So why is it we're paying more than $2.50/gallon?

[mailin 0]

http://moneycentral.msn.com/content/CNBCTV/Articles/Dispatches/P134024.asp

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Exxon Mobil reported earnings of $9.9 billion, $1.58 per share, up 75% from the same quarter a year ago. That's more than what Microsoft (MSFT, news, msgs) expects to report in quarterly sales after the bell today. (Microsoft is the publisher of MSN Money.)

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Like a millionaire who won the lottery, Exxon is almost embarrassed by how much money it is making. The company took out full page ads in newspapers, saying its profit is not out of line with other industries.

And one trader said the company tried to come up with every piece of bad news it could to mollify critics, including saying that lower production costs and higher costs will hurt the fourth quarter, CNBC's Bertha Coombs reported.

Jen

Arianna Frances

[chuteless 1]

I filled up at .86.9 cents per liter today. Multiply that by approximately 4, and thats the best buy in Canada.

Bill Cole

[GTAVercetti 0]

Because we accept it.

Why yes, my license number is a palindrome. Thank you for noticing.

[AlexCrowley 0]

something to do with pricing based on what the market will bear? and right now 2.50 seems real cheap compared to $3+.

IT confuses me as far as what's fair or ethical or good business, so it's the one thing I try not to think about.

TV's got them images, TV's got them all, nothing's shocking.

[Channman 2]

Not sure what the cost per gallon is in other parts of the US. But on the way to work this morning was able to get a gallon of gas at 2.33. Thats the best I've seen in Houston in well over a month.

[mailin 0]

$2.63 around the corner...


Jen

Arianna Frances

[BartsDaddy 7]

3.05 here

Handguns are only used to fight your way to a good rifle

[Casurf1978 0]

From Yahoo.

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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 profit record for U.S. companies by posting net income of almost $10 billion, according to Standard & Poor's equity market analyst Howard Silverblatt.

I'm sure they're going to put those profits to good use by building new refinaries and looking for alternative fuel sources.

[wmw999 2,577]

WHERE? That sounds great. It was 2.49 in Alvin over the weekend, but it's still expensive in Clear Lake.

Wendy w.

There is nothing more dangerous than breaking a basic safety rule and getting away with it. It removes fear of the consequences and builds false confidence. (tbrown)

[druvaughn 0]

A whole bunch of reasons --

1) The US has some of the cheapest gas in the world.
2) It is a commodity with finite supply ( think of how rare and expensive diamonds are -- this is a stretch, but both are commodities that will run out ).
3) Supply and Demand -- if we all stopped driving cars until the price came down to $1.00 a gallon, it would eventually. How are you getting to work?
4) We chose capitolism; the oil companies have finally stopped setting low prices and jumped on board with BEBE who sold my GF jeans for $200. The stock market ( as in all market economies ) will reward the oil companies for better performance, which is incentive for them to see how much they can get us to pay.
4a) This is a double-edged sword, note that we are buying far fewer SUVs and there is a wait list for hybrids. I will take a moment to ask you all to do your homework. I read somewhere (wish I could remember) that said you need to drive 60,000 miles per year over 4 years to realize the added up front cost of the hybrid over gas in driving mileage saved.

Just some thoughts.

-
-
"Baseball is 90% mental. The other half is physical."

[j0nes 0]

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2) It is a commodity with finite supply ( think of how rare and expensive diamonds are -- this is a stretch, but both are commodities that will run out ).

your analogy is flawed in that diamond aren't burned. industrial grade diamonds are dirt cheap... after all they are just really hard rocks.

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3) Supply and Demand -- if we all stopped driving cars until the price came down to $1.00 a gallon, it would eventually. How are you getting to work?

gasoline burned in automobiles accoutns for less than 10% of the oil consumed in the U.S. Even if every personal automobile stopped TODAY, we'd still be using 90% of the same oil tomorrow. Plastics, AV gas, diesel, natural gas and heating oil account for the rest of it.

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4) We chose capitolism; the oil companies have finally stopped setting low prices and jumped on board with BEBE who sold my GF jeans for $200. The stock market ( as in all market economies ) will reward the oil companies for better performance, which is incentive for them to see how much they can get us to pay.

first of all, it's CAPITALISM. the capitol is where the White House is. secondly, your BEBE jeans example is laughable as there is no designer gasoline. if you want to pay a premium for higher acotane, you are literally burning your money for NO reason.

