I love pumping premium!!!

[Rob]

think about our parents, they could drive from Boston to Charlotte for $10, and that includes lunch.

[uflnuceng]

Welp... its Tuesday which means fill up for me... about $42 at $2.93/gallon for premium... still beats the $6.98/gallon for regular my family pays in England.

However, I would like to recant my statements made in a previous post (F$!&# Gas Prices)... after doing some more research and listening to my man Bill O'Reilley, and a co-worker of mine who use to work at a refinery, it appears that the gas companies are gouging us at the pump. All this time I thought the cost of gas due to refineries was just and it turns out that by selling waste products for asphalt, petroluem jelly, and a whole slew of additional stuff that the refineries more than recoupe their cost of operation before the gas taht we use ever gets to the pump... so that means the gas companies are taking us for about $1.50/gallon at the pump. That is not right. US cars are the lowest users of gas, the largest being construction equipment, trains, and air planes. The guy whom I work with who use to work at a refinery said that only about 4-5% of their refined product went out the door for gas stations. Add to that the insult that most of these companies are foreign owned at that is a lot of American money leaving our country, never to return.

Now I am not going to start complaining about the cost of gas, but I am going to start to bitch about unethical business practices. Making $40+billion (that's with a b) in profit in the first quarter is not cool in my book... especially when that is more than triple what you made any other year. I'm actually willing to bet that the gas companies don't want to even consider building more refineries in order to keep this farse going.

Maybe we could start that whole ethanol craze they got down in Brazil... we just need to find a way to get those kind of engines to fire up in colder weather.

Anyway, in short... I want to apologize for my ignorance... it can happen from time to time.:loco:

[RCWells]

Welp... its Tuesday which means fill up for me... about $42 at $2.93/gallon for premium... still beats the $6.98/gallon for regular my family pays in England.

However, I would like to recant my statements made in a previous post (F$!&# Gas Prices)... after doing some more research and listening to my man Bill O'Reilley, and a co-worker of mine who use to work at a refinery, it appears that the gas companies are gouging us at the pump. All this time I thought the cost of gas due to refineries was just and it turns out that by selling waste products for asphalt, petroluem jelly, and a whole slew of additional stuff that the refineries more than recoupe their cost of operation before the gas taht we use ever gets to the pump... so that means the gas companies are taking us for about $1.50/gallon at the pump. That is not right. US cars are the lowest users of gas, the largest being construction equipment, trains, and air planes. The guy whom I work with who use to work at a refinery said that only about 4-5% of their refined product went out the door for gas stations. Add to that the insult that most of these companies are foreign owned at that is a lot of American money leaving our country, never to return.

Now I am not going to start complaining about the cost of gas, but I am going to start to bitch about unethical business practices. Making $40+billion (that's with a b) in profit in the first quarter is not cool in my book... especially when that is more than triple what you made any other year. I'm actually willing to bet that the gas companies don't want to even consider building more refineries in order to keep this farse going.

Maybe we could start that whole ethanol craze they got down in Brazil... we just need to find a way to get those kind of engines to fire up in colder weather.

Anyway, in short... I want to apologize for my ignorance... it can happen from time to time.:loco:

Bastards!

[King Luis]

i have noticed that the price for a barrel of oil has not changed that much for has to go up that much...we should still be paying 80cents a litre (you do the conversion) cause when the barrel price was at $50 the gas price was around 70cents a litre and now that it went up $10-$15 the price at the pump jumps 40+cents? come on....in ontario we've been having a lot of price gouging. a place down in london area had the price above $2 a litre. we ended up losing his job because of it.
action by the government needs to be taken.

[Dave]

Filled up the Lexus the other day - $56.00 for 93 octane. Next day, filled up my wife's Sienna - $52.00 for 87 octane.

Ouch!

[SchnellerVert]

You should quit bitching. M42 owners are stuck with 91 from the get-go. ;)

Just buy a can of boost and mix it ends up being cheaper.

$3.39 for premium and it's going up next weekend. A big travel weekend for leaf peepers...Autumn is here.

[SchnellerVert]

Welp... its Tuesday which means fill up for me... about $42 at $2.93/gallon for premium... still beats the $6.98/gallon for regular my family pays in England.

Now I am not going to start complaining about the cost of gas, but I am going to start to bitch about unethical business practices. Making $40+billion (that's with a b) in profit in the first quarter is not cool in my book... especially when that is more than triple what you made any other year. I'm actually willing to bet that the gas companies don't want to even consider building more refineries in order to keep this farse going.

Your parents pay thru the nose for fuel due to taxes, That's where the money for the health car comes from.

Though I don't care for the tactics of street blockades, I'll support anyone willing to argue against high taxes. The fact is, fuel taxes in the U.K. and Europe are punitively high. According to a Sept. 11th editorial in Investor's Business Daily, entitled "The French are Onto Something", taxes comprise $2.82 of the $4.07 gallon in France, $2.56 of the $3.91 gallon in Germany, and $2.53 of the $3.97 gallon of fuel in Italy. In the U.S., fuel taxes comprise about 39 cents of the average $1.64 gallon of gas. (Still too high, but in Europe, it's really ridiculous!)

Last week an acquaintance in England sent me this shocking note: "Part of the tax is pegged to price, so an increase in fuel prices raises the tax. Prices are now some 90 pence per liter, over $6.00 per gallon, with $5.00 of that tax. The average Brit pays over $100 a week to run his car, and some $80 of it goes to the government."

per http://www.capmag.com/article.asp?ID=662

Now for Fuel companies makking 40B in a quarter, That's probably true if you added all the foreign ones too.

