Thread: Ot: Gas Prices
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JRMSR JRMSR is offline
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Join Date: May 2007
Posts: 342
Quote:
Originally posted by pmc847
Where do I come up with this? I do research, read a lot and just use common sense. As my daddy use to say, 'figures can lie and liars can figure'. He also use to say, 'there are three sides to every story, yours, mine and the truth. So take what you want from what you read. I'm sure we can all twist it to fit our position.

What I have read, there are estimates of 4.5 trillion barrels of potentially recoverable oil. Read the rest at http://www.runet.edu/~wkovarik/oil/ If you don't like what you read there then find something that you do like.

As for gouging, don't confuse large net profit dollars with large profit. Don't forget how much a company has to spend to make the revenue and then a profit. If you think the oil companies 10% profit is gouging then what about every company that makes over 10% profit, should they be scorned and forced to give up their profits? Microsoft made 3 billion profit on 9 billion revenue, is that gouging? I think the only problem with oil companies is that they are too big. They should have never been aloud to merge.

Lets ride and burn more fuel so my stock value and dividends increase.

Philip
Problem is here, you've basically answered my question. "Figures do lie and liars do figure." I see, you've read it on the Internet, Gee, are you gullible enough to believe everything you read on the great Internet!? Oh yes, it's gospel isn't it. A geologist makes an estimate of our possible underground oil supplies and bingo, poof, zowy, it's the truth. Don't forget, these are the same geologists that can't predict earthquakes, volcano eruptions, if there is 11 or 12 geologic periods, etc. Lets see, did they survey the entire country, did they get their figures from oil company geologists, or God forbid they used theoretical mathematics. Tell me just how accurate do you think these figures are. Oops Freudian slip, you read it on the Internet, gosh I forgot, darn. Your research comes from a geologist Colin J. Campbell, Ph.D., (born in Berlin, Germany in 1931) is a retired British petroleum geologist. Gee, he worked for the oil companies, fancy that! He has been employed by, Texaco, British Petroleum, Amoco, Shenandoah Oil, Norsk Hydro, and Fina. Gee not just one oil company but at least six I can count! I wonder where his retirement comes from?!

So, what your saying is, it's alright for the oil companies to lie about profit margins, manipulate refineries production levels and charge you more for production this year even thought the cost per barrel is cheaper than last year? Sounds like a bit of gouging to me and a bunch more crap spouted by IHS who employs Dr. Campbell and are employed directly by oil, military, aerospace and automotive manufactures. By the way, IHS is the parent company for who Campbell writes for. Gee, and all these corporations don't have direct ties with the oil companies. IHS is nothing but an information service that makes over $225 million a year and one that is providing management and understanding of the risks associated with finding and producing oil and gas, wow again with the oil companies! So to say they aren't in league with the oil companies, would be like saying, "fish don't belong in the water. "

Out of the $225 million that IHS netted last year, the oil companies paid over $100 million. Funny how the oil business has there hands in most everything. "If you don't like the information, manipulate the data." I always say!! Hence, Dr. Campbell theories.

Well now, let's take a simply "common sense" look at the data that is provided or is this a conspiracy theory? Dr. Campbell worked for six (6) different oil companies as a company geologist. He's now retired from British Petrol em and they pay his retirement, fancy that! He writes for a company (IHS) who is directly paid by the oil manufactures to the tune of almost half their net annual profit. Now, if you just say that the oil companies might control the information that is publicly available from Dr. Campbell, you'd probably be right, or have great influence over it would be an understatement. Why not let Dr. Campbell tell the world, the poor oil companies are having a hard time exploring for oil and there are much greater costs evolved, or better yet that we've reached our "Peak" and our oil supplies are dwindling to dangerous levels. Hence higher production costs, less oil availability, refinery problems and **POOF** you have instant increase in prices at the pumps and major profits for the oil companies. Not to mention, greater tax cost in supporting the aerospace industry, military,and others. Do you think that a man who is retired from a major oil company would make a immediate 180 degree turnabout and jeopardize that retirement? You answer that one. Well, I think your research is a little bit flawed as well as your common sense

Bottom line here is, where do you think the information you read came from? Couldn't be the oil companies now could it, huh! They wouldn't lie to us, now would they?!! Gouging, no I'd call it highway robbery!! Some small speculation on my part but primarily fact. I will say it again, it's all about GREED and MONEY!! After 50 odd years of watching the oil companies operate it doesn't take a genius to figure out that we all are being taken for a ride. I give it an overall sphincter factor of about a 9.5!!!

Cheers

Jeff

Last edited by JRMSR; 05-27-2007 at 02:22 PM..
Old 05-27-2007, 01:08 PM
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