Originally Posted by Rshermr
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Total bs. You have taught me nothing. Because you are unable to understand that the oil companies, they who make gas, can and do set whatever price they want to whenever they want to. Eia data is by definition HISTORICAL. Which has NOTHING to do with price increases. You seem to think that somehow, there is some restriction on oil companies as far as raising (or lowering) the price of gas to their distributors and gas stations. THERE IS NO RESTRICTION.
I can not believe that you are so confused. You do not listen. You are showing the method that the eia uses to compute components of gas prices after the fact.
Which have NOTHING at all to do with how the price for gasoline is set. If Exxon wants to raise prices, they can.. And,after raising prices, the eia will produce new numbers.
I never said there was a restriction. I only said there is only so much oil companies can control. 1/4 of the price of oil is dictate by oil companies (which only makes up a dollar and a few cents). 3/4 is dictated through the price of oil, the cost to refine it and taxes.
And an oil company could increase the cost of gasoline (gas for here on) any amount they want. If they raise it 20%, as they could should they want to, the eia would have new numbers next week. Then, your equation would be deifferent. Because the eia numbers would be different. Get it yet?
What they do, in reality, is raise the cost of gas by small amounts multiple times over a period of time. Perhaps 9 months. So, it could be as small as 1% per increase 20 times. The important thing to realize is that what results is nearly pure profit from those increases. Their cost per gallon sold does not increase by much. Pretty much taxes.
Often. But not about what I am saying here. You seem unable to grasp that oil companies are unable to raise gas prices any amount they want, and the eia will change their numbers to reflect the new reality.
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So, you are saying that joe station owner is looking at last weeks eia number, and price their gas for this week?? Are you really that ignorant. A gas station owner is concerned with two factors. One, the price he is charged by his gas distributor. And 2, what the other gas stations are charging. Last weeks eia number are not of any real concern to him, in terms of setting his price. Find a reference from gas station owners who say they look at the eia numbers and set their price. If you paid attention to the information I provided you relating to a pair of gas station owners, you may have noticed that they change their prices often more than once per day.
I already showed you how gas station owners does it. The EIA already gives you the mythology of what you pay when you pay at the pump. If that is
You showed nothing. Except eia methodology, which is only of secondary interest to a station owner. And not at all used in his pricing.
If that is?????????????????????? Did you think this was a complete sentence??
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Which is what I just said, dipshit. He controls only how much margin he wants to make. And like any businessman, he has to weigh profit margins versus volume. If he lowers his price some, he sells more but makes less per gallon. If he raises his price, he sells less and makes more per gallon. It is his call. All based on the cost he pays and the demand he has for gas. So, you call my opinion ignorant. But it is simple economics. Hell, you could take a basic econ class for non majors and get his problem.
So you agree that Gas Owners cannot just raise prices to whatever he or she wants, and gas prices are dictated by 4 components, not just one.
I said he does not look at eia data to price anything. He looks at the same two factors that any businessman must look at. The cost he pays for his gas, and the prices of his competition.
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So, I am curious. Why are you focusing on the gas station. He has VERY little influence on what people pay for gas. The issue is the Oil Company who supplies gas to the supply chain, be it through distributors or directly to the gas station.
You were the one talking about gas stations. I wasn't. From the start, I already told you that no one person or entity decides what the price for gas is, but somehow you've convinced yourself that gas states can set their prices to whatever they wish.
This is false, as you have already learned.
Only 1/4th of what you pay for gas is dictated by oil companies. The same mythology I have shown by the EIA applies. Each entity add their own cost to the price of gas.
I have learned nothing, and you have shown nothing. I was talking about the cost of gas to gas stations. Period. You lie way too often.
And no, again, gas station owners could care less about eia numbers when setting price. They are concerned only about the cost they pay for the gas they sell, and the competition's prices for gas. Period. Eia numbers are historical information. Not used in setting prices.
No company ever sets prices without considering those same primary factors. But all are free to set their price wherever they want.
