Exxon posts record breaking profits.

That's what gas costs. Its no different anywhere in the world.

Your views are so American-centric, you can't seem to imagine a world outside the US at all.

US oil corporations do not decide the oil price. The US president does not decide the oil price. The oil price is set by supply and demand on international commodity exchanges, OK? You are barking up the wrong tree.

 

Cost of manufacturing product < price product is sold at = profit

If Exxon is making a profit, then they are selling their refined gas at a higher price than it costs to refine the gas. Economics 101.

No, gas prices are NOT the same in other countries. Gas prices depend on how much the gas is taxed; therefore, countries w/ higher gas tax have higher gas prices.

What can we learn about Exxon? They are ranked 6th of the 100 most toxic corporations. Exxon funds anti-climate change groups- know anyone on this list? Global Climate Coalition the Competitive Enterprise Institute, George C. Marshall Institute, Heartland Institute, Congress on Racial Equality, TechCentralStation.com, and International Policy Network., to name a few. In the human rights department,"in June 2001 a lawsuit against ExxonMobil was filed in the Federal District Court of the District of Columbia under the Alien Tort Claims Act. The suit alleges that the ExxonMobil knowingly assisted human rights violations, including torture, murder and rape, by employing and providing material support to Indonesian military forces, who committed the alleged offenses during civil unrest in Aceh."

This is all found on wikipedia: http://en.wikipedia.org/wiki/ExxonMobil#Foreign_business_practices

Peace and love

 

While the oil price may be set at a certain level by virtue of global supply and demand that alone does not take into account the processing, refining of oil into the final product which is gasoline sold locally.

Therein is an area where more oversight is clearly needed.
The price of the final product gasoline may be artificially inflated by reducing refinery capacity or other forms of price manipulations or price gouging practices.

There is a big difference between the price of oil and price of gasoline.
I can't believe you're THAT stupid.

 

In 2005 BP recorded profits of 50% "15.3 bn" when revenues were only up 22 %.

 

I know the difference between oil prices and gas prices. We aren't talking about relative levels of taxation, we are talking about oil company profits. If you can show me that oil companies in the US make outrageous profit margins compared oil companies elsewhere or to other industries in the US, you'd have a point. But you chaven't done that, all you've done is say that gas is too expensive without anything to back it up.

 

Go back to the original post,

Exxon Mobil Corp. posted the largest annual profit by a U.S. company -- $40.6 billion -- on Friday as the world's biggest publicly traded oil company benefited from historic crude prices at the end of the year.




Why do you insist in comparing Exxon to other oil companies. Why should it matter? The thread is focused on this company Exxon alone.
Obviously, they all made profits, but Exxon stands out for having profitted the most, which is a reasonable cause for scrunity.

What you should instead show me, is how much money Exxon has invested to help the motorist, such as increasing it's investment on oil exploration, building more refineries, etc.

Instead, Exxon has been using it's cash surplus by buying back it's own stock, thereby, increasing it's value.

Sorry Stev but I had to edit the personal attacks out of your post. You made some good points and that is what saved the entire thing from being deleted. Please refrain from the name calling.
-Fed Up

 

Hmmm, Exxon's Capital and Exploration Expenditures for 2007
20.8 billion USD.

excerpt.

http://www.guardian.co.uk/business/2008/jan/28/royaldutchshell.oil

 

Learn the difference between profit margin and profit, and then get back to me. Like most anti-corporate whiners you haven't got a clue how business works.

To work, yes.

I've never owned a car. I rent them sometimes.

 

I think what Pepik is trying to say is that there is nothing "sinister" about a companys profit going up if the profit margin does not change. The profit is simply a result of increased sales.


Let's say that you are going into the candybar business. You buy your chocolate bars at $1.70 and decide you are going to sell them at $2.95, your margin is 40%. Your profit is $1.18.

If I buy that candybar from you for $2.95, you profit $1.18. If I buy two candybars from you, your profit is $2.36. Double. That does not mean you were gouging, I just purchased more from you. Your margin never changed.

Now let's say that your cost went up. You are now paying $2.07 per chocolate bar. To maintain your 40% margin, you now have to increase your selling price to $3.45.

Exxon has a gross margin of about 9.8%. It is the increase in crude oil prices and the growing thirst for oil that has resulted in these record profits.

Excuse me if I am wrong for assuming what Pepik was trying to say.

