WHEN (not if) gas prices reach $4/gal for premium
#1
WHEN (not if) gas prices reach $4/gal for premium
I'd have to be thankful of the TSX's 25 mpg on my driving habits.
With the obvious price fixing today, it affects my monthly finances by about $45.00 when gas prices go above $4.00.
Unfortunately, it affects my household finances bigtime. While we certainly don't have a huge Hummer or Suburban V-8 SUV, our Honda Pilot gets around 19 mpg with the wifey's driving habits. Many gas stations aren't allowing folks to fill more than $50.00 at the pump. At that point, my wife experienced an auto shut-off with the pump not allowing more gas into her tank. We had a conversation this morning regarding buying a Civic or Civic Hybrid when/if gas reaches $5.00 for regular.
While the TSX is a keeper until there are gas shortages, I have a feeling AZer's "other" cars in the family will be affected. This is a dillema I've had a hard time accepting until recently. Although I'm certain there will be a price point where demand will drop drastically, the greedy oil companies know that they only have to lower their prices temporarily before raising it even higher the next time around. At our nation's current consumption rate combined with our love for splurging on huge V8 and even V10 fads, expect prices in the Spring 2007 to go over $4.50.
So, my question to you fellow TSX owners who have "other" cars with less than 20mpg in the family: At what price do you sell the other car?
It's $5.00 for me. Hopefully that doesn't happen anytime soon.
![Thumbs Up](https://acurazine.com/forums/images/smilies/thumbsup.gif)
Unfortunately, it affects my household finances bigtime. While we certainly don't have a huge Hummer or Suburban V-8 SUV, our Honda Pilot gets around 19 mpg with the wifey's driving habits. Many gas stations aren't allowing folks to fill more than $50.00 at the pump. At that point, my wife experienced an auto shut-off with the pump not allowing more gas into her tank. We had a conversation this morning regarding buying a Civic or Civic Hybrid when/if gas reaches $5.00 for regular.
While the TSX is a keeper until there are gas shortages, I have a feeling AZer's "other" cars in the family will be affected. This is a dillema I've had a hard time accepting until recently. Although I'm certain there will be a price point where demand will drop drastically, the greedy oil companies know that they only have to lower their prices temporarily before raising it even higher the next time around. At our nation's current consumption rate combined with our love for splurging on huge V8 and even V10 fads, expect prices in the Spring 2007 to go over $4.50.
So, my question to you fellow TSX owners who have "other" cars with less than 20mpg in the family: At what price do you sell the other car?
It's $5.00 for me. Hopefully that doesn't happen anytime soon.
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#5
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Did you know that the government makes much more off of every gallon of gas you buy than the oil company? The oil company's profit margin is around 10% which is lower than many other businesses. It's all supply and demand. If one company could afford to sell it for a quarter cheaper than everyone else then you can bet they would because they'd get all the business. Taxes and environmental restrictions (in other words, government meddling) has a much more profound impact on this high price we are paying at the pump.
My wife and I are driving Civics (33-36 mpg) now and my TSX is slated to come in next month, I have to say I've had second thoughts on it.
My wife and I are driving Civics (33-36 mpg) now and my TSX is slated to come in next month, I have to say I've had second thoughts on it.
#7
Senior Moderator
Originally Posted by paranode
Did you know that the government makes much more off of every gallon of gas you buy than the oil company? The oil company's profit margin is around 10% which is lower than many other businesses. It's all supply and demand. If one company could afford to sell it for a quarter cheaper than everyone else then you can bet they would because they'd get all the business. Taxes and environmental restrictions (in other words, government meddling) has a much more profound impact on this high price we are paying at the pump.
My mom drives a compact car (Chrysler Cirrus) that has a V6, and it's only rated at 19/27 mpg! It's got about 112k on it now (plus a tranny leak) and I keep trying to convince my parents to give it up and get a Civic, but they don't want another car payment now, as they're still paying off a Sebring.
I'm just happy I moved closer to work and instead of an hour commute, I only have 5 minutes, so I'm using far less gas than I was before.
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#8
Im not sure there is a particular price point for me, but the next family-duty vehicle will be alot more conscious about gas prices.
At this point in my other vehicle's life cycle, driving it will probably save more money than taking on a new loan with a higher rate.
At this point in my other vehicle's life cycle, driving it will probably save more money than taking on a new loan with a higher rate.
#9
when converted to CDN dollars and gallons, canadians are already paying close to $4/gallon for regular unleaded 89.
the US is still relatively cheaper than canada.
no doubt, many households are affected by these prices, regardless of whether it's the US or canada. sucks...
the US is still relatively cheaper than canada.
no doubt, many households are affected by these prices, regardless of whether it's the US or canada. sucks...
