Record Oil Profits Again - this is getting insane

Consumers and ordinary people are struggling to make ends meet and the Big oil compnaies are posting record profits !!!. This pisses me off to the extreme - who the hell are these gougers and more importantly where do they live? lol - Its time us ordinary folk step up and put an end to this gouging. Where in the hell are our elected representatives the WE elected that are suppose to be working for US !!! This is bull# , I'm fed up and I am not going to take it anymore !!! What can we do - I want to organize a boycott - will you help out ?

I know we all need fuel - but this is insane - we should all pool together at the national level , buy all the oil futures and try to bankrupt these thieves. Inappropriate sentence removed

Who's with me?




LINK:
www.breitbart.com...





[edit on 27-1-2006 by Thomas Crowne]


Mod Edit: CAP title and fix EX quote box.



[edit on 27-1-2006 by kinglizard]

good for bush and his allies

i agree, the oil companies are making alot of money and there is pretty much nothing you can do about it. the politicans and oil companies are hand in hand. so for this reason the only thing to do is play the game. When oil prices go up so does gold. so buy gold, the price difference will even out. Also instead of just sitting back and complaining buy stock in chevron, exxonmobile, halliburton and all the other companies benefiting from the current administration.. this is the only way to make it work unless you want to work 2 jobs.

by the way.. with the current events with iran oil companies are set to do even better in the coming years due to even higher oil prices. All i can say is play the game.

-Turbo

More profit news hits MSNBC site today

Can someone with the right knowledge explain this to me...?

There has to be some reason WHY they are making record profits during these uncertain times...Is it something (record profits) they can not avoid...some economist please explain this to me so I can understand and stop hating...
If there is another thread out there that explains why they can't avoid record profits?

Very confused!

Say hello to the Global Uberlords

external image
Lee F. Raymond, Exxon CEO
Rex W. Tillerson, Exxon President

Keywords here are war profiteering and the Dick Cheney's energy cabal. Your tax dollars are footing the bill for these companies to get lucrative contracts and incentives and this equates to record profits.

ATS BUSINESS: Exxon/Mobile reports Record Profits for Third Quarter Earnings

Flashback: "Energy Bill Includes $8.5B for Companies"


[edit on 30-1-2006 by Regenmacher]

Do you drive a car? Heat your house? Cook you dinner? Run hte air conditioning? How about plugging in your computer.

Gas is used for everything, and with the Katrina hoax and price gouge, they are showing record profits again. They beat the old record they set in 2002.

and oil companies make profits no matter who the president is.

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Record profits for Exxon in a oil recession, while fighting a war in oil rich Iraq doesn't happen for any President. All the oil executives that testified before Congress recently said that they had not met with Dick Cheney. Funny how a document came out a couple days later that proved they all were full of bullcrap.

It's called getting raped by global conglomerates, and citizens helped pay and vote for it.
Exxon Wants Back The $5B It Has To Pay In Alaska Oil Spil

US tops G7 Misery Index







[edit on 30-1-2006 by Regenmacher]

This is all a good read thus far, but I'm interested in some reasons WHY they don’t have to tighten their belts...It's so obvious to me that there has to be some econmic reason that they are having record profits...

I'm not really looking for finger pointing and what not, but rather someone who can say "here is why they're making a lot of money... xyz dollars are spent there, then they'll lose xyz dollars there in the future, so it will work out to not be so much in their favor" It must be a no brainer of WHY WHY WHY this is happening.

Sorry for my lack of economic knowledge...

its happening because it can.
people are greedy and dont care about other people.
its that simple.

actually, I think they run like any other business, wouldn't they. I mean, if I buy or produce products, and well, when I go to sell them, let's say that I have a standard 10% markup on the product. well, if the cost of that product goes up, wouldn't I get a bigger profit out of it? that is, of course, as long as the market can support the higher prices, which we're talking oil here, it has to support the higher prices. of course, we could all trade our cars in for horses, I guess.....and then, as a mass protest, ride our horses to the corporate headquarters of the energy giants....that might get their attention!

they are making record profits because the price to extract oil from the ground hasnt really changed (maybe a few bucks a barrel) but speculation of the oil price and all the uncertainty with opec and iran is driving prices higher so the profit to the oil companies goes up because their pumping price stayed the same.

for example lets say it costs $5 per barrel of oil to pump it out of the ground and crude oil trades for $40 a barrel on the NYSE thats a profit of $35 dollars per barrel. But when the price is $70 per barrel thats a profit of $65 per barrel.

