When are we going to get some Relief on Fuel Prices?

[The patriot]

I used to have an oil furnace in the house.

I made an even bigger mistake. Switched to gas.

Now I have no control as to when I purchase it. I'm at their mercy.

I'm glad I have a woodstove.

Eric

 

[y-knot]

You are going to open a bad can of worms with the off road fuel prices. Don't even think about it if you have a aux fuel tank in the bed, they check arround here all the time.

I had to fill-up today and the price swing was from 2. 25 as a high to 1. 94 as a low. Of coarse the low place had a line strimings from it into the street, while the high place was empty, imagine that. I filled-up at the 1. 95 place and was in and out with out wait. I feel bad, I do not drive my truck very often, but others are on the road several hours a day!

 

[amsoilman]

Well here's something I read in "Fortune Aug. 2004 Issue". I will quote from the Magazine:

Which is more astounding: Exxon Mobil's $5. 8 BILLION second quarter earnings or the fact that the amount ranks only as Exxon's third-best quarter in the past 18 Months? "The oil Companies are printing money," says analyst Fadel Gheit of Oppenheimer. That's putting it mildly. Chevron-Texaco clocked in at $4. 1 BILLION in profits. BP, $3. 9 BILLION. Royal Dutch/Shell, $4. 0 BILLION for the quarter

It's hardly shocking that oil companies are raking in the cash when crude prices are breaking records. What's surprising is what they're not doing with the cash: Sinking it into new production. The Majors replaced only 75% of their reserves between 2001 and 2003, according to a Deutsche Bank report, and you'd expect that the lure of high prices would inspire a wave of exploration and drilling. BUt spending is growing slowly---in the single digits this year! INstead the major oil Companies are continuing to buy back shares and hand out FAT dividends. Exxon reclaimed nearly $2 BILLION of its stock last quarter and plans to gobble up another $3 BILLION this quarter! That comes on top of the $11. 5 BILLION it returned to shareholders last year. All told, including dividends and the effect of the buybacks, the major oil Companies are currently yeilding over 5%, says Deutsche Bank analysit Paul Sankey. The giants adjust to prices slowly. It's only recently, he says, that they've begun basing their plans on expectation that oil prices would exceed the teens. "They're organized to make money at $20 a barrel," Sankey says, "and the price is now $50. "



If these oil Companies are making these kinds of profits, it would seem to me they could drop prices very easily... ... ... ... ... ... ... ... ... ... ... ... ... but then I guess they are just too GREEDY!



Wayne

amsoilman

Here is the reason for the high cost of fuel! These people NEED to make a PROFIT!

 

[Truckie]

That's right they need to make a profit and they will and they know they will no matter how high they rise the price, because we are dumb enough to keep paying for it.

I for one would shut down a day or two of trucking if the rest of the industry would, but ill be damed if IM going to be the only one shutting down and loosing money.

Any hoot I was talking to a fuel truck driver tonight and he said one of the big reasons the spike in the price is, like we all know is everybody punching kerosene and home heating oil. He told me his company will sell and deliver 30,000 + gallons of heating oil and kerosene a day because most gas stations that sell kerosene in the winter use that tank and sell gas from it during the summer months, so they need to fill those tanks up with kerosene. He also told me the market price changes twice a day one at 12:00 am and 12:00pm and some times it may only change by 1 100th of a cent. The guy also showed me what they are selling the fuel to the stations for and how much of a profit the station makes. A station can make any where from 7 to 14 cents a gallon profit. Right now most of the stations around me are selling there fuel for $2. 19 to $2. 25 a gallon and they are paying $ 2. 07 to $ 2. 14 a gallon.





MIKE

 

[jcarey]

Posted by amsoilman

Which is more astounding: Exxon Mobil's $5. 8 BILLION second quarter earnings or the fact that the amount ranks only as Exxon's third-best quarter in the past 18 Months? "The oil Companies are printing money," says analyst Fadel Gheit of Oppenheimer. That's putting it mildly. Chevron-Texaco clocked in at $4. 1 BILLION in profits. BP, $3. 9 BILLION. Royal Dutch/Shell, $4. 0 BILLION for the quarter



It's really sad such greed exists. The way I look at it, though, is that bio-diesel is really starting to gain momentum thanks to this very greed. As bio production increases, as more stations carry it, prices will drop and now the oil companies will have some real competition.



Maybe the oil companies will take up farming. :-laf



Jim

 

[Mike Ellis]

I don't mind seeing big oil make a profit, I aim to keep driving my CTD wherever the price ends up. If I have to, I will break out my old heading rope and start lassoing a few of the punk kids at the local high school and see if my truck will run on hair grease. Seems to be an infinite supply.



