Rises in Gas Prices due to Syrian Conflict
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I paid 3.579 this morning which was the same as last week. The week before that was 3.599. The $3 bump in a barrel of oil, 3% gain usually equates a 5 to 10% gain at the pump around here. I was tempted of going out and added 40 gallons in storage when I got home a few hours ago but they already added the 2 cents back in - quick little buggers. PLUS they will be reformulating the fuel here for the "winter" blend in September. This remarkable effort costs .10 a gallon no matter what the Syrians are doing, but its only suppose to be for 3-4 weeks to pay for the "retooling" fo the refineries.
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Oil companies don't need a reason any more to raise prices, they already know the people will pay more. It goes up and people complain then it goes back down, just never back as low as it was, funny how that works! Then you throw in the stupid government into the mix with rules and regulations and all hell hits the fan and again people do nothing but whine and pay more. So who is really to blame?
Just pure greed from both sides.
Just pure greed from both sides.
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Yes it is up.
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Exons net profit margin is about 6%. Feds take about 9% up front, and my old state takes a good 12%. So who is the greater evil?
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If you believe Exon and the other big oil companies operate on a 6% margin of profit, more power to you, I don't believe that. On paper they can prove anything. But I agree, the governments take way to much. The government needs to be stopped and big business could be delt with I think.
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Shoot, I remember a few years ago the price jumped almost .50 cents overnight, and they blamed a storm in Texas... OPEC has two dart boards. One that determines how much gas will go up that day, and the other to determine the excuse.
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I filled up both trucks and two 10 gallon cans for 3.399 /gal. I was surprised since it was 10c higher last week.
However, should we attack Syria, I have no doubt it will go up quite a bit.
However, should we attack Syria, I have no doubt it will go up quite a bit.
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XOM Key Statistics | Exxon Mobil Corporation Common Stock - Yahoo! Finance
According to this their profit margin is 8.98%. I believe that is pre tax which is reduced by spending measures that discount their tax position greatly - legally too. Now of course you can assert they are lying and playing with the numbers and those who publish them for the "public" company would risk everything they own and lives in prison for making up false numbers - yes - you are free to believe that. I will gladly disagree since I think most of those who publish the numbers do so in good faith - at least good enough to avoid the loss of their substantial wealth and freedom. A company hated as much as EXXON and others like them are not about to cook books; at least not those who'd do the cooking and could end up in prison for doing so. I'm not saying it doesn't happen, it has happened before and those caught did in fact go to prison and lose everything. (GOOD).
EXXON must take from its profit and spend it in certain ways to avoid taxes; this is why I got to a 6% margin - I heard they were at 6.2% actually. California sales tax runs 8% alone, plus there is an additional flat per gallon tax like the FEDS take. Those feds don't employ many people to get it, neither does the State. Those governments don't have to explore, ship, insure, secure, and refine their product for their percentages either. I'm always dramatically amazed at how many who espouse libertarian like views feel that companies are some how this big evil thing that make "too much" money. I thought the libertarian principle was free market? Make what you can - what the market will bear?
According to this their profit margin is 8.98%. I believe that is pre tax which is reduced by spending measures that discount their tax position greatly - legally too. Now of course you can assert they are lying and playing with the numbers and those who publish them for the "public" company would risk everything they own and lives in prison for making up false numbers - yes - you are free to believe that. I will gladly disagree since I think most of those who publish the numbers do so in good faith - at least good enough to avoid the loss of their substantial wealth and freedom. A company hated as much as EXXON and others like them are not about to cook books; at least not those who'd do the cooking and could end up in prison for doing so. I'm not saying it doesn't happen, it has happened before and those caught did in fact go to prison and lose everything. (GOOD).
EXXON must take from its profit and spend it in certain ways to avoid taxes; this is why I got to a 6% margin - I heard they were at 6.2% actually. California sales tax runs 8% alone, plus there is an additional flat per gallon tax like the FEDS take. Those feds don't employ many people to get it, neither does the State. Those governments don't have to explore, ship, insure, secure, and refine their product for their percentages either. I'm always dramatically amazed at how many who espouse libertarian like views feel that companies are some how this big evil thing that make "too much" money. I thought the libertarian principle was free market? Make what you can - what the market will bear?
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Well, now that it's become known that Assad was behind the chemical attacks, we can all pretty much guess what the response will be. I would expect to watch gas skyrocket soon, over "fears" once again. I love speculation; it does nothing but cost me money for no good reason.
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Syria responds to the attacks = $5 gas
Syria takes it and doesn't do jack = $4 gas
Syria is not a huge exporter of oil is it? I don't think its a big oil supplier like Iraq and others? Unless they enage Israel, bring Iran in, or retaliate against the House of Saud or something of that nature I don't see it being a big impact on us. If o'loserboy gets his manhood by fire with a 2 day smart bombing and nothing else happens - that's probably the best we can hope for right now.
I do find it ironic as all get out that those who love to yell at Bush over Iraq don't have a problem with this and at the very least Bush did get congressional approval and UN direction. oloser - neither.
Syria takes it and doesn't do jack = $4 gas
Syria is not a huge exporter of oil is it? I don't think its a big oil supplier like Iraq and others? Unless they enage Israel, bring Iran in, or retaliate against the House of Saud or something of that nature I don't see it being a big impact on us. If o'loserboy gets his manhood by fire with a 2 day smart bombing and nothing else happens - that's probably the best we can hope for right now.
I do find it ironic as all get out that those who love to yell at Bush over Iraq don't have a problem with this and at the very least Bush did get congressional approval and UN direction. oloser - neither.
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Syria isn't a blip on the O&G scene. The reason oil would rise is if Iran threatened the straight of Hormuz. Given pure supply, that would hurt other countries like China more than the US.
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The gas we are using now was purchased and refined at least six weeks ago yet the cost increase is immediate. When the price starts back down it will be one or two pennies at a time. Up like a rocket down like a feather.
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I heard a couple of years ago, and if I remember correctly, it was said that we could continue to consume at the rate we do now, for something like 150 years, even increase our consumption, ad pay less than a dollar a gallon. I don't know how accurate that is, but I know the deposit in the Dakotas is huge.
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