On I 75 yesterday in N. MI., gas at $5.30, the fools passing me towing boats going 75-85 mph. They have money.
(06-14-2022 11:47 AM)SamoanRocket Wrote: [ -> ]On I 75 yesterday in N. MI., gas at $5.30, the fools passing me towing boats going 75-85 mph. They have money.
A boat is a hole where I throw my money.
(06-14-2022 12:04 PM)Boca Rocket Wrote: [ -> ] (06-14-2022 11:47 AM)SamoanRocket Wrote: [ -> ]On I 75 yesterday in N. MI., gas at $5.30, the fools passing me towing boats going 75-85 mph. They have money.
A boat is a hole where I throw my money.
What are a boat owners 2 happiest days of boat ownership? The day they buy it, and the day they sell it.
(06-14-2022 11:47 AM)SamoanRocket Wrote: [ -> ]On I 75 yesterday in N. MI., gas at $5.30, the fools passing me towing boats going 75-85 mph. They have money.
yep be assured that some (perhaps many or even most) people complaining about high gas prices can afford-even though no one likes to pay more for anything, especially gas-and others could easily change lifestyle, habits and activities to reduce their use of gas. Challenge is to those who are low or fixed income but because of work (commute) or other needs, have no other choice but to pay more for gas as they need to continue to drive.
And lets be serious about gas prices, major oil companies are making billions, they are clearly price gorging customers to in part make up for reduced profits during peak of pandemic in 2020 when people were not commuting to work and not traveling for vacations.
(06-14-2022 12:48 PM)MidnightBlueGold Wrote: [ -> ] (06-14-2022 12:04 PM)Boca Rocket Wrote: [ -> ] (06-14-2022 11:47 AM)SamoanRocket Wrote: [ -> ]On I 75 yesterday in N. MI., gas at $5.30, the fools passing me towing boats going 75-85 mph. They have money.
A boat is a hole where I throw my money.
What are a boat owners 2 happiest days of boat ownership? The day they buy it, and the day they sell it.
+1 - exactly.
Here's another. Neighbor backs a boat into his driveway.
Did you buy a boat?
No, are you nuts?
That was my next question
(06-14-2022 12:04 PM)Boca Rocket Wrote: [ -> ] (06-14-2022 11:47 AM)SamoanRocket Wrote: [ -> ]On I 75 yesterday in N. MI., gas at $5.30, the fools passing me towing boats going 75-85 mph. They have money.
A boat is a hole where I throw my money.
From 33-year long boat owner - I always heard it as "a boat is a hull in the water you throw money into" BOAT = Break Out Another Thousand, which was never the case. More like BOATT = Break Out Another Ten Thousand.
Sold it last year with prices on used boats soaring because of shortages of fiberglas that kept some boat builders from making a single new boat in 2020. Inventory is still almost non-existent. Mine was (still is) Twin 454 CI engines that got 1 mile to a gallon at 35 mph cruising speed. Average price of gas on Lake St. Clair this year - $6.79/gal. 165 gal tank would cost $1,127 to fill this year (if you were foolish enough to let the tank run dry.) Happy when I bought it, happy when I sold it and a lot of happy and PO'ed in between...
I had a sail boat. Slight rental to keep it on the beach. No cost to sail up and down the intercoastal after work; watching the sunset, dolphins and manatees. Very little maintenance. A mood game-changer. Something with a cabin and a little one cylinder diesal? Hard to launch from a ramp with the keel. That's got dck fees (not bad) lift fees in and out around the season, bottom paint once a year.
Blow boats have a place. Friends with boats have a bigger place. Friends with boats and a freezer full of walleye and perch are gifts that usualy come from helping paint and clean. Which usually preceeds beer and fish so again,... fun.
(06-15-2022 11:55 AM)PaulJ Wrote: [ -> ] (06-14-2022 11:47 AM)SamoanRocket Wrote: [ -> ]On I 75 yesterday in N. MI., gas at $5.30, the fools passing me towing boats going 75-85 mph. They have money.
yep be assured that some (perhaps many or even most) people complaining about high gas prices can afford-even though no one likes to pay more for anything, especially gas-and others could easily change lifestyle, habits and activities to reduce their use of gas. Challenge is to those who are low or fixed income but because of work (commute) or other needs, have no other choice but to pay more for gas as they need to continue to drive.
And lets be serious about gas prices, major oil companies are making billions, they are clearly price gorging customers to in part make up for reduced profits during peak of pandemic in 2020 when people were not commuting to work and not traveling for vacations.
