Jacobson, i think your overthinking the idea,,, there is no distrubtion involved,,, ur visa card gives you loyalty points so could our cards,,, the loyalty is paid for by the merchant,,, not the company,,, and iam still not sure what r u referring to when ur saying distribution??,, enlighten me
IS THIS feasible?
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Jacobson, i think your overthinking the idea,,, there is no distrubtion involved,,, ur visa card gives you loyalty points so could our cards,,, the loyalty is paid for by the merchant,,, not the company,,, and iam still not sure what r u referring to when ur saying distribution??,, enlighten me
there has been a startup in almost every industry u can think of, transportation (uber) hotels (airbnb) groceries (instacart) ,, cars (tesla) surveying (survey money) social media (Facebook, ing, twit) and there has even been one in an ancient field, trading and stock exchanges which is IEX by Brad Katsuyama,, YET nothing in the fuel industry,, this is our opportunity to shake it and revolutionize it to the betterment of everyone
I'm gonna sideline myself here because I need more info to opine intelligently.
I do know however that the gap between RBOB wholesale and what people pay at the pump is in the neighborhood of $0.60 ... albeit there are transport costs involved between Cushing and Anytown, USA.
That being said, if hedging works for the airlines, railroads, and truckers.... why can't it work for consumers if you have a broad enough customer base?
Hmph... probably better left to smarter minds than mine. Safe bet.
I'm gonna sideline myself here because I need more info to opine intelligently.
I do know however that the gap between RBOB wholesale and what people pay at the pump is in the neighborhood of $0.60 ... albeit there are transport costs involved between Cushing and Anytown, USA.
That being said, if hedging works for the airlines, railroads, and truckers.... why can't it work for consumers if you have a broad enough customer base?
Hmph... probably better left to smarter minds than mine. Safe bet.
The prices we see on rbob futures are RAW Meaning they dont have the four elements and those are 1state taxes 2federal taxes 3distrubtion and marketing and 4refining and profits, the price it self is not very relevant, whats relevant to us is the changes in the price and its correlation to the pump and how accuerate is the correlation, that could be done even better by trading futures from specific ports which are usually not necessarily the prices we see as traders
Ok I have a few questions...
1. does the wex card keep track of gallons used? I'm asking because when i use my credit card to buy gas all I see is the final price not gallons bought.
2. How much savings per gallon do you expect I can get? I agree with the others in that there is not much markup on gasoline prices.
A user is incentived to buy in bulk when he knows he is getting a signifcant savings. for me that would have to be at least 10-30% or more before I am willing to shell out more cash on the spot.
Also not sure its a fair comparison to use costco because a typical costco bulk item product is say 20-50 bucks. And a single item of that same product would be maybe 5 or 10 bucks.
To compare, a fuel fillup is say 50 to 80 bucks where as a bulk purchase would be what 500 to 1000 bucks? so we are talking about big differences in purchase amounts.
There arent many people that have that kind of excess cash laying around. most people live paycheck to paycheck.
5. is there a transaction fee you (the business) have to pay for every transaction? like credit credit cards charge something like 3% to the retailers.
its a good idea on paper at least.
1. does the wex card keep track of gallons used? I'm asking because when i use my credit card to buy gas all I see is the final price not gallons bought.
2. How much savings per gallon do you expect I can get? I agree with the others in that there is not much markup on gasoline prices.
A user is incentived to buy in bulk when he knows he is getting a signifcant savings. for me that would have to be at least 10-30% or more before I am willing to shell out more cash on the spot.
Also not sure its a fair comparison to use costco because a typical costco bulk item product is say 20-50 bucks. And a single item of that same product would be maybe 5 or 10 bucks.
To compare, a fuel fillup is say 50 to 80 bucks where as a bulk purchase would be what 500 to 1000 bucks? so we are talking about big differences in purchase amounts.
There arent many people that have that kind of excess cash laying around. most people live paycheck to paycheck.
5. is there a transaction fee you (the business) have to pay for every transaction? like credit credit cards charge something like 3% to the retailers.
its a good idea on paper at least.
Do you think a patent should first have been filed like below, before making it to the public?
https://www.google.com/patents/US20140067540
https://www.google.com/patents/US5859416
http://www.google.com.au/patents/US20160005037?cl=en
https://www.moregallons.com/pdfs/MoreGallons_Chart.pdf
https://www.google.com/patents/US5270943
https://www.google.com/patents/US20140067540
https://www.google.com/patents/US5859416
http://www.google.com.au/patents/US20160005037?cl=en
https://www.moregallons.com/pdfs/MoreGallons_Chart.pdf
https://www.google.com/patents/US5270943
good concept.
But I don't see how you can offer spot prices today for delivery at some unknown future. How will you hedge it? How will you fund your overhead and transaction fees.
But I don't see how you can offer spot prices today for delivery at some unknown future. How will you hedge it? How will you fund your overhead and transaction fees.
This is an old story, nothing "cutting edge" here. I remember seeing a company promoting they were going to do this exact same concept 10 years ago and it seemed interesting but never materialized. I've seen the same thing several times since. Must be one of those ideas that sound good but very difficult to actually bring to market.
@RUFUS MREHIN I think you show a lot of potential in your ability to form a coherent idea and articulate it. I don't mean this in a disparaging way, but there's no way to say it without sounding as such.
Your LinkedIn would be quite off-putting to me as a potential partner, investor, or customer. While it seems very geniune, it's quite difficult to take someone seriously who lists their employment as at hedge fund with their name on it when you quite readily and honestly allude to the fact that 2016 was your first profitable year above. Furthermore, things you aspire to own are not the subject matter of a professional summary in my opinion.
All of these aspirations are okay: I want to achieve financial independence, I have delusions of grandeur that have been diagnosed, these things are not problematic. What is problematic in my eyes is the potential for your entrepreneurial spirit to be held back by a lack of refinement in the first point of professional reference anyone looks for on you. If we were friends I'd be telling you this as a friend, please don't interpret this as a personal attack. I think you show a tremendous amount of potential and I applaud your work ethic and ingenuity but let's not forget that often in business "perception is reality" and it's important to present yourself in a way that maximizes the potential for someone to take you seriously in a professional context.
Your LinkedIn would be quite off-putting to me as a potential partner, investor, or customer. While it seems very geniune, it's quite difficult to take someone seriously who lists their employment as at hedge fund with their name on it when you quite readily and honestly allude to the fact that 2016 was your first profitable year above. Furthermore, things you aspire to own are not the subject matter of a professional summary in my opinion.
All of these aspirations are okay: I want to achieve financial independence, I have delusions of grandeur that have been diagnosed, these things are not problematic. What is problematic in my eyes is the potential for your entrepreneurial spirit to be held back by a lack of refinement in the first point of professional reference anyone looks for on you. If we were friends I'd be telling you this as a friend, please don't interpret this as a personal attack. I think you show a tremendous amount of potential and I applaud your work ethic and ingenuity but let's not forget that often in business "perception is reality" and it's important to present yourself in a way that maximizes the potential for someone to take you seriously in a professional context.