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GasBuddy News Article


Triple-digit crude prices pain oil majors, too
Thursday, May 15, 2008
The Houston Chronicle -- The world's oil majors aren't necessarily embracing high oil prices, even though they fuel tremendous profits, the chairman and chief executive of ConocoPhillips told shareholders Wednesday.

"High oil prices have not been our friend," James Mulva said at the company's annual meeting.

He later explained to reporters that oil's record-breaking runup into triple digits has let resource-rich countries take more control and shrink access for international oil companies like Houston-based ConocoPhillips.


Visit The Houston Chronicle for full article

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JT
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Message Posted: 5/15/2008 9:52:14 AM  Ignore JT Report Abuse
Thursday, May 15, 2008
The Houston Chronicle -- The world's oil majors aren't necessarily embracing high oil prices, even though they fuel tremendous profits, the chairman and chief executive of ConocoPhillips told shareholders Wednesday.

"High oil prices have not been our friend," James Mulva said at the company's annual meeting.

He later explained to reporters that oil's record-breaking runup into triple digits has let resource-rich countries take more control and shrink access for international oil companies like Houston-based ConocoPhillips.

Visit The Houston Chronicle for full article
REPLIES (newest first)
STEVE853
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Florida

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Message Posted: 5/18/2008 2:21:26 PM  Ignore STEVE853 Report Abuse
Like they lost any money.They still made a nice profit.
NJColt
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New Jersey

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Message Posted: 5/18/2008 2:18:50 PM  Ignore NJColt Report Abuse
umm... DON'T EVEN DARE TELL ME THE "OIL MAJORS" ARE PAINED!!!

GIVE ME 1 DAMN QUARTER OF THEIR PAIN!!!!!!!!
OSHAPT
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Virginia

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Message Posted: 5/17/2008 12:12:55 AM  Ignore OSHAPT Report Abuse
Just great.
magnumCA
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Los Angeles

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Message Posted: 5/16/2008 5:14:05 PM  Ignore magnumCA Report Abuse
poor oil companies
Rick52
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Milwaukee

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Message Posted: 5/16/2008 2:25:23 PM  Ignore Rick52 Report Abuse
Look at your stimulist check in fine print it says pay to the order of US oil companys...
POLELANE
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Ohio

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Message Posted: 5/16/2008 12:18:44 PM  Ignore POLELANE Report Abuse
don't forget to send our contributions, too
mysub
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Las Vegas

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Message Posted: 5/16/2008 10:00:57 AM  Ignore mysub Report Abuse
I'll send them my contribution immediately.
Somis1
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Ventura

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Message Posted: 5/16/2008 9:51:25 AM  Ignore Somis1 Report Abuse
Yeah, this, along with the price of gasoline, is a little hard to swallow.
hangupanddrive
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Michigan

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Message Posted: 5/16/2008 9:49:26 AM  Ignore hangupanddrive Report Abuse
Gee, we should take up a collection for them!!!
PenDoctrJD
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Orange County

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Message Posted: 5/16/2008 9:43:07 AM  Ignore PenDoctrJD Report Abuse
Gosh, as long as they don't affect poor little Exxon.
NissanGirl
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Oregon

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Message Posted: 5/16/2008 9:43:03 AM  Ignore NissanGirl Report Abuse
Boo hoo!!!
kevski
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Oregon

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Message Posted: 5/16/2008 9:34:47 AM  Ignore kevski Report Abuse
cry me a river
Don20
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Oklahoma City

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Message Posted: 5/16/2008 9:33:54 AM  Ignore Don20 Report Abuse
Oh, these poor boys only made $300 Billion more last quarter than they did same quarter last year. (wish I had such a problem).
rogerparry
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Florida

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Message Posted: 5/16/2008 9:31:53 AM  Ignore rogerparry Report Abuse
Does he really think we will feel sorry for him? I'm sure he starts laughing as soon as he gets away from the cameras.
woos777
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Washington

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Message Posted: 5/16/2008 9:30:20 AM  Ignore woos777 Report Abuse
It's true. Because they were crying all the way their bank.
WillyG
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Cincinnati

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Message Posted: 5/16/2008 9:27:54 AM  Ignore WillyG Report Abuse
You got any more swamp land for sale, cause I ain't buying that one. So you're saying they make all those billions of dollars in profit and they hate it ? Come on . . .
w4kh
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Riverside

