deri, do you happen to know what both companies' profit margin is? 


--- On Tue, 4/29/08, Deri James <[log in to unmask]> wrote:

> From: Deri James <[log in to unmask]>
> Subject: Re: 10 dollar a gallon gas?
> To: [log in to unmask]
> Date: Tuesday, April 29, 2008, 8:42 PM
> 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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