Exxon record profits again

[slowrev]

I had a Tenneco 24" high pressure gas line blow out a week or so ago about 1 mile from my house. Quite a thrill which I hope does not repeat itself.
It runs fro TX to the NE as I understand.

 

[slowrev]

I am as ready for the hurricane gas thing as I can get. I have 2 months worth of Gas with stabil stored up.

Ben

 

[Doc_Bob]

The fellow going to work can Buy an electric car/truck and plug it into his solar aray........ if he chooses to.Untill I do I don't mind paying $4 a gallon even $5.

As long as I can get fuel, I will buy it. Price? matters, but not nearly as much as can I get it.
Bob

 

[chanceu]

I'm not an insider, but looking from the outside, the thing that annoys me about these record profits from oil companies is it seems that a company that made almost $1000/second for 3 months should be able to keep a pipe maintained.

To me, this falls in line with drug companies. If the oil companies really put as much time and money in to alternative fuels as they say and the drug companies put as much money in to cures for cancer and heart disease as they do fixes for ED, we'd have cars that run on water and no one would ever die from cancer or heart disease.

Yes, that's probably a little extreme, but unless there's motivation for change, it will never happen. Unfortunately, there is no motivation for oil companies to change as we're not going to demand anything because our gas is still fairly cheap compared to most of the rest of the world. The only thing that'll fix our dependency on oil is for prices to keep going up. Then WE will start demanding change.

Yes, there is a plan to have cars get better mileage over the next 10 or 20 years, but all that means is they'll print new stickers. I don't know about the rest of you, but I've never come close to seeing that 16 MPH city/20 MPH highway the sticker on my truck promised.

They like to call themselves "energy" companies, but name one significant product Exxon or BP sells that is not petroleum based? When was the last time you saw a BP ethonol station or an Exxon hydrogen station?

 

[Doc_Bob]

I tell anyone who complains about energy prices to just stop using it. Or go into the business themselves. If it is "easy", then do it yourself.

My comments are always met with groans. Everyone believes that whatever anyone charges (drugs, oil, gas, cement, electricity, etc.) is always too much $$$, but what they charge for their work is never too much money.

I tell folks to get a mirror when they are being indignant about prices and saying they are "unfair", "too much".

Find a solution that does not involve complaining. Anyone can complain. Winners find solutions. Complainers are not winners.
Bob

 

[monkeymonk]

Went to town today..first in a while...........$3.55 a gallon for diesel..not complaining one bit just thought id let ya know the price round town..

Oh..Locally its $4.60 a gallon for gas! theres only two in pumps in 40 miles either way...I Love my jerry cans.

They need "emergency"workers for the pipeline "willing to train" Wonder how much they pay?

 

[sneaky_pete]

They need "emergency"workers for the pipeline "willing to train" Wonder how much they pay?

When oil companies are making a profit, the news media and public in general forget the bad times that always proceed it. In the ten years plus starting in about 1984, half a million people were laid off and many oil companies went under or were sold for pennies on the dollar. Because of that, there is now a huge shortage of skilled workers and technical professionals, and wages are going up to try and fill these jobs. Just in engineers and geologists, a 50% shortfall in new graduates coming out of school is predicted for the next 10 years.

The pipeline jobs in Alaska will pay well. In 1979, I went up to work in the oil patch on the North Slope of Alaska, and my base pay was doubled from doing the same thing in the lower 48, plus bonuses for finishing the season and all living expenses paid. It will have to be something similar at least now to get people to go up there - not everyone wants to work long hours in that kind of environment but as always in this country, there is economic incentive for those who will.

 

[Casey1]

I have noticed that after the recent oil company mergers next thing we know gas goes from a dollar something to three dollars something in little of no time. Record profits for all.

Just a few major oil companies now, easy to cooperate. Brand y charges three dollars then brand x could charge two but x and y realize it is mutually beneficial to stick together and they can both make record profits. Yippee! Sort of like an oil corporation union.

Since we are dependent on oil we are held hostage by the extreme price hike. Sure we could cut back but it takes time. About the time we do and begin to seriously consider alternatives then guess what, the prices miraculously comes down making it too inconvenient and not worthwhile to pursue the alternative.

Those of you who believe this is simply supply and demand (even though there is no shortage of supply) economics at work and that three plus dollars a gallon is fair then you deserve what you get.

 

[rickmacheske]

Casey, How much does the oil company make per gallon of gas? Take a look and you'll see that the problem is the cost of oil because our dependance on foreign supply. OPEC controls the cost of oil....

 

[midlf]

rickmacheske - if the oil companies price is based on crude price and they are making the same for each gallon then why record profits?