View Full Version : 10.7 freaking billion dollars.
crawfish
1/30/2006, 01:48 PM
Record profits by Exxon last quarter. They have taken out a full-page ad in all major newspapers, it seems to explain why that ain't so bad.
It's the biggest bunch of B.S. I've ever read. :mad:
picasso
1/30/2006, 01:49 PM
somebody else should start making them oils and gasses.
LilSooner
1/30/2006, 01:50 PM
Why don't they use some of those profits to lower gas prices now? Lower gas prices=great PR Oh that's right because they are smarmy bastards.
Widescreen
1/30/2006, 01:50 PM
As a consumer, I hate paying the current gas prices. However, that $10 billion is our money that we chose to give them. They're a for-profit business, not a charity. That said, I sure hope prices come back down soon.
1stTimeCaller
1/30/2006, 01:51 PM
I think they should hire GM's execs to help turn their business around.
Has abyone had to do without something due to the gasoline prices?
If yes, what was it that you had to do without?
TheHumanAlphabet
1/30/2006, 01:53 PM
Record profits by Exxon last quarter. They have taken out a full-page ad in all major newspapers, it seems to explain why that ain't so bad.
It's the biggest bunch of B.S. I've ever read. :mad:
Why? They put out big bucks this year alone (16B for research and exploration). XOM return on profit is only about 12-15%. Not a record or excessive amount...
picasso
1/30/2006, 01:54 PM
Has abbynormal had to do without something due to the gasoline prices?
If yes, what was it that you had to do without?
cruising Sonic and local high schools.
I think most people's problem is how they move prices up and down on a whim and all we can do is sit here and take it.
"Oil prices shot up today on fears that the recent 1/2" of rain in OKC will muddy up the oil field roads, slowing production."
They just haven't hit the "we're not gonna take it anymore" price. Not sure what that price is, but they haven't hit it. We'll buy gas when we need it regardless. We'll gripe, but we'll pay it.
TheHumanAlphabet
1/30/2006, 01:59 PM
As a consumer, I hate paying the current gas prices. However, that $10 billion is our money that we chose to give them. They're a for-profit business, not a charity. That said, I sure hope prices come back down soon.
You can thank the commodity brokers in New York for speculating on the price of oil at the drop of a hat (or bullet, or rain...) and China and India for using more oil and to the NIMBYs who don't want refineries built in the U.S. and made it impossible for a new one to be built in the U.S. since before 1972...
Stoop Dawg
1/30/2006, 02:00 PM
As a consumer, I hate paying the current gas prices. However, that $10 billion is our money that we chose to give them. They're a for-profit business, not a charity. That said, I sure hope prices come back down soon.
I agree, but I wonder at what point the DoJ starts looking at anti-trust? I'm totally clueless about the oil industry, but with all of the mergers over the last decade or so I have to wonder if it's getting rather monopolistic. Maybe I'm way off.
OUstudent4life
1/30/2006, 02:02 PM
I think most people's problem is how they move prices up and down on a whim and all we can do is sit here and take it.
"Oil prices shot up today on fears that the recent 1/2" of rain in OKC will muddy up the oil field roads, slowing production."
They just haven't hit the "we're not gonna take it anymore" price. Not sure what that price is, but they haven't hit it. We'll buy gas when we need it regardless. We'll gripe, but we'll pay it.
$3-4/gallon.
I can't remember the study, but that was the result. ~$3.50/gallon will cause Americans to change their driving habits.
I think that's also what car companies are waiting for before they start really rolling out the hybrids.
Which is sad, since a hybrid that gets twice your current gas mileage would only bring the cost per mile down to what it is right now...around $2/gallon.
IronSooner
1/30/2006, 02:12 PM
$3-4/gallon.
I can't remember the study, but that was the result. ~$3.50/gallon will cause Americans to change their driving habits.
I think that's also what car companies are waiting for before they start really rolling out the hybrids.
Which is sad, since a hybrid that gets twice your current gas mileage would only bring the cost per mile down to what it is right now...around $2/gallon.
Yeah I think you're dead-on there. People start to bitch around $3 but still pay. Closer to $4 I think you start to see some carpooling and such.
American carmakers have definitely been behind the curve on hybrids. Notice all the SUV rollouts the past few years while the Japanese were working on hybrids. I'm curious to see how they do in catching up since it looks like it's going to be a permanent issue from now on.
