[ska///235i]

Recession my ass, I think the stimulus payments from the Gov is just a rebate from what we paid at the pump

Exxon Mobil earn $40+ Billion profit in 2007.....$40 billion..Dawmmm

article from Foxbusiness:

SANTA MONICA, Calif., Feb 01, 2008 /PRNewswire-USNewswire via COMTEX/ -- FTCR Also Releases "Oil Profit Monster;" Free Public Database of Each Company's Profits Since 2000 Will Be Updated Quarterly

Record quarterly and yearly profits reported today by ExxonMobil and Chevron must trigger action by Congress to control unregulated energy markets, said the Foundation for Taxpayer and Consumer Rights. Exxon is making more than $75,000 a minute around the clock on crude oil prices that are at unjustifiable levels. Oil companies have opposed legislation to regulate electronic energy trading, even as they deflect blame by pointing to such markets as the reason for crude oil prices that remain above $90 a barrel.

To aid analysis and comparisons of all major oil companies' profits since 2000, FTCR today released its comprehensive "Oil Profits Monster" database, along with graphics of company-by-company oil profits. See more on this powerful tool, including its unique handling of merged companies, companies, below.

Exxon's $40.6 billion annual profit and Chevron's $17.1 billon come at the cost of an economy tipping into recession, said FTCR. While Exxon makes the largest corporate profit by any corporation, ever, families pay $60 and more for a gas station fill-up and Northeasterners are shelling out more than $2,000 on average for heating oil.

"The 2007 profit of just the three U.S.-based major oil companies comes to $70 billon, even as the federal government is about to pay out $100 billion-plus for economic stimulus payments to families," said Judy Dugan, research director of the nonprofit, nonpartisan FTCR. "Yet Americans are deeper in consumer debt than ever in large part for high energy costs. If the stimulus mainly pays credit card debt racked up at the gas station, it won't stimulate anything."

[san~man]

The EPA should charge them a few billion the next time one of their tankers spills oil into the ocean or a bay. Seems like the millions we charge is letting them off too easy.

[ska///235i]

so if 3 U.S.-based major oil companies comes to $70 billon in profit.....there's at least 3 billion $ we paid on taxes for those oils


if we are at a shortage...shouldn't the gov. regulate on gas gustlers and make hybrids standard
this is BS

[Jay_328]

And one wise@$$ executive said they wouldn't lower gas prices and that all Americans have a choice to either drive less or continue to pay higher prices. True we have a choice but the MF'er was so smug about it.

It really pissed me off to hear him say that.

[Bobby_Light]

I am not a fan of oil companies having record profits, but we need to look at one of the main issues with oil prices and that is the strength of the dollar. As the dollar continues to devalues, a barrel of oil will costs more and more dollars to buy because each individual dollar is worth less and less. We cannot continue our economic policies (borrowing and printing money). Different goods react to inflation differently; oil happens to be one that reacts sharply, and Americans are going to pay at the pump.

[AndrewAZ]

Our government makes more per gallon than the oil companies... Depending on your state the government makes 50-60+ cents a gallon (In some states almost 70cents), Exxon makes 8-11 cents a gallon. Figure in to make the $3 a gallon you had to earn about $5-7 depending on your state since you take out taxes your left with $3. So your basically paying the government per gallon a hidden fee of $2-3 plus the visible fee of 50-60+ cents a gallon.. (we all know that tax money goes to ear marks aka the bridge to an empty island in alaska.)

We have plenty of oil, we just dont have the refining capacity party because of the democrats not allowing any new refineries for the past 20+ years kind of the same way they have not allowed any nuclear power plants to be built, which would solve a heck of a lot of energy and pollution problems since only 11% of our power comes from nuclear/hydro and other "clean" sources and the rest comes burning coal and oil.. I think we should reverse that like france did and have 80%+ of our energy coming for nuclear power.

[txusa03]

All the giant oil $ hungry companies had to appear in congress to explain their greedy profit earning on April fool. What a joke! They all sit there and say their profit margin is in line with other big companies my

These $ hungry oil companies are driving independent truckers to the ground, the gas stations owner are making very little profit from selling their gasoline.

Hey giant oil $ hungry companies, how about sharing some of that profit with the people who make you sucessfull (the consumers and gas station owners and truckers).

Bastards!

rant over

[rocketman]

Nobody has mentioned the cost of oil being contributed to the high increase of world wide demand. We are a player in much bigger market when you consider rising giants such as India and China who are constantly consuming more and more oil. Open ANWAR and we will all be fine.

[txusa03]

Originally Posted by AndrewAZ

We have plenty of oil, we just dont have the refining capacity party because of the democrats not allowing any new refineries for the past 20+ years kind of the same way they have not allowed any nuclear power plants to be built, which would solve a heck of a lot of energy and pollution problems since only 11% of our power comes from nuclear/hydro and other "clean" sources and the rest comes burning coal and oil.. I think we should reverse that like france did and have 80%+ of our energy coming for nuclear power.

I heard this on the news 5 months ago about how we don't have enough refineries for the past 20 yrs while demands is constantly increasing as well.

[TurboFan]

Originally Posted by rocketman

Nobody has mentioned the cost of oil being contributed to the high increase of world wide demand. We are a player in much bigger market when you consider rising giants such as India and China who are constantly consuming more and more oil. Open ANWAR and we will all be fine.

There's even more to it than that. Countries like India, China and most middle eastern countries subsidize their oil for their citizens, making it very cheap. There is no need to conserve in places like China, and THEY are the ones driving up raw materials prices.

