Here's a question for all you geniuses out there...

Where did all that money go? I will tell you, Right back into your pocket... in the form of your Pension, 401k and other investments...

Why dont you start a movement and send that check back to them... That'll show 'em...

The oil companys make about 4 cents per gallon... If YOU wouldn't buy so much gas, their profits would go down...

Why isn't anyone outraged that the fed government made TWICE what the oil companys made for doing NOTHING???

My response to this thread is that the fact that they made such a huge profit is not that big of a deal. As stated, we keep buying the product at any price while choking on our complaints as we pony up the dough to keep buying the product. Simple market strategy, windfall results.

My problem is that Dubya gave them those huge choking tax cuts in the wake of record breaking profit margins, which means that we end up paying for it all twice. This bothers me more than anything else. This also tells me where our president's loyalties lie and it has bothered me since Katrina recovery started.

Why is it people get wraped around a number they cannot possibly understand. 11Billion dollars??? look at it as a perecntage profit of net sales. If you had a business would it not be unreasonable to try to get a 10% profit return at the end of the year? All bussiness try to make a profit. Lets put this in perspective, Wal-mart rakes in more than 10Billion profit and nobody is complaining about them. With all that profit they could help us because they can afford to pay for the difference of cost due to increase fuel costs and just give us a good break.. Oh Wait, they already give is a good cost on items because they squeez the little guys to put cheap stuff on their shelves. Get over it. If you want a comunist or socialist government Move.

Originally posted by verbal kint
reply to post by jetxnet

 

I doubt there's a person on ATS that can accurately grasp the immense size of the number 1 billion; much less 11.

I hear you on grasping the whole billion thing.

Am posting a quote from a thread from a few months ago.

You're gonna like this.


A. A billion seconds ago it was 1959.


B. A billion minutes ago Jesus was alive.


C. A billion hours ago our ancestors were living in the Stone Age.


D. A billion days ago no-one walked on the earth on two feet.


E. A billion dollars ago was only 8 hours and 20 minutes, at the rate our government is spending it.

Cool huh?

A few companies make out like bandits in climates like this. Thankfully at least a FEW of them are American or an ally.

I think the real "crime" is institutional suppression of new technology.
They're over-managing competition. We need robust competition. That's the real danger of "the corporations." Not civil liberties, but unethical and undue influence beauracratically.

reply to post by verbal kint


It has recently been reported that the CEO of the said company has made more than Exon has spent on research and development on offshore drilling. Don't be fooled, this is all politics, and another corporate attempt on a major public land grab. They already have more than 400 million acres and thousands of drilling permits already. Even if we give them more, it will be a decade or more before it comes on line, and even then experts are saying it would only drop gas prices by a few cents. Moreover, if they drill more on public lands, it's subject to export

That's right I said "export". Today the USA exports roughly 1.5 million USB per day!

Wake up and realise that the Gas, Oil and Petrolium party (GOP) is in it purely for the money, and it has nothing to do with "we the people".

Originally posted by Slothrop
reply to post by verbal kint

 

what is "wrong with this picture"? companies are supposed to make money. exxon is making a lot of money right now. that's the point of running a business. why do people fear and hate success so much?

I agree.

I can't believe how many knuckleheads on this board don't understand how HARD it is to refine crude oil and get it to all those pumps. Exxon spends billions on risk and and employment. Their profit margin is only 8%, which is not much if any of you have ever run a biz. I have, and that's not much.

I'll give you a clue.........Look at what just happened with the Caspian deal. (I believe they had their heads turned on this one, LOL) You can bet the Russians are very happy about that. In my humble opinion, it is a very dangerous time with the last of this failed presidency. Anything can happen. As they say, all options are on the table and don't forget, thanks to their policy, it also includes you, like it or not. These oilmen thrive on giving gifts, and the gifts never end. I am sure the gift of mauling the U.S. coasts, and other areas for the oil search may be the last and most important gift. Remember that if you are for this giveaway, take a look at the oil rich countries, and realize that after all the squeezing of their oil for years, they are nothing but deserts!!

Regards!!

Originally posted by verbal kint

Thug went out today and killed a squirrel. He came home, cooked the squirrel, and ate. He gave the left overs to Werko, who was hungry 'cause he was tired and hadn't done squat all day.

The "Thug/Werko" scenario is flawed from the start. Thug would most likely give leftovers to Werko if Werko was a family member or a friend. If Werko has different customs that disturb Thug, or Werko sleeps with Thug's wife while Thug is out hunting, most likely Thug WILL NOT give werko the leftovers. He would probably move away from Werko and not deal with him (at the least,) if not kill him outright. It's human nature.