 

In 2004, Exxon Mobil earned more money -- $25.33 billion -- than any other company on the Fortune 500 list of largest corporations. But by another measure of profitability, gross profit margin, it ranked No. 127.

 

That's what I was trying to say, yes. Another way of putting it: Exxon made $40bn. If you split Exxon into 10 companies, each would make $4bn, and their profits would no longer be record breaking. But you wouldn't save a cent at the pump.

Profits only tell you how big a company is, profitability is what matters.

 

While Exxon's Capital and Exploration Expenditures for
year 2007 was $20.8 billion,
Exxon's Capital Exploration Expenditures for year 2006 was $19.9 billion.


Wow! Big fucking change.

And how much of that actually materialized into more refineries or new drilling that benefit the American consumer/motorist?

Practically nada.
Why?

Because Exxon thinks it is preferable to use their surplus cash to buy rivals and manipulate the electronic markets, rather than to actually drill for oil.

In other words, for Exxon it is easier to drill for oil on Wall Street.


Sorry FedUp,
but it's just too hilarious to think that there are many here amongts us in this forum who, inspite of being screwed, manipulated, fucked dry, inside and out by corporate crooks like Exxon, that inspite of protesting the injustices, these suckers
just beg for more.



----------------------------------
source



Exxon Mobil Corporation Announces Estimated Record 2007
Results
Friday February 1, 9:12 am ET


IRVING, Texas--(BUSINESS WIRE)--Exxon
Mobil Corporation (NYSE:XOM - News):




Capital and Exploration
Expenditures
in - $ millions

2007 2006​

20,853 19,855 ​

 

Still, more companies = more competition = lower margins. In general. The highstartup costs of oil companies might leave it fairly oligopic anyway.

 

And why would Exxon bother to do something like that?

Exxon has the blessings of Bush and the Neo-Con enablers like you, to make Exxon both profitable and post record profits.

 

I get this strange feeling that you are just making shit up as you go along and actually haven't got the faintest clue what Exxon is investing in.

That's a conclusion in need of an argument. Got one?

 

http://www.ehow.com/how_15317_calculate-gross-profit.html

http://www.ehow.com/video_2103697_determine-profit-margin.html

Use these links to figure out the difference between profit and profit margin and then this following link to figure out how these differences relate to the topic. It also touches on how the government, through gasoline tax, actually makes more "profit" on gasoline than the gasoline companies do. Hey! Another reason to hate the government!! Woo hoo!!!

http://www.businessandmedia.org/news/2005/news20051102.asp

 

Okay, I just realized that before my understanding of the word profit gets questioned, I should explain what I meant using it in that context.


In the past 30 years, the government has collected more revenue than the largest U.S. oil companies have collectively earned in domestic profits.

Here is a link to the study.
http://www.taxfoundation.org/publications/show/1139.html

The analysis used only government revenue from gasoline taxes. It didn’t even include corporate taxes on the companies’ income. From 1977 to 2004, federal and state gas tax collections have totaled more than $1.34 trillion, the report said – more than twice domestic oil industry profits during that time ($643 billion).

 

So are you saying Exxon is getting out of the oil business ?
because they will be the first day they quit drilling.

You dont make it to #1 with grab the $ and run.

 

I don't think Exxon is getting out of the oil business. There's just too much money being made and they have a free rein.

Inspite of Exxon's record profit of $ 40.6 billion dollars, Bush's Republican Neo-Con clique considers Exxon as "paupers" on welfare. :jester:

Exxon and the other major oil companies currently receive an estimated $32 billion five-year total of government subsidies.

If Exxon posted a record $40.6 billion in profit and have more money than God, then why the fuck does the government still give them fucking tax-subsidies???

This is just fucking insane!!!

Corporate Welfare

http://64.233.169.104/search?q=cache:lPyhFNT3fVoJ:www.ourfuture.org/corporate-welfare+Exxon+tax+subsidies&hl=en&ct=clnk&cd=9&gl=us




Bush and the Republican Neo-Con idea of "trickle-down economics"

The money trickles down alright to the corporate fat cats and their lobbyists, while the average Joe Schmoe gets shafted. Again.

 

Hi FedUp,

I agree with you.
Not only does Pepik have NO CLUE about business.

He like others in this forum who defend Exxon can't even figure out how corporate crooks screw, cheat, deceive them and manipulate the system.

In other words, they just bends over. :jester: