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by df1:
Various countries including iran have proposed an oil bourse based on euros instead of dollars and this is a direct threat to both the oil giants and the federal reserve system so I do not see the difference which you see. Imho most of the military action in the ME is to protect the interest of these two groups.
Exxon Last Trade: 68.37 Div & Yield: 1.28 (1.90%)
finance.yahoo.com...
Chevron Last Trade: 65.50 Div & Yield: 2.08 (3.20%)
finance.yahoo.com...
Originally posted by zappafan1
REPLY: That still does not go against the fact that 12 cents per dollar invested is not a great amount.
People see that high dolar amount per barrel, yet have no clue as to the tens of thousands of products made from it, or it's derivatives...... which we most certainly cannot do without.
Drilling one hole (off-shore) to 13,000 feet costs up to One million per week, and it's only an 85% certainty they will hit reserves the first time.... even with the newest technology.
REPLY: ...... and screw all the investors, many of whom are middle class grandma's and grandpa's??? Governmental control of ANYTHING is a big mistake, as has been obvious for decades.
REPLY: Incorrect. If companies can make a profit from it, awhich creates more jobs in the process, they will develo the technology.
Literally billions has been spent since the 1970's in alternative evergy sources, and has resulted in hundreds of advances.
Because of those investments, solar technology (panels) has an efficiency of 12% to 17%. That's still not much, and most of the energy produced, because of low amperage, would be lost in it's transmission over long distances.
Hydrogen is not the answer, because even with all the investment, no efficient storge container has been developed, and it still takes more energy to produce than the net energy gained.
Actually, one has only to look at the Periodic table to see that efficient storage may never be attained, because the Hydrogen molecule is smaller than all others, so how do you "contain" it? You could fill the tank, let the vehicle sit unused for a couple of days, and lose half the contents.
Ethanol isn't the answer, either, since we have to import most of what we now use. Have you checked the price of E-85? Importation is the reason.
REPLY: You still have to balance that with their expenditures.
The oil companies buy the oil, pay people to load their tankers, bring it from (avg) 3000 miles away in ships that burn 50 gallons of fuel every 200 yards; then pay people to unload it at the storage depots; then pipe it to refineries (more wages), then process it (more wages) and store it again. Then it's put in tankers and delivered to other storage facilities around the country, then delivered to the gas stations.
Every step of the way people profit, which raises the price. Then you have the 13+ different (rediculous) "designer blends" which has completely ruined our national delivery system, which again drives up the prices. They've done a remarkable job at keeping the prices as low as they are.
Even Hybrid cars use more energy in their lifetime (from design to construction to upkeep to disposal) than does a Hummer, so they're not the answer, either.
For the oil companies, people see them as evil for a quaterly profit margin under 10%. Microsoft, on the other hand, posts 31% profit, which is about 13 billion based on revenue. That is significantly more than the oil companies' profits.
Source Link
Warren Buffett, the world's second richest man, has pledged $30.7bn of his $44bn fortune to the Bill and Melinda Gates Foundation.
They were profitable when the oil price was in the 20 dollar range ( and lower) and you must think me -and the rest- quite ignorant to keep repeating this '12 cent profit on the dollar' when it's such a blatent lie considering even recent history.
You would be surprised to realise what we can do without had we realised the possibility. Does it really matter how many other things we use it for when that profit is the profit per barrel figure?
That may have been the case in the 1940's but these days far fewer people are invested in the stock market.
They will not as has been said by many many ( nd some of the brightest economist) who admit that class interest normally comes before profit for big business.
The hundreds of 'advances' have in fact apparently led to a decline in the standerd of living for Americans so what have they in fact contributed? The advances that could have revolutionzed energy production have been completely suppressed and have never reached the market place.
So not very usefull for anyone but the rather well off who can pay the rather high installation cost.
Actually you can ask Bob Lazar ( and many others ) about just how effecient it can be with just a little intelligence applied. You can for instance use solar power to produce your own hydrogen in your garden ( as his been doing for decades) so the figures you are quoting are just more lies and propaganda from oil barrons and our friendly politicians.
