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Petrol prices rose 5% in my city today to about $1.20 US a litre. This occurred within one hour. There does not seem to be any reason for this as world crude fuel prices have been relatively stable.

Puzzled.

Gordon.

Are American owned Oil companies milking us dry?



I dont know about where you live but British Petroleum is on every 5th corner here.

Just stop and think a while.

Where do the profits of any public company go?

To the shareholders.

Who are the shareholders?

Well I hold a portfolio of shares in a number of companies other than my own but the principle shareholders in so many cases are banks and finance houses including insurance institutions that deliver pension payments and so forth.

There are a few fabulously rich individuals but in overall terms they hold only a tiny percentage of the sums involved

I went to http://moneycentral.msn.com and looked up Exxon Mobil (XOM) to see who owns them. Here is the incestuous list of the top publicly held institution that owns XOM:



Exxon Mobil


Is owned by: State Street Global Advisors

Is owned by: T Rowe Price Associates

Is owned by: State Street Global Advisors

No point in going further, is there?

This last week,ours in the UK. has come DOWN twice, mind you it is £0.94pe Litre

Esso {Exon} and Caltex are our main refineries with a couple owned by the Dutch Royal Family. {Shell}.

Take care,

Gordon.

There is not an Australian owned oil refining company. We are at the mercy of US owned giants.

Take care,

Gordon.

Sounds like a market just aching to be tapped. Does Australia have laws prohibiting someone building a refinery there?

not when the ships are owned by Exxon and Caltex!!!

Take care.

Gordon

gordonartist wrote: not when the ships are owned by Exxon and Caltex!!!



Take care.



GordonSounds like you need to be less dependent on us, then.

gordonartist wrote: Petrol prices rose 5% in my city today to about $1.20 US a litre. This occurred within one hour. There does not seem to be any reason for this as world crude fuel prices have been relatively stable.

Puzzled.

Gordon.


It's summer.

It amazes me every year when prices go up at spring break they start making all kinds of excuses, ie, the hurricane, the war, the vegetables. . . .

And then they will go down for a little while and about one to two weeks after school is out the prices go up again for all the summer traveling by car, plane, boat, whatev...

And it surprises people every year!

Annoy the oil companies-make your own.

http://www.homebiodieselkits.com/

http://www.bioking.nl/faq.htm

Accountable wrote: Sounds like you need to be less dependent on us, then.




Ooooh good one !