buying oil

[4play]

Thinking about dropping 10g's in oil and pulling out at about 150 per barrel, good idea?

[SID210SA]

It sucks....conlficts causing oil prices to rise.....I heard this morning it will be $5.00 a gal for gas by summer time....so if your gonna buy it....do it now!!

[Dragcity]

I'm going to buy a cricket and start drilling for my own.

[4play]

I wonder if the economy will collapse when oil reaches 200 par barrel.

[Dragcity]

Yup. . . . . .

[Dr Caleb]

Thinking about dropping 10g's in oil and pulling out at about 150 per barrel, good idea?

No. Wait till Libya is settled down, then buy stocks in oil companies. They will go much farther.

[4play]

If they settle down, but if they do settle down and open the oil taps price may drop to 75 per barrel, but probably not likely

[LANDY]

We need to drill HERE!

[Vostok]

we need to drill here!

+1 .......

[MOTOWN]

nowadays if the wind blows to hard some how it effects oil prices!

god forbid some prince looses his turban! oil will triple!

[05crownsport]

We need to drill HERE!

Its a no brainer..... too many eco weinies here to allow it, even though they are the minority .

[omarauder]

All the Oil Company executrons are sitting in their Wall Street ivory towers wringing their hands and saying "And loving it! "

[tbone]

Actually, their profits on a gallon of gas go down as the cost of a barrel goes up.
Oil company profit percentages are in the single digits. Not really that unreasonable.

[Mr. Man]

Plenty of oil to go around even with the troubles in the middle east. It's the aholes on Wall St. who are manipulating the price based on their own genius to make money.

[Dragcity]

Plenty of oil to go around even with the troubles in the middle east. It's the aholes on Wall St. who are manipulating the price based on their own genius to make money.


You sir, are correct. Oil should not be traded on the open market. it should not be an investment tool.

[tbone]

Plenty of oil to go around even with the troubles in the middle east. It's the aholes on Wall St. who are manipulating the price based on their own genius to make money.

Everyone on Wall St. is not an 'ahole'. If it was so easy to manipulate the price, why did a barrel go all the way down to about $33 last year? Why didn't they 'manipulate' the price way up years ago? It might help to understand how speculation works. Here is an easy explanation.

http://www.creators.com/opinion/john-stossel/bless-the-speculator.html

[Mr. Man]

I never said everybody on Wall St. I said the aholes on Wall St. Oil dropped to $30 something a barrel quickly before they could organise and stop the downfall. You'll note once they did oil quickly rebounded to the 70 dollar range.
It takes months for oil to travel from the ground to your tank. We shouldn't see marked increases in pump prices for months after some flare up. You also note when the news questions the price of oil the standard manipulation answer is "Refineries are changing over to X type of gas or the refineries are off line or the some other BS excuse. If the tensions in the middle east have a direct impact on the price at the pump then how about raising prices when that oil is actually refined. The stuff they are refining now is oil that was pumped out of the ground in SEPT/Oct of 2010 and there wasn't a conflict in Libya or Egypt going on then. We are being screwed at the pump, at least Wall St. could be honest about. JM:twocents:

[Motorhead350]

Plenty of oil to go around even with the troubles in the middle east. It's the aholes on Wall St. who are manipulating the price based on their own genius to make money.

This is the first post of your's I agree on. Well said.

[Mr. Man]

This is the first post of your's I agree on. Well said.
We agreed on something a while back but I can remember what:)

[Motorhead350]

We agreed on something a while back but I can remember what:)

A Marauder. ;)

[rayjay]

Lets go burn Wall Street. :flamer:

[DOOM]

Plenty of oil to go around even with the troubles in the middle east. It's the aholes on Wall St. who are manipulating the price based on their own genius to make money.

:agree: ....

[JOEMERC]

They got us by our (bags) they know we will still drive our huge cars ans suv"s no matter what the price goes to,i guess there pretty smart after all.....happy motoring.

