Is anyone else upset over Exxons 41% profit rise?

[Robert]

I know its not only Exxon but if you look at the figures since 02 the profits have soared every year. In a  time when most are just concerned with holding steady much less loosing.
http://www.nytimes.com/2008/08/01/business/01oil.html

[..]

The web page is nearly 3 years old?

[bigguy]

Here's a more recent one.

Gas prices drive Exxon Mobil profit up 41%
By Aaron Smith @CNNMoney July 28, 2011: 9:42 AM ET

Hard to imagine how that happens with the onerous tax burden, government over-site, and environmental regulations the poor things have to contend with. It's a real shame they were limited to 125 and-a-half Billion in profits.

"But Exxon Mobil topped revenue estimates, reporting $125.5 billion compared to the Thomson Reuters forecast of $121 billion."

Let's all hold our breath a see how many extra jobs that surprise 4 and-a-half Billion in profits generate.

[Varmintmist]

Is anyone else upset over Exxons 41% profit rise?

Nope.

Good for my 401K and pension.

Pretty sure that their profit margin is near 7%, so if it goes up 41% that means that they made 10 cents on a dollar. Woooo hooo

Walmart makes a ton of cash the same way, at 3% margin. The sell a lot.

[old2soon]

I won't complain(was thinking bout the word what rhymes with itch but i be using that TO much lately) IF they give me and my family a life time free of charge gas cards and 2 or 3 million dollars(american)tax free i fer sure won't ( think itch) do er near as loud as before. Yuppers kaka in one hand and wish in the other un-ya'll know the rest of it. RIDE SAFE. oh and as to the original question-not only yes but hell yes.

[The Anvil]

Is anyone else upset over Exxons 41% profit rise?

Nope.

Good for my 401K and pension.

Pretty sure that their profit margin is near 7%, so if it goes up 41% that means that they made 10 cents on a dollar. Woooo hooo

Walmart makes a ton of cash the same way, at 3% margin. The sell a lot.

Um, well sort of. 3% net or gross? I sold wholesale and commodities for many years. There are all kinds of ways to manipulate your margin figure and depending on what you want to do you might go either way.

But people shouldn't really be outraged by the profits. They're pretty gaudy, but we've done that to ourselves by insisting on reliance to fossil fuels when we should have known better. We have no one to blame but ourselves in that respect. What you SHOULD be pissed about is the subsidies they receive.

[czuch]

How about the 80 cent per gallon that goes into the taxhole?
Subsidy elimination would be passed on to us anyway. AND most of that profit goes into R-n-D and looking for oil they cant tap till somebody gets in charge that wants us to feed our Valkyries with American oil.
There now its Valk related and pro American.

[RoadKill]

I'm just as upset about all these retired guys that do nothing productive and just ride around on motorcycles all day burning up all the fossil fuels and stealing all the wal-mart greeter jobs because they are bored and then they just complain about how "when I was a kid people were encouraged to better themselves instead of taxing their neighbors ". The government their generation elected stole their social security money and they want my generation to tax the crap outta any one that bettered themselves to pay for it. Maybe I should just retire too !

[DarkMeister]

That's dismal. We need to give them some more tax breaks and quit hassling them about price-fixing and collusion. Then they will have more to invest in...uhm...yeah. Creating jobs. Research. That's it.

Bastards own us lock, stock and barrel (but the joke is on them, since there is a lien on us by the Chinese).

[The Anvil]

I'm just as upset about all these retired guys that do nothing productive and just ride around on motorcycles all day burning up all the fossil fuels and stealing all the wal-mart greeter jobs

THEY TOOK OUR JOBS!

[ricoman]

I'm just as upset about all these retired guys that do nothing productive and just ride around on motorcycles all day burning up all the fossil fuels and stealing all the wal-mart greeter jobs because they are bored and then they just complain about how "when I was a kid people were encouraged to better themselves instead of taxing their neighbors ". The government their generation elected stole their social security money and they want my generation to tax the crap outta any one that bettered themselves to pay for it. Maybe I should just retire too !

