Chevron-Texaco record earnings beat analysts expectations

[NFS4]

You know what's sad? I was in town in Burlington on Sunday with my GF. We drove by an old, abondoned gas station that has been out of business for 4-5 years. I looked over at the sign still standing and it said $1.04 for regular unleaded. My eyes sparkled for a brief moment until I realized that this is the same sign that I have been looking at for the past 4-5 years...fooling me everytime 🙁

 

[DanTMWTMP]

everyone who still have gas for under $2.20 should die.

so. cal...we jump for joy if it's less than $2.30 for the CHEAPEST. (87 octane).

heck..we don't even get 92 over here...nop

it's 91 for the best premium..and be prepared to pay 2.70-2.80 for it

 

[AvesPKS]

Originally posted by: Tiles2Tech

Hey, I'd kill to pay $1.71 for gas, but I'd have to go over to Indiana for it. That's what I love about Indiana and Virginia: cheap gas and cheap cigarettes.

Actually, here in Northern Virginia, a local Exxon station has regular unleaded for $1.86 a gallon. While Virginia is less than Maryland and DC for gas prices, it's still plenty high.

Also, our Virginia legislature was proposing a $.30 per pack tax increase on cigarettes along with an increase on our sales tax (4.5% to 5%.)

Well, I consider NVA to be a completely different area than I do the Colonial Beach/Northern Neck area, in the same area as suburban MD. I'm from about 45min south of DC, right near the other Potomac bridge between Dahlgren and Newberg, on 301. If you go down there, the gas and cigarettes are both considerably cheaper than they are on the other side of the bridge.

Oh, and about the cigarette tax hike: so a pack of Marlboros'll be $2.80 instead of $2.50?

 

[freegeeks]

Originally posted by: DrPizza
I've been wondering for a while if Europe felt equally large spikes in the gasoline prices... Anyone know?

if you really want to know

I paid $5,04 / gallon last saturday (after a quick conversion euro/dollar/gallon/liter)

I would give my left nut to pay $2/gallon

 

[Amused]

Originally posted by: mAdD INDIAN

Originally posted by: NFS4

Originally posted by: mAdD INDIAN
Why are you mad?

<keep in mind i didnt read the link>

I paid $1.71 for gas the other day! :|:|

We're being r@ped, and they're enjoying record profits

shut up..we pay more than you.

We pay an equivalent of $2.40USD/gallon for 87 octane.

Yesterday it was $0.89 CDN dollars for a litre.

Using an exchange rate of $1 CDN dollar being $0.73USD dollars, we get:
89 cdn cents to be 65 USD cents . And there are 3.8L in a gallon...so it comes to around $2.47 USD for a gallon of 87 octane.

That's ridicoulously expensive compared to you guys.

No, you're taxed more than us. Your oil and gas do not cost you any more than ours costs us. It's the added taxes that make the price at the pump appear so much higher in Canada. Same thing for the European countries.

 

[Amused]

BTW, for the uninformed:

Oil is a commodity. Prices are set by the market (which is controlled by OPEC). When prices go up, oil companies enjoy high profits on the lower priced oil they have in stock. It's the same for any commodity.

If you have some gold, and gold prices go through the roof, are you going to sell your gold for the price you bought it for, or for the new higher prices?

 

[Demon-Xanth]

Well, with gas prices up 50% and diesel prices up 100%, who would've thought that they'd make a killing? I actually saw a place with diesel for $2.80/gallon this weekend. Last month $1.70 was on the high side.

 

[Viper GTS]

Originally posted by: Amused
BTW, for the uninformed:

Oil is a commodity. Prices are set by the market (which is controlled by OPEC). When prices go up, oil companies enjoy high profits on the lower priced oil they have in stock. It's the same for any commodity.

If you have some gold, and gold prices go through the roof, are you going to sell your gold for the price you bought it for, or for the new higher prices?

Can I employ you to seek out these threads &amp; post intelligent responses?

I can't afford much, but it would make my life so much less stressful.