[tbone]

I never said everybody on Wall St. I said the aholes on Wall St. Oil dropped to $30 something a barrel quickly before they could organise and stop the downfall. You'll note once they did oil quickly rebounded to the 70 dollar range.
It takes months for oil to travel from the ground to your tank. We shouldn't see marked increases in pump prices for months after some flare up. You also note when the news questions the price of oil the standard manipulation answer is "Refineries are changing over to X type of gas or the refineries are off line or the some other BS excuse. If the tensions in the middle east have a direct impact on the price at the pump then how about raising prices when that oil is actually refined. The stuff they are refining now is oil that was pumped out of the ground in SEPT/Oct of 2010 and there wasn't a conflict in Libya or Egypt going on then. We are being screwed at the pump, at least Wall St. could be honest about. JM:twocents:

Maybe "a few aholes on Wall St." would be a better way to put it.:rolleyes:

The gas they sell today must be replaced in a few months by oil they buy today, so it all works out in the wash. That's just the way it works.

[de minimus]

Oil company profit percentages are in the single digits. Not really that unreasonable.

Where do you get this little tidbit of information?

[Big House]

Everyone on Wall St. is not an 'ahole'. If it was so easy to manipulate the price, why did a barrel go all the way down to about $33 last year? Why didn't they 'manipulate' the price way up years ago? It might help to understand how speculation works. Here is an easy explanation.

http://www.creators.com/opinion/john-stossel/bless-the-speculator.html

Not to dump on your opinion, but if that were the case gas would have been down but has been well north of 3 dollars a gallon. Even in the face of oil prices falling, gas prices stayed at the raised levels. That was not due to the retailers but the big oil companies still squeezing the change out of us. Wall street hurting...nope...not in my view.

[J D]

We need to drill HERE!

Yeah, and we'll have nothing but ruined land to show for it when they're tapped out in the future. And we have those oil sands with Canada to sort through.

If anything, we should drink everyone else's oil-milkshake first, then we'll be sitting on the last reserves with a military that can defend it. :flag:

Oh and harvesting the so called wonder fuel Natural Gas is destroying our greatest resource! Our fresh water. Too many Americans are living like a Third World country after having their water source permanently poisoned by BigOil.

[Mr. Man]

Yeah, and we'll have nothing but ruined land to show for it when they're tapped out in the future. And we have those oil sands with Canada to sort through.

If anything, we should drink everyone else's oil-milkshake first, then we'll be sitting on the last reserves with a military that can defend it. :flag:

Oh and harvesting the so called wonder fuel Natural Gas is destroying our greatest resource! Our fresh water. Too many Americans are living like a Third World country after having their water source permanently poisoned by BigOil.
I see you point here but disagree. My pocket is hurting now. If we wait till the only oil left is in America I will be dead for 200 years.

[Vostok]

I see you point here but disagree. My pocket is hurting now. If we wait till the only oil left is in America I will be dead for 200 years.

I agree with this. I don't think we should be left under the assumption that crude oil is the end all be all of energy sources for the rest of time. We should not be planning on still using oil as our main source of energy a HUNDRED or so years from now. (I'll be dead, you'll be dead, your children and grandchildren will all be dead at this point in time) I'd like to see some drilling here in the states and using all the money we save and generate by doing so to create alternative methods for the future. We already have the technology but its just expensive right now so why not focus on ways to make the technology we already have a more feasible option?

I've seen an array of opinions on how much oil we have left but in general they are saying 25 on the low side, 40 on the high side (correct me if i'm wrong). If we cant figure out some alternative within at least 40 years at the rate technology is going...maybe we don't deserve to have the conveniences of modern energy and we should all head back to the stone age until we can find a better way of thinking that does not involve and I quote "Global military expenditure stands at over $1.5 trillion in annual expenditure" among many other things that are slowing the progression of our world as a whole.

[Fosters]

We need to drill HERE!

But, but.... the polar bears! :o

[tbone]

Not to dump on your opinion, but if that were the case gas would have been down but has been well north of 3 dollars a gallon. Even in the face of oil prices falling, gas prices stayed at the raised levels. That was not due to the retailers but the big oil companies still squeezing the change out of us. Wall street hurting...nope...not in my view.

Gas was all the way down to @ $1.70 per gallon a while back when oil was @ $33 per barrel. At $100/ barrell gas should be $5.40 per gallon if it is a percentage deal but it doesn't work that way. That's why they make less money when the price per barrel goes up.

For a long time years ago oil was like $10/barrel and they charged a buck a gallon. Those were good times for the oil companies.

