Oil Companies Report Record Profits -- $1,500 Per Second

[Toddsterpatriot]

Well gosh, when you lose millions of gallons a day in production, it must be a scam for prices to rise.
Right?

 

[KissMy]

Well gosh, when you lose millions of gallons a day in production, it must be a scam for prices to rise.
Right?

This one percent production loss should be meaningless while there is still many times that in excess production capacity.

If one percent loss caused a 33% price increase, that proves the Ethanol replacing 15% of gasoline is really pounding prices down. In rural Illinois E85 Ethanol is only $1.67 at the pump. Gasoline is over $3.00

A barrel of oil produces gasoline & diesel. Supply & demand usually pushed gasoline higher than diesel. December-January diesel is usually at it's highest in relation to gasoline & June-July the reverse happens gasoline is usually at it's highest in relation to diesel. Then renewable energy directly competed with gasoline forcing it down 25% in relation to diesel. It's mid summer & gasoline & diesel are about tied, but without this competition gasoline would be 25% higher than diesel like it used to be. By Christmas gasoline will be 25% lower than diesel again.

 

[thereisnospoon]

Ass fucking Big Oil Refining companies are fucking the mid-west USA hard. Today's $42 oil means refiners cost is $1 a gallon to make gasoline, yet they wholesale it at $1.83 Then they close down a refinery in Indiana & drive the pump price over $3 a gallon. 15 years ago $42 oil = $1.25 at the pump. Today we get ass-raped for over $3 starting the car.

Read the story here....Gas prices to increase after partial shutdown at large Indiana oil refinery WTHITV.com
Note "panic buying" as the operative....
Living in the midwest you must realize by now your area has by far the weakest and most expensive supply chain of all regions in the US. As such, retail prices are far more volatile than in other regions.
"They"...Do you mean the oil companies?

 

[thereisnospoon]

Companies make big profits...

So why are we villainizing companies that make money and employ a lot of people again?

Who are the 'villains' and who is to be villainized for this?
- Oil companies that do the searching, digging, drilling, extraction (in some of the most god-foresaken places on the globe sometimes), and refining of the oil?
- The Government (federal and local) who does not do any of that work but adds a tax to gasoline simply because they want a share of the profit in taxes that consumers, not the oil companies, have to pay?
- Iran, for occassionally threatening to close down the straight of Hormuz, causing the price of oil to sky-rocket? ISIS for seizing oil fields and using the money to fund its operations?
- OPEC who manipulates the cost of a barrell of oil as they see fit so they can make a killing financially?
- Obama, who declared before the 2008 election that he would like to see the cost of gasoline at about $5 a gallon? Obama who opposes fracking and using other US resources that could finally make us energy independent and preventing us from having to pay foreign nations that support terrorists?
- The politicians who sell themselves out as 'political prostitutes', accepting hundreds of millions of dollars in donations from these special interest groups in exchange for favors/influence that benefits the companies over what is best for the country / Americans?

WHY is it that only the CEOs of the oil industry get hammered now and then by people, but no one ever mentions any of these other people / groups?

We are brainwashed daily by anti-fossil fuel advocates who preach fossil fuel is evil, especially by Liberals...
- But they all want part of their share of the profiits in the form of taxes
- None of them can come up with a replacement for it that creates SO MUCH and SO MANY of the products we use on a daily basis (Do some research and be amazed and just how much of what you use everyday is made from it.) There IS NO replacement for it right now...

If you came up with a wonder product that EVERYONE in the world needed and used on a daily basis...would YOU simply give it away or would you create a business and try to make as much profit as possible? If people are honest they would respond by saying they would try to make as much money as possible....

They pollute the environment? The EPA just F*-ED UP the environment nearly 10 (TEN) TIMES what the Gulf oil Spill did a few years ago by completely JACKING UP / FAILING HORRIBLY to conduct a simple clean up of a now-unused gold mine. The major river was YELLOW, so completely contaminated. This river affect THOUSANDS of bodies of water, miles, and citizens downstream. The environment will be devastated foir DECADES as the setiment was washed down stream for hundreds of miles and settles at the bottom...which means the only wat to get it out is to dredge ALL of that up...which is impossible. So the Obama administration just created a far worse disaster and negative impact on our environment in 1 DAY that the oile industry probably does in (a) year(s) (or more). The EPA, btw, is trying to massively downplay this event and walk away from it without executing a clean-up of their mess equal to what they demanded of the oil company down in the gulf.

-- So WHY are we trying to single out and demonize oil company CEOs again?

On the river spill. Notice how this environmental disaster is being ignored by the Obama suck up main stream media.
And why is this? Because the culprit, the hand picked Obama administration EPA is at fault.
Yet, because the profit motive is involved, oil companies are the the fucking anti- Christ....

 

[thereisnospoon]

Ass fucking Big Oil Refining companies are fucking the mid-west USA hard. Today's $42 oil means refiners cost is $1 a gallon to make gasoline, yet they wholesale it at $1.83 Then they close down a refinery in Indiana & drive the pump price over $3 a gallon. 15 years ago $42 oil = $1.25 at the pump. Today we get ass-raped for over $3 starting the car.

