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» The Geek Culture Forums   » News, Reviews, Views!   » Politics/Religion/Current Affairs   » I just figured out that the oil companies profit by being unsafe.

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Author Topic: I just figured out that the oil companies profit by being unsafe.
Ashitaka

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Icon 1 posted January 10, 2011 13:15      Profile for Ashitaka     Send New Private Message       Edit/Delete Post   Reply With Quote 
The alaskan pipeline is operating at half of it's normal output because of a small spill at a pumping station.

The price per barrel of oil is up 1% today because of that ( see above link).

The three owners of the alaskan pipeline are Exxon/Mobile, BP and connoco-phillips.

Assuming that the oil companies increase their prices of gasoline to compansate for the increase in crude oil price ...

Exxon makes 2.3 million barrels of oil per day. The price of oil is 88.93 USD per barrel instead of 88.03 USD per barrel, a 90 cent increase.

Exxon/Mobile is making an extra 2 million dollars a day because of this accident (assuming the sell 2.3 million barrels per day and assuming that they don't have much increased costs because of this accident. Since it is small, I think we can assum that.)


Assuming Conocophillps sells 1.59 million barrels per day, they are reaping a profit of 1.4 million USD per day.


BP, who also prodces ca 2.3 million barrels per day is reaping a profit of also ca 2 million per day.

All because they spilled a littl oil.


And now think about all the other oil companies, who did nothing, and are reaping huge profits, bcasue the oil price is going up, bcause of this spill.

I tll you, it pay good money to be sloppy with oil.

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TheMoMan
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Icon 1 posted January 10, 2011 15:13      Profile for TheMoMan         Edit/Delete Post   Reply With Quote 
____ I'm glad that you have become enlightened, but not only by creating their own shortages they get tax breaks (Oil Depletion Allowance) for the oil pumped out of the ground, so oil spilled still gets the tax break.

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dragonman97

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Icon 1 posted January 10, 2011 17:51      Profile for dragonman97   Author's Homepage     Send New Private Message       Edit/Delete Post   Reply With Quote 
Color me stupid, but I thought we got most of our oil from overseas...
(It's always galled me that we seem to sell our oil to other countries, and then buy ours from people who hate us. [But the economists say it makes sense!!!])

As such, it seems like nothing short of racketeering that something that shouldn't directly affect much of our market...affects the whole damn country. I just filled up this morning at $3.329/gal. The local rag has pointed out that this is the first winter that prices have remained over $3. *sigh* I'm relatively certain that crude from Alaska isn't being trekked across the country to reach us in NY -- it's most likely coming in from a ship via NJ. Let's ditch the SUVs, improve mass transit, and end the damn wars. </leftie_pinko_commie?>

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MacManKrisK

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Icon 1 posted January 10, 2011 19:10      Profile for MacManKrisK     Send New Private Message       Edit/Delete Post   Reply With Quote 
Actually, dman, IIRC, most of our oil comes from Canada, eh?

That being said:
quote:
Let's ditch the SUVs, improve mass transit, and end the damn wars.
HEAR HEAR!!!

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dragonman97

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Icon 1 posted January 10, 2011 20:33      Profile for dragonman97   Author's Homepage     Send New Private Message       Edit/Delete Post   Reply With Quote 
quote:
Originally posted by MacManKrisK:
Actually, dman, IIRC, most of our oil comes from Canada, eh?

Interesting...didn't know that. I like Canada! [Big Grin]

Link from Wikipedia:
http://www.eia.doe.gov/pub/oil_gas/petroleum/data_publications/company_level_imports/current/import.html

Also from Google searches - I can hardly wrap my brain around that.
http://www.platts.com/weblog/oilblog/2010/05/09/us_oil_exp.html

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Posts: 9195 | From: Westchester County, New York | Registered: May 2001  |  IP: Logged


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