[Pat]

I sunk 48.74 into oil, filter and air filter on wife's GM. I'll pull the plug when it reaches $100 per change.

[tbone]

Where do you get this little tidbit of information?


http://ycharts.com/companies/BP/profit_margin

BP's profit percentages for the last 10 years.
Took me all of 30 seconds to find it.

If my business only made profits in the single digits percent wise I would hang it up.

[tbone]

http://ycharts.com/companies/XOM

Here's Exxons'.

Any questions?

[ChiTownMaraud3r]

Do you guys realize oil has taken over civilization, and can not be replaced for other "cleaner" "smarter" energy sources?

Everything produced has a cost of oil involved with it, from oil used to bottle water in plastic bottles, to producing rubber tires, to harvesting our food, making clothes, even paving our roads. This planet is screwed once oil in general nears depletion..

[Vostok]

http://ycharts.com/companies/BP/profit_margin

BP's profit percentages for the last 10 years.
Took me all of 30 seconds to find it.

If my business only made profits in the single digits percent wise I would hang it up.


You'd hang up your company if your profits were:

2010

$29,529,300,000 per year??? (7.71% of $383,000,000,000)

Twenty nine billion, five hundred twenty nine million, three hundred thousand (it looks and sounds cooler this way) to take home.

:confused::confused::confused: :confused::confused::confused:

Where does it all go?

They had a bad year too. I don't even want to talk about the $40,000,000,000 profit in 2007. I don't know about you but i'd be happy to have like 0.01% of that in several lifetimes.

[tbone]

----------------------------------

[Motorhead350]

Either way this sucks. I'm not getting a different car.

[tbone]

You'd hang up your company if your profits were:

2010

$29,529,300,000 per year??? (7.71% of $383,000,000,000)

Twenty nine billion, five hundred twenty nine million, three hundred thousand (it looks and sounds cooler this way) to take home.

:confused::confused::confused: :confused::confused::confused:

Where does it all go?

The US GUV so they can piss it all away...........

They had a bad year too. I don't even want to talk about the $40,000,000,000 profit in 2007. I don't know about you but i'd be happy to have like 0.01% of that in several lifetimes.

Are profits bad?

[Motorhead350]

Anarchy! Anarchy!

[Vostok]

Are profits bad?

That was kind of directed at your "hang it up" comment.

My interpretation of that was you meaning 7.71% of billions of dollars is a low profit margin and that they are doing the best they can?..

Maybe i'm way off here on what you meant, just correct me if i'm failing :)

And yes...the pissing away part is what I was getting at :(

Make it stop. I need a blower :cool:

[J.bo]

IF it wasn't the up-rise of the protesting people. The excuse would have been the extreme cold winter that just past. So they was going to find something to blame the increase prices on.

[PonyUP]

That was kind of directed at your "hang it up" comment.

My interpretation of that was you meaning 7.71% of billions of dollars is a low profit margin and that they are doing the best they can?..

Maybe i'm way off here on what you meant, just correct me if i'm failing :)

And yes...the pissing away part is what I was getting at :(

Make it stop. I need a blower :cool:

Don't be so hung up on dollars. I am no fan of the oil companies, but T bone is right, in all business circles a 7% profit margin is largely seen as a failure. Most business models will show an expectation of 15 to 20% GOP percentage. But if you really want to know about the oil company profits, a better and more true number to look at is their EBITDA

[Big House]

When was this...I missed that. Gas for me has been above $2 for the last 4-5 years.


Gas was all the way down to @ $1.70 per gallon a while back when oil was @ $33 per barrel. At $100/ barrell gas should be $5.40 per gallon if it is a percentage deal but it doesn't work that way. That's why they make less money when the price per barrel goes up.

For a long time years ago oil was like $10/barrel and they charged a buck a gallon. Those were good times for the oil companies.

[Bluerauder]

When was this...I missed that. Gas for me has been above $2 for the last 4-5 years.

Longer than that ... seems to me that I paid $2.65 per gallon when I went to Detroit for MV3 in August 2005. I can even remember when it was under $2 for 93 anyway.

According to this chart, Premium Unleaded broke the $2.00 barrier about 2003 >>>> http://www.randomuseless.info/gasprice/gasprice.html

Info is based on the Fort Worth, TX area for data on about 1,174 fill ups over the past 31 years.

