| View previous topic :: View next topic |
| Author |
Message |
Spanktron9
Heavy Crude
Joined: Jun 03, 2008
Posts: 198
Location: Terrified beyond the capacity for rational thought
|
 Posted: Wed Aug 27, 2008 8:21 am Post subject: And Conoco makes 3... |
  |
|
Just caught that Conoco is selling all of their US gas stations, following the path of BP and ExxonMobile. It was on CNBC, WSJ link
Hmmm... I wonder why an oil company would stop selling gas? |
|
| Back to top |
|
 |
TheDude
Expert
Joined: Apr 06, 2006
Posts: 3626
Location: 3 miles NW of Champoeg, Republic of Cascadia
|
| Posted: Wed Aug 27, 2008 8:39 am Post subject: Re: And Conoco makes 3... |
|
|
To make $800 million to cover lousy crack spreads.
WSJ has a nifty chart:
Wall Street Journal
"Big" Oil more and more refers to their political clout and little else.
_________________
Cogito, ergo non satis bibivi
C'mon man, who're you gonna believe? |
|
| Back to top |
|
|
Plantagenet
Expert
Joined: Apr 09, 2007
Posts: 6376
Location: Alaska (its much bigger than Texas).
|
| Posted: Wed Aug 27, 2008 9:17 am Post subject: Re: And Conoco makes 3... |
|
|
| TheDude wrote: |
"Big" Oil more and more refers to their political clout and little else. |
There isn't even much of that anymore.
The dems control both houses of Congress and they are successfully making big oil the scapegoat for the US energy problems. |
|
| Back to top |
|
|
aflurry
Intermediate Crude
Joined: Mar 28, 2005
Posts: 839
|
| Posted: Wed Aug 27, 2008 9:32 am Post subject: Re: And Conoco makes 3... |
|
|
| Plantagenet wrote: | | TheDude wrote: |
"Big" Oil more and more refers to their political clout and little else. |
There isn't even much of that anymore.
The dems control both houses of Congress and they are successfully making big oil the scapegoat for the US energy problems. |
scuse me while i bust out my tiny violin. |
|
| Back to top |
|
|
TheDude
Expert
Joined: Apr 06, 2006
Posts: 3626
Location: 3 miles NW of Champoeg, Republic of Cascadia
|
| Posted: Wed Aug 27, 2008 10:51 am Post subject: Re: And Conoco makes 3... |
|
|
| Plantagenet wrote: | | TheDude wrote: |
"Big" Oil more and more refers to their political clout and little else. |
There isn't even much of that anymore.
The dems control both houses of Congress and they are successfully making big oil the scapegoat for the US energy problems. |
That remains to be seen. People fervently believe the Drill Now mantra, and may vote for the candidate with the most jackup rigs. Not that it matters, anyway. I expect little in the way of sensible legislation from DC anytime soon, including from Oh!Bommma, and I'm registered Dem. Bit of flex fuel here, bit of tax credits for solar there. Your proverbial urine stream applied to roaring building fire.
_________________
Cogito, ergo non satis bibivi
C'mon man, who're you gonna believe? |
|
| Back to top |
|
|
ROCKMAN
Intermediate Crude
Joined: May 27, 2008
Posts: 976
Location: TEXAS
|
| Posted: Wed Aug 27, 2008 12:12 pm Post subject: Re: And Conoco makes 3... |
|
|
Oh yeah...the dems really hurt the oil companies. I'm sorry. I grew up in La. and worked in the oil patch my whole life. Our Dems were the biggest hogs in the oil companies' trough. Maybe your Yankee Dems aren't so easily bought. Yeah...that's right....I think I did read where Chicago breeds some of the most honest politicians in the land. I'm not really fussing at you but as a Libertarian I gave up expecting the best from the red/blue gang long ago.
About the Conoco gas station sale: we've been speculating for at least 10 years that Conoco would be the next biggie gobbled up by someone. Existing gas stations are a potential huge environmental liability from an abandonment stand point. I heard years ago that there almost was a deal struck on Conoco but the valuation (liability) of the retail segment was the hang-up. Hmmm...maybe I should buy some of their stock before I start spreading these rumors. |
|
| Back to top |
|
|
frankthetank
Fusion
Joined: Sep 16, 2004
Posts: 4933
Location: Southwest WI
|
| Posted: Wed Aug 27, 2008 12:23 pm Post subject: Re: And Conoco makes 3... |
|
|
We don't have any Conoco stations around here. Long time ago we did, but Kwik Trip has steadily run everyone out of business.
