AV gas prices

Jumpin Jahosaphat wrote:
The problem Lars is the price is artificially inflated to a big degree.
As proof, in the US companies must annually report their profits. Last
year Exxon reported a profit of $4Billion US. Which is the largest profit
of ANY company of ANY product anywhere in the world, including all these
Cartel countries. The problem is one of gouging on the part of certain
companies.

Exxon Mobil said its net income for 2007 was $40.6 billion, a record for an
American company.

Royal Dutch Shell made a profit of $27.6 billion last year ($114 billion in
sales sofar this year), the biggest ever for a European company, 1st
quarter profit was $9.08 billion this year.

$89.2 billion in sales for BP, 1st quarter profit of $7.6 billion.

ConocoPhillips $4.14 billion net income for the 1st quarter. Exxon Mobil
and Chevron are both due to report 1st quarter earnings later this week.

They don't call it "black gold" for nut'n...

RST Engineering wrote:
Yes, but why in the hell did you have to quote the entire previous message
to ask a one-line question?

Jim


Probably for the same reason that you wrote a full sentence for a one
word answer. :-)

Matt

In article ,
Jumpin Jahosaphat wrote:

On Tue, 29 Apr 2008 06:25:52 -0700, Lars wrote:

tealth (still flying) Pilot

Swedish government just passed a bill that will put the price of 100LL
at SEK 18 per litre. That is 3 US$ per litre or about 11 US$/gallon. I
heard that US truck drivers are protesting about gasolin prices in the
range of 3-4 $US/gallon. Get a grip, oil is a limited resource and we
all have to pay (much more) for it to appreciate its real value. And
yes, I am still flying, but for how long...

/Lars

The problem Lars is the price is artificially inflated to a big degree.

Like with various taxes.

As proof, in the US companies must annually report their profits. Last
year Exxon reported a profit of $4Billion US. Which is the largest profit
of ANY company of ANY product anywhere in the world, including all these
Cartel countries. The problem is one of gouging on the part of certain
companies.
John

Don't be so sure of that.

For starters, look at what companies like that will have to spend in
R&D, developing new field and processes, etc etc etc.

They're not just taking the profits and locking them up in the bank.

"Steve Hix" wrote in message ...

For starters, look at what companies like that will have to spend in
R&D, developing new field and processes, etc etc etc.

They're not just taking the profits and locking them up in the bank.


Profits are stated after all the costs, like R&D, new field developement, etc etc are rolled in...

If all that profit was returned in gas price reduction it would amount to
about one tenth of a cent per gallon. No one complained all the years they
were loosing money. They also need a large r&d budget to find new oil if the
US politicians weren't so stupid and blocking them from doing their job...


"Steve Hix" wrote in message
...
In article ,
Jumpin Jahosaphat wrote:

On Tue, 29 Apr 2008 06:25:52 -0700, Lars wrote:

tealth (still flying) Pilot

Swedish government just passed a bill that will put the price of 100LL
at SEK 18 per litre. That is 3 US$ per litre or about 11 US$/gallon. I
heard that US truck drivers are protesting about gasolin prices in the
range of 3-4 $US/gallon. Get a grip, oil is a limited resource and we
all have to pay (much more) for it to appreciate its real value. And
yes, I am still flying, but for how long...

/Lars

The problem Lars is the price is artificially inflated to a big degree.

Like with various taxes.

As proof, in the US companies must annually report their profits. Last
year Exxon reported a profit of $4Billion US. Which is the largest profit
of ANY company of ANY product anywhere in the world, including all these
Cartel countries. The problem is one of gouging on the part of certain
companies.
John

Don't be so sure of that.

For starters, look at what companies like that will have to spend in
R&D, developing new field and processes, etc etc etc.

They're not just taking the profits and locking them up in the bank.

"Blueskies" wrote in message
...

"Steve Hix" wrote in message
...

For starters, look at what companies like that will have to spend in R&D,
developing new field and processes, etc etc etc.

They're not just taking the profits and locking them up in the bank.


