Exxon profits $11.7 BILLION in the 4th quarter of 2007
 

"Exxon's profit was the second-highest ever by a U.S. corporation -- after its all-time record of $11.7 billion in the fourth quarter of 2007."
http://articles.moneycentral.msn.com...01markets.aspx

If these fucking compaies are profiting so much, why the fuck is gas sooo fucking expensive ?!?! Then again, I guess with those kinds of profits, that's why. You figure that was for the 4th quarter of last year. I can imagine what kind of profits they'll be turning in for the first quarter of this year.

You'd think that someone would step in and force them to drop the price since they're making that kind of profit, it's fucking rediculas. It's like they have a monopoly over us, they can charge us whatever they'd like because there's no competition.

I just can't wait for the day to come when we don't need gas any more and we can tell them to stick their fucking oil up their ass !!! Then again, I suppose we'll be at the mercy of whatever other form of energy is needed to power future vehicles.

Holy shit. Welp, see you at the pump. :(

Ballers, they are.

What recession?

Poor Exxon, times are tough..

and we the sheep do nothing about it - it is obscene and immoral and there should be a revolt by the people. it's all blood money - i say start taking out the board of directors of oil companies one by one.

So what? They paid to explore, innovate and pump that oil. I don't hear anyone crying to prop up with tax dollars all the juniors you've never heard of who have went out of business because they didn't find any oil and ran out of money. I guess you could always nationalize them like a lot of shitholes in this world have done.

The US government spent like ONE THOUSAND BILLION dollars last year on its military..

But yeah, Exon is raping you at $11... Military $1,000... Exon, $11...

If only you could get rid of Exon you'd be golden! You could afford EVERYTHING!

Baaaaaaaaaaaaaaaaaaaaaaaaaaaaa

:1orglaugh:1orglaugh:1orglaugh:1orglaugh

Wait Wait I wanna say the rightwing tag line its only 10%. They make almost nothing.

what the fuck do you expect when Bush is in office?????

These oil companies are trying to make their money while they can because everyone is scared of global warming and trying to push eco-friendly cars and energy. They know within a few years their profits are going to tank when oil isn't in demand because of advances in technology, so they ass-rape us while we still depend on oil. simple as that.

If you look at the money being spent on deep oil exploration, it's nothing compared to what they are makeing.

We have so much oil of Florida, that could easily bring the price of Oil down, or simply keep it at $100.00 a barrel.

All these guys want to do is keep racking in the bucks, and waiting for the government to give them a handout to explore.

They could actually afford to cut back on some of that military.

http://www.globalissues.org/i/milita...ution-2006.png

http://www.globalissues.org/Geopolit...e/Spending.asp

Their will be more demand. Not everyone can buy a new car, and even the new cars today are not that cost effective.

It takes years to build mass transit lines, decades here in South Florida...:mad:

damn i need to get some stock

I was reading about the whole if we drilled more here and built more refineries gas would be so cheap. The current refineries are only at 85% capacity so the ones here already are not operating at 100%, so that kills we need more of them. As far as drilling here, oil is a global market so it wouldn't go to the us it would go to the highest bidder.

Maybe should take in mind that there are not working 10 people at this company
Maybe you should take in mind there are many share holders in this company
maybe you should first take some lessons economy before you say something stupid...

If they were willing to give back all of their profit and operate as a non-profit charity it would only drop the price of gas 2 or 3 cents a gallon.

Oil company profits are a red herring.

If we wanted to do something that would significantly reduce the price of oil we would pull all of our troops out of Iraq. The "risk premium" that is built into the price of oil is around 30%.

Exxon Mobil actually LOST over $1 billion on their refining margins because gas prices were low compared to the price of oil. They made their huge profit on E and P (sales of the oil itself). Refining margins have slipped quite a bit since last year. On the east US coast the "3-2-1 crack spread" (a measure of refining profits) has dropped from $11.37 to $6.66.

Sure, no one is crying over Exxon's refining losses but they are making money selling the barrels of oil, not refining it and selling you gas.

A good example is Valero Energy; a refiner; whose first quarter profits were down 77%.

Ever since Exxon and Mobil merged its been nothing but record profits and indirect problems caused by gas prices.

People say supply and demand .. blahh.. blahh..

Its an oligopoly.

They have already busted all these oil companies into smaller compaines once before..

My bad. They had a refining and marketing profit of $1.17 billion; down 39% from last year.

Exxon/Mobil produces about 4 million of the 85 million or so barrels of oil produced per day. Less than 5% of the total. What's Saudi Aramco producing? About twice that, I think.

It's a perfect storm.

March 6, 2008. "OPEC Says Members Won't Pump More Oil"
April 28, 2008 "OPEC president sees $200 oil possible"

Then look at all the major integrated oil companies. Many are having trouble replacing their production. Conoco and Exxon even had assets seized by Venezuela last year. Nationalization of oil asset continues to be a problem.

US peak oil production was almost 40 years ago. the UK probably peaked in 99. Their oil production is down 43% since then! Norway is down 25%. australia peaked in 2000.

Nigerian pipelines are being blown up.

Russia announced last month they might have reached peak oil production.

There are serious questions about Saudi production and reserve claims (Matthew Simmons book)

Mexico's Cantarell field seems to have peaked much earlier than anyone thought.

Oil consumption is supposed to increase by 35% over the next 20 years. Where will it come from when suddenly no one can produce more oil?

If Canada was ever attacked what would you guys do? :1orglaugh

Still nothing on the Pharm companies.

Drugs > Oil

Also keep in mind, the American Dollar value has dropped on the world market, resulting in bigger figures domestically. These guys sell oil to the world not just America.

Gawd you people are fucking dumb.

It's no wonder I was able to retire early, the median intelligence these days is one step short of retardation on a large population scale.

Be glad you do not invest, most of you would lose your asses.

State owned monopolies and oligopolies.

Agreed on the dollar.

There's no end to the perceived injustices in the world.

Big pharma has a lot of problems. Lots of patent expirations and generic competition coming in. Pfizer and Merck have had and are going to have some big expirations. How will Pfizer replace Lipitor; the #1 selling drug in the world? Pfizer stock is selling at the same price it was 10 years ago.

France's Sanofi Aventis is probably a good one to own though.

Gas prices are finally catching up to the price of bottled water.

:thumbsup