Because they switched to GRPlll?????

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Wow, a company is in business to make money? Geez, what will they think of next...

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A smart company is in the business to make sustainable $ year after year. A dumb company wastes its resource, such as the brand equity of Mobil 1, to make short term $ at the expense of future revenue.

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You forget that the members and followers of this forum are probablt .00000000001 % of the people who really understand what you just said....Joe American loves Mobil1 because they put it in Corvettes and Porsches...he would not know if it was 50% water.....so who is dumb?
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Might be true but majority of people could be slow, but they are not dumb all the time.
"You can fool some of the people some of the time and all of the people some of the time, but you can't fool all of the people all of the time." - Abraham Lincoln

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Indians Schmindians...George Custer....
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Making money is what companies are all about. Free enterprise at work. If you don't like their practices and continue to buy from them shame on you. You are the other half of that free enterprise system.

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Capitalism - An economic system based on a free market, open competition, profit motive and private ownership of the means of production. Capitalism encourages private investment and business, compared to a government-controlled economy. Investors in these private companies (i.e. shareholders) also own the firms and are known as capitalists.

Perfect competition means there are few, if any, barriers to entry for new companies, and prices are determined by supply and demand.

Unfortunately, the oil business doesn't include perfect or open competition.

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You got that right!!
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You forget that the members and followers of this forum are probablt .00000000001 % of the people who really understand what you just said....Joe American loves Mobil1 because they put it in Corvettes and Porsches...he would not know if it was 50% water.....so who is dumb?
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You seem to forget that word on the internet travels very fast and has travelled beyond BITOG at this point. Just about everyone in the world who buys Mobil 1, also has access to the internet, and I bet there are a lot more people out there who have heard about the group 3 switch than you think.

And with PP selling for such low prices nowadays, I bet a lot of former M1 users have switched to PP just based on price alone. Little do they realize they are also getting a fantastic oil for that low price.

Mobil 1 has been on top for a long time, but that doesn't mean they'll always be there.
 
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You forget that the members and followers of this forum are probablt .00000000001 % of the people who really understand what you just said....Joe American loves Mobil1 because they put it in Corvettes and Porsches...he would not know if it was 50% water.....so who is dumb?
blush.gif


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You seem to forget that word on the internet travels very fast and has travelled beyond BITOG at this point. Just about everyone in the world who buys Mobil 1, also has access to the internet, and I bet there are a lot more people out there who have heard about the group 3 switch than you think.

And with PP selling for such low prices nowadays, I bet a lot of former M1 users have switched to PP just based on price alone. Little do they realize they are also getting a fantastic oil for that low price.

Mobil 1 has been on top for a long time, but that doesn't mean they'll always be there.

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Former M1 user just bought 24 qts of PP.

I love the free market.
 
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How much SHOULD gasoline cost? How do you know that?

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Wait till these "oil industry know-it all's" see the price of gas when the sulfur rules take effect.... Just can't wait to see the "rational" explanations they have for that...
 
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How much SHOULD gasoline cost? How do you know that?

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OK, I'll give you an example that the oil industry used a few years ago, when the Oz $ was 45cUS, and oil was $45U.S. per barrel.

Petrol was $1 per litre, and the natives were restless, as even I remembered my Dad complaining at $12 for a 50 litre tank.

The explaination that they gave was that the falling Oz dollar and the increasing crude price was impacting our petrol prices adversely. Further, every cent the $Oz propped against the $ U.S. would be 1c at the bowser. Every $ U.S. that a barrel of crude went up was 1c/litre at the bowser.

Well a few years later, and the Oz dollar is 78c U.S. A barrel of crude is say $60 U.S.

So the price that a litre of petrol in Oz (using the formula that they gave us a few years ago) should be.

$1 + (60-45 for crude prices) - (78-45 for exchange rate), or 82 cents.

It's $1.22.

The recent reductions in crude prices, with a stable Oz dollar had zero effect at the bowsers...until our Competition Commission (fair trade watchdog) suggested that the cost reductions weren't being passed on. They dropped the prices for a day, then straight back.
 