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Message Posted: 5/16/2008 9:27:27 AM  Ignore w4kh Report Abuse
Geez, my poor oil baron friends... maybe we should have a Memorial Day telethon to raise money to give to these parasites who are whining about how high prices are squeezing them? I think NOT!
Cuzilla
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Indianapolis

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Message Posted: 5/16/2008 9:24:04 AM  Ignore Cuzilla Report Abuse
Hey bicycler, before wealth can be confiscated it must first be created! The Egyptians did not build the Suez Canal and Venesuala did not build the wells or refineries.
REVLAW
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San Antonio

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Message Posted: 5/16/2008 9:22:24 AM  Ignore REVLAW Report Abuse
When dealing with a necessity commodity, the oil majors only pay "lip service" to the pain felt by the consumers at the pump. Their interests are only their own.

[Edited by: REVLAW at 5/16/2008 10:25:45 AM EST]
ssect8
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Hartford

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Message Posted: 5/16/2008 9:20:01 AM  Ignore ssect8 Report Abuse
B.S. And I quote (from above) "even though they fuel tremendous profits". Give me a break, what a bunch of hypocrites. They are right up there with used car salesmen and members of Congress.
Cuzilla
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Indianapolis

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Message Posted: 5/16/2008 9:18:40 AM  Ignore Cuzilla Report Abuse
Who cares about the oil majors? I am making very good on investments in Canadian energy and related companies. The oilsands are booming.
fairchildd
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Kansas City

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Message Posted: 5/16/2008 9:18:38 AM  Ignore fairchildd Report Abuse
they haven't been MY friend either
Capt2007
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Victoria

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Message Posted: 5/16/2008 9:18:20 AM  Ignore Capt2007 Report Abuse
What a bunch of BS
bicycler
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Ontario

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Message Posted: 5/16/2008 9:17:21 AM  Ignore bicycler Report Abuse
AC-302; Our gov`ts could control the foreign companies if they chose to do so. All foreign companies have to live within the country they operate, and the laws that exist in that country apply to them. Thus Chavez took control of foreign oil companies. I would not say that I agree with him but it is a fact of life.Remember Egypt took over the Suez canal from the British.
Why do our gov`ts not do something withe the oilbarons? Could it be that those who lobby for the oilbarons in our capitols donate money to the election coffers?
niceguytx
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Houston

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Message Posted: 5/16/2008 9:15:40 AM  Ignore niceguytx Report Abuse
The real beneficiaries are the owners of the resources, which are mostly (~80%) owned by national governments, many of which are not US allies.
grccMI
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Grand Rapids

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Message Posted: 5/16/2008 9:12:59 AM  Ignore grccMI Report Abuse
It will affect everyone.
spunky4443
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Washington

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Message Posted: 5/16/2008 9:12:04 AM  Ignore spunky4443 Report Abuse
Well I would imagine that the Public feels real sorry for you.
bicycler
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Ontario

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Message Posted: 5/16/2008 9:07:10 AM  Ignore bicycler Report Abuse
And the 'oildevil' sobs all the way to the bank because his earnings are not as high as he/she would like! The 'oildevil' could cut the price and still get a more reasonable markup ,but he chooses to hit the economy to get a huge profit and blame it on someone else. He wins-we lose!
His greedy efforts are aided by those like 'kingdick' who for one reason or an other cheerleads the apology of the oilbarons. I pay little attention to these apologists since many if not all of them have a vested interest such as employment themselves or relatives and maybe oil company shares.
I do admit a vested interest. I buy gas but never support the big oilbarons such as Esso/Exxon, Shell,Mobil,Cheveron. I do not own any shares in the big oilbarons empire either. To own shares would make me,in my mind, an oil qiusling.
JRFAN88
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Message Posted: 5/16/2008 9:07:02 AM  Ignore JRFAN88 Report Abuse
whatever...bud eee
cbpilot
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Message Posted: 5/16/2008 9:06:07 AM  Ignore cbpilot Report Abuse
And yet gas is 17 cents / gallon in Venezuela. See: http://www.thewvsr.com/gasprices.htm
GooseMI
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Grand Rapids

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Message Posted: 5/16/2008 9:05:19 AM  Ignore GooseMI Report Abuse
You want me to feel sorry?
MnSwede
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Twin Cities

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Message Posted: 5/16/2008 9:02:53 AM  Ignore MnSwede Report Abuse
Anybody want to buy a tropical rainforest in Arizona?
CheapoBob
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Alabama

