Exxon Mobil profits
PJ_Lukin
Posts: 2,055
Bleed the working man dry while the rich get richer!
HOUSTON - Exxon Mobil Corp. reported second-quarter earnings of $11.68 billion Thursday, the biggest profit from operations ever by any U.S. corporation.
Just fucking lovely, yeah for capitalism !!!
HOUSTON - Exxon Mobil Corp. reported second-quarter earnings of $11.68 billion Thursday, the biggest profit from operations ever by any U.S. corporation.
Just fucking lovely, yeah for capitalism !!!
~!~ Peace ~!~ Love ~!~ Pearl Jam ~!~
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capitailism = cannabilism(on a social scale)
interesting to think that our great capitailist way of life, ends with our society devouring ourself.
Other than to entice investments I don't see the purpose of releasing this data, without the relationship to what it costs them to operate the entire company that's pretty much a worthless number... unless I'm working for Exxon and looking for a raise anyway... or I'm a stockholder hoping for a good dividend. Still depends how much is reinvested.
Yeah what a novel idea. Not like you can buy stock in a company or something like that. ....Oh wait???
Exactly. You look at their profit margin and ROE and ROI and the pharmaceuticals and tech companys make a larger percentage.
PROFIT MARGINS
XOM 8.4%
Merck 29%
Goog 27%
MSFT 23%
these companies earn three times more on every dollar in sales than ExxonMobil
Didn't you know Exxon is owned 100% by Bob Exxon. When the company makes profit all of the profit goes right to him and he keeps the cash in a giant Scrooge McDuck style Money Bin.
Damn Bob Exxon. I wish i was Bob Exxon JR. then the family company would be all mine. Bwahhhahaha.
My company recorded record profits for the last 12 months too. Do you hate us now?
...are those who've helped us.
Right 'round the corner could be bigger than ourselves.
Yes pearl jam fans hate anybody that makes money. Their form of currency is bootleg cds and t-shirts.
You're on to something there... or if I could take some of my 401k investments and allocate them to some stocks which include oil or other energy sources... damn government would never let me do something like that...
Admin
Social awareness does not equal political activism!
5/23/2011- An utter embarrassment... ticketing failures too many to list.
Hey, that's great!!!!
so did my company ...jackass
but that's not the point, the point is.... gas keeps going the fuck up... if it's truly going up because of supply and demand (which is a big Fucking lie) then the oil companies would only be reporting average profits not record profits...
in order to be reporting record profits then they are fucking taking advantage of a situation where they have you and me by the balls and you are being a dumbass....
I am not sure they have people by the balls as much as you might thing. I mean I keep hearing that with these higher gas prices, transit ridership has increased drastically. For the same reason I keep hearing stories that people are taking less vacations or not driving as far when going on vacations. People are making these choices, and if they keep doing it revenue is going to start to decrease.
I am not sure why you don't think it has anything to do with supply and demand. There are millions of new drivers in China every year. These are millions of people who are brand new customers for gas companies that never owned a car before. What industry wouldn't raise their prices if they had millions of brand new customers every year. Metals prices have increased for the exact same reason.
why only average profits??? Am I missing somewhere where it states that larger demand and smaller supply equal only average profits???
Admin
Social awareness does not equal political activism!
5/23/2011- An utter embarrassment... ticketing failures too many to list.
Thats market price for gas Exxon Mobil doesnt set it.
Name calling adds a bunch to your credibility.
...are those who've helped us.
Right 'round the corner could be bigger than ourselves.
If the demand exceeds the supply then that causes prices to jump....right?
but... Increased demand would mean that the oil people would have to try meet the demand with proportional spending right?
Simple economics... The oil people would have to do more work to keep up. Thus, they should be spending a relatively proportional amount toward the supply side. This logic would indicate that the oil people would be reporting average to above average profits. Not record profits and not exponentially higher every year.
Record profits indicate to me that the shortage of oil is merely a myth and the investors (speculators) have hyped a bonafide scare globally.
This is apparent if you would study the costs of oil production verses the price of gas in the global markets.
