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bobd1953
Sep 8, 2005, 12:02 AM
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Most oil companies are looking at profits of 55-per-cent for the year. A rise of almost $.50 cents a gallon or more since Katrina has help raise profits considerably.
WTF??
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airborne_r6
Sep 8, 2005, 1:56 AM
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Where did you find that at? I would like to read more.
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overlord
Sep 8, 2005, 5:22 AM
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and you only figured that out now??
as a matter of fact, all large companies are the scum of the earth.
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thorne
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Sep 8, 2005, 12:48 PM
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In reply to: Most oil companies are looking at profits of 55-per-cent for the year.
55 percent of what?
In reply to: A rise of almost $.50 cents a gallon or more since Katrina has help raise profits considerably. WTF??
It's called Economics 101. You know.... Supply and Demand.
BTW Gas prices in Charlotte have dropped 25 cents in the last week.
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jammer
Sep 8, 2005, 1:13 PM
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Strange how the price of a barrel has dropped, but the price at the pump did not drop in New England. Not only that, but because of the price hike, those selling cord wood decided to jump in on the fun and start selling green cord wood for $175 and cord! Dry for $225!!! WTF??
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oldrnotboldr
Sep 8, 2005, 5:12 PM
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Yep, the price of gas dropped just over 30 cents a gallon in Northern Michigan just after Labor Day. Less people demanding less gas.
Yep, Econ 101, supply and demand, Milton Friedman, Adam Smith, profit maximization, etc, etc. With the demand for more and more oil, companies search out more and more supply of oil. Demand for oil goes far beyond our transportation and heating systems. People need oil to produce food, plastics, electricity, metals, just about everything people use today.
It's terrible they are drilling 1000's of new wells in Wyoming, and want to drill for oil under the great lakes and wilderness protected areas. I think everyone would agree that oil is a finite resource that is getting harder and harder to find and keep up with demand. As the world "shrinks" and a global economy and system develops and peaks, it is getting pretty hard to say "don't drill in my back yard, go some place else". Unfortunately those someplace Else's are getting fewer and fewer.
I don't like big business much more than anyone else, I don't want anymore wells put in or anymore wilderness destroyed either. Unfortunately a time of hard choices and even harder choices are coming. The world as a whole needs to seek and develop alternative energy sources- nuclear, solar, wind, hydro? I don't know which, perhaps a combination of all, but I do know the world's oil supply won't last.
Each alternative has its own problems and challenges.
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