Oil & Gas thread:12-17-08 OPEC & non-members agree to largest reduction in history 7 percent

[dmcowen674]

I'm sure the apologists will spin and justify this somehow:

7-31-2008 Big prices for oil, record 2Q profits at Shell

AMSTERDAM, Netherlands - Royal Dutch Shell PLC reported a 33 percent jump in second-quarter profits Thursday, its biggest quarter ever at $11.6 billion thanks to high oil prices and the weak dollar.

The company earned $8.67 billion in the same quarter last year,

Chief Executive Jeroen van der Veer dismissed calls in Britain for a windfall tax on oil companies.

Refining profits rose 16 percent to $4.54 billion

The company's net sales were $131 billion in the quarter, up from $84.9 billion.

 

[LegendKiller]

Originally posted by: dmcowen674
I'm sure the apologists will spin and justify this somehow:

7-31-2008 Big prices for oil, record 2Q profits at Shell

AMSTERDAM, Netherlands - Royal Dutch Shell PLC reported a 33 percent jump in second-quarter profits Thursday, its biggest quarter ever at $11.6 billion thanks to high oil prices and the weak dollar.

The company earned $8.67 billion in the same quarter last year,

Chief Executive Jeroen van der Veer dismissed calls in Britain for a windfall tax on oil companies.

Refining profits rose 16 percent to $4.54 billion

The company's net sales were $131 billion in the quarter, up from $84.9 billion.

Actually, they are making *LESS* money. Profit margin for the same quarter last year was 10.2%, now it is 8.85%. That's a pretty significant difference. They're getting squeezed also.

 

[dmcowen674]

Originally posted by: LegendKiller

Originally posted by: dmcowen674
I'm sure the apologists will spin and justify this somehow:

7-31-2008 Big prices for oil, record 2Q profits at Shell

AMSTERDAM, Netherlands - Royal Dutch Shell PLC reported a 33 percent jump in second-quarter profits Thursday, its biggest quarter ever at $11.6 billion thanks to high oil prices and the weak dollar.

The company earned $8.67 billion in the same quarter last year,

Chief Executive Jeroen van der Veer dismissed calls in Britain for a windfall tax on oil companies.

Refining profits rose 16 percent to $4.54 billion

The company's net sales were $131 billion in the quarter, up from $84.9 billion.

Actually, they are making *LESS* money.

Profit margin for the same quarter last year was 10.2%, now it is 8.85%.

That's a pretty significant difference.

They're getting squeezed also.

See :roll:

 

[LegendKiller]

Originally posted by: dmcowen674

Originally posted by: LegendKiller

Originally posted by: dmcowen674
I'm sure the apologists will spin and justify this somehow:

7-31-2008 Big prices for oil, record 2Q profits at Shell

AMSTERDAM, Netherlands - Royal Dutch Shell PLC reported a 33 percent jump in second-quarter profits Thursday, its biggest quarter ever at $11.6 billion thanks to high oil prices and the weak dollar.

The company earned $8.67 billion in the same quarter last year,

Chief Executive Jeroen van der Veer dismissed calls in Britain for a windfall tax on oil companies.

Refining profits rose 16 percent to $4.54 billion

The company's net sales were $131 billion in the quarter, up from $84.9 billion.

Actually, they are making *LESS* money.

Profit margin for the same quarter last year was 10.2%, now it is 8.85%.

That's a pretty significant difference.

They're getting squeezed also.

See :roll:

Yeah, logic is so duplicitous. That's why you're never duplicitous, right Dave? Cuz you don't have a logical bone in your body.

 

[Capt Caveman]

Gas falls below $3.90 a gallon Average fuel prices fall for 15th straight day, according to AAA survey.

 

[Engineer]

Oil just went from -$1.xx per barrel to +$4.xx per barrel ($128.xx) on news of Iran's nuclear program and comments from Israel. Seems high oil prices just can't seem to go away right now. While they are down from their high, they seem to have found a floor (for now) and is running between a range right now. Any geopoliticial news seems to drive it crazy.

 

[Auric]

Enough with the belligerance already, Israel. Oy vey!

Seriousry, it is criminal that the global community tolerates Israel bombing their neighbors. Is the USA really allowing their threats thinking it will help the negotiation process with Iran? Crazy.

 

[EagleKeeper]

Originally posted by: Auric
Enough with the belligerence already, Israel. Oy vey!

Seriously, it is criminal that the global community tolerates Israel bombing their neighbors. Is the USA really allowing their threats thinking it will help the negotiation process with Iran? Crazy.

And is it criminal that Israel's neighbors are allowed to tolerate/harbor/encourage those that Israel defends itself from?

The global community is always going after Israel, yet turns a blind eye toward broken promises.