I have no problem with it. Just wish I'd bought their stock. No one had a problem with the oil companies when oil was $20 a barrel and they weren't making the dough.
Sooner_Bob
1/30/2006, 02:18 PM
Higher car prices don't seem to be making much of a difference in people's driving habits either.
Here's hoping they all get syphilis.
1stTimeCaller
1/30/2006, 02:35 PM
Here's hoping they all get syphilis.
is Exxon relocating to Tulsa?:confused:
:D
Tear Down This Wall
1/30/2006, 02:39 PM
I
http://www.schools.pinellas.k12.fl.us/gallery/variety/Heart.gif
http://www.11th-hour.info/images/exxon.jpg
http://www.oneshare.com/images/214_stock/214_xom.jpg
IB4OU2
1/30/2006, 02:41 PM
Should I sell my BP stock now or wait?
*ducks*
sooneron
1/30/2006, 02:43 PM
They are a large corporation , they aren't here to win a warm and fuzzy popularity contest.
Tear Down This Wall
1/30/2006, 02:48 PM
Exxon gave my grandfather, a retired chemist, a very nice retirement. Thank you, Exxon, for taking care of my Paw Paw! :D
Everyone else can pretty much stick it.
P.S. - Keep your BP stock. It's good stuff.
shoot, the $2.30 or so that we are averaging up here right now has changed my driving habits. if it were warmer, you can be damned sure I'd be walking to work.
OklahomaTuba
1/30/2006, 03:10 PM
As much as people bitch about the the profit they make, the margin sure isn't anything to be crazy about.
For instance, 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.
I doubt it is much higher than 50 these days.
I always heard they don't make much money on gas, they just use that to get you in their stores. Where they rape you is on the salted snacks.
Thank you, come again.
http://www.leestreet.com/images/apu.gif
OklahomaTuba
1/30/2006, 03:17 PM
I believe credit card companies are among the best companies with regards to profit margin. CITI had like 25% profit margin last quarter or something like that?
the energy companies just have such high overhead for reinvestment in technology and exploration and production.
But ya know, anytime now we shall see some wacked out lib trying to impose even MORE taxes on the oil industry and more regulations drivng the prices on oil and gas up even further, just so they look like they are fighting "big oil".
IB4OU2
1/30/2006, 03:17 PM
I always heard they don't make much money on gas, they just use that to get you in their stores. Where they rape you is on the salted snacks.
Pat, How come you won't stay away from that isle?............
skycat
1/30/2006, 03:54 PM
Pat, How come you won't stay away from that isle?............
Is there a pedantic spelling/grammar smack thread for today? ;)
SoonerInKCMO
1/30/2006, 04:02 PM
Hmmm... maybe I'll log into my 401(k) account and move some money to the energy sector.
Hmmm... maybe I'll log into my 401(k) account and move some money to the energy sector.
as soon as you do, oil prices will plummet.
so by all means, please do so.
StoopTroup
1/30/2006, 04:19 PM
As a consumer, I hate paying the current gas prices. However, that $10 billion is our money that we chose to give them. They're a for-profit business, not a charity. That said, I sure hope prices come back down soon.
Sell out. ;)
Hate them with us.
Here hold this torch. :D
Dance the dance of the Barron Haters.
http://www.abc.net.au/science/slab/torch/img/torch_at_40kmh_sml.jpg
crawfish
1/30/2006, 04:24 PM
I believe credit card companies are among the best companies with regards to profit margin. CITI had like 25% profit margin last quarter or something like that?
the energy companies just have such high overhead for reinvestment in technology and exploration and production.
But ya know, anytime now we shall see some wacked out lib trying to impose even MORE taxes on the oil industry and more regulations drivng the prices on oil and gas up even further, just so they look like they are fighting "big oil".
To be totally honest, I hate freaking credit card companies even more. ;)
StoopTroup
1/30/2006, 04:26 PM
I hope Picasso isn't using oils in his paintings.
soonernation
1/30/2006, 04:34 PM
I think most people's problem is how they move prices up and down on a whim and all we can do is sit here and take it.
"Oil prices shot up today on fears that the recent 1/2" of rain in OKC will muddy up the oil field roads, slowing production."
