Obama and BP masking severity of oil spill?

I get it. The price went up so people purchased more oil. Sorry I do not know what I was thinking.

As you can see the logic is silly.

Fact is the people were led to believe that they were being bilked by "Big Oil" a bunch of greedy bastards conspiring to plot against the people.

I'm certain the general public purchased much less gas. If REAL NET profits went up WITHOUT SPINNING THE NUMBERS then it would probably be do to mobilization of the war machine. But "Big Oil" was not selling percentage wise gas for the same increase in cost indicating a thinner profit margin.

All the news propaganda was spinning the facts like a top.

 

No shit I had to laugh at that idea. I mean these guys are engineers. This would be like the same ideas you might hear around the break-room at Wal-Mart among the door greeters. :biggrin:

 

The prices might have went up where you live but it's not necessarily the case everywhere. There are massive emerging markets all around the globe. China is steadily increasing its consumption, same goes with other underdeveloped countries. As third world countries are given opportunities through humanitarian efforts or foreign investments, they enter the world of consumerism. You have to think globally when discussing multi-national corporations.

Another factor to consider is the elasticity of the market. Things like cigarettes, coffee, gasoline, and water are considered inelastic. Inelastic means that the consumers are willing to buy the product even if the price goes up. How many times have you grumbled at the price of gasoline while filling up your truck? You still fill it up and you still take your truck to work instead of riding on a bicycle. Because the price of a commodity goes up doesn't necessarily mean that the consumption will lower.

I will repeat another point of mine that you seem to forget every time you open your mouth. Exxon themselves have posted the financial information! There is no number spinning coming from Exxon. Otherwise it would be know as accounting fraud.

Maybe a link from Fox News will earn your trust.

http://www.foxnews.com/wires/2008Feb01/0,4670,EarnsExxonMobil,00.html

They posted record breaking profits in 2008 and 2009.

I don't understand why you keep insisting that the oil companies don't make any money. They are the most profitable businesses in the world. They will make money as long as people will drive vehicles with internal combustion engines.

Want to know what I think? I think that you fucked up and said something dumb. But your pride kept you from admitting the mistake and instead you kept backing yourself further into a corner.

 

Nope wrong.

The gas prices have been kept artificially low actually in America. The price of gasoline has not kept pace with the price of inflation.

Nothing wrong with what I said.

It breaks down to simple math that you try to avoid running for cover of a news story.

raw product price quadrupled.

finished product price doubled.

Net sales sky rocketed. Total profit went through the stratosphere. The government in order to run two wars has to purchase massive amounts of fuel under Bush as well as Obama.

But that does not change the laws of mathematics.

Raw product went up due to OPEC. The people who made a killing were Iran, Saudi Arabia, Venezuela. The people allowed to drill for oil and place it on the market had 90 percent of the power to control the price per barrel not Mobile, Texaco, Exxon, Citgo or the rest of "Big Oil"

The spin was that "Big Oil" was bilking the public. Something you do not want to argue. This is getting old. Same circle it's like watching a beagle chase its tail vaguely amusing at first.

 

This is getting tiresome. You continually refuse to admit that Exxon themselves posted the quarterly profits on their shareholders' reports. I provided the link to an article featured on Fox News, a source that a conservative should trust. I provided simple mathematics that demonstrated that a rising cost isn't always synonymous with loss. I brought the concept of macroeconomics to explain the fact that because you pay more, doesn't mean everyone does.

I never claimed that "Big Oil" was ripping anyone off. As a matter of fact, I welcome the idea that some industries remain unscathed during an economic meltdown, therefore providing employment at home and abroad. It's perfectly fine if these companies make money, they earned it.

What I don't like is you continually insisting that they don't make any money and that the books are "cooked" (whatever the fuck that means). You bring nothing substantial to back your claims but you shoot down everything I bring to the table. Everything you say you pull right out of your ass.

Wrap yourself in the warm blanket of preconceived ideas. Narrow-mindedness is always much easier than learning something new. Isn't it?

 

LOL Come on now.

I concede the point that they made profits and that their profits were good. I'm only pointing out the discrepancy in the media spin.

The oil company's margin of profit decreased.

Raw materials price increased fourfold.

Finished product doubled.

You have people like Kathuckhan or who ever he is using propaganda to make like big oil bilked us all and it was a big scheme dreamed up by the Bush administration. People like Cheesedawg and 200 million voters fall for this.

I'm sure their revenues went straight through the roof. And they lost their ass on the general public. The only way net profits went up is by selling fuel to the military. And if that is the case then all the better. Big and healthy oil means a robust economy that we all stand to gain from.

 

Oil companies are always the subject of heated debates when they spring a leak somewhere. Ecologists don't like 'em and everyone else is jealous of their money. I don't mind 'em. I need gasoline to go to work and I don't think that Greenpeace will give me horses.

 

I think Abby is right about the profits Joe. Using his lemonade stand model.... if your price to make lemonade increased 4 fold.... 40 cents to make it instead of 10 cents. If you double the price.... you get a dollar a cup instead of 50 cents. Therefore, after 20 cups are sold....