 

[Auric]

Originally posted by: Common Courtesy

Originally posted by: Auric
Enough with the belligerence already, Israel. Oy vey!

Seriously, it is criminal that the global community tolerates Israel bombing their neighbors. Is the USA really allowing their threats thinking it will help the negotiation process with Iran? Crazy.

And is it criminal that Israel's neighbors are allowed to tolerate/harbor/encourage those that Israel defends itself from?

The global community is always going after Israel, yet turns a blind eye toward broken promises.

It is not constructive to misdirect to such general and unrelated issues from nuclear facilities. Israel has suffered no significant condemnation nor consequences for bombing both Iraq and Syria and are now threatening the same against Iran. To be sure if anyone had bombed Israel's facilities there would be dire consequences for the perpetrator. Double standard.

 

[blackangst1]

Originally posted by: Engineer
Oil just went from -$1.xx per barrel to +$4.xx per barrel ($128.xx) on news of Iran's nuclear program and comments from Israel. Seems high oil prices just can't seem to go away right now. While they are down from their high, they seem to have found a floor (for now) and is running between a range right now. Any geopoliticial news seems to drive it crazy.

And what makes you think one has to do with the other?

 

[Engineer]

Originally posted by: blackangst1

Originally posted by: Engineer
Oil just went from -$1.xx per barrel to +$4.xx per barrel ($128.xx) on news of Iran's nuclear program and comments from Israel. Seems high oil prices just can't seem to go away right now. While they are down from their high, they seem to have found a floor (for now) and is running between a range right now. Any geopoliticial news seems to drive it crazy.

And what makes you think one has to do with the other?

Do you mean oil prices and geopolitical news? Or Irans/Israel conflict and oil? Literally dozens of analysts on CNBC and other financial sites say so. I'm just reporting what they are stating when the prices shift (both ways).

 

[Vic]

It's a first Friday and the rally didn't make into the afternoon. Looks like oil closed up just over a dollar. Anyone still long on oil is going to get hosed.

 

[blackangst1]

Originally posted by: Engineer

Originally posted by: blackangst1

Originally posted by: Engineer
Oil just went from -$1.xx per barrel to +$4.xx per barrel ($128.xx) on news of Iran's nuclear program and comments from Israel. Seems high oil prices just can't seem to go away right now. While they are down from their high, they seem to have found a floor (for now) and is running between a range right now. Any geopoliticial news seems to drive it crazy.

And what makes you think one has to do with the other?

Do you mean oil prices and geopolitical news? Or Irans/Israel conflict and oil? Literally dozens of analysts on CNBC and other financial sites say so. I'm just reporting what they are stating when the prices shift (both ways).

I meant Isreal's comments. I dunno but common sense tells me it's anecdotal, and so what who says so? Doesnt make them right. Not trying to argue, just saying alot of things happened globally and any number of them *could* be blamed.

 

[Engineer]

Originally posted by: Vic
It's a first Friday and the rally didn't make into the afternoon. Looks like oil closed up just over a dollar. Anyone still long on oil is going to get hosed.

I noticed that also. Looks like the new term (at least to me) "Demand Destruction" is still kicking oil in the ass.

 

[Engineer]

Originally posted by: blackangst1

I meant Isreal's comments. I dunno but common sense tells me it's anecdotal, and so what who says so? Doesnt make them right. Not trying to argue, just saying alot of things happened globally and any number of them *could* be blamed.

I was watching CNBC live and watched oil soar (was down $1.00) to up $4.00 right after the comments were made. Oil faded later in the day. For whatever reason, traders want something to ride it up on...but the follow through is just not there.

 

[EagleKeeper]

Originally posted by: Auric

Originally posted by: Common Courtesy

Originally posted by: Auric
Enough with the belligerence already, Israel. Oy vey!

Seriously, it is criminal that the global community tolerates Israel bombing their neighbors. Is the USA really allowing their threats thinking it will help the negotiation process with Iran? Crazy.

And is it criminal that Israel's neighbors are allowed to tolerate/harbor/encourage those that Israel defends itself from?

The global community is always going after Israel, yet turns a blind eye toward broken promises.

It is not constructive to misdirect to such general and unrelated issues from nuclear facilities. Israel has suffered no significant condemnation nor consequences for bombing both Iraq and Syria and are now threatening the same against Iran. To be sure if anyone had bombed Israel's facilities there would be dire consequences for the perpetrator. Double standard.

Both neighbors were still at war with Isreal at the time of Israeal launching the attack.
Both neighbors were attempting to obtain nuke weapons.
Both neighbors had worked with attacking Isreal prior to and afterwards.
Both neighbors supported attacks by proxie against Isreal.