#10
Burning Brakes
Yeah...gas prices are increasing...but the truth is, its been extremely cheap in the US. You're right, they'll probably hit 4 dollars soon, maybe this summer.
I'd advise against a civic hybrid though, on tests, they only avg marginally higher mpg than a regular civic does....thats a bummer...
I'd advise against a civic hybrid though, on tests, they only avg marginally higher mpg than a regular civic does....thats a bummer...
#11
Originally Posted by acn684
I'd advise against a civic hybrid though, on tests, they only avg marginally higher mpg than a regular civic does....thats a bummer...
1. Up to $2000 tax credit -- not deduction. That's HUGE. It all depends on how many take advantage of this Hybrid perk.
2. HOV lane access - last time I checked, only the Prius, Insight, Civic, and one other car I can't remember can use the HOV with no passenger in CA.
I'm hoping Kenny could clear up some of the complexities of #1. I remember reading an article on how the tax credit decreases if more folks buy hybrids. Additionally, I remember seeing some state tax laws being pulled when doing my taxes ala turbo tax.
#12
Originally Posted by paranode
Did you know that the government makes much more off of every gallon of gas you buy than the oil company? The oil company's profit margin is around 10% which is lower than many other businesses.
#13
Senior Moderator
Originally Posted by Black_6spd
A 10% profit margin is higher than most businesses? When you're talking about price points, 10% is low. However, many companies do not hit their targets on intended profits due to variances. In fact, most businesses would be happy to simply break even. Oil companies made billions and billions and want more. Did you see the earnings for some of those companies? You can't tell me that they make less than most businesses. Who could blame them? We simply don't have a competing resource that's practical to use today.
#14
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We already hit that point. My finance drives about 100 miles a day to work and she was driving a Jeep Grand Cherokee, we just traded it in for a Civic last month. Our gas bill be down from about $325 to $135. Almost a $200 difference. She was getting about 16 mpg in the Jeep and gets at least 40 in the Civic. And we both have pretty good driving habits, I usually get at least 30 in the TSX.
We didn't go with the Hybrid because with the amazing gas mileage of the regular civic, and the price difference between that and the hybrid, it didn't make monetary sense, even with the tax credit. She does almost all highway driving and remember, the hybrid doesn't get as good mileage on the highway. But we are more then happy
and get happier everyday. I don't drive to work so even though I am going to be trading in for a car with worse mileage, at least the car that gets driven the most will have the best mileage.
We didn't go with the Hybrid because with the amazing gas mileage of the regular civic, and the price difference between that and the hybrid, it didn't make monetary sense, even with the tax credit. She does almost all highway driving and remember, the hybrid doesn't get as good mileage on the highway. But we are more then happy
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#15
Team Owner
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Originally Posted by LuvMyTSX
If we take away their profits, who will pay for all the research they do? Who will pay for refineries? Also, we consumers are not the only ones who use oil. Most industries rely on oil to make things (plastic, for one!!!); it's not just used for gasoline. The oil companies also have to buy oil at the market price when they purchase it, so do you think they want it to be high? No. I know someone who works for an oil company, and we talk extensively about all this stuff, because I too feel the pinch from higher gas prices, but explanations for things helps. It only fuels anger when the media harps on the oil companies for their profits and stuff, but doesn't explain anything else. They want you to believe what they tell you.
![Ponder](https://acurazine.com/forums/images/smilies/ponder.gif)
However, when the CEOs and the investors are padding their pocketbooks and not really putting any money towards increasing research in the area of sustainable fuels, I have a real problem of it.
Also, oil companies love it when the price of oil increases because they can charge more for it fora while, but then when oil prices go down, they don't pass that price decrease on to the consumers. If they were fair about keeping gas prices in line with oil price fluctuations, then I wouldn't have a problem with them earning a profit.
I understand that business are around to make money, but at some point, you need to think about the morality of basically lying to your customers and cheating them out of the money.
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#16
Originally Posted by LuvMyTSX
If we take away their profits, who will pay for all the research they do? Who will pay for refineries?
#17
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Originally Posted by Black_6spd
A 10% profit margin is higher than most businesses? When you're talking about price points, 10% is low. However, many companies do not hit their targets on intended profits due to variances. In fact, most businesses would be happy to simply break even. Oil companies made billions and billions and want more. Did you see the earnings for some of those companies? You can't tell me that they make less than most businesses. Who could blame them? We simply don't have a competing resource that's practical to use today.
10% is lower than most business, not higher. Oil companies make billions because they sell billions. There simply is no commodity so widely used and in such high demand that takes such infrastructure to produce. Coke for example makes like 30% in profits, but since we don't power our cars with it nobody seems to care if they make money. Companies that don't make a profit are failing.
