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Ophelia
she's baaccckkkk ;)
Member since 5/06 23378 total posts
Name:
remember, when Gulliver traveled....
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um, Exxon/Mobil posted 35 BILLION dollars in profit last year.
how is that possible!?
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Posted 5/5/11 2:37 PM  |
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BethanyLynn
Love these munchkins
Member since 10/09 6295 total posts
Name:
Bethany
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Re: um, Exxon/Mobil posted 35 BILLION dollars in profit last year.
SICKENING!!!!!!! 
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| Posted 5/5/11 2:37 PM |
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bobby769
LIF Infant
Member since 7/10 253 total posts
Name:
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Re: um, Exxon/Mobil posted 35 BILLION dollars in profit last year.
Global demand for oil is through the roof and shows no sign of change for the better.
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| Posted 5/5/11 2:39 PM |
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annoyedTTCer
LIF Adult
Member since 4/09 3272 total posts
Name:
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Re: um, Exxon/Mobil posted 35 BILLION dollars in profit last year.
I have no issue with that, they make something we all need.
Plus some of the largest mutual finds hold exxon stock so many folks a 401k do well when Exxon does well.
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| Posted 5/5/11 2:42 PM |
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juanvi
Get Out!
Member since 10/06 4463 total posts
Name:
Christina
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Re: um, Exxon/Mobil posted 35 BILLION dollars in profit last year.
Posted by annoyedTTCer
I have no issue with that, they make something we all need.
How could anyone be cool with this? I really find it horrid. Not sure, are the cotton people are making this kind of profit? We need lots of things...because of them we are paying more for EVERYTHING. BTW, they don't make anything, they just happen to own the company.
IMO they are EVIL...pure and simple. My stepfather in law thinks they're going to buy up all the lithium they found in Afganistan and control the battery fueled cars too. Interesting.
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| Posted 5/5/11 2:47 PM |
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annoyedTTCer
LIF Adult
Member since 4/09 3272 total posts
Name:
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Re: um, Exxon/Mobil posted 35 BILLION dollars in profit last year.
This is a good article
Oil companies make an easy scapegoat
Article by: DAVID A. WALBERG Updated: May 5, 2011 - 12:39 PM
In fact, their profits and taxes aren't out of line, and government itself deserves more blame for high gas prices.
With oil well over $100 per barrel and gas prices approaching $4 a gallon, large oil companies have been reporting record revenues and profits while the consumer is being squeezed.
It's popular to single out Big Oil's profits as a major reason for high gas prices. Indeed, President Obama and many in Congress are calling for an end to "subsidies" and for additional taxes on oil companies as a solution.
Yes, ExxonMobil booked a lot of revenue ($114 billion) and made a lot of profit ($10.9 billion) during the first quarter of 2011. But a closer look at ExxonMobil's financials reveals a different picture.
ExxonMobil's earnings come from operations in more than 100 countries -- more than three-quarters from outside the U.S. The part of ExxonMobil's business that refines and sells gasoline, diesel and other products in America represents about 6 cents on the dollar of its earnings.
Why so little? Because ExxonMobil actually buys more crude oil to refine into gasoline and diesel in the U.S. than they produce themselves. These oil purchases are made on the open market at prevailing rates.
Last quarter, ExxonMobil made about 7 cents on each gallon of gasoline, diesel and other products sold in the United States. In contrast, consumers pay anywhere from 40 to 60 cents per gallon in gasoline taxes to federal, state, and local governments (depending on where they live).
Obama and leading Democrats advocate removing what they call $4 billion per year in oil industry "subsidies." What they really mean is that they want to increase taxes on oil companies by taking away several deductions granted oil companies while leaving deductions in place for other sectors of the economy.
At right is a comparison of revenue, income, and taxes paid in the first quarter of 2011 by three well-known U.S. companies in very different businesses: Exxon Mobil -- oil production and refining; Apple Computer -- makers of the iPhone, iPad, iTunes, and computer systems; and Proctor & Gamble -- makers of Tide, Crest, Gillette, Pampers, and many other consumer products.
As the figures show, ExxonMobil's revenue dwarfs the other two companies. However, it currently makes less money on every dollar of revenue and pays higher taxes/duties on every dollar of taxable income.
(Taxes paid by all three companies are net of investment tax credits offered businesses to expand, invest, create jobs, and/or develop new oil reserves. Without these tax incentives, ExxonMobil's taxes would be higher and its net profit would be less on every dollar of revenue, further widening the disparity among the three firms. In fact, the profit margin for Exxon's integrated oil and gas business ranks 112th among all industries for the most recent quarter.)
