[Teligacio]

Without getting overly political, it is SO time for a windfall profits tax again. . .

[retTreftowhexm]

Whats even worse, is that was under their profit expectations lol.

Although the dollar was up earlier, so thats promising.

[Rjvpicux]

Exxon Mobil - Making hay while the sun shines.

[arerrurrY]

Considering their net revenue for the quarter was 116,642.00 Billion, the total net profit was 9.9%. That is normal for most companies.

...but since its gas and everyone thinks they are entitled to cheap gas then its somehow worse for gas companies to make money than any other business.

[lodsemelf]

Considering their net revenue for the quarter was 116,642.00 Billion, the total net profit was 9.9%. That is normal for most companies.

...but since its gas and everyone thinks they are entitled to cheap gas then its somehow worse for gas companies to make money than any other business.

When an economy is taking a hit and jobs are being lost due to soaring gas prices, yes, it is indeed worse for oil companies to make this kind of money.

[arerrurrY]

When an economy is taking a hit and jobs are being lost due to soaring gas prices, yes, it is indeed worse for oil companies to make this kind of money.

and why not?

Food prices are going up and people can't buy rice and milk now, but Publix is still posting a 6% profit for the quarter. Are you telling me they shouldn't be making this kind of money too? Target made 5.5% profit. Shell Oil made a 7.1%. Since when in this country does making 10% profit in a quarter make you a criminal? Last time I checked consumers had a choice in what gas they bought. If you don't like Exxon go somewhere else, or better yet change your lifestyle so that oil companies don't make this much money.

Yeah, $4 gas sucks, but its here to stay so deal with it. I'm moving in 3 weeks to be 2 blocks from work so I can walk to work and not have to keep filling up with 93 every week and a half. TBH, $4 gas is exactly what this country needs if we're going to curb the retarded habits of a culture which doesn't care about the amount of energy they use and loves the SUV as a means of transporting their 1 kid to soccer practice.

[poekfpojoibien]

Without getting overly political, it is SO time for a windfall profits tax again. . .

Do you think a company that gets taxed more is really going to pay for it? They will just pass the cost of a tax increase to the customer like all companies do. So instead of $4 a gallon it will be $5. The old democratic / liberal idea of taxing "The Rich" is just a joke because these companies will just pass the cost to us the consumer and we will be the ones getting screwed again.

[myhackingtosh_ws]

Do you think a company that gets taxed more is really going to pay for it? They will just pass the cost of a tax increase to the customer like all companies do. So instead of $4 a gallon it will be $5. The old democratic / liberal idea of taxing "The Rich" is just a joke because these companies will just pass the cost to us the consumer and we will be the ones getting screwed again.

its a big loop.....

[lodsemelf]

and why not?

Food prices are going up and people can't buy rice and milk now, but Publix is still posting a 6% profit for the quarter. Are you telling me they shouldn't be making this kind of money too? Target made 5.5% profit. Shell Oil made a 7.1%. Since when in this country does making 10% profit in a quarter make you a criminal? Last time I checked consumers had a choice in what gas they bought. If you don't like Exxon go somewhere else, or better yet change your lifestyle so that oil companies don't make this much money.

Yeah, $4 gas sucks, but its here to stay so deal with it. I'm moving in 3 weeks to be 2 blocks from work so I can walk to work and not have to keep filling up with 93 every week and a half. TBH, $4 gas is exactly what this country needs if we're going to curb the retarded habits of a culture which doesn't care about the amount of energy they use and loves the SUV as a means of transporting their 1 kid to soccer practice.

Your response strikes of ignorance. How could you possibly compare publix to oil? The rise in food price is hardly equivalent to that of oil. Can you buy gas with food stamps? What about truckers who are going out of business because of high oil prices? Did you know that part of the raise in food price is due to the cost of gasonline? It's not a simple "life style" change when so many jobs depend on it. [thumbdown]

[Drugsonl]

I kind of see both sides to the whole thing. My dad is a geologist for shell and I ask him about environmental questions and why gas companies get ridiculously high profits and a lot of it makes sense, but of course, there is always fat to be cut.

A lot of the money goes to research and development because it cost a TON of money to run a oil rig and especially drilling oil in deeper and deeper oceans. A lot of the prices are Dependant on OPEC too.

It's easier to point fingers but while some of it may be justified, there is usually a larger picture in the problem

[QEoMi752]

Do you think a company that gets taxed more is really going to pay for it? They will just pass the cost of a tax increase to the customer like all companies do. So instead of $4 a gallon it will be $5. The old democratic / liberal idea of taxing "The Rich" is just a joke because these companies will just pass the cost to us the consumer and we will be the ones getting screwed again.

I hear ya. The Republican method of Tax breaks for Millionaires coupled with increased spending has done wonders for our economy the last 7 years [rolleyes]

[NaMbessemab]

While on the whole rising fuel prices suck. It's going to push the little guy to come up with a technology that is cheaper and possibly have less impact on the environment.

I hardly ever use my car now as I've switched to using public transport to save me money. This is mostly due to the fact I moved to Melbourne and the cost of driving and running a car goes through the roof! Toll ways, congestion that wastes lots of fuel, expensive parking. I used to be a very heavy car user but I simply can't afford to run about in my car as I used to.