Your immaturity rings through loud and clear.
Have you said that to your mother and father, aunts and uncles, older neighbors, and friends- to their faces?
After you have paid into a retirement fund for 50+ years and people now tell you you should not have it because someone pissed it away and those people don't want any part of the responsibiliy for it-you reflect on how you feel about it, then and only then will you understand and have a valid opinion.
Until then, keep paying in, all us Walmart greeters (the bored and unproductive ones) need our monthly check for gas money. Oh yeah, a little food and electricity too, once in a while.

[RoadKill]

I'm just as upset about all these retired guys that do nothing productive and just ride around on motorcycles all day burning up all the fossil fuels and stealing all the wal-mart greeter jobs because they are bored and then they just complain about how "when I was a kid people were encouraged to better themselves instead of taxing their neighbors ". The government their generation elected stole their social security money and they want my generation to tax the crap outta any one that bettered themselves to pay for it. Maybe I should just retire too !

Your immaturity rings through loud and clear.
Have you said that to your mother and father, aunts and uncles, older neighbors, and friends- to their faces?
After you have paid into a retirement fund for 50+ years and people now tell you you should not have it because someone pissed it away and those people don't want any part of the responsibiliy for it-you reflect on how you feel about it, then and only then will you understand and have a valid opinion.
Until then, keep paying in, all us Walmart greeters (the bored and unproductive ones) need our monthly check for gas money. Oh yeah, a little food and electricity too, once in a while.

In all your age and wisdom I think you missed the IRONY ! 

I dont have to say that to "mother and father, aunts and uncles, older neighbors, and friends " because they want what they put in and earned....Not what someone else worked for and they do not feel entitled to some one elses profits.   The elected officials screwed you...NOT EXXON MOBIL !

You were able to retire because you made better choices than others... and now you want to take from those who have done better than yourself?

[MCRIDER]

I know its not only Exxon but if you look at the figures since 02 the profits have soared every year. In a  time when most are just concerned with holding steady much less loosing.
http://www.nytimes.com/2008/08/01/business/01oil.html

You're just upset that YOUR profits weren't up 41%.  Exxon is a corporation that supplies a product that most everyone uses.  Why shouldn't they make a profit?  Just don't buy Exxon if it makes you feel better.

[The Anvil]

I'm just as upset about all these retired guys that do nothing productive and just ride around on motorcycles all day burning up all the fossil fuels and stealing all the wal-mart greeter jobs because they are bored and then they just complain about how "when I was a kid people were encouraged to better themselves instead of taxing their neighbors ". The government their generation elected stole their social security money and they want my generation to tax the crap outta any one that bettered themselves to pay for it. Maybe I should just retire too !

Your immaturity rings through loud and clear.
Have you said that to your mother and father, aunts and uncles, older neighbors, and friends- to their faces?
After you have paid into a retirement fund for 50+ years and people now tell you you should not have it because someone pissed it away and those people don't want any part of the responsibiliy for it-you reflect on how you feel about it, then and only then will you understand and have a valid opinion.
Until then, keep paying in, all us Walmart greeters (the bored and unproductive ones) need our monthly check for gas money. Oh yeah, a little food and electricity too, once in a while.

Rico, while I don't necessarily agree with what RK said, there's some truth in it. Every generation (not just the retired ones though) has been expecting the next one to pick up the tab and then hoping for the best when they retire. To some degree it's ALWAYS gonna be that way.

The problem I have is the grocery list. We've spent way too much on ice cream and Cheesy-Poofs (wars that don't provide us with any tangible benefit, foreign aid to countries that don't appreciate it, propping up businesses that should be allowed to fail etc.) and not enough on meat, bread and vegetables (education, health care and infrastructure) all while the checkout clerk skims cash out of the the till.

[ricoman]

I'm just as upset about all these retired guys that do nothing productive and just ride around on motorcycles all day burning up all the fossil fuels and stealing all the wal-mart greeter jobs because they are bored and then they just complain about how "when I was a kid people were encouraged to better themselves instead of taxing their neighbors ". The government their generation elected stole their social security money and they want my generation to tax the crap outta any one that bettered themselves to pay for it. Maybe I should just retire too !

Your immaturity rings through loud and clear.
Have you said that to your mother and father, aunts and uncles, older neighbors, and friends- to their faces?
After you have paid into a retirement fund for 50+ years and people now tell you you should not have it because someone pissed it away and those people don't want any part of the responsibiliy for it-you reflect on how you feel about it, then and only then will you understand and have a valid opinion.
Until then, keep paying in, all us Walmart greeters (the bored and unproductive ones) need our monthly check for gas money. Oh yeah, a little food and electricity too, once in a while.

