That tears it!

[Two Bit]

CNN headline today
EXXON SHATTERS PROFIT RECORDS - $1300 a SECOND!


I will never buy another drop of fuel from Exxon. I'll take my business where they only make $900 a second

[Two Bit]

CNN headline today
EXXON SHATTERS PROFIT RECORDS - $1300 a SECOND!


I will never buy another drop of fuel from Exxon. I'll take my business where they only make $900 a second

[bjbkkb]

Yeah, ironic that the economy is in the dumps and the Fed is cutting rates like crazy to stimulate it but the oil companies are making record profits. Gee, a Texas oilman in the white house, a Wyoming oilman as his #2. Never saw that one coming

[Jestme13]

Look out guys, this sounds political, and the Boss may censor it for it's content.

[bjbkkb]

Nope, not political, just an observation.

[Hillbilly2]

The stockholders of Exxon are getting rich, wait a minute, does your retirement fund have stocks in it?

[RustyJC]

2007 Revenue - $404.5B
2007 Profit - $40.6B
2007 Profit as % of Revenue - 10.0%

2006 Revenue - $377.6B
2006 Profit - $39.5B
2006 Profit as % of Revenue - 10.5%

Actually, ExxonMobil experienced margin erosion in 2007, and 10.0% profit margin is surpassed by any number of other industry segments. For instance, our company earned $500.9M in 2007 on revenues of $4.666B, or 10.74%

Rusty

[doc]

Thanks Rusty,
I was trying to figure out how to word that. There is a lot of difference in profit and profit margin.
How upset would folks be if they owned Exxon Mobile stock?

[NLOVNIT]

<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by Hillbilly2:
The stockholders of Exxon are getting rich... </div></BLOCKQUOTE>

I beg to differ. Believe me, Exxon's profits don't trickle down far enough to make me rich. I only wish.

L-

[RustyJC]

<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by NLOVNIT:
<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by Hillbilly2:
The stockholders of Exxon are getting rich... </div></BLOCKQUOTE>

I beg to differ. Believe me, Exxon's profits don't trickle down far enough to make me rich. I only wish.

L- </div></BLOCKQUOTE>
Yes, Wall Street isn't overly impressed. ExxonMobil closed today about $10/share off its 52-week high.

Rusty

[Hillbilly2]

So all that money just evaporates, huh.

[Ice-Man]

British Petroleum just announced profits of £13 Billion!!!!

Mostly generated from crued oil. Fuel here in England cost 0.32p but with British Tax we pay £1.02 per ltr Not sure who actually makes the most profit there

[Tom N]

<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by Ice-Man:
British Petroleum just announced profits of £13 Billion!!!!

Mostly generated from crued oil. Fuel here in England cost 0.32p but with British Tax we pay £1.02 per ltr Not sure who actually makes the most profit there </div></BLOCKQUOTE>

What were their sales??

[RustyJC]

<BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by Hillbilly2:
So all that money just evaporates, huh. </div></BLOCKQUOTE>
No, aside from dividends, much of it gets plowed back into exploration, production, transportation, refining and distribution facilities - unfortunately, due to our environmental laws and NIMBY (not in MY back yard!!), the new refineries are overseas.

For example, BP's Thunder Horse platform shown below cost over $1 billion and was damaged in 2005 by a Gulf of Mexico hurricane before it produced its first barrel of oil.



Rusty