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Oil Economics

Oil Companies Not Making Enough Money.

  • reg4477
  • posted by reg4477
  • Date 5/30/2008 8:39:24 AM
  • Views: 4008
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Oil Economics

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12 Comments

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SantaAndFriends : LVL 35: VP 4.3: said:

SantaAndFriends

27 votes NegativePositive

544 days 8 hours ago...

Isn`t it strange that Saudi Arabia says that it will pump as much oil as the world needs, yet the prices are still shit high?

My theory is that we`re paying off the fucking war effort in Iraq, what other way is the U.S government gonna pay off the debt??

And isn`t it also strange that if we we`re really beginning to run dry, why would places such as Dubai, Saudi, UAE all have place orders for more than 1000 next generation aircraft? They clearly know something we don`t.

Something is seriously suspicious about the way these governments are doing their business.

sabaku_no_asura : LVL 37: VP 4.5: said:

sabaku_no_asura

Hidden (Show Comment) -8 votes

544 days 8 hours ago...

^and you`re just NOW coming to this conclusion?

we need to rise up and bring ron paul into office, a coup d`etat if you will....

Verh544 : LVL 37: VP 4.5: said:

Verh544

22 votes NegativePositive

544 days 8 hours ago...

Stop driving SUVs, Trucks, Jeeps, etc when you don`t fucking need them. Then demand will go down, making gas go down....hopefully.

tylerbane : LVL 1: VP 1: said:

tylerbane

3 votes NegativePositive

544 days 6 hours ago...

U.A.E. is slated to run dry of oil before 2020. Hince the reason why they are making it more of a tourist hotspot.

AdolfOliverBush : LVL 39: VP 4.7: said:

AdolfOliverBush

4 votes NegativePositive

544 days 4 hours ago...

Oil companies are doing what`s best for their shareholders and maximizing profits... exactly what firms are supposed to do.

OPEC clearly has monopoly power and is restricting supply to make more money, but we can`t do anything about that.

Prices are determined by supply and demand. Companies will charge what people will pay. Welcome to the free market.

You want lower prices, lower demand.

Find ways around using gas, b/c China and India are starting to want gas too.

Bicycles are both healthy and cheap btw.

tuprexcunex : LVL 17: VP 2.6: said:

tuprexcunex

0 votes NegativePositive

544 days 4 hours ago...

the more we need something, the higher prices we get

Phi : LVL 32: VP 4.1: said:

Phi

17 votes NegativePositive

544 days 3 hours ago...

I still don`t get the griping about the oil companies profits. While I`m one of the first to slam corporate America, the oil industries` profit margins (the amount of profit compared to amount of revenue) are quite small for an industry...smaller than Microsoft`s (admittedly a company, not an industry), for instance.

The oil industry had profits last year of $123 billion dollars overall (http://www.americanprogress.org/issues/2008/02/high_oil.html)

Sounds like a lot, right? Guess how much gas we use in a year? 141,839,000,000 gallons (http://www.eia.doe.gov/basics/quickoil.html)

So amount per gallon profit? 86 cents. And that`s assuming that the profit statistic is not taking into account petroleum sold and used for non-gasoline purposes (plastics, fertilizers, etc), which if not the case, would cut their profit on gasoline still further.

So you still have $3 or more you`d have to pay for, if oil companies made no profits whatsoever.

That might ease the checkbook a little bit, but it still points out that there`s a huge chunk of the cost that lays somewhere other then oil company profits.

Look at prices elsewhere in the world. Some countries have costs that amount to $8 or more per gallon, when converted to gallons and dollars (from litres and euros/whatever).

Politicians want a scapegoat, because none want to admit that "Hey, you know what? This is a non-renewable resource. With all the advancing third world countries, and the industrial powerhouse that China is becoming, there`s a greater demand, and supply is limited." Politicians want easy solutions, and it`s easier to blame "the big bad corporations" then it is to try and promote alternative sources of energy (since research costs money, and requires convincing people that it`s necessary; whining and bitching is free, and -everyone- buys that).

TVX : LVL 27: VP 3.6: said:

TVX

3 votes NegativePositive

544 days 2 hours ago...

^Well said kind sir.

Dallaman : LVL 38: VP 4.6: said:

Dallaman

1 votes NegativePositive

543 days 15 hours ago...

governments.. a disgrace to humanity

hammy116 : LVL 1: VP 1: said:

hammy116

1 votes NegativePositive

543 days 13 hours ago...

Ain`t it the truth?

whatthefark : LVL 8: VP 1.7: said:

whatthefark

0 votes NegativePositive

543 days 10 hours ago...

-facepalm-

Buggerball : LVL 1: VP 1: said:

Buggerball

0 votes NegativePositive

543 days 2 hours ago...

`Slick` answer.

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