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Thread: Exxon 2008 profit: A record $45 billion

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    Re: Exxon 2008 profit: A record $45 billion

    Quote Originally Posted by Arch Enemy View Post
    It wasn't a difficult move on their part. America depends on gasoline.
    If you were CEO of Exxon, what would you do?
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    Re: Exxon 2008 profit: A record $45 billion

    Quote Originally Posted by Rodney View Post
    In any other thread on taxes the average conservative is blind with rage about, "the guy with all the money being taxed". BTW I still don`t care about the price of ethanol in EUrope. While 10s of millions of people went broke,lost their jobs,lost their home,your buddies at BIG OIL were money whoreing. Not just makeing a profit...the truth is getting out there,...I don`t know what your gonna do now,for an explaination or excuse. Keep whineing is my guess.
    10s of millions of people lost their jobs??? making up facts, again?

    Why do I get the feeling that the difference between making a profit and money whoring is completely dependent upon whether you like someone or something?

    In other words, your money whoring standard is completely irrelevant and it reveals that shallowness of your thinking.

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    Re: Exxon 2008 profit: A record $45 billion

    Quote Originally Posted by Rodney View Post
    OK harry....OK. By the way, I DON`T DO IT. I truely am just to god damned moral to over charge ,or price gouge. Could be part of my poverty,but I still wont go there.
    How do I know you don't price gouge? Did you come out with positive income last year? If so, then OMG PRICE GOUGE!!!!11!!!one!
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    Re: Exxon 2008 profit: A record $45 billion

    Quote Originally Posted by Harry Guerrilla View Post
    How do I know you don't price gouge? Did you come out with positive income last year? If so, then OMG PRICE GOUGE!!!!11!!!one!
    Ask him if he's ever sold a home. He's almost certainly had engaged in price gouging.

    Price gouging, of course, is in the eye of the beholder. The consumer is always being gouged.

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    Re: Exxon 2008 profit: A record $45 billion

    Quote Originally Posted by JMak View Post
    Ask him if he's ever sold a home. He's almost certainly had engaged in price gouging.

    Price gouging, of course, is in the eye of the beholder. The consumer is always being gouged.
    I hate when people go on about price gouging, hoarding and/or greed. The first two terms a seriously subjective and the third is what everyone does.
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    Re: Exxon 2008 profit: A record $45 billion

    It seems some of our DP patrons are unfamiliar with the concept of supply and demand. You see, a consumer, having money, has need for a certain product or service, this translates into "demand". Conversely, a business or corporation will accommodate this demand by "supplying" the product or service at a certain price. The parties will engage in a mutual transaction where the consumer exchanges money for the product or service. This phenomenon may occur sometimes on a massive scale which results in million or even billions of similar transactions, which results in what we like to call "profit". "Profit" is a side-effect of doing good business. We will discuss "profit" and why it is good in further detail next week. Until then, take care of yourself, and each other.

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    Re: Exxon 2008 profit: A record $45 billion

    Quote Originally Posted by American View Post
    If you were CEO of Exxon, what would you do?
    I could never be the CEO of a large corporation like Exxon. I don't care enough about having large amounts of money.
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    Re: Exxon 2008 profit: A record $45 billion

    Quote Originally Posted by Arch Enemy View Post
    But I don't own any part of Exxon, so I am not elated by their profits.
    They probably produced tens of billions of dollars of revenue for the federal government, which kind of elates me.
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    Re: Exxon 2008 profit: A record $45 billion

    Quote Originally Posted by RightinNYC View Post
    They probably produced tens of billions of dollars of revenue for the federal government, which kind of elates me.

    At corporate income tax rates by themselves, it's $16 billion. Then include all the other taxes, plus the second tax on the incomes of the shareholders.
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    Re: Exxon 2008 profit: A record $45 billion

    Quote Originally Posted by EgoffTib View Post
    http://money.cnn.com/2009/01/30/news...ex.htm?cnn=yes

    Oil company beats estimates despite income decline in latest period due to falling prices.

    NEW YORK (CNNMoney.com) -- Exxon Mobil reported the largest annual profit in U.S. history Friday, making $45.22 billion on the back of record oil prices.


    But Exxon's quarterly profit fell over 33%, as crude prices dropped precipitously in the last quarter as recession spread through the globe.

    Exxon (XOM, Fortune 500), the world's largest publicly traded oil company, made $7.82 billion in the fourth quarter on revenue of $84.7 billion. On a per share basis, the company made $1.55, beating analysts' estimates of $1.45 a share.

    Exxon shares rose 1% in pre-market trading.

    Exxon's annual profit beat the previous record - $40.61 billion - set by the company in 2007.

    Oil prices, the driving force behind oil company profits, swung widely in 2008. Crude hit a record $147.27 in July, as surging global demand and wide investor interest pushed up commodity prices across the board.

    But as the credit crisis spread and cracks emerged in the global economy, money fled the oil market. By December crude traded in the $30s.

    Although stocks in general and oil stocks in particular have fallen sharply in the last few months, Exxon's share price has held up quite well. Exxon shares are down 9% in the last 6 months, compared to a drop of over 30% in the broad Standard & Poor's 500 index.

    Analysts have credited the company for a shrewd management style, avoiding lots of spending on expensive projects to find and develop oil when prices were high.

    "ExxonMobil's financial strength continued to support its disciplined capital investment approach in the midst of a growing global economic slowdown," Exxon chief Rex Tillerson said in a statement.

    The recent drop in oil prices recently has also muted calls for a special windfall profits tax - popular during the summer months when crude traded over $100 a barrel.

    During his campaign, President Obama called for a special tax on oil profits whenever crude went above $80 barrel. But with oil prices currently trading around $40 a barrel, and an unprecedented financial crisis to deal with, legislation targeting oil companies has been on the back burner. To top of page
    Last time I checked Exxon had PLENTY of competition in the US.

    Thus, if anyone is so upset with Exxon's profits then you can buy gasoline from their competitors like Shell.
    Last edited by scourge99; 02-07-09 at 01:24 AM.
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