quote:
When oil companies were making record profits they didn't give a shite about the common man. Tell your execs to take a pay cut to help the workers when the market is down.

I bet those who post this argument are ok paying for an Iphone with Apple's net profit margin absolutely crushing that of Exxon's.

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Posted by LSU7096

Member since May 2004

3041 posts

Posted on 4/21/16 at 12:47 pm to UKWildcatsFAN

The US oil companies don't control the price, it is set u by supply and demand. OPEC controls this historically and your $4 gas made them rich.

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Posted by The First Cut

Member since Apr 2012

14817 posts

Posted on 4/21/16 at 12:51 pm to UKWildcatsFAN

quote:
I call bullshite because with that kind of money to be made, price fixin has to occur. That's not the market.

This is one of the single most ignorant things I have ever read. The only control a company has in a commodity market is to not sell - which is obviously not what has happened here. The margins on oil production are very small, the money is made because of the high volume of sales.

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Posted by The First Cut

Member since Apr 2012

14817 posts

Posted on 4/21/16 at 12:56 pm to Scrowe

quote:
I bet those who post this argument are ok paying for an Iphone with Apple's net profit margin absolutely crushing that of Exxon's

Don't you know, Apple isn't greedy because they produce what people want to buy. Exxon is greedy because Exxon sells what people have to buy.

Apple's gross margin is exponentially higher than Exxon's. Who's greedy? The real answer is none of the above. Profits are necessary for investors to gain a return on their investment risk. No return means no investment which means no jobs and lower standards of living. Don't tell this to the utopian rainbow chasing Sanders voters though.

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Posted by The First Cut

Member since Apr 2012

14817 posts

Posted on 4/21/16 at 12:58 pm to LSU$$$

quote:
The Big Mac is priced based on a couple of things: 1. The aggregate food cost associated with producing the item which includes raw ingredients, labor involved in said item, research and development of said item, and cost of supply chain maintenance for the future raw ingredients 2. The perceived value based on pricing structure for similar items sold by competitors. That second part is where you can't just randomly jack up the price to cover any and all costs

]

Margins are based on costs versus selling prices. Selling prices are based on what the market will bear - the equilibrium price.

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Posted by LSU7096

Member since May 2004

3041 posts

Posted on 4/21/16 at 1:03 pm to JL

I have done Expat jobs for 9 of 11 years. Good life experiences and financially rewarding. At 43 I had house paid off, college funds for my kid, and a nice chunk in savings.

No truck nutz, boats, etc here, just a NORMAL life and I am thankful for being where I am financially.

I hope all of you realize that in 2 years there will be about a 500K to 1MM bbl per day shortage of oil, and prices will be back around $80 / bbl with gas prices doubling.

OPEC is a cartel which manipulates prices for their benefit, for so many "educated" people on here it's suprising they don't realize that the Saudis are establishing market share buy putting people out of work while forcing future oil production to be delayed. They wil be the biggest winners of the PRICE crash they engineered, as they will make a premium when they decide to curtail production. They are also buying their own refineries in S. Korea and in the USA to be able to force their product into those markets.

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