You were on the right track until that last section. Much of it is true, but they have to make profits. It is how you generate cash flow to get out of the mess the pandemic created. There is no gouging going on, despite the stupidity coming out of the mouths of politicians with names that sound a lot like Biden, Sanders, and Warren. The 10 largest oil & gas companies operating in the US lost a total of $85.4 Billion in 2020 - I went thru the 10K filings for each company a few months ago -when Warren started shooting her mouth off about "limiting profits" The wannabe Stalin, has no clue what she is talking about. In addition to the losses, those companies also spent $56.6B in capital investments in 2020, down from prior years by nearly 40%. That includes includes exploratory drilling, equipment replacement and overhauls, drill heads and pipe, and various other infrastructure needs to avoid shut-downs and potential environmental spills that are extremely costly to clean up.
That is $140B worth cash going out the door. It also does not include debt service payments - in a year when borrowings from lenders increased by $44B for those companies. It provided liquidity in 2020, but it will be a future drain on cash flows.
It is not sustainable. They also cut around 11,600 employees from the ranks in an effort to cut costs and conserve cash. Think the government would ever think of doing that?
Profits are up in 2022 - and they need to be. They have to generate cash to fund operations. You can only increase the amount of funds you borrow to fund operations for a limited time. That is the situation that exists now for Oil companies.
But the key issue is this - if Biden, Warren and Sanders truly believe the oil companies are engaged in Sherman Act violations by fixing prices - they have a simple solution available to them. Have the DOJ file anti-trust lawsuits and prove your case in court. It will fail - and they know that. Besides the empirical facts that make any such lawsuit frivolous at best, they also have to face the fact they already trumpeted to the world that this rapid increase in gasoline prices is being caused by the "Putin Price Hike". Dropping demand will not reduce prices - it will increase them. The significant investments in infrastructure requires massive amounts of cash inflow. If the amount of oil being drilled, refined, and sold drops off - prices have to be increased to cover the massive amount of fixed costs in those operations. There are no alternatives that work for the vast majority of people.
Suggestions read the latest North Dakota natural resources oil production report and ask why if the price of oil is twice the price it was in 2019 why is there only 40 rigs now vs over 200 back in 2019?. Output today is 900000 barrels less than 2019.
Also read the Bloomberg Business report in April 2022 or May 2022 and the Texas shale producers and why they aren't drilling more
Wow, talk about a hijacked thread.
(06-23-2022 07:57 AM)Lester Wrote: [ -> ]Wow, talk about a hijacked thread.
Yep... It went from a kid getting shot on 75 to gas prices.
(06-23-2022 08:49 AM)utpotts Wrote: [ -> ] (06-23-2022 07:57 AM)Lester Wrote: [ -> ]Wow, talk about a hijacked thread.
Yep... It went from a kid getting shot on 75 to gas prices.
Doesn't appear you registered any concern for the kid. The only way to get you involved is to give you something to beatch about, which is usually about what others think. See, we did this for you.
Yes, one of the more bizarre threads.
(06-23-2022 10:44 AM)eastisbest Wrote: [ -> ] (06-23-2022 08:49 AM)utpotts Wrote: [ -> ] (06-23-2022 07:57 AM)Lester Wrote: [ -> ]Wow, talk about a hijacked thread.
Yep... It went from a kid getting shot on 75 to gas prices.
Doesn't appear you registered any concern for the kid. The only way to get you involved is to give you something to beatch about, which is usually about what others think. See, we did this for you.
Yes, one of the more bizarre threads.
right, especially since gas prices are sky high in every country on the planet (except for our authoritarian friends in the sand kingdom).
Who shoots into a car driving 75 mph? that's bizarre
(06-23-2022 12:52 PM)pono Wrote: [ -> ] (06-23-2022 10:44 AM)eastisbest Wrote: [ -> ] (06-23-2022 08:49 AM)utpotts Wrote: [ -> ] (06-23-2022 07:57 AM)Lester Wrote: [ -> ]Wow, talk about a hijacked thread.
Yep... It went from a kid getting shot on 75 to gas prices.
Doesn't appear you registered any concern for the kid. The only way to get you involved is to give you something to beatch about, which is usually about what others think. See, we did this for you.
Yes, one of the more bizarre threads.
right, especially since gas prices are sky high in every country on the planet (except for our authoritarian friends in the sand kingdom).
Who shoots into a car driving 75 mph? that's bizarre
Or any speed. Not "bizarre" in the sense of "rare" anymore, unfortunately. That's the 3rd or 4th in the last couple years just through here? Couple of those on I-75 and a couple babies killed also.
any update on this story? Not the gas prices, but were any arrests ever made? When I come back home from Toledo area, I take the 75-275-696 route to avoid going through Detroit on 75 if it is late. Roads under repair and you still have idiots driving through there at 80 mph (at least) and dodging in and out of traffic before crossing three lanes to jump onto an exit ramp. Last place you want to start a road rage incident, so best to just avoid it. Only a 4 mile detour difference, but in terms of time, about 10 minutes longer, or maybe a you save enough time to live on longer.
