Exxon Mobil posts record annual profit

[kach22i]

Exxon Mobil posts record annual profit
http://news.yahoo.com/s/ap/20070201/ap_on_bi_ge/earns_exxon_mobil;_ylt=AhPMkohP8i6qyR1svQ8YpTTMWM0 F;_ylu=X3oDMTA3b2NibDltBHNlYwM3MTY-

HOUSTON - Oil giant Exxon Mobil Corp. on Thursday posted the largest annual profit by a U.S. company — $39.5 billion — even as earnings for the last quarter of 2006 declined 4 percent.

[IMG]http://www.a-merking.no/images/nodog****.gif[/IMG]

Not again!

[widebody911]

But I thought the run-up in gas prices was entirely due to oil futures speculation?

[kach22i]

Originally posted by widebody911
But I thought the run-up in gas prices was entirely due to oil futures speculation?

And the demand China put on supplies.

We are all the clowns now.

[john70t]

Well gasoline prices did drop (by about 33%)......back down to last years prices.
Of course they are higher than 7 years ago, but then again the dollar isn't worth much these days...

[Superman]

You guys and your tin foil hats. The fact that the President is an oil baron, the VP is connected at the hip to Haliburton, they have been invading Iraq for a few years and the oil companies have consistently posted world record corporate profits......all this is purely coincidental. You're freakin' nuts if you suggest there may be a connection.

[Gene Wilkes]

+1 Superman! He's paying back his cronies W/INTEREST!

[Scott at Pelican Parts]

Profit/Revenue = ~10%
Is that unusually large?

[Nathans_Dad]

Don't bother, Scott. Trying to talk sense to them is pretty pointless. They are intimately attached to their conspiracy theories.

[JSDSKI]

For the record, an oligarchy is not a conspiracy. It's just doing what oligarchies do - control markets and profits.

[M.D. Holloway]

So much for CSR...lets see if they can get an ISO26000 cert.

[Scott at Pelican Parts]

Originally posted by JSDSKI
For the record, an oligarchy is not a conspiracy. It's just doing what oligarchies do - control markets and profits.

There isn't much Exxon or any other western firm can do about this, as the oligarchies (national oil companies like Saudi Aramco and Petroleos de Venezuela) either purposely limit supply (former) or incompetently nationalize their fields and keep western technology away (latter). These national oil companies manage over 90% of the world's oil. Saudi Aramco alone has 10-times the reserves that Exxon does.

[Sonic dB]

According to today's WSJ, Exxon and Haliburton are the lowest ranked companies in terms of public perception/approval in the US.
Microsoft was #1, they speculate due to Gates philanthropic endeavors.

[sammyg2]

The largest corporation in the world should post the largest profit in the world even if it is only about an 11.5% net profit. See that's how it works and there's nothing wrong with it, unless you are born into this family:

[legion]

Man....I don't want to get in the middle of this radial self-pleasing.

[Moneyguy1]

Interesting question. What are the % earnings for let's say, the largest ten or twenty corporations in the US?

And....Will the higher earnings be used in part to ease the refinery problem we now have here in the U.S.?

[Rick Lee]

The refinery problem here is not for a lack of funds or willing investors.

[sammyg2]

No. The profits will not be used to ease the refinery problem we have here in the US, but not because of the reason you might think.

It is IMPOSSIBLE to build a refinery in the US. The tree huggers and their lawyers will not allow that to happen. Ever.
A comapny has been trying to build a new refinery 60 miles east of yuma, Arizona for over 10 years. They have the money, the plans, and and the permits, but they haven't started building it yet because it is TIED UP IN THE COURTS because of all the law suits from the environmental groups. Now it will probably never be built, thank you very much you POS extremist environmentalists.

Have you ever been 60 miles east of yuma? There is nothing there except dirt and rocks.
If we had less extremist environmentalists and less lawyers the world would be a better place.

Kach, wide, sup, why do you insist on posting about subjects you don't understand? How about if you spend some time really researching the subject to gain an understanding of how it works before you start throwing out accusations that are just plain idiotic?
Maybe because it is easier for someone to post wild accusations than to learn and understand.
When I was a kid my parents called that laziness.

[Moneyguy1]

Rick

Then precisely what is the refinery problem? NIMBY?

[Racerbvd]

Originally posted by Rick Lee
The refinery problem here is not for a lack of funds or willing investors.

[dafischer]

Originally posted by sammyg2
No. The profits will not be used to ease the refinery problem we have here in the US, but not because of the reason you might think.

It is IMPOSSIBLE to build a refinery in the US. The tree huggers and their lawyers will not allow that to happen. Ever.
A comapny has been trying to build a new refinery 60 miles east of yuma, Arizona for over 10 years. They have the money, the plans, and and the permits, but they haven't started building it yet because it is TIED UP IN THE COURTS because of all the law suits from the environmental groups. Now it will probably never be built, thank you very much you POS extremist environmentalists.

Have you ever been 60 miles east of yuma? There is nothing there except dirt and rocks.
If we had less extremist environmentalists and less lawyers the world would be a better place.

Kach, wide, sup, why do you insist on posting about subjects you don't understand? How about if you spend some time really researching the subject to gain an understanding of how it works before you start throwing out accusations that are just plain idiotic?
Maybe because it is easier for someone to post wild accusations than to learn and understand.
When I was a kid my parents called that laziness.

Uhhh...the refinery problems here in the US are limited production due to the maintenance and upgrades to existing facilities needed to maintain high levels of production.

It serves the oil companies better not to make the capital investment, and to keep the prices high with the related limited production.

No tin foil hats, just pure economics. POS extremist environmentalists? Maybe. POS oil companies? Definitely.

And BTW, I'd recommend bran or roughage for you.