Gas prices, anyone notice...

[DPI]

Also, you would be really surprised to find out the variance in octane ratings at the pump. A lot of times a gas station will have the tanker pump low-octane into the premium pumps. The stores can get into big trouble for this, but the "foriegn owned" stores don't really care and they are the worst offenders.

Another issue with octane I didn't see mentioned is the mix of gasoline vs ethanol to get to a specified octane. For example, QT purchases low octane gasoline and adds the maximum amount of ethanol (10%) to get to 87 octane. This benefits in lower costs for gasoline and more subsidy reimbursement with the ethanol. Not all retailers do this, but I know QT did through 2012. Other retailers would purchase 87 octane and then add 10% ethanol and the end user was getting a higher octane than they were paying for. I do not put ethanol in any of my vehicles or equipment.

Because ethanol has an octane rating of 113, adding 10% ethanol to gasoline raises the finished fuel's octane rating by 2 or 3 points, improving the fuel's performance.

 

[Lurkerinthewoods]

Another issue with octane I didn't see mentioned is the mix of gasoline vs ethanol to get to a specified octane. For example, QT purchases low octane gasoline and adds the maximum amount of ethanol (10%) to get to 87 octane. This benefits in lower costs for gasoline and more subsidy reimbursement with the ethanol. Not all retailers do this, but I know QT did through 2012. Other retailers would purchase 87 octane and then add 10% ethanol and the end user was getting a higher octane than they were paying for. I do not put ethanol in any of my vehicles or equipment.

Because ethanol has an octane rating of 113, adding 10% ethanol to gasoline raises the finished fuel's octane rating by 2 or 3 points, improving the fuel's performance.

I never knew the reason why, but I always get better mileage per tank when purchased at kum @ go or Shell stations. Thanks for posting this info.

 

[_CY_]

Tinfoil aside, Big oil companies aren't even close to some tech companies in profits. Taking the comparison to Apple for instance, Conoco pulled in nearly a third of the revenue Apple in..... of that third.... they were about half as profitable. That's a significant difference profitability.

what total BS!

measured by what? manipulated net profits %, not even looking at gross receipts that total in $$$ trillion dollars. again BIG oil like any HUGE corporate has teams of tax accountants who's job is to pay the lowest tax possible.

look at the mass consolidation of BIG oil the last few years... BIG oil had no choice but to spend those MASSIVE cash receipts on assets or pay taxes on it. note in no way shape or form am I saying software companies are not making $$$ ... but to compare net % profits to a business like BIG oil who is completely different in terms of hard assets makes NO sense at all.

unfortunately there are LOTS of folks just like you, who actually believe in this BS!
BIG oil are the most profitable companies on the face of the earth....

in America due to the MEGA mergers that was allowed by so called regulators ... cost of production for fuel has NOTHING to do with supply and demand for almost a decade. it took Katrina 8 years ago to give BIG oil an excuse to jack up fuel prices by double almost overnight.

for all practical purposes .. there is NO competition.. no collusion needed to jack up fuel prices, BIG oil controls such HUGE regions that they simply change prices at will.

unlike software ... we've got no choice but to pay what ever is charged for fuel to get to work. no one has to buy Apple... they compete by offering world class products. now that Samsung is also offering world class goods, they are now dominating. vs how much difference are there really from fuel brand to brand? sad truth is we've got NO choice but to pay what ever is charged to get to work.

BIG oil extracted $1.135 Trillion dollars from US economy in 2011. when numbers comes out for 2012, should be the same or slightly higher. there is NO way yanking that much $$$ out of US economy and not effect it. higher fuel prices are one of the main causes for the worst recession since 1929.

conoco/phillips gross sales for 2011 according to sec filings is 230.56B
apple gross sales for 2011 according to sec filings is 108.6B

Exxon Mobil gross sales for 2011 according to sec filings is 433.53B
BP Amoco gross sales for 2011 according to sec filings is 234.25B
Chevron gross sales for 2011 according to sec filings is 236.54B

 

[Stan Upchurch]

When I had to pay the oil companies 3 cents more a gallon, I knew we were in trouble. Gas cost with the increase 10 cents a gallon.
What were the oil companies going to do with all that extra money? As I just remember it all started there.

 

[JD8]

what total BS!

measured by what? manipulated net profits %, not even looking at gross receipts that total in $$$ trillion dollars. again BIG oil like any HUGE corporate has teams of tax accountants who's job is to pay the lowest tax possible.

look at the mass consolidation of BIG oil the last few years... BIG oil had no choice but to spend those MASSIVE cash receipts on assets or pay taxes on it. note in no way shape or form am I saying software companies are not making $$$ ... but to compare net % profits to a business like BIG oil who is completely different in terms of hard assets makes NO sense at all.

unfortunately there are LOTS of folks just like you, who actually believe in this BS!
BIG oil are the most profitable companies on the face of the earth....

in America due to the MEGA mergers that was allowed by so called regulators ... cost of production for fuel has NOTHING to do with supply and demand for almost a decade. it took Katrina 8 years ago to give BIG oil an excuse to jack up fuel prices by double almost overnight.

