I'd say that earning $70 Billion collectively over the last two quarters is profiteering. It's certainly a lot more than just "a nice profit."They are not profiteering, although they are making a nice profit. If they were to cut their profit in half, I'd imagine gas would go down in price a surprisingly small amount.
Its all in the numbers. In '07 we consumed approximately 20,730,000 barrels of oil a day. That works out 870,660,000 gallons of oil. A day. That means that in a quarter, 91 days, we consume 79,230,060,000 gallons of oil. If big oil is making $35,000,000,000 per quarter, than they are making 44.17¢ a gallon, on average. Thats hardly profiteering!I'd say that earning $70 Billion collectively over the last two quarters is profiteering. It's certainly a lot more than just "a nice profit."They are not profiteering, although they are making a nice profit. If they were to cut their profit in half, I'd imagine gas would go down in price a surprisingly small amount.
About the only thing that I agree with in your entire statement is that "it is all in the numbers". And the first rule of statistics is that you can make them say anything you want if you just work hard enough and long enough.Its all in the numbers. In '07 we consumed approximately 20,730,000 barrels of oil a day. That works out 870,660,000 gallons of oil. A day. That means that in a quarter, 91 days, we consume 79,230,060,000 gallons of oil. If big oil is making $35,000,000,000 per quarter, than they are making 44.17¢ a gallon, on average. Thats hardly profiteering!I'd say that earning $70 Billion collectively over the last two quarters is profiteering. It's certainly a lot more than just "a nice profit."They are not profiteering, although they are making a nice profit. If they were to cut their profit in half, I'd imagine gas would go down in price a surprisingly small amount.
Hell, wipe out their profit. If they make 1 cent a gallon, 8 billion a quarter, than gas at my local station would now cost $3.21 instead of $3.64! Oh gee, I'm in the money now!
Profit is usually considered as a percentage. The price of putting the fuel to the pump increased 75%. Profit did the same. It really isn't profiteering. Profiteering would be increasing your percentage.About the only thing that I agree with in your entire statement is that "it is all in the numbers". And the first rule of statistics is that you can make them say anything you want if you just work hard enough and long enough.Its all in the numbers. In '07 we consumed approximately 20,730,000 barrels of oil a day. That works out 870,660,000 gallons of oil. A day. That means that in a quarter, 91 days, we consume 79,230,060,000 gallons of oil. If big oil is making $35,000,000,000 per quarter, than they are making 44.17¢ a gallon, on average. Thats hardly profiteering!I'd say that earning $70 Billion collectively over the last two quarters is profiteering. It's certainly a lot more than just "a nice profit."They are not profiteering, although they are making a nice profit. If they were to cut their profit in half, I'd imagine gas would go down in price a surprisingly small amount.
Hell, wipe out their profit. If they make 1 cent a gallon, 8 billion a quarter, than gas at my local station would now cost $3.21 instead of $3.64! Oh gee, I'm in the money now!
Sure, trivialized like you've presented things it doesn't seem like a lot, and that assumes that the numbers that you've reported are correct. But to a family that's trying to figure out how to get dad to work each week while still putting food on the table, that 43 cents on a gallon profit is a lot of money. In fact based upon one 15 gallon fill up per week, that's $335 per year that they can't spend on food.
And then you're not calculating the impact of those 43 cents on everything else in life. Things like higher electricity prices, higher food costs, higher clothing costs, and just about everything else that is impacted by the higher fuel costs. To an average family, that could well represent several thousand dollars by the end of the year.
Finally, since you like small numbers, if one used to make a 10 cent per gallon profit and is now making a 40 cent per gallon profit, that's a 75% increase. The definition of profiteering is taking an excessive profit on something. I'd say that a 75% increase, even if the increase is on pennies, is still excessive.
Oh Whaaaaaaaa... someone call the wambulance because some big bad oil company is making a profit. Oh the evils of oil...About the only thing that I agree with in your entire statement is that "it is all in the numbers". And the first rule of statistics is that you can make them say anything you want if you just work hard enough and long enough.Its all in the numbers. In '07 we consumed approximately 20,730,000 barrels of oil a day. That works out 870,660,000 gallons of oil. A day. That means that in a quarter, 91 days, we consume 79,230,060,000 gallons of oil. If big oil is making $35,000,000,000 per quarter, than they are making 44.17¢ a gallon, on average. Thats hardly profiteering!I'd say that earning $70 Billion collectively over the last two quarters is profiteering. It's certainly a lot more than just "a nice profit."They are not profiteering, although they are making a nice profit. If they were to cut their profit in half, I'd imagine gas would go down in price a surprisingly small amount.
