Click to go to Forum Home Click to go to maXbimmer Home

Go Back   maXbimmer Forums > Misc > Off-topic
User Name
Password


Welcome to Maxbimmer.com!

You are currently viewing our boards as a guest which gives you limited access to view most discussions and access our other features. By joining our free community you will have access to post topics, communicate privately with other members (PM), respond to polls, upload content and access many other special features. Registration is fast, simple and absolutely free so please, join our community today!

Reply
 
Thread Tools Rate Thread Display Modes
Old 02-02-2006, 04:55 PM   #1
Hasselhoff
3rd Gear Member
 
Hasselhoff's Avatar
 
Join Date: Sep 2004
Location: Mississauga
Posts: 503
Esso reports record profit when gas was $1/Lt



Yet another reason to hate Big Oil...

"Imperial Oil Ltd. made more than $1 billion the final three months of last year — the highest profit the oil giant has ever made — at a time when consumers were paying nearly $1 a litre for its Esso brand of gasoline.

That profit was nearly double the company's earnings in the fourth quarter of 2004, when it made $538 million or $1.53 a share."

More: http://www.cbc.ca/story/business/nat...so-060202.html

Edit: Friggin BASTARDS!!!!!

Last edited by Hasselhoff; 02-02-2006 at 06:33 PM.
Hasselhoff is offline   Reply With Quote
Old 02-02-2006, 07:05 PM   #2
Rampage
6th Gear Member
 
Rampage's Avatar
 
Join Date: Oct 2004
Location: Caledon, Ont.
Posts: 2,095
holy shit! Thats alot of cash!

And, lol, your sig is funny
__________________
2009 328i 6-spd - AW - Oyster Dakota - Sport Pkg. - Prem Pkg.
Rampage is offline   Reply With Quote
Old 02-02-2006, 08:36 PM   #3
BMW_7
Econobimmer Racing
 
BMW_7's Avatar
 
Join Date: Dec 2002
Location: Kiev
Posts: 8,364
Send a message via AIM to BMW_7 Send a message via MSN to BMW_7
LOL did the owl bite the head off?
__________________
Vitaliy



Helprace, a helpdesk & community platform
BMW_7 is offline   Reply With Quote
Old 02-02-2006, 08:37 PM   #4
6speedMaxSE
4th Gear Member
 
6speedMaxSE's Avatar
 
Join Date: Feb 2005
Location: Georgia
Posts: 808
And Gdubb said we are addicted to oil...Big oil is addicted to cash! I guess we can't win!
6speedMaxSE is offline   Reply With Quote
Old 02-02-2006, 08:39 PM   #5
FastM3
is dreaming of ///M's
 
FastM3's Avatar
 
Join Date: Sep 2002
Location: -
Posts: 5,898
Esso is a bunch of cunts! They steal our money and then install TV's in each station so we can watch while we fill up...fack off! Esso=Banned!
FastM3 is offline   Reply With Quote
Old 02-02-2006, 09:02 PM   #6
King Luis
The King.
 
King Luis's Avatar
 
Join Date: May 2003
Location: Milton
Posts: 7,383
Send a message via MSN to King Luis
isn't esso apart of exxon...the dirtiest gas company in north america?
__________________
Current:2013 Candy White VW Golf TDI
Mods: TBD.

Sold:2004 Silver Gray M3
Mods: Dice Unit, EAS Angel Eyes, Painted Reflectors, CSL Diffuser, Smoked Corners, PSS10s, 15mm Front and 10mm Rear Spacers.

