Big Oil's Disappointing Earnings: No Need to Worry [View article]
Ha, got me - I laughed!
On May 01 05:34 AM WorkerOnWallStreet wrote:
"It's ridiculous that these oil and pharmaceutical companies are making money while the banks and auto companies are losing so much. We obviously need to tax them and take away their profits to help the banks and autos."
How can this be? Don't the evil oil companies conspire to keep prices high? Could it be that once again our friends in Congress lied to us about supposed price gouging? Tell me it isn't true, tell me that free markets don't really work.
Exxon's Record Taxes, Capital and Exploration Spending in Perspective [View article]
While checking GE's numbers, readers should also take a look at Pfizer and Microsoft. Another one that I find amusing is News Corp (NWS-A), Mr. O'Reilly's employer. They are currently showing a 16.2% profit margin which is far better than the oil companies that moron demonizes.
". . . suppose your inventory contains some gasoline made from $140-a-barrel oil and some that was purchased for $75 a barrel. That leaves a lot of room for price manipulation."
Crude oil was last priced at $75 per barrel in the September 2007 timeframe. Could you provide crude oil inventory turnover data that would give the reader a more realistic idea of what this scenario might actually look like? I seriously doubt that under any circumstance would it take 10 months for a refiner to turn its crude oil inventory. A refinery processing 200,000 BPD would have to have storage tank capacity of 60 million barrels.
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On Jul 08 05:37 PM User 362519 wrote:
"God it would be a better world if people had a solid science education."
Big Oil's Disappointing Earnings: No Need to Worry [View article]
On May 01 05:34 AM WorkerOnWallStreet wrote:
"It's ridiculous that these oil and pharmaceutical companies are making money while the banks and auto companies are losing so much. We obviously need to tax them and take away their profits to help the banks and autos."
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How can this be? Don't the evil oil companies conspire to keep prices high? Could it be that once again our friends in Congress lied to us about supposed price gouging? Tell me it isn't true, tell me that free markets don't really work.
Your pal, Uncle Frank
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Crude oil was last priced at $75 per barrel in the September 2007 timeframe. Could you provide crude oil inventory turnover data that would give the reader a more realistic idea of what this scenario might actually look like? I seriously doubt that under any circumstance would it take 10 months for a refiner to turn its crude oil inventory. A refinery processing 200,000 BPD would have to have storage tank capacity of 60 million barrels.