Exxon Mobil profit tops $10 billion

[AnthonyC]

Sweet deal! All going on gas prices sky rocketing. $3.70 a gallon here in chicago.

Exxon Mobil the world's largest public oil company, on Thursday reported quarterly profit surged 35 percent to top $10 billion, driven by yet another quarter of sharply higher oil prices.

Why not. Its a business right? :mad:

[Mr. Blue]

Free market economy...why should American companies sell a non-renewable commodity below the global market share?

Americans pay way less than the rest of the world for gas, yet we consume it at an unhealthy rate. I'm all for the price of gas to go up, people might start realizing that driving an SUV or some other gas guzzler is part of the problem.

[SirMoby]

I think gasoline needs to top $5 to $6 before we start focusing on other alternatives. Corn starts becoming profitable around $4.50.

It just seems odd that when the President, the VP, Secretary of State and most of the campaign dollars have ties to war and oil then suddenly war and oil become the most profitable things in the world.

I remember when Bush was appointed President in 1999. I told everyone that we'd see $3.00 gasoline and profits soar for oil companies. Of course few people believed me then. They also didn't believe me when I told them that we would go to war with a country and declare victory the summer before the next Presidential election. I was wrong about that one. They declared mission accomplished about 1 week before summer started so I was close :)

Take a look at the diamond industry. Those things really aren't worth much but a number of large groups control the price and have been pushing upwards for generations. Don't you think large power houses can force oil prices up or down by exerting pressure?

[Mr. Blue]

I think gasoline needs to top $5 to $6 before we start focusing on other alternatives. Corn starts becoming profitable around $4.50.

It's one of the reasons I want the price to go up. If it went to $6 people would start focusing on alternatives, the alternatives would in turn begin to release us from the ME. Honestly, US + Alternate Energy = US not giving a crap about the Middle East.

I'd love to see the U.S. extracted from the middle east and never have to touch politics in the area again. That's not going to happen as long as we're suckling on the teat of Middle East oil.

[AnthonyC]

Free market economy...why should American companies sell a non-renewable commodity below the global market share?

Americans pay way less than the rest of the world for gas, yet we consume it at an unhealthy rate. I'm all for the price of gas to go up, people might start realizing that driving an SUV or some other gas guzzler is part of the problem.


SUVs are the problem? :lmao2:

[Tommy]

ConocoPhillips' 2nd quarter profits up 65%
http://www.chron.com/disp/story.mpl/business/energy/4073737.html


Shell 2Q profit up 40 pct. on oil prices
http://www.chron.com/disp/story.mpl/ap/business/4075453.html

[Tommy]

Anthony has a Hummer and tells me sometimes when he is sitting at a red light

somebody will stick their middle finger up at him because its such a gas guzzler

I always thought that was funny

[AnthonyC]

I got the finger ONCE, and a thumbs down ONCE. But I get LOTS of thumbs up and kids yelling HUMMER! :)

Whats weird is when people talk gas guzzlers, they always refer to the Hummer, but yet, HUMMER is NOT the only gas guzzler out there.

Dodge Ram 1500 with a Hemi, got 11-13 MPG.
1976 Lincoln Town Coupe 8 MPG
1999 Chevy Cavalier 15 MGP
1973 Pontic GP, with 12 mg
79 Cougar XR7 13mpg
2006 corvette 18mpg
Mercedes-Benz G55 AMG : 12/14
Bentley Continental GT : 11/18
Hummer H2 : 10-13
Maserati Coupe & Gransport : 12/17
Aston Martin DB9 Volante : 11/17
Aston Martin V12 Vanquish S : 11/17
Bentley Arnage : 10/14
Lamborghini L-147 Murcelago : 9/13
Maybach 57 : 11/16

See my truck gets about the same as a Bentley, but NO one is flipping off a Bentley. Just us lovable Hummers. Why, cuz its an easy target, but the cool cats driving the Bentleys and high performance sports cars with milage just as bad, well, those cars are just way cool :) Lets NOT forget about the rich folks that own private jets and yatchs. They need to fuel those big bad boys up. NOT CHEAP

So when Mr Blue says SUVs are the problem. I beg to differ ;)

[SirMoby]

Oil companies making huge profits wouldn't concern me so much but there's a lot of coincidence that just looks bad.

The oil execs met behind closed doors with Cheney to define the use energy policy and this is the result.

We invade a country that doesn't seem to be a threat to us and has a bunch of oil. We seem very efficient in getting the oil to USA and British controlled companies but don't seem to have given any thought to actually winning the war and stop all the Iraqi citizens from being killed.

Rice wrote a number of memos on how to increase oil profits and most of them called for oil companies pulling together.