Gone:1990 Brilliantrot 325is
Mods: Alpine speakers and HU, Euro Projectors, Magnaflow Muffler, Euro Smoked Tails and GC Coilovers.
King Luis is offline   Reply With Quote
Old 02-02-2006, 09:48 PM   #7
sirex
King Sirex
 
Join Date: Aug 2002
Location: Toronto
Posts: 9,832
lol.. yo can boycott it
sirex is offline   Reply With Quote
Old 02-03-2006, 02:00 AM   #8
Antz_Marchin
4th Gear Member
 
Antz_Marchin's Avatar
 
Join Date: Apr 2004
Location: St.Catharines
Posts: 881
You should have watched the stocks on the TSE. Every day, the big 4 oil companies were gaining $2-3 DAILY, for 1-2 weeks during the $1-$1.40/Litre period. When you see gas hit near a dollar, check the Star stocks page that day, top gainers will be all oil companies.
Antz_Marchin is offline   Reply With Quote
Old 02-03-2006, 10:21 AM   #9
Hasselhoff
3rd Gear Member
 
Hasselhoff's Avatar
 
Join Date: Sep 2004
Location: Mississauga
Posts: 503
Quote:
Originally Posted by King Luis
isn't esso apart of exxon...the dirtiest gas company in north america?
Yes it is. From their website:

'Exxon Mobil Corporation is the parent company of the Esso, Mobil and ExxonMobil companies.'

Link: http://www.esso.com/Global-English/PA/Esso_Homepage.asp

Now, I'm all for companies increasing their profit margins - when they do it via things like technical innovations, increased productivity, efficient management, etc... But when we, the consumer, are being so openly gouged it really pisses me off! It's like their PR department's got a book of BS lines to feed us on why a certain increase was/is justified. I don't know of any other product (or service, for that matter) you can buy that can have it's price fluctuate 20% or more in a matter of minutes.

I wish the government would step in and at least do something to control the crazy price fluctuation, but I guess it's kinda pointless since high gas prices = more cash for them.

Maybe someday we'll have a system like Britain, where the Gov regulates gas/diesel prices through a variable gas tax. Sure they pay more, but at least it's frikken consistent! [/RANT]
Hasselhoff is offline   Reply With Quote
Old 02-03-2006, 11:33 AM   #10
M3ti Compact
Fuel Efficient 318 Member
 
M3ti Compact's Avatar
 
Join Date: Mar 2002
Location: Toronto
Posts: 3,465
It's all about supply and demand. Supply is getting lower, demand is getting higher- prices go up. Prices are still well below what they should be in terms of the economics...the price could go to $2 a litre and they would still be making huge money.

Hyrdogen, Hybrids, Electrics are the wave of the future.
__________________
M3ti Compact is offline   Reply With Quote
Old 02-03-2006, 03:59 PM   #11
sirex
King Sirex
 
Join Date: Aug 2002
Location: Toronto
Posts: 9,832
supply isn't getting lower... I still see them producing the ammount of oil that we need per day without any problems.. That means supply is still the same.

the only time your prices will sky rocket would come into effct is if they actually cant meet our day to day needs.. Then you will see prices skyrocket.

If the oil companies were that worried about them running out of oil you would be paying prime money for fuel right now.... which you aren't... 95 cents a litre is a fair price for 2005.. Factor in inflation, and how cost of living has gone up and what we are paying now 95 cents is like when we were paying 50 cents 13 years ago...

as for profit margines.. if the job wasn't profitable, do you think they would be doing it?

Last edited by sirex; 02-03-2006 at 04:03 PM.
sirex is offline   Reply With Quote
Old 02-03-2006, 04:04 PM   #12
propr'one
op sucks cock
 
propr'one's Avatar
 
Join Date: Jun 2004
Location: T.
Posts: 17,766
Send a message via MSN to propr'one
sirex, dont you have an MBA?

supply IS getting lower. supply/demand curves only apply if they are consistant throughout the long term, which everyone knows isn't true for oil, because there's a very finite amount of the resource. Since we are approaching (but are not yet at) the point where the cost of raw oil will start increasing exponentially, the owners of said resource are increasing the price because of their inability to sell the ressource at the same quantities that they are selling now in the future.


the truest form of supply/demand DOES exist with gas. when gas prices double, we still buy it, some of us buy less. At this point it can be argued that they are controlling the supply, but these are market measures, not price gouging measures. besides, like i've said a bunch of times. INVEST IN OIL COMPANIES, then when they make money = you make money.
__________________
I run a canadian HID kit company, if you have any questions about hid kits in canada or would like to check out our products please contact me here: http://absolutehid.ca

