Whitey741 Posted March 7, 2008 Author Report Share Posted March 7, 2008 Why are you burning your computer up by putting it on here? It wont do you any good, unless your just killing time. LOL Yes... I was just killing time. I titled it the way I did because that is the way it is presented in the media. I thought it would stir a little interest and maybe even provoke some thought. I don't like the price of gas/race fuel any more than the next guy. That considered, the last thing I want in my business is the government telling me what I can and can't charge! I understand that oil companies are much larger but just like smoking, let em get a foot in the door and we are all in trouble. From a bonehead's (me) perspective, I just look at the percentage of profit and think it is not that large. I was shown to be wrong. I learned from this thread that an average margin in a restauraunt is 3-5% (full service) (Thanks TD). I would have argued that number until I did my own research yesterday and it was backed up by what I read. I also looked at several other large companies and I found that some of the "green" energy companies margins are larger than Exxon. (ABB) for instance . Home Depot (HD) though is only operating on a 5.6% margin which is much thinner. I do find the discussion very interesting Link to comment Share on other sites More sharing options...
ProTree Posted March 10, 2008 Report Share Posted March 10, 2008 Monday morning and a barrell of crude is at $106.84,guess it will hit $107 shortly Link to comment Share on other sites More sharing options...
Budman Posted March 10, 2008 Report Share Posted March 10, 2008 Yes Tommy, it has hit $107. The fact that oil itself is getting more expensive is just half the problem. The other side of the coin is the US dollar is simply worth less than it was. That's caused by the huge deficit spending on the part of the Federal Government, creating money that didn't exist just a few years ago. That sets up the situation of more and more dollars chasing the same amount of goods. THAT is called INFLATION and that is going to hurt a lot of us financially in the months and years to come. Link to comment Share on other sites More sharing options...
ProTree Posted March 10, 2008 Report Share Posted March 10, 2008 Budman,Been sitting here watching the market all day and it's hard to find a green arrow pointing up,nearly everything is red and pointing down and the crude isnt far from $108 now.I think they call 401's now a .401 or maybe a .0401 Link to comment Share on other sites More sharing options...
Lonesome Ford Posted March 12, 2008 Report Share Posted March 12, 2008 $4/gal for diesel in LaVernia Link to comment Share on other sites More sharing options...
LM109 Posted March 12, 2008 Report Share Posted March 12, 2008 I deal with the oil companies on an everyday basis. If they reach a 4-5 % they are happy. 11-12% is them ripping us off. Oh and by the way just wait another 30 days it will 30 -40 cents higher... Link to comment Share on other sites More sharing options...
ProTree Posted March 12, 2008 Report Share Posted March 12, 2008 wed and it just hit $109 a barrell and climbing.This is getting way out of hand. Link to comment Share on other sites More sharing options...
HiTech Posted March 12, 2008 Report Share Posted March 12, 2008 wed and it just hit $109 a barrell and climbing.This is getting way out of hand. and no real shortage ..just money hungry jerks ..aslong as all the oil producers can get away with ripping us off .it will keep on getting higher and higher .with no end in sight ...and people keep saying just park your cars ..bs volume selling ..park your car and see where the price goes from there... they have to make it from the one's who keep driving so the price will still go up ..uncle sam your letting us down ..11 gallons of gas yesterday .cost just over $36. dallors ..what will it be next month ... Link to comment Share on other sites More sharing options...
ProTree Posted March 12, 2008 Report Share Posted March 12, 2008 $110+,the dollars weak and euro strong,that's one problem,others get more bang for their buck Link to comment Share on other sites More sharing options...
Definitive Posted March 12, 2008 Report Share Posted March 12, 2008 Just some things I was pondering: --Is the president going to come out of this looking like a genius because we now,for all intents and purposes,have control of the second largest oil reserves in the middle east?He really should have told the truth and said,yes we are going into Iraq for the oil.(we haven't touched a drop of it yet,but when will we?@$120 a barrel?) --Have we been kissing ass to the country,whose countrymen instigated and went through with 911,because the administration's economists saw this coming with the never ending growth of China,India,and many other far Eastern nations?When does our government start "drawing down" on the Saudi'?(@$120 a barrel?) --The falling dollar is making it impossible for companies to justify manufacturing in foriegn countries,not to mention the ever rising cost of shipping now.In his state of the union speech the President seemed unworried(if that is a word)about the dollar's devaluation.Is it because higher shipping prices,and falling labor costs here in the states due to that falling dollar could be just what the doctor ordered? --With the lack of "panic" on the part of our current administration,it leads me to maybe naively believe that there are some good things at work here economically.I mean,how can they just be sitting there during an election year,and not do anything substantial,with the possibilty of losing the presidency and even more of the house and senate seats?It is easy to just sit back and say--they are just a bunch of bumbling idiots--but I think saying that would be idiotic in itself. --Are there any true economists on this board that can weigh in on any of my crazy thought?Please do. --I am a strong conservative when it comes to economic issues.With that being said,I have to admit that I see the strongest move the government could do to curve inflation right now would be to(and this pains me)put a price cap on the cost of diesel for all lisenced commercial vehicles.Put a stop to the spiralling shipping costs and you put a damper on inflation....overnight.In my buisness we went from 1984 to 1996 without any price increases.With the explosion in product costs,due strictly to shipping, we now have to increase our prices every 6-8 months just to keep up. --It will cost us oproximately $250 for three people to attend the races at HMP this weekend.We are coming from San Antonio.We just hope some of the drivers that won't be there because of "casual" reasons think about it when they decide to not perform for us Saturday.This weekend's car counts will absolutely determine whether or not we travel that far for local short track racing again. ---Let's go racing. Link to comment Share on other sites More sharing options...