When you start looking at all these things put together they're pretty hard to ignore.

[Mr. Blue]

lol, I have no problem with people owning a hummer, an SUV, or any other car that gets less than say 30 mpg. I do have a problem when they complain about the price of gas though. It's just not logical to me to complain about a lifestyle choice.

My friend drives a 1968 Camaro, heavily modified engine, and it gets around 4 mpg, lol. Now, he has the money to burn cruising around in it, more power to him, but if he complains about gas prices he knows he'll get absolutely no sympathy from me.

Since the 70's we should have been working on alternate energy, high efficiency, and moving off the dependency of oil. We haven't and it's going to come around to screw us royally.

Change happens when its no longer cost effective for the average joe to ignore it anymore. $4-$6 a gallon gas and you'll see a rebirth of tiny fuel efficient cars.

[AnthonyC]

lol, I have no problem with people owning a hummer, an SUV, or any other car that gets less than say 30 mpg. I do have a problem when they complain about the price of gas though. It's just not logical to me to complain about a lifestyle choice.

I hear you :thumbsup: I bought this truck cuz I love the way it looks, handles and drives. Smooth like a caddy. People at the Gas Pump say to me. I bet it cost alot to fill that thing up. I just respond, If gas was an issue I wouldn't have bought a hummer. Im lucky in the the respect I don't commute everyday like alot of people.

Since the 70's we should have been working on alternate energy, high efficiency, and moving off the dependency of oil. We haven't and it's going to come around to screw us royally.

Sooooo true. Long time coming

[boortzland]

What no one has mentioned on this thread, is that profit dollars may be up, but profit margin is not. Its the margin what keeps you in business, not just the dollars. The Oil companies have to replace the oil they cell with the high priced oil currently being sold.

[SirMoby]

What no one has mentioned on this thread, is that profit dollars may be up, but profit margin is not. Its the margin what keeps you in business, not just the dollars. The Oil companies have to replace the oil they cell with the high priced oil currently being sold.
I think you have gas stations confused with oil companies. There is a big difference.

Your local gas station is probably a franchise owned by someone in your town. Maybe they own a few maybe they own a dozen but very few own 100 or more. At least when I was working for Mobile Oil most were small franchises.

Profit margins for the gas stations have stayed small because they buy gasoline from big oil companies that control the price. Since all franchise owners are in competition with each other margins stay competitive.

There aren't really that many oil companies that are pumping oil so they can have pretty strong control over prices. Condi Rice wrote a few documents on how the oil companies could increase profits by working together.

Don't confuse the big oil companies with your local franchise operator. You local franchise operator is very likely a small business owner that's trying to support his family and gets to use the name of the big oil companies by agreeing to purchase gasoline from them.

[boortzland]

I think you have gas stations confused with oil companies. There is a big difference.
Don't confuse the big oil companies with your local franchise operator. You local franchise operator is very likely a small business owner that's trying to support his family and gets to use the name of the big oil companies by agreeing to purchase gasoline from them.

I'm not confused. I just do not have the figures handy to quote. I'm talking about the profits of BIG OIL, not the local franchises. No matter how big the company, if you are running a small % margin, you are one step from going under, or into a costly BK. Or like 2005, 1 hurricane away.

My point is, they get alot of negative press about record dollar amounts of profits. But they are also selling record amounts of their product. Of coarse gross profits would be up.

This country will either adapt to the new pricing structures through inflation and other adjustments, or we will have a major shift in the way we either fuel our vehicles, or how we get around.

My 96 yr old mother-in-law recalls how much "older people" in the 1920's complained about all those rich folks with cars. They could hardly get around anymore with their horses & buggies. If technology changes, we may see some kind of drastic shift...who knows what that could be.

[AnthonyC]

people might start realizing that driving an SUV or some other gas guzzler is part of the problem.


Have you hugged a Hummer today? :lmao2:
http://www.reason.org/commentaries/dalmia_20060719.shtml

For instance, the dust-to-dust energy cost of the bunny-sized Honda Civic hybrid is $3.238 per mile. This is quite a bit more than the $1.949 per mile that the elephantine Hummer costs. The energy cots of SUVs such as the Tahoe, Escalade, and Navigator are similarly far less than the Civic hybrid.


Spinella's finding that a Hummer on the whole consumes less energy than a hybrid than even some smaller hybrids and non-hybrids has infuriated environmentalists. And on its face it does seem implausible that a gas-guzzling monster like a Hummer that employs several times more raw material than a little Prius' could be so much less energy-intensive. But by and large the dust-to-dust energy costs in Spinella's study correlate with the fanciness of the car – not its size or fuel economy -- with the Rolls Royces and Bentleys consuming gobs of energy and Mazda 3s, Saturns and Taurus consuming relatively minuscule amounts.