As for the oil prices, Rusty is right on the mark - it is a commodity situation. I scratch my head like everybody else, wondering how diesel can cost more than premium unleaded, but not much we can do about it. All we can really do is watch those gas station owners who have Carl Lewis sprint outside and jack up the price $0. 10 every time the Saudis break wind, and when the situation reverses (if ever) REMEMBER and take your business elsewhere.



We here in the USA are reaping our just reward at the fuel pump every day now. Every product we have bought that was made overseas, every job that was outsourced to China, has made those countries stronger and put them in a position to compete with US for the same resources. Nobody to blame but ourselves when a bidding war starts and we have to pull out that checkbook... .

 

[rholcom2]

Posted by Mike Ellis

We here in the USA are reaping our just reward at the fuel pump every day now. Every product we have bought that was made overseas, every job that was outsourced to China, has made those countries stronger and put them in a position to compete with US for the same resources. Nobody to blame but ourselves when a bidding war starts and we have to pull out that checkbook... .

Very Very true. I believe every word. We need to do something in these countries that changes their labor costs, and drives up the cost in those other countries so there is no incentive to move jobs outside of the US.

 

[ToolManTimTaylor]

Here is the reason for the high cost of fuel! These people NEED to make a PROFIT!

God forbid if they don't make a profit. Then god knows who the heck wants to buy a product from a loosing company right

 

[SHobbs]

The way I see it. Over one thousand of our soldiers died liberating Iraq and more are dying every day. It's time for them to cough up some oil. There is more oil under Iraq than Saudi Arabia. Either pay up or we leave and their people die for a change. I do know that if more tax payers started sending emails, letters or making phone calls someone would have to react especially if they were getting buried with complaints.

 

[Big_Daddy_T]

Diesel is a byproduct of refining gasoline. There is an overabundance of diesel. The rerefine the diesel and make it into gasoline because there is way more than we could ever use. The second refining costs money. Looks like we get to pay for it.



You guys are missing one thing. You need to look up the state and federal taxes on the respective fuels. We need to go back and thank clinton. Oh yes. Clinton did this to us. He upped the federal tax on diesel fuel because as we all know. Truck drivers make WAAAAYYY too much money.



Another fuel crisis would set all that locked up oil free. If you had to wait in line for 6 hours you would want to increas production. Better yet. Lets just cut off the supply to commiefornia. We know they are the ones setting up the rules for the rest of us anyways. Not that they have ever been to my state that is still 95% pristine. Thats right. We have developed an entire 5% of alaska. Lock it up and make it a sanctuary. Or whatever there new term for state parks that you cannot even walk into because your footprints will damage the environment. Clinton also got that ball rolling.

 

[barbwire]

I don't mind seeing big oil make a profit, I aim to keep driving my CTD wherever the price ends up. If I have to, I will break out my old heading rope and start lassoing a few of the punk kids at the local high school and see if my truck will run on hair grease. Seems to be an infinite supply.



As for the oil prices, Rusty is right on the mark - it is a commodity situation. I scratch my head like everybody else, wondering how diesel can cost more than premium unleaded, but not much we can do about it. All we can really do is watch those gas station owners who have Carl Lewis sprint outside and jack up the price $0. 10 every time the Saudis break wind, and when the situation reverses (if ever) REMEMBER and take your business elsewhere.



We here in the USA are reaping our just reward at the fuel pump every day now. Every product we have bought that was made overseas, every job that was outsourced to China, has made those countries stronger and put them in a position to compete with US for the same resources. Nobody to blame but ourselves when a bidding war starts and we have to pull out that checkbook... .

No one would deny any company a FAIR profit. As a matter of fact, I would not blame the companies for not continuing in the business, if there was no profit to be had. However, there is a huge difference between making a "FAIR" profit, and "RAPING" their fellow countrymen, by making such huge profits that amount to much much more than any reasonable person could ever spend.

Furthermore, if it(oil) is a "commodity",(which I am sure that it is), it sure is easy to see who has control of the commodities , isn't it!!! After all" WHO IS REAPING THE UNREASONABLE PROFITS"????? I just hope that they do not mind their desendants bowing to the Chinese, and or any other nation that they help to build up in their greed.

 

[RMontoya]

I wouldn't count on any relief from these prices. Them guys and gals over there in Iraq are fighting to secure the supply of oil for us all. Time will tell if we are sucessful, but them prices are here to stay.