I seem to see no difference in Dems/Repubs 
_________________
Clothing should be optional. |
|
| Back to top |
|
|
VMarcHart
Light Sweet Crude
Joined: May 26, 2008
Posts: 1190
Location: Chicago, IL
|
| Posted: Wed Aug 27, 2008 12:34 pm Post subject: Re: And Conoco makes 3... |
|
|
| I worked for a gasoline refiner/retailer in the '90s. Back then it was a known fact that gasoline had little margin. The good margin was in the convenience stores. |
|
| Back to top |
|
|
Fishman
Intermediate Crude
Joined: Aug 11, 2005
Posts: 826
Location: Eastern NC
|
| Posted: Wed Aug 27, 2008 3:07 pm Post subject: Re: And Conoco makes 3... |
|
|
| If we flog the big oil companies our options are what? Saudi owned oil and gas stations? Instead of the Congress bringing big oil and fussing at them while they sit stone faced, it will be a Saudi prince who will call Congress to him and publicly have them kiss his asp. |
|
| Back to top |
|
|
Plantagenet
Expert
Joined: Apr 09, 2007
Posts: 6376
Location: Alaska (its much bigger than Texas).
|
| Posted: Wed Aug 27, 2008 5:03 pm Post subject: Re: And Conoco makes 3... |
|
|
| wrote: | | I seem to see no difference in Dems/Repubs |
Well, there are differences.
One of the more obvious differences in energy policy is that Nancy Pelosi, dem speaker of the House, won't allow a vote on ending restrictions on offshore drilling. Republicans generally favor ending the ban, and democrats want to keep the ban.
Thats a major difference---the parties aren't the same on that issue.
From an Alaskan perspective, the dems are clearly the obstructionist party who have blocked, filibustered, vetoed and obstructed Alaskan oil development in ANWR and offshore areas for the last 25 years while republicans have, year after year, worked to get ANWR opened. The US would have 1-2 extra mbpd of domestic oil production right now if not for the dems obstructionism.
Thats a major difference---the parties aren't the same on that issue.
And, of course, there are other substantive differences as well.  |
|
| Back to top |
|
|
cube
Fusion
![]()
Joined: Mar 12, 2005
Posts: 3824
|
| Posted: Thu Aug 28, 2008 12:54 am Post subject: Re: And Conoco makes 3... |
|
|
| ROCKMAN wrote: | | Oh yeah...the dems really hurt the oil companies. I'm sorry. I grew up in La. and worked in the oil patch my whole life. Our Dems were the biggest hogs in the oil companies' trough. Maybe your Yankee Dems aren't so easily bought. Yeah...that's right....I think I did read where Chicago breeds some of the most honest politicians in the land. I'm not really fussing at you but as a Libertarian I gave up expecting the best from the red/blue gang long ago. |
The word "Democrat" is not normally associated with the south.
The most heavily fortified stronghold of liberalism would definitely be the Northeast and they are virulently against "Big Oil".
I think this is the image that most people get of Democrats.
_________________
joeltrout Oct-2008: Dow 13,000 in three years
|
|
| Back to top |
|
|
KevO
Expert
Joined: May 24, 2005
Posts: 2429
|
|
| Back to top |
|
|
VMarcHart
Light Sweet Crude
Joined: May 26, 2008
Posts: 1190
Location: Chicago, IL
|
| Posted: Thu Aug 28, 2008 5:01 am Post subject: Re: And Conoco makes 3... |
|
|
| Plantagenet wrote: | | The US would have 1-2 extra mbpd of domestic oil production right now if not for the dems obstructionism. |
That's only 5%-10% of imports. I don't think it justifies putting ANWR at risk so we can continue to drive one block to buy ice cream at Walgreens. |
|
| Back to top |
|
|
|
News
Discussions
Resources
Members
Forum FAQ
Search
Usergroups
Profile
Log in to check your private messages
Log in
