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Topic: Exxon makes $10 billion this quarter
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AcidWarp
Sarge
Member # 997
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posted 09-13-2005 05:40 PM
    
Forbes is predicting that the price of the cost of crude is a bubble that is going to burst. Much like Dot Com.Prices at the pump reflect the cost/barrel, so the oil companies have inflated the cost/barrel. I think the prediction was it's going to crash back to $30/barrel. -------------------- “I have noticed even people who claim everything is predestined, and that we can do nothing to change it, look before they cross the road.” “Intelligence is the ability to adapt to change.” --Dr. Stephen Hawking.
Posts: 4363 | From: Waterloo, Ontario | Registered: Nov 1999 | IP: Logged
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WillyTrombone
Sarge
Member # 27
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posted 09-15-2005 02:12 AM
I don't think it's going to burst. As consumers, we're a captive audience. We need our gas. They know that. Did you notice how when the hurricane hit, there was an instant price hike nation wide? I can understand if the supply dwindled due to a diminished production capability, and subsequently shifted the price upward, but that would take at least a couple of days to sweep across the country. It's not an overnight crunch. And now that production is almost fully restored, gas is still 15-20 cents more per gallon than before the hurricane. My own theory is that since it has finally climbed over $3/gal here, it'll stay around that and push up farther. They've crossed that barrier and now that people are acclimated to the higher price milestone, they'll creep back up there. I bet that next summer, it'll be as high through most of the summer as it was the week following the hurricane (in those areas not directly affected by the storm, anyway), and will probably never drop below that threshold again. The same thing happened 5 or 6 years ago when it crossed $2/gal here. They assured us it was a temporary supply issue and that production would pick up and we'd see better prices. The prices did fall temporarily but six to twelve months later, they permanently passed the the mark. And it would be especially interesting to see just how much the government is getting off gas taxes. I know it's at least 40 percent, maybe even as hgh 70. When you consider the amount spent on gas, that's a huge revenue pool. It's not in their interests to regulate antitrust matters against the petroleum interest, even if it is in ours. -------------------- signature
Posts: 2844 | From: the edge of forever | Registered: Jun 1999 | IP: Logged
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AcidWarp
Sarge
Member # 997
Member Rated:
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posted 09-15-2005 02:23 AM
I'm in full agreement with you WillyT, I was simply mentioning what Mr. Forbes said.I think we're cynics. -------------------- “I have noticed even people who claim everything is predestined, and that we can do nothing to change it, look before they cross the road.” “Intelligence is the ability to adapt to change.” --Dr. Stephen Hawking.
Posts: 4363 | From: Waterloo, Ontario | Registered: Nov 1999 | IP: Logged
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AcidWarp
Sarge
Member # 997
Member Rated:
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posted 09-17-2005 12:38 PM
Wimps, ours works out to $4 a gallon without counting exchange rates. $1.05-$1.10/litre.-------------------- “I have noticed even people who claim everything is predestined, and that we can do nothing to change it, look before they cross the road.” “Intelligence is the ability to adapt to change.” --Dr. Stephen Hawking.
Posts: 4363 | From: Waterloo, Ontario | Registered: Nov 1999 | IP: Logged
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The Jakeman
Sarge
Member # 295
Rate Member
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posted 09-18-2005 05:17 PM
quote:
Originally posted by GFKiller:
Fucking scumbags..
i agree... those stupid consumers and their fear-hoarding, driving up prices like mad. after katrina, there was an old lady on my street that went around to every house telling people to BUY GAS NOW BEFORE IT GOES UP!!! so they did. fools. -------------------- lamo mac boy
Posts: 800 | From: Modesto, California, USA | Registered: Jul 1999 | IP: Logged
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AcidWarp
Sarge
Member # 997
Member Rated:
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posted 09-19-2005 09:52 AM
Either that Willy, or our higher taxation reflects the fact that we signed the Kyoto Accord.I would like to be clear though, while the higher prices are aggravating, they do seem to reduce the amount of useless driving people do. (going to the store for a bag of chips kinda thing). I've also noticed a reduction in the amount of time people spend idling their cars. I can't help but think those are good things, and I'll put up with higher fuel prices, just for those reasons. [ 09-19-2005: Message edited by: AcidWarp ] -------------------- “I have noticed even people who claim everything is predestined, and that we can do nothing to change it, look before they cross the road.” “Intelligence is the ability to adapt to change.” --Dr. Stephen Hawking.
Posts: 4363 | From: Waterloo, Ontario | Registered: Nov 1999 | IP: Logged
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AcidWarp
Sarge
Member # 997
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posted 09-19-2005 02:15 PM
You should see the math on how much pollution is emitted by a city of people idling their cars. Seriously, I'm against idling.-------------------- “I have noticed even people who claim everything is predestined, and that we can do nothing to change it, look before they cross the road.” “Intelligence is the ability to adapt to change.” --Dr. Stephen Hawking.
Posts: 4363 | From: Waterloo, Ontario | Registered: Nov 1999 | IP: Logged
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WillyTrombone
Sarge
Member # 27
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posted 09-19-2005 11:57 PM
plowing is for grannies in minivans. What you really want is 1500 hp 4wd truck with 8 foot tall tires. going over is way more efficient than trying to go through. -------------------- signature
Posts: 2844 | From: the edge of forever | Registered: Jun 1999 | IP: Logged
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