I can't believe you will talk about something you know so little about (Hydrogen storage issues).
It's a bogus argument as all these people could still get their cut from 10 dollars per barrel not a decade ago.
O christ, I forgot again that everyone is a sellout and doesn't give a sht about the earth because they would rather get rich.
Originally posted by zappafan1
by StellarX:
REPLY: Over the past 25 years, oil companies directly paid or remitted more than $2.2 trillion in taxes, after adjusting for inflation, to federal and state governments—including excise taxes, royalty payments and state and federal corporate income taxes.
over the past 25 years, oil companies directly paid or remitted more than $2.2 trillion in taxes, after adjusting for inflation, to federal and state governments—including excise taxes, royalty payments and state and federal corporate income taxes.
www.taxfoundation.org...
These figures do not include local property taxes, state sales and severance taxes and on-shore royalty payments.
That amounts to more than three times what they earned in profits during the same period, according to the latest numbers from the Bureau of Economic Analysis and U.S. Department of Energy.
These figures do not include local property taxes, state sales and severance taxes and on-shore royalty payments.
That amounts to more than three times what they earned in profits during the same period, according to the latest numbers from the Bureau of Economic Analysis and U.S. Department of Energy.
www.taxfoundation.org...
REPLY: 80% of the things in your house, and part of the house, would fall apart without the adhesives derived from Crude oil. I brought up the other oil products because many forget that those are included in the price of a barrel of oil.
REPLY: Not true at all. Currently about 55% of seniors are invested in the market in one form or another. Also, college age adults are investing more so than at any other time. This holds true because of the increase of companies who have 401-K's. True, it does fluctuate, but there is an increase.
REPLY: Don't you think that the shareholders, who have a say in such matters, would scream bloody murder if the Corp. didn't maximize profits?
REPLY: Technological advances cause a decline in stansard of living?? I'd be interested is seeing info on this, and on the technology(ies) you are referring to.
REPLY: I'm just saying that the investments made during the past 35 years has made possible the efficiency rates shown. However, I'm invested in a Corp. that will greatlt increase those efficiency numbers.
REPLY: Sorry... I don't get my info from either source.
True, the solar/hydrogen issue works, but only on a very small scale.
Trying to build a nationwide infrastructure on those principles won't work very well; not with current solar efficiencies.
REPLY: My information about Hydrogen storage comes from two people at MIT.
MIT's Lincoln Laboratories' work leans much more heavily towards basic research rather than procurement and deployment. Lincoln Labs may be better buffered from any cuts in military funding because of its close association to the academic world and fundamental research. Nevertheless, Walter I. Wells, assistant to the director of Lincoln Labs, admitted, "In the long run we are somewhat apprehensive."
In the 1989 fiscal year, 16.8 percent of MIT's funding, excluding Lincoln Labs, came from the Department of Defense. However, including Lincoln, the Department of Defense accounted for 59.4 percent of total research funding.
www-tech.mit.edu...
REPLY: Hmmmm You're telling me the costs of labor, new technology and materials hasn't gone up in a decade?
In general, crude oil accounts for roughly half of gasoline's price, as shown in the graphic. Other price components include refining, distribution (pipelines and tanker trucks) and marketing (service stations and convenience stores). These so-called "downstream" costs have been falling as companies have made operations more efficient. When gasoline reaches the pump, another major factor comes into play – federal, state and local taxes, which average about 20 percent or more of the pump price. The federal tax is 18.4 cents per gallon, while state and local taxes vary from 8 cents in Alaska to nearly 50 cents per gallon in New York.
www.conocophillips.com...
A multitude of factors can affect an individual oil company's profit on gasoline sales. However, in general, if gasoline is selling at about $3 a gallon, major companies make a profit of about 10 cents a gallon on their U.S. refining and marketing operations based on data gathered by the Energy Information Administration (EIA).
www.conocophillips.com...