US Oil Producers Fail to Produce

[Tgo01]

The EU just declared that power generation from natural gas is considered "green" energy.

Quite the about face when their favorite Russian supplies of gas and oil was threatened.

It's funny because just a couple of years ago all of the alt-leftists all over the world were praising countries such as Germany for investing so much into wind and solar and that "ZOMG! This one day for one hour Germany managed to produce all of their power with just solar energy! ZOMG ZOMG ZOMG!!!!"

And now Europe is like...you know what? Maybe the yanks are right about this after all. But the yanks over here are like you know what? Fuck the middle and lower class, fuck them all! Raise the price of all energy production! Make those fucks shell out 50k+ for a new electric vehicle!

[Gelston]

lol

HOUSTON, July 5 (Reuters) - More than 5 million barrels of oil that were part of a historic U.S. emergency reserves release to lower domestic fuel prices were exported to Europe and Asia last month, according to data and sources, even as U.S. gasoline and diesel prices hit record highs.

https://www.reuters.com/business/ene...gh-2022-07-05/

Thanks Biden.

[Tgo01]

lol

HOUSTON, July 5 (Reuters) - More than 5 million barrels of oil that were part of a historic U.S. emergency reserves release to lower domestic fuel prices were exported to Europe and Asia last month, according to data and sources, even as U.S. gasoline and diesel prices hit record highs.

https://www.reuters.com/business/ene...gh-2022-07-05/

Thanks Biden.

Wasn't Seran bitching that oil companies are selling their product on the world market instead of being forced to only sell to the US? I'm sure he'll be silent about this though.

[Seran]

Speaking of big mad, why exactly is it a big deal that our energy partners and allies are able to purchase oil from strategic reserves? After all millions of barrels a week are exported from our country, but somehow this is special because..?

[Tgo01]

why exactly is it a big deal that our energy partners and allies are able to purchase oil from strategic reserves?

I say it and Seran does it.

Dance, puppet. Dance!

[Seran]

I say it and Seran does it.

Dance, puppet. Dance!

You're surprised you're called out for something so asinine you predicted it would happen? That's a level of self awareness I didn't think you Conservatives were capable of.

[Seran]

10% profit margin, on 10,000 gallons of fuel day, or more just on fuel? If you're one of the stations receiving multiple truckloads per day, that starts to become a pretty hefty chunk of change. Especially if you're a savvy business owner and make sound business decisions. Meanwhile, the Oil Producers and Oil Refiners (who often are the same company) are making profit margins between 100% - 250% of their costs depending on what component they're selling and refining. Republicans have been shrieking for gas tax holidays, when realistically it's Big Oil and their ridiculous profits at the cost of Americans, all as a result of their anticompetitive practices and being allowed to operate regional monopolies.

Fortunately Americans know just why their prices are high and aren't fooled by Republicans crying over the oil industry making profits in excess of the average year in a single quarter. As much as they try and lie that it's all Biden's fault, it's pretty clear whose getting rich and which party is receiving all of the Big Oil donations.

Fuel Sales


There are 116,641 convenience stores selling fuel in the United States, and these retailers sell about 80% of all the fuel purchased in the country. Overall, about 55% of the convenience stores selling fuel are single-store operators—roughly 64,000 stores across the country. These small businesses often don’t have the resources to brand their stores beyond the brand of fuel they sell and promote on their canopies, often leading to consumer misperceptions that they are owned and operated by a major oil company.

The gross margin (or markup) on gasoline in 2021 was 30.9 cents per gallon, or 10.2% of the average price of $3.03 for the year. Over the past five years, retailer gross margins have averaged 27.2 cents per gallon, or 10.7% of the overall price.

Depending on sales volumes and storage capacity, some retailers can receive three deliveries a day, or one delivery every three days. Retailers may not be able to adjust their prices when wholesale prices increase because a competitor may not be experiencing an increase in their cost of goods sold. Conversely, a retailer may adjust gas prices when the competition adjusts prices, either following or in advance of a fuel shipment.

- convenience.org NACS - Advancing Convenience & Fuel Retailing Association

[Neveragain]

10% profit margin

10% is a shit profit margin. 50% markup is the gold standard for most business's.

You couldn't even pay for your overhead with a 10% markup. The overhead on oil refinement is fucking ludicrously high.

You just continue to highlight how uneducated you are.

Fortunately Americans know just why their prices are high

Yes, people are now well aware that Biden and the Democrats are trying to wreck the fossil fuel industry. That's why Biden has a 30% approval rating.

[Seran]

10% is a shit profit margin. 50% markup is the gold standard for most business's.

You couldn't even pay for your overhead with a 10% markup. The overhead on oil refinement is fucking ludicrously high.

You just continue to highlight how uneducated you are.



Yes, people are now well aware that Biden and the Democrats are trying to wreck the fossil fuel industry. That's why Biden has a 30% approval rating.

Yeah keep sporting that lie. The oil industry did terrible under the last two Republicans and somehow has done well under Democrats. Democrats stimulate their economy by helping those who spend money, meanwhile Republicans think tax cuts will do the same and have been proven wrong over the last almost forty years. Oil industry is doing amazingly, your white knighting in their behalf and is as hollow as it comes.

[Seran]

Oil refineries are built and last for thirty or forty years with regular maintenance, their overhead is /not/ high, otherwise Shell, Chevron etc., wouldn't be cheering record breaking profits in their refining division. You seem to think anything not making middle two digit net profit is a failure, but you're fuckin wrong. We wouldn't have a convenience store in practically every neighborhood selling gas if that were the case.