EPA boutique blends guarantee that a single refinery can have such a big impact on local prices.

Boutique blends of gas...another federal scam.
Especially in the mid west, every time an oil refinery worker cuts a wet fart, the price of gas in Chicago zooms upward by half a dollar.

 

[Toddsterpatriot]

Well gosh, when you lose millions of gallons a day in production, it must be a scam for prices to rise.
Right?

This one percent production loss should be meaningless while there is still many times that in excess production capacity.

If one percent loss caused a 33% price increase, that proves the Ethanol replacing 15% of gasoline is really pounding prices down. In rural Illinois E85 Ethanol is only $1.67 at the pump. Gasoline is over $3.00

A barrel of oil produces gasoline & diesel. Supply & demand usually pushed gasoline higher than diesel. December-January diesel is usually at it's highest in relation to gasoline & June-July the reverse happens gasoline is usually at it's highest in relation to diesel. Then renewable energy directly competed with gasoline forcing it down 25% in relation to diesel. It's mid summer & gasoline & diesel are about tied, but without this competition gasoline would be 25% higher than diesel like it used to be. By Christmas gasoline will be 25% lower than diesel again.

If one percent loss caused a 33% price increase, that proves the Ethanol replacing 15% of gasoline is really pounding prices down.

Ethanol isn't currently replacing 15% of gasoline.


RBOB Gasoline Futures Quotes - CME Group


Ethanol Futures Price Latest Price Chart for Ethanol - NASDAQ.com

Looks like gasoline futures are $1.67/gallon vs ethanol at $1.47/gallon.
15% of a $0.20 difference is 3 cents.
Most gas has 10% ethanol, saving 2 cents.

Yeah, really pounding those prices down.

 

[KissMy]

Well gosh, when you lose millions of gallons a day in production, it must be a scam for prices to rise.
Right?

This one percent production loss should be meaningless while there is still many times that in excess production capacity.

If one percent loss caused a 33% price increase, that proves the Ethanol replacing 15% of gasoline is really pounding prices down. In rural Illinois E85 Ethanol is only $1.67 at the pump. Gasoline is over $3.00

A barrel of oil produces gasoline & diesel. Supply & demand usually pushed gasoline higher than diesel. December-January diesel is usually at it's highest in relation to gasoline & June-July the reverse happens gasoline is usually at it's highest in relation to diesel. Then renewable energy directly competed with gasoline forcing it down 25% in relation to diesel. It's mid summer & gasoline & diesel are about tied, but without this competition gasoline would be 25% higher than diesel like it used to be. By Christmas gasoline will be 25% lower than diesel again.

If one percent loss caused a 33% price increase, that proves the Ethanol replacing 15% of gasoline is really pounding prices down.

Ethanol isn't currently replacing 15% of gasoline.


RBOB Gasoline Futures Quotes - CME Group


Ethanol Futures Price Latest Price Chart for Ethanol - NASDAQ.com

Looks like gasoline futures are $1.67/gallon vs ethanol at $1.47/gallon.
15% of a $0.20 difference is 3 cents.
Most gas has 10% ethanol, saving 2 cents.

Yeah, really pounding those prices down.

You believe price & production are linear proving you clearly have no clue about supply & damand.

 

[thereisnospoon]

Big oil needs to be nationalized.
For the people !!!!!!!! Lmfao

That was virtually the same statement Maxine Waters( D- CA) made in 2008 when oil was $140 per barrel and gas was at a national average of $3.70....

 

[thereisnospoon]

Renewable Fuels Association President and CEO Bob Dinneen issued the following statement in response to the shutdown of the BP 240,000-barrels-per-day refinery in Whiting, Indiana, which has caused gasoline prices to spike in Illinois, Michigan, Indiana, Ohio, Missouri, and Wisconsin, and could cause prices to increase in other Midwest states.

“The Whiting refinery outage demonstrates, once again, the folly of relying too heavily on one source of motor fuel. It’s worth noting that the refinery represents just 6 percent of the Midwest region’s refining capacity (and just 1 percent of national refining capacity); yet retail gas prices in some Midwest markets have spiked by 60 cents per gallon or more. This is exactly why we need to further diversify our nation’s fuel supply and allow more renewable fuels by removing arcane barriers erected by the oil companies and the Environmental Protection Agency (EPA). Using more low-cost ethanol would absolutely help insulate consumers from these kinds of price shocks.

“All of the lost gasoline output (roughly 120,000 bbls/day) resulting from this outage could be offset if all gasoline in the Midwest region immediately transitioned from E10 to E15. Moreover, ethanol in the Chicago wholesale market is roughly $1 per gallon lower than gasoline today. That means if refiners and blend more ethanol the price will fall.

The problem is Ethanol is harmful to internal combustion engines. Those flex fuel autos may be able to withstand the corrosive properties of ethanol, but those vehicles tend of lag in performance and in fuel economy over their straight gasoline counterparts.
Ethanol...This stuff is nothing more than a political tool to keep midwestern corn belt voters from a revolt.
Ask any Iowan their opinion of any candidate who supports the end of ethanol corn subsidies.....Do these people give a rat's ass how high the corn to ethanol process has driven food prices? Hell friggin no....

