Exxon's record $11.6 B 3 months

[StlSluggers]

i dont know where you are getting this figure. it has routinely been reported that their profit margin is somewhere around 9%.

JT posted it on page 39:

"For every gallon of gasoline and other products we refined and sold in the United States, we earned about 7 cents," said a statement from Exxon vice president Ken Cohen. "Compare that to the 40 to 60 cents per cents per gallon that went to the government (state and federal) in gasoline taxes."

They played the "poor little us" card and used a number far too small to be believeable, while recording near record profits, and tried to shift the blame on the government. Sad.

And of course it's a percentage. At 7 cents a gallon, we'd have had to start using an incredibly larger amount of gas for them to hit that $11 billion. Roughly double the gas we've been using, and that didn't happen. So yes, of course they make a much larger percentage than 1.75. That's what I've been saying.

Oil companies sell more than just gasoline. Oil goes into a lot of things.

And to calculate their margin, you'd have to know their cost. The cost to the oil companies is not the cost you pay at the pump, because that includes taxes and the cut for the station (and maybe more, I don't know). Assuming wr's 9% is right, and their $0.07 figure is correct, then their cost per gallon is $0.78(ish). I've never heard 9%, myself. I've always heard that the gasoline industry was an extraordinarily low margin field, in the neighborhood of 3%. If that's correct, their cost per gallon is $2.33(ish), which fits fairly well with today's gas prices.

That's all off-the-cuff and based on nothing more than my recollection, so take that for what it is.

[wrveres]

so wr found a way to make this a political thread? nice job once again

i didn't read the whole thread of course, but if i had to guess, it's 40 pages of bashing an American corporation, of bashing American innovation, and 40 pages bashing well paying American jobs. Its probably 40 pages of bashing the holy grail of taxes that allows Neato to feed and clothe the lazy, and for me to build bad ass bombers that you cant even see. Heck, the America you know and love today would not exist if it wasn't for standard oil. You cant escape oil. You couldn't if you tried. Its probably touching you right now in one way or another.

So It's probably best to quit bashing and create a plan. currently, we have nothing. nothing short term, and nothing long term other than 1600's technology, windmills.
Yep that'll power those high speed trains

Think about that for a minute. windmills have been around for 400-500 years?? i don't know and i am not going to look it up. they have been around for a long while. the world has been trying to answer to energy question since the industrial revolution began over a hundred years ago ... If friggin Windmills were the answer, the county would be littered with them right now. some Rockefeller would have them things in every back yard, sitting next to the wind chimes ...

We need a real plan. it will involve oil, whether you like it or not. Personally, i'd prefer it be an American company, paying American taxes, using American innovation, and employing Americans, versus buying it from state run oil companies like Brazil, Mexico and Venezuela ...

but apparently, thats just me.


sorry for the rant. blame johnny effing venters.

[Metroid]

[Madison]

i suggest you stick to bowling. no one anywhere, other than you, has suggested that the companies profit margin is 1.75%. Exxon does much, much, more than refine gasoline.

It's called math WR. JT's quote says:

For every gallon of gasoline and other products we refined and sold in the United States, we earned about 7 cents,

So if gas is $4.00 per gallon and they are making 7 cents per gallon, that's a 1.75% profit margin. Simple math, I didn't pull 1.75% out of thin air, I'm going by what they said. And I am refuting their statement as untrue, which you agree with since you said they make around 9% (so I have no idea what you're arguing about, we agree that they make more than what they say they make). Exxon is saying they have a 1.75% profit margin on gas, not me. I am saying they make much more than that per gallon and they are lying to us in order to not look like the crooks that they are.

[Neato Torpedo]

Think about that for a minute. windmills have been around for 400-500 years?? i don't know and i am not going to look it up. they have been around for a long while. the world has been trying to answer to energy question since the industrial revolution began over a hundred years ago ... If friggin Windmills were the answer, the county would be littered with them right now. some Rockefeller would have them things in every back yard, sitting next to the wind chimes ...

That's terrible logic. That's like saying "all the cool kids smoke cigarettes, therefore cigarettes are cool" or "Obama's president, therefore America loves Democrats" or "McDonald's must be healthy because everyone eats it". Oil is nice because it's cheap and easy to work with right now, but it's also nonrenewable, nasty for the environment, and about to become expensive. When we run out of our available oil reserves and have to spend billions of dollars to extract oil from shale (which is very expensive and horrendously inefficient, not to mention about as dirty as coal), you can count on gasoline upwards of $15 a gallon. Plus, literally everything will be more expensive because transportation costs will be through the roof, as will the production costs of any petroleum-based product.

We need a real plan. it will involve oil, whether you like it or not. Personally, i'd prefer it be an American company, paying American taxes, using American innovation, and employing Americans, versus buying it from state run oil companies like Brazil, Mexico and Venezuela ...

Yep, it will have to involve oil. But the role of oil will have to be dramatically reduced. At the very least, we need to build more nuclear power plants and create/enforce laws requiring the reprocessing of nuclear fuel. And the purpose of all this would be to provide a stopgap allowing for time to develop cheap and renewable energy, most notably solar. That way, we can hold on to our petroleum products for a few more decades without watching prices skyrocket. There's not much innovation to be had in oil anymore, anyway; ingenuity only matters when we're talking about new things. That's why I'm changing my major from biochemistry to physical chemistry, so I can work with a couple of my professors on solar energy research and hopefully get into a career that helps solve our oil dependency.