Perhaps if politicians and the public examine the facts, they'll realize that Big Oil's financial metrics aren't excessive compared with other major corporations. On the basis of profits earned on each dollar of revenue, Obama should be talking about a "windfall profits tax" on smartphones and diapers.
High crude oil prices are the main reason for high gas prices. Those prices are set by the economic law of supply and demand. Government energy and environmental policies that prohibit domestic oil exploration and drilling, combined with instability in oil-producing countries, are the main culprits behind escalating oil prices.
If Obama wants to lower gasoline prices, he needs to reverse course and encourage development of vast domestic oil reserves in Alaska, the Gulf Coast, off the continental shelf, and in Western states.
This will increase the overall supply of oil on the world market causing oil and gasoline prices to decline. Higher taxes on oil companies will do nothing to lower gasoline prices but will undoubtedly be passed on to the consumer.
Its easier for politicians to blame oil companies for the high cost of gasoline, when their own policies are to blame. But no one has ever been reelected by confessing incompetence.
David A. Walberg is an investment adviser in Arden Hills.
To see referenced table click here:
http://www.startribune.com/opinion/otherviews/121281399.html
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| Posted 5/5/11 2:50 PM |
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BethanyLynn
Love these munchkins
Member since 10/09 6295 total posts
Name:
Bethany
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Re: um, Exxon/Mobil posted 35 BILLION dollars in profit last year.
Posted by juanvi
Posted by annoyedTTCer
I have no issue with that, they make something we all need.
How could anyone be cool with this? I really find it horrid.
IMO they are EVIL...pure and simple.
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| Posted 5/5/11 2:51 PM |
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annoyedTTCer
LIF Adult
Member since 4/09 3272 total posts
Name:
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Re: um, Exxon/Mobil posted 35 BILLION dollars in profit last year.
Posted by juanvi
Posted by annoyedTTCer
I have no issue with that, they make something we all need.
How could anyone be cool with this? I really find it horrid. Not sure, are the cotton people are making this kind of profit? We need lots of things...because of them we are paying more for EVERYTHING. BTW, they don't make anything, they just happen to own the company.
IMO they are EVIL...pure and simple. My stepfather in law thinks they're going to buy up all the lithium they found in Afganistan and control the battery fueled cars too. Interesting.
The point of being in business is to make money.
They picked a good field to be in, good for them.
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| Posted 5/5/11 2:51 PM |
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memi7206
LIF Adult
Member since 3/11 2355 total posts
Name:
Due Dec 29th!!!!!
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Re: um, Exxon/Mobil posted 35 BILLION dollars in profit last year.
thats DISGUSTING!
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| Posted 5/5/11 2:56 PM |
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juanvi
Get Out!
Member since 10/06 4463 total posts
Name:
Christina
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Re: um, Exxon/Mobil posted 35 BILLION dollars in profit last year.
Posted by annoyedTTCer
Posted by juanvi
Posted by annoyedTTCer
I have no issue with that, they make something we all need.
How could anyone be cool with this? I really find it horrid. Not sure, are the cotton people are making this kind of profit? We need lots of things...because of them we are paying more for EVERYTHING. BTW, they don't make anything, they just happen to own the company.
IMO they are EVIL...pure and simple. My stepfather in law thinks they're going to buy up all the lithium they found in Afganistan and control the battery fueled cars too. Interesting.
The point of being in business is to make money.
They picked a good field to be in, good for them.
I guess, but not an honorable one if they screw us like they do. Why not make gas a gagilliion $ a gallon and make even more money. According to BBC, last I heard, they are only increasing $ by speculating the supply/demand potential issues due to the uprise in Libya. That's not "picking a good field" that's sucking the life out of us. And you too, unless you are the owner of Exxon.
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| Posted 5/5/11 2:59 PM |
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annoyedTTCer
LIF Adult
Member since 4/09 3272 total posts
Name:
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Re: um, Exxon/Mobil posted 35 BILLION dollars in profit last year.
Posted by juanvi
Posted by annoyedTTCer
Posted by juanvi
Posted by annoyedTTCer
I have no issue with that, they make something we all need.
How could anyone be cool with this? I really find it horrid. Not sure, are the cotton people are making this kind of profit? We need lots of things...because of them we are paying more for EVERYTHING. BTW, they don't make anything, they just happen to own the company.
IMO they are EVIL...pure and simple. My stepfather in law thinks they're going to buy up all the lithium they found in Afganistan and control the battery fueled cars too. Interesting.
The point of being in business is to make money.
They picked a good field to be in, good for them.