20(gross profit) -8 (20 cups times .4) = 12 dollars profit(instead of 8 dollars)

That's a 50% gain in profit. See? The oil companies can still rip us off.

 

Under that formula the cost of raw materials was negligible. This is not the case in oil. Also there is the other factor that what price the pumps sold at was not the price the oil companies sold as a finished product of refined gasoline.

Why not just sell 2 million cups out of that batch for the fourfold cost of 40 cent?

 

There is no definite way of knowing how much exactly it costs to either extract or purchase unrefined oil, unless you are an industry insider. We over-simplify it a great deal but in reality it's a thousand times more complex than that.

When Joe pretends to know these things better than everyone else it tends to get annoying.

Just let Mr. Know-It-All play by himself.

 

16:3

The pointless arguments drone on, meanwhile.....

Jooey and A-ball need to find a room, slather each other in thick, greasy oil and wrestle, man-o'-man until they reach a mutually gratifying conclusion to their raging beef.

 

Hahaha! Something like Hakan, the oil wrestler from Super Street Fighter IV.

 

Is this what its come to? A gay forum, really?
So all you fags are secretly attracted to my alpha male wit.

Interesting I should have you all go decorating Dwain's parents house. In queer eye for the straight guy fashion. Prolly never see you again.

 

Try and Google something like "amount hexane per gallon of crude". I'm not gonna bother from my phone but I bet you find a general rule of thumb.

 

I think it has more to do with your fleshy, womanly butt and quivering man titties.

 

Nah it's just that I heard you turn tricks for really cheap.

 

God damn bunch of butt pirates!

What Fuels Are Made From Crude Oil?

So One barrel of crude oil, when refined, produces about 19 gallons of finished motor gasoline, and 10 gallons of diesel

Not like your lemonade analogy where your raw materials lemon juice makes multiple times more lemonade. Just the opposite Crude oil makes a fraction of gasoline.

Crude = 30.00 a barrel and gas was somewhere around just less than 2.00 and it went up above 120.00 and gas went to what at its max 4.00 average. Forget about the stupid states like California, NewYork, and such theirs was artificially high due to taxation not "Big Oil".

Oh and isn't it interesting to see that diesel is TWICE as sensitive to crude prices then gasoline. Isn't that right Cheese?

 

Still trying to tell me that oil companies don't make any money?

Exxon themselves posted the fucking quarterly profits!

If you don't like it just write them a fucking letter and argue with their accountants. You must have a degree in financial analysis and accounting, right? You know better than the Exxon CEO right? You know better than their accountants right? Write them a letter and don't forget to include the cute graphics you found.

 

Holy shit man you are one obtuse MF!

Crude oil is 40% Gasoline that is without the extraction delivery and refining cost.

Crude oil increases in cost 400%

Gasoline increased in cost 100%

I do not give a flying ass fuck who said what. These are indisputable facts.

Cost of raw materials increased four times while at the same time cost for product only doubled.

If you want cheaper oil then its simple allow domestic oil companies freedom to extract their own crude. OPEC controls the oil price and they are the enemy dumbass. Take that control away and its a whole different picture. The reason people like Cheese were run out of business were all those senators and congressmen with a "D" after their name that choose to regulate the oil companies. Except in the case of BP if the right pockets are greased with cold hard cash. Then safety awards are given and a green light to do WTF you want.

 

Diesel is the cheapest stuff there is to make.... considering that its 40 octane. Gasoline requires more refining therefore the cost should be higher.

That is not the case nowadays.

Hasn't been the case for about 7 years.

The demand for diesel fuel has gone up. It's not that a barrel of crude oil is only 10 diesel. It's that only 10 percent of the total barrels are refined into diesel fuel. Ink and crayons and other shit is made from the by-products of that crude oil/diesel fuel conversion.

In other words, nothing is wasted. The oil companies would like us to believe that there is more shipping going on than 8 years ago. In fact the opposite is true. Many truckers are out of work or changing careers at the moment. 8 years ago the government was actually PAYING people to learn to drive trucks. Actually... they still do. But there isn't enough work for us.

The thing that drove diesel price up was the fact they made more gasoline with the barrels of crude. It had nothing to do with D's or R's. They both sat by and did nothing. I watched them on C-Span back in 2008 talking about how "Hard things would be for the trucking industry". And yet they did nothing.

Actually they did do something this year. New laws in effect July 1st. They decided to increase the fines and points on our license for violations. And if we get 3 points on our license now.... we get a 90 day suspension. At 5 points we lose our license for a year. At 6 points we lose it for 3 years. At 8 points, we lose it permanently. Pretty harsh considering one failed brake inspection and an overweight ticket puts you out of work for 3 months.

WHATS THAT YOU SAY? Don't break the law and you'll be fine? Bullshit my friends. If the DOT officers don't find violations when they do an inspection, they themselves get in trouble. So they will find any bullshit excuse they can to write us up a violation. They don't care if we were being the safest we could be. There is no escape.