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#951234 - 04/29/08 02:10 PM
Re: BP, Shell Gain After Posting Record Profit
Imagine
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10K Club
Joined: Dec 2002
Posts: 40,766
Turnpike Exit 10
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$63.00
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Get your facts first, then you can distort them as you please. - Mark Twain
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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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Joined: Jul 2004
Posts: 18,989
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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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With the lights out, it's less dangerous.
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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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Joined: Jul 2004
Posts: 18,989
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ARGH!!!
(since my last post sounded rather pirate-esque)
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With the lights out, it's less dangerous.
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#951255 - 04/29/08 02:21 PM
Re: BP, Shell Gain After Posting Record Profit
Imagine
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Diamond Poster
Joined: Jan 2006
Posts: 2,121
Wherever the plane lands
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$86. My Bimmer is not a happy girl if I don't put Premium in her.
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My silence doesn't mean that I agree with you. It's just that your level of ignorance has rendered me speechless.
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#951256 - 04/29/08 02:22 PM
Re: BP, Shell Gain After Posting Record Profit
A_G
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Joined: Jul 2006
Posts: 12,579
Not prison
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ARGH!!!
(since my last post sounded rather pirate-esque) this post made me giggle....
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I shall call you Thunder Twonk. ~TfD
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#951268 - 04/29/08 02:28 PM
Re: BP, Shell Gain After Posting Record Profit
B_F
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Joined: Nov 2003
Posts: 12,846
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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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Joined: Aug 2002
Posts: 34,318
under the Lone Star
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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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Societies that do not find work in and of itself "pleasing to God and requisite to Man," tend to be highly corrupt.
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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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Joined: Oct 2006
Posts: 14,390
Cheeseheadland
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Fiiled up this morning at $3.80 a gallon for $65.
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I don't repeat gossip, so listen closely...
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#951623 - 04/29/08 07:44 PM
Re: BP, Shell Gain After Posting Record Profit
Imagine
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Platinum Poster
Joined: Sep 2005
Posts: 923
Kansas City
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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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Power Poster
Joined: May 2007
Posts: 4,195
Basking in the Cool Weather
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its frightening to see such rational posting in the cooler.... SOMEBODY GET A MODERATOR!!!!!
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I'll be in the hospital bar. Uh, you know there isn't a hospital bar, Mother. Well, this is why people hate hospitals.
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#951636 - 04/29/08 07:54 PM
Re: BP, Shell Gain After Posting Record Profit
doobydoobydoo
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10K Club
Joined: Jun 2004
Posts: 19,844
Pulling people out of the ditc...
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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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Providing alternative truths since the invention of time
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#951672 - 04/29/08 08:16 PM
Re: BP, Shell Gain After Posting Record Profit
HappyGilmore
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10K Club
Joined: Aug 2002
Posts: 34,318
under the Lone Star
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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!!!!!!!!!!
_________________________
Societies that do not find work in and of itself "pleasing to God and requisite to Man," tend to be highly corrupt.
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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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Joined: Jun 2004
Posts: 19,844
Pulling people out of the ditc...
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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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Providing alternative truths since the invention of time
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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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Power Poster
Joined: Nov 2003
Posts: 3,020
Land of Enchantment
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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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You need an attitude adjustment ---- let me get my tools!
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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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10K Club
Joined: Jun 2004
Posts: 19,844
Pulling people out of the ditc...
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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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Providing alternative truths since the invention of time
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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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Power Poster
Joined: Nov 2004
Posts: 5,925
So Cal
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Courtesy of Neal Boortz . . .
... dumb masses ... hee hee!
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I've just writed a wrong.
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#951736 - 04/29/08 09:00 PM
Re: BP, Shell Gain After Posting Record Profit
GuitarDude
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Joined: Jul 2002
Posts: 13,994
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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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blah
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#951740 - 04/29/08 09:03 PM
Re: BP, Shell Gain After Posting Record Profit
KC Danimal
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Power Poster
Joined: Oct 2000
Posts: 5,991
Soaring over Georgia
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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."
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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Jim Bedsole, CRCM, CBA, CFSA, CAFP My posts - my opinions
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#951743 - 04/29/08 09:07 PM
Re: BP, Shell Gain After Posting Record Profit
RVFlyboy
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10K Club
Joined: May 2004
Posts: 10,124
Way, way south.
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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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Giddy up.
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#951748 - 04/29/08 09:12 PM
Re: BP, Shell Gain After Posting Record Profit
RVFlyboy
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Joined: Jun 2004
Posts: 19,844
Pulling people out of the ditc...
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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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Providing alternative truths since the invention of time
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