And China? Only 1 in 1500 people have vehicles. Ten years ago only 1 in 1600 had vehicles. Not that drastic of increase when you consider the average American family has almost 2 vehicles. Most of the increase in China comes from manufacturing which has tripled in the last 20 years thanks to our need for cheap labor and our outsourced industry.
No, it's not as simple as just Supply and Demand, that's what they want you to believe.
Much of it depends on where the supply comes from, how easy it is to get, the quality, the shipping. the refining. The taxes. Etc.
Even at $4.00 a gallon (we're at $3.85 currently down 30 cents recently) we are around 3 or $4 cheaper than the rest of the world that dosen't include subsidised gasoline.
Essentially, the US economy is built on cheap energy, this problem has been ignored for 30 years and now we're up against it.
We haven't even tried to be efficient to date and I imagine this is far better than the actual oil crisis in the late 70's. We'll have to see if the effeciency ideal coming out of this sticks this time.
Sorry....didn't mean it personal. Just responding to the post you made.
perhaps you didn't understand the thread and the OP's vibe...
I've dealt with oil people for almost 20 years. There's not another commodity or manufactured item in the capitalist world that can be compared with such abhorrence.
I compare the price gouging during national disasters to the current oil debacle except there's not enough anger. Everyone just accepts it and goes on.
Why would they have to keep up with demand??? Let's say supply stays constant (which we know isn't true), how would a company refine more of something that is in constant supply, whether it was enough to meet demand or not???
Why would costs go up?? As was noted, it depends on where the oil is drilled from and refined. If those facilities are relatively close, there are not much added costs to refining or shipping.
I'd agree that speculators have driven the price of crude to where it is today based on fear and speculation. However, it is not the only or even main reason for the higher price of gas and oil.
China may only have 1 in 1500 people with cars but with a population of over 1.3 billion, that accounts for almost 900,000 automobiles and I bet that this figure does include all of the construction equipment which is being used to fuel China's building boom. Most of the oil which China is using and in extreme demand is in the form of diesel fuel.
It's not as simple as supply and demand but its pretty damn close.
Admin
Social awareness does not equal political activism!
5/23/2011- An utter embarrassment... ticketing failures too many to list.
How are people "just accepting it"? I don't know about where you live, but in my location, transit ridership is at an all time high. People aren't flying as much because of higher airline costs due to fuel, and I think it was also reported that the number of people taking road trips is also down (either people aren't going anywhere or they are not travelling as far). I would hardly call any of those things just accpting it.
Care to cite your source for the 1 in 1500 number? I found this article from the BBC from 2007 that said it was more like 6 out of 100 people had cars and that it grew by 25% in the year before (and is expected to keep growing). It also said that the vehicle sales for that year were 8 million. Now how would 8 million new customers for gasoline not make the price go up?
http://news.bbc.co.uk/1/hi/business/6658583.stm
Sorry, had to double check those numbers.... and that appears to be Asia ...not China alone ....my bad...
well it also has to do with middle east countries along with china and india. their thirst for oil has been growing with their influx of money. That region is the biggest producer and less and less of their oil is coming over here in order to build their own industries.
"The oil people would have to do more to keep up"....
What can exxon mobil do, its not like they have the authority to drill on their own terms. They're not the ones controlling output. That is a global problem caused by governments and economies, Not one single U.S. corporation.
11 billion in profit 32 billion in taxes.
There absolutely is no oil shortage but it is a finite resource and market fluctuation and consumer habits do tend to have an effect, that's why it generally is more expensive at some times of the year (vacations in the summertime) and during production change overs for Heating oil etc.
I appreciate that people are upset over energy, but it's pretty hard to take people seiously when they are complaining about gas from the window of a 50K vehicle that gets 12MPG. Only now is the market interested in buying fuel efficient cars. They are only now feeling actual pain economically from energy.
Who told American's it was a good idea to live on average 8 grand in debt. Most of this.. we did to ourselves.
Wow 32 billion that is really sticking it to the working man, since it is not like tax revenue goes to pay for anything that the average person might use.
this is a pretty interesting article.
http://www.marketwatch.com/news/story/exxon-mobil-corporation-announces-estimated/story.aspx?guid=%7B2DAD9C6F-21A9-4D4D-A7C0-A7C31F91514D%7D&dist=hppr