And I thought I was paying 3.50/gal because it was necessary! At least they could have passed out some KY in the midst of their profit spree to make it slightly less painful for the people that they were (fill in the blank)


http://money.cnn.com/2005/10/27/news...reut/index.htm

Well everybody knows we're getting the biggest shaft around! Then you have people saying it's "supply and demand" yep they will cut the supply and demand more $$$.Kevin

2004 silverblue 5 sp.

This should have come out the week before the next election....

61.5mpg lifetime - 82mpg in recent months

Best Run >
www.cleanmpg.com

"fanatic" is what the lazy call the dedicated

election spelection. Politician = Dirty I don't care who they are. If you turned politician, you too would soon become dirty.

I just hope that when the execs of Exxon orders his dinner to celebrate, I hope he chokes on it. Slowly.

There is no free market in respect to oil-energy production.It makes me want to puke when someone suggest that"the market knows best".OPEC price fixes and "our" oil companies and refiners benefit from it.
There currently is no competition in the "oil" bidness.The only plus is that this "price fixing" is forcing us to conserve and develope "other"energy sources well before there is an actual shortage of oil.Thanks.Charlie

At least some good is coming of it -- the high oil prices are convincing many people to buy fuel-efficient cars. Hybrids may be the minority but that's inconsequential -- fuel economy is now a big concern of people so a bunch of people are ditching SUVs and going with cars, for example.

I haven't paid any attention to the numbers, but has anyone looked at what the oil companies gross profit was as a percentage? I keep hearing they made $9 billion, $10 billion, whatever but how has their percent profit performed.

If the percent profit has stayed constant then the record profits are a result of increased revenue due to higher prices and higher demand. If their percent profit has also increased greatly then I would say they are gouging.

Every company is in business to make a profit, right? Even the big bad oil companies are entitled to do so. Is there profit margin in line with other big businesses? I'm sure many of you, like me, have stocks or mutual funds that are invested in big companies, including oil companies. The stocks and funds do well when the companies make money.


Not saying I like higher gas prices at all. Just saying you need to look at all the numbers.

JMO

EDIT: found the following editorial written by Exxon - found it pretty interesting. We should be a lot more angry at banks than oil companies.

http://www.exxonmobil.com/Corporate/...doilapples.pdf

I wonder how much Exxon and their competitors are investing in alternative energy. The oil industry is doing well at the moment like the railroad industry was in the late 1800s. As the college case study taught - the railroads should have thought out of the box and realized they were in the transportation business before trucking lines, airlines, etc. took their market share away....

61.5mpg lifetime - 82mpg in recent months

Best Run >
www.cleanmpg.com

"fanatic" is what the lazy call the dedicated

I know BP and I believe Sunoco both own Solar companies. BP has a Solar plant up in Fredrick, MD.

I forsee a few old giants becoming very popular again, particularly companies in the nuclear energy business. I actually see China being one of our biggest customers for nuclear energy. I know one of the older corporations involved in this is hiring like crazy. A friend works for them and I've thought about moving back to work for them also.