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Old 11-03-2005, 10:46 AM
78novaman's Avatar
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Who else is making obscene profit from gas?

I wasn't feeling the greatest this morning so I took the day off of work. Decided to get some errands run so I wouldn't have to put up with traffic later tonight. I stopped in at our local independently owned Sunoco station to fill up. It's an old school one with the bell at the pumps & garage on the side. They had a flyer posted on each pump. I thought it was pretty good so I grabbed a copy from inside. I scanned it and thought I'd share it with you:

Quote:
Tired Of High Gas Prices?
Where your Money is Going!


The motorist and the Independent Retailer are on the same side. We are both paying an extremely escalated cost for a product that could be provided to us at a much lower rate. We want to have the ability to purchase the product at the price Refiner's retail stores are receiving it at so we can provide the consumer a lower price.

It has taken many years of planning for the oil industry to slowly move into a position of increasing amounts of leverage over the consumer. It can be resolved quickly however. The federal government has laws that were created to protect the consumer from these types of business practices. They simply need to be enforced.

Don't count on the financial institutions to rally behind our cause. They are silently growing wealthier every time the price increases. They make 3% off every dollar spent each time a debt or credit card is used. Ex: 15 gal. fill up last Dec. profit for doing nothing: 76 cents. Now on 15 gal. fill up $1.34 profit. Earnings almost doubled.

During the 2nd Quarter of 2005 Exxon Mobil ranked #1 for companies having the greatest profit, Citigroup #2, Bank of America #4, Chevron #6, and ConocoPhillips #8. These Companies ranked above Microsoft, Wal-Mart and Pfizer the drug company. Exxon doubled Microsoft in profits and tripled Wal-Mart.

Wow! Numbers; Exxon Mobil in 2004 enjoyed Net Profits of 25 billion dollars. That equals 2.5 million in profits every hour, 365 days a year, 24hr a day. It Gets Better! The first Quarter of 2005 that figure increased to 3.5 million an hour. The price of crude oil has risen but it doesn't look like it's hurting their bottom line, if anything it has given them an excuse to increase it.

Demand that the that the Federal Trade Commission and your Federal, State and Local officials hold these exploiters accountable for the damage is has done to the American Economy. Make a difference. Call some one that can help., We are meeting with officials, but unless they hear from the voters they have no reason to help.
I don't know about you guys, but from now on I am really going to try and purchase all my gas at independent stations with CASH instead of my debit card. They are hurting bad enough without taking 3% of their income from sales away. I knew they charged, but I thought it was only 1%.

Just think of how much money you are giving to your credit card company next time you charge:

Gasoline: $50.00
3% fee from the retailer: $1.50 (station owner only receives $48.50 of your $50)
20% interest from you: $10.00

So that means on you spending $50, they are making profit of $11.50, or 23%! Now just imagine millions of people doing this every day.

Most people don't even think about it, but once they see the number's they about mess themselves.

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Old 11-03-2005, 03:30 PM
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We can sit around and get pissed off about it all day, but if you want to at least try to beat them at their own gain, invest in oil/energy stocks. Bad thing is it would have been best to have bought a bunch of it in 1999-2000 when gas was $.92.
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Old 11-03-2005, 05:16 PM
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Yeah, unfortunately I was only 16 in 1999 and didn't have any money

Right now is probably not a good time to buy energy stocks. The trade is over; should probably wait until they are done sliding to get into the action. I have some bonds; I don't feel I have enough money to risk the stock market right now.

There are things we can do though. I reduced my driving and didn't buy any gas for a whole month after Katrina when the price went through the roof. This helped reduce demand and the prices, albeit slowly, went down and now they are right around $2.20/gal here in Ohio. My g/f & I filled up both vehicles today so we are good for another month if prices were to go back up.

If you don't like giving the credit card companies your money, stop charging and they won't make any money. Same goes for any commodity really, if you don't like the product or service, don't buy it.

I think most people have forgotten what capitalism is and expect the government to intervene way too much.
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Old 11-08-2005, 12:07 AM
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I work for an oil company and am buying my Co's stock in my 401K. Still a good investment. You are correct, those 'obscene' profits are going into dividends to the stock holders so if you have some shares you are one of the lucky 'greedy' oil men! Incidentally, gross profit is a relative number. True it is a lot of money but this is an industry that is selling it's inventory at a rapid pace. An Exxon or Chevron must find a billion barrel discovery every year to replace the reserves they are depleting just to stay even. I don't know if you looked recently but billion barrel fields have become pretty hard to find. Costs a lot of shekels to find and then develop one. Another economic indicator that is more telling is 'Return on Investment' (ROI) or the ratio of profits to the capital a company puts back into its business to keep it afloat. As big as Exxon's raw numbers were last quarter, there were 238 companies on the NYSE with higher ROI numbers than them, including Disney, MacDonald's, and the New York Times which routinely excoriates the oil business for making obscene profits.

Incidentally, did you know that Michael Moore, patron saint of the 'Hate big oil', 'Hate everything American' crowd is heavily invested in the oil industry including large holdings of the ultimate evil in the universe, HALLIBURTON!!!!!
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Old 11-08-2005, 06:05 AM
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Halliburton!!!!! why didn't I think of that.....

CVX is at 57 and change right now. get some before it goes above 60.

btw, reg is 2.39 here as of last night. I laughed the whole time I filled up, knowing i was screwing myself. It felt good.

HAL is just a hair under 60 right now!!! thanks for the tip Willys.

Last edited by crazy larry; 11-08-2005 at 06:10 AM.
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Old 11-08-2005, 06:22 PM
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BRY (my company) has out performed Chevron big time for the last 5 years. currently going for $58 and analyst near-term projection is for $70. Plus they just gave a $1.52 dividend this quarter (that is were we sent our obscene profits that we didn't plow back into our operations).
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