:thumbsup:

[docholly]

I'm pretty green.. you know reduce, reuse, recycle.. i drive a small car that gets like 30mph city and 40 on highway.. try to take public transportation whenever possible. etc etc..

but I have to admit in my heart of hearts that i have Hummer envy. When I lived in ATL, my neighbor had a zebra stripped HumVee (you know the original ones from Desert storm) Once I saw that I was in lust.. of course mine would be pink leopard...and right about now i'd be growing plants in it.. but doesn't mean i can't wish.

:thumbsup:

[Tommy]

I am very pro green

I have 3 little ones in car seats

you can put 3 car seats even in a large car

and using a mid sized suv is out of the question

getting a kid in to that third row and buckling them in is nuts

I gotta have a large suv

[David]

People who own SUV's have no right to bitch about gas prices? SUV's are the problem?

Hurricane Katrina is. No wait China is. No the war is... Who else can be blamed that I didn't mention?

The blame should be placed where it belongs... Bush!

SUV's have been around long enough that if they were causing problems with gas demand prices would have gone way up long ago.

Bush is a business man. His family is in a Multi-billion dollar oil business. You don't make that kind of money by being helpful and kind to other people. You fuck them until you break your dick off in them, which is exactly what that piece of shit is doing to America right now with oil, not to mention what is happening to our freedoms.

[AnthonyC]

People who own SUV's have no right to bitch about gas prices? SUV's are the problem?

Hurricane Katrina is. No wait China is. No the war is... Who else can be blamed that I didn't mention?

The blame should be placed where it belongs... Bush!

SUV's have been around long enough that if they were causing problems with gas demand prices would have gone way up long ago.

Bush is a business man. His family is in a Multi-billion dollar oil business. You don't make that kind of money by being helpful and kind to other people. You fuck them until you break your dick off in them, which is exactly what that piece of shit is doing to America right now with oil, not to mention what is happening to our freedoms.


Hi David and Welcome to the board :D

Excellent point made. I never felt SUVs were the problem. Bush is greasing up his palms with bigger and better deals

[Mr. Blue]

Okay, I missed some posts because I got bogged down with work. The point remains, whether it's a SUV / Hummer / Hybrid or something else...America is consuming oil/gas at a much higher rate than any other country, we're not really taking steps to control it in anyway, and oil/gas is a finite resource.

I suppose in the final equation whether your in a Hummer and can't find gas or you're in a hybrid and you can't find gas it doesn't much matter...but this dream state most Americans are in regarding the finite supply of oil that exists is amazing.

You know how they keep saying to drill in Alaska and the , etc, etc, and they make it like its the big way to cure our energy problem. If we sucked every last ounce out of those areas it would amount to 1 years worth of fuel consumption.

Personally I believe in the Peak Oil theory...I think a lot more people will believe it once gasoline tops off at $6 to $8 a gallon.

[boortzland]

People who own SUV's have no right to bitch about gas prices? SUV's are the problem?

Hurricane Katrina is. No wait China is. No the war is... Who else can be blamed that I didn't mention?

The blame should be placed where it belongs... Bush!

SUV's have been around long enough that if they were causing problems with gas demand prices would have gone way up long ago.

Bush is a business man. His family is in a Multi-billion dollar oil business. You don't make that kind of money by being helpful and kind to other people. You fuck them until you break your dick off in them, which is exactly what that piece of shit is doing to America right now with oil, not to mention what is happening to our freedoms.

Bush has nothing to do with it. For 35 years the USA's gas consumption has increased, but because of liberal enviromentalist we have not built any new refineries to handle the increase. That coupled with the worlds increased demand for the same oil is increasing at very fast rates.

Politicians have been using "what they are going to do about gas prices" as a political football for 30 years, so if you're going to place blame, lets go back to the Kennedy's, Jimmy Carter, 40 years of a democratic congress untill 1994, and since then Repulicans without the political will to give the Dem's the finger and just get it done.

Bush will probably sign the bill that just went through congress to explore for oil off the gulf coast, and Anwar in Alaska (not sure if anwar was in that bill). Slick Willie surely didnt do anything for gas prices.

The rhetoric of "War For OIL" is just that, B.S., Rhetoric, what every you want to call it.

China & India, both which have populations larger than the USA are now competing for the same oil we are using. As computers have opened up their economies, more folks are able to prosper and want their own transportation.

Bottom line is: It's not Bush, its not just Katrina, its not the war, is good old SUPPLY AND DEMAND.

