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#951227 - 04/29/08 02:06 PM BP, Shell Gain After Posting Record Profit
Imagine Offline
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Quote:
April 29 (Bloomberg) -- BP Plc rose the most in eight years and Royal Dutch Shell Plc had its biggest gain since 2005 after the oil companies reported $100 crude prices led to better profits than analysts estimated.

BP surged as much as 6 percent in London trading after Europe's second-biggest oil company posted a 63 percent jump in first-quarter net income to $7.62 billion. Shell A shares in London also climbed 6 percent as Europe's biggest oil producer said profit gained 25 percent to $9.08 billion...ConocoPhillips, the third-largest U.S. oil company, said April 24 that first-quarter profit rose 17 percent to $4.14 billion as crude and gas prices gained. Exxon Mobil Corp., the world's biggest oil company, reports earnings on May 1, with U.S. No. 2 Chevron Corp. a day later.

http://www.bloomberg.com/apps/news?pid=20601085&sid=a.dc7LpFWnek&refer=europe

And how much money did you spend on your last fill up?

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#951234 - 04/29/08 02:10 PM Re: BP, Shell Gain After Posting Record Profit Imagine
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$63.00
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#951237 - 04/29/08 02:11 PM Re: BP, Shell Gain After Posting Record Profit Retired DQ
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I filled up for more than $50 the first time ever yesterday!!!

(I usually don't let me car get that low)
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#951239 - 04/29/08 02:12 PM Re: BP, Shell Gain After Posting Record Profit A_G
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ARGH!!!

(since my last post sounded rather pirate-esque)
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#951248 - 04/29/08 02:17 PM Re: BP, Shell Gain After Posting Record Profit A_G
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One wonders if the same people who own the oil companies are trading in oil futures?

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#951249 - 04/29/08 02:17 PM Re: BP, Shell Gain After Posting Record Profit A_G
Imagine Offline
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$39.00 on somewhere between 3/4 and 1/2 a tank.

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#951255 - 04/29/08 02:21 PM Re: BP, Shell Gain After Posting Record Profit Imagine
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$86. My Bimmer is not a happy girl if I don't put Premium in her.
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#951256 - 04/29/08 02:22 PM Re: BP, Shell Gain After Posting Record Profit A_G
kitten Offline
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Originally Posted By: AuditGuy
ARGH!!!

(since my last post sounded rather pirate-esque)


this post made me giggle....
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#951268 - 04/29/08 02:28 PM Re: BP, Shell Gain After Posting Record Profit B_F
Jokerman Offline
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Originally Posted By: Bengalsfan
One wonders if the same people who own the oil companies are trading in oil futures?

Maybe they invented a perpetual motion machine, too.

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#951306 - 04/29/08 02:49 PM Re: BP, Shell Gain After Posting Record Profit Jokerman
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under the Lone Star
we are sucking the oil out of the ground super fast down here, now everyone has a dang natural gas well too being drilled - who would have thunk it?
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#951317 - 04/29/08 02:55 PM Re: BP, Shell Gain After Posting Record Profit Pale Rider
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Heard a story yesterday about Kansas producing oil like mad and basically having a reverse economic effect...home prices up etc. Basically a result of the price per bbl. It wasn't worth it to produce previously since they only pull about 2,000 bbls/day which is about 1/100th of Saudi production. Now with the price so high it's worth it to produce.

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#951320 - 04/29/08 02:57 PM Re: BP, Shell Gain After Posting Record Profit Comp Guy No More
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Fiiled up this morning at $3.80 a gallon for $65.
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#951623 - 04/29/08 07:44 PM Re: BP, Shell Gain After Posting Record Profit Imagine
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Courtesy of Neal Boortz . . .

"The political hacks made a big deal about the huge profits these oil companies made over the past few years. All of this posturing was a sham .. and the politicians knew it. They also knew that most of the people would watch them deliver their big oil smack down on TV wouldn't know a profit from a profit margin if their next six-pack and their big screen TVs depended on it.

So ... just a quick remedial course if you will.

Let's say you sell widgets. It costs you 92 cents to make a widget, and you sell the widget for a dollar. You make eight cents on the sale of that widget. Your profit is eight cents – your profit margin is 8%. Now, let's say that your cost of business, comprised mostly of raw materials, goes up. Now it costs you $1.84 to make a widget. You respond by raising the price of your widgets by a dollar. They now cost $2.00 each. Subtract your cost of doing business ($1.84) from sales revenues for one widget ($2.00) and you have a profit of 16 cents. Wow! Your profit has doubled! But wait! What is your profit margin? How much is your company making for every widget it sells? Nothing has changed. Your profit margin is still 8%. Profits have doubled .. the profit margin has remained the same. The only reason the profits doubled is that the price of your raw materials has gone up. Has anyone looked at the price of crude oil lately?

Last year the big five oil companies made around $123 billion in profits. Pretty strong. But what was their profit margin? Around 9%. Same as the year before and the year before that. The politicians can't pander to the dumb masses by slamming profit margins ... so they play the dishonest game of slamming the gross profits, and the media lets them skate. They start talking about "windfall" profits. Tell me ... how is it a windfall profit when the profit margin is remaining effectively the same? Some windfall."
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#951626 - 04/29/08 07:49 PM Re: BP, Shell Gain After Posting Record Profit KC Danimal
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its frightening to see such rational posting in the cooler.... SOMEBODY GET A MODERATOR!!!!!
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#951636 - 04/29/08 07:54 PM Re: BP, Shell Gain After Posting Record Profit doobydoobydoo
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Pulling people out of the ditc...
yes, the law of supply and demand is being followed, and companies are making a profit. let's penalize them for following the American dream, and having prudent business sense. those who don't want to pay for the cost of fuel, take the bus or ride a bike, but please, find something worthwhile to do with your time...