If you want to be pissed at someone, look at the people driving up the prices. Supply and demand is an amazingly simple concept.

[iatacs19]

at least someone is making money during this "recession"

[Couch]

Originally Posted by AndrewAZ

Our government makes more per gallon than the oil companies... Depending on your state the government makes 50-60+ cents a gallon (In some states almost 70cents), Exxon makes 8-11 cents a gallon. Figure in to make the $3 a gallon you had to earn about $5-7 depending on your state since you take out taxes your left with $3. So your basically paying the government per gallon a hidden fee of $2-3 plus the visible fee of 50-60+ cents a gallon.. (we all know that tax money goes to ear marks aka the bridge to an empty island in alaska.)

We have plenty of oil, we just dont have the refining capacity party because of the democrats not allowing any new refineries for the past 20+ years kind of the same way they have not allowed any nuclear power plants to be built, which would solve a heck of a lot of energy and pollution problems since only 11% of our power comes from nuclear/hydro and other "clean" sources and the rest comes burning coal and oil.. I think we should reverse that like france did and have 80%+ of our energy coming for nuclear power.

Exactly and we've needed refinaries for decades, yet the greenies wouldn't/won't allow it. It's going to take decades to find an actual reliable, efficient, long-lasting fuel source. Until then, we need to build shit in our own country until that can come about. But the poster that mentioned our falling dollar is a huge factor. Not just in oil prices, but everything.

And I know some folks that work for oil companies and they are getting paid quite decently.

I own Exxon stock. It paid for my college tuition, living, and partying.

[!Xoible]

that's where the gas increase is! G Dubbya's pocket

[Couch]

Originally Posted by mantis

that's where the gas increase is! G Dubbya's pocket

It's more than just his.

All of these "hearings" in Congress with the Oil companies is all setup nonsense. They're all in bed with one another.

[!Xoible]

Originally Posted by Couch

It's more than just his.

All of these "hearings" in Congress with the Oil companies is all setup nonsense. They're all in bed with one another.

and that's why we're in iraq, and that's why the dems stfu about the war after getting elected in november 06, and that's why our soldiers keep on falling, and that's why ..... im paying 4 dollars for a gallon of gas

[Last E92 M3]

i wonder how shell is doing

[mrbelk]

A couple of points, and while I don't work for a big oil company, my company does do a decent amount of business in the "energy sector":

Oil companies are all huge multinational corporations with tens of thousands of employees and operations all over the globe in some of the most hostile climates on earth.

Yes, the big oil companies earn huge profits, but their gross revenues are also huge. Exxon Mobile's profit _margin_ for 2007 was only 10% (~$40Bn profit on ~$400Bn gross revenue). That is inline, and in many cases, less than the profit margins in many other industries.

Most pension plans for groups like teachers, nurses, firefighters, law enforcement officers, etc. have significant components of their portfolios invested in "big oil." Do you think they are clamoring to their fund managers to divest those holdings in protest? Didn't think so.

Exxon Mobile paid as much in federal taxes in 2006 (~$27Billion) as the bottom 50% of _all_ income earners in the U.S. did in 2004. And the taxable income on which those taxes were paid by Exxon Mobile (~$60Bn or so) was a fraction of the reported income on which they were paid by the bottom 50% (~$900Billion). One corporation paying as much as 50% of the taxpayers in the entire country. Don't tell me that they don't pay their "fair share."

The oil companies don't set the price of any of their products. Those values are determined on the open commodity market. No one had any sympathy for the oil companies when oil was trading at only $15/bbl and they were all losing their shirts. If they had been able, don't you think they would have raised their prices then, like you claim they should lower their prices now?

If you were on the BoD of a large company making tons of money, how would you feel if the Imperial Federal Government of the United States wanted to steal your 100% legally earned profits?

Oh, and like has been already pointed out, government (local, state, federal) makes much more per gallon of gas sold than the oil companies do, especially since the taxes levied are based on the $$$ value of the fuel sold and not on the volume of fuel sold.

Some common sense, please.

-MrB

[!Xoible]

Originally Posted by Last E92 M3

i wonder how shell is doing

shell isnt an american company, they didnt invade a oil country, so they might be doing okay but not as good as exxon

[DFW_M]

Originally Posted by txusa03

I heard this on the news 5 months ago about how we don't have enough refineries for the past 20 yrs while demands is constantly increasing as well.

Kids talk...and some will believe whatever W tells them...
Obvious manipulation of the market while some make huge $$$

[DFW_M]

Originally Posted by TurboFan

There's even more to it than that. Countries like India, China and most middle eastern countries subsidize their oil for their citizens, making it very cheap. There is no need to conserve in places like China, and THEY are the ones driving up raw materials prices.

If you want to be pissed at someone, look at the people driving up the prices. Supply and demand is an amazingly simple concept.

Once you show us that the demand went up 300% (as the prices) in the last 6 years, and did not in previous 20 years -- I'll believe your simple concept.

Otherwise -- crap

[txusa03]

And yet another win for the oil industries as they are LOL at us for throwing punches at each others over an internet forum all because of high gas price.

[DFW_M]

Originally Posted by txusa03

And yet another win for the oil industries as they are LOL at us for throwing punches at each others over an internet forum all because of high gas price.

But numbers are straight forward and don't lie:
- in 2000 the price of gas was $1.26/gal on average and XOM sold ~$200B+ in Revenue
- today, the average price is up more than 2.5x and their revenues are $361B in 2007

Therefore, either XOM is not doing well, or the demand is actually not higher as some would like us to believe...
Revenues and profits are purely driven by the price increase that benefits someone else but us (regular users)...