Sponsor Message:
Non Aviation Forum
My Starred Topics | Profile | New Topic | Forum Index | Help | Search 
Exon Earns $10,700,000,000.00 In 4Q  
User currently offlineDc10s4ever From , joined Dec 1969, posts, RR:
Posted (8 years 11 months 3 days 18 hours ago) and read 1555 times:

Well ExonMobile earned a whopping $10.7b in 4th quarter.

http://www.usatoday.com/money/compan...rnings/2006-01-30-exxonmobil_x.htm

36 replies: All unread, showing first 25:
 
User currently offlineBoeing nut From , joined Dec 1969, posts, RR:
Reply 1, posted (8 years 11 months 3 days 18 hours ago) and read 1537 times:

Why am I NOT surprised?  irked 

User currently offlineDc10s4ever From , joined Dec 1969, posts, RR:
Reply 2, posted (8 years 11 months 3 days 17 hours ago) and read 1527 times:

I was just watching CNN, their annual profit was HIGHER than the GNP of several countries. To some extent we only can blame ourselves. A soccer mom does NOT need to be driving around town in a Hummer.

User currently offlineYooYoo From Canada, joined Nov 2003, 6057 posts, RR: 50
Reply 3, posted (8 years 11 months 3 days 17 hours ago) and read 1519 times:

Quoting Dc10s4ever (Thread starter):
Well ExonMobile earned a whopping $10.7b in 4th quarter.

Good for them



I am so smart, i am so smart... S-M-R-T... i mean S-M-A-R-T
User currently offlineBeefstew25 From United States of America, joined Sep 2005, 675 posts, RR: 0
Reply 4, posted (8 years 11 months 3 days 17 hours ago) and read 1514 times:

Does anyone know how much they lost in the eighties?

Lets pile on and bash a company for doing what they are supposed to do: make a profit.

I guess I can make the simple yet true argument. If the profit margin upsets you, buy a nice bike or a comfortable pair of shoes.



MLB: Where you are always number one for takeoff.....
User currently offlineMatt D From United States of America, joined Nov 1999, 9502 posts, RR: 46
Reply 5, posted (8 years 11 months 3 days 17 hours ago) and read 1514 times:

I agree. Good for them. Oil companies: love 'em or hate 'em. No one forced you to be a single person driving a $40,000 car that gets maybe 12 mpg to drive an 80 mile suburban commute. Or get into hock to the tune of fifty grand because you just had to have that plasma TV, the state of the art cell phones, the designer clothes, the landscaped yard, eating out every night, and just overall living beyond your means.

And for those who say that even a $.05 increase in gas prices will, for some people mean the difference between eating or not eating, all I can say is:

you shouldn't have had so many kids or gotten yourself in debt.

Say what you want about gas prices: As long as people continue paying them, there is no reason to expect them to come down.


User currently offlineSlider From United States of America, joined Feb 2004, 6924 posts, RR: 34
Reply 6, posted (8 years 11 months 3 days 17 hours ago) and read 1492 times:

The black gold stranglehold continues....

No new refineries will be built because increasing supply would be bad for profits. As long as they keep the politicians in their back pocket--which looks like a safe bet, nothing will change.

I don't begrudge any company for being profitable and don't like playing the class envy card, but I DO have a problem with rapacious capitalism, and that's what this is.


User currently offlineErikwilliam From Brazil, joined Mar 2004, 2152 posts, RR: 11
Reply 7, posted (8 years 11 months 3 days 17 hours ago) and read 1472 times:

The high oil price had to be good for at least someone, or it would make no sense at all.

Quoting YooYoo (Reply 3):
Good for them

nop, good for the share holders.



Dida, Cafu, Lucio, Roque Junior, Roberto Carlo, Emerson, Ze Roberto, Ronaldinho, Kaka, Adriano, Robinho, Ronaldo
User currently offlinePope From , joined Dec 1969, posts, RR:
Reply 8, posted (8 years 11 months 3 days 17 hours ago) and read 1465 times:

Quoting Matt D (Reply 5):
you shouldn't have had so many kids or gotten yourself in debt.

 checkmark   checkmark   checkmark   checkmark 

Your rights end when you stick your hand in my wallet.


User currently offlineKohflot From , joined Dec 1969, posts, RR:
Reply 9, posted (8 years 11 months 3 days 16 hours ago) and read 1454 times:

According to the Yahoo article I just read, their annual profit (over $36 billion) is larger than the economies of 125 nations around the world.

