Well, when you operate on a "cost plus" arrangement, you can do that... They have corporate profit goals of let's say 10%. Quite modest, really. BUT, let's say you run a shop and your raw material triples in price - can you simply raise the price of your product to adjust so that you can still make 10% - He!! no. Not if you expect people to still buy it.
BUT, since we HAVE to have oil/gasoline, the price goes up and *poof*, profit PERCENTAGE stays the same.
HOWEVER - let's say we use $30/barrel oil and just for numbers sake, take 10%, that'd be saying that Exxon would make $3/barrel of oil used. Now if the price goes to $90/barrel, they won't be happy with making $3/barrel, so take 10% and badda-bing, they make $9/barrel. Go figure, still made 10%, just a lot more money.
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Today's Featured Article - The Rescue of a Fordson F - by Anthony West. Introduction I live in the UK and have for many years restored Fordson tractors (in the main model N's). I have also restored and shown model F's, E 27N's, Field Marshall Series 2, David Brown Cropmasters and the old rey Fergeson T 20. At one time I had seven restored examples which were shown and used in ploughing matches. As most restorers, I have a number of war stories I can relate on a range of topics that may help other like minded and interested people. Perhaps my first p
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one 8n and one 9n tractor. totaly restored,pretty much everything is new. one 6ft blade good shape.
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