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View Poll Results: 55 MPH Speed Limit
For 55 MPH Limit 82 6.58%
Against 55 MPH Limit 1,041 83.48%
I'm fine with whichever 124 9.94%
Voters: 1247. You may not vote on this poll

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Old 07-16-2008, 12:30 PM   #91
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I read the other day in the paper that a RECENT Congressional study that there is enough oil right now that oil prices SHOULD be around $60 a barrel.... NOT $140 like it is now.

They also had a hearing with the CEO's of the 5 largest American oil companies and the NUMBER ONE question was.....

Why has the average PROFIT per oil company gone up over 400% in the last five years... no one could give an answer.......
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Old 07-16-2008, 12:33 PM   #92
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Great. The n-th thread that eventually derailed into an oil debate.
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Old 07-16-2008, 12:45 PM   #93
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Great. The n-th thread that eventually derailed into an oil debate.
Well no shit considering OIL is the reason for the goverment wanting to lower the speed limit.
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Old 07-16-2008, 12:47 PM   #94
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^^ true this has just about everything to do w/ oil.
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Old 07-16-2008, 02:48 PM   #95
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Quote:
Originally Posted by 03OrangeSVT View Post
I read the other day in the paper that a RECENT Congressional study that there is enough oil right now that oil prices SHOULD be around $60 a barrel.... NOT $140 like it is now.

They also had a hearing with the CEO's of the 5 largest American oil companies and the NUMBER ONE question was.....

Why has the average PROFIT per oil company gone up over 400% in the last five years... no one could give an answer.......
...Probably because they were shocked by the idiotic question. Demand has increased causing an increase amount of sales. The world's demand for oil has increased from 77 million barrels a day in 2001 to 85 million barrels per day in 2007. The EIA expects this number to grow by 90,000 barrels a day in 2008 and by 1.4 million in 2009.

The oil industry needs to question Congress about why the US gov't is doing nothing to improve the situation, and only pandering to their constituents by pretending like they're going to take away some of the money that the oil industry is earning so "unfairly."

The price per barrel is determined in various worldwide commodities exchanges such as the New York Mercantile Exchange, the Chicago Board of Trade, and the ICE in London...amongst others. Oil is being bought at these prices.

Exxon is the biggest oil company in America but barely controls 5% of the world's oil supply. Exxon is hardly a big fish in this industry.

As for 400% increase in profits, that is slightly misleading. Congress knows nothing about gas companies or is lying to look good to voters in an election year. The oil industry is a huge worldwide industry and costs a lot of money to deliver these products to consumers. Instead of looking at the dollar amount in profits, look at their earnings. They are in the median compared to all other industries. Pharmaceutical, Tobacco, and Electronics industries earn much more than Oil Companies.

Oil companies earn roughly 7.5%. That's 30 cents a gallon based on $4 a gallon gas! There aren't many industries where you can stay afloat on less than 10% profit margin. They have record profits due to huge volume, not increased margins. It's a matter of scale.

A simple example…

Year 1…Big Oil Company (BOC) has gross sales of $1M with a 9% net profit margin. They make $90K.


Year 2…Crude prices and costs begin to skyrocket. BOC has gross sales of $10M and maintain their 9% net profit margin. They make $900K. The fiscally challenged public and Congress focus on absolute dollars rather than profit margins, and scream “gouging” and “profiteering”.


Year 3…Crude prices and costs continue to rise. BOC has gross sales of $100M, but are pressured into helping the average working man and freeze their absolute dollar profit at the Year 2 level of $900K instead of the $9M they rightfully earned. Their net profit margin is now down to 0.9%, but the much anticipated love from the public and Congress is still not there. After all, BOC still made $900K, which is 10 times more than Year 1.


Year 4…Oh my goodness, there is no Year 4. All BOC stockholders took their investments elsewhere to get a decent return, and BOC is bankrupt. Guess what else? All of the average workingman’s retirement funds take a beating as they were heavily invested in BOC. Congress declares a victory for the little guy and America. Easy to do as they are on a 100% tax funded free ride for retirement.

Some of you have fallen for the Media Hype - a couple years ago when Oil Co profits rose from 6% to 9% the Media Headline was "Big Oil Profits Rose 50%". Mathematically correct but it didn't present the true message - it was just an attention grabber.
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Old 07-29-2008, 10:00 AM   #96
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I drive 55-60 cruise controlled all the time. I stay in the right lane to get out of the way. Going 10 mph faster isn't worth the extra gas.
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Old 07-29-2008, 07:03 PM   #97
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Agreed. Why not just make a GAS SAVERS LANE? u can granny drive all u want on the GAS SAVERS LANE lol.



lol.......funny, but true, let the gas saving, slow driving people get a lane....i usually go 75-80, and will never go below 65!!!
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Old 07-30-2008, 10:51 PM   #98
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funny how the people talk about drive at lower rpms.
before i swapped my 5.0's tranny to a manual, the 5th gear aod woulod kick in @ ~95
and i would be back down to ~2300.
solution:
so up the limit and start building trannys with taller end gear ratios.
use less fuel( for those who believe the earth is running out of usable fuel)
and satisfy the NEED for SPEED(those impatient people)
we all win
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Old 08-01-2008, 06:41 AM   #99
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I just read a poll where 43% of the people polled were for reducing the speed limit to 55.

WTF??? Who and where are these people??? In Denver, the speed limit on I-25, I-225, I-76, US-6, US-36, and I-70 is 55 mph. Maybe 5% of the drivers on these highways actually do 55.

This reminds me of a poll taken during the 55 mph era. 83% of the people said they obeyed the 55 mph speed limit. There is NO WAY the 55 mph speed limit ever saw an 83% compliance rate anywhere.
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Old 08-02-2008, 01:25 PM   #100
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I am one of those people who average about 60-70 mph while on a trip. So going back to 55 it like standing still for some of us.
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