Here's a shocker - Sportbike Forum: Sportbike Motorcycle Forums
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post #1 of 41 (permalink) Old 09-09-2005, 02:48 AM Thread Starter
 
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post #2 of 41 (permalink) Old 09-09-2005, 03:16 AM Thread Starter
 
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I'd be wiling to bet that adds up to just about $1 a gallon.
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post #3 of 41 (permalink) Old 09-09-2005, 03:40 AM
 
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Originally posted by LuckyStrike
I'd be wiling to bet that adds up to just about $1 a gallon.
nice. those sons of bitches...
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post #4 of 41 (permalink) Old 09-09-2005, 04:55 AM
 
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haha...exactly. Real shocker huh?

Did that picture really say 9.00/gallon or did I read that wrong?





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post #5 of 41 (permalink) Old 09-09-2005, 05:10 AM
 
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Can someone repost the article in here? I cant get to it...



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post #6 of 41 (permalink) Old 09-09-2005, 05:14 AM
 
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Never mind it finally worked... While I am in complete agreement about the companies gouging policies, I am not against giving them incentives to maximize production. After all I would rather be gouged by an american comany than OPEC. And paying even $9.00 a gallon is a whole lot better than not having any gas to buy



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post #7 of 41 (permalink) Old 09-09-2005, 05:23 AM Thread Starter
 
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Exxon's $10B fill-up: Cashing in on crunch
By Brett Arends
Wednesday, September 7, 2005 - Updated: 04:27 PM EST

Oil companies came under new fire yesterday when it emerged that ExxonMobil's profits are likely to soar above $10 billion this quarter on the back of the fuel crisis.
That's $110 million a day, and more net income than any company has ever made in a quarter. It's also a stunning 69 percent increase over the same period a year ago and a 34 percent jump from the $7.6 billion Exxon made just last quarter.
``Do you realize President Bush has just given a tax break to ExxonMobil?'' thundered Rep. Ed Markey (D-Malden). ``Of all the companies in the history of the world that needed a tax break, this month, ExxonMobil should be at the bottom of the list.''


The law gives incentives to producers such as Exxon to expand production, such as for drilling for new wells in deeper waters in the Gulf of Mexico.
``It makes me angry,'' agreed Rep. Marty Meehan (D- Lowell), noting rising fuel prices ``are going to have a negative ripple effect throughout the economy.''
Meehan yesterday sponsored legislation on Capitol Hill to penalize price ``gouging,'' assuming it can be agreed what that is. Markey is preparing for Energy Committee hearings on the fuel crisis.
Even oil company shareholders were critical. Hub fund manager Lee Forker, the head of New England Research & Management, said the profits reflected a failure of oil companies' leadership to invest in future production. ``They're maximizing present cashflows and ignoring the future,'' he said.
ExxonMobil is spending about $5 billion a quarter buying back its own shares.
Forker says the oil companies bear responsibility for recent shortages, because they have held back on investment in new production for years due to a fear of a price collapse. ``It could just be a big scam `Let's just restrict the supply along with the OPEC countries and we'll all get rich together' '' he said.
Crude oil prices fell yesterday by $1.61 to $65.85 a barrel. Gasoline prices also eased slightly from late last week's panic.
But Lehman Brothers yesterday became the first Wall Street investment bank to issue a new profits forecast for Exxon following the week of post-Katrina turmoil, when gasoline prices surged as high as $3.59 a gallon in the Bay State and crude oil prices briefly topped $70.
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post #8 of 41 (permalink) Old 09-09-2005, 05:28 AM
 
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The gas prices in maine have started to fall already. Last week, they were up to $3.49 everywhere around here, and yesterday when I drove by a gas station local, the price was $2.99.
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post #9 of 41 (permalink) Old 09-09-2005, 05:30 AM
 
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check this out and its right here in clinton twp.

pumps altered less gas sold then paid for

this is from yesterday's free press...two gas station owners rigged their pumps to pump less gas per dollar this is in Clinton Township I remember something similar in Dearborn... at the time some gas station owners were scaming 93 octane where you paid for 93 and got 89 shit like that can blow up a high compression engine a turbo or a supercharged motor. I am still weary about these scams when i fill up.
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post #10 of 41 (permalink) Old 09-09-2005, 05:33 AM Thread Starter
 
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How does a company making 110 MIL a day in profit need an incentive to do anything?
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