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


    Oct 8, 2008
  2. Desertrat macrumors newbie

    Jul 4, 2003
    Terlingua, Texas
    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


    Oct 8, 2008
    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

    May 3, 2010
    As an Exxon stockholder I'm laughing daily. Woohoo capitalism.
  5. Doc750 macrumors 6502a

    Aug 11, 2010
    until you fill your tank once, and whoops! there goes the profit earnings for this year.
  6. Xeperu macrumors 6502

    May 3, 2010
    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

    May 8, 2008
    Yes, some of us are rather shortsighted and self absorbed.
  8. itcheroni macrumors 6502a

    Sep 23, 2005

    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


    Oct 8, 2008
    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

    May 3, 2010
    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

    Mar 22, 2010

    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


    Jul 9, 2009
    375th St. Y
    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:

    Food Service
    Industrial Machinery
    Food Consumer Products

    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

    Mar 22, 2010
    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

    Oct 26, 2010
    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


    Mar 8, 2010
    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


    Aug 7, 2005
    Up the irons
    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


    Jul 11, 2003

    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

    Jun 2, 2007
  19. dime21, Apr 30, 2011
    Last edited: Apr 30, 2011

    dime21 macrumors 6502

    Dec 9, 2010
    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.

  20. Big D 51 macrumors 6502a

    Big D 51

    Jan 15, 2011
    Mobile, AL
  21. iJohnHenry macrumors P6


    Mar 22, 2008
    On tenterhooks
    Yes, the I'm-all-right-Jack syndrome. :rolleyes:
  22. Bill McEnaney, Apr 30, 2011
    Last edited: Apr 30, 2011

    Bill McEnaney macrumors 6502

    Apr 29, 2010
    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%

  23. Dorkington macrumors 6502a

    Apr 5, 2010

    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


    Jul 16, 2002
    Salt Lake City, UT
    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.

  25. SuperCachetes macrumors 6502a


    Nov 28, 2010
    Away from you
    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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