"To put Exxon's performance into perspective, its third quarter revenue was greater than the annual gross domestic product of some of the largest oil producing nations, including the United Arab Emirates and Kuwait. The world's largest publicly traded oil company also set a U.S. profit record with net income of almost $10 billion, according to Standard & Poor's equity market analyst Howard Silverblatt."
"Both Exxon and Shell said their performances were buoyed by higher crude-oil and natural-gas prices, even as output suffered due to a busy hurricane season in the Gulf of Mexico."
""We are capturing the benefits of high oil and gas prices and refining margins," Shell Chief Financial Officer Peter Voser said, referring to the profit margin on each barrel of crude that is refined into gasoline, diesel and jet fuel."
Capturing the benefits!? You're filling your pockets at my expense! Meanwhile Pres. Bush wants to open the "emergency" oil stock. Who's scamming who??
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Thursday, October 27, 2005
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1 comments:
The best part is that they aren't even going to be investigated for price gouging. I have said this before but this is for the cheap seats. Raising the price of crude oil because of fears that the gasoline distrubution will be disrupted is the same as raising the price of plastic because a fisher price might go out of business. Gas prices and crude oil prices while linked in the fact that you need crude to make gas means nothing to each other since we do not have the ability to refine oil to gas any faster than we did in 1970. We have enough oil in the country right now that if it were all to be refined today we could run for the next ten years at .50 cents a gallon. We can only refine it so fast however so the laws of supply and demand dictate that it be sold at 3.00+ dollars a gallon to slow consumption while more is refined. So when you sit on a surplus of plastic there is no need to pay the raising prices for it while raising the price of toys to slow down business isn't going to work because children can't live without their toys, the company gets a huge profit in return. It kind of makes you feel like a prison bitch the way they screw you and no one is going to help. There is however hope but it will take some very determined individuals to rise to the challenge of big oil. If you read this blog then you know that Diesel cars can run on vegetable oil, you can get a conversion kit to run on used vegetable oil for about 1000 dollars. The main issue is that SVO(straight vegetable oil) is thick and needs to be heated to about 150 degrees to be thin enough to be viable all the time and UVO(used vegetable oil) needs to be filtered as well. So the only thing to do is to created a heated fuel tank, fuel lines, and fuel injector that can heat to 150 degrees in less than 10 seconds so the American consumer doesn't have an issue (we are so picky). Combine that with a filtering system and you not only have become a billionaire overnight you have also solved the world energy crisis as SVO can be grown and is completely renewable and your local McDonalds will give you UVO for free. I am not a tree hugging hippy, far from it in fact but I would love to put the American hating countries of the world out of business overnight if for nothing else than because we are told they hate us because we buy their oil. Jerks.
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