Did you know we haven't built a refinery since 1979 because of anti-oil environmentalists? Did you know that China is about to start drilling for oil in the Gulf of Mexico but we are not allowed to due to our own laws? The same idiots on the TV telling you that you should be mad at the oil companies are the same idiots that created this scenario. There ARE alternative fuel sources but the cost to mass produce them on a scale equivalent to gasoline would mean that you pay MORE at the pump. These 'windfall taxes' that the rich government (who makes more money off your taxes than 'big oil') is proposing will just make prices go UP.
Take a look at Europe where prices have been over $5/gal for a very long time, that is the kind of crap that these idiot politicians are going to get with this 'tax them more' idiocy. We DO need to get a fuel source that is less reliant on the Middle East but right now they are expensive. If you want to though you can go buy a car that takes diesel. The price is not that much cheaper though.
To cut prices you need to increase supply, which means increasing production. Relieving some of these taxes would help too. States get between 25 and 60 cents (IIRC) on each gallon, the feds get some more, and some municipalities add more. The company gets a few pennies, yes pennies. The reason they make billions is VOLUME.
Here's a profit comparison chart:
![](http://www.conocophillips.com/NR/rdonlyres/11E1D154-487D-4B39-878D-25E8FE7C6C33/0/ProfitsOilVsOtherIndust3rdQ2005.gif)
#18
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Credit card?
Did your wife use a credit card? If so, the station will do an authorization (automatically) to ensure getting paid and they probably do it for $50 which means they are going to stop the pump at that point. That amount is usually more than what most people put in their tanks on a fill up - or at least used to be more.
Came accross this when I moved. The truck took diesel, which stopped at $60.
Came accross this when I moved. The truck took diesel, which stopped at $60.
#19
contrarian in fashion
times like this i wish i were rich.... wouldnt have to worry bout gas prices... just if gas runs out... is that possible??? and i hope somewhere they are creating a gas substitute that can be used in our everyday beaters
![Wish](https://acurazine.com/forums/images/smilies/wish.gif)
#20
Originally Posted by paranode
Here's a profit comparison chart:
![](http://www.conocophillips.com/NR/rdonlyres/11E1D154-487D-4B39-878D-25E8FE7C6C33/0/ProfitsOilVsOtherIndust3rdQ2005.gif)
![](http://www.conocophillips.com/NR/rdonlyres/11E1D154-487D-4B39-878D-25E8FE7C6C33/0/ProfitsOilVsOtherIndust3rdQ2005.gif)
For example, take a look at how "below average" Exxon Mobil did last year:
"At Exxon Mobil, a Record Profit but No Fanfare (New York Times)
HOUSTON, Jan. 30 - Exxon Mobil, aided by strong energy prices, disclosed Monday that it had set a record for profits among American companies, reporting $36 billion in annual income. But while most companies would be proud to trumpet record profits, Exxon Mobil did everything it could to play down the news.
For Exxon Mobil, which also handily widened its lead over Wal-Mart as the company with the largest revenues in the nation, the report was an embarrassment of riches. Anxious about criticism of the results, executives began laying the groundwork months ago to try to prevent a political reaction against the company and the energy industry.
For example, Exxon Mobil paid for advertisements in leading newspapers arguing that profit margins in the industry lagged far behind those of other industries, like pharmaceuticals and banking.
Still, growing oil profits are generating new scrutiny of the industry, with legislators and taxpayer groups expressing concern over Big Oil's good fortune, as soaring energy prices put increasing pressure on the pocketbooks of consumers.
"If it's Google, no one asks about the profits because they're too busy buying the stock," said Amy Myers Jaffe, associate director of the energy program at Rice University. "Exxon is different. We have these emotional feelings related to gasoline because there's no readily available substitute."
Exxon Mobil's results on Monday, of course, caused jaws to drop; by some measures, the company became richer than some of the world's most pivotal oil-producing nations. Exxon Mobil reported a 27 percent surge in profit for the fourth quarter as elevated fuel prices gave rise to a full-year profit in 2005 of $36.13 billion on revenue of $371 billion. Exxon Mobil said its overall profit climbed more than 40 percent last year, while its tax bill rose only 14 percent.
"It's outrageous for big oil to be making these kinds of profits," said Representative Eliot L. Engel. Mr. Engel, a Democrat from New York, has sponsored legislation with a leading House Republican, Representative Jack Kingston of Georgia, to provide new incentives for alternative fuels and energy conservation technologies.
"We don't need any more tax breaks for the industry, any more sops to the industry that's making record profits," Mr. Engel said.
Gasoline prices at the pump are rising again, with the average price of regular unleaded gasoline up nearly 7 percent from a month ago, to $2.34 a gallon, according to AAA, the automobile club.
