EXXON sales $100 BILLION/Profit $8.3 BILLION! (merged)

[Bobby Orr 4]

Exxon Mobile posts record profit

Profit for the quarter: $9.9 billion

From Reuters News business

 

[say again]

WOW!!!!

I wonder how that could be!?!?!?!:bomb:

 

[FN FAL]

Yea, if they gave it away for free, they'd never make any money.

 

[mamba20]

The fleecing continues

 

[FN FAL]

The fleecing continues

Fleecing?

 

[Chuck Yogourt]

I thought Exxon had to charge $2.50 a gallon for jet fuel becuase of refineries being off line. You don't suppose they used that as an excuse do you? I am in shock.

 

[Hair-on-Fire]

Yea, if they gave it away for free, they'd never make any money.

But we'll make it up in volume

 

[CA1900]

tr.v. fleeced, fleec·ing, fleec·es

1. To defraud of money or property; swindle.

As you may or may not have noticed, Bush has more than a few ties to the oil industry. This is more than just a small conflict of interest.

Condoleeza Rice was a director at Chevron -- they named an oil tanker after her. She resigned that post only a week before joining Bush as National Security Advisor. Cheney's ties to Halliburton are well-known.
The Bush Family's ties to the Carlyle Group are very well-known.

When oil makes money, the Bush family makes money. See the relationship?

 

[say again]

When oil makes money, the Bush family makes money.

And I lose my shirt!!:laugh:

 

[SWA GUY]

I'm glad I have some portion of my investment portfolio in oil company MLP's and stocks.

The oil companies are the bad guys for making a profit? Riiiiight.

Don't the big oil companies employ hundreds of thousands of people? Provide insurance for those employees? Give them an opportunity to build a life? Allow them to get ahead and make a better life? Bring in huge sums of tax revenue?

Wake up people. Big business=good. Socialism/communism=bad.

 

[say again]

I'm glad I have some portion of my investment portfolio in oil company MLP's and stocks.

The oil companies are the bad guys for making a profit? Riiiiight.

Don't the big oil companies employ hundreds of thousands of people? Provide insurance for those employees? Give them an opportunity to build a life? Allow them to get ahead and make a better life? Bring in huge sums of tax revenue?

Wake up people. Big business=good. Socialism/communism=bad.

Yeah, agreed, but there is no need to inflate the prices the way they are.

 

[whymeworry?]

As airline employees, we should all demand that any oil company employee traveling on our aircraft pay a fleecing surcharge. Oh, but wait... big oil travel on their own executive jets. They would never stoop and travel with us common folk.

 

[Hpilot]

Yep,
The guy that lives across the street from me(yeah I'm the poor one on my block) is one of the higher ups at the local refinery. His bonus check is so large he's trading up on his power boat. After all the things only 40ft and it's already 2 years old. He thought it was funny because after they first started raising prices the demand increased. All the oil from his refinery is brought into Washington state by tanker, refined here and the finished product stays here. There was absolutely no disruption with their process. They couldn't pass up the chance however to screw us all and make a big profit(northwest has some of the highest gas prices). Good old supply and demand excuse. Time to ask him if they have any job openings.

 

[SWA GUY]

Say Again,

Ima gonna take the time to explain this to you.

You(insert your oil ccompany name here) own a big oil company that does and owns various things. You own coal mines, gas fields, offshore/onshore drilling rigs, as well as fractionation plants.

When the price of crude oil is $11.00/bbl the oil/gas in your fields sit there making very little money. Your offshore/onshore rigs do almost nothing(which costs you a ton of money to do nothing) and your fractionation plants produce the bare minimum.

Now, the price of oil(crude oil futures on the Mercantile Exchange) goes up to $40/bbl-$60/bbl due to investers thinking they can make money in crude oil futures(they have and can) and suddenly all your gas/oil fields are worth a whole lot more. Your offshore/onshore rigs are producing like mad, and the fractionation plants are at full output.

Now, there'd be a huge change in profit from $11/bbl to $60/bbl. "Record Profit" even.

The price at the pump is largely linked to margin. about 7-12% is pretty standard. I will say that gas(at the pump) goes up rather fast, and down rather slowly. I hate that too, but I don't own a gas satation and can't help you.

I hope this helps.

Ca1900 you Sir, are a complete moron!

 

[say again]

Say Again,

Ima gonna take the time to explain this to you.

You(insert your oil ccompany name here) own a big oil company that does and owns various things. You own coal mines, gas fields, offshore/onshore drilling rigs, as well as fractionation plants.

When the price of crude oil is $11.00/bbl the oil/gas in your fields sit there making very little money. Your offshore/onshore rigs do almost nothing(which costs you a ton of money to do nothing) and your fractionation plants produce the bare minimum.

Now, the price of oil(crude oil futures on the Mercantile Exchange) goes up to $40/bbl-$60/bbl due to investers thinking they can make money in crude oil futures(they have and can) and suddenly all your gas/oil fields are worth a whole lot more. Your offshore/onshore rigs are producing like mad, and the fractionation plants are at full output.

Now, there'd be a huge change in profit from $11/bbl to $60/bbl. "Record Profit" even.

The price at the pump is largely linked to margin. about 7-12% is pretty standard. I will say that gas(at the pump) goes up rather fast, and down rather slowly. I hate that too, but I don't own a gas satation and can't help you.

I hope this helps.

Ca1900 you Sir, are a complete moron!

I got ya, I'm just fed up with ridiculous prices these days. There have been instances where gas stations have "jacked up" the prices illegally. I do understand what you are saying, thanx.