Viper GTS

 

[Vic]

Originally posted by: Amused
BTW, for the uninformed:

Oil is a commodity. Prices are set by the market (which is controlled by OPEC). When prices go up, oil companies enjoy high profits on the lower priced oil they have in stock. It's the same for any commodity.

If you have some gold, and gold prices go through the roof, are you going to sell your gold for the price you bought it for, or for the new higher prices?

Ah... but if you have enough control of a commodities market, you can manipulate it.

Remember the California brownouts a few years back? A similar scenario is happening now. The producers (edit: not OPEC, the refineries) have colluded to reduce their production. This has both reduced their overhead while increasing their sales prices.

Woohoo for them! :roll: I paid $2.29/gal. on Sunday :|

 

[Amused]

Originally posted by: Vic

Originally posted by: Amused
BTW, for the uninformed:

Oil is a commodity. Prices are set by the market (which is controlled by OPEC). When prices go up, oil companies enjoy high profits on the lower priced oil they have in stock. It's the same for any commodity.

If you have some gold, and gold prices go through the roof, are you going to sell your gold for the price you bought it for, or for the new higher prices?

Ah... but if you have enough control of a commodities market, you can manipulate it.

Remember the California brownouts a few years back? A similar scenario is happening now. The producers have colluded to reduce their production. This both reduces their overhead while increasing their sales prices.

Woohoo for them! :roll: I paid $2.29/gal. on Sunday :|

As I said, the market is controlled by OPEC. OPEC reduced production to drive up prices.

 

[Vette73]

Originally posted by: Amused

Originally posted by: Vic

Originally posted by: Amused
BTW, for the uninformed:

Oil is a commodity. Prices are set by the market (which is controlled by OPEC). When prices go up, oil companies enjoy high profits on the lower priced oil they have in stock. It's the same for any commodity.

If you have some gold, and gold prices go through the roof, are you going to sell your gold for the price you bought it for, or for the new higher prices?

Ah... but if you have enough control of a commodities market, you can manipulate it.

Remember the California brownouts a few years back? A similar scenario is happening now. The producers have colluded to reduce their production. This both reduces their overhead while increasing their sales prices.

Woohoo for them! :roll: I paid $2.29/gal. on Sunday :|

As I said, the market is controlled by OPEC. OPEC reduced production to drive up prices.

Ahhh.. the prices went up WELL before the oil production was lowered by a small amount. In fact SA and other nations are still making more then OPEC has outlined. There is no OIL shortage, but the refineries are not producing and some are even doing the same BS the power companies did to drive prices up.
Of course I am sure the prices will somehow drop right before the election.

:roll:

 

[Demon-Xanth]

I seem to remember that only 10-15% of our oil comes from OPEC member countries. Which is one major reason for the US gas prices being lower than many other countries.

 

[ElFenix]

Originally posted by: Vic


Ah... but if you have enough control of a commodities market, you can manipulate it.

Remember the California brownouts a few years back? A similar scenario is happening now. The producers (edit: not OPEC, the refineries) have colluded to reduce their production. This has both reduced their overhead while increasing their sales prices.

Woohoo for them! :roll: I paid $2.29/gal. on Sunday :|

all the refineries serving the US are running at or near capacity. some are running over capacity. so much for your theory.

here is a link if you really want to know

of course, you could say that BP intentionally blew up its refinery in texas city, but that is ludicrous

 

[Vette73]

Originally posted by: ElFenix

Originally posted by: Vic


Ah... but if you have enough control of a commodities market, you can manipulate it.

Remember the California brownouts a few years back? A similar scenario is happening now. The producers (edit: not OPEC, the refineries) have colluded to reduce their production. This has both reduced their overhead while increasing their sales prices.

Woohoo for them! :roll: I paid $2.29/gal. on Sunday :|

all the refineries serving the US are running at or near capacity. some are running over capacity. so much for your theory.

here is a link if you really want to know

of course, you could say that BP intentionally blew up its refinery in texas city, but that is ludicrous

Oh yea that is a un-biased story.


Tusiani is chairman and chief executive of Poten &amp; Partners Inc., which provides brokerage and consulting services to the oil, gas and maritime industries. He is a senior fellow at Columbia University's Center for Energy, Marine Transportation and Public Policy.

 

[freegeeks]

like Amused already said - oil is just a commodity on the world markets

it's much more expensive in Europe and Canada because of taxes

 

[timelapse]

Why don't we..... boycott oil? *chuckle* 🙂

 

[GasX]

Originally posted by: NFS4

Originally posted by: mAdD INDIAN
Why are you mad?

<keep in mind i didnt read the link>

I paid $1.71 for gas the other day! :|:|

We're being r@ped, and they're enjoying record profits

so drive less...

Why is it bad that a company profits from you using their products?

 

[dxkj]

Originally posted by: Evadman

Originally posted by: AvesPKS

Originally posted by: Evadman
$1.71? Damn. Well over $2 here in Chicago. I was paying $150+ a tank with my truck. Thank goodness my Zuk is only like $20 to fill when it is running on vapor.

Where are you filling up? I can still get it for a little under $2, but I have to run down to Midway to get it, or out to the 'burbs.

Western Burbs.

Wheaton-Naperville area and its not too far from $2 right now

 

[ElFenix]

Originally posted by: Marlin1975



Oh yea that is a un-biased story.


Tusiani is chairman and chief executive of Poten &amp; Partners Inc., which provides brokerage and consulting services to the oil, gas and maritime industries. He is a senior fellow at Columbia University's Center for Energy, Marine Transportation and Public Policy.

better someone who knows wtf he is talking about than anonymous malcontents postulating on a message board.

 

[dxkj]

XOM already reportd their earnings. I cant find the listing but the price went down that day i think 🙂.


Last thursday.... above expectation as well

 

[StageLeft]

Private company. It's not like the general public is supporting much in the way of alternative energies, so more power to these guys. Our gas prices are low compared to other first world nations anyway.

 

[Amused]

Originally posted by: Marlin1975

Originally posted by: Amused

Originally posted by: Vic

Originally posted by: Amused
BTW, for the uninformed:

Oil is a commodity. Prices are set by the market (which is controlled by OPEC). When prices go up, oil companies enjoy high profits on the lower priced oil they have in stock. It's the same for any commodity.

If you have some gold, and gold prices go through the roof, are you going to sell your gold for the price you bought it for, or for the new higher prices?

Ah... but if you have enough control of a commodities market, you can manipulate it.

Remember the California brownouts a few years back? A similar scenario is happening now. The producers have colluded to reduce their production. This both reduces their overhead while increasing their sales prices.

Woohoo for them! :roll: I paid $2.29/gal. on Sunday :|

As I said, the market is controlled by OPEC. OPEC reduced production to drive up prices.

Ahhh.. the prices went up WELL before the oil production was lowered by a small amount. In fact SA and other nations are still making more then OPEC has outlined. There is no OIL shortage, but the refineries are not producing and some are even doing the same BS the power companies did to drive prices up.
Of course I am sure the prices will somehow drop right before the election.

:roll:

What OPEC does directly affects the market. If the market even THINKS OPEC is going to cut production, prices rise. OPEC was very vocal in their plans to cut production months before they actually did. Maybe you should learn how commodity markets work before jumping to conclusions and falling for silly conspiracy theories???

Naaaaw... that would be too logical.

 

[Amused]

Originally posted by: Skoorb
Private company. It's not like the general public is supporting much in the way of alternative energies, so more power to these guys. Our gas prices are low compared to other first world nations anyway.

No, our gas prices are indentical. Their TAXES are higher. Oil is a world commodity. Everyone pays virtually the same. Taxes at the pumps vary widely, though.

So meeting every price increase with "at least we don't pay what the euro-folks pay" is misleading at best. The honest statement would be, "at least our government doesn't rape us as bad as the euro-folks are raped by their governments."

 

[BooGiMaN]

i was listening to the news last night...they said 87 will end up about 2.25 to 2.40 and 91 will end up close to 3 bucks here in calif by the summertime



this was info was from a commodities broker


he also said a common sayign among those that deal with oil is that prices shoot up like a rocket but fall like a feather...

 

[Lonyo]

If you bought more fuel efficient cars, you might not b!tch so much about prices.