I guess, but not an honorable one if they screw us like they do. Why not make gas a gagilliion $ a gallon and make even more money. According to BBC, last I heard, they are only increasing $ by speculating the supply/demand potential issues due to the uprise in Libya. That's not "picking a good field" that's sucking the life out of us. And you too, unless you are the owner of Exxon.
How do they screw us?
You could always take public transportation if you don't want to pay for gas or you could get a Hybrid to save on gas costs.
Did you read the article I posted?
Taxes are 5-7x higher per dollar than their profit. Why not complain to our leaders about that?
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| Posted 5/5/11 3:04 PM |
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JennZ
MY LIFE!!
Member since 8/05 25463 total posts
Name:
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Re: um, Exxon/Mobil posted 35 BILLION dollars in profit last year.
Thsts because they bend us over with each fill. $4.35 for REGULAR yesterday.
F$ck them!
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| Posted 5/5/11 3:06 PM |
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Xelindrya
Mommy's little YouTube Star!
Member since 8/05 14470 total posts
Name:
Veronica
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Re: um, Exxon/Mobil posted 35 BILLION dollars in profit last year.
Posted by annoyedTTCer
This is a good article
To see referenced table click here:
http://www.startribune.com/opinion/otherviews/121281399.html
Interesting.
Makes sense.
I see a lot of balance sheets and financials in my business. That 'bottom' line rarely tells the true story.
My company was 'worth' (totally different valuation) 1.2B in 2001, we are now worth 10.4B that's a 10X growth. Very impressive. We've also had no raises for three years, 401k matching stopped for 2yrs, pension plan was discounted (but still funded).
Point is, its so easy to call them evil but if you don't like it, don't buy it.
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| Posted 5/5/11 3:11 PM |
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acm1899
LIF Adult
Member since 1/11 1085 total posts
Name:
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Re: um, Exxon/Mobil posted 35 BILLION dollars in profit last year.
Posted by juanvi
Posted by annoyedTTCer
Posted by juanvi
Posted by annoyedTTCer
I have no issue with that, they make something we all need.
How could anyone be cool with this? I really find it horrid. Not sure, are the cotton people are making this kind of profit? We need lots of things...because of them we are paying more for EVERYTHING. BTW, they don't make anything, they just happen to own the company.
IMO they are EVIL...pure and simple. My stepfather in law thinks they're going to buy up all the lithium they found in Afganistan and control the battery fueled cars too. Interesting.
The point of being in business is to make money.
They picked a good field to be in, good for them.
I guess, but not an honorable one if they screw us like they do. Why not make gas a gagilliion $ a gallon and make even more money. According to BBC, last I heard, they are only increasing $ by speculating the supply/demand potential issues due to the uprise in Libya. That's not "picking a good field" that's sucking the life out of us. And you too, unless you are the owner of Exxon.
The US is no longer the big boy in the global market. Demand for oil is surging in countries like China and India and there is relatively little increase in global oil supplies, therefore if we go back to Economics 101, it's the supply and demand that is a major driving force behind the price.
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| Posted 5/5/11 3:12 PM |
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bobby769
LIF Infant
Member since 7/10 253 total posts
Name:
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Re: um, Exxon/Mobil posted 35 BILLION dollars in profit last year.
We need lots of things...because of them we are paying more for EVERYTHING.
Because oil permeates every aspect of not only our society but the world.
Sorry but comparing oil to cotton is really comparing apples to oranges. Actually it's a further stretch than that.
My stepfather in law thinks they're going to buy up all the lithium they found in Afganistan and control the battery fueled cars too. Interesting.
Gasp!!!
Those evil bastards, they won't even give you an opportunity to start your own lithium battery company.
Would you rather the taliban control the lithium?
BTW, the lithium in the desert is of a much lesser quality than what the US would get from the oceans and the time frame for gettin it from the desert is many many years away when compared to extracting it from the oceans.
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| Posted 5/5/11 3:23 PM |
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bobby769
LIF Infant
Member since 7/10 253 total posts
Name:
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Re: um, Exxon/Mobil posted 35 BILLION dollars in profit last year.
According to BBC, last I heard, they are only increasing $ by speculating the supply/demand potential issues due to the uprise in Libya. That's not "picking a good field" that's sucking the life out of us. And you too, unless you are the owner of Exxon.
That's a big part of it but keep in mind
#1 hedging has been around for thousands of years
#2 the oil companies are not the only ones who hedge. You've got investment firms whose sole purpose is to hedge the crap out of anything that someon is willing to bet the future price on.
#3 if you own a mutual fund you're contributing to the rise in crude due to hedging. In fact companies like walmart, mcd, microsoft, also hedge the futures market.
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| Posted 5/5/11 3:30 PM |
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