OIL companies are making £3Million an hour in profitt. How, then can they justify.....?

Question

...charging so much at the pump?

Answer 1

They can't!

Answer 2

because us americans are fat cheeky fellows and we cant walk for ourselves and personally i dont think it would be so bad if those people that yell about paying so much would get out of there pointless trucks and live like italian people who are fine in little cars and pastry shops when we got fat cheeky men with bald heads in america smoking pot and saying why but then they all get in there big truck or v8 car and cry to mummy about no money

Answer 3

They're in it to make as much money as they can. We are stupid enough to keep paying. If we really wanted to f**k them up we'd all get bikes but we're lazy and spoilt.

I'll fill up the car tomorrow morning and mutter under my breath as it goes above £60, but I'll be back again, and again...

Answer 4

Its too much of a cash cow for the oil companies and the government not to profit from it. And to think we have to pay car tax as well every year!

Answer 5

Its pretty disgraceful, but after all they're a business what do you expect, when the Government is profiteering you know were in trouble.

Answer 6

you are using the wrong metrics.

it sounds like the oil companies are being paid by the hour...like a laborer.  which they are not.

say you have a family the "Ropers" .  Mother, Father, 2 sons and a Daughter.  they all work  together they make 150,000 a year to support the household.....

Based on a normal work week, would you say that Roper was being paid $72 an hour?  probably not.

the metric you need is the Price to Earnings ratio (P/E) for each share of outstanding stock.  a low number says that they make a lot  a high number says they dont.

most oil companies dont have a very high P/E ratio, but some do.  Right now BP, Shell and some others have had excellent Quarter turnover, but that has not been divided up amoungst all the shareholders yet.  when it does you will probably see a 4-5% return.  which isnt great.

the price at the pump...is unfortunately due to 1)  the value of currency, and 2) so much speculation in the oil market.

right now  India and China are consuming the lions share of oil with the US coming in a close 3 (surprisingly). most of this is for transit fuel and feedstock for agricultural chemicals.  food is highpriced now due to lousy currency so the price of oil goes up again.

wer

Answer 7

That's a very good question.  if you find out, let me know.

Answer 8

they don't justify it, they just p**s on our heads & tell us it's raining... and we let them do it sad to say.

Answer 9

Whether £3M  is too much or too little depends on the capital they invested, which you have not mentioned. Go back to elementary school and listen to the teacher this time.

Answer 10

well do you know that the government makes almost double that with the tax they take from fuel.

Answer 11

its called business

Answer 12

Big companies just fool you. They have reserves for at least 50 years. They just play with you and gain the profits.

What is disgusting though is that everything you buy : bread., cheese etc....has triple the price now...........like everything else recommending transportation.

All bit companies have loads and load of barrels in reserve for at least 50 years or more.........they are not bankrupt !

They play the market to make themselves rich..

Answer 13

They charge very little at the pump, the rest is put on by the government in tax plus VAT

70p a litre in tax

Answer 14

Cause they know we'll pay for it :)