In one measure of Exxon Mobil's wealth and influence, its revenue of $371 billion surpassed the $245 billion gross domestic product of Indonesia, an OPEC member and the world's fourth most populous country, with 242 million people.
The company's huge profit report came as no surprise to the White House or to lawmakers in either party, but it arrived just as Congress was preparing to resume a fight over imposing a one-time windfall profits tax on the major oil companies.
Last fall, the Republican-controlled Senate passed a bill to extend about $60 billion worth of tax cuts over the next five years, but it also included a provision that would impose a one-year tax increase of $5 billion on the nation's largest oil companies. The measure is unlikely to survive. President Bush has already threatened to veto the tax bill if it includes the tax on oil companies, and House Republicans included no comparable measure in their own tax bill.
Another measure approved in the Senate would effectively remove the foreign tax credit that the nation's three largest oil companies, Exxon Mobil, Chevron and ConocoPhillips, receive for taxes paid in other countries. Most energy analysts do not see the measures winning approval in the House, but Exxon Mobil executives remain concerned.
"We take these issues very seriously," said Mark Boudreaux, a company spokesman. "We realized that we needed to do a better job of explaining how the industry works."
To help make its case, the company organized slide shows for groups of journalists ahead of the report, explaining that its operations accounted for only 3 percent of global oil production.
Republican lawmakers were on the defensive on Monday. Not only are they under heavy pressure from party leaders and from the White House to kill the proposed tax on oil companies, but they also inserted more than $2 billion in additional tax breaks for oil and gas companies in the energy bill that Congress passed last November.
A spokesman for the House speaker, J. Dennis Hastert, said the oil companies had to explain themselves better and to offer more information on their plans to lower fuel prices by expanding their refining capacity in the United States.
"The message from the speaker is that oil companies need to do more work to bring oil and gas prices down," said Ron Bonjean, a spokesman for Mr. Hastert, who is scheduled to meet on Tuesday with the president of the American Petroleum Institute.
"Companies make profits, and that's O.K.," Mr. Bonjean said. "But when you're dealing with a family's bottom line, we'd like to see some kind of plan to address rising costs."
Executives at Exxon Mobil, which is based in Irving, Tex., have been trying in recent weeks to reposition the public discussion of the company's profit by comparing the industry's results to those of other industries.
For instance, pharmaceutical companies earned 18.6 cents for each dollar of sales in the third quarter of 2005, and banks 18 cents, compared with 8.2 cents at oil and natural gas companies, said Mr. Boudreaux, the Exxon Mobil spokesman.
Still, the company's profits stand out by almost every measure. Exxon Mobil's profit last year of $36.1 billion easily surpassed the earlier record of $25.3 billion, which Exxon Mobil had set in 2004, according to Howard Silverblatt, senior index analyst at Standard & Poor's in New York. Among industrial companies, only the Ford Motor Company's profit of $22 billion in 1998 comes close to Exxon Mobil's success in recent memory, Mr. Silverblatt said. Wal-Mart, in the year that ended Jan. 31, 2005, had net income of about $10.3 billion on sales of $285 billion.
Exxon Mobil's profit climbed last year thanks largely to higher prices for oil and natural gas, but also for other reasons, including higher margins at its refineries, the start of oil production at a project on Sakhalin Island in Russia's Far East and a gain from the sale of a stake in Sinopec, an energy concern controlled by China's government.
Exxon Mobil shares surged to $63.11, up $1.82, or 2.97 percent. However, even as investors applauded Exxon Mobil's new chief executive, Rex W. Tillerson, who succeeded Lee R. Raymond at the start of this year, Exxon Mobil's results masked potentially weaker profits if oil and gas prices begin to decline.
Production on an oil-equivalent basis at Exxon Mobil's oil fields around the world declined 1 percent in 2005, excluding stoppages at platforms in the Gulf of Mexico from last year's hurricanes. This illustrates an industrywide problem: an inability to tap into the world's richest oil exploration areas in the Middle East and Venezuela because of political barriers.
"Lack of access to new reserves is the most important problem Exxon and the other large oil companies are facing," said Michael J. Economides, an influential professor of chemical engineering at the University of Houston. "It should make them paranoid about the future."
Political uncertainties in oil-rich nations, however, also worked in Exxon Mobil's favor in recent months, as concern over Iran's nuclear ambitions and tension in Nigeria and Venezuela kept oil prices high.
Crude oil prices have doubled in the last two years, driven largely by strong demand in the rising economies of Asia and in the United States, which alone consumes about a quarter of the world's oil production.
Oil for March delivery rose Monday to $68.35 a barrel, up 59 cents, in New York trading.
Part of the reason for Exxon Mobil's quarterly gains was that oil and natural gas prices were driven higher by Hurricanes Rita and Katrina; profit climbed to $10.7 billion in the quarter from $8.42 billion.
Revenue in the quarter reached $99.7 billion, an increase of 20 percent.
Some Democratic lawmakers pounced on the Exxon Mobil profit report to attack Republicans' recent willingness to give the industry additional tax incentives at a time of record profits.
"A real bill should concentrate on alternative fuels, corn and ethanol and hybrid cars and all these new technologies," said Mr. Engel, the Democratic congressman from New York. "
HOUSTON, Jan. 30 - Exxon Mobil, aided by strong energy prices, disclosed Monday that it had set a record for profits among American companies, reporting $36 billion in annual income. But while most companies would be proud to trumpet record profits, Exxon Mobil did everything it could to play down the news.
For Exxon Mobil, which also handily widened its lead over Wal-Mart as the company with the largest revenues in the nation, the report was an embarrassment of riches. Anxious about criticism of the results, executives began laying the groundwork months ago to try to prevent a political reaction against the company and the energy industry.
For example, Exxon Mobil paid for advertisements in leading newspapers arguing that profit margins in the industry lagged far behind those of other industries, like pharmaceuticals and banking.
Still, growing oil profits are generating new scrutiny of the industry, with legislators and taxpayer groups expressing concern over Big Oil's good fortune, as soaring energy prices put increasing pressure on the pocketbooks of consumers.
"If it's Google, no one asks about the profits because they're too busy buying the stock," said Amy Myers Jaffe, associate director of the energy program at Rice University. "Exxon is different. We have these emotional feelings related to gasoline because there's no readily available substitute."
Exxon Mobil's results on Monday, of course, caused jaws to drop; by some measures, the company became richer than some of the world's most pivotal oil-producing nations. Exxon Mobil reported a 27 percent surge in profit for the fourth quarter as elevated fuel prices gave rise to a full-year profit in 2005 of $36.13 billion on revenue of $371 billion. Exxon Mobil said its overall profit climbed more than 40 percent last year, while its tax bill rose only 14 percent.
"It's outrageous for big oil to be making these kinds of profits," said Representative Eliot L. Engel. Mr. Engel, a Democrat from New York, has sponsored legislation with a leading House Republican, Representative Jack Kingston of Georgia, to provide new incentives for alternative fuels and energy conservation technologies.
"We don't need any more tax breaks for the industry, any more sops to the industry that's making record profits," Mr. Engel said.
Gasoline prices at the pump are rising again, with the average price of regular unleaded gasoline up nearly 7 percent from a month ago, to $2.34 a gallon, according to AAA, the automobile club.
In one measure of Exxon Mobil's wealth and influence, its revenue of $371 billion surpassed the $245 billion gross domestic product of Indonesia, an OPEC member and the world's fourth most populous country, with 242 million people.
The company's huge profit report came as no surprise to the White House or to lawmakers in either party, but it arrived just as Congress was preparing to resume a fight over imposing a one-time windfall profits tax on the major oil companies.
Last fall, the Republican-controlled Senate passed a bill to extend about $60 billion worth of tax cuts over the next five years, but it also included a provision that would impose a one-year tax increase of $5 billion on the nation's largest oil companies. The measure is unlikely to survive. President Bush has already threatened to veto the tax bill if it includes the tax on oil companies, and House Republicans included no comparable measure in their own tax bill.
Another measure approved in the Senate would effectively remove the foreign tax credit that the nation's three largest oil companies, Exxon Mobil, Chevron and ConocoPhillips, receive for taxes paid in other countries. Most energy analysts do not see the measures winning approval in the House, but Exxon Mobil executives remain concerned.
"We take these issues very seriously," said Mark Boudreaux, a company spokesman. "We realized that we needed to do a better job of explaining how the industry works."
To help make its case, the company organized slide shows for groups of journalists ahead of the report, explaining that its operations accounted for only 3 percent of global oil production.
Republican lawmakers were on the defensive on Monday. Not only are they under heavy pressure from party leaders and from the White House to kill the proposed tax on oil companies, but they also inserted more than $2 billion in additional tax breaks for oil and gas companies in the energy bill that Congress passed last November.
A spokesman for the House speaker, J. Dennis Hastert, said the oil companies had to explain themselves better and to offer more information on their plans to lower fuel prices by expanding their refining capacity in the United States.
"The message from the speaker is that oil companies need to do more work to bring oil and gas prices down," said Ron Bonjean, a spokesman for Mr. Hastert, who is scheduled to meet on Tuesday with the president of the American Petroleum Institute.
"Companies make profits, and that's O.K.," Mr. Bonjean said. "But when you're dealing with a family's bottom line, we'd like to see some kind of plan to address rising costs."
