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Something just does not add up for the consumer. Gas prices are high, and Exxon is reporting massive profits.


Exxon Mobil posts biggest US quarterly profit ever

http://news.yahoo.com/s/ap/20081030/ap_on_bi_ge/earns_exxon_mobil;_ylt=AkGqIYqf9Vq0Od8imdqExvms0NUE

HOUSTON – Exxon Mobil Corp., the world's largest publicly traded oil company, reported income Thursday that shattered its own record for the biggest profit from operations by a U.S. corporation, earning $14.83 billion in the third quarter.

Bolstered by this summer's record crude prices, the Irving, Texas-based company said net income jumped nearly 58 percent to $2.86 a share in the July-September period. That compares with $9.41 billion, or $1.70 a share, a year ago.

The previous record for U.S. corporate profit was set in the last quarter, when Exxon Mobil earned $11.68 billion.

Revenue rose 35 percent to $137.7 billion.

On average, analysts expected the company to earn $2.39 per share in the latest quarter on revenue of $131.4 billion.
 

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dont worry KEV, gas prices are coming down to $2.00 a gallon, so you can forget all about it everything is fine. the american people can go back to sleep. dont even think about the fact that the price of a barrel is going to be $50 only to bankrupt the middle east, not make americans happy. indonesia and russia will be the new oil giants of the world, and we will still be dependent on foreign oil.
 

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Nobody seems to remember that from the Reagan administration through the Clinton years the oil companies were losing money-- a LOT of money. No one offered them a bailout, or even a sympathetic word, but as soon as they turn a profit, the whiners start in about 'Mean ol' Evul Big Oil' exercising the might of Capitalism.

For a self described supporter of the Libertarian Party, I am shocked and dismayed that Kev is completely abandoning libertarian principals in this way.
 

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Say no to NWO PLEASE!
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The speculators is what drives the price of oil up, and there is more too it than the price of oil, price of gas, and a couple countries. Tax breaks, funding of puppets etc.
 

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yeah budget the oil companies LOST money for 16 years or more. they were just doing it for charity, to help out the american people. we can probly get you back onto your turnip truck being as how you just fell outta it yesterday. it cant be too far away.

overlord, that speculator crap is nonsense, only a very small part of it, its just what they feed the sheeple on t.v. dont believe the hype!
 

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Information is Ammunition
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some of you may remember i predicted this back earlier this summer. I'm NOT gonna go dig it up though. Gas prices always come down preceeding an election in attempt to keep the incumbent- or incumbent's party in office
 

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I help enlighten folks
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some of you may remember i predicted this back earlier this summer. I'm NOT gonna go dig it up though. Gas prices always come down preceeding an election in attempt to keep the incumbent- or incumbent's party in office
yep, this low gas price is the gift of the oil companies to McCain.
Doesn't seem to be working.
 

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Say no to NWO PLEASE!
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So you're telling me that oil shedding 50% of it's worth in 4 months is not just speculation? I know it usage is falling so the price should fall, but I'm still sceptical.
 

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So you're telling me that oil shedding 50% of it's worth in 4 months is not just speculation? I know it usage is falling so the price should fall, but I'm still sceptical.
partly, but theres so much more to it. in simplest terms, its totally manipulated. just like the stock market. just like food production, like national and global economies.
 

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Inglourious Basterd
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that speculator crap is nonsense, only a very small part of it, its just what they feed the sheeple on t.v. dont believe the hype!
Oil prices have fell from $150+ per barrel down to $60 per barrel in 6 months time , co-insiding with the collapse of the stock(speculation)market. Oh that can't possibly be speculation! ,"it's all about supply and demand " ,right? LOL
 

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Inglourious Basterd
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Exxon made 14 billion in 1 quarter, well that is how capitalistic "conservatives" want it. Give to the rich take from the middle class.
 

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trixie said:
yeah budget the oil companies LOST money for 16 years or more.
For many years through the 80s and 90s, the oil companies did just that. Apparently you are buying the Obamunist line about the "EVUL RICH".
trixie said:
they were just doing it for charity, to help out the american people.
It's obvious you do not understand business. Please ask your Principal if you can repeat the Seventh Grade.
trixie said:
we can probly get you back onto your turnip truck being as how you just fell outta it yesterday. it cant be too far away.
No argument, no substance, just a retarded back-hand insult. Make that the Sixth Grade you need to repeat.

Exxon made 14 billion in 1 quarter, well that is how capitalistic "conservatives" want it.
Damn skippy that's how we want it. Mazal tov, says I! I hope next quarter they make twice as much.

Why do you hate the idea of a company making a profit? Should all companies be required to simply meet their expenses, and then give all the rest to the goobermint?
 

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If speculators drove the price of oil up then i guess they must all be broke now because they were contracting for oit that is priced way above what it can sell for now.

as for "fxjohn" and his silly theory that gas prices have something to do with mccain
go back to kindergarten.
 

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I know there is some that are older then me on here and others younger, I just want to go back to being 16 again .88 a gallon gas.
 

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Inglourious Basterd
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Not to worry,they will shoot right back up after the election.
Yes it will ,and somehow it will all be Obama's fault. Oil prices went from $25 per barrel in 2000 to $150 in june of 2008 ,and all you "conservatives " kept saying--- "it's not Bush's fault oil prices are high" --- "the president doesn't control oil prices". So just remember THAT 6 months from now,when oil goes back up . Remember what you've ALL said until now . "THE PRESIDENT DOES NOT CONTROL OIL PRICES."
 

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Say no to NWO PLEASE!
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Those who control the president control oil prices.

Yes it will ,and somehow it will all be Obama's fault. Oil prices went from $25 per barrel in 2000 to $150 in june of 2008 ,and all you "conservatives " kept saying--- "it's not Bush's fault oil prices are high" --- "the president doesn't control oil prices". So just remember THAT 6 months from now,when oil goes back up . Remember what you've ALL said until now . "THE PRESIDENT DOES NOT CONTROL OIL PRICES."
 

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I help enlighten folks
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If speculators drove the price of oil up then i guess they must all be broke now because they were contracting for oit that is priced way above what it can sell for now.

as for "fxjohn" and his silly theory that gas prices have something to do with mccain
go back to kindergarten.

How would they pull off a fuel-price drop? Bush's stance on Iran and other foreign policy matters can certainly move oil markets, and so can decisions affecting the oil levels in the nation's Strategic Petroleum Reserve. And there is the Bush family's close relationship with the royal family of Saudi Arabia, the world's largest oil producer and the most powerful member of the Organization of the Petroleum Exporting Countries.
 

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Inglourious Basterd
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Why do you hate the idea of a company making a profit? Should all companies be required to simply meet their expenses, and then give all the rest to the goobermint?
If you can't see what the oil companies have done to perpetuate our sinking economy ,then you are just blind. Prices of airline tickets went up to off set fuel prices, middleclass Americans are spending $80 to fill their gas tank, Shipping of all consumer products went up to off set their fuel cost. Semi drivers and trucking companies are going bankrupt because they can't afford fuel,the auto industry is falling apart and the list goes on.

We are not talking about Coke vs. Pepsi or G.M. vs. Ford. Yes companies have the right/need to make profits. But our country runs on oil,we are at thr mercy of the oil industry and they have done a major raping of the American people.Until alternative fuels are made available ,on a grand scale ,we will continue to suffer.
 
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