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Automotive News & Views Are gas prices fueling your pain? 
10042 messages, Last post on Jul 12, 2008 at 3:07 PM
You are in the Automotive News & Views Forum. Your Hosts are steve_ & claires
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Replying to: bpizzuti (Apr 23, 2008 7:55 am) |
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Replying to: texases (Apr 23, 2008 8:02 am) I saw the pipe stacked at Valdez back in '73 right before construction started on the TransAlaska pipeline. Time files.  Some predicted the pipeline would have been removed by now - Prudhoe production has fallen and it's not economic to run the pipeline half full I guess, so the state really wants more oil flowing through it. Otherwise they won't reap the royalty money that runs the state.
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Replying to: bpizzuti (Apr 23, 2008 7:55 am) EPS is the net-profit/# of shares issued. Investors compare the EPS to the price of the stock to determine if they want to invest in the company. If this is lower than some other company or industry, people start to think about putting their money in other companies. If a companyy the size of Exxon-Mobil was only going to make $5B per year, investors would pull their money pretty quickly, and then guess what? Exxon-Mobil no longer has the $, or wants to sink the money into finding and refining oil. As an investor I want a company to optimally earn 10+% on the money they have. If I buy stock at $90/share, I expect the EPS + the dividends to be 10+%. Why would I risk my money for less of a return? If Exxon-Mobil only earned $3/share, I'm pulling my money and buying U.S. treasury bills! And remember that oil companies did not always make $10% a year, they had some tough times. So I do not think its awful if an oil company makes 15% this year, which may offset only having made 5% a few years ago.
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Replying to: bpizzuti (Apr 23, 2008 7:55 am) Bernnke needs to stop dropping the fed funds rate and start inching it back up. Wall Street has finally calmed down and is trading within a reasonable range. Banks have taken their losses (Most of them imaginary due to ARMS resets that they wont be getting) Lets get back on track with the dollar index and Oil will settle back down. PS. I am already paying near $4/gal as my car can only use 91 octane and above. |
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Replying to: bpizzuti (Apr 23, 2008 2:25 am) Didn't these folks retain a lawyer to make sure that didn't happen? Who buy's a million dollars worth of real estate without making sure you understand what's going on? As to the people's failure to anticipate the rise in gas prices I don't think it's too common to consult commodities experts before you buy a car. In hindsight, maybe we should have. 
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Replying to: oldfarmer50 (Apr 23, 2008 9:24 am) The mistake people make is not to plan for possible negative setbacks. Many people will spend whatever you give them, setting up a lifestyle they can not afford if they lose a job, or prices go up. Then you have another group of people who think they're going to get out of high school, have no better skills than someone in Mexico making $1.50/hr, and have this expectation or assume a right to a middle-class lifestyle. Maybe they start a family too young, or keep having kids until they need charity. Maybe they expect to take 2 trips a year to the Caribbean, even though they're using credit cards. I really think people need to be held accountable for their choices. Either make choices to spend less, delay the family, work more jobs, get a good business going or something. IT really isn't my problem if you don't plan, so that you're not spending 100+% of what you earn. You really need to setup your life so that you have extra money each money, and have savings. Many of us work hard, are smart with our money, and plan for a rainy day. I guess there's no cure for "Not Smart" or "Lazy".
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Replying to: oldfarmer50 (Apr 23, 2008 9:24 am) From what I hear, in NYS anyway, is that there's a lawyer on each side. One for the seller, one for the buyer. The one for the buyer can be (and in many cases is) provided by the bank or mortgage provider, and CAN BE THE SAME AS THE LAWYER FOR THE SELLER!! So can you guess what these particular lawyers are going to tell people who don't understand what's going on?
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Replying to: steve_ (Apr 23, 2008 8:27 am) One thing you can count on from Exxon - they'll do projects that make money. Their lack of development of Pt. Thomson is a good indicator it's not a very attractive project without a gas pipeline. It's expensive to develop a field if you have to reinject all the produced gas. Maybe it makes sense at $100/bbl, but we've only recently gotten to these prices.
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Replying to: texases (Apr 23, 2008 10:09 am) But I think the State figures a hungrier, smaller company would have figured out a way to get the stuff to market long before now. By the time they get the gas pipeline built, LNG supertankers may be able to dock at Prudhoe. fwiw, the Alaska pipeline is ~40 miles west of Pt. Thomson, so getting the condensates there could be economically feasible (don't ask me how feasible getting permits would be...). |
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Replying to: bpizzuti (Apr 23, 2008 9:51 am) Again I think people need to be smart - choose a different bank than the seller. Or brainstorm, hire another lawyer! I'm in the process of buying a house now, and I have a realtor who works for a different company than the seller's realtor, I'm randomly selecting an inspector - not selecting 1 recommended by the realtor, and I'm hiring my own real-estate specialty lawyer. I could have bought a property 15 miles from work, but I'm planning on the possibility of higher gas prices or shortages; thus I made a lifestyle choice. Others should be doing similar, as these choices in life arise.
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