POLITICS - Global Warming,better believe it

Peter M. Eick · Post by **Peter M. Eick** » Sun May 04, 2008 3:03 pm

I was just scanning the news and came across this article.

http://www.foxnews.com/story/0,2933,353999,00.html

This is a pretty accurate over all summation of life in exploration in the US. Neat to see it described without having to write it myself. He did not even go into many details though.

Grizz · Post by **Grizz** » Sun May 04, 2008 3:23 pm

Yup, we have the oil and our own countrymen are keeping us from taking it. It's criminal and treasonous in my book.

Solar and wind will have some benefits, but in the near future, say the next years, replacing oil isn't one of them.

You gonna drive down Route 66 with a solar panel and windmill on the roof?

If I could decree it I would make all the known oil accessible and all the unexplored areas explorable. Anything to kill the market for jihad blood oil.

Post by **Hobie** » Sun May 04, 2008 6:57 pm

I LOVE it!

Tycer · Post by **Tycer** » Sun May 04, 2008 7:27 pm

Peter M. Eick wrote: Unless there is a political reason an area is shut down.

Name something that government intervention fixed.

Now lets just say the government really wants to fix the problem.

Peter, I truly believe your industry has been stifled by government intervention for political reasons and the government is the problem.
.
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Tell me, when the government reports big oil profits, which part of the general ledger are they pulling the numbers? If I am correct, the gross profit and not the net profit is what is reported. I know I'd be strapped if I had a good year in receipts, but lots of taxes and interest paid and the gov raised my tax because of those receipts.

piller · Post by **piller** » Sun May 04, 2008 7:42 pm

Tycer, you hit the nail on the head. As you and some of the others on here know that I am a Pharmacist. My industry averages 3% net profits. Why does the Oil Industry not tell us what percentage its profits are, or does the government and the media not want us to know that.

scr83jp · Post by **scr83jp** » Mon May 05, 2008 1:15 pm

The guru behind this warming is al gore,he uses more power than some small towns with his home,jets & vehicles.

Pathfinder09 · Post by **Pathfinder09** » Mon May 05, 2008 4:03 pm

As someone trained and working professionally in the field of natural resources, I know one thing. Nature is a dynamic system, constantly changing. Nothing on this planet will stay the same for very long, and to think that our home will be like this forever is misguided. Look at the earths geologic history. The earth has had global warming since the last Ice Age. to think that it is a modern phenomenon is just plain false.

It means alot of money for acedemics looking for reserch money and they have sold a bill of goods to the comon man that is false. Don't beleive me resarch it yourself and see what you learn.

Just my $.02.

Post by **Hobie** » Mon May 05, 2008 4:16 pm

piller wrote:Tycer, you hit the nail on the head. As you and some of the others on here know that I am a Pharmacist. My industry averages 3% net profits. Why does the Oil Industry not tell us what percentage its profits are, or does the government and the media not want us to know that.

I've read and heard that it is roughly 8%.

Blackhawk · Post by **Blackhawk** » Mon May 05, 2008 4:21 pm

Is he right or wrong? I'm not sure, but it seems to relate, somewhat.

John Perkins:Confessions of an Economic Hit Man

Part 1:
http://www.youtube.com/watch?v=oARBdBtG ... re=related

Part 2:
http://www.youtube.com/watch?v=GAqG51uwzMI&NR=1

Part 3:
http://www.youtube.com/watch?v=l22O33Ky ... re=related

Jeeps · Post by **Jeeps** » Mon May 05, 2008 7:40 pm

scr83jp wrote:The guru behind this warming is al gore,he uses more power than some small towns with his home,jets & vehicles.

Because in the typical Liberal fashion they want others to fix things for them.

Peter M. Eick · Post by **Peter M. Eick** » Sun May 11, 2008 3:03 pm

You guys are about right. On a good quarter we do about 8%. Some of the better companies get close to 9 but for the supergiants, 8% is about par for the course.

Just go on yahoo or google and hit the finance pages. With all of the federal regulations we can't really hid anything.

The ones that irk me are the 40 odd percent profits of the Coke and Pepsi companies. They make a ton of money and no one complains.

Rimfire McNutjob · Post by **Rimfire McNutjob** » Sun May 11, 2008 4:16 pm

It's probably easiest to look for the percentage EBITDA, which is before the earnings get clouded by Interest, Taxes, Depreciation, and Amortization. If the number is 8% EBITDA, it's pretty reasonable. Retailers like to strive for 10% or better. Obviously, there are some companies that do far more.

rhead · Post by **rhead** » Sun May 11, 2008 4:52 pm

What is the profit margin for holding a bottle under a tap, filling it and labeling it bottled water and charging $1.09 per pint?
I work for an independent refiner and some years we make 20%, some we lose 20%, the last 20 years we averaged between 7 and 8%.
One year we reported a 10 percent loss which was following a year with a 20 percent loss. The local medis reported that our profit margin had seen a 100% increase!!! A truthful statment but very missleading. Do they report profit as a perctage of sales or a percentage of captial investment. To get the truth you have to look beyond the numbers. at $120 per 42 gallon barrel for crude $3.60 at the pump after taxes will loose money across the refinry.

Grizz · Post by **Grizz** » Sun May 11, 2008 6:06 pm

Hobie wrote:

:lol: I LOVE it! :lol:

Thanks Hobie. Feel free to use it, pass it along, whatever. I bet it resonates with a lot of us. I was thinking bumper sticker when I put it together...

Thanks,

Grizz

El Chivo · Post by **El Chivo** » Sun May 11, 2008 7:33 pm

most businesses are going for a 10% net profit after everything, they may not be able to do it but that's the goal.

One thing that always struck me about oil/gas is the price goes up and then back down so much. That's not true for anything else. Once a Big Mac goes up, it stays up.

Also for some reason the gasoline has been the vehicle for additional taxes. Other commodities are subject to sales tax or no tax, but gas has sales tax and federal and state taxes. When gas was about $1.25 a gallon I looked into the taxes and they were about 50 cents. So the gas would have been about 75 cents except for the taxes. I'm curious to know what they would be now.

AJMD429 · Post by **AJMD429** » Sun May 11, 2008 9:13 pm

sobenk wrote:most businesses are going for a 10% net profit after everything, they may not be able to do it but that's the goal.

I guess it hits all industries - we were making $14 on a $140 doctor's visit, until the insurance companies decided we were overpaid and gave us what they described to the public as a 5% "pay" cut - of course it results in 50% "paycheck" cut! But we can surely just "work smarter"

sobenk wrote: When gas was about $1.25 a gallon I looked into the taxes and they were about 50 cents. So the gas would have been about 75 cents except for the taxes. I'm curious to know what they would be now.

I think I read somewhere that if you factor out the great increase in gasoline taxes since the 1960's, and the (government-induced) inflation, that the pre-tax, inflation-adjusted cost of gasoline actually rose only about 10% in the past forty years!