Exxon/Mobile the largest conglomeration made 7.64B in second quarter earnings.

Exxon profit $7.64 billion in 2nd quarter



Knight Ridder - Thursday, July 28, 2005

The Dallas Morning News

By Sudeep Reddy

DALLAS _ A surging oil market and rising prices at gas pumps sent Exxon Mobil Corp.'s second-quarter profit soaring to $7.64 billion.

But the Irving, Texas-based oil giant again worried Wall Street as a decline in oil and gas production underscored concerns that the largest oil companies are struggling to raise their output in the face of declining prospects.

Despite a 32 percent increase in profit, the world's largest publicly traded oil company said its oil and gas output fell 4.3 percent in the second quarter as new projects in West Africa and the Middle East only partially offset declines in maturing oil and gas fields.

"At $50 a barrel, oil companies are not making money, they're printing it," said Fadel Gheit, an analyst at Oppenheimer & Co. "But it's a double-edged sword. Higher oil prices make it much more difficult to find attractive investment opportunities."

Crude oil topped $60 a barrel in the second quarter for the first time, averaging about 40 percent higher than the year-earlier period.

Exxon Mobil's profit was a record second-quarter take, up from $5.79 billion a year earlier. Quarterly revenue was $88.57 billion, up 25 percent from the previous year.

The company took a $200 million charge to account for a lawsuit by gas station owners. Excluding that item, earnings were $7.84 billion, or $1.23 a share, up from 88 cents a share.

That was still shy of its first-quarter profit of $7.86 billion, and $8.42 billion in the last three months of 2004, a record operating profit for a U.S. corporation.

Analysts on average had projected earnings of $1.24 a share, according to Thomson Financial.

A refining industry stretched nearly to the limit helped extend strong profit margins during the quarter. Exxon Mobil's refining and marketing unit _ selling gasoline and other fuels _ returned $2.22 billion, up $714 million from the previous year.

Chemicals earnings increased $207 million to $814 million. Profit from oil exploration and production were up $1.06 billion to $4.91 billion.

So far, record profits at most oil and gas firms have masked some worries about production growth.

Exxon Mobil shares, which have risen 30 percent in the last year, rose 40 cents Thursday to $60.

The company increased its spending on capital and exploration projects during the quarter by $920 million to $4.54 billion.

Instead of turning to acquisitions, Exxon Mobil has used much of its soaring profit to buy back shares.

Exxon Mobil said it plans to spend $5 billion in the third quarter to reduce its common stock, up from $3.5 billion in the second quarter and $2.5 billion in the first three months of the year.

"Fans of huge share buybacks will cheer today's announcement," Credit Suisse First Boston analyst Mark Flannery said in a note to clients. "Those looking for progress on production growth will be less happy."

Exxon Mobil maintains that oil and gas production will rise over the long term, but it won't trade profits for output growth.

Despite its "windfall profit," said Gheit of Oppenheimer, Exxon Mobil would be better positioned to compete with other firms and find new opportunities with oil at $30 instead of $60.

The company's efficient operations and disciplined style keep it in a strong long-term position despite its growth challenges.

"Right now, if you don't have record earnings, there's something wrong with you," Gheit said. "When you have a very simple test, every idiot can pass. But when it's a really hard test ... it's much easier for Exxon to excel."

[uflnuceng]

Your parents pay thru the nose for fuel due to taxes, That's where the money for the health car comes from.

Don't have parents, just a mother... and I'm 28 so I have been paying for my own gas for quite some time now.

I don't think a company can honestly say that they are "hurting" and making record profits at the same time... don't know if someone wants to correct me or back me up on this one.

[SchnellerVert]

Oh don't get me wrong they are screwing the American economy into the crapper. There is no justification to be doing this except that all your politicians, at least most have a stake in oil. It's a win win situation. If you own stock in a major Oil company you will not loose money on it over the duration of owning it.

They really don't care period. The number of late CC payments increased last month by 23%. This is very much like the begining of the 1977 thru 1980 slide we had. It was not good, my Mom's interst rate for her home hit 16% due to being a variable. Just think of all those Card companies out there with a legal loan sharking business. They can charge you what ever rate they want if you don't make your payments on time to include your other cards too.

[Bokes]

i remember when i could fill up my m10 318i for $15 and last 2 weeks :(

[golde30]

yah, we are getting shafted. old news i suppose. i cant beleive this thread got 3 pages like overnite. hahaha

[BahnE30]

cost me 62.00 to fill up the e30, that was 87 regular, fucken 1.28 a litre, you do the math, me thinks it's almost 4 bucks a gallon, could be wrong really just guessing thou.

[nando]

think about our parents, they could drive from Boston to Charlotte for $10, and that includes lunch.

they also made like $2/hr...

I paid $3.08 for premium yesteday. meh.. I guess I don't really care. I was expecting gas prices to go up a long time ago so maybe I was better phsycologically prepared than others. I'll be amazed if it doesn't hit $4/gallon next year. and gas is still cheap in america compared to other places so we really have no reason to bitch..

[Mystikal]

Haha, I wish it cost me $48usd to fill my tank. Flirted with $70usd for a bit there, around $56 for the past few weeks.

Not like I drive any less.

[hamann318is]

Then you guys have no reason to NOT chip your cars ;)

Exact reason I have the 93 octane MarkD. Might as well, but Ryan is right. It's a slow mofo.