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Crude Oil - the monthly average of the composite refiner acquisition cost, which is the average price of crude oil purchased by refiners. (Supply & Demand)
Refining Costs & Profits - the difference between the monthly average of the spot price of gasoline or diesel fuel (used as a proxy for the value of gasoline or diesel fuel as it exits the refinery) and the average price of crude oil purchased by refiners (the crude oil component). (Oil Companies)
Distribution & Marketing Costs & Profits - the difference between the average retail price of gasoline or diesel fuel as computed from EIA's weekly survey and the sum of the other 3 components. (Gas Stations)
Taxes - a monthly national average of federal and state taxes applied to gasoline or diesel fuel. Government
The historical average, crude oil having the most sway when it comes to the price. Refining cost having the second larges. Marketing Cost and Taxes can either have the third most sway, but this generally depends.
Does this make sense to you, now?
Always has. It is, as I have been saying all along, historical explanations of the cost of gas LAST WEEK. What it is not is how anyone in the gas supply chain determines their price. It explains last week's cost components, but it does NOT determine their price.
Does this make sense to you, now?
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Wow. You really make a big deal of this. Why is that Amazon??? What does sic versus NAICS have to do with anything that I care about? What does it have to do with the thread we are discussing, supposedly.
You were the one who brought it up. and you were the one who related it to your anecdotes.
No, I did not mention sic codes. What I said was that oil refining is manufacturing. You said it was not, and I showed the SIC code showing that it was. Your rants about sic versus naics have been all yours. I simply responded to them.
Is lying a congenital problem for you, amazon?
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Now let me understand this. You think I am stupid because I have not kept up with NAICS. I have many, many, many more important things in my life. If it is that important to you, you have my pitty. But calling me stupid for not keeping up with NAICS shows that one of the two of us is stupid. If you really believe it. I doubt you do, but maybe you are indeed that stupid.
So you admit you are that stupid. Good. Understanding is the first step in overcoming the problem.
As I have already said, these codes matter if you pay attention to BLS statistics or Census bureau statistics at all. If you don't care about any of these things, then you are not really interested in Economies. You're only interested in one-upping some other loser on an internet forum.
Well, I did not say you are a looser, but then........
Have you been memorizing NAICS codes????? If I need a code, I can find it, be it sic or naics. But it is more than a little unusual that you need the codes. As I am sure you know.
Please find a quote from an economist telling you he is concerned about naics codes. Go do some of your famous "research". You will find that he uses a tool that compiles what he needs, and will find the appropriate code if necessary.
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And the beat goes on. You are simply a tool. Looking for anything you can get to try to attack me. Now it is NAICS. Jesus, maybe you need to get a life.
I do have a life. I do not care at all if you do not know anything about NAICS codes. It does bother me how people need to rely on their phony credentials to win an online debate. That's pretty pathetic. What is even more pathetic not knowing as much as what you claim you have studied.
perhaps you would like to explain that last sentence, grammar queen. I suspect it was meant to be an insult
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I responded to when I got my MBA because you suggested I should have known about NAICS from my MBA studies. Which was stupid, because NAICS did not exist at the time. But it simply shows that you are incapable of anything but attacking. Which is what makes you a total dipshit.
And I say that is an excuse. Anyone who does real research with BLS or Census Bureau Statistics is aware of this format, whether they know what it is or not. It's quite apparent that you don't do real research. There are people who have received their degrees before the new classification system was enacted. These people are able to keep up, however, your degree has apparently dumbed you down. Why is this? This is because you apparently don't know as much as you claim to.
That would be your opinion. Relative to not knowing much, maybe we should talk about refineries on oil tankers. But then, you know how much I value your opinion.
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What is true is that when con tools have nothing of import to say, they attack. If you want to spend your retirement looking at NAICS categories, good for you. Makes you, in my mind, a boring person. But that is just my opinion.
So you admit that you don't actually do research, and yet just want to engage with others in economic debates.
Where you got that sentence from is beyond me. I simply said you are obviously a boring person. If you would like to discuss your research, we could talk again about oil companies and refineries not being manufacturers, and how your research showed refining is done in oil tankers. And how refining is too simple to be manufacturing. And that gas prices are set by eia numbers. And that oil companies have very little ability to control price. ........
Looks to me like those naics codes did not help you at all.
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Look, Amazon. That would be your opinion. From a person who believes in refinery oil tankers. Now, if you are so smart, how did you believe that really stupid concept. You try to make people think you are smart. Good luck with that. But your opinions about me are just that. Your opinions. And you know how much I respect your opinions.
Yeah, I don't know the difference between a tanker and a vessel... Yeah, there goes my entire career in Financial Markets... Should I tender my resignation?