[StlSluggers]

i suggest you stick to bowling. no one anywhere, other than you, has suggested that the companies profit margin is 1.75%. Exxon does much, much, more than refine gasoline.

It's called math WR. JT's quote says:

For every gallon of gasoline and other products we refined and sold in the United States, we earned about 7 cents,

So if gas is $4.00 per gallon and they are making 7 cents per gallon, that's a 1.75% profit margin. Simple math, I didn't pull 1.75% out of thin air, I'm going by what they said. And I am refuting their statement as untrue, which you agree with since you said they make around 9% (so I have no idea what you're arguing about, we agree that they make more than what they say they make). Exxon is saying they have a 1.75% profit margin on gas, not me. I am saying they make much more than that per gallon and they are lying to us in order to not look like the crooks that they are.

Your denominator is wrong, Madison. See my last post.

[raiders_umpire]

i suggest you stick to bowling. no one anywhere, other than you, has suggested that the companies profit margin is 1.75%. Exxon does much, much, more than refine gasoline.

It's called math WR. JT's quote says:

For every gallon of gasoline and other products we refined and sold in the United States, we earned about 7 cents,

So if gas is $4.00 per gallon and they are making 7 cents per gallon, that's a 1.75% profit margin.

[Madison]

i suggest you stick to bowling. no one anywhere, other than you, has suggested that the companies profit margin is 1.75%. Exxon does much, much, more than refine gasoline.

It's called math WR. JT's quote says:

For every gallon of gasoline and other products we refined and sold in the United States, we earned about 7 cents,

So if gas is $4.00 per gallon and they are making 7 cents per gallon, that's a 1.75% profit margin. Simple math, I didn't pull 1.75% out of thin air, I'm going by what they said. And I am refuting their statement as untrue, which you agree with since you said they make around 9% (so I have no idea what you're arguing about, we agree that they make more than what they say they make). Exxon is saying they have a 1.75% profit margin on gas, not me. I am saying they make much more than that per gallon and they are lying to us in order to not look like the crooks that they are.

Your denominator is wrong, Madison. See my last post.

I read your last post on it, but this is really simple. A 7 cent profit on a $4 item is a profit of 1.75%. Pull up any calculator and multiply 4.00 by 1.75% and you will get 0.07. Not sure why that is confusing people.

Now if they are making 9% like WR says, then they would be making 36 cents profit per gallon, which is a very large difference from the 7 cents they are claiming they make.

[bleach168]

Think about that for a minute. windmills have been around for 400-500 years?? i don't know and i am not going to look it up. they have been around for a long while. the world has been trying to answer to energy question since the industrial revolution began over a hundred years ago ... If friggin Windmills were the answer, the county would be littered with them right now. some Rockefeller would have them things in every back yard, sitting next to the wind chimes ...

That's terrible logic. That's like saying "all the cool kids smoke cigarettes, therefore cigarettes are cool" or "Obama's president, therefore America loves Democrats" or "McDonald's must be healthy because everyone eats it". Oil is nice because it's cheap and easy to work with right now, but it's also nonrenewable, nasty for the environment, and about to become expensive. When we run out of our available oil reserves and have to spend billions of dollars to extract oil from shale (which is very expensive and horrendously inefficient, not to mention about as dirty as coal), you can count on gasoline upwards of $15 a gallon. Plus, literally everything will be more expensive because transportation costs will be through the roof, as will the production costs of any petroleum-based product.

We need a real plan. it will involve oil, whether you like it or not. Personally, i'd prefer it be an American company, paying American taxes, using American innovation, and employing Americans, versus buying it from state run oil companies like Brazil, Mexico and Venezuela ...

Yep, it will have to involve oil. But the role of oil will have to be dramatically reduced. At the very least, we need to build more nuclear power plants and create/enforce laws requiring the reprocessing of nuclear fuel. And the purpose of all this would be to provide a stopgap allowing for time to develop cheap and renewable energy, most notably solar. That way, we can hold on to our petroleum products for a few more decades without watching prices skyrocket. There's not much innovation to be had in oil anymore, anyway; ingenuity only matters when we're talking about new things. That's why I'm changing my major from biochemistry to physical chemistry, so I can work with a couple of my professors on solar energy research and hopefully get into a career that helps solve our oil dependency.

Hey man, we wish you the best of luck.

I agree with the speculators that the price of oil is just going to keep going up and up. $100 a barrel will seem cheap in a decade. The plan we need to employ is to drill less at home and try to survive off foreign oil for as long as we can. It's going to hurt us in the short term, but will pay off in spades when we're the last major oil producer on earth.

[wrveres]

I agree with the speculators that the price of oil is just going to keep going up and up. $100 a barrel will seem cheap in a decade. The plan we need to employ is to drill less at home and try to survive off foreign oil for as long as we can. It's going to hurt us in the short term, but will pay off in spades when we're the last major oil producer on earth.

i love the evil geniusness of that plan, but good luck getting the politicians to go along with it. The problem we have now is elections believe it or not. we spend trillions on energy, and our policy changes every two or four years. The department of energy should be a separate non political type office like the IRS or the GAO. put one person in charge for a term of 10 years, and go from there. At least its a start.