again do you know what their profit margins are?
--- On Tue, 4/29/08, ksalkin <[log in to unmask]> wrote:
> From: ksalkin <[log in to unmask]>
> Subject: Re: 10 dollar a gallon gas?
> To: [log in to unmask]
> Date: Tuesday, April 29, 2008, 8:51 PM
> I admit I sent my answer before reading of the huge profits
> of the oil
> companies - they sure are greedy! But I still think the
> weak dollar comes
> into play in some form for us Americans regarding the price
> of oil.
>
> Kat
> -----Original Message-----
> From: Cerebral Palsy List
> [mailto:[log in to unmask]] On Behalf Of
> Deri James
> Sent: Tuesday, April 29, 2008 8:42 PM
> To: [log in to unmask]
> Subject: Re: 10 dollar a gallon gas?
>
> On Tuesday 29 April 2008 20:54:16 Cleveland, Kyle E. wrote:
> > Has anyone been able to give a succinct,
> three-sentence-or-less
> > rationale on why crude prices have jumped so
> astronomically in the last
> > year. During the OPEC crisis of the '70s there
> might have been
> > shortages, but the price at the pump did not skyrocket
> in the manner
> > it's doing now.
> >
> > Kyle
> >
>
> Hi Kyle,
>
> I'll give you a two word answer:-
>
> Rampant capitalism!! ;-)
>
> (BP & Shell announced a PROFIT of $14,700,000,000 in
> just 3 months!!!)
> That's
> after all their costs, tax, R&D, drilling exploration,
> executive bonuses,
> etc., their left with that amount of profit in 90 days!!!
>
> See:-
> <http://news.bbc.co.uk/1/hi/business/7372509.stm>
>
> And this is just 2 oil companies, what about Texaco, Exxon,
> ...
>
> I can see why the cost of crude has gone up - increased
> demand v. supply
> factored with increased uncertainty about future supply.
>
> What galls is how highly "geared" this commodity
> is, everyone takes a %
> price,
> rather than a flat-rate based on volume:
>
> Refining
> Taxation
> Retail
>
> all charge as a percentage of the price, so any change in
> crude soon gears
> up
> to a larger change in gas/petrol.
>
> Cheers
>
> Deri
>
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