What is a fair percentage or dollar amount?
It seems a lot of folks here blame the oil companies for the profits they post.
OK, for the sake of discussion (NOT ARGUEMENT) for those that think the oil companies are ripping us off.
what is a fair percentage of profit on gross sales for the oil companies?
Should the dollar amount of profit per quarter or year be limited for oil companies?
Should the big oil companies be broken up so the dollar amount of profit is the same but is a smaller number per new smaller company?
OK, for the sake of discussion (NOT ARGUEMENT) for those that think the oil companies are ripping us off.
what is a fair percentage of profit on gross sales for the oil companies?
Should the dollar amount of profit per quarter or year be limited for oil companies?
Should the big oil companies be broken up so the dollar amount of profit is the same but is a smaller number per new smaller company?
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My opinion is that if they can afford to give retiring execs 45 million dollar retirement packages...they must be making too much money. I have no problem with capitalism and making a buck, but sometimes, greed overshadows everything else and these oil guys are GREEDY. 0 -
so if you were offered 45 mil to retire youd turn it down? 0 -
to reply to the post, let them charge what they want, if it gets too high well stop buying eventually. free market out there, if i opened a business i would make as much as possible too. 0 -
Record profits reaped from record prices does not support the notion that they are not greedy. Many American corps are so however. Iacocca received an $11,000,000 bonus during a year when Chrysler lost money. 0 -
quote:Originally posted by HobbyGuy
quote:Originally posted by RustyBones
so if you were offered 45 mil to retire youd turn it down?
Okay, I'm confused. Why would you ask a foolish question like that? Doesn't even seem to be logical. [B)]
that was in response to:
"My opinion is that if they can afford to give retiring execs 45 million dollar retirement packages...they must be making too much money"0 -
I'd like to know how the STATE can come in and regulate gas stations the way they do.
Didn't some state threaten a gas station owner becuase he was selling gas CHEAPER than anyone around him?0 -
yep they did, govt can only make matters worse.
Never mind, I am supporting HILLARY "taking" the profits like she mentioned. come on everyone pitch in so we can be communist faster[:X][:(!][V][xx(]0 -
(You should know by now the State can/does just about anything the State wants to - Federals & States for that matter. Take the FEDERAL & STATE TAXES off the gasoline then it'd be way too cheap![:o)]) 0 -
So far I've seen GREED and this or that as answers.
THAT WAS NOT THE QUESTIONS POSED TO YOU.
If you feel they are making too much money fine.
ANSWER THE QUESTIONS POSTED.0 -
10000%+++
whatever they can get0 -
Well I can't give a fair percentage amount or dollar amount unfortunately because I don't have the background in the industry. I would say however that it would be fair that if they intentionally allow their existing refiniries to fall into disrepair with the knowledge that it takes something on the order of an act of God to get new ones built, that they shouldn't be able to reap a windfall from the shortage in gas that they helped make happen. They may not be able to easily build build new refiniries under existing regs but they sure are making enough to modernize and maintain the ones they do have and have been for quite a while. And this lack of maintainence and modernization got a bunch of workers at the BP refinery in Texasville killed, so it is about more than just inconveinence and having less to spend at Wal Mart. 0 -
quote:Originally posted by HobbyGuy
From my tinkering with light manufacturing and distribution, I would say 75 - 150% above cost isn't out of the ordinary. What is your opinion bpost1958?
They earn, as a percentage of gross sales, about average for businesses. They are operating on about 9 percent profit.
I find it amazing that folks can blame the oil companies for a problem created by our Government and exacerbated by the States we live in. Taxes from well head to pump are outrageous burdens on the consumer. Don't forget; the money you spent on gas was taxed before you got it, taxed again by the state and had the federal gas taxes added on top of it all.
Our government tricks us into blaming the oil companies every time this comes up. the cost of a new refinery is a huge risk to oil companies. Why? Because even if the EPA permits are granted some tree hugging group may find a group of walleyed toads that is limited to the area the refinery is built. They sue and win an injunction after the oil Company has already invested a billion dollars only to see it wasted by the ruling of a judge. Time is money, when you have a billion dollars being held up for months the loss on it is in the tens of millions. Would you risk your money?
EPA regulations; there are 17 different formulations for the US gas supply. The EPA has mandated that PRIVATE industry conform to its rules for these blends. This drives the price up. The gas used in Colorado can't be shipped to Iowa because the EPA rules prevent it.
Oil supplies; one word......ANWAR, your Government screwing you again.
IT IS A GOVERNMENT PROBLEM not an oil company problem.0 -
O.K... Here I go again on WW 2 pricing. We had the O.P.A. during ww2.
(Office of Price Administration). Prices for most everything was controled by the O.P.A. to prevent such as this. If we are not at war
now, why are our troops dieing. To change the prices up, one had to explain to the OPA and get a O.K.. Otherwise the company was "doing the
black market thing " and was fined and jailed.0 -
When I was associated with the actual manufacturing of a product, a good rule of thumb for mark up, when using two or more level distribution, was: five times raw material cost (unburdened, that is), to establish retail pricing.
Now, I wasn't dealing in commodities, like gasoline, but in value-added products, so I don't know if that thinking would apply.
Doug0 -
15% materials
5% consumables
and labor is what it is.
if i cant provide a product that will both make me a little money and not RAPE my nieghbor i fell that i have no buisness being in buisness. Labor should be the kicker here not the materials. but then again i am in the service buisness not a comodity one.0
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