Oil above $50

[firemanjj82]

So averaged prices over an entire nation are a less useful statistic than a single data point (your grocery)?

I'm not sure if I follow or if you're not following. Your post stated the change in goods (groceries) for the U.S. city average. My post showed fuel price averages as well.

My post was a response to yours about the average cost of food not changing that much over the national average, even though it's cheaper in one place than another. For example, milk in April of '08 was $3.799/gal. This past April, it shows to be $3.155/gal on-the-go website you shared, but I'm paying almost $2.00, whereas before I was paying $3.50.

So you see? I can't help but think that the reduction of the price of milk in DFW area Walmart's hasn't been in direct correlation with fuel costs. That's just been the most obvious sign I can see of what has changed.

This has to be the most informed person to post on this topic that I read so far. I don't even know where to start TBH. I am not trying to pick on you, but do a little research on taxes. That should upset you and help understand fuel prices. Pay attention to the diesel part of the taxes.

Not sure hero respond to this: with thanks or a witty meme. But since we can't do memes anymore on here, I'll show what my quick research has found.

Exxon Mobil's NET Profits from 2001-2015. On my check stub, net means "after taxes". So I would say that they were doing pretty good on high-priced barrels.

"In 2008, the corporation generated a total net income of 45.2 billion U.S. dollars."

http://www.statista.com/statistics/264120/net-income-of-exxon-mobil-since-2001/

http://money.cnn.com/2009/01/30/news/companies/exxon_earnings/

And on taxes...

http://m.huffpost.com/us/entry/1280253.html

"In fact, in 2009, Exxon Mobil paid no taxes at all to the U.S. federal government on domestic profits of nearly $2.6 billion by legally funneling its profits through wholly-owned subsidiaries in countries like the Cayman Islands and reinvesting earnings overseas. In 2011, Exxon Mobil made $41.1 billion in profits, equal to about $5 million an hour, and spent over $13 million on lobbying efforts. Exxon’s current effective tax rate is 17.6 percent, lower than that for most Americans."

If anything, I would be pretty ****** to see a company I work for not trickle down such profits to the rest of the workforce.

I also made sure Exxon Mobil was a "major" as well.

*And let me be perfectly clear. I'm not against, at all, people making money, or getting their job back, or supporting families, or, heck, making six-figures. I'm all for capitalism and free market. What I'm saying is that I believe there needs to be a medium, like others have said on here already. Something that keeps the economy growing, but not exploding. I'm more of the conservative type and believe that something is not right when you can have a stock market rise and fall so much in such a short time. I don't think it's healthy. Do I want to spend $0.99 for gas? YES! Is that realistic with inflation and such? NO! Shoot, I'll pay $2.50 if that gets guys back to work. I don't want $3.50+ just the same as O&G guys don't want $25/barrel.*

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[firemanjj82]

I recall drought & hay cost sending animals to auction and then the shortage hit.... but I don't recall the truck ordeal, they were flying like hot cakes, especially white work trucks.

Remember "Cash for Clunkers"? A stimulus package to boost auto sales in 2009. The most traded in was the Ford Explorer and the most bought was the Toyota Corolla. I think mpgs and fuel prices played a part in that...

http://news.pickuptrucks.com/2009/01/2008-year-end-t.html

https://en.m.wikipedia.org/wiki/Car_Allowance_Rebate_System

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[firemanjj82]

Understood. But nobody HAS to drive vehicles that gets crappy mpg either, nor pick a spot where they have to commute 70 miles either way.

My point is that corn is also a commodity that they don't set the prices on. And wishing for higher prices at the expense of your neighbors is myopic and plain selfish

fify

(I've always wanted to do that... No offense. Just saw an opportunity. )

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[d_e_smith]

Remember "Cash for Clunkers"? A stimulus package to boost auto sales in 2009. The most traded in was the Ford Explorer and the most bought was the Toyota Corolla. I think mpgs and fuel prices played a part in that...

http://news.pickuptrucks.com/2009/01/2008-year-end-t.html

https://en.m.wikipedia.org/wiki/Car_Allowance_Rebate_System

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Yeah, it's called banks and the auto lenders had to tighten up. Cash for clunkers was a joke mostly fueled by the EPA going into their emissions junk. Here's an excellent quote from that link though:

The Ford F-Series and Chevrolet Silverado continued to occupy the top two sales positions among all cars and trucks -- the same spots they were in last year -- beating the Toyota Camry, Honda Accord and Toyota Corolla, which rounded out the top five. The Dodge Ram finished eighth.

Someone on this thread needs to clear some PM space.

