High Oil and Gas? Exxon Highest profits? Bush, Cheney, GOP are lying about demand!!!!

[The Mugger]

Some of you guys really need to take a few classes on economics and you should also cover the part about profit margins in a business class while your at it. Profits go up at Oil/Gas Companies because production costs remain fix while demand for the commodity is rising causing higher prices for that commodity. I wonder which bright one amongst ya can tell me why demand is up. and as an interesting followup to that - how much of an increase in production would it take to reduce oil/gas prices. I know it's a trick question since refining is max out.

Again no conspiracy here. Move on.

 

[red]

Some of you guys really need to take a few classes on economics and you should also cover the part about profit margins in a business class while your at it. Profits go up at Oil/Gas Companies because production costs remain fix while demand for the commodity is rising causing higher prices for that commodity. I wonder which bright one amongst ya can tell me why demand is up. and as an interesting followup to that - how much of an increase in production would it take to reduce oil/gas prices. I know it's a trick question since refining is max out.

Again no conspiracy here. Move on.

thats just what they paid you to say. isn't it?

 

[Gyaos]

Some of you guys really need to take a few classes on economics and you should also cover the part about profit margins in a business class while your at it. Profits go up at Oil/Gas Companies because production costs remain fix while demand for the commodity is rising causing higher prices for that commodity. I wonder which bright one amongst ya can tell me why demand is up. and as an interesting followup to that - how much of an increase in production would it take to reduce oil/gas prices. I know it's a trick question since refining is max out.

Again no conspiracy here. Move on.

And they told you in your econ 101 class that oil and gas is tied/paid for in Iraqi dinars, not US Dollars. With oil surpluses and near full strategic petroleum reserves (you know, buy at high cost, sell at low cost....the Bush Jr. model for kindergarden F graded papers), prices continue to rise. Right? What bright one told and convinced you that "demand was up"?

Refining is continuing at near max rates, not at the max, due to high profit intake based on the monopoly scale (in this case called the oligopoly scale), which is not fully tied to demand. Remember the "law of diminishing return". I know, I gave you a trick in the answer. Can you find it? HINT: Tony The Tiger......Theeeeeeeeeeeeey're Great!!!!!!

Bush manipulates the futures contracts of both crude oil and currency? Someone better alert George Soros that there is a new sheriff in town. What a stud.

And don't forget to alert Warren Buffett betting against the US Dollar when interest rates go to 6%, maybe even 7% later this year in the USA, if oil hits $100.00. Measured farce (I mean pace).

Gyaos.

 

[arclighter]

What bright one told and convinced you that "demand was up"?
Gyaos.

Actual demand is almost irrelevant it is perceived future demand that drives the futures contracts which drives the spot market.

I know this is a difficult abstract concept, so let me break it down a little. Suppose we have enough oil in the ground to satisfy all current demand. Suddenly we discover that all known oil reserves will be depleted within in one year. Do you think today’s prices will stay the same because we have enough oil to satisfy today’s demand? I know this is mentally taxing so take your time.

 

[Gyaos]

I know this is mentally taxing so take your time.

Let me know when you find Doctor Who's T.A.R.D.I.S. and take me back to the Carter Administration, which is your concept, a concept that has been contradicted. You may have been taking a course in colouring back then, looking at your 1st grade teacher's big tits.

Gyaos.

 

[arclighter]

Let me know when you find Doctor Who's T.A.R.D.I.S. and take me back to the Carter Administration, which is your concept, a concept that has been contradicted. You may have been taking a course in colouring back then, looking at your 1st grade teacher's big tits.

Gyaos.

I find it much more effective to point out the logical fallacies and then proceed to epithets.

Skipping the first part leads one to believe that you have no compelling rebuttal, and we all know that can’t be true.

 

[Gyaos]

I find it much more effective to point out the logical fallacies and then proceed to epithets. Skipping the first part leads one to believe that you have no compelling rebuttal, and we all know that can’t be true.

Your concept is based on the Carter Administration and has been contradicted with $10.00 oil during Clinton. No matter how much everyone tries, there's no convincing you. Call C-Span.

 

[papasmerf]

no one here has mentioned the amount Exxon will re invest in the company

 

[arclighter]

Your concept is based on the Carter Administration and has been contradicted with $10.00 oil during Clinton. No matter how much everyone tries, there's no convincing you. Call C-Span.