[Kinky Jones]

Bottom line is: It's not Bush, its not just Katrina, its not the war, is good old SUPPLY AND DEMAND.

demand is up but you really don't think the bush doctrine has anything at all to do with it? you really don't think the oil rich Arabs are pretty angry with us for invading two of their countries? and that we just won't stop sticking our nose in their business because we are afraid to lose our precious oil sources?

how can an oil tycoon family control the free world and people still think it is a conspiracy thoery that they are making money on oil? and the demand is suddenly up so much while we are at war in the middle east that prices skyrocket?

[SirMoby]

For 35 years the USA's gas consumption has increased, but because of liberal enviromentalist we have not built any new refineries to handle the increase.
Didn't Condi write a paper when she was working for Chevron stating that the industry needed to cut production in order to increase prices and profits? Is she one of the liberal environmentalists that you speak about? :)

The rhetoric of "War For OIL" is just that, B.S., Rhetoric, what every you want to call it.
So far it appears to be the only reason for us to be in Iraq.


Bottom line is: It's not Bush, its not just Katrina, its not the war, is good old SUPPLY AND DEMAND.
I don't believe that it is all Dubya's doing but it just seems odd that a family like the Bush family wouldn't use their influence to help raise profits for friends that have supported them in the past.

It hasn't been their style before.

[boortzland]

Didn't Condi write a paper when she was working for Chevron stating that the industry needed to cut production in order to increase prices and profits? Is she one of the liberal environmentalists that you speak about? :)


So far it appears to be the only reason for us to be in Iraq.


I don't believe that it is all Dubya's doing but it just seems odd that a family like the Bush family wouldn't use their influence to help raise profits for friends that have supported them in the past.

It hasn't been their style before.

We can sit and throw out conspiracy theories all day. I guess you guys buy into all of the campain rhetoric about Bush & Cheney. As far as profits, no one has addresses that profit dollars are up, but the MARGIN is not.

As far as resons to be in Iraq, there are plenty of those. What about Genicide, or at least attempted Genicide. And, everyone agreed Saddam was a threat. (Bush, Cheney, John Kerry, Bill Clinton).

Do you beleive the world is more or less safe with Saddam out of the way?

This is just the tip of the iceburg guys. Raddical Islam will not be negotiated with. They only use the guise of diplomacy to buy them more time to plan more ways to persicute the west (US). In a post 9/11 world, we can not sit back and watch any longer. We need to complete the Mission in Iraq ,and also deal with any other threats as they manifest themselves.

[SirMoby]

As far as profits, no one has addresses that profit dollars are up, but the MARGIN is not.

It's such a basic part of making money that I never thought it needed to be addressed since the response is so obvious.

When you think about how businesses can grow it becomes pretty obvious that there is no need to raise profit margins when you can increase your investment and guaranteed ROI.

If you're guaranteed a 10% ROI on every dollar that you invest then it's in your best interest to find ways to invest as much money as possible.

Basically if you invest $1,000 then you make $100 profit.
If you invest $4,000 then you make $400 profit.

The world oil demand is increasing at 1% to a few % each year because while China wants more oil many countries are cutting back. The market is not growing very fast so you have to find other ways to increase profits.

Producing more oil doesn't increase profits because the market growth just isn't here.

The market isn't growing very fast but it's a captive market. People have no alternative to oil so if you have it people have to buy. That means that you can make a guaranteed ROI by producing it.

The oil companies simply increase the investment dollars by 300%, keep margins the same and end up with 300% profit increases. Since most people don't take the time to really look into the issue they buy into the margins haven't changed theory instead of the oil companies profiting by putting upward pressure on the price.

[docholly]

I guess we just need more rotting dinosaurs so we can have more find more oil..

WAIT!! "Christians" don't believe in dinosaurs (http://www.ocii.com/~dpwozney/dinosaur.htm#Introduction)because there goes that whole creation theory. Mabad.

:lmao2:

[SirMoby]

As far as resons to be in Iraq, there are plenty of those. What about Genicide, or at least attempted Genicide. And, everyone agreed Saddam was a threat. (Bush, Cheney, John Kerry, Bill Clinton).
If you can remember a few years ago or even can do a search on past reporting there was only ONE reason that we invaded Iraq and ONE reason only.

We're making up all kinds of reasons today to justify the deaths, the costs and the destabilizing of the Middle East but we went in for only ONE reason and that turned out to be false. Even the administration has admitted 2 times (after the last election of course) that the ONE reason was false.

Do I think the world is safer without Saddam? Since we put him in power and gave him WMD for the soul purpose of stabilizing a portion of the Middle East then I say "NO". While Saddam was a threat to the Iraqis that opposed him, he was no longer a threat to anyone else except those on his Eastern border.

We can make up all kinds of excuses today but none of them are based on the original reasons for being there.