Fuel prices (OT)

[Boser]

3.75 a gallon here in IOWA.....

I dont understand though, it went from 3.86 to 3.75 over night.....

I have two Suburbans so that does hurt......

Boser

[DShock]

$4.23 for regular unleaded here in Oregon.
Doug

[Gigmaster]

In america last year the oil industries actually made less profit per dollar invested than the average industry, quite a bit less if you throw out the auto industry.

Thankfully our US oil industry is willing to make a less than average % of profit. That allows us to have a cheap 4 $/gallon. Our gas would be even cheaper had our US dollar not dropped over the last year.




If you dont think we have cheap gas, go look up what the rest of the world pays(except china, the government subsidizes their gas industry)

Where did you get your information? The fact is, that according to Forbes, and all the major financial reports, Oil companies have been making RECORD profits for the last 3 years, with 2008 shaping up to be the biggest, yet! So much so that Congress is investigating the entire Oil industry for suspicion of price-gouging, price-fixing and other illegal activities. They have also proposed charging them a 'Windfall Profit' tax.

Come on! Look around you. When was the last time you heard of Oil Companies having a major lay-off? Have they closed down any plants? Of course not. Have any gone out of business, or filed for Bankruptcy? No. Have they shut down any rigs because they don't have the money to run them? They make enough money to pay oil field workers $45,000.00, to well over $100,000.000 a year. These are not administrative, or professional positions, but cooks, roustabouts, roughnecks and drilling personnel. And they are in little danger of being layed-off. There are few industries that hire entry-level, unschooled, untrained workers at $45,000.00 a year, but the oil companies do. So, I wonder how much the executives make?????

Since these figures are public record, I am not really interested in hearing a lot of propagandic drivel about how they are not making any money. I'll try to remember to feel sorry for those poor, underpaid oil companies next time I pay $80.00+ dollars to fill my vehicle up.

[ausable_ny]

Many State Public Employee Pension Funds are invested big time in Oil Companies and raking in profits from them!

http://spectator.org/dsp_article.asp?art_id=13381

Bob

Not just Public Employees...MOST 401k's are invested in oil, especially Exxon/Mobil.

[DShock]

......http://articles.moneycentral.msn.com...aspx?GT1=33009
Doug

[DShock]

.......http://www.katu.com/news/business/20013749.html
Doug

[analogbob]

Not just Public Employees...MOST 401k's are invested in oil, especially Exxon/Mobil.

Granted; they are invested in the traditional market, but did you notice that the California Pension Fund is, for the first time, partially invested in the Commodities market, which likely includes Oil. This is pretty risky. What happens to that investment if the price of a barrel of oil drops by 1/3rd?
Bob