In all your age and wisdom I think you missed the IRONY ! 

I dont have to say that to "mother and father, aunts and uncles, older neighbors, and friends " because they want what they put in and earned....Not what someone else worked for and they do not feel entitled to some one elses profits.   The elected officials screwed you...NOT EXXON MOBIL !

You were able to retire because you made better choices than others... and now you want to take from those who have done better than yourself?

Not irony, sarcastic babble-"why do I have to pay for those older than me?" We who are retired now paid for those ahead of us.
Just as we, who have not had kids in school for 20 years or so, keep paying school taxes for those kids in school today. How would you and others your age with kids in school, feel if those ahead of you decided they weren't going to pay school taxes because they no longer had kids of that age and you should not look to them for money?
I do want what I put in and earned-plain and simple. What "I" put in. I want/expect not one damn thing from those who have "done better" than me. We all have/had opportunities. Some take better advantage of them than others. I do not look at anyone as having "done better", only different.
Age does not bring wisdom, as you suggest. Age brings experience. In a few years you may understand.
Now give a call to those older folks in your life and tell them how you feel about their Social Security "entitlement". Bet you can't/won't do it. Better not piss 'em off, they'll quit paying school taxes.

[Jack]

nope 

[Gryphon Rider]

Those who are upset about it, simply sell your gas-guzzling Valkyrie, buy a cool scooter, and use the money left over to BUY EXXON SHARES!  Then you will be happy when you read stories like that!

[czuch]

Always like the rag/hat under the helmet look. No goggles and a smile.
Onna suicycle no less.

[RoadKill]

I'm just as upset about all these retired guys that do nothing productive and just ride around on motorcycles all day burning up all the fossil fuels and stealing all the wal-mart greeter jobs because they are bored and then they just complain about how "when I was a kid people were encouraged to better themselves instead of taxing their neighbors ". The government their generation elected stole their social security money and they want my generation to tax the crap outta any one that bettered themselves to pay for it. Maybe I should just retire too !

Your immaturity rings through loud and clear.
Have you said that to your mother and father, aunts and uncles, older neighbors, and friends- to their faces?
After you have paid into a retirement fund for 50+ years and people now tell you you should not have it because someone pissed it away and those people don't want any part of the responsibiliy for it-you reflect on how you feel about it, then and only then will you understand and have a valid opinion.
Until then, keep paying in, all us Walmart greeters (the bored and unproductive ones) need our monthly check for gas money. Oh yeah, a little food and electricity too, once in a while.

In all your age and wisdom I think you missed the IRONY !  

I dont have to say that to "mother and father, aunts and uncles, older neighbors, and friends " because they want what they put in and earned....Not what someone else worked for and they do not feel entitled to some one elses profits.   The elected officials screwed you...NOT EXXON MOBIL !

You were able to retire because you made better choices than others... and now you want to take from those who have done better than yourself?

Not irony, sarcastic babble-"why do I have to pay for those older than me?" We who are retired now paid for those ahead of us.
Just as we, who have not had kids in school for 20 years or so, keep paying school taxes for those kids in school today. How would you and others your age with kids in school, feel if those ahead of you decided they weren't going to pay school taxes because they no longer had kids of that age and you should not look to them for money?
I do want what I put in and earned-plain and simple. What "I" put in. I want/expect not one damn thing from those who have "done better" than me. We all have/had opportunities. Some take better advantage of them than others. I do not look at anyone as having "done better", only different.
Age does not bring wisdom, as you suggest. Age brings experience. In a few years you may understand.
Now give a call to those older folks in your life and tell them how you feel about their Social Security "entitlement". Bet you can't/won't do it. Better not piss 'em off, they'll quit paying school taxes.

I do not have children and have ALWAYS paid for every one elses brats !

I never said you did not deserve your S.S....I'll never see a dime of what I put into mine,I'll bet.
What I said was you do not deserve a bailout from Exxon ( and WTF makes you think you do?) any more than I deserve your income because it is more than mine. Oil companies did not rob you...your government did and you want me to pay them more and Exxon pay more and Microsoft give more so they can squander our money like they did yours.  Screw that !  

