Do you think this will lower the price of gas?

[tirebird]

One other note, the high price of oil will bring about more exploration and more production, including shale oil from Canada and the oil sands of our West. But it will also bring about more innovation, something that makes America strong. Take a look at this video and you'll see that there is a positive side of the high price of oil. Here is just one company that can use algae to make any kind of fuel you want; gasoline, diesel, jet fuel, etc. The main scientist claims, as you'll see, that the process can supply the entire energy needs of the nation by using farms on 1/10th the area of New Mexico.

http://cc.pubco.net/www.valcent.net/...gro/index.html

[TDW]

Wow. More record profits for the oil companies announced today. In fact, the highest ever for any company in history. Ouch to our wallets.

[Xplantdad]

[ QUOTE ]
Wow. More record profits for the oil companies announced today. In fact, the highest ever for any company in history. Ouch to our wallets.

[/ QUOTE ]

Wow...what a surprise! No one could see that coming...

[442w30]

[ QUOTE ]
Wow. More record profits for the oil companies announced today. In fact, the highest ever for any company in history. Ouch to our wallets.

[/ QUOTE ]

That's gross profit, not net.

Did you track the prices of those stocks today?

[Born30YrsLate]

$138 Billion in Sales...$11.7 Billion in Profit (wouldn't that be net?)

[442w30]

Net profit is the measure of efficiency of a company. You have to divide net income before taxes by gross sales and express as a percent. When compared with prior periods, net profit on sales can reveal management efficiency trends.

However, I guess what I was getting at is that often, when a number is announced to the press, the public gets upset and say, "Look at those oil men . . . they're ripping us off!" when the reality is their profit margin is not something to shout home about.

Regardless, I believe profit is good and I don't hate a company that's maximizing profit.

[HEMIBEE]

the oil companies make 8 cents per gallon of gas, the federal government makes 17 cents per gallon in federal tax, and can't seem to use it in the places we need it, like filling the huge pot holes and maintaining bridges, you have to remember that the fuel cost all over the world have gone up not just here in the u.s.a.

[Mr70]

That reported 11.7 Billion profit is over a 3 month period...that's $88,982.05 a minute!

[COPO 70 RS/Z28]

[ QUOTE ]
Net profit is the measure of efficiency of a company. You have to divide net income before taxes by gross sales and express as a percent. When compared with prior periods, net profit on sales can reveal management efficiency trends.

However, I guess what I was getting at is that often, when a number is announced to the press, the public gets upset and say, "Look at those oil men . . . they're ripping us off!" when the reality is their profit margin is not something to shout home about.

Regardless, I believe profit is good and I don't hate a company that's maximizing profit.

[/ QUOTE ]

You have to look at ROI, if you look at profit as a component of return on investment over the last 10 years the industry underperformed most Major Industrial sectors.

[68Biscayne427]

Another interesting article...
Why Oil Will Become Cheaper...