Exxon Profits

[Fish_Whisperer]

It's great news. That's almost $40 billion dollars flowing into our economy rather than going somewhere else.

Bingo. American money going into American companies. Isn't that a nice change from every other sector, where we've basically sold our nation down the river by selling off our manufacturing base. If the trend keeps on going, America is going to end up as a Socialist country, with all of our citizenry employed in service professions. :shakehead Meanwhile, companies are looking for that 30, 60. and 90-day money, rather than looking at 10, 20, and 30-year money.

 

[H2Andy]

If the trend keeps on going, America is going to end up as a Socialist country

and Comrade Diver will be there to show us the glorious socialist way of the diver!

http://scubaboard.com/showthread.php?t=175639&highlight=comrade

 

[RocketMan]

Well, I hope Exxon's profit is even better next quarter.

 

[merxlin]

Anyone want to examine WHY Exxon-Mobile had such "huge" profits? Is it, perhaps, because they are the largest (or one of the largest) company in the world (as far as revenue is concerned)?

What level of profit would those who think M-E is "greedy" would be OK? 10% of Revenue? 5% of Revenue? 1% of Revenue? 25% of Revenue? What?

Is it the total amount of profit that is "bad" or just the profit as a percentage of revenue?

For the record, what do you think E-M's profitibility was as a percentage of revenue?

a. 50%

b. 25%

c. 10%

d. 5%

Answer:

For the year, E-M had a total revenue of:

$371 billion -- with earnings of $36.1 billion, that means E-M got a profit of just under 10 cents for every dollar of revenue -- that means it earned just under 10% profit.

Is that really "greedy?"

I have no problem with the company making a profit. What i do have a problem with is them making it based on inflated costs and BS about supply and demand. When gas is almost $4 a gallon, and the oil companies are posting those kinds of profits, it does make you think that maybe, just maybe, we got gouged a bit at the pump, doesn't it?

BTW, many small and medium businesses can't make a 10% net, most can't make 5%. Ask any company that sells Wal-Mart how their margins are, and how quickly and completely they get paid.

 

[Fish_Whisperer]

and Comrade Diver will be there to show us the glorious socialist way of the diver!

http://scubaboard.com/showthread.php?t=175639&highlight=comrade

You know, Merxlin has a point, though. Lately, gas prices have been lower, but yeah... The American consumer has got to be feeling like they didn't even get a kiss after the kind of screwing we've taken at the pump.

 

[OHGoDive]

I have no problem with the company making a profit.

Apparently, you do.

What i do have a problem with is them making it based on inflated costs and BS about supply and demand.

What inflated costs are those? Moving crude oil through war zones? Exploring in ever more remote, hostile, and inaccessible spots? Dealing with irrational despots and governments pushing nationalization of resources? Costs associated with weather related disasters?

And, I'm pretty sure that supply and demand isn't a BS concept.

When gas is almost $4 a gallon, and the oil companies are posting those kinds of profits, it does make you think that maybe, just maybe, we got gouged a bit at the pump, doesn't it?

Many companies make a lot more profit than this, as a percentage of revenue, and the prices for a lot of the goods they manufacture or services they sell have increased more than the price of gasoline over the past 10 years. Are they gouging us too?

When the oil companies were losing money, were you bemoaning the fact that they couldn't make a profit and how terrible it was for them and their shareholders? Perhaps offering to pay a bit more at the pump so that they could break even? Doubtful. But now that they're in the black (for the time being), you want them to hold prices down because you need what they're selling. Hmmmm.

 

[letterboy]

You know, Merxlin has a point, though. Lately, gas prices have been lower, but yeah... The American consumer has got to be feeling like they didn't even get a kiss after the kind of screwing we've taken at the pump.

OH never mind I was going to make a post that contained sexual innuendos. . .

 

[mrjimboalaska]

I have no problem with the company making a profit. What i do have a problem with is them making it based on inflated costs and BS about supply and demand. When gas is almost $4 a gallon, and the oil companies are posting those kinds of profits, it does make you think that maybe, just maybe, we got gouged a bit at the pump, doesn't it?

BTW, many small and medium businesses can't make a 10% net, most can't make 5%. Ask any company that sells Wal-Mart how their margins are, and how quickly and completely they get paid.

Bet you don't ***** about the starbucks markup on a coffee bean eh?

about that .99 big gulp, only a 92% profit margin there.......

I love how my portfolio has recovered since March of 2000, but I will re-eval come Nov. 08,

You could always move to Germany and pay a $7.00 a gallon TAX.......

 

[mrjimboalaska]

Bingo. American money going into American companies. Isn't that a nice change from every other sector, where we've basically sold our nation down the river by selling off our manufacturing base. If the trend keeps on going, America is going to end up as a Socialist country, with all of our citizenry employed in service professions. :shakehead Meanwhile, companies are looking for that 30, 60. and 90-day money, rather than looking at 10, 20, and 30-year money.

Fish Whisperer,
You get it! awesome!
We are in for scarey times ahead if we don't change the course we going.............

 

[Fish_Whisperer]

Right on, Jimbo. I'm the president of a corporation that supplies to the manufacturing industry. Everything is going to China, Canada, Mexico, and Singapore. It's sad and scary... (Don't get me started on the automotive industry, unions, a lack of standardization, and the completely craptacular program of "ISO 9000.") :shakehead