for all practical purposes .. there is NO competition.. no collusion needed to jack up fuel prices, BIG oil controls such HUGE regions that they simply change prices at will.

unlike software ... we've got no choice but to pay what ever is charged for fuel to get to work. no one has to buy Apple... they compete by offering world class products. now that Samsung is also offering world class goods, they are now dominating. vs how much difference are there really from fuel brand to brand? sad truth is we've got NO choice but to pay what ever is charged to get to work.

conoco/phillips gross sales for 2011 according to sec filings is 230.56B
apple gross sales for 2011 according to sec filings is 108.6B

Exxon Mobil gross sales for 2011 according to sec filings is 433.53B
BP Amoco gross sales for 2011 according to sec filings is 234.25B

I was just making a statement in relative terms of revenue and profit margin as given by several financial sites. The REST is all you arguing with yourself, you can follow the tinfoil nutjob red herring rant all you like. Carry on.

 

[_CY_]

I was just making a statement in relative terms of revenue and profit margin as given by several financial sites. The REST is all you arguing with yourself, you can follow the tinfoil nutjob red herring rant all you like. Carry on.

BS! what I'm stating is backed up by facts... tin foil, red herring my ass..
most folks sadly don't understand economics.

in America due to the MEGA mergers that was allowed by so called regulators ... cost of production for fuel has NOTHING to do with supply and demand for almost a decade. it took Katrina 8 years ago to give BIG oil an excuse to jack up fuel prices by double almost overnight.

for all practical purposes .. there is NO competition.. no collusion needed to jack up fuel prices, BIG oil controls such HUGE regions that they simply change prices at will.

unlike software ... we've got no choice but to pay what ever is charged for fuel to get to work. no one has to buy Apple... they compete by offering world class products. now that Samsung is also offering world class goods, they are now dominating. vs how much difference are there really from fuel brand to brand? sad truth is we've got NO choice but to pay what ever is charged to get to work.

BIG oil extracted $1.135 Trillion dollars from US economy in 2011. when numbers comes out for 2012, should be the same or slightly higher. there is NO way yanking that much $$$ out of US economy and not effect it. higher fuel prices are one of the main causes for the worst recession since 1929.

conoco/phillips gross sales for 2011 according to sec filings is 230.56B
apple gross sales for 2011 according to sec filings is 108.6B

Exxon Mobil gross sales for 2011 according to sec filings is 433.53B
BP Amoco gross sales for 2011 according to sec filings is 234.25B
Chevron gross sales for 2011 according to sec filings is 236.54B

 

[DPI]

Are you equating sales to extracting money from the economy?

 

[_CY_]

Are you equating sales to extracting money from the economy?

absolutely!!!

gross profit or net profit doesn't change fact that $1.135 Trillion was taken out of US economy in 2011 by BIG oil.

in terms of purchasing power .. what happened after Katrina when BIG oil used the two refineries taken down by storm into the lie that the entire US fuel supply was disrupted. when in fact neighboring refineries, overnight was capable of taking up any slack.

Katrina was the excuse BIG oil was needing to jack up fuel prices. almost overnight prices went from $1.50 gal fuel to over $3 gal, then upwards to $4 gal. we've had wild swings from $4 gal to $3 gal since then.

fuel price doubling almost overnight after Katrina in terms of purchasing power ... IMHO resulted in the largest transfer of wealth in the history of the world. I'm not aware of ANY other event that resulted in the mass transfer of wealth that quick in world history.

Gross national product (GNP) for America 2011 was $15.097 Trillion dollars
when BIG oil takes out $1.13 Trillion dollars .. how could this NOT have a HUGE effect?

above is not some red herring, jackpot theory ... everything claimed are verifiable facts!

 

[DPI]

Dude, that is not ANY profit. That is gross sales before expenses, employee paychecks, anything. You need to slow down a bit and read or take a remedial business class.

 

[Oklahomabassin]

absolutely!!!

gross profit or net profit doesn't change fact that $1.135 Trillion was taken out of US economy in 2011 by BIG oil.

in terms of purchasing power .. what happened after Katrina when BIG oil used the two refineries taken down by storm into the lie that the entire US fuel supply was disrupted. when in fact neighboring refineries, overnight was capable of taking up any slack.

Katrina was the excuse BIG oil was needing to jack up fuel prices. almost overnight prices went from $1.50 gal fuel to over $3 gal, then upwards to $4 gal. we've had wild swings from $4 gal to $3 gal since then.

fuel price doubling almost overnight after Katrina in terms of purchasing power ... IMHO resulted in the largest transfer of wealth in the history of the world. I'm not aware of ANY other event that resulted in the mass transfer of wealth that quick in world history.

above is not some red herring, jackpot theory ... everything claimed are verifiable facts!

CY so are you saying this vast amount of money they are pulling from the economy is just poof magically disappears, is hoarded away, or paid out in royalty payments, employee salaries, and vendor payments? Because money paid to employees and vendors paying there employees is the fastest way to return that money back to the economy.