Executives at Exxon Mobil, which is based in Irving, Tex., have been trying in recent weeks to reposition the public discussion of the company's profit by comparing the industry's results to those of other industries.
For instance, pharmaceutical companies earned 18.6 cents for each dollar of sales in the third quarter of 2005, and banks 18 cents, compared with 8.2 cents at oil and natural gas companies, said Mr. Boudreaux, the Exxon Mobil spokesman.
Still, the company's profits stand out by almost every measure. Exxon Mobil's profit last year of $36.1 billion easily surpassed the earlier record of $25.3 billion, which Exxon Mobil had set in 2004, according to Howard Silverblatt, senior index analyst at Standard & Poor's in New York. Among industrial companies, only the Ford Motor Company's profit of $22 billion in 1998 comes close to Exxon Mobil's success in recent memory, Mr. Silverblatt said. Wal-Mart, in the year that ended Jan. 31, 2005, had net income of about $10.3 billion on sales of $285 billion.
Exxon Mobil's profit climbed last year thanks largely to higher prices for oil and natural gas, but also for other reasons, including higher margins at its refineries, the start of oil production at a project on Sakhalin Island in Russia's Far East and a gain from the sale of a stake in Sinopec, an energy concern controlled by China's government.
Exxon Mobil shares surged to $63.11, up $1.82, or 2.97 percent. However, even as investors applauded Exxon Mobil's new chief executive, Rex W. Tillerson, who succeeded Lee R. Raymond at the start of this year, Exxon Mobil's results masked potentially weaker profits if oil and gas prices begin to decline.
Production on an oil-equivalent basis at Exxon Mobil's oil fields around the world declined 1 percent in 2005, excluding stoppages at platforms in the Gulf of Mexico from last year's hurricanes. This illustrates an industrywide problem: an inability to tap into the world's richest oil exploration areas in the Middle East and Venezuela because of political barriers.
"Lack of access to new reserves is the most important problem Exxon and the other large oil companies are facing," said Michael J. Economides, an influential professor of chemical engineering at the University of Houston. "It should make them paranoid about the future."
Political uncertainties in oil-rich nations, however, also worked in Exxon Mobil's favor in recent months, as concern over Iran's nuclear ambitions and tension in Nigeria and Venezuela kept oil prices high.
Crude oil prices have doubled in the last two years, driven largely by strong demand in the rising economies of Asia and in the United States, which alone consumes about a quarter of the world's oil production.
Oil for March delivery rose Monday to $68.35 a barrel, up 59 cents, in New York trading.
Part of the reason for Exxon Mobil's quarterly gains was that oil and natural gas prices were driven higher by Hurricanes Rita and Katrina; profit climbed to $10.7 billion in the quarter from $8.42 billion.
Revenue in the quarter reached $99.7 billion, an increase of 20 percent.
Some Democratic lawmakers pounced on the Exxon Mobil profit report to attack Republicans' recent willingness to give the industry additional tax incentives at a time of record profits.
"A real bill should concentrate on alternative fuels, corn and ethanol and hybrid cars and all these new technologies," said Mr. Engel, the Democratic congressman from New York. "
#21
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Turbonator?
Anyone here ever try the turbonator? www.turbonator.com
They claim better gas mileage and increased HP for sixty bucks.
They claim better gas mileage and increased HP for sixty bucks.
#22
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Originally Posted by Da-rainman
Anyone here ever try the turbonator? www.turbonator.com
They claim better gas mileage and increased HP for sixty bucks.
They claim better gas mileage and increased HP for sixty bucks.
![rofl](https://acurazine.com/forums/images/smilies/rofl.gif)
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wait... are you serious?
#23
I stand corrected. The figure is representative of even Exxon Mobil. Despite all those profits, it still is 10%. Although definately not the highest of all companies, it isn't exactly the lowest either.
Additional tax on them is not the answer, either.
Additional tax on them is not the answer, either.
#25
With 8.7 billion dollar PROFIT from just one company (Exon) in the first 3 months of the year I'm not feeling sorry for the gas companies. And that is with the low $2 range at the beginning of the year. The funny thing is their stock drops because they thought they'd make more. I'd rather pay higher taxes on gas and know it is going to pave the roads or to lower state taxes than pay for 400 million dollar retirement packages.
#26
Synaesthesia sounds sweet
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Originally Posted by Black_6spd
1. Up to $2000 tax credit -- not deduction. That's HUGE. It all depends on how many take advantage of this Hybrid perk.
2. HOV lane access - last time I checked, only the Prius, Insight, Civic, and one other car I can't remember can use the HOV with no passenger in CA.