Although I would love to take credit, I really didn't invent the "concept" of supply and demand based pricing.

 

[WoodPeckr]

So you believe Exxon is manipulating the world wide oil futures market? Why didn't they do it 10 years ago when they were losing money?

Is there any chance thay you could answer these two simple questions yourself? I promise to be gentle.

Exxon, by itself is not manipulating the world wide oil futures market.....that is more correctly OPEC's function. OPEC has meetings on it, then posts the results of these meetings all the time. You're saying you never heard of these OPEC meetings or deny they happen???? Opec openly claims they use oil quota's to regulate [manipulate] the worlds price of oil. In fact OPEC just had a recent meeting where they said oil production was to be cut 1 million barrels a day to shore up [manipulate] the world oil price.
Oil interests never lose money even 10 years ago. They just didn't make as much as they planned on making !.

It's called 'creative accounting', done all the time. For instance they plan on making say, $800 million in a given year but end up making only $400 million. So instead of saying they profited $400 million, they claim they lost $400 million that year and as a result of this 'loss' they have to double the price of their product to make up for this 'paper loss'. Neat scam ehhh!

MARKET MANIPULATION will also come into play and be highlighted in the upcoming Enron trial/circus where MARKET MANIPULATION was one of the 'business strategies' of Kenny Boy, as Dubya used to refer to him, and the other crooks of that utterly corrupt Texas outfit.

Do you happen to recall those Enron audio-tapes that were played on manys News stations and TV News that showed Enron officials openly laughing and joking about how they were going to make a 'killing' off those 'contrived rolling brownouts and blackouts' they manufactured and sent throughout California etc ??? Then these Enron officials laughed and joked as their customers called in to complain about skyrocketing energy prices that were all phony and created by Enron from the start to manipulate energy costs through the roof!

Ahh yes MARKET MANIPULATION is just one of the benefits of Deregulation.
We are supposed to believe the market will correct all and we don't have to regulate these people/businesses because they are all run by 'honest' people now.

Well if you believe that one, I got a great tip for you on some hot Enron, Tyco and Delphi stock, put all your money on it, you can't loose.........

Time to bring back Regulation. As For Kenny Boy et al., I prefer the Chinese solution for corruption for them....'a single bullet to the back of the head'! These vermin don't even deserve prison housing of 3 squares & a cot, at taxpayers expense.



Hell, we've been letting OPEC do
Texas' manipulating for years !!!

 

[arclighter]

Exxon, by itself is not manipulating the world wide oil futures market.....that is more correctly OPEC's function. OPEC has meetings on it, then posts the results of these meetings all the time. You're saying you never heard of these OPEC meetings or deny they happen???? Opec openly claims they use oil quota's to regulate [manipulate] the worlds price of oil. In fact OPEC just had a recent meeting where they said oil production was to be cut 1 million barrels a day to shore up [manipulate] the world oil price.
Oil interests never lose money even 10 years ago. They just didn't make as much as they planned on making !.

It's called 'creative accounting', done all the time. For instance they plan on making say, $800 million in a given year but end up making only $400 million. So instead of saying they profited $400 million, they claim they lost $400 million that year and as a result of this 'loss' they have to double the price of their product to make up for this 'paper loss'. Neat scam ehhh!

MARKET MANIPULATION will also come into play and be highlighted in the upcoming Enron trial/circus where MARKET MANIPULATION was one of the 'business strategies' of Kenny Boy, as Dubya used to refer to him, and the other crooks of that utterly corrupt Texas outfit.

Do you happen to recall those Enron audio-tapes that were played on manys News stations and TV News that showed Enron officials openly laughing and joking about how they were going to make a 'killing' off those 'contrived rolling brownouts and blackouts' they manufactured and sent throughout California etc ??? Then these Enron officials laughed and joked as their customers called in to complain about skyrocketing energy prices that were all phony and created by Enron from the start to manipulate energy costs through the roof!

Ahh yes MARKET MANIPULATION is just one of the benefits of Deregulation.
We are supposed to believe the market will correct all and we don't have to regulate these people/businesses because they are all run by 'honest' people now.

Well if you believe that one, I got a great tip for you on some hot Enron, Tyco and Delphi stock, put all your money on it, you can't loose.........

