Screw the Oil Companies

“Well I see Chili has some sense and lots of common intelect as well. I agree Chili....

They all are making money and lots of it.”

“Yea take that Yogi and Nigal..”

“Does Exxon pull any oil straight out of the ground and process it into gas?”

“ExxonMobil uses innovation and technology to deliver energy to a growing world. We explore for, produce and sell crude oil, natural gas and petroleum products.”

“LOOK at Natural Gas prices......YALL......It's our home land gaz righ in our own country and it is keeping pace with oil prices.......now tell me our LOCAL oil TYCOONS are not making any profits......BURN baby BURN....”

“[i]Does Exxon pull any oil straight out of the ground and process it into gas?”
ductape
8:55:26 PM
8/30/08[i]


You are supporting not only the crooks over there in those sandy areas of the world ....you are also supporting the HOME TOWN crooks here at home.....”

“So that fact alone shows that Exxon is not paying market price for a barrel of oil, does it not?

Fridge, I'm against crime.”

“


http://tonto.eia.doe.gov/oog/info/gdu/gasdiesel.asp

Do the math...

$4.06 * 76% = $3.09 (oil cost)
$4.06 * 11% = .45 (taxes)
$3.08 + .41 = $3.54 (base cost to consumer)

if it were totally FREE to refine oil to gasoline, market it for FREE, and deliver it to gas stations that were run for FREE then the CHEAPEST gas could get is $3.54.

the rest (52 cents) has to cover refining costs, marketing costs, distribution costs, and finally yes, windfall profits.

the reason the oil companies are making so much money is because we keep burning more and more of what they have to sell.
last edited: 8/31/08 1:52:03 PM”

“Don't forget $1.49 for the sweetened-deal iced tea.

- salebored”

“Definition of Terms: http://tonto.eia.doe.gov/oog/info/gdu/pump_methodology.html

Crude Oil - the monthly average of the composite refiner acquisition cost, which is the average price of crude oil purchased by refiners.

Refining Costs & Profits - the difference between the monthly average of the spot price of gasoline or diesel fuel (used as a proxy for the value of gasoline or diesel fuel as it exits the refinery) and the average price of crude oil purchased by refiners (the crude oil component).

Distribution & Marketing Costs & Profits - the difference between the average retail price of gasoline or diesel fuel as computed from EIA's weekly survey and the sum of the other 3 components.

Taxes - a monthly national average of federal and state taxes applied to gasoline or diesel fuel.”

“Thanks! All this time I thought crude oil was oil that told fart jokes at the dinner table.

What's 'spot price' & 'proxy'?”

“"spot price" is the price for something that you immediately pay for and take delivery of.”

“if it were totally FREE to refine oil to gasoline, market it for FREE, and deliver it to gas stations that were run for FREE then the CHEAPEST gas could get is $3.54.


Yogisan
2:48:27 PM
8/31/08


That's incredible, because it is selling for $3.45 in Knoxville right now.

Can you believe it? Southern Appalachia is being subsidized by big oil.

I take back everything I said.”

“you should...

the link to the EIA web site that I provided (that you clearly did not read) provides US gasoline prices on a regional basis and the average price breakdown based on July fuel prices. they haven't updated the numbers for august yet.”

“First of all, let me say you did wonders for your arguement by providing some data. While I haven't read the information in the link yet, I assure you I will.

I also look foward to getting some historical information as to the cost of raw material as a percentage of retail costs. Seems to me that it should remain fairly constant. After all, what drives the price of gasoline up and down?

But, with just a cursory glance, it appears the data assumes all gasoline is derived from oil on the spot market, which, surely we all know is not a fact.”

“Chili has a point here. Exxon and Amoco are making big profits on crude. How many GAZ station along the interstate are closing down because they are loosing? My uncle who has a Texaco franchise tells me he is making more profit today just on gas sales and he has been in the business for 25 years. He doesn't offer any other service , just GAZ...and snack machines ,,,,,no Mc D's or walk in store. He tells me he is making a very good living just selling GAZ.”

“Yogy do u gots pi charts. I likes pi...mmmmmm.”

“



http://www.fedstats.gov/kids/mapstats/sconcepts_pie.html”

“How much does it cost the oil company to produce a gallon of gasoline when they are the pumper, refiner, and retailer, all in one? This may not be a valid question as I know Exxon is getting out or has already gotten out of the retail gasoline business.”

“I'm hungry....”

“Oil is like $75 dollars a barrel now. If it stays here, or goes lower (unlikely) and now that most of the refineries are back online (I think at least 1 is still shut down) I expect gas prices to start heading back to $2.75/gal (national average) or lower for many places.”

“Don't look now hyway, but oil has dropped to $69.75 a barrel”

“The Liberals blame Bush?”

“Oops, was it 75 yesterday or do I need to clean out my ears. I thought I heard my morning news man say it was $75.”

“It may have been at 75 yesterday, however it has been dropping like a rock so who knows.

The only problem with oil this low is that you probably will not see any new drilling which means we will also put other forms of energy on the back seat.”

“Opec will simply cut production...”

“Yep, they are meeting the first or second week in NOV and you can bet production will be cut in half or perhaps more.”

“if they all work together. I bet they have lost their cohesiveness.

I agree with you wounded knee. The best thing about the fake oil crisis is that it gave us a scare while we still have time to do something about it. With prices falling so fast, the poor economy, the amount of money we have to spend on this bailout, not to mention the gobs of money needed to keep our highway infrastructure from collapsing, all this will cause politicians to start looking for place sto not spend money. Say good bye to windmills, nuke plants and alternative energy sources. Although I don't know if that would stop the construction of new wells off the east coast if the oil companies are allowed to drill there.”