Nick Badame Refrig. wrote: Sunoco..... Only buy's American and Canadian Crude Oil.
Look it up!
Nick-
Why?? Don't you think we should use foreign oil and save ours?? After all, the price of oil is the same, and that is set by the world market in US dollars and is ~$115 a barrel.
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Boycotting will do nothing but drive UP fuel prices because the competition will be less. Were are the cheapest gas/fuel prices? Yes, at locations where there are multiple stations. Example: At locations where there is a BP and an EXXON, boycott the EXXON and what do you think the BP station does???
Exxon makes 8 cents per gallon of gas sold. State and federal government taxes are an average of 45.9 cents per gallon.
Exxon made 10.8 billion on products they produced and sold. How much did governments make and they've produced NOTHING. Think about it, why deamonize the oil companies and not the government for the price of fuel? How much do you pay in taxes when you buy a gallon of gasoline? Here are some of the highest..
New York - 62.9¢
California - 60¢
Nevada - 51.9¢
Florida - 49.8¢
That is direct profit to big government and they do NOTHING.
* This post was
edited 05/01/08 01:09pm by crashpilot *
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Aridon wrote: They make around 10% or less profit on their sales. A lot of sales = a lot of profit.
You realize the government (federal and state) makes more off a gallon of gas than the oil companies and they don't even have to do anything for it.
Try boycotting them we all know how well they manage OUR money.
Now the big argument will start all over again and again and again?
Do some research like Fox news has. Big oil companies are manipulating refinery production to inflate prices. Have you heard about the mouse that they shut down a whole refinery over or the little fire that shut down a whole refinery. It's always the people that own oil stock that defend the Oil company terrorist activities to boost their pocket book?
A few notes;
1. That is pre-tax profit. The government isn't even done taking their share yet.
2. It's still just a 10% profit. 10% of a billion is a lot bigger number than 10% of a million - simple math. 10% is 10%. Does YOUR company work on a 10% margin?
3. Shutting down of the refineries can go back 100% to our environmental laws. A refinery can only refine so much crude before the fines from "polluting" kick in, and those fines are greater than the lost profit from stopping production. It is technically against the law for them to shut down to avoid paying the fines, so they work around it. Once again the government fixing something that wasn't broken, and they broke it by trying to fix it.
4. Why are we not DEMANDING we start our own oil drilling TODAY? Can someone, anyone, PLEASE explain that to me!
5. I do not own any oil stocks of any kind, and I'm not trying to sell newspapers. Look beyond the headlines to find out whats really going on.
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As for the comment that insinuates share holders of oil stocks are some how evil or treasonist, you may wish to retool your thinking. Anyone that has a 401K, or a company pension, probably holds oil stocks in their portfolio. And this is a majority of the middle class working population. Using the old argument that shrewd investments are tantamount to treason, in order to stir up feelings of class envy, is foolish and myopic.
D&M, this is the saddest reality of all. People reacting emotionally then setting out to intentionally stifle sucess instead of looking to see what the oil companies are doing correctly to have those kinds of earnings in such a difficult market.
Back when I used to work for Tandy Corp., selling computers when they had a separate Business Products division, I was in the employee stock ownership program...boy, do I wish I had had the foresight to trade my Tandy Stocks for Oil stocks then, instead of selling them outright...
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Last year Wal-Mart had $276 billion in sales with $10 billion in profit - 3.6%
Last year Exxon had $272 billion in sales and $40 billion in profit - 14.7%
If there was true competition, some oil company would be willing to make 5% profit in order to increase sales. So it sure looks like price fixing to me. Isn't that illegal?
Bill & Pam, Somewhere, USA
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I don't see how Wal*Mart is a fair comparison. Retail isn't the same as production. They don't have a fraction of the investment to produce the same revenue.
Read the WSJ article on Exxon's earnings announcement. Institutional investors were disappointed that the announced earnings were TOO LOW (as return on investment), and immediately started selling off the stock.
So for the next few days, possible, Exxon-Mobil stock should be a decent buy.
BP has slipped a lot recently, but I am wary of buying in, because the company has some structural problems.
I know it is hard to understand the "too low" part, because the earnings numbers are big. The numbers are big because the sales are big, and the capital investment is big.
Also, a retailer's (e.g. WalMart) earnings are in no way comparable to the earnings of an capital intensive industry like mining or energy extraction. The Bulk of a retailer's net earnings go to stockholders as dividends, with a smaller part held out for reinvestment in business expansion.
For an extractive industry, the bulk of what is reported as net earnings must be reinvested in reserves to replace production (or else the business shrinks). A much smaller portion goes to stock holders as dividends. This difference in structure and accounting practice makes it misleading to compare net earnings of very different businesses.
You have to read the annual reports of the companies you own, to understand the meaning of what media screams out as "profits."
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