Last Quart Exxon/Mobil made the largest profit of anyone in the history of Capitalism

aaharvel

For every minute Exxon/Mobil earned $75,000 dollars.

2004 Profit was over $25 BILLION dollars.

2004 Revenue was over $298 BILLION dollars.

Lee Raymond, the CEO of Exxon/Mobil earned a compensation package of $38,000,000 million dollars.

WOWZERS! Can you guys believe that?!? :eek:

http://www.forbes.com/facesinthenews/2005/04/13/0413autofacescan10.html

BIZILL

that's alot of dinero! 38 million million dollars! :rolleyes:

aaharvel

I wish I was in the oil business. That's incredible. I would just retire after 1year. Seriously. There's no point to work anymore unless you want to either own everything like Trump or attempt to break Gates' Record (which won't happen)

BIZILL

bill gates is the greatest!

jdhdiggs

aaharvel wrote:

2004 Profit was over $25 BILLION dollars.

2004 Revenue was over $298 BILLION dollars.

Lee Raymond, the CEO of Exxon/Mobil earned a compensation package of $38,000,000 million dollars.

Hmm, less than 10% profit margin and the CEO making 0.0128% of companies revenue. I don't see much problem with that. With the inventory based income, it would have been impossible for the oil companies to have lost money over the past year/past quarter.

The scale is admittedly huge, but when you look at %'s (and compare them to other companies), oil companies are not as evil as everyone thinks. Look at the numbers posted, they had to spend $273 BILLION just to get it to their final sale. Besides, Exxon only owns 7% of the "Exxon" labelled stations, they aren't the ones reaming you down the road.

jdhdiggs

Oh, as for the oil and gas business, get a degree in PE, RE, or GP and I'll garauntee you'll be making $150K+ within 5 years.

aaharvel

jdhdiggs wrote:

Hmm, less than 10% profit margin and the CEO making 0.0128% of companies revenue. I don't see much problem with that.

I never said there WAS a problem with that. (edit) at least it hasn't been proven that there is a problem. Yet. but imo there could POTENTIALLY be a problem considering supply and demand have remained absolutely static from a year ago until last month. Yet the Prices have risen over a dollar, which equates to around 35%. Now since there are hearings on Capital Hill regarding this issue, in the last month gas prices have sunk over 50cents a gallon, yet again~ supply and demand have not radically changed within the past month. Certainly not enough imo to equate that with the change in prices. The reason i'm making such a big deal about supply and demand is because the CEO's of these oil companies base their prices and their explanations of the prices on supply and demand. That's a fact. However, the numbers just don't back their claims up. At least I don't think they do.

Maybe I could be wrong because i'm only thinking about US supply and demand, and not worldwide supply and demand, I'm not sure. Anybody else want to chime in? This certainly affects us all.

btw, Yahoo's CEO Terry Semel made 230million dollars last year. :eek:

jdhdiggs

Glad to know you aren't one of the ones bashing a company for making "the largest profit in history" when their % profit is below most industries

What the oil companies are getting nailed on is that they need to sell current oil at $60/barrel to buy the next one at $60, even though they bought it for $40. What this has done is temporarily boosted the profits for these companies as now all oil in the pipeline is valued at the $40+$20 mark artificially raising profits. The oil companies are also behind the current pushdown of gas prices as a PR manuver, not because of S&D. The hurricanes did hose the companies and raised the prices for their raw goods, they passed it on to the consumer and in doing so drove up their revenue and profit (Mostly from inventory valuation gains). Yet people are mad for price gouging since they made money (at less than 10% ROR even)

aaharvel

yup that makes sense. the hurricanes certainly were a factor and one of the major lines down in the south was shut down for awhile. I also think the recent decrease was for PR. It'll be interesting to see how this evolves.

ND13

I came into work yesterday and gas was $1.98 and within an hour it was $2.29. :rolleyes: