OIL

[txswinner]

Re: OIL

JB, Publicly traded corp. must provide correct and accurate financial reports by honest accounting companies. Results if not done properly Savings and Loan Scandals, Enron etc etc. That is what being a CPA is supposed to mean, honest, trustworthy, guardian of the American Accounting System. When they fail for whatever reason then the country suffers.

 

[tommays]

Re: OIL

well i dont no but the supply is really controled by OPEC who pumps enough to keep the price at a level they like <br /><br />then the Commodities markets tweak the price buy the second buying and selling futures<br /><br />then all the other stuff happens<br /><br />it might be a free market but there seems to a lot of tweaking going on to make profits before it ever gets to the evil oil company <br /><br /><br />tommays

 

[DJ]

Re: OIL

txs,<br /><br />

JB, Publicly traded corp. must provide correct and accurate financial reports by honest accounting companies. Results if not done properly Savings and Loan Scandals, Enron etc etc. That is what being a CPA is supposed to mean, honest, trustworthy, guardian of the American Accounting System. When they fail for whatever reason then the country suffers.

SUE EM', TXS-SUE EM'.<br /><br />You seem to be a man of means-put your money where your mouth is. There are plenty of Liars (lawyers) out there that will take on your cause, if you mean it, which I doubt.<br /><br />You made a comment about my mouth, now it's MY turn. Put it where where your mouth is. <br /><br />We'll be watching.

 

[txswinner]

Re: OIL

Tommays, You think!!! And when profits rise 30% when a shortage of the raw product exist for the company that makes the final sale it would indicate more than just a shortage was corrected for right. HMMMMM more conspiracy, that guy on TV was probably a look alike and not EXXON CEO at all but some left wing liberal conspirator.<br /><br />Remember Supply and Demand.

 

[JB]

Re: OIL

If profits rose 30%, where were they before?<br /><br />Less than 10% profit is still less than 10%, whether it is $10 or $10 bazillion. If sales rise, profit will rise in raw numbers, but not necessarily in percent of sales.<br /><br />You are still witch hunting txs.<br /><br />Exxon Mobil is not Enron, nor is it a S&L.<br /><br />You need to examine your blanket "big is evil, successful is evil, rich is evil" theory. <br /><br />Like a lot of folks I lost money on Enron, but I don't blame anybody but Enron and me for that.

 

[waterone1@aol.com]

Re: OIL

The problem as I see it, is that we no longer have a free market. What options do the consumer really have ? Talk about price fixing, why is it that every gas station in a twenty mile radius has the same price or within a cent of each other ? Why do they all raise their price (or lower it) at the same time ? Other than a gimick, when was the last time a particular gas brand chose to under-cut the competition to gain market share ?<br />If you compare gas to electronics, jewelry, cars, bedding....just about anything else, there is a big difference. Perhaps essentials (ok, commodities) need to be treated differently.

 

[txswinner]

Re: OIL

DJ, The horrible legal system did sue and bring criminal action. Guess you were too busy listening to Rush but look around for Arthur Andersen.<br /><br />I am sure you were not name calling, you know the liar lawyer deal but that is fine. But your remark is understood and yes I do believe in our legal system. Some lawyers are good folks and some are bad. I have dealt with both, but without the legal system, without the check and balances, without dissent; only anarchy could exist.<br /><br />Waterone, you are exactly on point, well put.

 

[JasonJ]

Re: OIL

I know a couple of different people who own gas stations. Everybody raises and lowers their prices at the same time for the same reason: to make money. If one station drops its price 2 cents, the others have to follow or they lose business. In a way, they are keeping each other in check. One owner I know refused to raise his price one time and the other stations were furious. It was coming up on a holiday weekend and the stations here always jack the price to make some extra green, and he refused. They had no choice but to keep their prices at his level or lose business. They called him almost hourly harassing him, and he refused. It was comical, but it taught me one valuable lesson. Those "poor" gas stations make more money than they claim to, at least in my area. They are not starving at all, and they have no problem charging 20 cents more a gallon than the next town 40 miles south of us because they know we won't drive that far for gas. Oh well...

 

[demsvmejm]

Re: OIL

Originally posted by JB:<br /> If profits rose 30%, where were they before?<br /><br />Less than 10% profit is still less than 10%, whether it is $10 or $10 bazillion. If sales rise, profit will rise in raw numbers, but not necessarily in percent of sales.<br />

JB, you are way off the point. Either that or you are so far right-of-center that you can't see reality. There was a "Supply shortage" meaning there was less product to sell. Yet the oil company's profit rose on decreased unit sales. Sell less, make more, sounds good to me. Sounds like do less make more, even better.<br /><br />Supply and demand only works to regulate prices when there is choice in the marketplace. In the fuel marketplace there are two choices, pay the price or don't drive, not much of a free market there. The oil companies do correlate there prices and practices, hey it makes them tons of cash. If you don't believe this then you are delusional.

 

[Mark42]

Re: OIL

I put in a request for the oil companies to nuke the middle east. I figure that should increase the value of oil in north and south america.<br /><br />Happy now?

 

[JB]

Re: OIL

Wrong, David. There was no shortage, there was a big jump in the price at the wellhead and at the refinery. They had to pay more for it so they sold it higher.<br /><br />If not seeing an evil conspiracy behind everything that happens that I don't like makes me right wing, then I plead guilty, but I don't think that makes me right wing. <br /><br />I think those who see evil conspiracy in all who win the rat race need a dose of reality and need to get out of the perpetual victim frame of mind.