10 little known – or often ignored – facts about gas prices and ExxonMobil’s earnings

Discussion in 'Energy' started by Wry Catcher, Mar 22, 2012.

  1. Wry Catcher
    Offline

    Wry Catcher Platinum Member

    Joined:
    Aug 3, 2009
    Messages:
    31,745
    Thanks Received:
    4,242
    Trophy Points:
    1,160
    Location:
    San Francisco Bay Area
    Ratings:
    +8,155
    Article is from the Houston Chronicle dated 10/26/2011:

    10 little known

    So, Newt promises to cut gas costs to under $2.50 a gallon and Romney blames Obama for the cost of gas. In this blog we read Exxon-Mobil's perspective which seems to offer evidence that this entire blame Obama game is one more political canard.
     
    • Thank You! Thank You! x 3
  2. uscitizen
    Offline

    uscitizen Senior Member

    Joined:
    May 6, 2007
    Messages:
    45,941
    Thanks Received:
    4,791
    Trophy Points:
    48
    Location:
    My Shack
    Ratings:
    +4,807
    I repeat. Anyone who promises $2.50 or less gas is either a fool or liar.
    Or both.
     
  3. Wry Catcher
    Offline

    Wry Catcher Platinum Member

    Joined:
    Aug 3, 2009
    Messages:
    31,745
    Thanks Received:
    4,242
    Trophy Points:
    1,160
    Location:
    San Francisco Bay Area
    Ratings:
    +8,155
    Or a demagogue.

    From the link:

    "Crude oil prices are largely determined by global markets. As I’ve said before, crude oil is one of a number of globally traded commodities like gold, corn, coffee and many others. The prices of such commodities are set in worldwide markets comprised of millions of buyers and sellers reacting to economic fundamentals for each commodity."

    Global Oil Price Factors | ExxonMobil's Perspectives Blog
     
    • Winner Winner x 1
  4. Ernie S.
    Offline

    Ernie S. Platinum Member

    Joined:
    Nov 14, 2010
    Messages:
    33,661
    Thanks Received:
    7,715
    Trophy Points:
    1,140
    Location:
    Sweet Home Alabama
    Ratings:
    +12,414
    Promise may be out of the question, but the cyclic nature of gas prices would indicate a strong possibility.
     
  5. CaughtInTheMid
    Offline

    CaughtInTheMid Active Member

    Joined:
    Jan 7, 2012
    Messages:
    949
    Thanks Received:
    80
    Trophy Points:
    28
    Ratings:
    +80
    many people want to nationalize our oil industry and either don't know what they're asking or don't care.
     
  6. Wry Catcher
    Offline

    Wry Catcher Platinum Member

    Joined:
    Aug 3, 2009
    Messages:
    31,745
    Thanks Received:
    4,242
    Trophy Points:
    1,160
    Location:
    San Francisco Bay Area
    Ratings:
    +8,155
    Isn't most of the crude produced in the world controlled by national (country owned) oil companies?

    When supply is limited for political reasons or to keep the price high markets are not free. Price 'fixing' is a product of cartels and not markets.

    Since oil is sold on the global market how can drilling in the United States lower prices here?
     
    • Winner Winner x 1
  7. FuelRod
    Offline

    FuelRod Gold Member

    Joined:
    Mar 16, 2011
    Messages:
    3,387
    Thanks Received:
    920
    Trophy Points:
    153
    Ratings:
    +924
    Interesting these perspectives were not offered 4 years ago.
     
  8. Mr Clean
    Online

    Mr Clean Gold Member

    Joined:
    Aug 23, 2009
    Messages:
    10,053
    Thanks Received:
    2,248
    Trophy Points:
    255
    Ratings:
    +3,816
    And anyone who believes that promise is either a political hack or a dunce.

    Or both.
     
  9. Wry Catcher
    Offline

    Wry Catcher Platinum Member

    Joined:
    Aug 3, 2009
    Messages:
    31,745
    Thanks Received:
    4,242
    Trophy Points:
    1,160
    Location:
    San Francisco Bay Area
    Ratings:
    +8,155
    And anyone who blames Obama for the price of gas at the pump is both.
     
  10. waltky
    Offline

    waltky Wise ol' monkey Supporting Member

    Joined:
    Feb 6, 2011
    Messages:
    20,801
    Thanks Received:
    1,789
    Trophy Points:
    215
    Location:
    Okolona, KY
    Ratings:
    +3,865
    Low oil price hits ExxonMobil profits...

    ExxonMobil and Chevron profits slide on low oil prices
    Fri, 29 Apr 2016 - Oil giant Exxon Mobil reports a 63% slide in first quarter profits following low crude prices, while rival Chevron slumps to a $725m loss.
     

Share This Page