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Message Posted: 5/16/2008 9:02:41 AM  Ignore CheapoBob Report Abuse
whose richer, not me
AnObserver
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New Jersey

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Message Posted: 5/16/2008 9:00:47 AM  Ignore AnObserver Report Abuse
High crude price squeeze the refiners as well as the consumers ..and.. it gives Big Oil a massive PR problem
Bity
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Wichita

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Message Posted: 5/16/2008 9:00:23 AM  Ignore Bity Report Abuse
Break the dependency on them!
rod1965
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Portland

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Message Posted: 5/16/2008 8:58:48 AM  Ignore rod1965 Report Abuse
get a clue ConocoPhillips. take a profit hit, lower prices and you might make more in volume.
scrounger
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Vancouver

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Message Posted: 5/16/2008 8:57:39 AM  Ignore scrounger Report Abuse
Yah right??:?:?
AC-302
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Los Angeles

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Message Posted: 5/16/2008 8:55:24 AM  Ignore AC-302 Report Abuse
I'd still rather have the American companies in more control than the foreign ones. At least the profits come here. And for those who think this way, at least American companies can stand some chance of reguation through the American government. Not so the big foreign majors..
DeHavilland
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Toronto

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Message Posted: 5/16/2008 8:55:08 AM  Ignore DeHavilland Report Abuse
Shoot the speculators!
MG_Sputnik
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Philadelphia

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Message Posted: 5/16/2008 8:54:20 AM  Ignore MG_Sputnik Report Abuse
It's a shame. Now their profits will only be in the millions instead of billions of dollars. I hope they can survive!
CoronaKid
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Riverside

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Message Posted: 5/16/2008 8:52:42 AM  Ignore CoronaKid Report Abuse
Cry me a river!
Retowered
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Colorado

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Message Posted: 5/16/2008 8:51:53 AM  Ignore Retowered Report Abuse
No comment!
kingdick
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Minnesota

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Message Posted: 5/16/2008 8:48:36 AM  Ignore kingdick Report Abuse
-----------------------------------
Between 2005 and 2008 the refiners share of the retail price has dropped from 19.00% * $0.43 per gallon in 2005 to 12.50% * $0.38 per gallon in 2008.

But that will not faze all you Refiners "Greed" statements even though they have seen a lower percent of our gas cost.

All the profit is in crude oil production.
-----------------------------------
Between 2005 and 2008 the share of all tax on the retail price has dropped from 19.00% @ $0.43 per gallon in 2005 to 14.50% @ $0.43 per gallon in 2008.

Between 2005 and 2008 the refiners share of the retail price has dropped from 19.00% @ $0.43 per gallon in 2005 to 12.50% @ $0.38 per gallon in 2008.

Between 2005 and 2008 the marketing and distribution share of the retail price has dropped from 9.00% @ $0.20 per gallon in 2005 to 6.00% @ $0.18 per gallon in 2008.

Between 2005 and 2008 the cost of crude oil share of the retail price has increased from 53.00% @ $1.20 per gallon in 2005 to 67.00% @ $2.04 per gallon in 2008.

All the profit is in crude oil production.
-----------------------------------
And the Speculators !!
Rick52
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Milwaukee

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Message Posted: 5/16/2008 8:47:13 AM  Ignore Rick52 Report Abuse
It's not over till the well runs dry......
gatj1025
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Georgia

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Message Posted: 5/16/2008 8:46:51 AM  Ignore gatj1025 Report Abuse
Maybe Dodge is counting on the price of gas to go back down... Ha Ha Ha LOL, ROFL.
Laser917
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Minnesota

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Message Posted: 5/16/2008 8:43:53 AM  Ignore Laser917 Report Abuse
93probeguy - I want to see Dodges face when gas prices spike way up there. Oh wait they are on the brink of bankruptcy again so they can sell a bunch of cars and then go bankrupt so they don't have to honor the gas deal. I get it.
Rick52
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Milwaukee

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Message Posted: 5/16/2008 8:43:25 AM  Ignore Rick52 Report Abuse
Get a ROPE ! !
rvnvet70
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Michigan

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Message Posted: 5/16/2008 8:34:17 AM  Ignore rvnvet70 Report Abuse
See how it pains the consumer.
pulpwood
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Mississippi

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Message Posted: 5/16/2008 8:33:38 AM  Ignore pulpwood Report Abuse
Blah blah blah........ join the club!
Brockvillian
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Message Posted: 5/16/2008 8:32:56 AM  Ignore Brockvillian Report Abuse
I am so sure.
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