[Robert]

Britman  I know the chart was old but couldn't find one that went current that reflected almost every year their profit has risen. I have no problem in companies making money I do have a problem when the price of gas rises supposedly in response to the price per barrel and then they make this kind of profit, while most of the US takes cuts. Nothing wrong with profit but 41 percent rise, when every quarter so far they have been breaking records in profits while most suffering is wrong. So the 41% when you take it from back figures is over a 100% increase in profits, how many of us have seen this type of increase?

[BigAl]

NO

If you can't make a profit in this country.

Free Enterprise is sunk.

Then you get another Greece, France, Uzbekistan.

I don't know about you but the I like a standard of living that includes toilet paper.

[The Anvil]

I don't know about you but the I like a standard of living that includes toilet paper.

I use baby wipes. A muddy wagon wheel is no way to go about your business. And you never know when some hot chick* is gonna come along and offer to rim you out.



*Average to below average skank may also work. Don't judge me!

[musclehead]

Is anyone else upset over Exxons 41% profit rise?

Nope.

Good for my 401K and pension.

Pretty sure that their profit margin is near 7%, so if it goes up 41% that means that they made 10 cents on a dollar. Woooo hooo

Walmart makes a ton of cash the same way, at 3% margin. The sell a lot.

Um, well sort of. 3% net or gross? I sold wholesale and commodities for many years. There are all kinds of ways to manipulate your margin figure and depending on what you want to do you might go either way.

But people shouldn't really be outraged by the profits. They're pretty gaudy, but we've done that to ourselves by insisting on reliance to fossil fuels when we should have known better. We have no one to blame but ourselves in that respect. What you SHOULD be pissed about is the subsidies they receive.

the economy runs on fossil fuels, unless you've got some new invention up your sleeve it will be running on fossil fuels for quite a while. my truck doesn't go down the highway under sail power.

I heard the fed made more profil then exxon did last year

[musclehead]

I know its not only Exxon but if you look at the figures since 02 the profits have soared every year. In a  time when most are just concerned with holding steady much less loosing.
http://www.nytimes.com/2008/08/01/business/01oil.html

You're just upset that YOUR profits weren't up 41%.  Exxon is a corporation that supplies a product that most everyone uses.  Why shouldn't they make a profit?  Just don't buy Exxon if it makes you feel better.

ya know it's noit just fuel for our bikes either, here is a partial list of stuff we get from oil too...

http://www.ranken-energy.com/Products%20from%20Petroleum.htm

[Chattanooga Mark]

No, Not At All. Exxon pays huge sums of money to the government, they take ALL the risk and get a product to the entire country we need.

The varfious government bodies on the other hand, take no risk and collects taxes like crazy from the gas we buy. City, county, state and federal taxes are over $0.85 a gallon in Chicago. Exxon makes about $0.12 a gallon profit. So ask yourself, who gets rich and has "obscene profits" from gasoline sales?? The government, for doing absolutely nothing positive for those buying gasoline.

People (the delusional) complain about the oil companies and their profits. But they always ignore that the government makes many times what the oil companies do. One side is trying their best to keep the supply (oil, gas, diesel) coming. The other side is doing all they can to screw those working hard to bring us those products.

Class Dismissed,

Mark

[Mr. Nuts]

Just my take but I'd say its a private company and its stockholders expect it to make as much profit as it can. To do otherwise would make it a charity and the stockholders could and would take legal action. The stock would tank sinking retirement hopes. Most stock portfolios and mutual funds contain oil stocks.

Nobody holds a gun to anyone's head to make them buy it. Its a fair transaction with lots of competition. They search the world for the stuff, pump it with billions of dollars in expensive equipment, from thousands of feet down, ship it all over the planet, truck it to refineries at great expense, refine it with billions of dollars of equipment and payrolls, blend it to ridiculous government specs, truck it back all over the country again, and sell it through expensive commercial outlets. They put up with an unbelievable amount of laws, red tape, and tree huggin weenies that sue them at the drop of a hat and try to block them (in my area at least) from trucking new refinery equipment over our roads. There are accidents that costs huge sums. Foreign countries growing like crazy that want the stuff too. And way more complications than I can think of tonight.

