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Anybody think oil company profits are going to be hurt from Rita :nonod:
Rita and Big Oil
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Bet those profits will be records again this quarter :crazy:
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What the heck Bikerdude... what's up with your sig? :lol:Bikerdude said:
Jetski you're right... I was talking to a guy yesterday about it... I get asked about it all the time because of my job. Anyway, the guy said the only way to beat them is to buy stock in the big oil companies...that way at least you make some money back on the scam they're running at the pump!
Great idea! :dthumb:
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Not if you raise prices enough to cover lost productionbumblebee said:
Normal price one gallon gas $2.50 . News reports say expect to pay $5 gallon for gas :yikes: 19% of American gas produced in Rita's path, you just increased your price almost double :crazy:
American Oil comapanies going to screw Americans any chance they get
jetskifast said:Not if you raise prices enough to cover lost production
Normal price one gallon gas $2.50 . News reports say expect to pay $5 gallon for gas :yikes: 19% of American gas produced in Rita's path, you just increased your price almost double :crazy:
American Oil comapanies going to screw Americans any chance they get
Fact of life, Like time, production lost is never regained...No matter what the price increases are...barrels of production lost to shutdowns caused by Katrina and Rita, are gone, and profits are affected. no matter what volume post hurricane production is...it would have been more without the shutdowns...profits are affected...That California Public School Education is showing again...
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Explain how if you sell 100 gallons of gas at $2.50 gallon. Then you lose half your production, but raise price 100% you donot make HUGE profits?bumblebee said:
jetskifast said:
Not what I said...I said profits will be affected...For example...
Let's say you have a well producing 10 barrels a day at suppressed flow, for 310 barrels a month.
Now, some knucklehead in his vette loses control, runs off the road and knocks the cricket pump over. It takes you 2 days to replace the cricket pump and restart the well.
Now, you increase the flow to 15 barrels a day for the rest of the month for a total of 350 barrels for the month.
Your profits have been affected by;
replacement cost of pump and set up costs
2 days of production lost.
cost to increase well flow.
Now you may have produced more barrels for the month than last month, but your profits have been affected and are less then what they would have been had the clown in the red vette not shut your well down.
Simple law of economics, anything that disrupts production or distribution, affects profits.
Sure they are. I heard that many Senators from around the country are now recommending investigations about "price gouging" against the various places that sell gas after these storms. They say that the prices should NOT have gone up like it did. This has nothing to do with the oil companies. It has to do with the businesses selling the gas.snadamo said:
:iagree: This morning i went out for gas and one pump station was operating on a cash only basis, waaaaaaaaaay before we got anything resembling TS weather. I dont think OPEC or Bush or Exxon told them to do that. They see the potential for high profit and squeeze it all out. nobody else was doing that but this station was the only one on a highway so there wasnt any competition for a few miles. I went the few miles to a decent station.Bikerdude said:
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