Because humans are advanced enough to try to avoid hard manual labor as much as possible, and because they have an inherent desire to control their surroundings and other, money and commodities were invented.

So you need something that everyone can agree has value to exchange with each other to get things done. The world's currency is not the US Dollar, it's not the Euro, it's Crude Oil. Lindsey Williams has described in detail why Exxon is making such huge profits, and who is behind this. I'm not going to say it here, but if you want to find out the truth, you should Google Lindsey Williams and watch his YouTube videos.

Humans are inherently evil. They don't have each other's best interests at heart; this is the default setting. Only when you realize this can you rise above our nature.

reply to post by verbal kint


like all the others.

buying low selling high

they use the reserves to make profit

I think what we have here is a question of what resources are fair to leave up to the capitalist system and which should be withdrawn from that system and regulated for the good of the majority.

Electricity is one such thing which has been globally recognised as a basic amenity which every person is entitled to have access to, rather than an amenity which someone else has a right to make a profit over. Water is another such amenity.

I think it's unfair to say that if you are willing to buy oil then you are willing to allow someone else to make a profit from that sale. Oil is a basic necessity in thisw day and age, lets face it, and it should ideally be regulated to give as many people as possible access to it.

All this talk of overhead costs is somewhat speculative, none of us truly know how much such a system costs to maintain, but my guess is that the books are in the kitchen experiencing some serious cooking if they are only maintaining an 8% margin with such an increase in consumer price...

Everyone lives by selling something.

Sorry about the one liner

reply to post by verbal kint

How do you think Exxon just returned the largest quarterly profit ($11,000,000,000+) in history (by ANY company)?

Maybe because the cost of a barrel of oil is double than the previous year?

Just a "laymans" observation.

Can you comprehend the paultryness of a 8.9% profit margin?

Heck, do you even understand the night and day difference between the words "profit" and "profit margin"?

reply to post by verbal kint


Well I certainly see how Werko could be getting the shaft, and should rise up and throw off the shackles of his oppressor.

America was founded on greed and deception and ingenuity and a sense of personal responsibility. All countries have experienced both the good and the bad sides of humanity, yet through capitalism we have found a way to allow the ambitious and patient and hardworking to fight their way to the top. Some have to work harder, but it can be done.

The greedy get powerful by scamming and then subjugating those who are either unable or unwilling to play within the system to rise up to their own desired level of greed and power. Or at least a better paycheck. I for one would rather depend on my own two hands and brain to support me and my family than to give it over to a system that hands me everything it thinks I should have.

There is the saying "Nice guys finish last", but I myself have known from early on that whatever system is in place can be manipulated, without beating down the next guy, in order to rise out of the ranks of Werko, given enough personal ambition. And we are talking about the states here...

It is disheartening to hear all of these anti-capitalist, socialist, and near-communist opinions, but as a capitalist that believes in personal responsibility to ones' self and to others I am relieved that in America we can still express anything we want and not be immediately censored (for the good of the people).

Originally posted by verbal kint
How do you think Exxon just returned the largest quarterly profit ($11,000,000,000+) in history (by ANY company)?

I know, this is a tough one. But please, think hard and we can figure this out...

Cheers,
-v


PS- Isn't there something wrong with this picture? Shouldn't we do something about it? Realistic ideas anyone?

www.time.com...

and don't forget... we're in the middle of a recession and flirting with a depression. ...my behind is a little sore. how's yours?

[edit on 8/2/2008 by verbal kint]

[edit on 8/2/2008 by verbal kint]

See what you do is sell a product that everyone needs and gouge it, and solicite auto makers to offer certain miles per gallon when they are really alot less.


either way they are not doing anything wrong

[edit on 3-8-2008 by Michael Pait]

Originally posted by TheRedneck
reply to post by Animal
You have a good memory! Yes, I did say that.

The thing is that it would probably increase the profits made by the oil companies, but then again, it would put to rest once and for all this silly crying that the oil companies are somehow 'ripping off' the American people by making a mere 8% profit margin.

The money made is made because they sell a lot of fuel products. Period. Would you expect the corner convenience store to make as much as the local WalMart? Of course not. WalMart sells many many times what the convenience store does. They also hire more people (let's not get into how they treat their employees; I know all about that), they pay more for the store space, and they have to stock more merchandise. They're bigger.

Likewise, oil companies are huge. They sell massive amounts of fuel, for cars, delivery vans, trucks, planes, motorhomes, trains, home heating, lawn mowers and chainsaws. The more they sell, the more they make. Blaming them for making money is like me crying to Toshiba that they charged me too much for this old laptop. Of course they didn't charge too much, because I paid it. If it had been too much, I wouldn't have paid it. End of argument.