Hell, wipe out their profit. If they make 1 cent a gallon, 8 billion a quarter, than gas at my local station would now cost $3.21 instead of $3.64! Oh gee, I'm in the money now!
Sure, trivialized like you've presented things it doesn't seem like a lot, and that assumes that the numbers that you've reported are correct. But to a family that's trying to figure out how to get dad to work each week while still putting food on the table, that 43 cents on a gallon profit is a lot of money. In fact based upon one 15 gallon fill up per week, that's $335 per year that they can't spend on food.
And then you're not calculating the impact of those 43 cents on everything else in life. Things like higher electricity prices, higher food costs, higher clothing costs, and just about everything else that is impacted by the higher fuel costs. To an average family, that could well represent several thousand dollars by the end of the year.
Finally, since you like small numbers, if one used to make a 10 cent per gallon profit and is now making a 40 cent per gallon profit, that's a 75% increase. The definition of profiteering is taking an excessive profit on something. I'd say that a 75% increase, even if the increase is on pennies, is still excessive.
What's ironic about your statements is that those same European countries where gas is so expensive are, for the most part, "leftist leaning", and more environmentally friendly. And most of them have social safety nets. And they also have more trains, which generally run on time. And in many places, they make fine "wine" too.Holly cow, I'm sick of cry babies. Other places have and are paying much more for fuel. Try buying fuel in Europe for under $4 a gallon, I dare you!
How abouts we point the fingers at ourselves. Spoiled at low gas prices. Yell and complain and not allow any refineries to be built.... moan and groan about foreign oil when we could be drilling locally but environmental lobbies wail and moan and we shirk out of fear and miss-information... Oh you generation of complaining, wining, finger pointing , silly, economically clueless, leftest leaning, didn't bother to pick yourself up and make something of yourself, cry babies and the politico's and left wing press that are pandering to you.
The train economy in Europe vs. that here in the states is so different. I love trains, I love Amtrak, but really... you can't compare the US to Europe. It's just not the same playing field for a number of reasons.What's ironic about your statements is that those same European countries where gas is so expensive are, for the most part, "leftist leaning", and more environmentally friendly. And most of them have social safety nets. And they also have more trains, which generally run on time. And in many places, they make fine "wine" too.Holly cow, I'm sick of cry babies. Other places have and are paying much more for fuel. Try buying fuel in Europe for under $4 a gallon, I dare you!
How abouts we point the fingers at ourselves. Spoiled at low gas prices. Yell and complain and not allow any refineries to be built.... moan and groan about foreign oil when we could be drilling locally but environmental lobbies wail and moan and we shirk out of fear and miss-information... Oh you generation of complaining, wining, finger pointing , silly, economically clueless, leftest leaning, didn't bother to pick yourself up and make something of yourself, cry babies and the politico's and left wing press that are pandering to you.![]()
So, your point is that being leftist makes you more environmentally friendly? That having social safety nets makes the trains run on time? That they drink wine instead of buy gas? That they drink wine on a train so they forget the 70% tax rate bite coming out of their checks for that social safety net and all the requisite waste and corruption?What's ironic about your statements is that those same European countries where gas is so expensive are, for the most part, "leftist leaning", and more environmentally friendly. And most of them have social safety nets. And they also have more trains, which generally run on time. And in many places, they make fine "wine" too.Holly cow, I'm sick of cry babies. Other places have and are paying much more for fuel. Try buying fuel in Europe for under $4 a gallon, I dare you!
How abouts we point the fingers at ourselves. Spoiled at low gas prices. Yell and complain and not allow any refineries to be built.... moan and groan about foreign oil when we could be drilling locally but environmental lobbies wail and moan and we shirk out of fear and miss-information... Oh you generation of complaining, wining, finger pointing , silly, economically clueless, leftest leaning, didn't bother to pick yourself up and make something of yourself, cry babies and the politico's and left wing press that are pandering to you.![]()
I agree with you to a point.I still can't understand why people insist on comparing the two. Europe isn't the great train panacea that everyone seems to want to believe it is IMHO. Try getting a *single* train from Libson to, say, Rome. You can't.
