yes another oil company profit thread!

To be fair, if you were a share holder wouldn't you want to make a profit?

If each vehicle in the US fills on average once per week then the oil company only started making a profit in the last 4 weeks of the year. Now lets consider that Exxon Mobil are an international company and 50% (most likely more but ...) of it's sales were outside USA, that means they started making money in the last 2 weeks of the year. But hang on, you didn't include aircraft in your profit share out or marine, so we need to consider all those jets and ships carrying goods and passengers around the world, tanks full of Exxon Mobil product. I'd suspect they combined use a lot of oil, so we better give them some of the profit share out say 50% of it sounds fair. Now we each get 1 weeks worth of fuel from Exxon Mobil for our share of the profit share out and Exxon Mobil share holders get nothing.

Lets return that profit to the share holders instead and look how they fare?
1 week out if 52 weeks all the revenue was profit, that's a whopping <2% mark-up!

Now I know my numbers are skewed but yours are hardly fair.

Now lets all show our hatred for oil companies and stop buying fuel for a month, that will show them.

I wrote all of the above before reading the article linked.

A little lower down than the OP's quote was: -

So you see every truck didn't mean real trucks just tonka trucks driven by men in check shirts who chew a blade of grass, oh and mums taking the kids to school.

How much of that profit benifits the USA? Exxon Mobil is an American company isn't it, like Chevron?
But they make their money buying oil from another country and selling around the world, where is the harm in that?

I hope every person is hurt by the price of petrol and does something to reduce their consumption.

 

Any corporation that makes $1300 per second is making a ridiculous profit, no matter how much of a dependence we have on them. And it's only partly our fault, most blame goes to the car companies.

Exxon posts quarterly, annual profit records - Feb. 1, 2008

 

For those unhappy with exxon's profits, they could always buy the drilling equipment, the refining equipment, the oil rich land, the workers, all the permits it takes to drill/transport/refine and form a company and get their oil that way.

 

Is that regardless of the size of the investment or number of share holders?

The vehicle manufacturers would stop making behomoths if Americans stopped buying them. Nothing would look sweeter than dealers yards full of new 2 year old SUVs with massive discounts they can't sell while reasonably sized vehicles are dominating the road.

 

What about the income of 1 man being almost half of that total per second income and it was 10 years ago!!

 

Petition your Senators & Congressmen to change the Internal Revenue Code or buy the stock.

 

I agree. In fact, in defense of Exxon, they are just "making their hay while the sun shines". I heard an "expert" on the subject today point out that we only have about five years before oil reserves peak and production will start to dwindle instead of increase. When this happens the price of oil is going to shoot up astronomically (supply & demand at its best or worst! )

Exxon needs to start investing in other sources of energy to stay in business in the long haul. Maybe they should start building nuke power plants.

 

Coming to a suburb near you soon. And a waste dump in the very next suburb, as long as it isn't in your back yard.

 

I think we've overlooked some things in the prices of oil as it is now traded at a "spot" price and it's worth is predetermined by the supplies and demand worldwide. Which OPEC has seen fit to control supplies to keep demand/prices as high as possible. Most of the on and off shore wells belonging to our own home-grown oil companies were wells drilled and proven long before the dawn of even $40-$50 barrel oil. Even most of them in ANWR, which is sold mostly to Korea and Japan. I can now see where they have been able to garner record profits. I still have a problem with the actual pricing determination since we were paying over $3.20 per gallon back when oil was $60 a barrel, why is it now not over $4 a gallon, unless there are other political pressures at play?

 

i detect a greater and greater departure from reality.

 

You're almost onto it. The pathetic part. Dems & Repub rep's BOTH get their campaign funds from the oilies. Why do you think NEITHER side has done squat about peak oil? All they do is placate us with tiney band aid type remedies. In stead of blaming the opposing political party, folks ought to try to simply figure this out ... doing an end run around the oilie contributers to our public officials ... if someone could just figure out how.

 

Does anyone know what the profit margin is for these oil companies? Thats where the real money is.

