It's ok if you are rich ....

singist · 30 Oct 2008 at 21:35

http://news.bbc.co.uk/1/hi/business/7699892.stm

I wonder who is the major shareholder ....... who is ROTHSCHILD ?

They own your very being!

pitaylor · 30 Oct 2008 at 21:37

Lizard people according to David Icke

int · 30 Oct 2008 at 21:57

How are they allowed to make such large sums of money when they could cut that in half and pass on the savings?

[TW]Fox · 30 Oct 2008 at 21:59

int said:
How are they allowed to make such large sums of money when they could cut that in half and pass on the savings?

Pass on the savings to whom? Do you have ANY idea what you are talking about?

Vonhelmet · 30 Oct 2008 at 21:59

int said:
How are they allowed to make such large sums of money when they could cut that in half and pass on the savings?

Who's to stop them? The government? Why should the government stop them? They're just charging what the market will bear. That's capitalism kids, and unfortunately it's the best thing we've got.

Jez · 30 Oct 2008 at 22:04

int said:
How are they allowed to make such large sums of money when they could cut that in half and pass on the savings?

You expect a profit making organisation to make a LOSS in their retail sector then? What would be the point in that? They barely break even as it is.

Dunks · 30 Oct 2008 at 22:07

int said:
How are they allowed to make such large sums of money when they could cut that in half and pass on the savings?

Some peoples stupidity never fails to amaze me.

int · 30 Oct 2008 at 22:08

Clearly my intricate knowledge of oil companies has failed me :rolleyes:

How about a little less patronising and a little more explaining. Ta.

[TW]Fox · 30 Oct 2008 at 22:09

int said:
Clearly my intricate knowledge of oil companies has failed me How about a little less patronising and a little more explaining. Ta.

Well what exactly do you expect them to do?

V4NT0M · 30 Oct 2008 at 22:15

What a surprise, oil company makes big bucks...

Jez · 30 Oct 2008 at 22:18

int said:
Clearly my intricate knowledge of oil companies has failed me How about a little less patronising and a little more explaining. Ta.

Hardly intricate knowledge to realise that profits absolutely do not have anything to do with retail fuel pricing.

What do you expect them to do exactly?

Skeeter · 30 Oct 2008 at 22:19

People always loose perspective on these things.

Yes, Oil companies make billions of dollars of profit, but you are talking about companies that turn over hundred (if not thousands) of billions of dollars a year.

Im sure someone will be able to provide proper figures. Id be interested to see what the profit figures are as a percentage of turnover. I bet it will surprise a lot of people

Killa_ken · 30 Oct 2008 at 22:21

Good on them. May they continue making ridiculous sums of money :cool:

Killa_ken · 30 Oct 2008 at 22:24

int said:
How are they allowed to make such large sums of money when they could cut that in half and pass on the savings?

Why the hell would they do that? Hmm put more money in my pocket or give it to the public? Tough Decision. Not.

Bear in mind it isn't even as simple as that and Im sure they make pittens from their retail side.

Muffin` · 30 Oct 2008 at 22:30

int said:
Clearly my intricate knowledge of oil companies has failed me How about a little less patronising and a little more explaining. Ta.

They dig the oil out and pay the land owners $20. They then sell that oil on the market (as it's traded) for $100 a barrel. Thus making $80 a barrel profit. Then they have to ship it, refine it, 'package' it and sell it on forecourts. There is slim margins on the end part as it's a cut throat business, the retail end makes 1-2p profit on fuel and the main profit from bits n bobs in the shops.

Don't pick apart the figues, ta.

Rebelius · 30 Oct 2008 at 22:31

if they don't make much from their retail side, where do they make their money from?

I mean, fair enough if they made a tiny amount of profit from every gallon sold but the number of gallons bought and sold is so huge that it adds up to that much, but where do they get their money from if it's not from selling?

[TW]Fox · 30 Oct 2008 at 22:32

Rebelius said:
if they don't make much from their retail side, where do they make their money from?

Oil extraction. Not selling refined products to consumers.

Wicksta · 30 Oct 2008 at 22:34

Killa_ken said:
Bear in mind it isn't even as simple as that and Im sure they make pittens from their retail side.

Are they like mittens?

Jez · 30 Oct 2008 at 22:34

Rebelius said:
if they don't make much from their retail side, where do they make their money from?

I mean, fair enough if they made a tiny amount of profit from every gallon sold but the number of gallons bought and sold is so huge that it adds up to that much, but where do they get their money from if it's not from selling?

Retail provides virtually no financial incentive at all, the vast majority of profit in this sector comes from purchases of items in the shop's. Profits are so slim that the primary reason europe's largest refiner even operates a retail operation is brand awareness, nothing more. Financially they would be better off simply selling every site they own for development.

[TW]Fox · 30 Oct 2008 at 22:37

Jez said:
Retail provides virtually no financial incentive at all, the vast majority of profit in this sector comes from purchases of items in the shop's. Profits are so slim that the primary reason europe's largest refiner even operates a retail operation is brand awareness, nothing more. Financially they would be better off simply selling every site they own for development.

Well no, not really, becuase if they all did that the demand for their products would vanish as nobody would be able to buy it.