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<blockquote data-quote="Rmsanger" data-source="post: 1786422" data-attributes="member: 544424">You know what really pisses me off too about this is that everyone keeps referring to total profits.&nbsp;&nbsp; A higher price will obviously increase total revenue for companys that supply an inelastic good.&nbsp; People keep referring to this total # as if they know what they&#039;re talking about.&nbsp; Historically the industry&#039;s profit margin has been 8 - 10%, while this past year it was about 12%.&nbsp; Thus profit margins have increased but not substantially.&nbsp; It is the strong revenue growth that has drove NI.&nbsp;&nbsp; The price of crude is a public and well known fact and it has increased (e.g. see oil or energy index futures). The winch has been our refinning capacity and distribution problems, which has inflated the price.Another well known fact of gas prices is they tend to be highly correlated with oil when the price spikes, but when oil falls it takes a much longer time to hit the pump prices.If you want to be mad at someone, focus your anger too Saudi Arabia, Iran, Nigeria, Venezuela, and Russia.&nbsp; They have a significant influence on OPEC and the current supply/product/extraction of oil.&nbsp; Essentially they control the supply side and not the Exxons of the world.</blockquote>

[QUOTE="Rmsanger, post: 1786422, member: 544424"] You know what really pisses me off too about this is that everyone keeps referring to total profits. A higher price will obviously increase total revenue for companys that supply an inelastic good. People keep referring to this total # as if they know what they're talking about. Historically the industry's profit margin has been 8 - 10%, while this past year it was about 12%. Thus profit margins have increased but not substantially. It is the strong revenue growth that has drove NI. The price of crude is a public and well known fact and it has increased (e.g. see oil or energy index futures). The winch has been our refinning capacity and distribution problems, which has inflated the price. Another well known fact of gas prices is they tend to be highly correlated with oil when the price spikes, but when oil falls it takes a much longer time to hit the pump prices. If you want to be mad at someone, focus your anger too Saudi Arabia, Iran, Nigeria, Venezuela, and Russia. They have a significant influence on OPEC and the current supply/product/extraction of oil. Essentially they control the supply side and not the Exxons of the world. [/QUOTE]

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