably included in those numbers? Quote Link to comment Share on other sites More sharing options...
HuskyCaucasian Posted October 27, 2005 Share Posted October 27, 2005 That's why they are working on finding ways to make hydrogen cheaper and less energy consuming to make. Quote Link to comment Share on other sites More sharing options...
kapkomet Posted October 27, 2005 Author Share Posted October 27, 2005 QUOTE(Balta1701 @ Oct 27, 2005 -> 07:02 PM) First, what does PnL mean? If the refinery repair costs don't really hit until Q4, which is probably a fair thing to say unless they started rapidly budgeting for those costs (which they probably didnt) when Katrina first hit. But isn't it also fair to say that the Katrina-related gas price spike and whatever profits were associated with it are in fact probably included in those numbers? Profit and Loss, Balta. Profit and Loss statements are usually released each (calendar) quarter. Quote Link to comment Share on other sites More sharing options...
Balta1701 Posted October 27, 2005 Share Posted October 27, 2005 Hydrogen also has a problem in that it can be very much a greenhouse gas. Water is actually quite the greenhouse gas, but its concentration in recent times has remained roughly a function of the global temperature. If we were to use hydrogen, and even a few percent were to leak out, it would rise high up into the atmosphere where energy is actually radiated out of hte atmosphere. At this point, it would react with oxygen (helped out by solar energy causing the reaction). Then, you could potentially dramatically increase the amount of water in these key upper atmosphere layers, and thereby exacerbate the problem of global warming due to CO2. Quote Link to comment Share on other sites More sharing options...
Balta1701 Posted October 27, 2005 Share Posted October 27, 2005 QUOTE(kapkomet @ Oct 27, 2005 -> 12:03 PM) Profit and Loss, Balta. Profit and Loss statements are usually released each (calendar) quarter. Gotcha, just hadn't heard that abbreviation. Quote Link to comment Share on other sites More sharing options...
southsider2k5 Posted October 27, 2005 Share Posted October 27, 2005 QUOTE(Balta1701 @ Oct 27, 2005 -> 02:11 PM) Gotcha, just hadn't heard that abbreviation. Sorry dude, too many years on a trading floor. Quote Link to comment Share on other sites More sharing options...
Rex Kickass Posted October 27, 2005 Share Posted October 27, 2005 Unless youre driving a Prius or a Hyundai or a Metro, you aren't getting 40 miles to the gallon... Most cars get between 20-25. Quote Link to comment Share on other sites More sharing options...
Balta1701 Posted October 27, 2005 Share Posted October 27, 2005 QUOTE(Rex Kickass @ Oct 27, 2005 -> 01:22 PM) Unless youre driving a Prius or a Hyundai or a Metro, you aren't getting 40 miles to the gallon... Most cars get between 20-25. If you're driving a small car and you know how to drive it (i.e. taking your foot off the gas a ways before you get to a stop sign, not flooring it every time you restart) you can get it over 30 without the Hybrid system. Something like a Civic, Aveo, etc. You want to get above 40, either you need a really small car or the hybrid system. And again, it'll probably depend some on how you drive it. Quote Link to comment Share on other sites More sharing options...
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