Thread: Record Profits for Exxon
01-31-2006, 02:21 PM #1
Record Profits for Exxon
Exxon Mobil just posted $10.71 billion profits for the 4th quarter of 2005. Their profits were $36.13 billion for the year. Exxon's profit was the largest annual reported net income in U.S. history !!!!!
This was at the expense of you and I. I think a plan to put the squeeze on them HAS to be started. Using the power of the internet, We the people, can effectively bring this money hungry company to it's knees.
I'm not talking about the previous scheme of not buying gasoline for a day...this does nothing. They know that the next day you will only buy that much more. We have to get the word out to the people of this country and have them join forces to not buy any fuel from Exxon or Mobil. There are plenty of other companies selling it. If no fuel is purchased, the various dealerships will immediately feel the pinch. Even if the price is lowered, we still have to avoid buying any fuel from Exxon/Mobil. Lets put their dealerships out of business !
If we unite and get the word spread throughout the internet we can show the oil companies who their boss really is !!! I hope you will join me and post this on every message board you visit and send it to everyone in your address book.
01-31-2006, 03:26 PM #2
Did you see how today all the oil execs declined to meet at a Senate hearing to discuss the price fixing and gouging they've been involved in.
WASHINGTON (Reuters) - Officials from six major oil companies have refused to testify this week at a Senate hearing looking into whether oil industry mergers in recent years have made gasoline more expensive at the pump.
01-31-2006, 05:08 PM #3
Re: Record Profits for ExxonOriginally Posted by way2fast
This won't work! Never has and never will. If there are two gas stations across the street from each other, Exxon and BP for instance........
Everyone goes to BP, Exxon lowers their price by 2 cents. People see that, and rush over to Exxon and buy gas there.......
The laws of supply and demand are very powerful, and eventually win everytime.
01-31-2006, 06:56 PM #4
I go to Hess or Racetrac and pay 5 cents less than at Exxon or BP ! Why then does anyone buy the more expensive gas ? If the public would realize that they have the last word when it comes to setting prices they would do as I suggest and boycott Exxon.
Ever since the Exxon Valsez (spell?) oil spill off Alaska, I wouldn't buy Exxon gas if it were 50 cents a gallon !!
01-31-2006, 07:46 PM #5
Well then, you are one in a million. Most everyone else will buy the same comodity at the lowest price they can........
01-31-2006, 08:12 PM #6
- Join Date
- Nov 2005
You will never change the oil industry and how much money they make until someone comes out with technology so we are not dependant on oil and petroleum products. We have this technology already but it cannot be implemented because of the cost. The oil companies are in big with government and lobbie the hell out of politicians. They are making huge profits because there is no one to regulate them as far as price is concerned. $4 a barrel is how much it costs the oil companies and yet they sell it for $60-$80.
They will milk us for every penny. The energy companies do it to us too. We have alternate means but they do not want to push them because there is money to be made and they dont' want to loose out.
01-31-2006, 09:22 PM #7
- Join Date
- Jan 2006
- Rydal, Georgia U S A
I think in the ninties Midland and Odessa lost one half it's population because they were making so much money. Now with China competing for our steel, cement and fuel the free market is adjusting. I don't like it anymore than you do
01-31-2006, 10:03 PM #8
Whoever decided that oil should be traded on the market like a common stock should be shot, or their family shot.
Situations that have nothing to do with oil effect the price of oil. Just because some rag head sneezed in bum fuck egypt doesn't mean we should start paying out the ass.
We also need to throw out all career politicans and start fresh, term limits on EVERYONE. Make lobying illegal and punshiment by hard chain gang labor for 5 years.
The people of the USA no longer run the gov. We are pulled around like a mutt on a leash, a short leash.
01-31-2006, 11:09 PM #9
A standing ovation for Lurker !!!!!!!
02-01-2006, 08:40 AM #10
Anyway, not here to "defend" the oil company profits, but I just wanted to point out that 70% of there profit comes from their exploration and production division. Refining and marketing operations account for another 20%, and the other 10% from Exxon's other endeavours. The exploration and production dividend posted a 44% increase from a year ago. In the same time frame the price of oil also rose by 40%. Now wouldn't it make sense that the two would show a very close correlation. So, you have a part of the company that is set up to explore, drill, and sell crude oil experiencing an increase in the price of the product it obtains and sells on the open market making record profits when oil prices are at record highs.
How about the recent increase in the price of gold as another example? Gold prices are now at 20 year highs, something like $500 or $550 an ounce. Now, the gold companies that mine the gold out of the ground are also experience record profits due to the increase in the price of gold. What's the difference between the gold companies and the oil companies? Both "mine" or "pump" a commodity out of the ground and both then proceed to sell the product on the open market at the going price. If the price of the commodity they sell, goes up drastically, shouldn't their profits go up accordingly because it's not costing them any more to get the product out of the ground. It still costs the oil companies the same to get it out of ground whether the price is $18 a barrel or $68 a barrel like it is today. If it costs you $15 a barrel to get it out of the ground and you can only sell it for $20, then you are not making much profit which was the case back in the 1990's. Now if it costs you $15 to get it out of the ground and you can sell it for $68, that's $53 profit.
Depending on which article you read, there is also more investment headed for additional exploration, infrastructure and refining capacity, but I'm sure it's not at the same level as the record profits.
Anyway, go ahead and flame away...
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