2. HOV lane access - last time I checked, only the Prius, Insight, Civic, and one other car I can't remember can use the HOV with no passenger in CA.
Granted you'll save some cash on better gas milage but at the expense of driving a roller skate.
Our nation is one full of independent people wanting to travel wherever whenever. Our lifestyles have many costs involved and we have to accept that or give up some freedom (ie: public trasport or money).
The supply of existing oil is only going down so the price will continually go up. We have options to procure oil in more places. However laws and lobbiest are preventing us from exploring these options. Ironically the politicians show up to press conferences in SUV caravans and moan about price fixing.
Ethanol from biomass is a good interum solution until we can all drive solar powered cars. Currently corn cobs are used but not the stalks or other plants where the whole plant is not used. Research has solutions to fix this in the next few years and make ethanol production more efficient. This is also a cyclical option due to the fact the plants will have produced oxygen into the atmosphere before our vehicles would combust the ethanol and release CO2.
I will probably change my driving habits if the price was to go over 5 bucks.
#28
sorry to get off topic, black_6spd, wut year and color is your Pilot?
i got a 2004 EX-LNAV in silver
are you also a member of hondapilot.org?
i rarely use the pilot now (only if im carrying a lot of people or need to buy sumthin big) due to gas prices, the TSX is awesome, i get 29 mpg
its better than my 2001 Altima, which gives me about 22 mpg
i got a 2004 EX-LNAV in silver
are you also a member of hondapilot.org?
i rarely use the pilot now (only if im carrying a lot of people or need to buy sumthin big) due to gas prices, the TSX is awesome, i get 29 mpg
its better than my 2001 Altima, which gives me about 22 mpg
#29
Originally Posted by PimpCL23
times like this i wish i were rich.... wouldnt have to worry bout gas prices... just if gas runs out... is that possible??? and i hope somewhere they are creating a gas substitute that can be used in our everyday beaters ![Wish](https://acurazine.com/forums/images/smilies/wish.gif)
![Wish](https://acurazine.com/forums/images/smilies/wish.gif)
![](http://surbrook.devermore.net/adaptionsmovie/max.jpg)
#30
Drifting
Originally Posted by LuvMyTSX
Ditto. Foreign "issues" are not helping, either. Not to mention China's increased use of oil, all the SUVs, etc.....but I don't want to get into all that.
My mom drives a compact car (Chrysler Cirrus) that has a V6, and it's only rated at 19/27 mpg! It's got about 112k on it now (plus a tranny leak) and I keep trying to convince my parents to give it up and get a Civic, but they don't want another car payment now, as they're still paying off a Sebring.
I'm just happy I moved closer to work and instead of an hour commute, I only have 5 minutes, so I'm using far less gas than I was before.
My mom drives a compact car (Chrysler Cirrus) that has a V6, and it's only rated at 19/27 mpg! It's got about 112k on it now (plus a tranny leak) and I keep trying to convince my parents to give it up and get a Civic, but they don't want another car payment now, as they're still paying off a Sebring.
I'm just happy I moved closer to work and instead of an hour commute, I only have 5 minutes, so I'm using far less gas than I was before.
Yea, China's increased consumption has had a pretty big impact as well. it used to be that the majority could not afford cars because of the manipulated exchange rate. now they are producing their own (knock offs at that) and they are being sold for dirt cheap. Having a car in China is a "status" thing because of the culture. So of course everybody wants to have one because it's "high class". Person transportation there now accounts for 75% of their fuel consumption. Not saying that they dont have the right to drive... but this is getting a little out of hand. It's not possible to have 1 billion chinese all driving in that country. There'd be no room to drive around.
#31
Team Owner
iTrader: (1)
Originally Posted by Alin10123
Yea, China's increased consumption has had a pretty big impact as well. it used to be that the majority could not afford cars because of the manipulated exchange rate. now they are producing their own (knock offs at that) and they are being sold for dirt cheap. Having a car in China is a "status" thing because of the culture. So of course everybody wants to have one because it's "high class". Person transportation there now accounts for 75% of their fuel consumption. Not saying that they dont have the right to drive... but this is getting a little out of hand. It's not possible to have 1 billion chinese all driving in that country. There'd be no room to drive around.
#32
Instructor
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I am in the USA at the moment (from Australia) and a little amused at all this fuss over gas prices. It is on the news all the time - all the papers etc.
Perhaps for one moment you guys should think about what gas prices have been in countries outside the USA for MANY years. Travel to Europe, go to the UK - even Australia. Then maybe you will realise how good you have it - even now at $3 per gallon.
Reality check people! I really hope this is the end of your SUV boom - it is ridiculous some of the vehicles you guys drive here.
