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-- Big Oil - $9.9 bln in profit
Posted by simms327 on Oct-27-2005 18:06:
Big Oil - $9.9 bln in profit
NEW YORK (Reuters) - Exxon Mobil Corp. on Thursday posted a quarterly profit of $9.9 billion, the largest in U.S. corporate history, as it raked in a bonanza from soaring oil and gas prices.
source
$9.9 billion in profit....
why is gas at $0.89 then?
Posted by rabbitjoker on Oct-27-2005 18:09:
Because we live in a part of the world where FREE MARKET CAPITALISM is the game and PROFIT is the objective of companies (and people who work for them).
Profit is not a dirty word.
Posted by Yohan on Oct-27-2005 18:21:
| quote: |
Originally posted by rabbitjoker
Profit is not a dirty word. |
You'd make a good Ferengi RJ.
Ohhhh... Must resist the urge to Photoshop RJ with Ferengi ears! 
Posted by Moral Hazard on Oct-27-2005 18:26:
| quote: |
Originally posted by EvilTree
You'd make a good Ferengi RJ.
Ohhhh... Must resist the urge to Photoshop RJ with Ferengi ears! |
Rule of Aquisition 1248 - don't resist temptation
Posted by joinT on Oct-27-2005 20:52:
| quote: |
Originally posted by EvilTree
Ohhhh... Must resist the urge to Photoshop RJ with Ferengi ears!
|
aaaahhh.. don't resist 
Posted by psychosomatica on Oct-27-2005 21:09:
| quote: |
Originally posted by rabbitjoker
Because we live in a part of the world where FREE MARKET CAPITALISM is the game and PROFIT is the objective of companies (and people who work for them).
Profit is not a dirty word. |
neo-con
Posted by 4-play on Oct-27-2005 21:14:
| quote: |
Originally posted by rabbitjoker
Profit is not a dirty word. |
Posted by Transmotion on Oct-27-2005 21:24:
Re: Big Oil - $9.9 bln in profit
| quote: |
Originally posted by simms327
NEW YORK (Reuters) - Exxon Mobil Corp. on Thursday posted a quarterly profit of $9.9 billion, the largest in U.S. corporate history, as it raked in a bonanza from soaring oil and gas prices.
source
$9.9 billion in profit....
why is gas at $0.89 then? |
why in the last three years 16 refineries has been closed in North America?
For the last Decade oil companies started politics of the market pressure.
just for information our very own monopolists (PetroCanada/Shell/Sunoco/Esso) make an average 26 cents per litre,add taxes and you get the real gas price.
by the way - usual price per oil contract is 1 billion ,if i am investing my own money into this business i am about to get 15% out of it. so their profit doesnt seem to be THAAAAT huge
Posted by DigiNut on Oct-27-2005 22:20:
| quote: |
Originally posted by psychosomatica
neo-con |
Neoconservatives are left-wingers who have come to believe in the virtues of the free market by observing how socialism is killing so many other countries.
It's funny how the Loony Left has tried to make "neo-con" into its fun little buzzword to insult free-market capitalists. I guess they abused the word "conservative" so much that it stopped being a dirty word, so they had to add "neo" to it in order to give it more punch. Trouble is, the term already existed before it made its way into Marxist circles, and the people they try to slap that label on (i.e. Bush) are very rarely neo-conservatives.
You want to know why gas costs 89 cents?
How about the 40-45% tax imposed on it?
Also, it's a pretty silly time to be bitching about the price of gas, since it's just come down about 30 cents in the past few weeks and is actually a little bit lower on average than it was before Katrina and so on.
Posted by psychosomatica on Oct-27-2005 23:24:
heh. that was actually a subtle reference to LKD's thread. I'm a commerce student.
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