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4a) This is a double-edged sword, note that we are buying far fewer SUVs and there is a wait list for hybrids. I will take a moment to ask you all to do your homework. I read somewhere (wish I could remember) that said you need to drive 60,000 miles per year over 4 years to realize the added up front cost of the hybrid over gas in driving mileage saved.

your disjointed mish-mash of thoughts here is confusing. is there a point in there somewhere? let me try the same thing here:

vegetables are cool and carrots have vitamin A. apples aren't vegetables but the squirrels are HAPPY!

[SudsyFist 0]

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your disjointed mish-mash of thoughts here is confusing. is there a point in there somewhere? let me try the same thing here:

vegetables are cool and carrots have vitamin A. apples aren't vegetables but the squirrels are HAPPY!

*swoon*

Do me! Do me next!!!

[Pendejo 0]

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if you want to pay a premium for higher acotane, you are literally burning your money for NO reason.

So the flash point of all octane (rather than acotane) fuels is the same? And an engine with higher compression doesn't generate more heat in the cylinder right?

Pendejo

He who swoops the ditch and does not get out buys the BEER!!

[Channman 2]

Corner of Beltway Eight and Sabo Rd., next to Kroger. And with the Kroger Card several people were getting the gas .10 cents cheeper per gallon.

[Channman 2]

They also have several hundred off shore plateforms that need to be rebuilt. The cost alone will run into the billions.

[rhys 0]

because humans in general are greedy c*nts

alternitives were invented when the internal combustion engine was invented. henry ford ran his prototypes on ether alcohol made from hemp.

Q. why does anyone need $billions?

A. they don't

"When the power of love overcomes the love of power, then the world will see peace." - 'Jimi' Hendrix

[markd_nscr986 0]

***why is it we're paying more than $2.50/gallon?

Uhhhh.....

Because we aren't in the UK ?

more than 80 pence/litre

Marc SCR 6046 SCS 3004

[sleddog 0]

And why is Diesel $3.29 a gallon????????



Oil company's making Billions
Put in to perspective how much a billion is.


A Billion seconds ago, was in the year 1959!

[Scoop 0]

You guys should fuel up in the UK, diesel costs about 97.9p a litre! Thats what.. about $1.75/litre

[Anvilbrother 0]

You seem to know what is going on. What can we do to make the price go down?

Postes r made from an iPad or iPhone. Spelling and gramhair mistakes guaranteed move along,

[Scoop 0]

If its anything like our country its like 90% tax. When its gone up people have blockaded refineries and stuff but it just caused more chaos than actually cut prices.

[downwardspiral 0]

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4a) This is a double-edged sword, note that we are buying far fewer SUVs and there is a wait list for hybrids. I will take a moment to ask you all to do your homework. I read somewhere (wish I could remember) that said you need to drive 60,000 miles per year over 4 years to realize the added up front cost of the hybrid over gas in driving mileage saved.

I read an article that was a little more reasonable. 35,000 miles per year for 5 years to break even on gas mileage. If you are trying to save money....a hybrid is not the way to go. The Honda Civic was actually recommended in the article as the most fuel/cost efficient vehicle.

www.FourWheelerHB.com

[skydyvr 0]

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Exxon Mobil reported earnings of $9.9 billion, $1.58 per share, up 75% from the same quarter a year ago.

Hopefully, this will become an antitrust case.

. . =(_8^(1)

[TrophyHusband 0]

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4) We chose capitolism; the oil companies have finally stopped setting low prices and jumped on board with BEBE who sold my GF jeans for $200. The stock market ( as in all market economies ) will reward the oil companies for better performance, which is incentive for them to see how much they can get us to pay.

this would be a valid point if, like bebe, the oil companies were competing in a fair market. if you wanted to, you could make your own jeans, market them, and sell them for whatever you think you could get. you could not go drill a well, build a refinery, and open a druvaughn gas station across the street from an exxon station.

"Your scrotum is quite nice" - Skymama
www.kjandmegan.com

[Gravitymaster 0]

I told everyone here to invest in oil futures several months ago. You are either the bug or the windshield. It's your choice.