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Exxon getting out of retail gas business

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posted on Jun, 12 2008 @ 06:40 PM
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Exxon getting out of retail gas business


www.timesrecordnews.com

HOUSTON (AP) — Exxon Mobil is getting out of the retail gasoline business, a market where profits have gotten tougher because of high crude oil prices.

The world's largest publicly traded oil company said Thursday it will sell its 820-company owned stations and another 1,400 outlets operated by dealers to gasoline distributors across the U.S.

The Irving-based company didn't disclose financial details but said the transition will take place over a “multiyear period.”
(visit the link for the full news article)




posted on Jun, 12 2008 @ 06:40 PM
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Apparently there is more money to be made on the "upside" of the business, i.e., exploration, etc.

Will this have any impact on prices at the pump?

www.timesrecordnews.com
(visit the link for the full news article)



posted on Jun, 12 2008 @ 06:48 PM
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I don't know if i'm just crazy But this sends WARNING bells off to me.

Do they know some thing we don't ?? Lets sell off every thing we own so when the s - - - hits the fan we will be sitting on a beach drinking cocktails
with a great big smile
at the people

Using the pretense of fuel is too high makes me very scared



posted on Jun, 12 2008 @ 06:51 PM
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This "feels" like they may be pulling out because gas may be replaced with an alternative energy source that may not require "stations".



posted on Jun, 12 2008 @ 06:53 PM
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reply to post by Willbert
 

That would be wonderful but i don't think we will ever see that day

How would they make money off some thing that is free?

We can only hope it would happen



posted on Jun, 12 2008 @ 07:03 PM
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Smart to get out of the last transfer between the product and the consumer, thats where the violence and theft will be concentrated.



posted on Jun, 12 2008 @ 08:32 PM
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My guess is the tecnological blockade can't hold out during the information age. Soon we will be getting the kind of tech we should have started with in the first place were it not for the machiavelic manipulations of standard oil. That will hydrogen and electric engines imo, and if it really does break down completely we won't even need hydrogen or batteries...

I have a hunch the current oil crysis is the guys trying to make all they possibly can in the last decades of a dieing technology, not prime oil, iraq or any other reason. They know sooner or later people will simply stop buying gasoline based fuels because they are obsolete. They were obsolete when we first started using them.

The signs are already apparent, with major car companies investing in battery technology, tesla working with daimler benz, fisker soon to be selling it's plug in car, the lightning electric supercar, the electric smart which is already available here in europe, chevy volt, honda fx clarity hydrogen car which uses a hydrogen gas generator to produce electricity, a generator which is to come with it's own solar powered hydrogen production kit, and which is powerfull enough to run a mansion's consumption of electricity, the aptera which finally shows a company smart enough to realise aerodynamics matter and isn't making a brick with wheels, and so on.

I have a 1995 Nissan, it's a tiny car with good mileage, cheap parts and reliability. I will not buy another new gasoline car period. Neither will my folks. So either the industry gives us what we want or we, and millions of people like us, will let it go broke.

We live in a world where water is fuel and we have no shortage of it. At the very top of the economic food chain they know this, but the reality is at the bottom it is becoming known too.

The proof that conspiracies are commonplace is the existence of a century long oil energy transportation monopoly. But I think it's going down. Gonna be a bumpy ride for a while, but when it's over we should all be better off.



posted on Jun, 12 2008 @ 08:51 PM
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Its not the price at the pump Im worried about its why are they doing this? Is there another source that is going to be used? Are they selling while its high before a big oil tanking? Hmmm



posted on Jun, 12 2008 @ 08:54 PM
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I was under the impression that they just meant owning their gas stations? Aren't these leased? This is supposedly is going to be in phases and seems to be bad timing and may even signal higher prices. More price games? Are the oil companies going to war with the federal government?

If the federal government is taxing them too much, is this due to the current war as if the oil companies and the consumer are now paying for it? Someone's getting rich.

The whole things smells.......oily.



posted on Jun, 12 2008 @ 09:29 PM
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Delete double post...sorry...not sure how that happened.