[J.bo]

A friend of mine told me this morning that a friend of his has a son that is in Iraq and gas over there is .45 cent a gallon. If true what is that saying......

[rayjay]

But, but.... the polar bears! :o

They eat baby seals... :bigcry:

[J D]

I see you point here but disagree. My pocket is hurting now. If we wait till the only oil left is in America I will be dead for 200 years.

Btw, I'm not saying stop all oil production here, we still make some of our oil from off shore drilling, and the spattering of sites across the land. But that it is still feasible to continue to draw on outside sources for the foreseeable future. And also do you think that OPEC will just sit around twittering their thumbs as we attempt to drill our own stock in an effort to drop the price? They'll clam up the pipes and the price would stay stationary if not rise further!


A friend of mine told me this morning that a friend of his has a son that is in Iraq and gas over there is .45 cent a gallon. If true what is that saying......

Yeah, one of the Maruader owners from the UAE on the site brags about it from time to time.

[rayjay]

What if its not the finite resource we have been led to believe? After all, they do keep finding more when they look. :confused:

[tbone]

Don't be so hung up on dollars. I am no fan of the oil companies, but T bone is right, in all business circles a 7% profit margin is largely seen as a failure. Most business models will show an expectation of 15 to 20% GOP percentage.


Correct. And it's a risky business. Look what happened to BP. What if they didn't make a profit in previous years? Then the taxpayer would pay the entire cleanup bill and BP would just declare bankruptcy.

The oil companies provide a valuable service for us. If you want to demonize someone, look at the politicians that screw us on every front, especially not letting us drill HERE!:mad2:

[Bluerauder]

Don't be so hung up on dollars. I am no fan of the oil companies, but T bone is right, in all business circles a 7% profit margin is largely seen as a failure. Most business models will show an expectation of 15 to 20% GOP percentage. But if you really want to know about the oil company profits, a better and more true number to look at is their EBITDA

Profit margins varies considerably based on the industry and the product. There is also a difference between Gross Profit and Net Profit (after taxes). Here are some typical margins by industry from a 2007 base:

Industry Rank Industry 2007 Profits
as % of
Revenues
1 Network and Other Communications Equipment 28.8
2 Mining, Crude-Oil Production 23.8
3 Pharmaceuticals 15.8
4 Medical Products and Equipment 15.2
5 Oil and Gas Equipment, Services 13.7
6 Commercial Banks 12.6
7 Railroads 12.4
8 Entertainment 12.4
9 Insurance: Life, Health (stock) 10.6
10 Household and Personal Products 10.2
11 Securities 10.1
12 Insurance: Property and Casualty (stock) 9.9
13 Real Estate 9.9
14 Scientific, Photographic, and Control Equipment 9.8
15 Financial Data Services 8.7
16 Food Services 7.9
17 Publishing, Printing 7.9
18 Utilities: Gas and Electric 7.9
19 Industrial and Farm Equipment 7.6
20 Electronics, Electrical Equipment 7.6
21 Hotels, Casinos, Resorts 7.3
22 Aerospace and Defense 7.2
23 Beverages 7.2
24 Chemicals 7.0
25 Internet Services and Retailing 7.0
26 Food Consumer Products 6.5
27 Telecommunications 6.4
28 Health Care: Insurance and Managed Care 6.2
29 Petroleum Refining 6.2
30 Computers, Office Equipment 6.0
31 Metals 5.5
32 Packaging, Containers 5.5
33 Home Equipment, Furnishings 5.3
34 Wholesalers: Diversified 4.3
35 Specialty Retailers 3.8
36 Information Technology Services 3.8
37 Energy 3.7
38 Airlines 3.6
39 General Merchandisers 3.5
40 Health Care: Medical Facilities 3.3
41 Pipelines 3.1
42 Engineering, Construction 2.8
43 Health Care: Pharmacy and Other Services 2.6
44 Food and Drug Stores 2.1
45 Wholesalers: Electronics and Office Equipment 1.6
46 Automotive Retailing, Services 1.1
47 Wholesalers: Health Care 1.1
48 Motor Vehicles and Parts 1.1
49 Food Production 1.0
50 Semiconductors and Other Electronic Components 0.6
51 Diversified Financials -0.9
52 Homebuilders -9.5