A stronger dollar means bad things for the oil industry
Jul 30, 2016 23:37:35 #
Jul 31, 2016 06:14:06 #
now that just breaks my heart. by any standards, they will still make a killing. they are so greedy that if they don't make what they'd like to make they whine like baby's.
Jul 31, 2016 07:49:23 #
mas24
Loc: Southern CA
The price of oil going as low as $35 a barrel is unbelievable in today's market. I remember the Saudi Arabian government at one time was getting $95+ a barrel. America is still the largest energy users worldwide. However, the Chinese are right behind us, and are making good deals with oil producing countries. China's economy depends on oil just like America. I have no sympathy for the American oil companies. They have cheated the consumer for decades with their enormous profits.
Jul 31, 2016 08:02:21 #
dirtpusher wrote:
http://www.businessinsider.com/a-stronger-dollar-means-bad-things-for-the-oil-industry-2016-7
It's ironic, but the government likes a weak dollar because it's good for exports - or something. It's just the opposite of what the people want, but it's supposedly good overall. As long as I can pay my bills and have a little left over for fun, I leave the big money to the people who they they know what they're doing.
Jul 31, 2016 08:05:44 #
mas24 wrote:
I have no sympathy for the American oil companies. They have cheated the consumer for decades with their enormous profits.
Yes! I remember Exxon announcing record profits for quarter after quarter, as gasoline prices kept rising. Our tax dollars subsidize the oil companies and their record profits.
https://www.washingtonpost.com/business/economy/how-much-do-oil-companies-really-pay-in-taxes/2011/05/11/AF7UNutG_story.html
Jul 31, 2016 11:22:35 #
Oil company profits along with those of other natural resource companies are good for my retirement investments.
Jul 31, 2016 12:23:56 #
mdfenton wrote:
Oil company profits along with those of other natural resource companies are good for my retirement investments.
Yup put that in one pocket. An take it right back out of other pocket.
Jul 31, 2016 12:27:39 #
I trust nothing Goldman Sachs says. They invest in the market and are adept at pump and dump tactics, and other tricks to turn the losses of others into profits for themselves. Their major point in the article was that a strong dollar will depress oil stocks more than the continued supply glut will depress them. If Goldman Sachs is predicting a deflated oil market, my guess is they actually think it is really going up. By stampeding enough people into selling to them, now, it will be the big banks, not the small investors that rake in the profits as stocks rise.
Jul 31, 2016 12:53:52 #
If one is a political liberal, reads the Washington Post with enthusiasm, he/she will applaud when "Most congressional Democrats and the Obama administration want to end or limit tax benefits — or tax breaks — for oil companies." Then we will move on to greedy Big Pharma that also makes too much $$$. Admit it. Most of us don't really understand economics, the banking industry, how the natural resource industries work, yet too many pontificate as experts.
Jul 31, 2016 13:52:25 #
mdfenton wrote:
If one is a political liberal, reads the Washington Post with enthusiasm, he/she will applaud when "Most congressional Democrats and the Obama administration want to end or limit tax benefits — or tax breaks — for oil companies." Then we will move on to greedy Big Pharma that also makes too much $$$. Admit it. Most of us don't really understand economics, the banking industry, how the natural resource industries work, yet too many pontificate as experts.
In reality you may want to look at what boyner was doing an still is keeping subsidies an tax breaks an Mr w along with him. Lol
Jul 31, 2016 14:16:23 #
Big Bill
Loc: Phoenix, AZ
I think a little more information is in order before we start repeating the claims that big oil is cheating the consumer.
They are publicly owned corporations, and their annual reports are freely available online.
I've looked, and it seems their actual profit is in line with a reasonable profit: 6 to 8 percent.
The reported enormous profits are in line with their enormous sales.
If you really want to complain, consider this: taxes are per gallon. As the price goes down, the tax per gallon remains constant, so it's a larger percentage of the price you pay.
At $2.20/gal (more than I'm currently paying), this puts the profit for the oil company (at 8%) at $.18/gal, and that's what the state takes in tax; add in the city sales tax, and the governments are making more than the oil company on my purchases.
They are publicly owned corporations, and their annual reports are freely available online.
I've looked, and it seems their actual profit is in line with a reasonable profit: 6 to 8 percent.
The reported enormous profits are in line with their enormous sales.
If you really want to complain, consider this: taxes are per gallon. As the price goes down, the tax per gallon remains constant, so it's a larger percentage of the price you pay.
At $2.20/gal (more than I'm currently paying), this puts the profit for the oil company (at 8%) at $.18/gal, and that's what the state takes in tax; add in the city sales tax, and the governments are making more than the oil company on my purchases.
Jul 31, 2016 16:10:10 #
Big Bill wrote:
I think a little more information is in order befo... (show quote)
Can we have their golden parachutes. I'd like see both set of books.
Aug 1, 2016 12:05:01 #
Big Bill
Loc: Phoenix, AZ
dirtpusher wrote:
Can we have their golden parachutes. I'd like see both set of books.
All top executives have golden parachutes. Even politicians. That really doesn't bother many people except those who are envious instead of industrious.
Both set[sic] of books? Are you making an accusation?
Like I said, you can look it up for yourself.
Aug 1, 2016 12:12:01 #
"Set of books" ?? "Defining Set of Books. A set of books determines the functional currency, account structure, and accounting calendar for each company or group of companies."
I doubt that most (all?) of us would understand a set of books if they were handed to us from a Big Oil, Big Pharma, Big Bank.
I doubt that most (all?) of us would understand a set of books if they were handed to us from a Big Oil, Big Pharma, Big Bank.
Aug 1, 2016 12:51:51 #
Big Bill wrote:
All top executives have golden parachutes. Even politicians. That really doesn't bother many people except those who are envious instead of industrious.
Both set[sic] of books? Are you making an accusation?
Like I said, you can look it up for yourself.
Both set[sic] of books? Are you making an accusation?
Like I said, you can look it up for yourself.
you haven't a clue then. take their parachutes away. an spread out with in the company for growth. whether expansion or increasing growth. could make life better for all. manufacturer or consumer.
you really know nothing about running a business..
MOMMY they all do it. lol
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