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Exxon Mobil, the world’s largest publicly traded oil company, said Thursday that its first-quarter net income rose 17 percent, boosted by surging oil prices.
But even as it posted the second-most profitable quarter in its history, Exxon’s earnings managed to disappoint investors because of a drop in oil production. Shares closed down $3.37, to $89.70, on a day the Dow industrial average rose 189.87 points. The company missed earnings estimates by a dime a share.
Well yea. It cost the same exact money to refine oil to gas today as it did when the price was $3.00 or $2.50. It is all extra profit to charge more to the end user.
The claimed "extra demands" are bogus. The fact that they promised us all we will be paying $4.00 + by June of this year proves the fact that supply and demand has nothing to do with the retail price at the pump. You can not predict supply and demand months in advance but you can set a goal retail price at any time in advance.
The excuses these clowns give us does not even match up with page one in Economics 101. They either expect us to believe it or just not believe it and swallow it. The worst part is when a news person is covering or interveiwing an oil exec. They never ever question their claims. No challenge at all.
This is getting old. The dollar profit of 7 billion means nothing. Economics 101 is the fact that they show only a 7% profit margin and most companies cannot survive on that.
Supply and demand, if you do not want them to make a profit for their shareholders, stop buying gas.
Now, just so you corporation haters will know, 7% profits are nothing, you wouldnt work for it and expect them do give you something in return.
There shareholders are getting paid next to nothing, even if total usage is up they are not making the money they should be making.
Allot of the left wing buts want to take away their profits which is plain stupid. Do you people realize how many people they employ? How much they put into our economy?
Now, why is it the left wingers go after oil companies and not rip offs such as SC Johnson who makes Windex etc? They make 45% on the dollar. How about Dominos Pizza, 250% profit margin, Subway, 175% profits, Wal Mart 65% profit margin. I dont see the whiners complaining about them.
Get off the oil companies back and allow them to make a profit, after all you are demanding the product they have, if you dont like the profits they make a messly 7% profit margin, stop filling your tank and walk !
Start screwing over the corporations and we all will be without jobs. Have you ever saw a poor person or poor company give a man a job? No, you have not.
Exxon's profits are a favorite target of liberals.
Sorry folks, its not supply and demand, its the market and investors who create the prices. $4 per gallon is a foregone conclusion being that speculators will very likely be willing to continue investing in the oil market until at least that point.
How about people start whining about investors and demand they stop trying to participate in the stock market. They could just send it all to Uncle Sam instead so he can redistribute it how he sees fit, so long as its for liberal causes.
This is getting old. The dollar profit of 7 billion means nothing. Economics 101 is the fact that they show only a 7% profit margin and most companies cannot survive on that.
Supply and demand, if you do not want them to make a profit for their shareholders, stop buying gas.
Now, just so you corporation haters will know, 7% profits are nothing, you wouldnt work for it and expect them do give you something in return.
There shareholders are getting paid next to nothing, even if total usage is up they are not making the money they should be making.
Allot of the left wing buts want to take away their profits which is plain stupid. Do you people realize how many people they employ? How much they put into our economy?
Now, why is it the left wingers go after oil companies and not rip offs such as SC Johnson who makes Windex etc? They make 45% on the dollar. How about Dominos Pizza, 250% profit margin, Subway, 175% profits, Wal Mart 65% profit margin. I dont see the whiners complaining about them.
Get off the oil companies back and allow them to make a profit, after all you are demanding the product they have, if you dont like the profits they make a messly 7% profit margin, stop filling your tank and walk !
Start screwing over the corporations and we all will be without jobs. Have you ever saw a poor person or poor company give a man a job? No, you have not.
Awww, waah, poor oil companies, I feel REAL sorry for them (sorry, i got a little teary ryed, but I am better now!)
Sorry but it is supply and demand. If you are going after the oil companys - why don't you go after the big auto makers who make inefficient SUV's so we Americans can pack our fat behinds and fat children into them with 12-15 mpg? Oh way - it is an election year - would hate to get all the unions against us so we'll leave them alone. Lets see - how about all the entertainers and sports stars who make exhorbitant amounts for only one person - oh wait - they entertain us so we can look the other way. Walmart profits - oh wait they provide junk food and clothes for our behinds. Europeans have been paying $8+ per gallon for years and years and they have learned to conserve and drive efficient vehicles but Americans believe it our right to use as much resources as we can - entitlement and we want it cheaper too and we are not willing to conserve resources. Its all about the bling. So there you go - as much fuel as want is waiting for you whenever you want it. Employees of those companies who bring it to you - go live in places you'd never set foot in and they aren't rich - they are doing their jobs.
This is getting old. The dollar profit of 7 billion means nothing. Economics 101 is the fact that they show only a 7% profit margin and most companies cannot survive on that.
Supply and demand, if you do not want them to make a profit for their shareholders, stop buying gas.
Now, just so you corporation haters will know, 7% profits are nothing, you wouldnt work for it and expect them do give you something in return.
There shareholders are getting paid next to nothing, even if total usage is up they are not making the money they should be making.
Allot of the left wing buts want to take away their profits which is plain stupid. Do you people realize how many people they employ? How much they put into our economy?
Now, why is it the left wingers go after oil companies and not rip offs such as SC Johnson who makes Windex etc? They make 45% on the dollar. How about Dominos Pizza, 250% profit margin, Subway, 175% profits, Wal Mart 65% profit margin. I dont see the whiners complaining about them.
Get off the oil companies back and allow them to make a profit, after all you are demanding the product they have, if you dont like the profits they make a messly 7% profit margin, stop filling your tank and walk !
Start screwing over the corporations and we all will be without jobs. Have you ever saw a poor person or poor company give a man a job? No, you have not.
Thanks sunshine, you know it is not that people just dont understand this, it's just that they are just so stuck in the mentality, (Global warming is happening, and second only to, homosexuals being allowed to marry, that is the most pressing issue of the day, therefore we must be against the evil oil companies and the "war for oil" ) Twisted logic I know, but, Ignorance is bliss!!
I'm not worked up about oil companies making money....oil is a finite resource and there will be a day when Exxon et al go the way of the 8 track tape manufacturers.
I think economics 101 teaches us that they will raise the price of gas if we continue to use as we have. If we cut down our consumption, they will still raise the price so they can keep the cost up to "Maintain" their refineries.
Face it, the price of gas at the pump is a false price generated like the price of diamonds. It will be kept high and get higher.
Look at the "Man made" shortage back in 1973. We weren't short on oil. Big oil admits that they limited the production so they could drive the prices up to what they should be.
They'll do it again if we cut back.
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(sorry, i got a little teary ryed, but I am better now!)
