Since we truck everything across the country (though we have a very good RR system in this country) loads of diesel gets used.
The oil companies had an epiphany that raising the price of diesel would make them more money and BIG Oil is still bigger than the Teamsters so Big Oil Wins!
I think the price of diesel is the bigger reason Exxon-Mobil made $36B in profits last year.

Thirty Six BILLION in profit. Let that roll around the mouth for a minute or two. 36 BILLION. Wow, boggles my puny mind.

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Ginny in Denver-ish
78 300SD, 265K (mine)

That's a scary huge number. Many people in government are also undoubtedly reaping benefits, or else there would be some sort of regulation on energy prices to keep things a little more realistic... lets face it, where are those 36B$ profits actually going? I highly doubt it is going to improving energy technology...

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99 E300 Turbodiesel 100k

I don't have time to do the research but aren't we all aware that the US now requires a lower sulfur content diesel to be sold? That has to cost more to produce. I wonder if the other countries are still allowing a higher sulfur content and cheaper refining process?
Charles

Europe switched to lower sulfur diesel a long time ago, we are just doing that here in US, despite that their cleaner diesels were always priced less than their gasolines, and that was my main question, they are just as dependent as we are, same refining isuues apply to them, so why is diesel priced lower than gas in Europe and higher than gas in the US of A?

Vahe
240D 77

In the UK diesel has been consistently more expensive than gasoline for several years - due to the surging demand for the stuff......

I got a bigger number 404 Billion. That is what they spent to make that 36 billion. I doubt you could understand the significance of it if 36 billion can boggle your puny mind.

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01 Ford Excursion Powerstroke
99 E300 Turbodiesel
91 Vette with 383 motor
05 Polaris Sportsman 800 EFI
06 Polaris Sportsman 500 EFI
03 SeaDoo GTX SC Red
03 SeaDoo GTX SC Yellow
04 Tailgator 21 ft Toy Hauler
11 Harley Davidson 883 SuperLow

And your point is?

Yes, the company spent money. All companies do.
I own TWO businesses, BTW, I'm not unaware of how business
works.
But oil and gas are one of the things that can make or break
the economy.
If fuel prices go up, it costs more to ship things across the country.
When it costs more, the end consumer pays the bill.
If the end consumer cannot afford to pay more for fuel, food,
clothing, etc then they cannot BUY the things needed to go to
work, feed their families and put clothes on their backs.
If the Exxon-Mobils of the country could make a few bucks less
in PROFIT (that what's left AFTER all the bills are paid, BTW)
then maybe those who are in the Have-nots column could afford
fuel, food, medicine, clothing and an occassional night out with
the family.
Notice that I added medicine and the occassional night out.
Medicine is a need that many have to go without because other
things get too expensive (food trucked by diesel trucks across the country).
The occassional night out is needed for the economy to flurish.

So, I get it.
I don't get when anyone other than those rich with oil stocks aren't outraged when oil companies announce $36B in profits when our economy is in the sinker.

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Ginny in Denver-ish
78 300SD, 265K (mine)

Maybe, just maybe, demand is creeping up on supply (oil is getting scarcer and harder to get). Yes I'm talking about peak oil. Yes, I put my flame suit on already.

Or

They're a bunch of bastards that make me constantly broke and take all my pick n pull money

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1981 300SD 512k OM603

What does each business of your's spend and what is the percentage of profit? IIRC, they brought in 404 of which 36 is profit. What is the big deal?

I don't have oil stocks. However, the oil companies have NO obligation to make less or more profits because your economy is in the sinker or if it is doing well.

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01 Ford Excursion Powerstroke
99 E300 Turbodiesel
91 Vette with 383 motor
05 Polaris Sportsman 800 EFI
06 Polaris Sportsman 500 EFI
03 SeaDoo GTX SC Red
03 SeaDoo GTX SC Yellow
04 Tailgator 21 ft Toy Hauler
11 Harley Davidson 883 SuperLow

I disagree.

Please don't quote me, but I beleive XOM owns ~3% of world oil reserves, CVX less, and the rest of the US based companies so little they hardly matter.

None of them set the price for a barrel of oil.

Your complaints should be directed to OPEC for controling output, BRIC for using too darn much and our Fed Gov for creating roadblocks such that exploration is all but impossible except in deep water and that new refineries can't be built due to EIR's to increase our refining capacity.

Where you you when big oil was floundering in the 70's & 80's when oil was stuck at $10 a barrel. I dont think oil broke $30 until almost 2000. Did you bang your drum for them then lobbying for tax credits or bailouts?

Run $10 for 37 years at 3-3.5% inflation and tell what you think you should be paying a barrel.

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Terry Allison
N. Calif. & Boca Chica, Panama

09' E320 Bluetec 77k (USA)
09' Hyundai Santa Fe Diesel 48k (S.A.)

Nope, I was 10-15 years old.

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Ginny in Denver-ish
78 300SD, 265K (mine)

I was the same age in the early 70's. We both should have been beating the drum for them to get whatever breaks/credits they could get then so that they could have increased proven reserves and lessened our dependence on others now. Was a period of Stagflation; not unlike what we are moving toward currently although oil didnt increase in cost then for 20 years. We got a 20 year discount then China and India woke up and took that discount away. Not Big Oils doing, or really OPEC's as they are already pumping close to all they can. What would help most (other than a slowdown in China and India) is if Iraq could pump at capacity, and if Iran's and Venezuela's leadership didnt hate us so much and continualy threaten to reduce supply.

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Terry Allison
N. Calif. & Boca Chica, Panama

09' E320 Bluetec 77k (USA)
09' Hyundai Santa Fe Diesel 48k (S.A.)

Even better than the pizza business if you can believe it. Pizza rolling around inside your mouth still taste better though.
I remember the introduction of pizza in my Toronto neighbourhood a couple of years back. 1.40 for a single choice 9 inch and no or very few customers. That outlet actually did not survive.
Nothing wrong with their product either in my opinion. Especially compared to those cardboard units sold at chain stores in the freezer section now. I can barely stand to eat a slice of them. Probably taste like 36 billion perhaps. Or worse.

Are you serious?! Wow!

Damn! Why didn't I ever buy any Exxon stock? You really can't fight the big corporations. A better strategy is to just invest in them and try to let the dividends offset the cost of living increases.

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" We have nothing to fear but the main stream media itself . . . ."- Adapted from Franklin D Roosevelt for the 21st century

OBK #55

1998 Lincoln Continental - Sold
Max 1984 300TD 285,000 miles - Sold
The Dee8gonator 1987 560SEC 196,000 miles - Sold
Orgasmatron - 2006 CLS500 90,000 miles
2002 C320 Wagon 122,000 miles
2016 AMG GTS 12,000 miles

Do you or do you not want companies to make profits? Do you want US companies to be unprofitable?

I want as many companies - big and small - to make as much profit as possible! Profit is not a dirty word. Profitable companies hire people, thereby keeping out economy out of the "dumper."