Wow
Mar 1, 2022 12:30:26 #
JFCoupe wrote:
The big oil companies take advantage of every news opportunity to create a 'shortage' of oil and raise the price at the pump. It is corporate greed, not supply and demand that is driving these prices.
Yes, the Ukraine situation will be a factor.
The sad fact too, is that the oil companies have significant subsidies from the federal government as well.
Yes, the Ukraine situation will be a factor.
The sad fact too, is that the oil companies have significant subsidies from the federal government as well.
85% of the worlds oil supplies are run by...governments.
The average net profit for a well run privately owned oil corp is around 8%.
To put that into perspective...Apples net is around 22%.
It isn't 'Big Oil'...unless you are talking about countries...and not the private sector.
Mar 1, 2022 12:35:05 #
We are startled by the price at the pumps, however, we must also realize that there are over 6,000 products that are derived from petroleum and natural gas so prices will increase on every item we rely on in some way. Here's a partial list of just a few of these petroleum-based items...and...of course, they have to be transported.
Thankfully, America can depend on OPEC to pump more crude and ship it thousands of miles to our shores. As of January 1, 2021, there were 129 operable petroleum refineries in the United States so all of the Nation's needs depend on those few refineries. The newest refinery with significant downstream unit capacity is Marathon's facility in Garyville, Louisiana. That facility came online in 1977 with an initial atmospheric distillation unit capacity of 200,000 b/cd, and as of January 1, 2021, it had a capacity of 578,000 b/cd.
Getting through the red tape of building a refinery is almost as difficult as getting through the red tape of building a nuclear reactor to generate electricity.
Thankfully, America can depend on OPEC to pump more crude and ship it thousands of miles to our shores. As of January 1, 2021, there were 129 operable petroleum refineries in the United States so all of the Nation's needs depend on those few refineries. The newest refinery with significant downstream unit capacity is Marathon's facility in Garyville, Louisiana. That facility came online in 1977 with an initial atmospheric distillation unit capacity of 200,000 b/cd, and as of January 1, 2021, it had a capacity of 578,000 b/cd.
Getting through the red tape of building a refinery is almost as difficult as getting through the red tape of building a nuclear reactor to generate electricity.
Mar 1, 2022 13:04:14 #
KindaSpikey wrote:
I have no words!
Looks like a real deal compared to ours! But then again the US doesn't have a ridiculous Carbon Tax.
bwa
Mar 1, 2022 13:07:47 #
What a crock of B.S. We have plenty of oil in this country with some of the wells shut-in. Wake up Gov. the people will only stand for this so long.
Mar 1, 2022 13:35:04 #
KindaSpikey wrote:
I have no words!
I have a few words. How can a post like this be presented without some kind of truthful honest explanation that will not move this to the attic. But, the drones in Cali.. voted this crap in. I have heard too many stories from people that moved from Cali.. to Texas to get away from the madness and shear stupidity that has taken over there. So sad since Cali.. to me is most perfect state in this country but I cannot live there.
My nickels worth on this today.
Bruce.
Mar 1, 2022 14:02:12 #
KindaSpikey wrote:
I have no words!
and to think that I remember paying $0.17 per gallon...of course that was 1962.
Mar 1, 2022 14:02:59 #
EJMcD wrote:
and to think that I remember paying $0.17 per gallon...of course that was 1962.
Me too bro.
Mar 1, 2022 14:04:03 #
JFCoupe wrote:
The big oil companies take advantage of every news opportunity to create a 'shortage' of oil and raise the price at the pump. It is corporate greed, not supply and demand that is driving these prices.
Yes, the Ukraine situation will be a factor.
The sad fact too, is that the oil companies have significant subsidies from the federal government as well.
Yes, the Ukraine situation will be a factor.
The sad fact too, is that the oil companies have significant subsidies from the federal government as well.
I’m surprised the greedy SOB’s didn’t take advantage during the prior administration.
Mar 1, 2022 14:04:27 #
lbrande wrote:
Downtown LA
Price gouging! Maybe time to tap into the strategic reserve to get some of this under control?
Mar 1, 2022 14:06:35 #
riderxlx wrote:
I have a few words. How can a post like this be presented without some kind of truthful honest explanation that will not move this to the attic. But, the drones in Cali.. voted this crap in. I have heard too many stories from people that moved from Cali.. to Texas to get away from the madness and shear stupidity that has taken over there. So sad since Cali.. to me is most perfect state in this country but I cannot live there.
My nickels worth on this today.
Bruce.
My nickels worth on this today.
Bruce.
Geographically it's likely definitely top 5, otherwise probably not so much. The problem is they come here from there and continue voting the same moronic way they voted there, gradually turning here into another hellhole like there. CA may be the most perfect state in the country to look at, if you are in the right places, but is one of, if not the, worst state to live in for quality living.
Mar 1, 2022 14:24:15 #
EJMcD wrote:
and to think that I remember paying $0.17 per gallon...of course that was 1962.
What $0.17-------I paid $0.15 for gas!! And that was a lot at the time.
Mar 1, 2022 15:06:48 #
Rich2236 wrote:
What $0.17-------I paid $0.15 for gas!! And that was a lot at the time.
I'm guessing you've been around about 77 years.
Mar 1, 2022 15:16:07 #
Mar 1, 2022 15:41:28 #
Canisdirus wrote:
85% of the worlds oil supplies are run by...governments.
The average net profit for a well run privately owned oil corp is around 8%.
To put that into perspective...Apples net is around 22%.
It isn't 'Big Oil'...unless you are talking about countries...and not the private sector.
The average net profit for a well run privately owned oil corp is around 8%.
To put that into perspective...Apples net is around 22%.
It isn't 'Big Oil'...unless you are talking about countries...and not the private sector.
I laugh when I hear idiots complain about oil companies raping consumers--especially when they are sipping on their $4 cup of coffee, or $3 bottle of water while doing the complaining.
Mar 1, 2022 15:50:55 #
Rich2236 wrote:
What $0.17-------I paid $0.15 for gas!! And that was a lot at the time.
I think I remember $0.12/gallon. I wasn’t driving then but I did find uses for gasoline. I moved out of that area in 1947.
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