A new milestone

[92RAGTOP]

Exxon/Mobil announced the highest Quarterly profit ever posted by an American company 11.16 billion that's $116,000,000,000.00 . Multiply that by 4 quarters. That's $464,000,000,000.00 a year.

Cool huh? I'm just a sucker for milestones. :mad:

[C5pilot]

Exxon/Mobil announced the highest Quarterly profit ever posted by an American company 11.16 billion that's $116,000,000,000.00 . Multiply that by 4 quarters. That's $464,000,000,000.00 a year.


Better check your decimal places. ;) (besides, I read it was 11.68 billion)

I think the important part is analysts still say that figure is 12% lower than projected. Apparently, they didn't need to spend 7 billion on exploration in the 2nd quarter. :rolleyes:

[92RAGTOP]

You're right Joe, I misheard it is only a paltry 11 billion. BUT...it's still a milestone:eek:

[Gorgon]

Let's just put this in perspective. While people complain the oil companies make profits, they don't seem to care that the government takes three times what the oil companies get from a gallon of gas. What are we seeing for the money they are getting? That pisses me off way more than gas companies posting profits.

[Joel Fellman]

I guess Exxon recuperated from the Valdez disaster!

[carboman]

Excellent! I guess my dividends should be going up too :D I only wish I had bought more stock over the years.

If you can't beat the oil companies, at least buy their stocks.

[Glennm27]

Those numbers were for the 2nd quarter, wait until you see the 3rd quarter numbers when they are released in October......

[carboman]

Those numbers were for the 2nd quarter, wait until you see the 3rd quarter numbers when they are released in October......


Yahoo! Even higher dividends.

[Silver O Six]

:eek: :eek: :eek: :eek:

[C5pilot]

Let's just put this in perspective. While people complain the oil companies make profits, they don't seem to care that the government takes three times what the oil companies get from a gallon of gas. What are we seeing for the money they are getting? That pisses me off way more than gas companies posting profits.

Yep. The last figure I saw was over 50 cpg in taxes in PA, 33 cpg NJ, 60 cpg NY, 41 cpg DE.

And about 25% higher for diesel taxes. And the government has the nerve to call oil companies greedy! The government is making out better than investors without the risk!

[Norm Clemmer]

Yep. The last figure I saw was over 50 cpg in taxes in PA, 33 cpg NJ, 60 cpg NY, 41 cpg DE.

And about 25% higher for diesel taxes. And the government has the nerve to call oil companies greedy! The government is making out better than investors without the risk!

Agree...but the government didn't increase taxes that made it go up from 2.25 to 4 in less than two years.

[C5pilot]

Agree...but the government didn't increase taxes that made it go up from 2.25 to 4 in less than two years.

That's what commodities do. Got a 42,000 gallon tank to buy 1 contract? I'm sure you could probably use that in Diesel alone. I can place your pre-paid order with ours if you don't have a broker. Just tell me where you want it delivered and which month you can take it all. :)

[Gorgon]

Agree...but the government didn't increase taxes that made it go up from 2.25 to 4 in less than two years.

For a $4.00 gallon of gas the oil companies see ~$.33. The majority of the cost is in the crude itself. At $130 per barrel and 42 gallons per barrel, the cost of the raw materials is $3.10 per gallon. The oil companies don't set this price.

However, you CAN blame the government for the deficit spending that has weakened the dollar. If the dollar had stayed on par with the euro for the past 5+ years we'd be paying closer to $3.00/gallon instead of $4+.

What is so irritating is that goverments take so much more than what the oil companies take which is supposed to go to the building and maintainance of the country's road ways. How can our infrastructure be in the state that it's in with all the money that is collected?

[Torch Red Ryder]

I guess Exxon recuperated from the Valdez disaster!

I was in Valdez, AK today and paid $4.93 per gallon of gasoline. I was told that Exxon did pay millions to clean up the bay, but the newspapers won't mention that. BTW Valdez is the world's snow capital. They get up to 29 feet of snow each year.

[hcvone]

Understand one thing, ExxonMobil did that profit on 140 BILLION in sales, that works out to 8.2% profit, and yes I am a stock holder, and why that is good it's far from great. Take a company like Merck, if Merck was to do 140 BILLION in sales for a quarter thier profit would be 45 BILLION and not the roughly 12 BILLION that ExxonMobil made, that is because Merck makes about 29% profit.

[hcvone]

I was in Valdez, AK today and paid $4.93 per gallon of gasoline. I was told that Exxon did pay millions to clean up the bay, but the newspapers won't mention that. BTW Valdez is the world's snow capital. They get up to 29 feet of snow each year.
Places in Washington State in the mountains get 30-40 ft of snow a year, they were listed in the last snowmaobile mag.

[Torch Red Ryder]

Places in Washington State in the mountains get 30-40 ft of snow a year, they were listed in the last snowmaobile mag.

Yes, but they're not cities.

[hcvone]

Yes, but they're not cities.
I did not see the word cities in your post. ;)

[Torch Red Ryder]

I did not see the word cities in your post. ;)

Sorry, but I take so much time to ensure I spell words correctly, that I sometimes forget and leave out a word. ;ae

[hcvone]

Sorry, but I take so much time to ensure I spell words correctly, that I sometimes forget and leave out a word. ;ae
I do that but I thought it was because I was old. :eek:

[Torch Red Ryder]

I do that but I thought it was because I was old. :eek:
You're not old. It's possible there's another reason. :D BTW I got gasoline on the way to Fairbanks for $4.68 a gallon for regular. :)