[Tom]

I am not trying to jump on you.....but please look up the profit margin for Exxon Mobil....not the revenue. Exxon and other majors put a lot of people to work and spend a LOT of money all over the world.....I think if you look past the actual number and look at the profit margin you will see that XOM is hanging around at under 10% net profit even through the high prices of the last 5 or so years.....not good at all but these are the classic liberal oil hating hunting hating left wing news reporters rational.

I'm not sure if I follow or if you're not following. Your post stated the change in goods (groceries) for the U.S. city average. My post showed fuel price averages as well.

My post was a response to yours about the average cost of food not changing that much over the national average, even though it's cheaper in one place than another. For example, milk in April of '08 was $3.799/gal. This past April, it shows to be $3.155/gal on-the-go website you shared, but I'm paying almost $2.00, whereas before I was paying $3.50.

So you see? I can't help but think that the reduction of the price of milk in DFW area Walmart's hasn't been in direct correlation with fuel costs. That's just been the most obvious sign I can see of what has changed.

Not sure hero respond to this: with thanks or a witty meme. But since we can't do memes anymore on here, I'll show what my quick research has found.

Exxon Mobil's NET Profits from 2001-2015. On my check stub, net means "after taxes". So I would say that they were doing pretty good on high-priced barrels.

"In 2008, the corporation generated a total net income of 45.2 billion U.S. dollars."

http://www.statista.com/statistics/264120/net-income-of-exxon-mobil-since-2001/

http://money.cnn.com/2009/01/30/news/companies/exxon_earnings/

And on taxes...

http://m.huffpost.com/us/entry/1280253.html

"In fact, in 2009, Exxon Mobil paid no taxes at all to the U.S. federal government on domestic profits of nearly $2.6 billion by legally funneling its profits through wholly-owned subsidiaries in countries like the Cayman Islands and reinvesting earnings overseas. In 2011, Exxon Mobil made $41.1 billion in profits, equal to about $5 million an hour, and spent over $13 million on lobbying efforts. Exxon’s current effective tax rate is 17.6 percent, lower than that for most Americans."

If anything, I would be pretty ****** to see a company I work for not trickle down such profits to the rest of the workforce.

I also made sure Exxon Mobil was a "major" as well.

*And let me be perfectly clear. I'm not against, at all, people making money, or getting their job back, or supporting families, or, heck, making six-figures. I'm all for capitalism and free market. What I'm saying is that I believe there needs to be a medium, like others have said on here already. Something that keeps the economy growing, but not exploding. I'm more of the conservative type and believe that something is not right when you can have a stock market rise and fall so much in such a short time. I don't think it's healthy. Do I want to spend $0.99 for gas? YES! Is that realistic with inflation and such? NO! Shoot, I'll pay $2.50 if that gets guys back to work. I don't want $3.50+ just the same as O&G guys don't want $25/barrel.*

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[Tom]

gasoline consumption per capita has not taken a nose dive....

Yeah, it's called banks and the auto lenders had to tighten up. Cash for clunkers was a joke mostly fueled by the EPA going into their emissions junk. Here's an excellent quote from that link though:





Someone on this thread needs to clear some PM space.

[Captain39]

There are a lot of white collar guys getting laid off too. I know a few people that work in mid-size O&G firms and they have cut over half their payroll. Not just blue collar guys, I'm talking engineers, geologist, project managers, procurement managers, accountants, etc. You are mistaken if you don't think employees at these corporate offices aren't getting laid off as well. Engineers and project managers get laid off if there aren't new projects in the pipeline.

You are correct. I know one who was laid off, but his severance package was unreal. I just hate the fact these guys take huge bonuses and high dollar hunting trips while the working man is laid off. But It happen in most big business, a CEO can run a company in the ground and get paid multi-millions to walk away.

[Goldeneagle]

I'm gonna side with Moser on this one.

[Lutenbacher]

I know I have had to come to the Middle East for the first time in 25 years in the oilfield and it sucks. I would like to see it back up where maybe I can work at home rather than this god forsaken desert.

[Encinal]

Come on $200.

[Huggybear]

Come on 10$!��

[Encinal]

Come on 10$!��

I like $200 better. You guys that have been dancing on our graves can ride the bus to clean our toilets.

[J.B.]

I like $200 better. You guys that have been dancing on our graves can ride the bus to clean our toilets.

x2

[DJM]

We've saved so much in fuel costs the past 2 years my fuel budget has been cut by $300,000 for next year.That's not chump change.I hate seeing anybody out of work and like many others have said,there's got to be a happy medium.

DJ

[mill929]

I am the purchasing manager for an OEM and this is the first oil slump I have been through. I am blown away by the trickle down effect that oil has in our state. absolutely everyone is effect by oil prices, if you choose to believe other wise, you are foolish! it has hurt lots of people I am close to, myself included.

What OEM do you work for?