[PlaynHooky]

Exxon Mobil year net sets mark, but profit down for quarter - Jan. 30, 2009

 

[BLUEYZWAITN]

I saw that too, who said there was no price gouging going on, Maybe they can lend some money to Goverment so they can lend it to whom ever needs it next.. Makes me sick knowing we were paying almost $4dollars a gallon at one point... To bad there is no way to boycott the industry.... Maybe they can give of a free fillup as a Stimulus package....

Seems to me We Americans have payed for the Exxon Valdez for decades ....

 

[cyruss Dog]

I am fighting marina price gouging one 5 gal gas can at a time.

Earley Times

 

[Striperstan]

Two thoughts

A couple of quick thoughts:

1. Since EXXON is a publicly traded company, and most of us probably hold EXXON stock in our retirement (and other) accounts, some of those profits are coming to US, the shareholders.
2. What is their profit in terms of return on investment (not gross dollars)? Last time I researched, the oil companies were about the middle of the road for fortune 500 companies.

 

[Foy]

You speak the truth

A couple of quick thoughts:

1. Since EXXON is a publicly traded company, and most of us probably hold EXXON stock in our retirement (and other) accounts, some of those profits are coming to US, the shareholders.
2. What is their profit in terms of return on investment (not gross dollars)? Last time I researched, the oil companies were about the middle of the road for fortune 500 companies.

I am both a geologist with experience in the extractive industries and a CPA presently engaged in tax work and investment analysis. It is absolutely true that ExxonMobil's profits, while huge in gross dollars, are both reinvested in mammoth capital costs and exploration programs and also paid out to millions of shareholders as dividends. Those shareholders include pension plans, IRAs, and mutual funds, making a great many individual investors de facto ExxonMobil shareholders. It is also true that their profit margin, expressed as a % of their expenses for exploration, production, distribution, and overhead costs, are "middle of the road" and are actually lower, as a %, than many other industries margins.

I don't like $4 gasoline any more than the next guy, but I do honestly believe the oil companies aren't "getting fat" on a short-term spike in retail gasoline prices.

Foy

 

[c. hawkins]

exxon does not set the price of oil. The price is set by supply and demand. there are millions of people including state and municiple goverments that have exxon in thier pension plans and in mutual funds. I too hated the high prices this past summer but you can turn on the tv anb watch it being traded. I do think the prices charged at the marinas are out of line.

 

[goose70]

My irony meter just pegged.....the ones complaining about price "gouging" (not that they can even define that term) are typically the same ones yelling "drill baby drill." Do they think that all of this drilling and exploration is cheap and easy? It's also more than a little ironic that folks whose hobby wastes more petroleum than just about any other hobby gripe about prices. If you don't want to pay for it, then don't use so much.

 

[c. hawkins]

foy you posted while i was writing my reply and i agee if i am not mistaken their profit is around 8%.

 

[MeOff]

foy you posted while i was writing my reply and i agee if i am not mistaken their profit is around 8%.

My my heart goes out to the poor sob's.....only $4,160,000,000.00 in PROFIT

 

[Billy]

The government profits more from the taxes on gasoline than anyone else involved! Their percentage is the highest, including the oil companies....
We get raped no matter what, so just bend over and take it like a man. :eek2: :watchout6:

The whole "racket" pisses me off. Especially SPECULATION! Ooooo, there's a storm coming.......

 

[jmille8766]

Don't forget the government, in addition to excise taxes, gets royalty fees, lease fees, etc. if they are drilling on anything but private land. And they get the corporate income tax, too.

Just my two cents worth (because that is all I have left).

 

[kfrazierjr]

thats 45 billon gross profit minus taxes, which in money and percentage is higher than any other company in the world at a little over 44% which means that the state of alaska and the federal government took roughly 20 billon. Also, exxon spends roughly 10% of their profit for research and development oh yeah and renting parcels of underwater land that they cant even drill on. I own a courier service and drove 92,000 miles last year and will drive 104,000 this year.Oh yeah and my 23ft boat has a 1995 2 stroke mercury black max motor on it which isnt too great on fuel. I spend TONS of money on gas and oil every year and am not upset with exxon mobil at all. Last time I checked the whole point of capitalism is to turn a profit and in such a bad time for our economy I think its good to see a company doing good which means their employees and doing good and have job security. the govt and the media in this country are supposed work for us and clearly they dont. It really makes me sick to my stomach.

 

[hary kim]

If all these guys running these big insurance and banking industries done half as well as exxon, we as tax payers wouldn't have to borrow billions of dollars to bail them out now, do we??

Come on guys!