No, but if I were you I would not let them know that you are that ignorant. They may make you go study naics codes. That would take care of your ignorance problem.
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Me dear, I knew of NAICS codes.
You already just said in a previous post that you didn't.
No I did not. I said I had not used them, and was not aware that they had supplanted sic to the extent that they have currently. And I was not at the time much interested in them. Because, me dear, even in 2008, those tools still used sic codes.
You need to pay attention.
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Apparently you are really impressed with NAICS. Which I do not believe for a minute. What do you do with NAICS codes, me dear? What do you think you can do with them that you can not do with SIC codes? I can tell you that I and those that worked for and with me, with onesource and hoovers could do everything that we could do with NAICS. And that is the issue. I am interested in
new technology only related to what it does for me, or in the past, my customers and the company I worked for. Obviously. But for you, it does one thing. It provides you with something to harp on. And it is really petty, rally stupid, and totally lacks any credibility. Jesus, you are a useless con.
That's nice that you only care about how terminologies and terms affect you personally. Just don't engage in economically debates with subpar understanding of the topics and evidence you are presenting.
You have demonstrated that knowing naics codes has provided you with the ability to believe that refining is not manufacturing. Or that refining happens in oil tankers. Or that eia number controls pricing. If that is the case, perhaps we should all stay away.
You need to read instead of assuming, me dear. What I said was technology. Not terminologies and terms. So, lying just does not bother you, does it, Amazon. It MUST be a congenital problem.
If economies isn't your forte, maybe you really should be discussing it.
Thanks, I guess. Glad to see you believe I really should be discussing it. But actually, the opinion of an economic idiot, such as yourself, is really pretty useless.
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And, and what? Please read below. You are completely wrong.
Now try to pay attention, Amazon. See if you can understand it this time. So far you have not done well.
211111 Crude Petroleum and Natural Gas Extraction. It is part of category 211. Here, let me help you.
NAICS code 211 - Oil and Gas
Extraction
211111 Crude Petroleum and Natural Gas Extraction
211112 Natural Gas Liquid Extraction
That is it. Catagory 21 also includes mining, support activities for mining, and building construction.
324110 NAICS Code - Petroleum Refineries
This industry comprises establishments primarily engaged in refining crude petroleum into refined petroleum. Petroleum refining involves one or more of the following activities: (1) fractionation; (2) straight distillation of crude oil; and (3) cracking.
That code, obviously, is part of category 324.
NAICS 324
Petroleum and coal products manufacturing
Oil and Gas Extraction - May 2012 OES Industry-Specific Occupational Employment and Wage Estimates
Seriously, read sources when people provide them to you
Most people would have caught on. Most people would be embarrassed to have taken that long. But not you, eh.
The problem with being unable to read your own sources is that you cannot read very well. I especially LOVE how you bold the manufacturing word, but completely ignored the word before it.
Nice try at a lie. You told me on several occasions that petroleum refining is not a manufacturing process. Now, you may need to look at your naics stuff again.
You also said that oil companies are classified in the same class as mining. They are not, though exploration and extraction is.
You also seemed incapable of understanding that naics classifies companies based on what they primarily do. Which is, manufacture and sell the products manufactured from petroleum.
They are manufacturing Petroleum Products. Not Petroleum. Again, oil companies do not manufacture Petroleum, as petroleum is a naturally occurring substance. In the petroleum industry, there are plenty of things you can make from petroleum, but gasoline is not one of them.
OK. I am speachless again. Petrolium is the raw product extracted from wells. It is indeed the raw material from which gasoline is refined.
"An oil refinery or petroleum refinery is an industrial process plant where crude oil is processed and refined into more useful products such as petroleum naphtha, gasoline, diesel fuel, asphalt base, heating oil, kerosene, and liquefied petroleum gas..."
Oil refinery - Wikipedia, the free encyclopedia
Check it out. The picture is of the refinery about 5 miles from where I live.
So, where the hell did you think gasoline came from. I mean, you have been telling me how little I know because I do not study naics codes, yet you do not have a clue of where gas comes from? Notice the picture or the refinery, by the way. It is not an OIL TANKER.
You need to give this up. Again, above I provided you with the NAICS codes for refining, which the NAICS folks (gov employees, but folks all the same) call MANUFACTURING.
