Blaster34 Loc: Florida Treasure Coast

clickety

Just returned from 3000 mile round trip to our Grandaughter’s graduation. Really liked the facilities at our first gas fill ($4.549)so stopped there on return 3weeks later (5.599). Makes me question if we can really afford to “remake America”.

Stephan G

Just curious. Was it a hand pump? The last one I handled years ago, I had to work hard at it.

Earnest Botello Loc: Hockley, Texas

LOL, Blaster, the most accurate gage I have ever seen, scary though.

marine73 Loc: Modesto California

I just filled by wife's Prius c at the half tank mark and it was almost 40.00 dollars

DirtFarmer Loc: Escaped from the NYC area, back to MA

I believe it was a hand pump. I was probably around 5 at the time so I wasn't given the opportunity to work it.

olemikey Loc: 6 mile creek, Spacecoast Florida

We all suffered during the pandemic, and yes they did too. The good for them is fast recovery through price gouging, for us, just more suffering.

Yes I do know how it all works, sometimes I wish I wore blinders like the majority who just gripe /groan/complain about the (whoever, depending on what year) current administration. It ain't that easy. And I am trying not to make this another political football (You could ad the past "enabling" of Putin into the mix in that).

Action from this or any adminiatration: What do you suggest - Nationalizing fuel producers. Presidential Decree.....??? Imagine the uproar from the big money folks then. It takes action from the House/Senate to regulate and control, and with so many politicians collecting Oil money (both sides of the isle) that will be very slow in coming.

Trouble is, they (producers) are not utilizing the approved leases they already have, and aren't acting yet on the newest approved leases they have received from the tail end of Trump's run or the newest approved leases form Biden Admin. They are not drilling, and processing is lagging greatly, even though we hear that oil is available. And - it is the OIL Companies themselves who state they will not build new refineries.

Yes Oil is a world market item/free market, but of course there is no collusion in world market pricing - LOL. Nor do our (US) Presidents set pricing controls, it is a free market/world market.

Nuke power and huge solar plants would certainly ease a lot of this - however, Nuke plants have that scary factor that results in no one wanting one nearby, solar on the other hand just needs space, but it's not totally clean either.

StanMac Loc: Tennessee

Stan

Stephan G

Just to add. There are no 'filling stations' in the oceans that they can pull up to, connect the hoses, and load up for processing. Then there is the processing from crude to usable fuels. These take time to 'crack'. The time from discovery of oil deposit to pouring into gas tank is still in terms of months, to even years, to accomplish.

Blaster34 Loc: Florida Treasure Coast

Just curious, how are they gouging? Not understanding your take considering how recent earnings, although large are the result of some international conspiracy or corporate malfeasance. In fact gas prices spring from the basic fact that crude oil costs, and thus gasoline prices, have risen dramatically in recent months on the world market. One must remember oil and gas production profit margins are extremely volatile, varying widely with energy prices.

On average, between 2006 and 2010, the largest oil companies averaged a profit margin of around 6.5%. This pales in comparison to profit margins in just about every other industry. The pharmaceutical industry, for example, routinely averages a profit margin of about 16%. The soft drink market is even more lucrative.

However in Q4 2021, the average net margin for oil and gas production was 31.3% according to CSIMarket. That was up from 3.2% in Q3, -1.4% in Q2 and -22% in Q1, for a 12-month trailing average of 4.7%. Just some numbers to chew on.

A different online data set based on fiscal year 2020 accounting data calculates the average net profit margin for the oil and gas production and exploration sector at about 2.8%. And in the end, they are, like ANY OTHER BUSINESS, responsible to their investors and shareholders. And no, I'm not into conspiracies.

France is 90% nuclear with a proven track record, we should model our plants after them and then build, build, build. Solar and wind are not really serious options to power this economy. Nah, I don't like the high energy costs but I blame government more than I do the energy companies.

Most profitable companies in 2021 (Fortune 500)

Apple $94.7B
Berkshire Hathaway $89.8B
Alphabet $76B
Microsoft $61B
JP Morgan Chase $48.3B
Meta Platforms $39.4B
Amazon $33.4B
Bank of America $32B
Exxon Mobil $23B
Fannie Mae $22B

Lots of hypocrisy to go around when blaming oil companies. They're just an easy target because we use their products daily...why doesn't Apple, and they could, cut the price of their MacBook Pro by 40-50%....investors would scream.....Cheers Mikey.

Blaster34 Loc: Florida Treasure Coast

burkphoto Loc: High Point, NC

olemikey Loc: 6 mile creek, Spacecoast Florida

The pandemic get's a lot of credit in this, and our supply chain has not recovered as quickly as we may have thought it would, in all sectors.
So it is just business as usual eh. Smells a bit different to me (but these are our opinions afterall) ... If you aren't drilling, and aren't building new facilities, where is the money going? Pockets.
If the sector isn't making money, why are they still in it? Because it is still profitable.
It is a free market, but the Government is at fault for high prices??...they don't drill/process/distribute/sell the commodity...though they do some regulation.
I'm all for safe Nuke plants, and the French have done well (but here where "low bidder" often wins, it may be tough to "regulate in" improved safety. It's still a hard sell in most places.
Solar - I disagree, I see a bright future (pun intended). Wind/wave, good for some markets, not applicable everywhere, but adds to the mix. I am seriously considering adding my own solar solution for my home.

Look, I don't begrudge anyone for making money, but I don't appreciate "gross" profits during hard times.
I appreciate your right/my right to our views...and it is good for all of us to discuss these things. I do think they (all business) should try to moderate or balance during hard times, and when needed, the Gov should step in and help where they actually can (and still retain a "free market"). Those "controls" are a tough chew.

I do apologize to all for this hijack, I only meant to vent, guess I did!!

At any rate, I have to step out, have a great day, and cheers to you as well.

Blaster34 Loc: Florida Treasure Coast

Nope, don't mind, everyone, but everyone, is venting in this financially dire climate. Keep venting, I do, maybe some Pol will listen, doubt it though, they never do. As for moderating, business is in business for profit, not to provide jobs but to provide a service or a product plus it owes its allegiance to its investors and stockholders FIRST. Many businesses, restaurants moderated and ultimately went out of business during Covid.

The big venting by America will be in Nov. Personally I'm financially OK but my sympathies lie with the lower middle class and those living paycheck to paycheck and whose savings, if they had any at all, are being totally decimated by this predictable and mostly preventable financial mess....Cheers, have a great day.

srg

Maybe 1 percent of the world's oil comes from Russia. Why did the price rise by 300 percent?