They just haven't hit the "we're not gonna take it anymore" price. Not sure what that price is, but they haven't hit it. We'll buy gas when we need it regardless. We'll gripe, but we'll pay it.
Hey Junior!!! OIL IS A TRADED COMMODITY!!!! The oil companies have nothing to do with setting the price of oil. I bet you loved the oil companies when oil was 12 bucks a barrel and people were getting laid off left and right. The oil industry is the most up and down business in the world. Don't worry it WILL go down eventually.
Petro-Sooner
1/30/2006, 05:31 PM
Preach it Nation!!!!!!
OklahomaTuba
1/30/2006, 05:43 PM
Don't worry it WILL go down eventually.I believe the era of cheap oil is over, but maybe thats just me.
Tear Down This Wall
1/30/2006, 06:12 PM
Here's some other investment ideas, although you can't hold me legally liable for them because I'm disclosing to you that I have no expertise in this area and am only giving you my opinion. Check it out for yourself like any other wise investor does.
First, the big banks are always buying out regionals. So...in my opinion...maybe if you bought stock in a regional bank...and it got bought by one of the big banks...well, just maybe you'd make some cash money.
Second, this country is being overrun with Mexicans. Truck full of Mexicans. Mexicans shop at these special stores for their special food. Special companies makes these special foods.
I've heard that the big food companies sometimes buy smaller food companies if they're making lots of cash. So...in my opinion...you might strike up a conversation with your Mexican neighbor and get invited over to help cook dinner...check out company names on the boxes of the special Mexican food...that company might be bought someday by the bigger company because of the millions of Mexicans spending their hard-earned cash on it...and then you might makes some money, too, when the big company buys it.
Then, you might say...Hooray! Hooray! For a truck full of Mexicans, hooray!
Stoop Dawg
1/30/2006, 06:20 PM
I always heard they don't make much money on gas, they just use that to get you in their stores. Where they rape you is on the salted snacks.
True for the retail side. Not so sure for the refining, etc. Companies who buy their gas (as opposed to refining their own) like 7-Eleven generally earn a very meager profit on it. That's why they resisted pay-at-the-pump for so long, they want you in the store!
True for the retail side. Not so sure for the refining, etc. Companies who buy their gas (as opposed to refining their own) like 7-Eleven generally earn a very meager profit on it. That's why they resisted pay-at-the-pump for so long, they want you in the store!
I was just making a funny.
:O
ouflak
1/31/2006, 05:35 AM
They are a large corporation , they aren't here to win a warm and fuzzy popularity contest.
Then why are they taking out full page ads across the country to defend their record profits while their consumers are being squeezed more and more for every penny? If they aren't here to win a popularity contest, then do they feel some sort of inexplicable urge to defend themselves for something they are already justified (by you atleast) in doing? Afterall, like you said, they are a corporation. They exist to make as much money as possible at any lowest cost. So why the ads?
1stTimeCaller
1/31/2006, 10:17 AM
Is 11% profit really that much? I find 11% to be very reasonable.
If you buy a brand new home you will pay the builder anywhere from 25% to 40% in profit.
picasso
1/31/2006, 10:28 AM
I hope Picasso isn't using oils in his paintings.
I use egg tempera so when the price of chickens goes up I'm going to be ****ed.
not really, I use acrylics, was just trying to be funny.
jthomasou78
1/31/2006, 12:00 PM
I dont know how much this effected there bottom line. But here in Pensacola when the Hurricanes would hit, the power would be out for about a week. Every time the power would go out people would but a crapload of gasoline for their generators. Gas would show up at the gas station and be gone a half an hour later.
Katrina is still causing people to run off of generators in some areas.
My guess is that the gasoline companies sold more gallons of gas this year then in past years.
If anyone cares generator companies also posted a record profit this year.
TheHumanAlphabet
1/31/2006, 02:00 PM
Here is a second look.
http://www.exxonmobil.com/Corporate/Files/Corporate/OpEd_secondlook.pdf
FaninAma
1/31/2006, 02:03 PM
Hmmm... maybe I'll log into my 401(k) account and move some money to the energy sector.
I did that about a year ago. I like the results.
Historically speaking the price of gas isn't much higher than it was in the 60's and it's lower than it was in the 70's when inflation is taken into account.
Powered by vBulletin® Version 4.2.1 Copyright © 2024 vBulletin Solutions, Inc. All rights reserved.