Exxon Profits

[Mookie4ever]

I'm sure that we've all heard of Exxon's record breaking quarter. $10.7 Billion profit in 3 months.

I found this interesting - this works out to $1,100 per second for those 3 months.

According to Forbes magazine, in 2003 all of the MLB franchises were together worth $8.8 Billion LINK. So Exxon could have purchased every MLB team and still had about $2Billion in change using just their profints from 3 months.

Damn I wish I had some Exxon stock.

[3 run homer]

I wonder how much George W is getting?
That really sucks, paying over 3 bucks a gallon a month ago and now prices are creeping back up. This is just so bogus. Insurance companyies and gas companies can all just disappear for all I care.

[bleach168]

"Capitalism is the astounding belief that the most wickedest of men will do the most wickedest of things for the greatest good of everyone." - John Maynard Keynes

[Phatferd]

I wonder how much George W is getting?
That really sucks, paying over 3 bucks a gallon a month ago and now prices are creeping back up. This is just so bogus. Insurance companyies and gas companies can all just disappear for all I care.

They don't inflate prices to increase profits. Oil is so expensive right now that they have to charge that much!!! *sarcasm*

I love all these people who claim gas prices aren't higher than they need to be. I understand supply and demand, however, I fall under the crowd who believes gas is basically a utility.

[Big Pimpin]

I mean come on, it sounds like (and is) a lot of money. But you're talking about a trillion dollar industry. $10.7B in a quarter is not really that big of a profit if you look at it as a percentage of revenues.

There are plenty of other industries making bigger profits. It's just fun to bash the big bad oil companies and their huge dollar figure profits...

[JTWood]

I mean come on, it sounds like (and is) a lot of money. But you're talking about a trillion dollar industry. $10.7B in a quarter is not really that big of a profit if you look at it as a percentage of revenues.

There are plenty of other industries making bigger profits. It's just fun to bash the big bad oil companies and their huge dollar figure profits...

Exactly. What is their profit margin? 6%? 7%?

I said it last time this was brought up, and I'll say it again: The publishing company I work for complains if our margins dip below 60%. That means we are flat-out keeping $0.60 of every dollar we earn. The oil companies keep 6 or 7 cents, and they're considered evil.

[RugbyD]

I mean come on, it sounds like (and is) a lot of money. But you're talking about a trillion dollar industry. $10.7B in a quarter is not really that big of a profit if you look at it as a percentage of revenues.

There are plenty of other industries making bigger profits. It's just fun to bash the big bad oil companies and their huge dollar figure profits...

Exactly. What is their profit margin? 6%? 7%?

I said it last time this was brought up, and I'll say it again: The publishing company I work for complains if our margins dip below 60%. That means we are flat-out keeping $0.60 of every dollar we earn. The oil companies keep 6 or 7 cents, and they're considered evil.

Spot on.

Sounds like some people here need to see what life is like if Atlas were to shrug.

[Mookie4ever]

All I'm saying is that I wish I owned some of their stock.

I guess anyone with mutual funds in their retirement fund owns a piece of this company b/c it's so widely held.

I guess you can look at it as a redistribution of wealth. Kinda.

[RugbyD]

All I'm saying is that I wish I owned some of their stock.

I guess anyone with mutual funds in their retirement fund owns a piece of this company b/c it's so widely held.

I guess you can look at it as a redistribution of wealth. Kinda.

wasn't referring to you. didn't mean to imply such.

[Madison]

I'd like to have had Exxon stock. I'd also like to have TXU stock after the 33% rate increase in electric bills in the last 4 months.