The issue (for me anyway) is not the fact that they've made this money.. as I said after their last earnings announcement, there are just too many problems in the world that could be nearly solved if they were to donate just *a tenth* of what they earned.

Imagine what $3.6 billion would do for hunger, for access to clean water, for vaccinations, for endangered species, for education, for medical research, or for Katrina victims.

Unfortunately, we live in a time when money is apparently more important than life itself.


User currently offlineStuckinMAF From , joined Dec 1969, posts, RR:
Reply 10, posted (8 years 11 months 3 days 16 hours ago) and read 1449 times:

I agree completely, good to them for making a profit! And I already know I will take a lot of heat from the lefties because I am in oil country, that apparently makes me an accomplice.

User currently offlineArmitageShanks From UK - England, joined Dec 2003, 3649 posts, RR: 15
Reply 11, posted (8 years 11 months 3 days 16 hours ago) and read 1444 times:

Quoting YooYoo (Reply 3):
Quoting Dc10s4ever (Thread starter):
Well ExonMobile earned a whopping $10.7b in 4th quarter.

Good for them

Ditto.


User currently offlineBoeing nut From , joined Dec 1969, posts, RR:
Reply 12, posted (8 years 11 months 3 days 16 hours ago) and read 1441 times:

Quoting Matt D (Reply 5):
I agree. Good for them. Oil companies: love 'em or hate 'em. No one forced you to be a single person driving a $40,000 car that gets maybe 12 mpg to drive an 80 mile suburban commute. Or get into hock to the tune of fifty grand because you just had to have that plasma TV, the state of the art cell phones, the designer clothes, the landscaped yard, eating out every night, and just overall living beyond your means.

And for those who say that even a $.05 increase in gas prices will, for some people mean the difference between eating or not eating, all I can say is:

you shouldn't have had so many kids or gotten yourself in debt.

Say what you want about gas prices: As long as people continue paying them, there is no reason to expect them to come down.

As much as I hate the fact that they made so much for the wrong reasons, there isn't a damned thing I could say to argue this statement.  checkmark 


User currently offlinePope From , joined Dec 1969, posts, RR:
Reply 13, posted (8 years 11 months 3 days 16 hours ago) and read 1417 times:

Quoting Kohflot (Reply 9):
Imagine what $3.6 billion would do for hunger, for access to clean water, for vaccinations, for endangered species, for education, for medical research, or for Katrina victims.

But one has nothing to do with the other.

Exxon's profits didn't cause hunger, didn't deprive people of clean water, didn't deny anyone vaccination and didn't cause Katrina. 3.6 Billion dollars could also go to stopping the spread of AIDS, funding cancer research or supporting orphans.

There are literally thousands of worthy ways to spend $3.6B, but that not what Exxon's board of directors gets paid to do. They get paid to look after the interest of their shareholders.

Companies are entitled to make money. The best way to fund all the worthy causes you list above is for shareholders to get distributions from the company and then choose to suppor the causes they select. It should not be the role of a government in a capitalist economy to arbitrarily draw the line and penalize companies for being successful.

Best I know, Exxon complied with a myriad of laws in earning these profits, they should benefit from that.


User currently offlineL-188 From United States of America, joined Jul 1999, 29840 posts, RR: 58
Reply 14, posted (8 years 11 months 3 days 15 hours ago) and read 1411 times:

And they still are pissing and moaning about that 4.5 billion dollar punitive damages award that the courts ordered to Alaskan Fishermen impacted by the Exxon Valdez.

Just a week ago they appealed again trying to get it reduced to 40 million I think.



OBAMA-WORST PRESIDENT EVER....Even SKOORB would be better.
User currently offlineBeefstew25 From United States of America, joined Sep 2005, 675 posts, RR: 0
Reply 15, posted (8 years 11 months 3 days 14 hours ago) and read 1365 times:

Quoting Kohflot (Reply 9):
if they were to donate just *a tenth* of what they earned.

They did...it is called a 40% tax rate. The more they make, the more taxes they pay.

People like you that enjoy to loot from others (or as some call it: redistribution of wealth) need to look in the mirror....Will you donate 10% of your gross profits this year, on top of your taxes?



MLB: Where you are always number one for takeoff.....
User currently offlineSlider From United States of America, joined Feb 2004, 6924 posts, RR: 34
Reply 16, posted (8 years 11 months 3 days 14 hours ago) and read 1356 times:

Quoting Pope (Reply 13):
It should not be the role of a government in a capitalist economy to arbitrarily draw the line and penalize companies for being successful.

