Greedy oil companies

  karmgord 17:42 18 Dec 10
Locked

Heating oil suppliers have bumped up the price of heating oil from,40p per litre to 70p,there is no justification for such a large increase( not even the spot price increases).


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  peter99co 17:46 18 Dec 10

A lot higher than that I have heard of 99p

  peter99co 18:52 18 Dec 10

I think the problem is that some have left the ordering till they have run too low to last though the winter. How long does a fill last?

  morddwyd 19:35 18 Dec 10

"there is no justification for such a large increase"

Yes there is.

It's called market forces.

That's why people can make a living making ice in Cairo, but not in Nome.

  karmgord 13:15 19 Dec 10

EVEN their trade body could not justify the scale of the increases,it is the companies exploiting "market forces".
Still the world is all about maximum profit for some,let the poor & the elderly freeze.

  morddwyd 19:22 19 Dec 10

"let the poor & the elderly freeze."

The oil companies are not charities.

Like any other business, they are in it to make money.

The poor and elderly could starve too, but I don't see Tesco reducing their profit margin.

  karmgord 19:29 19 Dec 10

morddwyd
"Greed is good"

  karmgord 19:32 19 Dec 10

The point is, ladies and gentleman, that greed -- for lack of a better word -- is good.

Greed is right.

Greed works.

Greed clarifies, cuts through, and captures the essence of the evolutionary spirit.

Greed, in all of its forms -- greed for life, for money, for love, knowledge -- has marked the upward surge of mankind.

  karmgord 19:34 19 Dec 10

Look what happened to the last couple who had a "let them eat cake attitude"

  karmgord 19:42 19 Dec 10

Re supermarkets they exploit their suppliers.
It is also suspected that they will use the VAT rise to disguise price increases.

  Forum Editor 19:58 19 Dec 10

"....all about maximum profit for some,let the poor & the elderly freeze."

Forgive me, but that's the kind of remark that really irritates me. It's said without any kind of understanding of what the people running a business really think - you can't possibly know that oil companies want the poor or the elderly to freeze.

The hard truth about life is that prices of commodities vary according to a fairly well-known set of circumstances - gas oil being a case in point. It's delivered to customers in tankers, and the cost of running a tanker to a house in the countryside is the same, whether it pumps 600 litres or 1200 litres. It means that the supplier makes less on the 600 litres than on the 1200, and when cold, snowy weather hits, customers think 'maybe I should get that tank topped up, just in case'. It's a perfectly understandable attitude, but it means lots of smaller deliveries for the tankers, and less profit per litre.

That's just one factor of course, but it's a valid reason for passing on costs to customers. Oil distributors are just as entitled to run their businesses at a profit as farmers, or double glazing manufacturers. Just because they supply fuel it doesn't mean they have to operate as a charity.

It has nothing to do with greed - that's an idea put about by people who resent any kind of profit-taking - and everything to do with running a business for the benefit of its shareholders, for without them there would be no business.

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