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Exxon Mobil Corp. (XOM), the world's largest publicly traded oil company, on Monday reported a quarterly profit of $10.7 billion, capping a year of record earnings dominated by surging oil and gas prices.

Pricks! LOL

Mad I don't own stock, LOL

Supply and Demand Baby!
 

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makes you wonder how much the government's making off the price of gas right now. next time i fill up i'll have to look and see if they still list the applicable taxes for a gallon of gas. when i was in high school (10 years ago) it was something like 35 cents a gallon. can only imagine what it is now. so not only are the oil companies bending us over, but the gov't might be too.

maybe bush should pull the troops out of iraq and send them to the board rooms of the major oil companies?


Gettin' Ugly
Glendon
 

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I think that was based on 100 billion dollars in annual sales...so that works out be around 10 percent profit....I would say that is pretty much a normal profit for most business....
 

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RE: supply and demand!

The price we pay at the pump hurts. But as long as they use the profit to build new refineries and new sources of oil, then the price will stabilize and come down.
The enviros need to ask themselves, What would the price of gas be if they allowed one new refinery to be built or more than one? California has not had a new refinery built in many many years.
Its the same situation in the electrcity market. There are too many restrictions placed by do-gooder enviros.
I know this will trigger a response.
Bring it.
 

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Yeah, last night on CNN they said that exxon/mobile had PROFITS not sales but PROFITS of 36.13 BILLION dollars last yr. They said it was around $1,145 of profit per second. But gas is still going up and it is because of "shortages and demand".


Dave Abeelen
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Think about the path a barrel of oil has to take before it goes into your car or boat. Starting with the exploration to find a well that pumps varying grades of crude from the ground, thransprotation, refinement, packaing, marketing transportation..... you get the picture. Three bucks a gallon doesn't seem that bad. Now think about what a gallon of bottled water or Starbucks coffee cost.

Got your message Jimbo. Will call you tomorrow.

CHRIS
A/K/A Private Boat "Fin-Addict"
 

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This is because we (america) are addicted to oil. This is per George Bush. I'm not addicted to oil. It's been years since i shot some in my arm or smoked it. I can say with out a doubt that george is addicted to oil. What an insane statement for the leader of this free country to say. This goes along with all the lies and lack of substense statement he said in his dog and pony show the other night.
 

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10-12% Profit is not the norm in the publically traded business world, and record profits for an Energy company would be much higher than that! I agree with Badger....another Bush hater.....Yawn....
 

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Calling me a bush hater is harsh and not true, I love the bush.. I don't hate George, I hate what he's been doing. Do you like what he's been doing about the fuel prices among other things? I don't understand how prices can go up and down so often. Can someone tell me why this happens? I know I need oil, I have three cars, two daughter. a wife and a boat I like to get out on a couple of times a month. I'll deal with the prices because I have no choice.
 

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The reason for high gas prices is simply supply and demand in this country, not the cost of barrel of crude oil, be it purchased from Saudi Arabia or elsewhere.

This country has not built any new plants (at least any that provided a significant increase to our ability to increase production of refined oil products) since the mid to late 1990s.

It doesn't take a lot to realize that if we have to divert millions of barrels of our refined oil products, such as gasoline and diesel fuel, to fight a war, less of the product will find its way to the American consumer.

So in the land which has proven that capitalism and open markets are much better at regulating than any government, it should come as no surprise that we will have to pay more per gallon of fuel until such time as the plants that refine the crude oil in the United States catch up with the deficit.

Too many US citizens have the idea that they are entitled to a free lunch. Whenever a resource is used for one thing, it means there will be less available for whoever else might want to use this resource. Hey, it's the American way, and it works.
 

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For the most part WIDEOPEN you makes a lot of sense.

What about all the oil in this country? I don't believe the supply and demand.

Why in the past few years has it gone up almost 50%.

I'm sure the government's not refining oil in the US and shipping it to the middle east.

With all the profits why have no new refineries been built?

Your right about the free lunch. We need to close the resturant.
 

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ad·dic·tion (-dkshn)
n.

Habitual psychological and physiological dependence on a substance or practice beyond one's voluntary control

Lack of SUBSTANCE? Seems like a very true statement to me. What is it that GW is doing, in your opinion, which effects oil prices?
CHRIS
A/K/A Private Boat "Fin-Addict"
 

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THE PROBLEM IS Too many US senators and politicians have the idea that they are entitled to a free lunch. The people have been hosed at the pumps. Supply and demand in southern california is only a very small part of the problem in southern california. IT gives them an excuse to use when exploiting the market which they are always trying to do anyway. There is an oversupply if anything. IF there was any REAL accountability in american capitalism things might be very different. Theres really no reason for oil to be over $25 a barrel nor is there any reason political or otherwise for us to still be in Irag except to keep the price of OIL high as they can sustain it,insure a puppet government in Irag, put pressure on IRAN and intimidate traders in the middle east. I'm sure there are a few more reasons that you might add with less importance like special pacts with Saudi Arabia ect.
 

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I normally do not comment on polotics, but if find it facinating that we are sitting on our own "Iran" right here in the states. It's called the Channel Islands. Hmm. I wonder how fast oil rigs would fly up out there again if the national parks were deemed a "Governmentally sanctioned" region..And if it were that, what would happen if the president declared a "National Energy Crisis"...

Anyone else see this coming or have I been pouring too much lead??

Well, I gotta get back to installing my 2 1000gal reciever tanks for Vegetable oil refining..with Having it cost me .45c per gallon, I might be able to see profit this year! I'll tell you what, any I have to spare, come and get it for $2.05 per gallon...lol



Capt.Flattymatty
"PREVAILER"

"to fish or not to fish..now that's a dumb question!"
 

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I will say I think crude pricing is perhaps as complex a subject as one could want to tackle (and I make a living trying to guess my way through this kind of stuff). I will also say that I think that there has been a "phase shift" in crude pricing such that you will NOT see crude below $30 again in your lifetime and the likelihood of seeing sub-$40 crude during your lifetime is extremely low. The factors driving my view are too extensive to possibly address here and they dovetail with the whole complexity I cited above. Forecasting crude pricing is perhaps, along with long-term interest rates, the most multi-variabled task one could ever concieve.
 

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What are the historical, political and economic facts?

How about informing your opinions with a little oil history and facts. It doesn't take long:

http://www.geology.ucdavis.edu/~cowen/~GEL115/115CH13oil.html

Fish the Tides - Freddie
 
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