Outrage of the Day - April 28, 2005

[seagull]

As consumers struggle with high prices at the pump, "Exxon Mobil Co. reported a 45% surge in net income, while Royal Dutch/Shell Group's earnings rose 40%, as persistently high oil prices fed the industrywide profit bonanza."

 

[robtex]

wow great find...you are a whiz at finding good stuff on the net..sorry i have to spread karma before i can frubal you again

 

[Pah]

As consumers struggle with high prices at the pump, "Exxon Mobil Co. reported a 45% surge in net income, while Royal Dutch/Shell Group's earnings rose 40%, as persistently high oil prices fed the industrywide profit bonanza."

And alternative technology continues to languish from minimalist action of both the oil and automotive industries.

 

[CaptainXeroid]

And alternative technology continues to languish from minimalist action of both the oil and automotive industries.

Granted they aren't perfect, but high gas prices are 'fueling' sales of hybrid cars, and many more models are scheduled to be introduced later this year.

I'm not defending them in the slightest, but I can understand the oil & automotive industries resistance. The oil companies are making big stacks of ca$h and have been reminded that the demand for fuel in the short run is inelastic, so gas prices won't go down any time soon. As long as people keep demanding bigger and more powerful vehicles than what would meet their motoring needs, don't expect a change in what the auto companies offer.

Hybrids aren't alternative technology, but because they use technologies already available, they are a good short term possibility to reducing fuel consumption.

 

[Melody]

Granted they aren't perfect, but high gas prices are 'fueling' sales of hybrid cars, and many more models are scheduled to be introduced later this year.

Unfortunately, the average price for the hybrids right now is low to mid $20K which puts it out of the price range for many people. Plus, replacement battery packs are currently at around $5,000 and only come with a $100,000 mile warranty. I know of someone who is trying to sell his 4 year old car for $7500. Unfortunately, if the next owner isn't cautious, they're going to buy this car for $7500 and find that it will probably need a $6,000 battery in the coming year since it's past its warranty.

According to a number of articles I've read, we are still a decade (or more) away from these cars and batteries being reasonably priced for everyone. So everyone go out and buy a hybrid because it will bring the prices down. Remember when home computers were almost $4000 for a "basic" computer?

 

[Pah]

...
According to a number of articles I've read, we are still a decade (or more) away from these cars and batteries being reasonably priced for everyone. So everyone go out and buy a hybrid because it will bring the prices down. Remember when home computers were almost $4000 for a "basic" computer?

On an NPR talk show yesterday I heard that fuel cells may be ready in ten years (technology plus supply) but that hybrids were considered a "stop-gap" measure for they still rely on gasoline. For what it's worth

 

[Scuba Pete]

The pickup of these hybrids is phenomenal. They are adding a "premium" to the sticker price here in Orlando. Too sad!

As for the Gas prices and obscene profits for the oil companies... well there are perks to having an oil baron in the White House you know. The average voter thought this past election was all about morality, when it was indeed driven by profits.