perennial grouse re: oil companies

Sheffield Tesco Diesel up from 93.9 to 95.9 this week

"Derek" wrote

Same price around here 92.9p. but then the price of crude oil is rising too understand. It's all these third world countries getting vehicles, China, India etc. and it isn't going to go away unless there is a hike in output, and why should the oil co's do that.

On or around Sat, 08 Apr 2006 13:30:07 GMT, "Derek" enlightened us thusly:

Jammy c*ut. it's been 94.9 or 95.9 for ages here.

This Derek anon leet fle a fart, As greet as it had been a thonder-dent, That with the strook he was almoost yblent. and said....

All I can suggest is to use

- at least you would know the cheapest in your area, and if it would be worthwhile to take a detour to fill up there.

FWIW, diesel has just gone up to 94.9 to 96.9 for diesel and 92.9 to 93.9 for u/l round here.

Lordships are nothing to do with it. You need to donate at least a million to the NeuArbeitPartei to be exempt from normal trading rules. Ask Bernie Ecclestone.

WHY attack the oil companies? If they GAVE away petrol it would still be about 65p per litre because of the disgusting tax!!!

Before the Gulf war started in say 2002 the oil price was at it's lowest ever - about $14 a barrel - now it is $65.

Not forgetting our own, forgettable Little Johnny Howard, who's too small to be considered part of the Triumverate that led us all to a causeless war.

Karen

Taxes are inevitable and the lifeblood of politics hiding and justifying them is a fine art as Neu Arbieter Partie have proved with smoke and mirror ( and the Sun ) propaganda. However when Companies own the source extraction distribution and retail of a product they can pretty well do as they please in setting prices if they have cooperation from their rivals.The reason oil is so expensive is because they say so and use ridiculous excuses to justify increases oh theres been a war in such a place hurricaine and now the latest joke is companies which have made obscene profits in the last year " haven't bought enough equipment to increase production" so therefore they can charge more

Carlisle Tesco:

20 Feb 91.9 28 Feb 91.9 8 Mar 91.9 27 Mar 93.9 6 Apr 95.9

Seeing as most of the major oil companies are public corporations - probably all of them - look at Shell's return on investment. Current share price is about UKP18 with a 15pence full year dividend. Not exactly a brilliant return to investors. Which has me amazed at why the share price has increased from just over UKP14 since Jan 2004.

So it would appear that Shell at least is not exactly making a squillion dollars for its investors on its operating activities - oil, chemicals, etc. But somehow its share value increases, which just goes to show how fickle capitalism is.

Shell is very exposed to old refineries around the world and needs to upgrade and or build new ones, if you were asked to ante up a few billion you'd really have to think long and hard about lending to a company that can only return less than 1% to its investors.

On or around Mon, 10 Apr 2006 01:55:09 GMT, "Roger" enlightened us thusly:

I reckon they are, it's just they have a squillion shares out there. The oilcos regularly report billions of profit. However, I got to thinking about that, and considered what the effect would be if all those billions were applied instead to the petrol - the reduction in price would be trivial, in fact, 'cos they sell billions of litres per year.

But every shareholder would dump their shares if they knew there was no dividend return - less than 1% is hardly a return on investment anyway. I guess if you owned the shares back in the 1950s when they were 2 bob each then the investment is pretty good, buying now would be foolhardy in the extreme.

Taxes as high as ours are NOT inevitable - considering the oil companies have to discover - extract - refine and distribute I don't think 30p per litre is THAT bad - however I DO think 65p per litre for doing sod all IS a rip off.

And remember the oil compaies also have to pay tax on the crude so there is more than just 65p duty to pay - say another 10p per litre?

I would gladly pay BP 20p per litre!!!

Why do you think Britian has the dearest fuel in the World? It is NOT because of the oil companies!!!

Derek

Quite right Vince,

lets get some support going -

Lofty.