And the really amazing thing to me is that they do all this for about the same price as a gallon of milk that comes from a farm not far from my house with a cow doing most of the work.

As someone else mentioned the taxes per gallon are about ten times what the oil company gets.

So if we just gotta be mad at someone it should probably be a politician instead of an oil company.

And if we think oil companies are so very profitable my suggestion is that we all buy one (in the form of some stock). Even with a modest start we'lll be rich in no time at 41% profit.

Has anyone done the math on bottled water, about half of which comes right out of a tap?

[The Anvil]

I heard the fed made more profil then exxon did last year

Where did you hear that? Last time I looked we've got a deficit thing going on. The government does not "make more money" that the oil companies. That's just false.

Ironically enough the fact that oil is used for everything and the fact that our country is SO reliant upon it is exactly the reason the argument could be made why oil companies should not be allowed to make excessive profits. It's not a discretionary item anymore. It's a necessity for day to day life, like water. Not even for drinking either. Think of all of the things you need water for; bathing, cooking, toileting, the radiator in your bike... People would be super pissed if water were suddenly 4 bucks a gallon, tap or otherwise. Today I paid $4.59 for 15 liters of the best spring water you can get, a pretty sweet deal actually.

Fact; completely halt the flow of oil into this country and this country as we know it dies, virtually overnight. We rely on it of electricity which powers pumps which brings water to homes. We rely on it to get back and forth to work. We rely on it to keep hospitals running to take care of the sick. We rely on it to harvest grain and then ship that grain. Our military relies on it in a way people who have not been in the military can't imagine. Oil companies have fought hard for years to ensure that we remain dependent, that's a fact. But what's most disturbing is that we're being held hostage and yet, so many of the hostages seem to have Stockholm Syndrome.

And a lot of inventions have been brought about that could help to eliminate fossil fuels. Some are novel ideas (algae that produces a high-grade bio-diesel) while others are systems (rail networks connecting cities with outlying areas making car use and ownership largely unnecessary) but they've been ignored. So that's another point that just doesn't hold water. The alternatives are they're. We've been blissfully ignorant of them. That bliss is turning sour.

No, it's quite alright to be mad at the oil companies. Are the politicians hosing us too for overtaxing fuel and and then turning right around and giving that money to companies already making billions? Sure, you should be very angry with them. But that does not let the oil companies off the hook for their part and as John Mellencamp once said; "callin it your job sure don't make it right".

[Bigun]

What he said is that the govt makes more profit from a gallon of gas than Exxon does. The fact is that the .gov just pisses it away. My sallary has been frozen for the next 2 years and SSI is considered part of my retirement. I also put 10% of my income into a bond based retirement fund so hopefully I will be able to buy something other than dog food to sustain me in my later years. When I hopefully retire in about 20 more years SSI probably wont be there so I will have to rely on what I have squirreled away, Roadkill helper anyone? This is why I have the Valk now I doubt I will be able to afford one when I retire and I also see a walmart or McJob in my retirement not for something to do but to make sure I can still eat and live indoors.

[Robert]

Listen to the whole thing but the guy that speaks half way through is really good
Fed bail out at 17 trillion and delegates the parting out of the money

Keiser Report: Ghettofication of America (E168)	powered by Aeva

During the 2007 subprime mortgage crisis, Goldman was able to profit from the collapse in subprime mortgage bonds in the summer of 2007 by short-selling subprime mortgage-backed securities. Two Goldman traders, Michael Swenson and Josh Birnbaum, are credited with bearing responsibility for the firm's large profits during America's sub-prime mortgage crisis.[18] The pair, members of Goldman's structured products group in New York, made a profit of $4 billion by "betting" on a collapse in the sub-prime market, and shorting mortgage-related securities.

Stephen Friedman, a former director of Goldman Sachs, was named Chairman of the Federal Reserve Bank of New York in January 2008

[upton]

I know its not only Exxon but if you look at the figures since 02 the profits have soared every year. In a  time when most are just concerned with holding steady much less loosing.
http://www.nytimes.com/2008/08/01/business/01oil.html
[/quote

Seems to be 14% a year and Schumer is a chicken little just like the big boy in the big house.  Let me know when they do not get a raise like they really need one.  If any checks are not cut it should be theirs for all the good they do.