While OTOH, I can get MORE than one train from Chicago to LA.
I grant you that they have trains everywhere with respect to smaller distances in a lot of cases.
No doubt... the US is not a train panacea either. But I'm not sure one could justify a DEM-ABQ or ELP-ABQ route either. Maybe, maybe not. It may well be that a bus route for these two makes more sense or if ridership allows, then perhaps rail. What we need are some metrics that clearly define what makes for a good train route, and what does not. It's clear that some routes have demand enough that the states are willing to pony up money to fund them. I'm not sure this is the only metric when determining that a given (money loosing) route is in the best interest of the country, but it is certainly one.I agree with you to a point.I still can't understand why people insist on comparing the two. Europe isn't the great train panacea that everyone seems to want to believe it is IMHO. Try getting a *single* train from Libson to, say, Rome. You can't.
While OTOH, I can get MORE than one train from Chicago to LA.
I grant you that they have trains everywhere with respect to smaller distances in a lot of cases.
Yes, you have more than one train from CHI to LAX, but try to get from DEN-ABQ or ELP-ABQ (a comparable distance to many European runs) in less than 2 days and going almost 1/2 way across the US! Or try to go from HOS-TPA without at least 3 trains!
My point is that you went on and on about how you and your political views are far superior to those of Americans younger than you (in your words, "Oh you generation of wining, finger pointing, silly, economically clueless, leftest leaning..."). In your whole diatribe against young people, you give the strong impression that the entire country is falling apart, due largely to the fact that the younger generations' political views are too liberal and more in line with most Europeans than with your beliefs. And yet you give only one positive examples of people who are apparently "better" than here in America: "Holly cow, I'm sick of cry babies. Other places have and are paying much more for fuel. Try buying fuel in Europe for under $4 a gallon, I dare you!"So, your point is that being leftist makes you more environmentally friendly? That having social safety nets makes the trains run on time? That they drink wine instead of buy gas? That they drink wine on a train so they forget the 70% tax rate bite coming out of their checks for that social safety net and all the requisite waste and corruption?
I don't get your point...
I wasn't talking just about young people. Plenty of 40/50/60 somethings that qualify ....My point is that you went on and on about how you and your political views are far superior to those of Americans younger than you (in your words, "Oh you generation of wining, finger pointing, silly, economically clueless, leftest leaning..."). In your whole diatribe against young people, you give the strong impression that the entire country is falling apart, due largely to the fact that the younger generations' political views are too liberal and more in line with most Europeans than with your beliefs. And yet you give only one positive examples of people who are apparently "better" than here in America: "Holly cow, I'm sick of cry babies. Other places have and are paying much more for fuel. Try buying fuel in Europe for under $4 a gallon, I dare you!"So, your point is that being leftist makes you more environmentally friendly? That having social safety nets makes the trains run on time? That they drink wine instead of buy gas? That they drink wine on a train so they forget the 70% tax rate bite coming out of their checks for that social safety net and all the requisite waste and corruption?
I don't get your point...
So, I just pointed out that the same people you laud for paying high gas prices without being "cry babies" tend to generally disagree with your political views on these same subjects. Furthermore - and just to keep things focused on trains - their train systems are generally better than ours too.
Will that be in a train that averages at least 150 MPH when travelling from Boston to the left coast?*shoves aside real issues*
"Free Amtrak sleeper class travel for all!"?
I am not sure. Part of it (Trinidad, CO to Belen, NM) is the current route of the Southwest Chief, as I am sure you know, so I assume that is 79 or 90 mph track. I believe the entire route would run on all BNSF track (except the state of NM purchased the right-of-way from Raton, NM to Belen for the RailRunner commuter train project). I have personally only ridden from ABQ to Belen on the commuter train...it rocked back-and-forth more than I expected, but to be fair the last time I had ridden a train was at least 20 years before that, so I just may not be remembering what trains are like.Is there existing track on the DEN-ABQ-ELP route that's maintained to standards that would allow for reasonable passenger service?