Perhaps for one moment you guys should think about what gas prices have been in countries outside the USA for MANY years. Travel to Europe, go to the UK - even Australia. Then maybe you will realise how good you have it - even now at $3 per gallon.
Reality check people! I really hope this is the end of your SUV boom - it is ridiculous some of the vehicles you guys drive here.
#33
Senior Moderator
Originally Posted by CGTSX2004
There aren't even nearly as many personally owned cars in China as there are the majority of US states.
Unfortunately, gas prices just aren't going to go back down to where we're comfortable with it, so we just have to find a way to deal with it. Too bad no one has a real solution yet. It might be a while until we do.....it will have to sink in to everyone that prices are going to stay this way (or increase), and when it does, we might actually come up with a reasonable solution. Until then, the blame game continues. It's time to accept reality.
#34
She said: it's GINORMOUS!
look at these tools trying to save face, http://www.msnbc.msn.com/id/12521259 - i propose 1) displacement tax on the engine size like europe - reallocate that $$ to building public transportation 2) get rid of lobbying contributions all together so REAL laws can be enacted. i will see pigs fly before i see either proposals coming true.
back on topic, yes, i love the tsx on gas. it gets me very good milage so i ain't worried about $4 gas. my friend has a 33 mile commute from LI - ain't driving his G35 now, i tell him who's the sucker now
back on topic, yes, i love the tsx on gas. it gets me very good milage so i ain't worried about $4 gas. my friend has a 33 mile commute from LI - ain't driving his G35 now, i tell him who's the sucker now
![Tongue](https://acurazine.com/forums/images/smilies/tongue.gif)
#35
Originally Posted by yfin
I am in the USA at the moment (from Australia) and a little amused at all this fuss over gas prices. It is on the news all the time - all the papers etc.
Perhaps for one moment you guys should think about what gas prices have been in countries outside the USA for MANY years. Travel to Europe, go to the UK - even Australia. Then maybe you will realise how good you have it - even now at $3 per gallon.
Reality check people! I really hope this is the end of your SUV boom - it is ridiculous some of the vehicles you guys drive here.
Perhaps for one moment you guys should think about what gas prices have been in countries outside the USA for MANY years. Travel to Europe, go to the UK - even Australia. Then maybe you will realise how good you have it - even now at $3 per gallon.
Reality check people! I really hope this is the end of your SUV boom - it is ridiculous some of the vehicles you guys drive here.
Not saying it's right, but it's fact.
2. Most of what you guys are paying is gov't taxation.
I for one am glad I kept my beater Sentra - 45 mpg on regular
![Thumbs Up](https://acurazine.com/forums/images/smilies/thumbsup.gif)
#36
Originally Posted by LuvMyTSX
In China's case, the oil issues are due more to increased manufacturing than to personal vehicles. China is using much more oil now than they have in the past due to increased industry going on there.
Honestly, I think the next economy is going to be the hydrogen economy. To me it seems feasible with extraction will arising from renewable sources (windmills, wave power, solar, etc.). It's amazing how we transitions economies, once a wood, then a coal, and now a oil economy.
I think also nuclear power is a very formidable energy source when properly handled. Problem is public perception, however you can get a great amount of energy from a nuclear source. Case in point, Diablo Canyon has a peak generation of 2200 MW of electricity per day. That's freakin amazing in my book as compared to a gas turbine generator which requires a significant amount of gas consumption.
#37
Synaesthesia sounds sweet
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hydrogen might workout however we currently only procure hydrogen through breaking apart water or from petroleum. Breaking apart water requires a great deal of energy and, unless we go nuclear, releases a great deal of CO2 into the atmosphere from our coal and natural gas burning plants. Breaking up petroleum takes little energy but still keeps us in the same trap.
Also driving a mini Hindenburg doesn't apeal to me. But I'm sure a the technology is there to make a bullet-proof/indestructable tank.
Also driving a mini Hindenburg doesn't apeal to me. But I'm sure a the technology is there to make a bullet-proof/indestructable tank.
![Wish](https://acurazine.com/forums/images/smilies/wish.gif)
#38
Originally Posted by Schizm
Also driving a mini Hindenburg doesn't apeal to me. But I'm sure a the technology is there to make a bullet-proof/indestructable tank. ![Wish](https://acurazine.com/forums/images/smilies/wish.gif)
![Wish](https://acurazine.com/forums/images/smilies/wish.gif)
The problem is distance, current tanks are capable around 5000 psi or was it gallons? Anyway, the range is only around 100-200 miles on this tank. They are experimenting with 10,000 psi or gallons, whatever it maybe, to give larger range distances. Those in my opinion might be a bit more of a concern.
#40
Drifting
Originally Posted by CGTSX2004
There aren't even nearly as many personally owned cars in China as there are the majority of US states.