Time to bring back Regulation. As For Kenny Boy et al., I prefer the Chinese solution for corruption for them....'a single bullet to the back of the head'! These vermin don't even deserve prison housing of 3 squares & a cot, at taxpayers expense.



Hell, we've been letting OPEC do
Texas' manipulating for years !!!

Of course OPEC has an impact on oil prices - that is the supply side of supply and demand. What is your point exactly? Bush is controlling OPEC?

Why conflate Enron into this mess? Enron broke the law and is being punished. And they are being punished under a republican administration. So what.

This ridiculous thread started with the notion that something sinister was at play regarding Exxon's profits. I pointed out that it was simple supply and demand economics, and with this last post, you apparently agree.

Cartels are part of supply and demand. So do you have anything relevant to your evil Bush theory, or are we done?

 

[maxweber]

crime & punishment

Time to bring back Regulation. As For Kenny Boy et al., I prefer the Chinese solution for corruption for them....'a single bullet to the back of the head'! These vermin don't even deserve prison housing of 3 squares & a cot, at taxpayers expense.

We throw the book at some dumb kid who pulls a gun on a handy store clerk. But CEOs and execs like Boesky and Millken steal billions, destroy thouands of lives--and get a few years ina country club minimum security prison. Let's see if the latest round of economy destroyers get serious sentences.

MW

 

[Gyaos]

no one here has mentioned the amount Exxon will re invest in the company

I don't see those huge profits "trickling down" at this time. Good 'ol Reagan's "trickle down economics". I bet they won't reinvest until prices lower due to diminishing return, in fact they have been closing refineries just to push the price of oil up. But when the price drops when Bush Jr. is impeached, Iran is nuked, or Osama and Musharef are placed inside a cage, then they'll have to.

 

[langeweile]

Once the oil prices will go past the pain threashold. There will be a demand for alternatives and someone will fill that demand..period.

Follow the money.

 

[arclighter]

Once the oil prices will go past the pain threashold. There will be a demand for alternatives and someone will fill that demand..period.

Follow the money.

But..but..you didn't mention Bush and his "cronies".

 

[arclighter]

I don't see those huge profits "trickling down" at this time. Good 'ol Reagan's "trickle down economics". I bet they won't reinvest until prices lower due to diminishing return, in fact they have been closing refineries just to push the price of oil up. But when the price drops when Bush Jr. is impeached, Iran is nuked, or Osama and Musharef are placed inside a cage, then they'll have to.

Exxon is a publicly traded company. Buy some stock in Exxon and you will "see" some "trickle down". Jeez.

 

[langeweile]

But..but..you didn't mention Bush and his "cronies".

unless you believe that cheap oil is another entitlement program, there is no room for goverment in this. with the exception of leveling the playing field for all to have a chance to compete.

if goverment get's involved prices will even go higher...see Canada and Europe...anyone remember Carter's "Windfall tax"...

I wish there would be more history lessons in school today.

 

[arclighter]

unless you believe that cheap oil is another entitlement program, there is no room for goverment in this. with the exception of leveling the playing field for all to have a chance to compete.

if goverment get's involved prices will even go higher...see Canada and Europe...anyone remember Carter's "Windfall tax"...

I wish there would be more history lessons in school today.

Democrats (and a few Republicans) don't understand that a windfall profit tax becomes just another cost to a busness, which of course is passed on to the consumer. One more example of politicians hurting those they profess to protect.

 

[red]

So you believe Exxon is manipulating the world wide oil futures market? Why didn't they do it 10 years ago when they were losing money?

Is there any chance thay you could answer these two simple questions yourself? I promise to be gentle.

Exxon Net Income

2004 25.3 billion
2003 21.5 billion
2002 11.5 billion
2001 15.3 billion
2000 17.7 billion
1999 7.9 billion
1998 8.0 billion
1997 8.4 billion
1996 7.5 billion
1995 6.4 billion
1994 5.1 billion
1993 5.3 billion

 

[langeweile]

Exxon Net Income

2004 25.3 billion
2003 21.5 billion
2002 11.5 billion
2001 15.3 billion
2000 17.7 billion
1999 7.9 billion
1998 8.0 billion
1997 8.4 billion
1996 7.5 billion
1995 6.4 billion
1994 5.1 billion
1993 5.3 billion

I should have bought Exxon in 1993...damned it..