Yes, for petroleum products. You obviously do not understand that you can make things from petroleum. And for this, I give you the extremely long list of Petrolum Based Products:
List of crude oil products - Wikipedia, the free encyclopedia
Now, if you don't remember, you have been arguing that gasoline is manufactured from petroleum.
Jesus. Please read above.
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The corresponding NAICS category to the SIC code for refining gasoline is 32411, Gasoline made in petroleum refineries. The operative word, my poor ignorant con, is MADE. Look up manufacturing. You will see that manufacturing means MAKING SOMETHING.
Again, you are wrong. And it's becoming extremely easy to prove you wrong. Apparently, you've 'worked with the oil folks' but you don't have a single clue how this industry works.
You really should stop. You are digging a really big hole. And yes, the folks with whom I worked would be speachless about your statements. As am i.
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Right. Sure you did. You looked for gov agencies that use SIC codes. Jesus, you are a tool.
Did I say I looked for government agencies using SIC codes? I said the only agencies which still uses them besides OHSA is the SEC. And I know because I've looked.
Why are you so terrible at reading. You'd think universities would have better standards regarding the literate proficiency regarding their candidates.
I can read just fine. I just think it is funny that you now know that there are no other gov entities using sic. Because you told me that oil was refined in an oil tanker, and that oil refining is not manufacturing, and now THAT GASOLINE IS NOT REFINED FROM PETROLEUM. And you would wonder why anyone would question your credibility.
You looked. Funny. Really funny. And obvious proof you did not.
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So you put me in a difficult situations. I can either believe you, or Wikipedia. Now I know Wikipedia is less than perfect. But then there is you. A liar and game player. My money is on Wikipedia.
You can believe who or whatever you want. I suggested that you do the research for yourself and find out. If you want to believe Wikipedia, that's fine. For all you know, I probably wrote that to fuck with you. As this is quite easy for me to do.
Yes indeed, you can screw with Wikipedia. Only done by people who are unscrupulous. Which, come to think of it, describes you well.
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Simple typo, dipshit. Change the j to an i. Yes you are fortunate, though you have no concept of economics. Not sure you even know what it is. Which is why you spend your time discussing NAICS. Jesus
NAICS has everything to do with economics. Being that it was created to classify and track economic/business activity in North America.
You can't really be this stupid...
NAICS provides classification. It tracks nothing. There are tools that do so. Naics is simply classification. The tools that use naics can be quite usefull. Naics is not generally needed then, but may be.
You can't really be this stupid...
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You just got caught saying the stupedest thing I have seen in a long time. And you believed it. Now, you say "who cares really. Anyone as naive and ignorant to believe that crude is refined on oil tankers just gave up their ability to be taken seriously. Jesus, that was stupid.
Interestingly enough, your location isn't listed on your profile. Were you trying to keep that confidential, or were you saving it just in case you needed to claim you are living in a convenient location just for your debates?
Jesus, dipshit. I moved. Where I moved from, which was Mt. Vernon, is just a few miles away.
Jesus, you will try anything to try to find a lie. But it is another opportunity to make a bet. Same deal. If i do not live here, you make the bucks. By the way, my son lives in the mt. vernon house. I still own it also. So, I guess the info is valid enough. And, Amazon, I never, ever lie.
So, do you ever say anything about the topic, or do you simply spend your time making stupid comments and making attacks?
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The closest refinery covers about 300 acres. Pretty typical in size. Employs lots of folks. Heavy on equipment. So, you call it simple?
I don't call it simple. I just don't care.
Ah, but you did. When telling me why refining gas from petrolium was not manufacturing, you said refining was a simple process.
You seem to have trouble keeping track of what you say. Mental problem, or are you simply lying again?
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But then you thought that refining happened in an oil tanker. That is why you may have thought that refining was a simple process. But, you see, you are what is technically known as full of shit.
Yep. I'm full of it. Clearly, I don't 'work with the oil folks.' Although, I don't remember claiming that I did.
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Yes, me poor ignorant tool. I do realise it. And I realize it also. Did you just notice. The company is generally categorized based on the PRIMARY business that they do.
I know you want to leave it at that. Because you know you are caught. Red handed. The point is that oil refining is MANUFACTURING. But instead of finally admitting it, you just slink away. Because you lack integrity.