[poekfpojoibien]

I hear ya. The Republican method of Tax breaks for Millionaires coupled with increased spending has done wonders for our economy the last 7 years [rolleyes]

You think it's going to be any different with a democrat? [rolleyes]

[hrthwhr]

meh, a great deal of the profit is due to the dollar being so weak. If our currency was at the strength it was in 2000, a barrel of oil would be in the $60-$65 range, thus cutting thier profits almost in half. There are a lot of things you can blame on Big Oil, but the weakness of the dollar is not one of them. Actually, big oil (oil is for the most part bought with dollars) is one of the reasons the dollar hasn't fallen farther, faster.

[OQmYckYz]

and why not?

Food prices are going up and people can't buy rice and milk now, but Publix is still posting a 6% profit for the quarter. Are you telling me they shouldn't be making this kind of money too? Target made 5.5% profit. Shell Oil made a 7.1%. Since when in this country does making 10% profit in a quarter make you a criminal? Last time I checked consumers had a choice in what gas they bought. If you don't like Exxon go somewhere else, or better yet change your lifestyle so that oil companies don't make this much money.

Yeah, $4 gas sucks, but its here to stay so deal with it. I'm moving in 3 weeks to be 2 blocks from work so I can walk to work and not have to keep filling up with 93 every week and a half. TBH, $4 gas is exactly what this country needs if we're going to curb the retarded habits of a culture which doesn't care about the amount of energy they use and loves the SUV as a means of transporting their 1 kid to soccer practice.

Pretty much the most ignorant thing i've read lately, way to actually care and just get bulldozed over by the political and corporate BS that seemingly some people just like to roll along with. You're just another tool to them so they can make you think that $4-5 gas is the "norm" and that this is really what "the country needs". Then when suddenly they drop the prince to $3 again, gas will be "cheap" [rolleyes]. They'll drive this economy into the ground is what will happen.

Your response strikes of ignorance. How could you possibly compare publix to oil? The rise in food price is hardly equivalent to that of oil. Can you buy gas with food stamps? What about truckers who are going out of business because of high oil prices? Did you know that part of the raise in food price is due to the cost of gasonline? It's not a simple "life style" change when so many jobs depend on it. [thumbdown]

I couldn't agree more.

While on the whole rising fuel prices suck. It's going to push the little guy to come up with a technology that is cheaper and possibly have less impact on the environment.

I hardly ever use my car now as I've switched to using public transport to save me money. This is mostly due to the fact I moved to Melbourne and the cost of driving and running a car goes through the roof! Toll ways, congestion that wastes lots of fuel, expensive parking. I used to be a very heavy car user but I simply can't afford to run about in my car as I used to.

Im getting really sick of this "less impact on the environment" bullshit because its all just an overused, overplayed political term to make society feel better about themselves when in fact its doing absolutely nothing. Major corporations, state, and federal powers will just play into this to win the general American consensus that this is good and what is needed for change that wont ever come.

I dont have the money for a new car, new technology, new anything. I'm in college, I have a job too, the economy is in steady decline whether people choose to blind about it or not is their issue, but the fact is the economy is taking its toll on our daily lives. Gas prices rise, its harder to travel to needed places, food prices increase, needed supplies increase in price, soon inflation will just overrun any chance for our system to stabilize once again.

But its all okay, as long as we have the masterminds out there to design us newer, "better" cars for us to spend money on, we'll be okay. [rolleyes]

[hrthwhr]

But its all okay, as long as we have the masterminds out there to design us newer, "better" cars for us to spend money on, we'll be okay. [rolleyes]

you could blame the american auto industry for building such inefficient cars even after the '79 oil crisis. This is a hole we have dug ourselves into, and though most of the price increase we are seeing now is because of mismanagment of the $, our inefficiency, governments lack of foresight in legistlating better fuel economy puts us in a worse spot than we would be if the auto industry had been forward thinking.

[Abnorbprootly]

When an economy is taking a hit and jobs are being lost due to soaring gas prices, yes, it is indeed worse for oil companies to make this kind of money.

oil companies are making on average 6 to 8 cents per gallon profit. they are also paying for teh exploration equipnet and manpower to obtain this stuff. and transport as well. granted i own some oil stock,and a fe win my family are accountants for exxon mobil, but if otehrs, like many in government who want to tax tehm again and again, if they want to shoulder some of teh production costs, tehn im sure, they would preolly be willing to give up some of this profit.

[Abnorbprootly]

You think it's going to be any different with a democrat? [rolleyes]

nope. government. FTW LOL they prey on the feeble minded

[mirzaterak]

Considering their net revenue for the quarter was 116,642.00 Billion,

See that's scary $116.6 Trillion dollars in revenue in one quarter! That's greater that the entire world GDP, that's when things are getting out of hand

[retTreftowhexm]

[QUOTE=ricanpimp;889058]and why not?

Food prices are going up and people can't buy rice and milk now, but Publix is still posting a 6% profit for the quarter. Are you telling me they shouldn't be making this kind of money too? Target made 5.5% profit. Shell Oil made a 7.1%. Since when in this country does making 10% profit in a quarter make you a criminal? Last time I checked consumers had a choice in what gas they bought. If you don't like Exxon go somewhere else, or better yet change your lifestyle so that oil companies don't make this much money.
[QUOTE]

The only reason why food and other good are going up is because oil is going up. The only reason why companies profits are up is because those costs are up.

It's not hard to figure out. Businesses not effected by gas are down or closing shop, and people are affording less and less because everything else that requires gas/oil to manufactor or use is through the roof.

Of course a lot of this doesn't help because the dollar is so weak. I guarentee you if that dollar was were it was before this...gas would be a full $1 cheaper overall.