 

[WyattEarp]

Just my opinon but good thing im not one of those as they put it OVERPAID truckdrivers, those guys are busting there butts hauling everyday, would be no odds if all those eighteen wheelers came to a screeching hault right where there at... . to bad for the companies, to bad for the gas companies, Sometimes a man has got to stand up for what right and whats decent in this country, thats what it took to get out from under iron rule control once before and thats what its going to take now... just my little ol' opinion on the matter...

 

[WyattEarp]

VW beetle, what am i thinking

Okay i know that i might be crazy but i am thinking about purchasing a '70 model beetle from my cousin's wife, the car is sound and runs perfectly the only thing is a defroster/heat problem. With such prices at the diesel pumps and believe me i LOVE my Cummins if fuel goes much higher im going to have to let her sit. Is there anyone here that has a beetle bug that drives it and what would be the mpg on one as im not familiar with them at all, im sure they have a small tank but i think the fuel savings would be in my interests.

If i do this i will have to think hard about getting my small fram 6'1 210lbs in that car LOL... but i know my pocket book can't take much more of this 2. 00 a gallon fuel price at least not on an everyday basis...

I think i have lost my mind on this one :-laf

 

[RMontoya]

You haven't lost your mind my friend, your just using it.

I bought my wife a little 50cc motor scooter last year for graduation from nursing school (and for us to getting around the pits at the drag strip). I use that little thing all the time to run to town for this and that. They advertise 100 mpg, I think 70 is probably more like it, I never calculated it. I'll tell you what, where I live we pay a premimum price for fuel (they say they have to truck it in, which I think they also bring in the load of horses&^t), that little scooter takes a whole $3. 00 to fill up and I mean thats when its running on fumes. I just save my truck for the times I really need it, well most of the time I do that.

Now once the weather turns for the worse it will be a different story. I'll probably be looking for on of them 35mpg little cars myself real soon.

 

[buttugly]

Barbwire is correct. Bowing to China is a huge mistake! They are one of the main reasons we have high fuel prices today. Being a small manufacting company we deal with these people every day. They are consuming huge amounts of oil! They are STEALING your jobs by the thousands. Every day we send technology there. The fair trade system is BROKE. Now I'm hearing there is a concrete shortage coming soon because they are consuming all the barges. . We better wake up, and quick, because our national security is being threatened.

 

[DGFoster]

Barbwire is correct. Bowing to China is a huge mistake! They are one of the main reasons we have high fuel prices today. Being a small manufacting company we deal with these people every day. They are consuming huge amounts of oil! They are STEALING your jobs by the thousands. Every day we send technology there. The fair trade system is BROKE. Now I'm hearing there is a concrete shortage coming soon because they are consuming all the barges. . We better wake up, and quick, because our national security is being threatened.

I agree,we had better wake up in this country,pretty soon we will be working for 3rd world countries. .

 

[Tony T.]

No flaming intended here on the post, but sort of seems where already bowing down in a sense. Usually where seeing the Chinese, riding the little scooters an bicycles around every where. I know you bought the scooter for intended reasons stated in your post, but when you mentioned scooter I thought about all of us (U. S. ) having to go to a similar transportation. A kind of flip-flop, they get the oil an we the scooters. I would stand up an recommend to Buy American, but that would make me a hypocrite since my Dodge was built in Mexico. I know we hav' to have fuel for transportation to work an back, but maybe we should cut back on some of the pleasure trips an always use the excuse that fuel prices are way too high, maybe some other time, thank you,or gee I would like to buy that new CTD,but those fuel prices well you know, or I made those reservations back in February to take little Jimmy an Jane to Disney World, I would hate to disapoint them an not go. Majority of the people are going to pay the price an will keep paying until it gets to the point their taking out a 2nd morgage just to have fun. I know, I work hard for a living an deserve some fun time, which this is true, but we could all curve it some to maybe make a point.







Tony

You haven't lost your mind my friend, your just using it.

I bought my wife a little 50cc motor scooter last year for graduation from nursing school (and for us to getting around the pits at the drag strip). I use that little thing all the time to run to town for this and that. They advertise 100 mpg, I think 70 is probably more like it, I never calculated it. I'll tell you what, where I live we pay a premimum price for fuel (they say they have to truck it in, which I think they also bring in the load of horses&^t), that little scooter takes a whole $3. 00 to fill up and I mean thats when its running on fumes. I just save my truck for the times I really need it, well most of the time I do that.

Now once the weather turns for the worse it will be a different story. I'll probably be looking for on of them 35mpg little cars myself real soon.