Exxon/Mobil $9.9 billion profit for the quarter!!!

[H2Finally]

P R O F I T $9.9 BILLION FOR 1 QUARTER.

ALL ARGUMENTS ARE BELONG TO IRRELEVANT

[ckhagman]

<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by Poseur:
I notice that as soon as the commodities market clicks up a cent, it is reflected at the pump in 3 seconds. However, if it the market goes down 30 cents, the price at the pump doesn't go down for 3 weeks! $##$@@!#
It's because the station owners will raise the price of gas with the market even though the gas in their tanks was purchased at a lower price. Once they refill those tanks at the higher gas price, they cannot lower their price much and make a profit on the gas they are holding so they must keep the price up even after the pricing goes back down until they refill their tanks at the new lower price. </div></BLOCKQUOTE>

Station owners are working from tank load to tank load. EACH fuel delievery is paid for or has to be paid for buy wire transfer in less than 24hours. Most tanks at stations are 20,000gals and each station might have 3. 2 tanks of 87 and 1 tank of premium. Not a whole lot of stations can turn over 20,000gals in a day when the average is only 100,000 to 150,000gals a month. Sure 1 station might be able to turn over 1,000,000gals a month but it is very rare.

[1BADH2]

WTF?! Still $2.70 in NY

[ratesguy]

Whoever said pipelines are receiving aid to be rebuilt does'nt know what they are talking about. Pipelines are underground. They were taken out of service just before the huricanes hit because of anticipated damage to offshore facilities. The above ground stations were not severely damaged and were put back into sevice almost immediately. No aid was applied for or received, as pipelines are regulated on a cost of service basis by the FERC.

[FreeorDie2]

<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by sfox:

Have you been paying attention to their quarterly profit reports for the last couple of years? They have recorded RECORD profits alomst every quarter for quite some time now.
</div></BLOCKQUOTE>

So what? Let me get this straight. . . Those who invest in Exxon Mobile pony up the dough to do the research, do the drilling, get the oil, refine it, and get it to market. They take all the risks and the company does all the work. For their risk and effort, when demand is high (and it's never been higher), they get to charge what the market will pay (and India and China will PAY!).

But you, doing nothing to find, drill, recover, refine, or retail the oil somehow should get it cheap? The Exxon investors should forego their profit so you can drive around all you want without spending more money?

Man oh man. . . you must be VERY special!
Either that or a socialist. . .

[Bondage]

<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by FreeorDie2:
<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by sfox:

Have you been paying attention to their quarterly profit reports for the last couple of years? They have recorded RECORD profits alomst every quarter for quite some time now.
</div></BLOCKQUOTE>

So what? Let me get this straight. . . Those who invest in Exxon Mobile pony up the dough to do the research, do the drilling, get the oil, refine it, and get it to market. They take all the risks and the company does all the work. For their risk and effort, when demand is high (and it's never been higher), they get to charge what the market will pay (and India and China will PAY!).

But you, doing nothing to find, drill, recover, refine, or retail the oil somehow should get it cheap? The Exxon investors should forego their profit so you can drive around all you want without spending more money?

Man oh man. . . you must be VERY special!
Either that or a socialist. . . </div></BLOCKQUOTE>


I find that many "hard-core" conservatives become socialists the moment something affects their own wallet. Principaled, sincere, real conservatism requires one to be intellectually honest and accept the bad with the good that comes from a sincerely held and CONSISTENT belief system.

Sean

[FreeorDie2]

<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by ckhagman:
]

I would like to know what Exxon/Mobils ROI was on this 9.9 billion. i.e. if last years was 2% and this years was 2% then who really cares. But if this hear was significantly higher like 6% or more than it is a problem. </div></BLOCKQUOTE>

Why is it a problem? Who are you, or who is anybody, to say how much profit a company should make? How much money do you make? How much of a pay raise did you get this year? Last year? Does anyone but your employer have a right to say if it's too much or too little?

How much money did you risk over the last X years to make sure gas gets to market? I'll bet that if you were heavily invested in XOM, you'd be singin' a different damn song. . .

[H2Finally]

The ability of a company to make a profit is NOT the point.

The point is about how we are all FORCED to pay MUCH HIGHER gas prices because of xyz reasons -- then to find out that those xyz reasons = bullsheit -- because this ONE company alone is earning $9.9 BILLION IN 1 QTR.

