Exxon Mobil sets record with $45.2 billion profit

[pontooner]

This just really gets under my skin.

They broke their own record from last year and the record profit is for any company ever not just Exxon.

I know some of you are all about letting a company make all they can, however they can but this just isn't right.

How did they manage to set a annual profit record with the economy/spending in the toliet? I'll tell you, stick it to every single person at the pump.




http://finance.yahoo.com/news/Exxon-...-14206062.html

[Devils Horse]

Profits are for the entire 2008 year, their Q 4 earnings were down by 33%. Yeah, they're gouging our eyes out alright, but what about the taxes the government gets off every gallon sold? How come you're not upset about that too?

Gas would be around to $1.20 a gallon right now if it weren't for all the federal/state taxes. Exxon takes in millions a day from gas sales with a few cents profit on each gallon sold, what does the federal government make per gallon? 18 or 19 cents? Think about how much money that is. We're talking the ultimate in gouging there brother. How do they plan to replace the revenue when we all go green?

[greenriverman1]

I get return on the gas tax because it builds roads. No tax no roads no drive. It also seems like the tax on gas was not much at all when we were paying four and five dollars a gallon for gas.

The price gouging that the oil co. did along with the banks and the sorry political leaders and some others have just about brought this country down.

DA

[JD7.62]

Why do we bitch when oil companies make really a very small % of profit/unit especially compared to other consumer goods?

I would love to own a company that sells a product as high in demand as oil, its not their fault. One day oil wont be in high demand and what ever the next form of energy is needed I can assure you that people will be complaining of those companies too!

I mean heck, we pay like $2.50 for a glass of sweet tea at a place to eat that cost them what, like 25cents?! Or what about those $4 beers at football games? You cant tell me that that isnt "price gouging!" Why arent we bitching about all that?

Ive never really complained about gas prices, after all its a product I need and I will pay what I have to to get it. If the price is too high to justify the cost I and every one else will find something else. So far it isnt.

[pontooner]

I was just suprised they set a record profit since most people had to cut way back on the amount of travel/gas they usually use and they set a record profit anyway. I'd like to see the amount of gas they sold this year compared to years past.

Then they make all these phony excuses about why prices soared this past year and say it's not their fault................

And JD7.62 you are comparing luxury items to a necessity for most people and hopefully with Bush out we can get started on some alternative.

[GeoFisher]

Why do we bitch when oil companies make really a very small % of profit/unit especially compared to other consumer goods?

I would love to own a company that sells a product as high in demand as oil, its not their fault. One day oil wont be in high demand and what ever the next form of energy is needed I can assure you that people will be complaining of those companies too!

I mean heck, we pay like $2.50 for a glass of sweet tea at a place to eat that cost them what, like 25cents?! Or what about those $4 beers at football games? You cant tell me that that isnt "price gouging!" Why arent we bitching about all that?

Ive never really complained about gas prices, after all its a product I need and I will pay what I have to to get it. If the price is too high to justify the cost I and every one else will find something else. So far it isnt.

Nice to hear someone who UNDERSTANDS basic economics..........Oil companies make less that 10 percent on GAS, while Kroger, Wal-Mart, Target, Meijer, etc, etc, etc...........all make an average of 30-40 percent on their products..........WHAT the crap is the difference.

Stop listening to the STUPID media, and take a class, or something. When you sell BILLIONS of ANYTHING, don't you think you're going to make some money........Hell, if KROGER sold a billion brooms, they'd make 45 or 50 billion in revenue also......but you know what.......there is NO demand for a BILLION brooms.........

Later,

Geo

[pontooner]

Stop listening to the STUPID media, and take a class, or something. When you sell BILLIONS of ANYTHING, don't you think you're going to make some money........Hell, if KROGER sold a billion brooms, they'd make 45 or 50 billion in revenue also......but you know what.......there is NO demand for a BILLION brooms.........

Later,

Geo

Geo I would have thought with your posting rep you would have appreciated a conspiracy theory post a little more.

You don't need to take a class to understand supply and demand, I get it.

What I'm trying to point out is that I'm sure they sold a lot fewer gallons of gas this past year and still set a profit record because they gouged you and feed you their lame excuses as to why gas prices were so high whether you want to admit it or not.


Did you guys cut back on travel/gas this past year?

I know I did, plus saw lots of pepole carpooling that have never carpooled a day in their lives until this year, people not even going on vacations or if they did not traveling very far......................

These recent cheaper gas prices must have softened some of you up, wait until March when they go back up and maybe we can bring this post back to life, then again hopefully fishing wil be so good by then it won't matter.

[GeoFisher]

Geo I would have thought with your posting rep you would have appreciated a conspiracy theory post a little more.