Hot: 2001 Estoril M RoadsterZCP 19's michelin supersports, ZHP knob, JL 8W3
Cold: 2002 TiAg M3 6mt ZCP 19's michelin supersports, deoranged, dechromed, led tails, ZHP knob, UUC SS v3, GROM, OEM 18's w310's,
fun: 2006 YZF-R6, black
propr'one is online now   Reply With Quote
Old 02-03-2006, 04:39 PM   #13
jstalin
capitalism=crisis
 
jstalin's Avatar
 
Join Date: Jan 2005
Location: Via Dolorosa
Posts: 3,087
Quote:
Originally Posted by sirex
supply isn't getting lower... I still see them producing the ammount of oil that we need per day without any problems.. That means supply is still the same.
The oil reserves are finite, so obviously they are getting lower. Couple that with the fact India and China are using more oil than ever so the reserves are depleting quicker than forecasters expected.

And unless you have a mil, investing in oil won't yeild you much. The hey day of black gold was gone long ago. Gold + biotech are the future stocks
__________________
Rise with your class, not above your class
̿ ̿̿'\̵͇̿̿\o=(̪●)=o/̵͇̿̿/'̿̿ ̿
jstalin is offline   Reply With Quote
Old 02-03-2006, 05:04 PM   #14
Hasselhoff
3rd Gear Member
 
Hasselhoff's Avatar
 
Join Date: Sep 2004
Location: Mississauga
Posts: 503
Quote:
Originally Posted by proprone
the truest form of supply/demand DOES exist with gas. when gas prices double, we still buy it, some of us buy less. At this point it can be argued that they are controlling the supply, but these are market measures, not price gouging measures. besides, like i've said a bunch of times. INVEST IN OIL COMPANIES, then when they make money = you make money.
I agree with you on the supply/demand point in principle, but I can't see how they're actually controlling the supply by allowing the price to fluctuate so rapidly and by such a large margin (up to 10% daily in some cases!).

Here's an interesting graph I found while trying to find out exactly how pump prices are determined:



It's from a somewhat old article, but here's the link (it's a pretty quick read):http://www.direct.ca/trinity/gasprices2.html
Hasselhoff is offline   Reply With Quote
Old 02-03-2006, 05:16 PM   #15
sirex
King Sirex
 
Join Date: Aug 2002
Location: Toronto
Posts: 9,832
well it makes sense fridays price increases.. People are going to be buying alot more gas on friday then any other day of the week. Therefore they need to make sure there inventory doesn't dry out before it can be refilled.

as for oil running out.. yes I know that.... the companies will still produce the ammount of oil demanded though for as long as possible.. You will see price rise however... When demand increases, supply has to increase to cope with demand. But at what price? Well to produce that 1 extra barrel per day it costs more then the previous barrel..

Untill the physical limit of pumping out oil is reached - it seems to be growing every day, that is we pump 1 barrel today, 2 tomorow, etc - then the prices will continue to rise... But the price is not rising because of scaricity or rarity of the item, not yet at least.. If it was we would be paying alot more then we are now. Remeber it costs more to produce more.

As more and more is demanded, price continues to rise and eventually demand will be so great, that price will also be so great and demand will begin to fall.... Eventually the consumer will drive prices so high that we wont be able to afford it, and that will be because so many of us want it.

im sure some level of the price we pay now is related to the scarcity of the item.. but probably not much.

Last edited by sirex; 02-03-2006 at 05:49 PM.
sirex is offline   Reply With Quote
Reply

Thread Tools
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On

Forum Jump


All times are GMT -4. The time now is 05:08 PM.


Powered by vBulletin® Version 3.8.1
Copyright ©2000 - 2015, Jelsoft Enterprises Ltd.
Maxbimmer Copyright 2001 - 2015