When Microsoft was deemed "too monopolistic" it got censured by the government. That was for a computer o/s software with lots of alternative CHOICES for the consumers (you can buy a Macintosh instead).

When Exxon earns $9.9B and the second company earns $9+B PROFIT/QUARTER ("cartel"??!) -- WHERE THE CONSUMERS HAVE NO CHOICE BUT TO BUY GAS TO LIVE (don't get semantic and bring up peanut-oil-powered cars ) -- where is the government intervention?

Here's a closer analogy:

If the bird flu virus becomes a rampage in the US, and Roche said "Hey! DEMAND IS UP!!" and charged $10,000 per tablet of Tamiflu and make $9.9B for that quarter -- do you think there will be a public outcry?

Summary:
I don't have a problem if I can CHOOSE to pay the price and make that company rich. But when I'm FORCED to pay the price,

Why so surprised with THIS pubic outcry?

[FreeorDie2]

<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by Bondage:

I find that many "hard-core" conservatives become socialists the moment something affects their own wallet. Principaled, sincere, real conservatism requires one to be intellectually honest and accept the bad with the good that comes from a sincerely held and CONSISTENT belief system.

Sean </div></BLOCKQUOTE>

Quite true. And sad when people allow self interests to influence principle.

Here's the thing. . . There is only one circumstance that I can imagine where one could find fault with Exxon. If, absent government interference either here or abroad, they were selling oil and gas around the world for $N and with no other costs involved, they were selling it to US customers for $Nx2 or $Nx3, that might be gouging. Otherwise, as far as I'm concerned, they're entitled to charge what the market will pay. The oil business is an expensive venture. . .they have a right to make a profit.

[FreeorDie2]

<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by H2Finally:
The ability of a company to make a profit is NOT the point.

The point is about how we are all FORCED to pay MUCH HIGHER gas prices because of xyz reasons -- then to find out that those xyz reasons = bullsheit -- because this ONE company alone is earning $9.9 BILLION IN 1 QTR.

When Microsoft was deemed "too monopolistic" it got censured by the government. That was for a computer o/s software with lots of alternative CHOICES for the consumers (you can buy a Macintosh instead).

When Exxon earns $9.9B and the second company earns $9+B PROFIT/QUARTER ("cartel"??!) -- WHERE THE CONSUMERS HAVE NO CHOICE BUT TO BUY GAS TO LIVE (don't get semantic and bring up peanut-oil-powered cars ) -- where is the government intervention?

Here's a closer analogy:

If the bird flu virus becomes a rampage in the US, and Roche said "Hey! DEMAND IS UP!!" and charged $10,000 per tablet of Tamiflu and make $9.9B for that quarter -- do you think there will be a public outcry?

Summary:
I don't have a problem if I can CHOOSE to pay the price and make that company rich. But when I'm FORCED to pay the price,

Why so surprised with THIS pubic outcry? </div></BLOCKQUOTE>

Stuff and nonsense. You're saying this in a Hummer forum, for Christ sake. You have all kinds of choices, as do I, as do most Americans. And Exxon doesn't have a 95% market share like Microsoft (which, by the way, I fully support even if they are a monopoly. They were smart enough and tough enough to market a product that everyone now uses. They deserve to reap the benefits).

You want to blame someone? Blame the government. We still aren't drilling in parts of Alaska or in parts of the Gulf. We haven't built a new refinery in 25 years and government regulations make it a long and expensive process to complete. And if Exxon made a $10 billion profit, I wonder how much a profit was made by federal, state, and local governments that also take a cut of what you and I pay.

And if you really believe you are FORCED to pay, you are seriously deluding yourself. You are paying it because you want to. . .just like I am. I could drive my Stealth and get 2.5 time the gas milage I get in my SUT. Or I could buy a hybrid or I could ride a bike. So could you. . .

Forced. . .what a joke! One would think you were living in the USSR. . .

[CslRkH2]

Gas Taxes are fixed per gallon and not based on a percentage. So when gas prices rise, the gov't doesn't gain.

When a company makes more than Microsoft & Walmart COMBINED in a QTR when they were complaining about damage to facilities and BLAH Freakin BLAH, then I'll call BULLSH!T

[Ted]

<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by CslRkH2:
Gas Taxes are fixed per gallon and not based on a percentage. So when gas prices rise, the gov't doesn't gain.

When a company makes more than Microsoft & Walmart COMBINED in a QTR when they were complaining about damage to facilities and BLAH Freakin BLAH, then I'll call BULLSH!T </div></BLOCKQUOTE>

I can’t believe people are so freaked out about big profits. It’s the American way. That is why business exist, to maximize profits. I just say they are well run corporations.

