Exxon

audiobliss

Disclaimer: I just briefly saw a portion of this on the news on TV. I have done no research or studying on this topic, as the length of my post will betray.

I just saw on the news that Exxon profited more this 1/4 than ever before. In fact, they have made a larger profit this quarter than any company ever in the history of the US!! They made $100 billion this quarter! Doesn't that just kinda make you mad? Exxon taking advantage of the situation and profitting, when they could be making a 'regular' profit and passing on a cheaper price to us!!

:mad:

jdhdiggs

As a shareholder of this, and several other O&G companies, no, it doesn't. They are in the business to make money. Yeah, it does suck to be forced to pay what they think is right but medicine/healthcare follow the same path.

In fact, the US has done a very good job in keeping gas prices below what they should be. The only way to fight back is to change each indivisuals dependance.

PolkThug

I'm glad they had a good quarter, I have mutual funds which Exxon is a part of.

billbillw

The rich get richer, the poor get poorer. A trend that unfortunately continues in America.

HBombToo

Its this type of trash thats drives inflation which impacts us across the board. Its all a bunch of bull IMHO.

HBomb

LiquidSound

"The rich get richer, the poor get poorer. A trend that unfortunately continues in America."

In most cases, not all, but most, this trend is governed by personal choices. The rich continue doing things that make them rich while the poor continue doing things that make them poor.

Go Exxon..make that money guys.

Demiurge

The price of gas is reflected moreso by the lack of refineries, the multiple formulas, and the regulations than it is by the actual price of a barrel of oil. You also need to look at the scope of a company that size, it's more diverse than just selling oil. While they certainly are making a profit off their oil sales (the goal of any business) I don't think it's worth getting angry at them for. They don't set the price of gas as they aren't a monopoly.

billbillw

LiquidSound wrote:

"The rich get richer, the poor get poorer. A trend that unfortunately continues in America."

In most cases, not all, but most, this trend is governed by personal choices. The rich continue doing things that make them rich while the poor continue doing things that make them poor.

Go Exxon..make that money guys.

Maybe somewhat true, but for the most part I disagree, especially when it comes to middle class America. Its pretty well known that the average middle class American family is having a much harder time making ends meet compared to 20 years ago. Wages have not kept up with increases in housing, vehicles, and other costs of living. Over the last 4 years, wages have been frozen or reduced in many jobs around the country. The prices of new homes have risen to the point that many blue collar workers and public service workers (police/teachers/fire fighters/government workers) cannot qualify for mortgages on new homes without assistance or special programs.
The significant increase in energy costs over the last few years has just made things even harder for the middle class. Meanwhile, the energy companies are making record profits. Let me rephrase. The rich get richer, the middle class suffers.

mrmusicman

Extortion is not a friendly busniess practice.

Dennis Gardner

The rich get richer, the middle class suffers. This is a statement from the bottom of the pile.

Go to work for yourself instead of for a wage. Nearly all of those "jobs" you mentioned can be made into consulting or training businesses that could be done full or part time. If you are a teacher and want to get out of the trap, set up a tutoring business. If you don't want to work for the man as police and want to make more, do security consulting. If you don't want to starve as a firefighter, train firefighters in your own academy.

It is all about choice, but you've got to have the drive to succeed or your choice will be to be poor.

The gas companies have been through the cycles of taking losses, now we are in an upswing. If you don't like paying the price, they still make bicycles.

AsSiMiLaTeD

Good point DG, but someone is always going to have to fill that role as the school teacher or public police officer. Sure I can aspire to be more, and I do...but if I move up, someone's going to have to take my place, and they're going to be in that same boat.

I love the whole 'If you don't like paying for gas, then don't drive' argument. It's one of those things that work great in theory, but just isn't practical. If everyone were to take that approach, no one would go to work and our country would shut down...

I just quit buying the stuff inside the gas station. Sure, I'll give them my money for gas because I have no other choice, but I'm sure as hell not going to give them $2 for a coke and $6 for a car wash...

Thom

Exxon made record money when gas was $3.00 a gallon? That's a surprise...

Dennis Gardner

Polkmaniac wrote:

I just quit buying the stuff inside the gas station. Sure, I'll give them my money for gas because I have no other choice, but I'm sure as hell not going to give them $2 for a coke and $6 for a car wash...

That is exactly my point..... that the way we live still boils down to choices. You may not be richer for choosing not to buy the Coke and car wash, but it is definately a choice to not be poorer simply because gas is high. If gas gets too high, we as a society may make the choice to undo what we have created for ourselves during the "cheap fuel" era. We may choose to live closer to work or work closer to home. Theses aren't bad things, just an adjustment.

When they can't find teachers, police, or public workers to work for the wage, they will pay more since they won't have a choice. It just hasn't happened yet. If any of these jobs are your "calling" in life then you can't complain that you are poor, since it means more to you than money. Again, another choice.

We simply don't "have" to do anything, we just choose.

scottnbnj

big surprise. gov't profits more than uh,evil oil companies on every gallon.