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Profit for the fourth quarter of 2006 declined to $10.25 billion from $10.71 billion Exxon earned in the 2005 quarter - a record quarterly profit for any U.S. public company.

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Let's say 10,000 people shifted away from M1 in the last few months. Probably not that much, but let's say. Assume a 3 month OCI and 5 quart sump for each; that's 50,000 quarts of M1 unsold this quarter. Say they make $2 profit on each quart. Wild guess. That's $100k less profit.

So if those people had stayed with M1, Exxon would've made $10.2501 billion instead of $10.25 billion.

We're one tiny drop in the oil bucket.
 
I love to hear about "the man" sticking it to us.
Or how "they" are controlling the prices from ground to pump...

Some of us do understand that it is futures traders, and not the fat cat oil execs., who set the daily price fluctuations we see, yes?
And futures traders use more than the simple cost per barrel of crude to set their bids...including each and every news report they hear and see by the mass media.

Wait...no, I'm certain more than just a few here have no idea of what I'm talking about. Sad.
 
It used to be that when you got screwed by the freemarket economy you got some S&H Green Stamps, and your windshield washed. I hear we are better off now, but I'm not sure.
 
I stand by my comments regarding the free market. I don't like some of the recent shenanigans of ex-mobil. My dollars spent will go elsewhere. Others can continue to purchase their products.
I'm not saying BITOG members will bring them to their knees. I am saying if enough people buy elsewhere, we may get them out of the number one spot. We may see a drop in the record $39,500,000,000 profit. If we don't, I remain a man of principal and conviction. I can live with that.
 
Quite a few reactions, and let me be the first to admit I can't say I know a heck of a lot about economics. A friend of mine made a comment about two logging trucks hauling their load, passing eachother as they were heading in opposite directions, to provide supplies. Granted it says nothing specific like the type and grade of wood sought by the buyer, but wouldn't it have been something if each truck's destination was the other's county? The buyer may not have known any different or felt better in giving the other supplier their business. The suppliers make money with trade of goods, the trucker has something to do and the investment in distance hauling equipment goes justified and continues to pay for itself. The only bug for those energy conscious would be the energy consumed. Crude has been a raw resource that's already present, whose only cost has been that required to get to it, refine and distribute. I sense that as time goes on, more real-time production/conversions processes will have us seeing more of what measureable expense an energy unit costs and at the rate enabled.

For some time I was stuck on the MPG factor, trying to modify carburator settings, timing advance curves, and transmission shift points to get the most out each gallon. Then it finally occurred to me that it's not only a matter of energy conversion efficiency (MPG), but also in the work that is actually accomplished per unit energy. I'm struck by such an example of stuck thinking/neurosis of sorts.

As far as a competitive market, I ponder if individuals may obstain towards such business ventures with all this talk of globle warming and non-renewable resources. If thinking beyond one's self, such business seems increasingly short term, likely to shift towards renewables (an heaven forbid nuclear - if so, hopefully just for the transition period), as such fields expand, sciences and consumer's allow. It would seem that it's often cost that dictates both on the business adventure side as well as the consumer end of things.

As far as businesses earning money, thats great. From providing products and services to customers, they also enable the economic system to function in that they also provide incomes for their employees - money and action being the threads running through the entire process. I wonder in long term thinking, if such industries are also investing into possible alternatives (I know of BP)? Being that a lot is currently vested in current energy resources, there's probably much hestitation on different technologies - it's all likely create an entire lifestyle change...that's how much energy has become part of each of our lives in developed contries.

Just thoughts...
 
Looks like the same people complain about absurd profits by the oil companies also quietly smile because the Exxon Stock in their 401K made some good money. Cake and eat it too - how awesome!!
 
Fuel and oil is a bargain at nearly cost. While we complain at 3 dollars a gallon, consider this:

Try Walking 200 miles to visit your friend
Cut enough wood to heat your house, split it, and haul it to your wood burning stove, all by hand.
Try to pick up the kids at school on your bicycle
carry the groceries home in the rain.
and last of all, try living more than 2 blocks from work and commuting every work day in all forms of weather.

You get my point, the oil companies are in this business to make a profit, and they do so without charging more than the product is worth.

We should all hope to have such successful businesses.

Chris
 
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