Verbal kint had a nice little metaphor above, outlining the relationship between Thug and Werko. The one thing he left out is Ug, the big guy with the club. After a while, Werko decided he was having to do too much to get the leftovers, so instead of going hunting himself, he got Ug to beat up Thug and take his squirrel away. Werko had promised Ug he could have half of the squirrel. Ug decided that he needed more than Werko, so he ate the squirrel and gave Werko the leftovers and the dirty pans.

In the meantime, Thug woke up with a bad headache and decided to hide his squirrels from Ug and Werko from now on. So now Ug has decided he likes squirrels and wants more, and Thug doesn't seem to have any, so Werko gets forced to go get some squirrels to give to Ug. Ug keeps giving Werko less and less leftovers each time (but plenty of pots to wash), until finally Werko is hunting and washing for nothing (except to keep Ug from beating him over the head with the club). So Thug still has his squirrels, but he has to hide them and wash his own pans, Ug gets plenty of squirrels for doing nothing, and poor Werko gets to hunt squirrels and wash pans for occasional leftovers. But, hey, Thug got what was coming to him! Right?

This my friends, is socialism and nationalism. Ug is the government that is going to make sure those mean old oil companies don't make you work any more.

TheRedneck


[edit on 3-8-2008 by TheRedneck]

now do one where Thug manipulated and controls UG and tells him how to use his club and Werko has no idea because he is to busy looking for scraps or watching the latest news where they talk about celeb story's or how much good UG is trying to do for us (while secretly only caring about Thug ) And by the wau THUG has the same relationships with other UG's around the globe. This is the Fascist Business model in La la land U.S.A



and also i iam not startled by the profit they made ,

[edit on 3-8-2008 by cpdaman]

Media NearSecret : Exxon's Taxes Almost 3x As Much As Profits

According to CNN, Exxon Mobil once again reported the largest quarterly profit in U.S. history Thursday, posting net income of $11.68 billion on revenue of $138 billion in the second quarter.

That profit works out to $1,485.55 a second.

Buried in the story we also find that "In addition to making hefty profits, Exxon also had a hefty tax bill. Worldwide, the company paid $10.5 billion in income taxes in the second quarter, $9.5 billion in sales taxes, and over $12 billion in what it called 'other taxes.'"

..... In other words, Exxon Mobil paid $32.361 billion in taxes in the second quarter, which works out to $4,114 in taxes per second.


newsbusters.org...

reply to post by verbal kint

Have we forgotton how much oil has been, 25.00 compared to today. The oil companies have taken a loss for over 10 years now, has no one mentioned the federal taxes, 3.00 to one oil dollar, and how oil companies re-invest into finding more oil, which cost billions. And don't forget how 75 % of Americans own oil stocks in their 401k or retirement funds. This is the American way, your "Bad Guy" is not the oil companies..its Nancy Polise..Harry Reid...Obama...Clintons, all of whom have voted down finding new oil for over 10 years.
Try to reasearch your facts, we don't need more government in our lives, we need less.

reply to post by verbal kint
Well lets see hmmmmmmmmm our president is a "Oil man" and I would just venture to guess a couple things, GWB probably goes golfing or whatever the moron does with some of the Exxon Boys as well as it might be interesting to see how much Exxon Corporation gave to fund GWB's campaign.

The link below is a old article but explains how tightly our Politicians are connected to oil.

www.guardian.co.uk...

'You are looking at the biggest oil refinery in the world,' indicates LaNell Anderson. She refers to the edifice that is the 3,000-acre Exxon Mobil plant at Baytown, near Houston, producer of 507,800 barrels a day. Here begins a story of both dynasty and destiny, for it was on this spot in 1917 that the Bush family's oil connection was forged - where the Humble Oil company, which struck black gold in the Houston suburb of that name, took root, later to be- come the Exxon behemoth. Humble's founder, William Stamps Farish, went on to become president of Standard Oil. His daughter became a friend of George Bush Sr and his grandson William Jr was taken in 'almost like family' (said Barbara Bush) while campaigning for George Sr's entrée into Washington Senatorial politics in 1964. Farish Jr claims to have been the first man to whom Bush Sr confided his ambition to be president one day, and was last year named US Ambassador to London.

reply to post by disgustedbyhumanity


I couldn't have put it better! Have a star!

They're making record profits because we let them. If they're charging so much to make $11.66 Billion, they're they've overcharged by that much.

I don't mind companies making millions in profit, but when they start breaking the Billion mark, it's too much.

You think $4/gallon is bad - try living in the UK. You've got it easy as far as raw price is concerned. Costs me £110 ($220) to fill up my 3.5L SUV, and it can do 30 MPG which by your standards is good!

[edit on 3-8-2008 by mirageofdeceit]