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Exxon has $214 billion of "hard" assets (plants, property, & equipment) on their balance sheet. $40 billion a year is a good return on that, but not outrageous IMHO. For comparison's sake, Apple's making $40 billion+ a year with only $7 billion in hard assets.
hotair2: If Exxon is doing that well, buy their stock. That will entitle you to attend the shareholders' meeting and let them know your opinion of their policies and politics. Get your friends to buy their stock. Organize a bloc of like-minded people to attend their meetings.
Aside from their overseas assets 100% of their profits coming from US oil should go to federal coffers. American resources should not be controlled by a few people
It isn't.
So how much do you pay extra at the pump because Exxon made a profit?
We have an ownership interest in 46 refineries in 26 countries and distillation capacity of 6.3 million barrels a day. These refineries also have a combined capacity to produce an industry-leading 150,000 barrels of lube basestocks, which are used to make the lubricants that keep engines and equipment running smoothly.
One barrel of oil is 42 gallons and at 6.3 million barrels per day we get 264,600,000 gallons every single day which is less than 40 cents per gallon.Whoopee, if Exxon was a non-profit you could purchase gas for $3.30 instead of $3.79. Impressive!
Two things come to mind; if they are so filthy rich why don't you invest some of your money into Exxon stock? Second thing is who are these fat cats? Most of the stock is held by retirement accounts and pay dividends to people like the retired teachers of California. Yeah, let's take their money!
so Exxon makes money supplying us with gas that we need. Ever read that fed and state tax per gal on the pump. ha ha who is really cleaning our wallets. yup the gov
Why would I move to such a miserable place? Highest suicide rate in the US
Quote:
Originally Posted by nicet4
It isn't.
So how much do you pay extra at the pump because Exxon made a profit?
That's not even relevant, it's not about lowering gas price. Norwegians pay more than double what we do, it's just that all the profit from this national resource goes to benefit the people who it belongs to..Not to enrich a small few. Also Exxon is not the only company operating in the US, we even have multiple foreign companies drilling in the US which makes absolutely no sense.
All the profit from US oil reserves would go a long way in reducing our budget deficit. Totally support Exxon drilling outside the US making money from other countries, though, would even allow reasonable payments for them to drill for us should we ever do the patriotic thing and nationalize oil resources.
Sounds like we need to tax the poor more so that we can cut Exxon's taxes. In fact all companies should pay zero tax because every dollar they pay means less jobs created while money given to the poor does nothing for the economy and durrrrrrrrrrrrrr *brain falls out*
Just the American people should profit through improved budget or pension fund, like in Norway. You think Norway would be better off if they had a handful of men profiting from their oil reserves and not all Norwegians? Heck, we even have foreign companies drilling our oil.
The oil and gas under my property is mine. I can let Exxon drill if I want.
It's part of our private property rights here in the US and I don't want the Fed Govt taking my guns or my property.
Communist and socialist take your property for the good of the country.
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