ConocoPhillips

[Ah Pook]

First quarter profits are up 43%.

No gouging here. [Mad]

[Graves]

Paid $71.00 this AM to to fill my damn Jeep.

[mcantar18c]

Paid $71.00 this AM to to fill my damn Jeep.

Only $71? I'm jealous.
Try $160.

[rammit]

Only $71? I'm jealous.
Try $160.
sounds like were in the same boat.

[Graves]

Only $71? I'm jealous.
Try $160.

It only has a 20gal tank.

Here's a coupon...

http://madmikes.madmikesamerica.netdna-cdn.com/wp-content/uploads/2011/04/five-dollar-bill.jpg

[KevDen2005]

First quarter profits are up 43%.

No gouging here. [Mad]


Ridiculous

[opie011]

Only $71? I'm jealous.
Try $160.

Yep same here[Bang]
Soon I won't be able to actually drive to the job sites anymore and my fuel tank when full will be worth more than the damn truck I drive[Rant1]

[Mobat555]

My poor under powered civic cost $35 to fill up and will only go 350 miles on a tank...

[Coffee]

[Hoosier]

My poor under powered civic cost $35 to fill up and will only go 350 miles on a tank

I am thankful that both myself and the missus are telecommuters, and frequently leave the car in the garage 5 or 6 days in a row.

H.

[Pancho Villa]

Hey, guys?

Sorry to break it to you, but those companies don't have to provide gas to you at ANY price.

I run a business that routinely gets 50% profit on any one sale at this time (I'm sure it won't last, but enjoying it while I can,) if I could make it 75% and still make money I would.

As for the market-reasons why oil companies make big profits; oil is a big boom/bust industry, as anyone who lived in Houston the past 20-30 years can attest to. Their boom profits keep them in business during the next bust.

Second: Government regulations drive up scarcity, which drives up prices. In a semi-free market like oil, prices still tend to reach equilibrium with supply. While a variety of factors go into this, I think the two most important ones are the offshore drilling ban and the continued inability to oil companies to expand to (relatively) easy-to-access points inside the US. The population of humans who consume oil is expanding quite quickly, leaving us with three basic options:

1. Aggressive expansion
2. Higher prices
3. Shortages

I like 1, but apparently the hippies who run the govt (both GOP and Dem) disagree, so we're faced with 2 or 3. I'll take 2 over 3, as the OPTION to gas up my truck (did I mention my business involves the use of my truck?) is something I'd like to have.

Anyway, cry gouging all you want, the alternative is shortages, which is far less preferable.

[Mtn.man]

NO shortage at this time, gas usuage is down 15% or more across the US.

[Pancho Villa]

NO shortage at this time, gas usuage is down 15% or more across the US.


Gee I wonder if that has anything to do with rising prices. [ROFL1]

[Mtn.man]

Hey they gotta keep those profits UP some how, the management needs it's
Bonus's.

[Elhuero]

cost me $30 to fill up my suzuki, filling up on 1/4 of a tank.

[ChunkyMonkey]

Gee I wonder if that has anything to do with rising prices. [ROFL1]

yet the cost still goes up. Oil is one of the few market that the supply and demand is not the strongest factor in the market price imho. Oil trading is like forex- too many fly by night speculators.

[TrapperJohn]

Hey, guys?

Sorry to break it to you, but those companies don't have to provide gas to you at ANY price.

I run a business that routinely gets 50% profit on any one sale at this time (I'm sure it won't last, but enjoying it while I can,) if I could make it 75% and still make money I would.

As for the market-reasons why oil companies make big profits; oil is a big boom/bust industry, as anyone who lived in Houston the past 20-30 years can attest to. Their boom profits keep them in business during the next bust.

Second: Government regulations drive up scarcity, which drives up prices. In a semi-free market like oil, prices still tend to reach equilibrium with supply. While a variety of factors go into this, I think the two most important ones are the offshore drilling ban and the continued inability to oil companies to expand to (relatively) easy-to-access points inside the US. The population of humans who consume oil is expanding quite quickly, leaving us with three basic options:

1. Aggressive expansion
2. Higher prices
3. Shortages

I like 1, but apparently the hippies who run the govt (both GOP and Dem) disagree, so we're faced with 2 or 3. I'll take 2 over 3, as the OPTION to gas up my truck (did I mention my business involves the use of my truck?) is something I'd like to have.

Anyway, cry gouging all you want, the alternative is shortages, which is far less preferable.

You are missing the fact that the US Govt does require BS chemicals to be put into fuel for so called environmental reasons. Many years ago a very well known chemist did a study and found that they don't do anything except create more pollution. I know this because my brother in-law who is chemist did the study with him. It was ignored by the media and govt. officials

So basically we are paying extra to put more toxins into the air.

The other thing is Canada does have a pipeline run almost to the US boarder but Obama told them to piss-off because we don't need it.

[cebeu]

First quarter profits are up 43%.

No gouging here. [Mad]

Good, particpate in the market broadly as a long-term investor and reap the benefits of corporate success, via large companies and small (I'll pass on the precious metals under the mattress mind-set).

By the way, corporate profits reported against Q1, what does that have to do with recent events of the past 4-6 weeks that are driving current fuel costs to the consumer?

I get the bitch, gas is fucking expensive, but the old worn-out "complain about big oil" is a false target.

[Bailey Guns]

Well, I'm not gonna jump on the "oil companies are price gouging bandwagon". Most of the big companies net .02 to .03 cents per gallon. I wouldn't call that gouging...especially when these companies put the money they do into actually bringing fuel to market.

No...I lay the blame squarely on various levels of government. When you consider California charges .66 cents tax per gallon, my question is, who's really gouging?

[soco11]

First quarter profits are up 43%.

No gouging here. [Mad]

So are we against private enterprise and people making a profit...and for more government intervention of the free market and more nanny-state regulations? Do we really want the feds to intervene even more than they already do and specify how much profit anyone can make? I guess I am confused. How much would you pay for freedom?

[Pancho Villa]

You are missing the fact that the US Govt does require BS chemicals to be put into fuel for so called environmental reasons. Many years ago a very well known chemist did a study and found that they don't do anything except create more pollution. I know this because my brother in-law who is chemist did the study with him. It was ignored by the media and govt. officials

So basically we are paying extra to put more toxins into the air.

The other thing is Canada does have a pipeline run almost to the US boarder but Obama told them to piss-off because we don't need it.

Oh, I didn't mmean to imply that the price of a gallon of gas isn't artificially inflated.

You can start with about 40 cents of it being a straight up tax on every gallon of gas, instated by the state of colorado. Go figure.

But yeah, a ton of reasons why gas prices are higher than they'd be in a completely free market, jjust isn't the fault of oil execs.

[DFBrews]

Would the profits be as large if the cost of a barrel was say 50 bucks. Hell no they have contracts for x barrels and if the oil is worth 100 bucks a barrel than they make X selling it on the market if it is worth 200 it is worth 2X. Production costs stay the same (besides fuel cost haha) If you are dealing in commodities you sell them for what people will pay look at wheat corn cattle etc. All the prices are up are we yelling about gouging from the farmers? My parents raise potatoes and wheat cattle etc. The higher prices right now are bieng squirreled away for when the prices tank. Just my thoughts. My career is directly related to fuel costs to an extent. More trucking companies will put off doing major repairs when fuel prices are super high and our dealership will slow to a crawl. I live there when we are busy and rely on the savings if it slows way down.

[DFBrews]

And that was from a purely simplistic stand point I know there is a LOT more that goes into fuel prices

[<MADDOG>]

Oil companies do not directly set oil prices, the commodities market does...And a weak US dollar makes it even worse...