Separate names with a comma.
Discussion in 'The Tiki Bar' started by Dave S, Mar 5, 2008.
Gas forcasts. . .. probably not as accurate as weather forcasts.
Over a month ago I said "$2-2.50" by summer. I'm sticking with that and planning accordingly.
"The gasoline producers are trying to make some money in the wake of a dismal 2008. When crude prices were so high in the first half of last year, refining margins — the difference between what refiners pay for crude and what they get for products they make from oil — were dismal. In the latter half of the year, margins improved as oil prices receded, but refiners continued to struggle because people were simply driving less and buying less gasoline."
These are true statements - by percentage - which is how they measure success. Actual profits in straight dollars and cents were probably not off at all, but dropped by percent to 1/2 of the previous year when put in terms of %profit compared to crude costs.
Do you know that to be true? I understand that refiners were badly hurt by the rising crude prices since they had to pay more but getting increased prices lagged and they ate a lot of profit margin.
I did a very quick check on the web. Valero has no oil wells. They refine and retail. Second quarter results, when crude was very high were reported as, "second quarter 2008 income from continuing operations of $734 million, or $1.37 per share." Third quarter, when prices started to come down was reported as, "third quarter 2008 income from continuing operations of $1.2 billion, or $2.18 per share." They report fourth quarter on 27 Jan.
No, just pisses me off (probably the key word).
We should be enjoying the half price oil right now... LOL
We were at 3.09 a gallon last week. It's 2.89 today so definitely an improvement.
The Donald thought oil prices were too high...... https://www.msn.com/en-us/money/mar...to-tanking-crude-prices/ar-BBPJq5j?li=BBnb7Kz
$2.25 for regular in KY & TN...
Filled up the other day - $1.82 per litre. You guys in the US have got it good
That is not the markets fault, it is the government the people have chosen.
It's a few things actually. Cost of fuel to the supplier or reseller, type of fuel available in the area (95 RON), lack of competition generally for marina fuels in the area (there's only one supplier) economies of scale between the markets, exchange rates between our countries, and specific taxes on the fuel in our country.
Only the last point is probably relevant to your comment regarding the government and the rest are market based.
Most of all you pointed out are affected by government.
"type of fuel available in the area (95 RON)" bet the government is involved in that one...
"lack of competition generally for marina fuels in the area" Why no competition? Maybe government?
"exchange rates between our countries" Reeks of government...
Government has their greedy fingers in everything, in the states I have never heard of a single person that wants ethanol contaminated gasoline but government gave it to us. LOL
You've never spoken with an Iowa farmer. They love e10, e15 and any higher e.
In their heart of hearts they don't want it ruining their tools and generators etc. either, but they just the money from the government forcing their fellow countrymen to purchase their product.
Farms run on diesel not e10. So, not worried about their tools, just their wallets.
Trust me on this, the big stuff runs on diesel, but not the small stuff, similar to the diesel boat owner does not have a diesel outboard dinghy...
Figures: I converted to gas heat a year and a half ago.
Well, at least I’m enjoying the price break at the pump.
Thank you Mr. President!
95 RON is probably supply demand. Only used 98 in my cars. In my modified cars I would by avgas until banned and wished E85 was available at every servo.
Lack of competition likely due to exclusive distribution rights between the fuel company and the reseller.
Exchange rates are set by banks and currency traders.
Ethanol fuel ....would love to have E85 readily available.
Why would you want e-85? What would you use it in?