Exxon shatters profit records

[darktiger]

What did you expect after raising gas to the levels it is. No love for it's customers.

http://money.cnn.com/2008/02/01/news...ex.htm?cnn=yes

[Detonate]

Actually I think Exxon has the lowest mark up compared to any of the other gas companies, and has a mark up WAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAY below any other industry.

It's not Exxon that is raising the prices by the way.

For instance, let's say we all still shot film. And the price of film kept going up and up and up... Would you keep your price the same, or just stick with your same mark up.

[darktiger]

Well the size of their profits allow them to have the lowest markup.

Yeah, the gas companies are getting billions of dollars of PROFIT because they are they are not raising the prices to earn profit for their shareholders. Doesn't bother me, I can afford gas and have Exxon stock.

[Mike G]

Good for them making money, why is it people complain when gas companies have a great year, but not when their own business does .. hypocrites

[kenw]

Exxon does not not raise, set or control the prices.

some basics are that (economics 101, Supply-Demand), the more people want it, the higher the price will be. So we have to look in the mirror if we want to assign "blame".

A photographer in high demand gets to charge more, right? Right now, oil is in very high demand, and the supply of refined products is very tight.

The bright side is that high prices make alternatives (solar, wind, geothermal, nuclear) more competitive and more likely to grow in use and therefore see their costs drop thru volumetric efficiencies. At $30/bbl, none of them were feasible. At $100/bbl, they can compete. At $200/bbl, they'll have a major role in the overall energy market.

Many companies make a lot more profit as a % (Return on Investment/ROI, or Profit Margin), which is how businesses are normally rated. Microsoft, Walmart and Apple made more profit %, iirc.

[Jake]

Originally Posted by Mike G

Good for them making money, why is it people complain when gas companies have a great year, but not when their own business does .. hypocrites

That's funny!
I'm going to tell that one to my neighbor who drives a truck for a living!

[Mike G]

So tell him .. still hypocritical to complain that a company is making money, its what they're around for, they aren't charities .. they're not here to give you low prices. They exist to make money pure and simple, don't like it, too damn bad, its part of life.

[Hanky]

The more they make the better my retirement fund.
Let their success inspire you to greatness and not to negativity grasshopper.
Bad feelings only hurt yourself.

[Mongo]

You know, its funny. People complain that gas is $3 a gallon (yeah, me too sometimes). But think about this. A brand new truck in '85 (and Im talking loaded to the hilt) was about $18K-$20K. Today that same truck is $50K+. Gas has gone from just under a dollar at that time to a whopping $3. Cost of the average new home in '85 was in the $70K-$80K range, now they are in the $150K+ range. Its called inflation. Everything costs more than it did 20 years ago, why shouldnt gas?

And I will tell yo uthis, never blame the gas station for the high prices. They dont make squat off gas. They make it off the sodas and candy bars and chips that people go inside and buy. Most stations are lucky to have a $.05-$.07 a gallon profit. Since they usually have anywhere from $75K-$100K in pumps and registers, its not a very profitable part of their business.

[Jeff_Green]

Especially when gas has not inflated much this past year. It's had its ups but it has also had its downs. I agree that everyone wants their business to have great profit, but gas companies should be UNICEF.

Jeff

[CincoJoe]

I know they get my money. I love that speed pass ...lol

[Jake]

Originally Posted by Mike G

So tell him .. still hypocritical to complain that a company is making money, its what they're around for, they aren't charities .. they're not here to give you low prices. They exist to make money pure and simple, don't like it, too damn bad, its part of life.

This reason I'm not all "good for them!" is because I don't care for their business practice. I *feel* some of the things the oil companies do is un-ethical.

It has nothing to do with how much they make. It HOW they make it that I don't agree with.
I also don't like some of wal-mart's business practice. So I don't shop there.
There is nothing hypocritical about not agreeing with how a company does business.
If I find out a company uses child labor, I'm not about to be happy that they made a profit. Would you be?
Now I'm not saying oil companies use child labor, but they still do things that I think is wrong. I don't think that makes me a hypocrite.

[SCone]

Profit is the result of filling a need in the marketplace. Taxes are the real concern.

For example, you earn $3.00, pay .48 in taxes (16%), you're left with $2.52. Then each gallon of gasoline is charge ANOTHER .42 in gas taxes, leaving you with $2.10. But wait, there's more. The oil company will pay some 30% in corporate income taxes taking ANOTHER .63 out of that same gallon of gas.

The result is we are left with $1.47 in goods and have paid $1.53 in taxes.

Yet the eggheads in DC would have us believe it's the oil company that is to be blamed?

[Mike G]

Originally Posted by thejakestir

This reason I'm not all "good for them!" is because I don't care for their business practice. I *feel* some of the things the oil companies do is un-ethical.

It has nothing to do with how much they make. It HOW they make it that I don't agree with.
I also don't like some of wal-mart's business practice. So I don't shop there.
There is nothing hypocritical about not agreeing with how a company does business.
If I find out a company uses child labor, I'm not about to be happy that they made a profit. Would you be?
Now I'm not saying oil companies use child labor, but they still do things that I think is wrong. I don't think that makes me a hypocrite.

So what are they doing that is unethical .. spell it out for us here.

[Concisus Cognatus]

In too many ways big oil companies epitomize the capitalist corporate greed attitude in our capitalist system. Not being political here and I will not respond to any other postings on this subject, just had to chime in with my opinion. This will probably get me chastised. LOL.