(I only wish I followed Mom into the oil business instead of Dad into banking)
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#951672 - 04/29/08 08:16 PM Re: BP, Shell Gain After Posting Record Profit HappyGilmore
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under the Lone Star
Hillary called today for more regulatory oversight because we all need to know what we are paying for gas!!!!!!!!!

pardon me but I can see on the sign what I am paying, I don't need no stinkin' regulator to tell me that!!!!!!!!!!

we need more drilling and more refineries until the alternative fuels make sense!!!!!!!!!!
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#951678 - 04/29/08 08:21 PM Re: BP, Shell Gain After Posting Record Profit Pale Rider
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Pulling people out of the ditc...
I'm going to start buying all my diesel at truck stops. Truckstops don't require you to pay in advance, so I'll fill up my little car and then just drive off without paying. This will save me about $210 a month in gas, allowing me to further "stimulate the economy" (this sounds nasty) .















(okay, I'm just kidding...)
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#951716 - 04/29/08 08:49 PM Re: BP, Shell Gain After Posting Record Profit HappyGilmore
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OK
What I don't get is one day gas will be $3.45 and in a couple of days it's $3.50 and the next day $3.55!!! Now you can't tell me that they depleted the first shipment of gas in a couple of days, had a truck deliver more at a price increase, depleted that supply and had another truck in another day deliver at another price increase! If they pay more for the gas they are selling I can see where they could raise the price, but to raise the price consecutive days is ridiculous. I have even seen one station increase their prices 2 times in one day! Now that is just wrong!

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#951718 - 04/29/08 08:50 PM Re: BP, Shell Gain After Posting Record Profit Pale Rider
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Originally Posted By: Pale Rider
Hillary called today for more regulatory oversight because we all need to know what we are paying for gas!!!!!!!!!

pardon me but I can see on the sign what I am paying, I don't need no stinkin' regulator to tell me that!!!!!!!!!!


Maybe she was referring to The President!
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#951724 - 04/29/08 08:53 PM Re: BP, Shell Gain After Posting Record Profit Queen Mum
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Pulling people out of the ditc...
they are charging you for what it will cost them to buy the next round of gas, not what you are filling up with and paying for today...
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#951733 - 04/29/08 08:57 PM Re: BP, Shell Gain After Posting Record Profit KC Danimal
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Originally Posted By: KC Danimal
Courtesy of Neal Boortz . . .

... dumb masses ...


hee hee!
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#951736 - 04/29/08 09:00 PM Re: BP, Shell Gain After Posting Record Profit GuitarDude
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Well that settles it! I'm going to make my own gas.

Oh yeah, it's Taco Bell night!
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#951740 - 04/29/08 09:03 PM Re: BP, Shell Gain After Posting Record Profit KC Danimal
RVFlyboy Offline
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Soaring over Georgia
Originally Posted By: KC Danimal
Courtesy of Neal Boortz . . .

"The political hacks made a big deal about the huge profits these oil companies made over the past few years. All of this posturing was a sham .. and the politicians knew it. They also knew that most of the people would watch them deliver their big oil smack down on TV wouldn't know a profit from a profit margin if their next six-pack and their big screen TVs depended on it.

So ... just a quick remedial course if you will.

Let's say you sell widgets. It costs you 92 cents to make a widget, and you sell the widget for a dollar. You make eight cents on the sale of that widget. Your profit is eight cents – your profit margin is 8%. Now, let's say that your cost of business, comprised mostly of raw materials, goes up. Now it costs you $1.84 to make a widget. You respond by raising the price of your widgets by a dollar. They now cost $2.00 each. Subtract your cost of doing business ($1.84) from sales revenues for one widget ($2.00) and you have a profit of 16 cents. Wow! Your profit has doubled! But wait! What is your profit margin? How much is your company making for every widget it sells? Nothing has changed. Your profit margin is still 8%. Profits have doubled .. the profit margin has remained the same. The only reason the profits doubled is that the price of your raw materials has gone up. Has anyone looked at the price of crude oil lately?

Last year the big five oil companies made around $123 billion in profits. Pretty strong. But what was their profit margin? Around 9%. Same as the year before and the year before that. The politicians can't pander to the dumb masses by slamming profit margins ... so they play the dishonest game of slamming the gross profits, and the media lets them skate. They start talking about "windfall" profits. Tell me ... how is it a windfall profit when the profit margin is remaining effectively the same? Some windfall."


OK, but if $.08 per widget was enough profit when the materials cost $.92 last year, why isn't .08 per widget still enough profit this year? Why does the company now find it necessary to double their net profit on each widget just to justify maintaining an even profit margin?
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#951743 - 04/29/08 09:07 PM Re: BP, Shell Gain After Posting Record Profit RVFlyboy
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Way, way south.
But, the profit is still .08 on every dollar received, so it is still the same percentage.

A return of .08 on a cost of $1.84 is only a profit margin of 4.3%, a little more than half of the previous percentage return.
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#951748 - 04/29/08 09:12 PM Re: BP, Shell Gain After Posting Record Profit RVFlyboy
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Pulling people out of the ditc...
Quote:
Why does the company now find it necessary to double their net profit on each widget just to justify maintaining an even profit margin?


as long as you don't have to give employees increases every year, this would be a moot point...however, you won't have employees long if you choose not to provide for increases.
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