Iran is still in a declared hostile state, supports attacks by proxie and may be working towrad nukes. Their leadership has stated that the Zionist regime must go - you can interpret those words to be leaving on their own or by force. Given the track record of the Arab/Muslim world, he wants to imply by force. He has been called on this many times and refuses to clarify his words. The political leadership behind him also remains silent on his choice of words - implying a tact approval.

The condemation that you seek did not happen because Isreal had the intelligence and proof to back up what they did.
Syria did a mild protest, yet refused to let anyone from the oiutside investigate until everything was cleaned up.

Isreal does not go around threatening to erase a country and/or support militants within and outside their borders in an attempt to destroy from their opponent.


Isreal's safety to them is worth the pain of extra costs. They know the world will not protect them; the US is fickle and sways with the political winds; Europe has demonstrated previously to be two faced; Russia has always sided with their enemies, etc.

 

[Auric]

The USA has always backed Israel even against UN sanctions. It is a twisted relationship whereby so-called foreign aid must be spent on US military equipment. So that is not going to end for obvious reasons. Likewise needless to say, there is also a significant number of Jews in the US governement whereas there are virtually no Arabs, Persians, nor Muslims.

All the points favouring Israel are based upon an imaginary claim just because some people say so. If we want to look at it historically then, even their own scripture says they invaded and committed genocide against the inhabitants of the region. By various means their supposed decendants have recently reconquered and we are to believe that "might makes right" for them but not their opposition. We justify it saying they are democratic and an essential bulwark against the e-vil forces of Islam. Yet that is sophistry and double-think since it is precisely the existence of Israel that causes the conflict. Madness.

 

[dmcowen674]

8-3-3008OIL DROP BRINGS NO RELIEF TO THE PUMP

Motorists who have watched the price of crude oil drop 15 percent in the past three weeks while the average price at the pump has come down just 3 percent are getting drilled, two leading energy analysts claim.

Jeff Lenard, a spokesman for the National Association of Convenience Stores, whose members own 2,200 gas stations, admitted that some of his members are slow to drop pump prices as oil prices fall.

"The chart and data we gathered absolutely proves that as oil goes up gas rises at a faster rate, and as oil goes down gas falls at a slower rate," says Gerry Mastrianni, managing director of the Florida-based trading firm. "The reason is price gouging at the pump."

 

[blackangst1]

Originally posted by: dmcowen674
8-3-3008OIL DROP BRINGS NO RELIEF TO THE PUMP

Motorists who have watched the price of crude oil drop 15 percent in the past three weeks while the average price at the pump has come down just 3 percent are getting drilled, two leading energy analysts claim.

Jeff Lenard, a spokesman for the National Association of Convenience Stores, whose members own 2,200 gas stations, admitted that some of his members are slow to drop pump prices as oil prices fall.

"The chart and data we gathered absolutely proves that as oil goes up gas rises at a faster rate, and as oil goes down gas falls at a slower rate," says Gerry Mastrianni, managing director of the Florida-based trading firm. "The reason is price gouging at the pump."

So I guess in step with your twisted thinking you think this is due to Bush's or *cough* oil barons doing? lol

 

[Slew Foot]

4.50 at the peak down to 4 now in my neck of the woods.

 

[quest55720]

Gas went up to 4.03 a gallon and last time I filled up this week I paid 3.59. I would say that is a very fair price drop compared to the price of oil.

 

[StageLeft]

Originally posted by: quest55720
Gas went up to 4.03 a gallon and last time I filled up this week I paid 3.59. I would say that is a very fair price drop compared to the price of oil.

I wouldn't. In fact, around here at least, I concur with that article. I don't have the numbers but I have a very strong suspicion from personal observation of oil every day that as it skyrocketed up gas continued to go up. I know that gas here at one station on a popular corner hit $4.29 for 87 grade when oil was in the high 130's. As oil went up to 147, this station never went above $4.29, but now it's at something like $4.15--and it got that way a while ago, probably when oil was maybe 130. It really seems there is a disparity here.

I find it VERY plausible that there is an unspoken "I won't drop mine, you don't drop yours" going on with gas. Especially since I saw one gas station a few days ago at $3.99--that one at $4.15, why is it doing that? I don't think it's just the brand or the corner; I think this is out of whack and at the moment some stations are making a lot of profit per gallon.

 

[BoberFett]

Duhmcowen

When someone cuts their living expenses at home, do they have to tell their employer to start paying them less?

Things cost what they cost. Don't like it, don't buy it.

 

[dmcowen674]

Oil below $120 for first time since May 1st.

 

[CADsortaGUY]

Originally posted by: dmcowen674
Oil fell 15%, only 3% passed on to consumers

As shown in the other thread - that is BS.