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
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    Wry Catcher Platinum Member

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    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.
     
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  2. uscitizen
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    uscitizen Senior Member

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    I repeat. Anyone who promises $2.50 or less gas is either a fool or liar.
    Or both.
     
  3. Wry Catcher
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    Wry Catcher Platinum Member

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    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
     
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  4. Ernie S.
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    Ernie S. Diamond Member

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    Promise may be out of the question, but the cyclic nature of gas prices would indicate a strong possibility.
     
  5. CaughtInTheMid
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    CaughtInTheMid Active Member

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    many people want to nationalize our oil industry and either don't know what they're asking or don't care.
     
  6. Wry Catcher
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    Wry Catcher Platinum Member

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    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?
     
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  7. FuelRod
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    FuelRod Gold Member

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    Interesting these perspectives were not offered 4 years ago.
     
  8. Mr Clean
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    Mr Clean Gold Member

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    And anyone who believes that promise is either a political hack or a dunce.

    Or both.
     
  9. Wry Catcher
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    Wry Catcher Platinum Member

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    And anyone who blames Obama for the price of gas at the pump is both.
     
  10. waltky
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    waltky Wise ol' monkey Supporting Member

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    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.
     

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