HiTech Posted March 13, 2008 Report Share Posted March 13, 2008 turbo.. i will predict ..that once all this who will be both party.s leaders is said and done .... the smartest one who wants votes ..will open his mouth aboult all the above said by you .. and watch out ...if neither one speaks aboult any of this ..then we will waste our votes on both of them ..for neither would really give a damn aboult the little poeple ..and my last name is mccain .. Link to comment Share on other sites More sharing options...
tps48 Posted March 13, 2008 Report Share Posted March 13, 2008 Turbo, something else I have been watching is the relative price for a barrel of oil. Everyone freaks out when oil hits $100-110 a barrel, thats dollars. The price per barrel in Euros has stayed very constant. A lot of the rise is more due to a weak dollar than to any crises in oil land. A stronger dollar will bring the price down in dollars. Link to comment Share on other sites More sharing options...
Budman Posted March 13, 2008 Report Share Posted March 13, 2008 Precisely! Link to comment Share on other sites More sharing options...
tqj3 Posted March 13, 2008 Report Share Posted March 13, 2008 TurboD- Don't forget, though, that if you price control one thing, you have to price control everything. For instance, you can't put a lid on Diesel prices without putting a lid on the price the Diesel retailer has to pay for the fuel. Then you have to price control his suppliers' suppliers. Nixon tried it. Didn't work. Link to comment Share on other sites More sharing options...
ProTree Posted March 13, 2008 Report Share Posted March 13, 2008 when i left seguin tonite diesel was 3.99.9 a gallon.fuel's getting hi,but keep an eye on the food.guess i'm going to have to cut done on my 3 rib-eyes a week Link to comment Share on other sites More sharing options...
1-Crew Posted March 13, 2008 Report Share Posted March 13, 2008 The news the other night showed a very indignant Boeing griping about the fact that Air Bus won a huge government contract to supply in-air fueling tankers. Conveniently left out was the fact that Air Bus had announced several months ago that if it did get the contract it would build an assembly plant in Alabama. The weak dollar and high transportation cost would seem to have had the desired affect of keeping those manufacturing jobs in the US. Link to comment Share on other sites More sharing options...
Whitey741 Posted March 13, 2008 Author Report Share Posted March 13, 2008 tps48 Posted Yesterday, 09:04 PM Turbo, something else I have been watching is the relative price for a barrel of oil. Everyone freaks out when oil hits $100-110 a barrel, thats dollars. The price per barrel in Euros has stayed very constant. A lot of the rise is more due to a weak dollar than to any crises in oil land. A stronger dollar will bring the price down in dollars. The price of oil is directly related to the value of the dollar because oil is traded in US dollars worldwide. The US since going off the gold standard has basically become an oil backed currency. This is one reason other countries “have” to hold US dollars. The Iranian Oil Bourse is the next step in this process that may eventually succeed in taking down the US. This includes all of us no matter what your political stripes. The countries that supply our NEED for oil, just like drug dealers, could care less about us, their customers. We have had policies for years that has all but prohibited new drilling and has completely stopped any new refining capacity in the US. We are therefore dependent on the people who hate us. The problem is as the demand in the world rises they no longer need us to use their oil. There are plenty of others out there that are willing to buy it, and pay a premium. This has resulted IN PART in the price we now pay at the pump! Here are some interesting reads Notice the date Energy Bulletin Current status (see time line) Wikipedia timeline Relative to dollar Dollar Link to comment Share on other sites More sharing options...
Josh42 Posted March 13, 2008 Report Share Posted March 13, 2008 here's a graph i found about austin gas price averages over the past 6 years and it also has crude oil price per barrel. The lowest point on this chart had us paying 1.04 for a gallon of gas and 22.00 for a barrel of oil. Now I hope this chart comes out. Link to comment Share on other sites More sharing options...
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