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ConocoPhillips is the "Mystery Buyer" for the Louisville, Colorado campus of Sun Microsystems.  For the past month, We've been talking about the shell company that bought the large property and most speculation was leaning towards either Microsoft, or Google as the purchaser.  Now we find out it's Conoco/Phillips? 

I'm disapointed, yet I don't know why.  I was hoping some sexy, high tech company was going to be the puchaser.  ConocoPhillips, just isn't that sexy.

What I do find interesting, is the proposed plan for the campus will be for a "Worldwide training center" and "Global technology center"  Conoco says it will use the facility to research hydrogen fuel cells, solar and wind power, along with cleaner diesel fuel, made with renewable resources. 

After further review, I like the clean energy campus better than a Google office complex!

What do you think?

ps. As a side note of interest, Conoco paid $58.5 Million for the property.  Which based upon it's profit of $4.37 Billion last quarter, it took about one day's profits to pay it off in full!  How you doin' at $3.00 per gallon?



 
Posted by Bob Schenkenberger - Denver Real Estate on 02/21/2008 01:42 PM   Comments (4)   around denver  

4 Comments on $3.00 per gallon? $4.37 Billion Profit!

FEB
21
2008
227,280 Points Outside Blog
Don't you have to wonder when none of the politicians are addressing the oil prices?  I think Congress should freeze their own salaries, since they have put us in this economy.
5:38pm • #1

As an economics major....hearing people suggest politicians control prices makes me cringe.  Markets control prices...not government.  When  you have govts control pricing, you will have a debacle like we had in the 70's with wage/price controls which led to rampant inflation. 

Now, on the other hand, government can momentarily lift gasoline taxes to alleviate some pressure.  That, to me, would be preferrable to this vote buying scheme with the economic stimulus we are going to get.  IF it's best to put money into the hands of those who will spend it, then DON'T TAKE IT FROM US IN THE FIRST PLACE.  SHEESH!  And therein is another problem....we are to SPEND the money.  To heck with that...spending is what got us to where we are now..both personal and government spending is out of control.  I have been guilty myself and that is why my "stimulus money" will be used to alleviate some debt on my debt snowball (for all you Dave Ramsey folks). 

Bob, about the profits.  Of course if the price goes higher, they will necessarily make more money.  However, that is a direct result of their profit margin...not gouging as what we are being led to believe. 

Before anyone blasts the oil companies and their profits (and as independent entrepreneurs, aren't we all fans of profit?) you might want to take a look and see if any mutual funds or 401k's you have are investing in any of these evil oil companies.

Free Market Economics and Capitalism.  Sure beats Marxism, Socialism, Communism and other -isms.
9:26pm • #2
FEB
22
2008
I guess my headline was misleading about my opinion.  I don't mind the oil companies making profits, it was supposed to be a commentary on the fact Conoco is spending big bucks to develope "green" alternatives, and how that was a good thing.
9:20am • #3
well....as Emily Litella used to say ....Well, never mind  :)
2:15pm • #4

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Bob Schenkenberger - Denver Real Estate

Greenwood Village, CO

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Colorado Realty Professionals

Office Phone: (303) 796-7000

Cell Phone: (303) 770-1180

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I've been selling homes since 1990. I've managed a large, national franchised office, and am currently Broker/Owner of a 5 agent company in Denver.

My firm is affiliated with Metro Brokers, Inc. We are a large group (almost 2000 agents) that share overhead, and resources. It allows us to run our business' nimbly, yet have the benefits of name recognition, etc. of the large franchises.



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