Also next hurricane season should bring some interesting trading in the oil market if you have extra cash get some oil stocks before hurricane season. Most likely you will make some cash.. even if nothing happens to the oil rigs just the potential will drive prices up and of coarse the oil companies arent going to say "hey were doing fine you can bring the prices down we have plenty of oil" .. hahahaha

The total year end profit for ExxonMobil was about $36 billion.

This morning in the Houston Chronicle, the same day the news was announced of total year end profits, ExxonMobil took out an entire backpage add to explain why its profit margins are so high.

They claimed that the volume of the industry is very large (40k barrels of oil consumed per second around the world, 8000k per day) compared to other industries such as pharmecutical, transportation, food&beverage, etc.

They compared the profits in cents per dollar in which the Oil&Gas industries (8.2 cents per dollar) ranked just above the average of all industries (6.8 cents per dollar), pharmecuticals (18.5 cents per dolalr) ranked the highest and transportation (.2 cents per dollar) the lowest of about a dozen and a half total industries.

The source of the information is sited as a company filling as reported by Oil Daily for the oil and natural gas industry, and by Pricewaterhouse-Coopers LLP from data compiled by S&P's Compustat for all other industries.

In fact I couldn't find a websource so here is most of the article if you are interested, I find it fun to read.

Taking a second look

Energy industry earnings are high , but our profit margins are in step with other industries. How can that be? Because the scale of our industry is enormous.

Looking at the latest earnings figures for
the energy industry, you might think our
profit margins can't be beat. But looks
can be deceiving.
The energy industry had a good year,
to be sure. For example, ExxonMobil's
earnings for 2005 set a record, which is
good news for (investors and workers alike)...yadda yadda yadda...
Our industry's profit margins, however,
are comparable with the nation average.
For every follar of sales, the oil and natural
gas industry earned 8.2 cents on average
during the third quater (average of all major industries in US was 6.8 cents during the same time)....
The reason our earnings top many
other industries' but our profit margins do
not comes down to two words: revenues
and costs.
Energy is produced and sold in tremendous quantities (what I stated above)...
Cost effeciencies of $1 billion....
Neverthless, during the first 9 months
of last year, we incurred $229 billion in
expenses. More than $1k per
American adult and more than the Fed
spends on Medicare costs
nationwide during that same period.
Costs include taxes. In 2004, [we]
paid more in income taxes and other taxes in
the United States than we earned here. Our
total federal and state tax expense in 04
was $11.8 billion, compared to earnings
of $8.2 abillion from our US operations.
**My favorite part**
So are the energy companies' profits disproportionately high? It's worth a second look.

.......

Yes, people. Please, take a second look.

[edit on 30-1-2006 by Frosty]

Is that ATS title picture severely edited or is it me? That is the same guy in both pictures is it not? Seems like he either lost a ton of weight or somebody had some photoshop fun.

Lee Raymond is a reptillian, maybe the photo was taken before his annual skin shedding

He has big jowls, and if he bends his chin down it looks like that. There's no telling how much they airbrushed away either in the first pic. Some of his pics he looks fat and some not. In any event, either image looks like the Poster Child for the Energy Hog. Oink...

The largest trade deficit - check
The largest budget deficit - check
Oil companies with the largest profits ever- check
Masses afflicted with Stockholm Syndrome - check

Oil execs refuse to testify at U.S. Senate hearing - check

external image
If Muhammed can't go to mountain, build a ski resort in the desert!



[edit on 31-1-2006 by Regenmacher]

everyone seems to forget that energy prices are not set by the companies.

the trading of oil, unleaded, heating oil, natural gas, etc didn't start till the early 80's. if you want to point fingers and place blame look at the comodities markets. that is where the ultimate price is set now days so get off your butts, study up and start trading in the comodities. more than just oil companies are making money

I've had this odd question recently, what is this profit being used for?

Don't the oil companies fund our "wonderful" drugs? What else are they funding?

Just a question I've had lately.

Troy

i wasnt saying that the oil companies dictate the prices i was saying that speculation in the market will drive prices higher and of coarse the oil companies arent going to lose money by easing worries about the oil supply. If you read some of my other above posts you will see i tell people to play the game with gold and oil stocks etc.
if this isnt what you meant im sorry for misunderstanding.