 

[Toddsterpatriot]

Well gosh, when you lose millions of gallons a day in production, it must be a scam for prices to rise.
Right?

This one percent production loss should be meaningless while there is still many times that in excess production capacity.

If one percent loss caused a 33% price increase, that proves the Ethanol replacing 15% of gasoline is really pounding prices down. In rural Illinois E85 Ethanol is only $1.67 at the pump. Gasoline is over $3.00

A barrel of oil produces gasoline & diesel. Supply & demand usually pushed gasoline higher than diesel. December-January diesel is usually at it's highest in relation to gasoline & June-July the reverse happens gasoline is usually at it's highest in relation to diesel. Then renewable energy directly competed with gasoline forcing it down 25% in relation to diesel. It's mid summer & gasoline & diesel are about tied, but without this competition gasoline would be 25% higher than diesel like it used to be. By Christmas gasoline will be 25% lower than diesel again.

If one percent loss caused a 33% price increase, that proves the Ethanol replacing 15% of gasoline is really pounding prices down.

Ethanol isn't currently replacing 15% of gasoline.


RBOB Gasoline Futures Quotes - CME Group


Ethanol Futures Price Latest Price Chart for Ethanol - NASDAQ.com

Looks like gasoline futures are $1.67/gallon vs ethanol at $1.47/gallon.
15% of a $0.20 difference is 3 cents.
Most gas has 10% ethanol, saving 2 cents.

Yeah, really pounding those prices down.

You believe price & production are linear proving you clearly have no clue about supply & damand.

I believe that gas is currently 20 cents more expensive on the futures market.
I believe that ethanol is only 10% of our current auto fuel consumption.
I believe adding ethanol to our gasoline is a waste of resources.
End the ethanol mandate. Corn farmers like you can consume your own ethanol.

 

[Toro]

Many oil companies are going to go bankrupt.

Are any leftists going to start threads about how unfair this is?

 

[Mr. H.]

Oil companies spend $1,499 per second.

If anyone thinks this industry is so easy and profitable, I challenge you to go out and try drilling a hole in the ground.

 

[KissMy]

The real scam is a few days ago DC lifted the 45 year old US Oil Export Ban. You can see the huge fast subtraction of oil import numbers on the US Debt Clock! These number were climbing but now rapidly spin backwards. The oil fracking boom flooded mid-west US refineries with oil. Then day they shut down a major US refinery the ban was lifted to ship the oil out of the country. This has spiked gasoline prices in the mid-west by $1/gallon forcing US to pay way more at the pump.

 

[Mr. H.]

The real scam is a few days ago DC lifted the 45 year old US Oil Export Ban. You can see the huge fast subtraction of oil import numbers on the US Debt Clock! These number were climbing but now rapidly spin backwards. The oil fracking boom flooded mid-west US refineries with oil. Then day they shut down a major US refinery the ban was lifted to ship the oil out of the country. This has spiked gasoline prices in the mid-west by $1/gallon forcing US to pay way more at the pump.

Wrong.

Try shutting up until you learn how not to lie.

 

[KissMy]

The real scam is a few days ago DC lifted the 45 year old US Oil Export Ban. You can see the huge fast subtraction of oil import numbers on the US Debt Clock! These number were climbing but now rapidly spin backwards. The oil fracking boom flooded mid-west US refineries with oil. Then day they shut down a major US refinery the ban was lifted to ship the oil out of the country. This has spiked gasoline prices in the mid-west by $1/gallon forcing US to pay way more at the pump.

Wrong.

Try shutting up until you learn how not to lie.

Big Oil is the king of liars. They banned Ethanol to take over the US fuel market & have been lying for big profits every since.

 

[Mr. H.]

The real scam is a few days ago DC lifted the 45 year old US Oil Export Ban. You can see the huge fast subtraction of oil import numbers on the US Debt Clock! These number were climbing but now rapidly spin backwards. The oil fracking boom flooded mid-west US refineries with oil. Then day they shut down a major US refinery the ban was lifted to ship the oil out of the country. This has spiked gasoline prices in the mid-west by $1/gallon forcing US to pay way more at the pump.

Wrong.

Try shutting up until you learn how not to lie.

Big Oil is the king of liars. They banned Ethanol to take over the US fuel market & have been lying for big profits every since.

Good Lord, what a pity you are.

 

[Toddsterpatriot]

The real scam is a few days ago DC lifted the 45 year old US Oil Export Ban. You can see the huge fast subtraction of oil import numbers on the US Debt Clock! These number were climbing but now rapidly spin backwards. The oil fracking boom flooded mid-west US refineries with oil. Then day they shut down a major US refinery the ban was lifted to ship the oil out of the country. This has spiked gasoline prices in the mid-west by $1/gallon forcing US to pay way more at the pump.

Wrong.

Try shutting up until you learn how not to lie.

Big Oil is the king of liars. They banned Ethanol to take over the US fuel market & have been lying for big profits every since.

Good Lord, what a pity you are.

You can bet he uses their products to run his farm.