[edit on 12-6-2008 by OBE1]



posted on Jun, 12 2008 @ 09:35 PM
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the key word in the article is RETAIL gas. store owners only make .03 to .10 cent on each gallon of gas here in the us. in my every day job i deal with this i know it to be fact. most owners i know are telling me they too are thinking of getting out of the sale of gas as well. because the majority of transactions on gas are made with credit cards. credit card services charge money for their service. in most cases store owners are paying credit card companies to sell gas. in other words the transation is more that the value of the fuel. make alot of since to get out of the bisuness of lossing money to me.



posted on Jun, 12 2008 @ 09:37 PM
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Originally posted by jsobecky
Will this have any impact on prices at the pump?

www.timesrecordnews.com
(visit the link for the full news article)


No, They aren't shutting down their pumping stations, they are selling them to BP, Chevron, etc. Most refiners are getting killed because of the crack spread...it's no wonder they are getting out of the retail business.



posted on Jun, 12 2008 @ 09:40 PM
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Originally posted by mybigunit
Its not the price at the pump Im worried about its why are they doing this? Is there another source that is going to be used? Are they selling while its high before a big oil tanking? Hmmm


They aren't getting out of oil...just retail gasoline. That's like....1% of their business. It is probably because of PR, and I wouldn't be surprised to see them announce that they are going to invest more in alternative energies. It would help get Congress of their back and it is good PR.



posted on Jun, 12 2008 @ 09:41 PM
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This is a smart move for Exxon, the oil industry has become far too controversial and is on a decline. I think exploring for better energy sources would be ideal.



posted on Jun, 12 2008 @ 09:46 PM
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Originally posted by mybigunit
Its not the price at the pump Im worried about its why are they doing this? Is there another source that is going to be used? Are they selling while its high before a big oil tanking? Hmmm



The disparity between rising oil/input costs...and lagging gasoline prices has put the crimp on refinery profits mybigbuddy. I think what this says is that Exxon expects oil prices to remain high...refinery profits low...and maybe concerns that congress will eventually effect price controls on petrol....only exacerbating the problem.

There appears to be a movement to consolidate the refinery industry under the mantle of the OPEC producers......you know...one call does it all
The strange thing is...these new facilities are being designed to process Heavy Crude.

Is the sweet-stuff becoming a bit scarce maybe?

Saudi Aramco, Conoco Phillips to Build Refinery in Saudi Arabia

Saudi Aramco and Total likely to build refinery despite high costs

Saudi to build 5 new refineries

Heavy crude





posted on Jun, 12 2008 @ 10:03 PM
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The sweet stuff being scarce as in peak oil? Could be another aspect. Who knows but as usual Im skeptical on any decisions like this. I guess that is something I cant help but hey who knows. Maybe we will find out soon.



posted on Jun, 13 2008 @ 01:27 AM
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Originally posted by Zepherian
...I have a hunch the current oil crysis is the guys trying to make all they possibly can in the last decades of a dieing technology, not prime oil, iraq or any other reason. ...


I have thought the same thing for about 2 or 3 years now. Especially with all the "water powered" cars thing being bandied about.



posted on Jun, 13 2008 @ 01:54 AM
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They never made much money at the retail end anyway and now that they're making multiple times more on the other side, the retail end has become a liability and the poorest performing part of the company. Makes sense to sell it off.

Leave the fuel selling to big retailers like Walmart, Safeway, Costco and others who have helped drive the margins down at the retail end.

Might as well get out now before the decline when it will cost money to decommission the stations & tanks beginning in 5 years or less. I imagine there will always be gas stations in our lifetimes, but there will not be 3 or 4 per block like we see now.

I would guess that in 10 years we'll only have about 10 percent of the gas stations we do now.

Like the woman who attempted to burn down a couple stations in California as a protest a couple weeks back, no doubt we will see more of that. Robbery of fuel stations & fuel trucks will go up because gas is worth so much more.

The corporation is removing it's direct connection to the public so they can hide & not be accountable for the crises they've been happy to get rich off of if not directly responsible for.

They will be hated and they will become targets for terrorists. I'd hate to live near a fuel pipeline about now.

They already have helicopters patrolling the refineries near me and they are paranoid as hell.


[edit on 13-6-2008 by verylowfrequency]



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