 

Well, speaking of reality, let's look at the price of gas realistically.

In 1980 the average price of gas for the year was $1.27/gal.

In 2007 the average price of gas for the year was $2.99/gal.

Adjusted for inflation, per the US Bureau of Labor Statistics, the 2007 price in 1980 dollars is only $1.00/gal. 27 cents less!

Yea, I remember when gas was only 25 cents a gallon. That's when I was making a dollar-an-hour. As a percentage of my wages now, a fill-up, especially in a Prius, is a REAL bargain!

 

fantastic news! I'll consider buying their stock!!

 

I think you are missing the POINT! ... the word is PROFIT ... PROFIT is defined as monetary income AFTER EXPENSES (like drilling equipment, refining equipment, drilling costs, permits, workers, paper clips etc., etc., etc., etc.!

Get it NOW?

OIL is a natural resource. It is something we have to purchase in order to exist.

We don't have to buy crappy software from Microsoft or snow cones if we don't want to.

We do HAVE to buy oil companies products like gas and heating oil. Because of this, the GREEDY PROFIT ORIENTED OIL COMPANIES have caused much of our countries woes.

Cars could be getting more than 80 miles per gallon if the Oil Companies had not snatched up every invention idea that could have increased mileage.

Explain how Venezuela can have gas prices (for years now) that hover around 12 cents a gallon?

For certain things in our country like for profit Medical Care and Oil (production / distribution) I believe there should either be strict regulations or the status of these companies should be forced to become to NON-PROFIT.

PEOPLE were suffering (and still are ) when Katrina hit years ago. What happened was nothing less than deplorable behavior … gas prices shot through the roof and who benefited the most? The people suffering the aftermath of the hurricane? Those that desperately needed a break because they had lost homes, possessions? No, the greedy oil company executives, their families, the select few stockholders, and anyone else in the industry were the big beneficiaries.

I am not sure I am intelligent enough to calculate how much PROFIT the all of the oil companies combined have made since 1960. So many factors, inflation, cost of living adjustments etc. I am guessing TRILLIONS of dollars in almost 50 years.

YES TRILLIONS IN PROFIT?

How many coats, sweaters, food items, shoes, and anything else you can think of that could have been purchased by the every day citizen who is continually RAPED by these fuc*ers that now have it more difficult than ever with gas prices over $3.00 per gallon!

I blame us, the people, for re-electing the greedy politicians who gain from the greedy oil companies.

I hate Bill gates not because he is super rich but because he created crappy software and got most people to buy it.

I have a choice NOT to buy his crap ... but in order to make a living I have to use that crappy software more than I would like to. I have to spend many precious moments of my life fixing, tweaking, rebuilding, re-installing, resetting settings that don't remain set from one day to the next because his company controls the computer industry. But I ultimately still have a choice!

I don't have the choice NOT to buy gas.

 

People here in the US need to remove the ignorant entitlement bucket from their heads and take a good look around. China and India are developing fast, they want to drive cars, they need oil as bad as we do, and they are willing to pay for it. Oil demand will continue to increase as the standard of living rises around the world.

The prices of oil and gas aren't determined by the greedy evil oil companies. There are more than six billion of us in the world. EVERY ONE of us is bidding for that same barrel of gas every time we fill up. Oil and gas are commodities purchased on open market exchanges. Supply is currently so tight, that even a small disruption of oil supply in a remote african country can cause prices to skyrocket.

Remember that the evil oil companies spend about nine dollars to make one dollar. They spend vast amounts to explore for oil, and dig at every source possible to ensure that we have a CONTINUED SUPPLY every morning when commuters need to fill up. $90.00 per barrel is a huge incentive for them to find more oil, and $3.00 per gallon is an even better incentive for them to find a way to refine it. The government cannot do a better or more efficient job here without rationing and long lines at the pump.

So now most americans are going to have to cut down from an SUV to a reasonable mid-sized sedan to have the same petrol bill that they had a few years ago. Boo hoo.