and there is a great reason why the oil companies are NOT building new
refineries...they have know for years we are close to max pumping capacity
and to create new refineries that will be offline in the near feature is a
waste of investor money, much has been writ en on this...I cannot find my
favorite link here at work but this link is almost as good:
http://www.peakoil.net/ and specifically www.peak*oil*
.net/Publications/International-Summer-School_Salzburg_2002.pdf<http://www.peakoil.net/Publications/International-Summer-School_Salzburg_2002.pdf>

In one sense we all had this coming but its just so frustrating when the
markets corrects so abruptly. We still know that gouging is going on too! As
I complained before why did gas prices change only once or twice a week in
my area but now they change every day. Additionally there were no more then
2cents different from one end of town to the other...now in my area there
are 30cent differences only 1 mile apart. Complete BS!

Shawn

On 7/30/06, Loren Busch <starwagen@gmail.com> wrote:
>
> RE: Oil Company Profits
> I took a quick look at the Exxon SEC filings and Annual Report.
> Summary:  $208 billion in assets, reported $10.3 billion in profit for
> last
> quarter.  That comes to about 5% return on investment, about 20% annually.
> And paying taxes at 47% rate.  Good return on investment and around what
> most investors would be happy with, not way out of line.  Most small
> retail
> stores are looking for 35% to 60% margin, 20 to 30% net on sales.  And
> when
> we spend $1 for a quart (usually smaller) bottle of water we are paying $4
> a
> gallon or more.
> When the US oil companies are not allowed to pull the oil from the monster
> reserves here at home, along our coasts, and no new refinery has been
> built
> in the US for 30 years (adding the cost of pumping or hauling to the price
> of gas) it's no wonder the prices are going where they are.
> Do I like it when I fill the tank on my Westy? (VC) Hell no.  Do I
> understand it? Yes.
>

--
shawn feller

www.carboncow.net
www.carboncow.com