Why we're paying so much at the pump (hard to fathom these numbers)

[MagicMtnDan]

British Petroleum EARNS (profit not sales) $2.5 million dollars an hour 24 hours a day.
Oil giant BP announced record quarterly results today, after high oil prices pushed the company's profits up by 29% for the first three months of this year.
For the first three months of the year, the UK's biggest listed company made $5.49 BILLION. The figure, the equivalent to earnings of $2.5 MILLION an hour, comes two months after BP announced a record annual profit of $11.2 BILLION (that's $11,200,000,000) last year, a result that sparked calls for a windfall tax on energy companies.
Their profit in 2004 was $933,000,000 (nine-hundred thirty-three million) a month which is $232,000,000 (two-hundred thirty-two million) a week which equals $33,321,000 (thirty-three million) a day in PROFITS!

[looky_lou]

It is getting totally out of control. Some serious price gouging going on in my opinion. :confused:

[hoolign]

I wish my day rate went up in accordance with oil company profits! oh well stocks are doin good :D

[NorCal Gameshow]

when I saw the pres. with the crown prince of saudi... at the ranch to discuss the price at the pump., I was thinking maybe the CEO's of the price gougers...i'm mean the OIL CO. CEO's might have been more appropriate ...:idea:

[Not So Fast]

British Petroleum EARNS (profit not sales) $2.5 million dollars an hour 24 hours a day.
Oil giant BP announced record quarterly results today, after high oil prices pushed the company's profits up by 29% for the first three months of this year.
For the first three months of the year, the UK's biggest listed company made $5.49 BILLION. The figure, the equivalent to earnings of $2.5 MILLION an hour, comes two months after BP announced a record annual profit of $11.2 BILLION (that's $11,200,000,000) last year, a result that sparked calls for a windfall tax on energy companies.
Their profit in 2004 was $933,000,000 (nine-hundred thirty-three million) a month which is $232,000,000 (two-hundred thirty-two million) a week which equals $33,321,000 (thirty-three million) a day in PROFITS!
MMD; Can you tell from the number of replies or how fast this post in moving to the rear of the heap, that most folks know we are getting f---ed but what can the ordinary guy do about it? :( So we grumble a little bit and keep buying while all the time this administration smiles and allows the big oil co.'s to keep raping us. They have had profit predictions go double and triple and yet not one word of price gouging. Us sheep have no choice or recourse. Sad unless you are fortunate enough to be in the oil business! NSF

[LHC30Victory]

There is always talk of having the Oil Industry regulated like the utilities because of the direct link to commerce and how intertwined oil/gas is to everyone's daily existance.
FAT CHANCE this will happen - probably because of the industry being so involved in politics..Seems like they own the polititians doesn't it?????

[Havasu_Dreamin]

I wish my day rate went up in accordance with oil company profits! oh well stocks are doin good :D
That actually make me wonder, did your wages go up as the price of oil has skyrocketed? Have your costs to get the oil out of the ground drastically increased which in turn led to the increase in the cost of a barrel of oil? I'm going to theorize the asnwers to both questions are no. Which begs the question, where is all of the money being made? At the refineiries, and I'm fairly certain their operating costs have not increased so dramatically as to justify these pirces. Not bagging on any of the roughnecks, but I personally think the refiners, at least here on the West coast, are price gouging us to hell and back.

[Mandelon]

Buy their stock? :confused:

[HammerDown]

It is getting totally out of control. Some serious price gouging going on in my opinion. :confused:
No....really! :rolleyes:
Like I said before...if that a-hole in the white house :yuk: payed out of his pocket to fill up...prices would be much lower.

[bigd1]

The Saudi's needed to check on their dog and make sure he'll continue to toe the line for the rest of his term like they paid for.

[mbrown2]

Buy their stock temporarily and mid to long term buy hybrid or alternative fuel cars for your daily drivers and look into even alternative fuel vehicles for tow vehicles....have to cut demand pure and simple to change things....legislation will not help matters; it never does....

[Blownboat]

I think that pipeline break last year showed them that we would all pay anything for gas and they realize they got us by the balls, So now they are just gonna make any excuse they can to keep raising it.... ITS BULL ____! :mad:

[Sherpa]

their stocks aren't exactly stellar performers anyway........ even if/when they
bring home the cash, it's execs voting to give each other big bonuses. stock
in leuw of raises, (like they need more cash anyway) and some of the
options they get are like for .25 cents per share of stock.... even though it
might be trading at like 40 bucks at the time....... big time corporate BS at
it's finest........... and we bend over and take it once again....
--Sherpa

[Badseed]

Those numbers are crazy, but there is always another side. I hate paying 2.60 plus a gallon :mad: , but some of that is taxes and all that crap that we know about already.
I am on a development rig under contract for BP. We are a new-build rig that hasnt even drilled one inch of hole. they have spent somewhere in the neighborhood of 100,000,000 already on the project. and we just got out of the shipyard two months ago. we are in transit right now, which they are paying for. plus the 180,000 a day they are paying us just to have their name on it for now.
they have in the budget.....just for our project in the next full year, 450 million dollars. :jawdrop:
we are working on a project that will however at the end of it...hopefully 2007ish increase the US oil production by 10%. They also have plans to expand this project so that when full flow and production come around it will be somewhere around a 14-16% increase in the production from the Gulf of mexico.

[MagicMtnDan]

Buy their stock temporarily and mid to long term buy hybrid or alternative fuel cars for your daily drivers and look into even alternative fuel vehicles for tow vehicles....have to cut demand pure and simple to change things....legislation will not help matters; it never does....
I think hybrid vehicles are a good idea BUT let's look at the "logic" of owning one.
Toyota Prius costs about $30,000
Honda Civic EX costs about $18,000
Yes, the Prius gets better gas mileage but is it "enough?" The price difference between the two cars is about $12,000. At $2.50/gallon, $12,000 will buy 4800 gallons x 25 MPG (estimated for Honda) = 120,000 miles. Assuming these numbers are correct, one would have to drive the Honda well over 120,000 miles just to begin starting to justify the price of the Prius. (This is similar exercise to what it takes to justify buying a diesel pickup instead of the gas-powered version).
I personally would rather have a Honda Civic EX than a Prius. Besides the "cool factor" for the tree huggers and PETA people, I don't see why hybrids are such a hot commodity. When they are priced similar to similar cars they'll make a lot more sense.
Oh, Lexus is coming out with a line of hybrids - the first one is the RX400h which is out now or coming very soon (backordered over 10,000 units!). They will offer greater performance than their similar gas-powered models and better economy but of course they'll cost more.

[HammerDown]

:idea: Guess if I had to drive some foreign crap :yuk: puddle jumper, it would be a VW TDI...50 mpg (diesel)

[Not So Fast]

The truth is right in front of our faces, price gouging is the main reason for the increase in gas. The price of gas here in Havasu 4 months ago was around $1.50 give or take for 87 oct. Crude oil went up about $5.00 a barrel right, so divide that by 45 gal (thats what someone on here said a barrel is) and I believe thats an increase of $.11 a gallon. the price here is now $2.25 at Terribles, thats a $.75 increase right. So the price of crude had nothing to do with the prices we are now seeing. I dont want regulation but maybe it needs to be done because this ADMINISTRATION will not even look at the problem of gouging, why you ask, because they oil companies were huge backers of President Bush. All I know is that the last president got in a lot more trouble for a B--- job and this one, good ole boy George W. is really F---ing us or at least letting us be F---ed by the oil industry!!:confused: NSF

[Not So Fast]

Bump