THE BORE

General => The Superdeep Borehole => Topic started by: GilloD on June 13, 2008, 07:51:59 PM

Title: Exxon: "We ran out of room to hold all the money"
Post by: GilloD on June 13, 2008, 07:51:59 PM

Quote

Exxon says the US retail gas station market is "too challenging" and they'll be selling the roughly 2,220 service stations the company owns. There are 12,000 Exxon/Mobil branded stations in the United States, but about 75 percent are already owned by others

To be fair, my sister works for an oil middleman and they're making a fucking MINT right now. Like billions over last year. I'd close my pain-in-the-ass stations, too. In the future, there will be no gas stations, just companies trading oil between each other.

Title: Re: Exxon: "We ran out of room to hold all the money"
Post by: FlameOfCallandor on June 13, 2008, 07:58:45 PM

Oil companies profits hover around 9% which is about right for most business. The cost of Oil has been driven up by speculators by (some estimates) 60%

By lowering interest rates and giving money to banks, the Fed has allowed this to happen. People expect inflation. They must invest in things that will not lose value during an inflationary period. (e.g. oil and food). Of course, that raises the price of oil and food. Inflation becomes a self-fulfilling prophecy. Also, lowering interest rates substantially below the EU's forced investors to move their dollars into the Euro, which has killed the dollar, and therefore raised the price of oil and food.

Title: Re: Exxon: "We ran out of room to hold all the money"
Post by: Scurvy Stan on June 14, 2008, 06:46:17 PM

I wish I had a car that ran on farts.

Title: Re: Exxon: "We ran out of room to hold all the money"
Post by: Trent Dole on June 15, 2008, 12:34:25 AM

Fuel up by stoppin' at the Bell, huh? I could stand having a fartmobile.