Ya don't say

[monkey neck]

http://moneycentral.msn.com/content/CNBCTV/Articles/Dispatches/P134024.asp?ShowResults=1&HasVotedTwice=#Vote

I'm speechless. So we're not getting gouged how, again?

$100 Billion. With a B.

[Wondertastic]

they've all been posting double digit profits. i don't care if they are making profits on speculation, the consumer gets hosed. they certainly don't try to ease the burden, but such is the world of business.

[miami2112]

this is what's wrong with an oil based economy.

[Orville Wrong]

this is what's wrong with an oil based economy.
We don't have an oil-based economy. :rolleyes:

[Homsar]

Jesus. Who gets all this?

[gwar469]

the oil company profits are directly related to the high price of crude oil. the price of gas at the pump has little to do with the high profits. these high profits won't last, and if the oil price drops, profits altogether will vanish, and the oil companies will begin losing money.

[Homsar]

That's why they're investing it now, right?

[gwar469]

That's why they're investing it now, right?

ExxonMobil has a lovely history of giving ridiculously low dividends to its shareholders (it will probably be $0.27/share this quarter), and then investing the rest of the money into repurchasing their own stock and other investments. They like to speak up that they've had so many quarters of increasing dividend payments, but the payments are so miniscule, it doesn't really matter anyway.

but yeah, the possibility of lowering oil prices is why they'd be investing the money now. these high profits won't be lasting forever.

[Orville Wrong]

Average U.S. prices for a gallon of unleaded gasoline, for each year since 1976, in 2005 dollars:

1976 $1.391
1977 $1.447
1978 $1.427
1979 $1.822
1980 $2.342
1981 $2.450
1982 $2.224
1983 $2.090
1984 $1.987
1985 $1.930
1986 $1.471
1987 $1.469
1988 $1.428
1989 $1.491
1990 $1.638
1991 $1.555
1992 $1.504
1993 $1.445
1994 $1.422
1995 $1.434
1996 $1.503
1997 $1.478
1998 $1.252
1999 $1.352
2000 $1.701
2001 $1.604
2002 $1.470
2003 $1.686
2004 $1.941
2005 $2.287

[Homsar]

Think it'll go down to $1.42 again in about 5 years?

[Tripod 3]

We don't have an oil-based economy. :rolleyes:

Now I know you are delusional. :confused:

[jps]

the price of gas at the pump will go down if there is a large drop in demand (use less gas on a large scale, and the supply of gasoline at the gas station will be higher than demand... price will drop...maybe...). you have to keep in mind though that the gasoline consumers have shown a willingness to pay the current prices - that means that the current price is not too high by market standards. this is capitolism.

the current price of gasoline as pointed out above is actually not that expensive in today's dollars.

[DaHood]

you have to keep in mind though that the gasoline consumers have shown a need to pay the current prices because they have to go to work - that means that the current price is what people have to pay regardless of where else they have to cut to get the money.
There, I fixed that for you.

the current price of gasoline as pointed out above is actually not that expensive in today's dollars.
This I agree with, however the sudden doubling of fuel prices is detrimental to the economy, and reeks of gouging.

[jps]

There, I fixed that for you...
...you have to keep in mind though that the gasoline consumers have shown a need to pay the current prices because they have to go to work - that means that the current price is what people have to pay regardless of where else they have to cut to get the money.

You didn't really fix that you made the truth sound as harsh as it actually is. Don't get me wrong I understand what you mean here, but that is the nature of the economy that we live in. The gasoline market is currently sustaining the current price. In a fairly free market, this is what happens. If this price couldn't be sustained, the price would fall.

Support and use public transportation.

[markalot]

You didn't really fix that you made the truth sound as harsh as it actually is. Don't get me wrong I understand what you mean here, but that is the nature of the economy that we live in. The gasoline market is currently sustaining the current price. In a fairly free market, this is what happens. If this price couldn't be sustained, the price would fall.

Support and use public transportation.

Public transportation is incomplete. I could not use public transportation to get to my place of work in either my old house or my new house. My dad, who worked downtown before he retired, took the bus from Finneytown, and when we lived in Chicago he took the train. I wish I had those options.

At the same time, it's people like me who can afford not to use public transportartion, even if gas prices go higher. It's the middle and lower middle class who again gets crushed. We don't have a centralized business district anymore, so many are not covered by public transportation.

So I'm not so sure the economy can correctly control gas prices. Gas has become a necessity and as such people are forced to pay for it until they just plain can't afford it anymore. That's not healthy.

In the meantime, ignoring the negative realities, high gas prices are terrific for getting auto mfg's to develop alternative fuel cars and putting moronic companies like GM on the ropes. SUV sales tank, econo box sales rise, all kinds of positive benefits.

[DaHood]

You didn't really fix that you made the truth sound as harsh as it actually is. Don't get me wrong I understand what you mean here, but that is the nature of the economy that we live in. The gasoline market is currently sustaining the current price. In a fairly free market, this is what happens. If this price couldn't be sustained, the price would fall.

Support and use public transportation.
A fair and free market has competition which is an important factor in setting prices. Oil is controlled by a cartel that sets it's own rules and it's own prices.

[Handy Smurf]

Average U.S. prices for a gallon of unleaded gasoline, for each year since 1976, in 2005 dollars:
1998 $1.252

My first year driving and I believe that, for the most part, gas around here was about 90 cents to $1. In the fall of '98, I remember when gas plummeted for a couple weeks straight. I filled my tank when it hit its lowest point, 69 cents/gallon.

Believe it kids

[jps]

Public transportation is incomplete. I could not use public transportation to get to my place of work in either my old house or my new house. My dad, who worked downtown before he retired, took the bus from Finneytown, and when we lived in Chicago he took the train. I wish I had those options.

At the same time, it's people like me who can afford not to use public transportartion, even if gas prices go higher. It's the middle and lower middle class who again gets crushed. We don't have a centralized business district anymore, so many are not covered by public transportation.

So I'm not so sure the economy can correctly control gas prices. Gas has become a necessity and as such people are forced to pay for it until they just plain can't afford it anymore. That's not healthy.

In the meantime, ignoring the negative realities, high gas prices are terrific for getting auto mfg's to develop alternative fuel cars and putting moronic companies like GM on the ropes. SUV sales tank, econo box sales rise, all kinds of positive benefits.
right on about public transportation being incomplete. its dreadful here in the cincy area if you ask me. I can't use it with any regularity at all... but if i could hop a train to get downtown, and then take a bus around the city i would be all over that every day.
i still think we need an "apollo" type project to spur scientific development of alternative energy sources.
something to think about... does the fact that there are those of us that can afford to pay the current prices indicate that in terms of supply and demand that the price of gas is too cheap. not enough of us have been priced out of the market to drive demand down. maybe we just need to all move away from the suburbs back to the cities to cut down on consumption of gasoline and to create those centralized business districts...

[tobedawg]

Gouged? Ya Don't Say!

POWER TO THE CORPORATIONS!

VIVA LA REVOLUTION!

[DaHood]

Gouged? Ya Don't Say!

POWER TO THE CORPORATIONS!

VIVA LA REVOLUTION!
You go, Che! :p

[miami2112]

this still blows my mind.

10 billion in profits. duh-am.