Now we have dumb ass members of congress taking about a windfall profits tax. Isn’t that great, we are going to let the government decide when a company makes too much money.

If you don’t like the price of gas don’t buy it.

[FreeorDie2]

<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by CslRkH2:
Gas Taxes are fixed per gallon and not based on a percentage. So when gas prices rise, the gov't doesn't gain.

When a company makes more than Microsoft & Walmart COMBINED in a QTR when they were complaining about damage to facilities and BLAH Freakin BLAH, then I'll call BULLSH!T </div></BLOCKQUOTE>

Oh course you would. . .unless you had invested the money or done the work over the long haul to make it possible. And all the fact that gas taxes are a fixed amount means is that taxes become a smaller percentage at the pump. XOM is still paying corporate taxes which are a percentage of profit, not to mention the income taxes paid by their employees on the money they earn.

In 1971, a pack of cigarettes and a gallon of gas both cost about 35 cents. Cigarettes now cost about $5 a pack and a gallon of gas seems to have settled in at about $2.50. Compared to the increases in the cost of butts, milk, bread. . .even the cost of cars (I bought a new Mustang II in 74 and it cost me $4000. . .I don't own a car now that cost less than $40,000 new), gas is still a bargain.

Get over it. . .

[CslRkH2]

<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by FreeorDie2:
<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by CslRkH2:
Gas Taxes are fixed per gallon and not based on a percentage. So when gas prices rise, the gov't doesn't gain.

When a company makes more than Microsoft & Walmart COMBINED in a QTR when they were complaining about damage to facilities and BLAH Freakin BLAH, then I'll call BULLSH!T </div></BLOCKQUOTE>

Oh course you would. . .unless you had invested the money or done the work over the long haul to make it possible. And all the fact that gas taxes are a fixed amount means is that taxes become a smaller percentage at the pump. XOM is still paying corporate taxes which are a percentage of profit, not to mention the income taxes paid by their employees on the money they earn.

In 1971, a pack of cigarettes and a gallon of gas both cost about 35 cents. Cigarettes now cost about $5 a pack and a gallon of gas seems to have settled in at about $2.50. Compared to the increases in the cost of butts, milk, bread. . .even the cost of cars (I bought a new Mustang II in 74 and it cost me $4000. . .I don't own a car now that cost less than $40,000 new), gas is still a bargain.

Get over it. . . </div></BLOCKQUOTE>

I am not against big profits or looking for any more laws. I think the current laws against collusion should be enforced in this situation.

When a company like Walmart or Microsoft dominates a market through competitive practices (i.e. volume purchasing and lower prices than their comp) that is one thing. When the 4 oil companies collude and decide to stick it to EVERY American, not just the ones that can afford a HUMMER or several $40k cars then that;s just wrong.

[FreeorDie2]

<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by CslRkH2:

I am not against big profits or looking for any more laws. I think the current laws against collusion should be enforced in this situation.

When a company like Walmart or Microsoft dominates a market through competitive practices (i.e. volume purchasing and lower prices than their comp) that is one thing. When the 4 oil companies collude and decide to stick it to EVERY American, not just the ones that can afford a HUMMER or several $40k cars then that;s just wrong. </div></BLOCKQUOTE>

Collusion? Really? Interesting. . .So, over the last 35 years or so, when the price of gas has gone up, would you say that the oil companies are in collusion? If so, how about when the price goes down as it always does to some extent?

Your suggestion that the oil companies got together and agreed to boost the prices for a period of about a month are patently rediculous. If they were agreeing to raise prices, then why not just keep them at $3 a gallon? Or $3.50? Did they collude to keep the prices at a buck a few years ago? Every time the price of gas goes up, people scream that the oil companies get together and impose high prices, but if they had the power to do that, why do the prices always go back down again? Why not keep the price of gas and heating oil high all the time?

Like I said, gas is cheap by comparison to almost anything you can buy now compared to 30 years ago. Oil companies aren't charities. . .oil is a market based commodity. Some folks seem to think that, along with "privacy," you can find some kind of kind of right to cheap gas in the US Consitution. I hate to be the one to break it to you, but unless you want to refine the oil yourself (which you do have a right to do), you've got to pay the market rate.