This is true, but where my von Mises economic leanings stop is where I intellectually realize that their profits are made at the expense of an artificially created shortage vis a vis constrained refining capacity, irrational market behavior (oil futures), and they exploit it to the fullest extent.

I freely admit my bias as an airline employee here, as well...


User currently offlinePope From , joined Dec 1969, posts, RR:
Reply 17, posted (8 years 11 months 3 days 14 hours ago) and read 1346 times:

Quoting Slider (Reply 16):
This is true, but where my von Mises economic leanings stop is where I intellectually realize that their profits are made at the expense of an artificially created shortage vis a vis constrained refining capacity, irrational market behavior (oil futures), and they exploit it to the fullest extent.

I freely admit my bias as an airline employee here, as well...

How were the shortages "artificially" created? Did the Hurricanes (Katrina and Rita) not shut down 1/3 of US oil production? Did these storms not take off line almost 50% of US refinery capacity? Did demand fall during this period?

Who participates in the oil future markets? Are you advocating that the future markets be regulated to prevent speculation?


User currently offlineMD80fanatic From United States of America, joined Apr 2004, 2662 posts, RR: 9
Reply 18, posted (8 years 11 months 3 days 14 hours ago) and read 1346 times:

Now you know who to blame when your wonderful airline job vanishes.

Next time, don't vote for freaking oilmen (and women) for office, okay.


User currently offlineMaverickM11 From United States of America, joined Apr 2000, 17829 posts, RR: 46
Reply 19, posted (8 years 11 months 3 days 14 hours ago) and read 1334 times:

Quoting MD80fanatic (Reply 18):
Now you know who to blame when your wonderful airline job vanishes.

Jetblue has had higher profit margins than Exxon, what can I blame jetBlue for?



E pur si muove -Galileo
User currently offlineSlider From United States of America, joined Feb 2004, 6924 posts, RR: 34
Reply 20, posted (8 years 11 months 3 days 13 hours ago) and read 1304 times:

Quoting Pope (Reply 17):
How were the shortages "artificially" created?

The fact that there hasn't been a new refinery built in the US in almost 30 years tells you everything you need to know. That fact alone is a greater bottleneck than any of the events that occasion them (hurricanes, etc).

Quoting Pope (Reply 17):
Are you advocating that the future markets be regulated to prevent speculation?

Not at all.

I'm not advocating anything really...I'm honestly perplexed about what solutions exist. Mike Boyd made several good comments about this in his most recent column today (www.aviationplanning.com).

What I'm saying is that the O&G industry and oil futures flucutate on a far more wild and irrational level than any other. Markets are supposed to be rational, no?

If the true economics of the matter dictated such high prices, and the supply/demand equation required it, I'd be fine with their profits. But their actions are rapacious, plain and simple.

Someone in the Middle East hiccups, and the prices escalate rapidly and insanely. Yet the reverse is never true--it's a one way ratchet. that's NOT driven by market forces, period.


User currently offlineBoeing Nut From , joined Dec 1969, posts, RR:
Reply 21, posted (8 years 11 months 3 days 13 hours ago) and read 1303 times:

But JetBlue did not make 10.7 billion in profits in the fourth quarter.

User currently offlineMaverickM11 From United States of America, joined Apr 2000, 17829 posts, RR: 46
Reply 22, posted (8 years 11 months 3 days 13 hours ago) and read 1300 times:

Quoting Boeing Nut (Reply 21):
But JetBlue did not make 10.7 billion in profits in the fourth quarter.

You're right, it made MORE money per dollar of revenue than Exxon did this quarter, especially early in its existence.



E pur si muove -Galileo
User currently offlinePope From , joined Dec 1969, posts, RR:
Reply 23, posted (8 years 11 months 3 days 13 hours ago) and read 1295 times:

Quoting Slider (Reply 20):
The fact that there hasn't been a new refinery built in the US in almost 30 years tells you everything you need to know. That fact alone is a greater bottleneck than any of the events that occasion them (hurricanes, etc).

But that shortage isn't created by the oil companies. That issue is a problem of too many NIMBY's and too much state regulation.

Quoting Slider (Reply 20):
Someone in the Middle East hiccups, and the prices escalate rapidly and insanely. Yet the reverse is never true--it's a one way ratchet. that's NOT driven by market forces, period.

