Exxon Profit $10.7 BILLION this first quarter

Discussion in 'Politics, Religion, Social Issues' started by Rt&Dzine, Apr 28, 2011.

  1. Rt&Dzine macrumors 6502a

    Rt&Dzine

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    #1
  2. Desertrat macrumors newbie

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    #2
    How long they do well depends on the length of their contracts at prices below those of today. They may be paying only $80 or $90 for oil that others might be buying at spot. They may well have a problem if for some reason oil prices fall below their contracted price, then paying above-market prices for oil.

    But Exxon, with its tiny amount of control of the world supply of oil, is making nowhere near the money of the oil-exporting nations. The total control by all oil companies together of world oil is around ten percent.

    The Saudis profit the most, with a production cost of around $3 to $4 per barrel. That's up from 17¢ in 1981. Anyhow, round numbers, a billion bucks profit every three days. Buys lots of Rolls Royces...
     
  3. Rt&Dzine, Apr 28, 2011
    Last edited: Apr 28, 2011

    Rt&Dzine thread starter macrumors 6502a

    Rt&Dzine

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    ExxonMobil's CEO was only paid $21.5 million last year. Hopefully this year should be better.

    This is from a link provided by mcrain. Seems appropriate for this thread.

    Picture 4.jpg
     
  4. Xeperu macrumors 6502

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    As an Exxon stockholder I'm laughing daily. Woohoo capitalism.
     
  5. Doc750 macrumors 6502a

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    until you fill your tank once, and whoops! there goes the profit earnings for this year.
     
  6. Xeperu macrumors 6502

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    #6
    Where I live I pay $9.96 per gallon of regular 95 octane fuel and $7.92 per gallon of diesel.

    I envy you Americans. Stop complaining.
     
  7. 184550 Guest

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    #7
    Yes, some of us are rather shortsighted and self absorbed.
     
  8. itcheroni macrumors 6502a

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    I've almost made 200% on my Exxon trade since October. I bought some Jan 13 60 Calls when XOM was at $63. :D I'm also up over 200% on my silver trade since Jan.

    When people see their poor lot and then see others who are doing quite well, it's natural to feel anger, but I believe it is misplaced. My only position on this board lately has been that QE and government monetary policy is punishing the poor and middle class. If the government actually did what I advocate, cutting spending and taxes drastically(80%+), I would have to look elsewhere to make money because oil and silver would not be moving like they have been. Please connect the high gas prices to the metric by which it is measured, the dollar.

    If you view gas prices in pre-1965 coins made with silver, then gas is less than 10 cents per gallon- historic lows. Or if you're more of an in-the-box thinker, just compare gas prices in dollars with gas prices in a strong currency like the Aussie or Canadian dollars. There's nothing unusual happening with gas prices, the problem is with the value of the dollar.
     
  9. Rt&Dzine thread starter macrumors 6502a

    Rt&Dzine

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    That's odd. My attachment doesn't show in my post above, but the link to it shows in the "reply" view.
     
  10. Xeperu macrumors 6502

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    Ah another silver trader. Insanely nice commodity to invest in, better than gold in my opinion (I believe gold will crunch soon, while silver will stay high).

    I do, however, disagree with you that it is "natural" to feel anger when you see some people fail and some people do well. That is a notion that has been forced upon the masses by pc advocators. When I see someone do well I feel truly happy for them, even if it is over the back of lesser men. I'm never afraid to say I've made quite a bit of money while causing some people to lose their livelihood. That's business, ice cold, and I'm honestly proud of it.

    "You are without morale!" You'd say. What is morale then? In my opinion egoism and achievement are morality.

    I teach this to the business students I have in my classes. I do end up in conflicts with "ethics" professors on regular occasions though ;).
     
  11. citizenzen macrumors 65816

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    I don't feel anger over somebody doing well.

    But in another thread, you argued that it was unfair that money made off your trading was considered capital gains and subject to taxes.

    When people see their poor lot and then see others who are doing quite well complain about having to pay taxes, it's natural to feel anger.
     
  12. MattSepeta macrumors 65816

    MattSepeta

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    oh noes!!! PROFIT???