[CslRkH2]

Collusion...I know it will never be investigated or proven. But I'm surprised that you find it such a stretch. And No, in the 70s there actually were fuel shortages. Thus the supply side of the equation caused prices to increase. In the past couple months supply and demand has been constant (other than a few specific areas). From the financial stmts there doesn't seem to be any reason for these latest price spikes other than pure greed.

[PARAGON]

What a bunch of F'ing idiots. You are simply trying to win an argument instead of offering anything of real value to the discussion. Trying to make things personal. "It's a Hummer forum..." "you don't have to buy the fuel".

Just F'ing idiots. Everything..... absolutely everything in the US economy is affected by the price of fuel. Everything you buy from the sandpaper you wipe your butt with to the Evian water you drink is affected by the price of fuel. If you don't understand that there are only a handful of oil companies that directly and daily control fuel prices, then move on, you don't have enough knowledge to participate in this discussion.

The oil market of the past 3-5 years is nothing near the oil market it was before. Why in the hell are gas prices dropping now? Because they were caught with their hand in the cookie jar, nothing else. There were no production increases or anything else to explain the $0.25 drop in regular gasoline except pressure was starting to be applied. Did a correlating drop in diesel fuel happen? NO! Why? Because trucking companies are passing the buck along to the consumer right now and are not crying as much, except for the little businesses that don't matter.

Let me say this one more time for those of you that don't realize this. Exxon/Mobil receives about $25,000,000,000 ($25B) every year in some form of subsidies from the United States Government. So, if you don't understand why this argument needs to be had then there is no one intelligent enough to explain it to you.

If you still don't get it and think they are simply trying to make a profit. Exxon/Mobil is sitting on over $30BILLION is liquid cash. CASH!!! If you can't add all of this up and see that a publicly traded company that provides a commercial necessity to the US economy, who also receives ridiculous amounts of subsidy from the government, and then is able to nationally increase the price of fuel in the matter of a day, then..... ding, your fries are done!

[DennisAJC]

<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by PARAGON:
What a bunch of F'ing idiots. You are simply trying to win an argument instead of offering anything of real value to the discussion. Trying to make things personal. "It's a Hummer forum..." "you don't have to buy the fuel".

Just F'ing idiots. Everything..... absolutely everything in the US economy is affected by the price of fuel. Everything you buy from the sandpaper you wipe your butt with to the Evian water you drink is affected by the price of fuel. If you don't understand that there are only a handful of oil companies that directly and daily control fuel prices, then move on, you don't have enough knowledge to participate in this discussion.

The oil market of the past 3-5 years is nothing near the oil market it was before. Why in the hell are gas prices dropping now? Because they were caught with their hand in the cookie jar, nothing else. There were no production increases or anything else to explain the $0.25 drop in regular gasoline except pressure was starting to be applied. Did a correlating drop in diesel fuel happen? NO! Why? Because trucking companies are passing the buck along to the consumer right now and are not crying as much, except for the little businesses that don't matter.

Let me say this one more time for those of you that don't realize this. Exxon/Mobil receives about $25,000,000,000 ($25B) every year in some form of subsidies from the United States Government. So, if you don't understand why this argument needs to be had then there is no one intelligent enough to explain it to you.

If you still don't get it and think they are simply trying to make a profit. Exxon/Mobil is sitting on over $30BILLION is liquid cash. CASH!!! If you can't add all of this up and see that a publicly traded company that provides a commercial necessity to the US economy, who also receives ridiculous amounts of subsidy from the government, and then is able to nationally increase the price of fuel in the matter of a day, then..... ding, your fries are done! </div></BLOCKQUOTE>


SO ENDETH THE LESSON.

[h2co-pilot]

<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by PARAGON:
Blah blah...crappity crap...never got into this thread so I didn't read it all but I caught this: then..... ding, your fries are done! and LMAO- love CP </div></BLOCKQUOTE>

[H2Finally]

<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by FreeorDie2:
Forced. . .what a joke! One would think you were living in the USSR. . . </div></BLOCKQUOTE>What's got to do with the Hummer? No matter what you drive, you need gas, no? If you are not "forced" to buy gas, to work, to live -- and have another secret (non gas) source of power for your daily driver, do share If not, then..... ding, your fries are done!

<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by Ted:
If you don’t like the price of gas don’t buy it. </div></BLOCKQUOTE> No matter what you drive, you need gas, no? If you are not "forced" to buy gas, to work, to live -- and have another secret (non gas) source of power for your daily driver, do share If not, then..... ding, your fries are done!