You don't need to take a class to understand supply and demand, I get it.

What I'm trying to point out is that I'm sure they sold a lot fewer gallons of gas this past year and still set a profit record because they gouged you and feed you their lame excuses as to why gas prices were so high whether you want to admit it or not.


Did you guys cut back on travel/gas this past year?

I know I did, plus saw lots of pepole carpooling that have never carpooled a day in their lives until this year, people not even going on vacations or if they did not traveling very far......................

These recent cheaper gas prices must have softened some of you up, wait until March when they go back up and maybe we can bring this post back to life, then again hopefully fishing wil be so good by then it won't matter.

I cut back a little.......but not that much..........and I added another driver to our family, so collectively, we probably used more fuel this year, not LESS.

AND the last 3 months, fuel has been priced RIGHT, and my consumption has significantly went up...........More trips to Dale, More trips to the Mall, More trips to Indy, More trips to Muncie........etc, etc.......

I think the rest of the country cut back, probably to the tune of 10 or 20 percent........While I really cannot "AFFORD" the 4 dollar a gallon gas, I was willing to PAY it and not change my lifestyle too much..........I STILL went to KY lake 6 or 8 times last year. Each trip to the tune of 200-300 bucks in gas..........I still plan on AT least 6 or 8 trips this year, but if the fuel costs stay low, those may DOUBLE.

I really think Oil will stabilize, and we'll see REAL prices for a barrel of oil, and not speculative prices.

If you REALLY want to blame someone for the oil costs, look at the Harvard Endowment, or some of the National and International hedge funds, that were HEAVY in OIL speculation.

Many of the FOOLS who ran the numbers for Enron ended up in financial jobs all over the Banking, Insurance, and Financial sectors. They had FANTASTIC and ILLEGAL ways to cook the books, and boost the bottom line of many companies............THOSE are the guys GUILTY of gouging......THOSE are the guys who should be held accountable.........THOSE are the guys who are SCUM of the earth.......

The mortgage collapse is an EASY way to "hide" some of these activities.......WHY do you think all the bailout money has no paper trail. The banks involved are trying to hide their losses in the speculative markets with regards to OIL.

I may be WAY off base here, but I think LOTS will be coming out in the future with regards to this.........

My final note...........I just BET a ton of these International Hedge Funds that were driving up the cost of OIL are supposedly some of our "allies" in the middle east. I know for a FACT the Dubai, and Saudi Arabia are guilty, and well as Bahrain and UAE...........They manipulated the financial markets and **** near destroyed the global economy........

Don't think it is over..........There is a TON of information from legitimate sources that you can look up for yourself that talk about this VERY subject.................And Tom Clancy wrote about this in many of his books...........I find that interesting.

Later,

Geo

[know1]

I know I'll get slammed, but businesses are supposed to make profits. If my company made a record profit last year, I'd be proud of them.

[BPenrod]

I know I'll get slammed, but businesses are supposed to make profits. If my company made a record profit last year, I'd be proud of them.

Nobody should slam you for making that statement. You are 100% correct.

[DJD]

Profits are for the entire 2008 year, their Q 4 earnings were down by 33%. Yeah, they're gouging our eyes out alright, but what about the taxes the government gets off every gallon sold? How come you're not upset about that too?

Gas would be around to $1.20 a gallon right now if it weren't for all the federal/state taxes. Exxon takes in millions a day from gas sales with a few cents profit on each gallon sold, what does the federal government make per gallon? 18 or 19 cents? Think about how much money that is. We're talking the ultimate in gouging there brother. How do they plan to replace the revenue when we all go green?

Great point Jim. Look at the West coast right now some states are trying to come up with a mileage tax since the gas tax revenues are down. So they want to get the citizens to pay to drive.
Lets see, people are buying into this go green scam and buying more fuel efficient vehicles, driving less, car pooling and using public transportation right? Now by doing what these Liberal, Al Gore coat tail jumping, narrow eyed mental midgets wanted they realize Doooh! We lost tax revenue....gotta change the rules and increase or create more taxes. SCAM SCAM SCAM!!!

[Devils Horse]

Leave it to the left coast to innovate. The government's gotta support itself, and they'll take money from it's citizens one way or another.

For example, many states in the northeast have a toll booth on main roads every few miles. Assuming gasoline taxes are used on highway infrastructure, I wonder what those states do with the money they collect off each gallon sold? For that matter, what do they do with the toll money? Maybe they use it to build more toll booths.

Problem is federal and state governments are long on taxing and spending but short on accountability.

I love the suggestion box on Mr. Beshear's web site. Says he wants ideas to save money, but conveniently neglects to post what our tax money is being spent on now.