More
DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
Friday, February 24, 2012
OIL IS AN INVESTMENT TO THE 1%; OIL IS A COST TO THE 99%
Brent crude is trading at $123 per barrel today. That is the true cost on the world markets. That means $4.00 gasoline is in your near future. The 1% are unconcerned with this rise in oil prices. In fact, they are probably profiting from the increase since they have money to invest. The 99% have to drive to work everyday (if they have a job) and heat their homes in the winter. The chart below gives you a relative impact on an average family just for driving. If you take into consideration heating, the cost of food going higher due to transportation costs and fertilizer costs, and the cost of everything needing petroleum going higher, you’re talking a few bucks for Joe the Plumber. But don’t worry. Obama is considering using the Strategic Oil Reserve again to keep his re-election plans on course. We know how well his last dip into the reserve worked on prices.
More
More
Subscribe to:
Post Comments (Atom)
3 comments:
Don't, for a minute, think this ISN'T going to make a whole lot of families choose between gasoline and feeding their family, or heating their house, or buying medicine, etc. After all, if they get to their part time jobs with no benefits, NO bills get paid. But take heart. Mobil should generate about 35 BILLION in profits this QUARTER. thats a lot of profit. We're going to need to invade another country soon if we expect them to continue to squeak by on THAT. I know I'm happy.....
236-Are you stupid, or just ignorant of reality? Major oil producers(Exxon-Mobil, Shell, etc), make a profit of 6.3 CENTS per dollar of revenues(you may want to google the difference between gross and net). Look it up, at best, they are middle of the road in terms of profitability when you examine profit margins across the entire industrial spectrum. The reason they MAKE so much, is because of the VOLUME of sales.
I AM pretty stupid, actually. I never did learn anything. But I DO know 35 billion a QUARTER (and thats just ONE of the five oil companies that post those kinds of earnings) is a LOT of money. And the 6.3 cents per dollar is a statistic. Accountants can make Exxon and Mobil look like they are LOSING money if they want to, so I'm not sure how stupid YOU are if thats the best you got for refutation. I'm stupid, but not brain dead.
Post a Comment