The volatility of a commodity who's aggregate global demand is so closely matched to max short term supply is always going to be greater than one where it is possible to quickly adjust output. That's precisely the issue that I think gets ignored when debating the ANWAR issue.

While it is true that drilling in ANWAR would represent between 1% and 5% (depending on whose figures you accept) of global crude demand, it would represent between 4% and 10% of US crude demand. The key is to put a little bit of wiggle room into the mix so that short term hiccups (or even rumors of hiccups) don't cause disruption in the market due to speculation.

The supply and demand balance is so simple but people choose to ignore it in so many situations that it's ridiculous. You've got movie starts going around let crazy trying to keep paparazzi from taking pictures of their children. The photographers are chasing them because everyone want to be the first one to sell a picture of the celeb with their newborn. The market demand for that picture is so high that the price skyrockets.

If the celeb simply published their own pictures of the child, the demand for that "first" picture of the kid would disappear, the price a publisher would pay for it would fall and at lot less photographers would be chasing that picture.


User currently offlineKohflot From , joined Dec 1969, posts, RR:
Reply 24, posted (8 years 11 months 3 days 13 hours ago) and read 1290 times:

Quoting Pope (Reply 13):
There are literally thousands of worthy ways to spend $3.6B, but that not what Exxon's board of directors gets paid to do. They get paid to look after the interest of their shareholders.

Which exactly conforms to my last point. We've become a culture that believes in the almighty power of money. Nothing else touches it, not even suffering.


25 Post contains images ORFflyer : Good for both groups. They are not a non-profit orgainization. They are in business to make money. The Jetblue example is excellant, they are making
26 MD80fanatic : You can play creative math all day, no problem. Airline flight is not a commodity, it's a privilege. I have a great idea!!!! Keep buying those huge S
27 MaverickM11 : It's not creative at all; it's comparing apples to apples, ie the profit generated per dollar of revenue.
28 Prebennorholm : One of the problems which is going to be solved first is rebuilding over the next couple of years of the destroyed and damaged oil rigs in the Gulf.
29 Post contains images Prebennorholm : Dear L-188, this must be seen in a bigger picture. Exxon has already benefited enormously from this completely out of hand slap in their face. It has
30 MD80fanatic : No it is not apples to apples. Oil is something we must purchase, like food. It is a commodity. If Del Monte made the same profit margin selling appl
31 Bushpilot : That is the capitalist way, sometimes it sucks, but that is the system most of the world lives under. I agree, the taxes they pay are enough, and unl
32 MaverickM11 : Del Monte had a profit margin of 5% for the twelve months ending in July. However, Alico Inc., a similar business had a profit margin of 11.5%, highe
33 MD-90 : You can't blame the company for Wall Street traders bidding oil futures up and up and up. You also can't blame them for not trying to build a new refi
34 N5176Y : Del Monte doesn't sell apples.
35 EA CO AS : Kindly explain to me what a Democrat president and a Democrat-controlled Congress would or even COULD do to lower the prices of a commodity like oil.
36 DC10GUY : Making a profit is good, A US government backed monopoly is bad... Ask any crippled kid in Iraq.
Top Of Page
Forum Index

This topic is archived and can not be replied to any more.

Printer friendly format

Similar topics:More similar topics...
25,000 Civilians Killed In Iraq posted Tue Jul 19 2005 23:56:07 by Dtwclipper
Up To 4.000 Chinese Troops In Sudan posted Sun Jun 12 2005 14:23:18 by MD11Engineer
Over 100,000 Civilian Deaths In Iraq posted Thu Oct 28 2004 22:29:13 by FLYYUL
58,000 Missing Ballots In Florida posted Thu Oct 28 2004 17:28:43 by Qb001
248,000 New Jobs In May posted Fri Jun 4 2004 15:56:21 by N6376m
Over 6,000 Photos Added In Less Than A Month! posted Sun May 27 2001 09:31:25 by B737-112
40,000 NFL At Wembley Tickets Sell In First 90 Min posted Thu May 17 2007 04:33:48 by LHMARK
Chrysler To Slash 10,000 posted Thu Feb 8 2007 14:09:45 by PanAmOldDC8
Travel Costs US $15 Billion In Taxes, 200,000 Jobs posted Tue Jan 23 2007 21:31:02 by TedTAce
800,000 Privileged Youths Enlist To Fight In Iraq posted Sat Jan 20 2007 00:41:12 by Aaron747