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http://www.eia.doe.gov/pub/oil_gas/petroleum/analysis_publications/primer_on_gasoline_prices/html/petbro.html

http://www.lmoga.com/taxrates.htm

billbillw

DG,
The idea of going into your own business as a tutor or consultant is not really a feasible option for the majority of folks. Besides, if even 5% of the people working in those jobs left their positions to do consulting or whatever, there would be a huge glut of specialists and most would end up starving.

On your second point, governments will never have enough money to pay public service workers a competitive wage. Doing so would mean increasing taxes, which will never happen in the current political climate.

Dennis Gardner

billbillw wrote:

DG,
On your second point, governments will never have enough money to pay public service workers a competitive wage.

The point is that it is a competitive wage...... for the job. It pays what people will accept. It isn't competitive with say a Dr. or lawyer, but most municipalities and utilities pay what people will take. I have never seen any forman holding a gun to anyones head to go to work for that wage. It isn't a chain gang. If they don't like the wage, walk away. They can find higher if they look harder.

MacLeod

There is a big difference between gross profits and net profits. If Exxon is paying $2.50 a gallon and selling it for $3, theyll make more gross profits than if they were paying $1 and selling it for $1.50 but their net profit is the same. Trust me, Exxon doesnt like high gas prices anymore than we do cause when prices go up, demand goes down and SUV sales go down and hybrid sales go up. Exxon made no more money at $3/gallon than they do at $1.50/gallon.

The soup line view of the country still is beyond me. Unemployment is at an alltime low. Gross National Product is up, the economy is growing, thousands of jobs are being created every quarter, personal income is at an alltime high. The "soup liners" say working people cant afford houses yet new housing starts are at an alltime high. Wages are at an alltime high.

Are we in Utopia, no but the quality of life in this country right now is better than at anytime anywhere in history!

audiobliss

MacLeod wrote:

but the quality of life in this country right now is better than at anytime anywhere in history!

Depends on what you value the most.

janmike

Perhaps they should take some of those profits and properly clean up their mess.

Dennis Gardner

Bill,

After thinking over what I have posted, I will give you that all workers aren't totally in control over their wage ability...........I didn't consider the Unions! I work in the free market and don't have to cater to that part of it. I just hate to see people feel that their ability to compete and prosper is in the hands of big business or government.
I also do have real world experience with how increases due to regulation has effected all businesses ability to make $$ and thus slow down the trickle of those $$ to their employees.

I'm done with this, I think I will go fill my tank up. BTW, gas is only a little over $2/gal where I live right now.

audiobliss

Good prices around here are $2.499.

MacLeod

In one part of town theyre down to $2.22!

While delivering to a convenience store today one of the clerks mentioned it was supposed to be down below $2 within a week or so.....but what the hell does a convenience store clerk know?

billbillw

Gas in metro Atlanta is still around $2.50 for regular. Its amazing because before Katrina, Atlanta had among the lowest gas prices in the US. We have a fricking pipeline that goes right through here and the Governor suspended the sales tax through September, yet we still had higher gas prices than most other areas. Somebody was profitting.

F1nut

My .02, Fuxxon and all the other slime ball oil companies are bending each and everyone of you over and it seems that a lot of you like it. Fuxxon made a net profit of $10 billion, Shill made $9 billion. In fact, every oil company made huge profits this past quarter from HIGH gas prices, nothing else. It scares me that some of you think this is ok. I mean, you can't even tell when smoke is being blown up your arse!!! How effing stupid are you?

audiobliss

F1nut wrote:

It scares me that some of you think this is ok.

+1...

amulford

Everyone is entitled to an opinion. However, most of you are wrong. These HUGE profit margins are directly the result of the ridiculous pricing. The excuses for this pricing offered to the general public is sugar coated ****, and you guys are swallowing every effin spoonful.

The people who own stock? Sure they are happy, wait til it's time to collect the returns. Let's see how big the grin is when the tax man gets done with your cashout.

Does any one company set the price? No. Is there collusion among the consortium? Think about it...

Dennis Gardner

The increase in fuel/energy costs for my family this year is such a small portion of my living expenses that to even worry or get pissed off about what they are blowing up my **** is ridiculous. I have bigger fish to fry, and BTW I will use fuel to fry them.

Bottom line: We (USA) still have the cheapest energy costs on the planet, even with the increases. How can that piss me off?

audiobliss

Excuse me, but, 'drrr'. You don't compare things to what's around you, but to what they're supposed to be. If everyone's being honest and the prices are what they are, that's great. Even if other countries have lower energy costs. However, even if we have lower energy costs, when companies are unfairly and unjustly make huge profits off natural disasters, that's just wrong.

nadams

By the way, Dennis... going to work for yourself is great and all, but then the real fun of paying for health insurance for your family comes in. That, and other expenses, make it not so much fun.

MacLeod

Want cheaper gas? Drill for more oil and build more refineries.

If demand is increasing, increase supply. Works everytime its tried.

Are oil companies saints? No.
Are they the reason we havent built a new refinery in this country in nearly 30 years? No.
Are they the reason we cant get to the immense oil find in Alaska? No.

There is a larger problem here and it aint the oil companies.

scottnbnj

i don't see what's so out of line about evil oil's profit margins that get y'all so worked up. as i posted above, big gov't takes about 40 cents a gallon (about half federal and half state/local).

evil oil profit is a few percent. what do other non-evil companies and industries make?

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