No, oil refining is not manufacturing. I've already explained there is a difference between creating petroleum based products and just creating gasoline, which you claimed was 'manufacturing.' If your original position was regarding petrolum based products, I would have no problem agreeing. However, you spent two days trying to convince me that refining gasoline was was the same as manufacturing.
Jesus.
pe·tro·le·um [puh-troh-lee-uhm] noun
an oily, thick, flammable, usually dark-colored liquid that is a form of bitumen or a mixture of various hydrocarbons, occurring naturally in various parts of the world and commonly obtained by drilling: used in a natural or refined state as fuel,
or separated by distillation into gasoline, naphtha, benzene, kerosene, paraffin, etc.
Jesus, this is getting to be funny. Get it YET. How is all the knowledge you say you have of NAICS working for you.
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The corresponding NAICS category to the SIC code for refining gasoline is 32411, Gasoline made in petroleum refineries. The operative word, my poor ignorant con, is MADE. Look up manufacturing. You will see that manufacturing means MAKING SOMETHING.
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Should we go on??? But if you want to believe that refining gas is not manufacturing, I could care less
You can't have it both ways. Either your position is that making petroleum based products is manufacturing, or making gasoline is manufacturing. If you choose the second option, you are wrong of course. If you choose the latter, you are moving the goalpost. Either way, you are being disingenuous as I have your words quoted, trying to convince others that refining gasoline is the same as manufacturing it.
I tried to let you off. I asked if you really wanted to go on. And now, you attack again. But you would just not stop. Petrolium refining is a manufacturing process wherein various products are produced, INCLUDING GASOLINE. Where did you think gasoline was made from, potatoe chips??
"An oil refinery or petroleum refinery is an industrial process plant where crude oil is processed and refined into more useful products such as petroleum naphtha, gasoline, diesel fuel, asphalt base, heating oil, kerosene, and liquefied petroleum gas.[1][2] Oil refineries are typically large, sprawling industrial complexes...."
Oil refinery - Wikipedia, the free encyclopedia
So you are WRONG. I can and do have it both ways. Refining all of the products that come out of crude, not some, but all, IS MANUFACTURING. As I keep telling you. As the NAICS codes you are so in love with should tell you.
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Sure, Amazon. Funny. I do not know how this stuff works, from the person who said that crude is refined in a oil tanker. And ANYONE should believe you WHY?? But as I proved to all rational people, refining petroleum is manufacturing. Perhaps you should contact the folks at NAICS and have them set up a new category. And tell them that refining is not manufacturing regardless of what they believe.
Stupid, Amazon. But you are a hoot.
That's not what you proved at all. You said that refining gasoline was manufacturing. You are taking credit for a position you never made, and by doing so, you are moving the goal post. If you want to argue that oil companies manufacture petroleum based products, you would have had a point. But you are on the record, arguing that gasoline is manufactured, not once, but many times throughout this dialogue.
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Jesus, Amazon. You should have stopped when I gave you the chance. I am stunned again. Completely. Refining petroleum is not manufacturing petroleum. Petroleum is the base product from which all of the other products are produced. You can call it petroleum refining, or Oil Refining. Same damned thing, me dear. And yes, as you should understand by now, gas is manufactured. In the refining process. They are refining gasoline, along with other products, from crude, or petroleum. Because, you see, crude oil and petroleum are the SAME THING.
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And you believe your opinion matters for WHAT reason???
Well, they're not my opinions if it is obviously true.
Right. It is obviously your opinion still, then, that oil is refined in a oil tanker, that oil refining does not result in the production of gasoline, though it does result in the production of other products, that refining gasoline from petrolium is not manufacturing. Sure your opinions are obviously true. Sure, Amazon.
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Right. And that Oil Companies can and do raise prices as they want. And that petroleum refining is indeed manufacturing. And that gas station owners do not use last weeks eia numbers to determine how to set their price. We could go on. But you are comparing me to you. And you, me dear, are a really low bar.
If that is what you want to believe. Go for it.
I want to believe nothing. That is a con malady. I try as hard as I can to base my beliefs on facts. And the facts are that you have been wrong more than you have been correct.
So, I will not expect you to admit you were WRONG. Because, you do not have the integrity. But, your posts, though boring, are at least good for a lot of laughs. You may not be the brightest bulb on this site, but you are the funniest.