Profits are stated after all the costs, like R&D, new field developement,
etc etc are rolled in...

Not necessarily. I am not an accountant, but AFAIK you are not
automatically allowed to expense and/or depreciate everything that would
make good business sense in the year that you might expect...

Peter Dohm wrote:
"Blueskies" wrote in message
...

"Steve Hix" wrote in message
...

For starters, look at what companies like that will have to spend in R&D,
developing new field and processes, etc etc etc.

They're not just taking the profits and locking them up in the bank.


Profits are stated after all the costs, like R&D, new field developement,
etc etc are rolled in...

Not necessarily. I am not an accountant, but AFAIK you are not
automatically allowed to expense and/or depreciate everything that would
make good business sense in the year that you might expect...

Most capital expenditures must be paid for up front and depreciated
over their life. A portion of the profits will be paid out in
dividends and a large portion put back into development of new
reserves. The biggest problem from the standpoint of the oil
companies is that each new find will cost substantially more to
develop that the current fields. The high prices are helping to make
some finds that were abandoned as unprofitable look just a little
better for development. They won't be developed though unless the oil
companies feel that there will be some stability in the market.

BobR wrote:

Peter Dohm wrote:

"Blueskies" wrote in message
.. .

"Steve Hix" wrote in message
...

For starters, look at what companies like that will have to spend in R&D,
developing new field and processes, etc etc etc.

They're not just taking the profits and locking them up in the bank.


Profits are stated after all the costs, like R&D, new field developement,
etc etc are rolled in...

Not necessarily. I am not an accountant, but AFAIK you are not
automatically allowed to expense and/or depreciate everything that would
make good business sense in the year that you might expect...


Most capital expenditures must be paid for up front and depreciated
over their life. A portion of the profits will be paid out in
dividends and a large portion put back into development of new
reserves. The biggest problem from the standpoint of the oil
companies is that each new find will cost substantially more to
develop that the current fields. The high prices are helping to make
some finds that were abandoned as unprofitable look just a little
better for development. They won't be developed though unless the oil
companies feel that there will be some stability in the market.



Everybody seems to be overlooking the tax breaks and subsidies.
Without which, gas would cost us somewhere between $10 and $12 a gallon!


FWIW

Richard

On Apr 30, 9:07 am, Matt Whiting wrote:
RST Engineering wrote:
Yes, but why in the hell did you have to quote the entire previous message
to ask a one-line question?

Jim

Probably for the same reason that you wrote a full sentence for a one
word answer. :-)

Matt

.... and top-posted for good measure!

In article ,
"Woody" wrote:
"Steve Hix" wrote in message
...
In article ,
Jumpin Jahosaphat wrote:

On Tue, 29 Apr 2008 06:25:52 -0700, Lars wrote:

tealth (still flying) Pilot

Swedish government just passed a bill that will put the price of 100LL
at SEK 18 per litre. That is 3 US$ per litre or about 11 US$/gallon. I
heard that US truck drivers are protesting about gasolin prices in the
range of 3-4 $US/gallon. Get a grip, oil is a limited resource and we
all have to pay (much more) for it to appreciate its real value. And
yes, I am still flying, but for how long...

/Lars

The problem Lars is the price is artificially inflated to a big degree.

Like with various taxes.

As proof, in the US companies must annually report their profits. Last
year Exxon reported a profit of $4Billion US. Which is the largest profit
of ANY company of ANY product anywhere in the world, including all these
Cartel countries. The problem is one of gouging on the part of certain
companies.
John

Don't be so sure of that.

For starters, look at what companies like that will have to spend in
R&D, developing new field and processes, etc etc etc.

They're not just taking the profits and locking them up in the bank.

If all that profit was returned in gas price reduction it would amount to
about one tenth of a cent per gallon. No one complained all the years they
were loosing money.

But you can bet they'll be blamed for problems related to aging refinery
infrastructure and so on.

They also need a large r&d budget to find new oil if the
US politicians weren't so stupid and blocking them from doing their job...