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Exxon 2008 profit: A record $45 billion

Rodney said:
I`m not out of shape because someone made money. I`m out of shape because families are liveing in the streets. AS prices topped $4.00 a gallon and delivered gooods went up 10,..20...30%, More people lost their homes and moved into the street. Their kids are eating out of jars. Thats not emotion,thats fact.
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Your desperate rhetoric is pure unadulterated emotional babble void of reality and facts.

So you think that these people are out on the streets because Exxon made a profit? What a fascinatingly dumb argument.
 
Truth Detector said:
What a fascinating argument considering that we Americans pay less at the pump than almost any other free nation.

But of course, it is equally ironic watching Liberals who apparently are angered that a company would actually make huge profits, which is a GOOD thing in that they employ thousands and will pay HUGE taxes, also rail about how bad the unemployment figures in the country are and want more jobs.

Yep, in order to have a Liberal philosophy, you have to willingly avoid reality and wallow in denial. :roll:
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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.
 
Truth Detector said:
Your desperate rhetoric is pure unadulterated emotional babble void of reality and facts.

So you think that these people are out on the streets because Exxon made a profit? What a fascinatingly dumb argument.
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And you think they put themselves on the street by buying a home. You don`t think the 10,...20,...30% price inflation on food and energy played any part. You are an emotional self indulgent money whore. Its the only thing that explains your front of ignorance.
 
Rodney said:
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.
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What can one say to such child like rants but...... :rofl
 
Rodney said:
And you think they put themselves on the street by buying a home.
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I don't recall making this argument; where did you pull this one out of?

Rodney said:
You don`t think the 10,...20,...30% price inflation on food and energy played any part.
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We haven't had 10....20.....or 30% inflation. Do you just make up your own set of false facts to support your inane conclusions and willful denial?

Rodney said:
You are an emotional self indulgent money whore. Its the only thing that explains your front of ignorance.
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:rofl No, you would be typically wrong, I am a rational person with intelligence trying to make sense of all your incoherent rants.

But alas, it is obvious based on the above there is no senses here; by all means, carry on. :rofl
 
Rodney said:
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.
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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.
 
Rodney said:
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.
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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!
 
Harry Guerrilla said:
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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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. :roll:
 
JMak said:
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. :roll:
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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.
 
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.
 
Arch Enemy said:
But I don't own any part of Exxon, so I am not elated by their profits.
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They probably produced tens of billions of dollars of revenue for the federal government, which kind of elates me.
 
RightinNYC said:
They probably produced tens of billions of dollars of revenue for the federal government, which kind of elates me.
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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.
 
EgoffTib said:
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
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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.
 
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Arch Enemy said:
Ah

Good point. Good point.
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Here's another one - think of all of those teachers and nurse and pipefitters and machinests whose pensions funds are more stable now because Exxon returned to them a healthy return.

Who do people imagine are the largest investors in America? It's Pension and Mutual Funds.

Secondly, it took (depending on the current stock price) a hundred or two hundred billion dollars in capital to earn that money. Risk capital, I might add.
 
Harry Guerrilla said:
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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Harry ,I just don`t do it...not even a little bit. I`m a fool for doing it, but I gouge myself, to a fault, to avoid any risk of overcharge to the customer. The most common gouge out there,(in manufactured goods) is low quality. I kill myself in providing incomperable quality. The US auto industry killed itself with planned obsolesence...the gouge of the money whore,and his mindset is ,"don`t give them anything that will last to long"... and ,"profit at all cost, F**k thy neighbor".
 
RiverDad said:
Here's another one - think of all of those teachers and nurse and pipefitters and machinests whose pensions funds are more stable now because Exxon returned to them a healthy return.

.
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Did it outway the cash they had to put into their gastanks, heating oil, etc.?
 
Arch Enemy said:
But I don't own any part of Exxon, so I am not elated by their profits.
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I heard on CNBC that a hefty percentage of pension funds are oil reliant. Exact numbers are ranging by source.
 
scourge99 said:
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.
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LOL...yeah, how's that working out? Other than sending your money to Europe?...:(
Royal Dutch Shell Plc (RDSa.L)...full-year profits to $31.4 billion, a record for a European company and up from $27.6 billion in 2007.

Shell Q4 profits fall, but will raise Q1 dividend | Reuters

BP and Royal Dutch Shell, Europe's largest oil companies, delivered record profits for the first quarter of 2008. Anglo-Dutch firm Shell netted $7.78 billion in the first three months of this year, up 12% over the same period in 2007. Profits at rival BP, meanwhile, swelled by almost half to $6.59 billion.

BP and Shell Downplay Record Profits - TIME
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On a side note...
The United Steelworkers union on Tuesday said it reached a tentative agreement with a unit of Royal Dutch Shell, a move that averts a possible strike at facilities that handle the bulk of the U.S.'s crude oil refining capacity.


Refinery workers settle contract dispute with oil majors - MarketWatch
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Oh my, that has to be a conservatives nightmare, a company making record profits with union membership...:lol:

Oil/chemical workers make comparable wages and benefits as autoworkers.
 
Good for Exxon. You don't like their profit, don't shop/buy gas from Exxon.

there is a SIMPLE solution to your outrage.
 
EgoffTib said:
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
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Due to the heartles closed mindedness of the MONEY WHORE, I`m going to just go all the way on this one,...Total federal control of these economy crushers...money whores. "PRICE FREEZE", price control wont do it. If industries can freeze our wages WE THE PEOPLE/government should be able to freeze their price gougeing ways....TOTAL PRICE CONTROL...I mean freeze.
 
They made $45 billion in profit. That doesn't tell us much. What was their profit margin? Would you be outraged if you knew it was about 10 percent? The biggest corporation earns the most profits. Imagine that!

Microsoft earns about 35 percent profit. There is nothing particularly profitable about selling gas.

I'm glad somebody is making money for all the retirees who invested.

3 months from now there will be more articles about Exxon reporting a record profit, and then 3 months after that.
 
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