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-- Exxon Posts Record Annual Profit
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If I could piss on the families of each and every Exxon/Mobile executive, I'd probably be inclined to consider the possibility of calling it "even" with them. Probably.

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Originally posted by Inconspicuous nationalized industry causes long-term price INCREASES. Price caps cause shortages. Which would you like?

Raise taxes for the rich to cut down on high prices. Seems good to me, make high society cry.

Re: Re: Re: Re: Re: Re: Re: Exxon Posts Record Annual Profit

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Originally posted by Marc Summers 3.00 a gallon and they get record profits. You can throw all of the economic mumbo jumbo you want, it still doesn't excuse the fact that the ENTIRE WORLD got raped with oil prices, and the oil companies are swimming in a golden swimming pool filled with beluga caviar. Seriously, there is no excuse, so stop arguing, it's time to act.

I hope you are aware of the fact that Exxon Mobil hardly makes money on the gas business. Most of its business is focussed on other petrochemical products. The OPEC regulates gas prices. It is a very volatile market subject to unpredictable swings based on a number of factors including availability of oil and political conditions in the middle east and around the world.

Despite being a petrochemical giant, Exxon Mobil's contribution to the global oil business is less than 3-4%. It's not really a significant player. The state owned oil industries in the middle east regulate everything. So, don't try to relate the high gas prices with Exxon's profit. The relation is not obvious and I don't even think there is a direct relation.

quote:

Originally posted by Marc Summers Raise taxes for the rich to cut down on high prices. Seems good to me, make high society cry.

that'll result in an even worse economy, and, eventually, less spending power and proportionally higher taxes for everyone. Anything else you want to try?

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Originally posted by Marc Summers I want them to lower prices because they can afford it and still make a reasonable profit. $1.25 or less. And lower prices for lower incomes. Hell, nationalize the companies, and send those businessmen packin'. Give people gas and oil at prices they can afford based on their income.

exxon supplies oil as well as refines and distributes to the end consumer...

I wonder where they made the largest margin?!
I know a lot of what they exploit they don't supply themselves to the end consumer.

If the market price at the pump is 3 dollars a gallon they can't lower to 1.25.
They would get sued by other companies for lowering the cost at the pump and if they were to lower the cost of the oil barrel when providing it to other companies they would get sued under international commerce law.

quote:

Originally posted by Marc Summers Raise taxes for the rich to cut down on high prices. Seems good to me, make high society cry.

ROLF

/my involvement in this thread. Apathetic? Only insofar as it prevents BS like this.

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Originally posted by Omega_M I hope you are aware of the fact that Exxon Mobil hardly makes money on the gas business. Most of its business is focussed on other petrochemical products. The OPEC regulates gas prices. It is a very volatile market subject to unpredictable swings based on a number of factors including availability of oil and political conditions in the middle east and around the world. Despite being a petrochemical giant, Exxon Mobil's contribution to the global oil business is less than 3-4%. It's not really a significant player in this business. The state owned oil industries in the middle east regulate everything. So, don't directly relate the gas prices to Exxon's profit. The relation is not obvious and I don't even think there is a direct relation.

source it and cross-reference.

quote:

Originally posted by Inconspicuous that'll result in an even worse economy, and, eventually, less spending power and proportionally higher taxes for everyone. Anything else you want to try?

Yes, actually. You are a twat capitalist that puts the $ above human life and prosperity. Fuck off.

The rich aren't taxed much, Bush made sure of that. Nice, big, and fat tax cuts.

HAHAHA, ladies and gentlemen, OMEGA M tried pulling one over by leaving words out.

He got this from Wikipedia.

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It is the largest of the six oil "supermajors" with daily production of 6.5m boe (barrels of oil equivalent), contributing 3% of the world's oil and 2% of the world's energy.

http://en.wikipedia.org/wiki/ExxonMobil

I wonder if these mega-companies compete with each other over who can make the most profit for the year. And the winner gets $1 from each of the CEOs.

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Originally posted by Vlad I wonder if these mega-companies compete with each other over who can make the most profit for the year. And the winner gets $1 from each of the CEOs.

Eddie Murphy wasn't available this year.

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Originally posted by lex400sc the problem is you clearly lack understanding on how the price of crude is set.

i just see the oil industry as an example of capitalism at its best

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Originally posted by Inconspicuous Eddie Murphy wasn't available this year.

With Don Ameche and Ralph Bellamy both dead, Eddie Murphy is useless in this equation.

quote:

Originally posted by Marc Summers HAHAHA, ladies and gentlemen, OMEGA M tried pulling one over by leaving words out. He got this from Wikipedia. http://en.wikipedia.org/wiki/ExxonMobil

You are one real idiot. Exxon Mobil is the "largest" of the 6 super major oil companies. Now let me dumb that down for you. It only means that Exxon Mobil beats 5 other privately held companies, namely

Shell
BP
Total S.A.
Chevron
ConocoPhillips

and NOT the state owned oil companies of the middle east countries. Again, to dumb it down further, if you notice carefully, the "largest" super major's contribution to the global oil industry is only 3%. So you can imagine that 97% of the oil comes from other sources.

And BTW, I didn't get this information from Wikipedia. Exxon Mobil was at my school campus last fall and I interviewed with them for a position. I attended information seminars by the Exxon reps and engineers who gave us a detailed view of the oil market ,their contribution to the global oil industry and the contribution of gasoline profits to their overall business. So stop being an idiot. I believe in their data more than your stupid rants.

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