    Now, for some more interesting tidbits:

    That's a 7% profit margin. Now that doesn't sound too bad, right?

    Now let's look at some other industries profit margins(I know the source is a few years dated, this is the best I could find at the moment)... Other industries averaging about a 7% profit margin:

    Aerospace
    Food Service
    Industrial Machinery
    Food Consumer Products
    Electronics


    In summary: :rolleyes:

    EDIt: I forgot, big bad "Throw grandma in the snow" Paul Ryan supports ending oil "subsidies". What a total jerk.
     
  13. citizenzen macrumors 65816

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    There's absolutely nothing wrong with profits either.

    But I do wonder ... how much tax did Exxon pay on those profits?

    Hopefully something.
     
  14. ender land macrumors 6502a

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    #14
    But statistics are far more effective taken completely with no context! omg huge number!

    I kid, I kid.

    Either way, they still do better than a lot of industries.
     
  15. benhollberg macrumors 68020

    benhollberg

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    I just can't wait until Apple finally passes Exxon Mobile in market cap. I can just hope.
     
  16. KingYaba, Apr 29, 2011
    Last edited: Apr 29, 2011

    KingYaba macrumors 68040

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    It's worth noting that the governments, both state and federal, make more money off of the sale of gasoline than an oil company like Exxon does in profit. And Exxon has to do all the work. :D

    I hope that answers your question. :)
     
  17. rdowns macrumors Penryn

    rdowns

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    Actually, it doesn't. Where does Exxon get this $59 billion number? I can guarantee you they are adding up every tax the company pays including sales tax on purchases, payroll taxes etc. What I want to know is what they paid in federal corporate income tax.
     
  18. MyDesktopBroke macrumors 6502

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  19. dime21, Apr 30, 2011
    Last edited: Apr 30, 2011

    dime21 macrumors 6502

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    And how many $Billions of record profit did your beloved Apple post this past quarter? Can we bash Apple too, and that greedy robber barron Steve Jobs who is evil because he makes so much money by charging high prices for products that people want to buy?

    Do a little homework and you'll see that the vast majority of Exxon's profits are from foreign sales and NOT from domestic gasoline.

    As for gas prices at the pump... you can thank Barry for the "change". But don't worry, the $Trillions in new cash that he's printing to pay for the record crushing debt he's plunged this country into will cause inflation and price increases the likes of which we haven't seen in decades.

    [​IMG]
     
  20. Big D 51 macrumors 6502a

    Big D 51

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  21. iJohnHenry macrumors P6

    iJohnHenry

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    Yes, the I'm-all-right-Jack syndrome. :rolleyes:
     
  22. Bill McEnaney, Apr 30, 2011
    Last edited: Apr 30, 2011

    Bill McEnaney macrumors 6502

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    When did a tax break become a subsidy?

    The national debt skyrockets, the U.S. Mint prints more money to pay that debt, the new money devalues the dollar, and then the price of crude oil rises, too, because the dollar devalued. The more the value of the dollar plummets, the more dollars I need to spend. If the demand for foreign oil decreases, the price of foreign oil will do that, too. But President Obama won't let American oil companies drill in American waters when he's happy to let Brazil do that. Why? Maybe he's trying to redistribute wealth. Whatever he's doing, how much money does an oil company swim in with a profit margin of about 8%? As Beck would ask, Why don't the liberals complain when Apple's profit margin is about 41%

    Bill
     
  23. Dorkington macrumors 6502a

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    [​IMG]

    Interesting when you look at it historically and adjusted for inflation. Seems the general, and slow, trend is that gas prices are rising, but not as horrifically as people would like us to think. It's also not surprising, considering its a finite resource.
     
  24. P-Worm macrumors 68020

    P-Worm

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    #24
    Where did these graphs come from. I sure didn't see gas at $1.60 a gallon. I think the lowest it got for me was around $3.

    P-Worm
     
  25. SuperCachetes macrumors 6502a

    SuperCachetes

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    So. You're blaming Obama for gas prices, and the debt, and the economy? Do you think I can nail him for the big cavity I have in my molar? :rolleyes:
     

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