Look at these two headlines!

Exxon Profit Down 33% as Prices Fall

www.nytimes.com...

Exxon Mobil Sets Record With $45.2 Billion Profit
Exxon Mobil shatters US record with $45.2 billion annual profit despite year-end oil plunge

abcnews.go.com...

If you read the story you can see the spin.

This is right out of "1984".

Look like abc link changed...to

Exxon Mobil Shatters US Record for Annual Profit

abcnews.go.com...



[edit on 30-1-2009 by whiteraven]

Not seeing the "issue" here. Their 4th quarter profits were down 33%, while their Annual profit was $45.2Bn

Two different animals - Annual and Quarterly profits.

What gets me is that Despite their 4th quarter being down 33% they were Still able to realize a $45.2Bn profit over the course of the year... shows how much they were raking in over the previous three quarters. Hand over fist enough so while gas was $4+ a gallon to Easily absorb the year-end slump in prices.

The idea is they are the same basic story, with the spin on the emphasis on yearly or quarterly.

So if ABC news spins it as a windfall profit...which it was....it brings disfavour to Exxon in the eyes of the public.

The NYT emphasis was on the drop in the final quarter...only part of the picture...yet bringing an empathetic outlook toward Exxon and big oil.


So then one needs to ask why?

NYT must be in favour with oil...is it because Slim has interest in Exxon, Mexico, Mexico's biggest export, and a big share in NYT?

The New York Times Company announced last night that it had cut a deal with Mexico's Carlos Slim, the world's second-richest man, for a $250 million loan. Slim will receive common shares over six years, at the end of which he will own 17% of the corporation. But he will not gain any representation on the company's board or any of the special voting shares held by the Sulzberger family.

The agreement comes as the company, which owns the Times and the Boston Globe among other properties, struggles with declining advertising revenue and faces a deadline to pay back $1.1 billion in debt. In recent months the company has tried to sell its stake in the Boston Red Sox, and it will borrow up to $225 million against its new office building on New York's 8th Avenue. Slim, who approached the Times in November, will also receive 14% interest on the loan.

www.newser.com...


Question..what is Mexico's biggest export?

When Mr Slim converts warrants granted as part of the financing package, it will cement his position as one of the publisher’s biggest shareholders

www.ft.com...




[edit on 30-1-2009 by whiteraven]

Originally posted by whiteraven
Question..what is Mexico's biggest export?

Answer: Cheap Labor.

anywho, while I think that it's outrageous that big oil flaunts in our faces these insane profit margins, effectively flaunting the obvious price gouging going on. It after all is our fault. We have bought energy inefficient vehicles and demand no alternative fuel vehicles from our automobile manufacturers.

What is astounding is that the internal combustion engine used to be a flex fuel power plant, able to run on gasoline, kerosene, & ethanol. Today try filling your tank with kerosene and see what comes out your tailpipe.

reply to post by whiteraven


I gotta laugh at this. My fiance is working for Conoco Phillips,at a refinery, if that is what you want to call it, work that is. He got injured in November when a welding machine fell on his foot. He still has to report to work every day, since they do not want to pay him for workers comp.

The company has paid for all his medical expenses to date, and they are trying as hard as they can though, to get him to quit. The company makes it very uncomfortable for him to be there.

He may have permanent damage to his foot, not allowing him to ever be able to even put a shoe on.

We have already been contacted by the legal end of this, by the company as to being paid out for what he has been through.

Record profits by oil companies, in my opinion, are obscene in the face of a person loosing the use of a foot.

I'm sure they will stick it to my man, for being hurt on the job.

Oil has been a cutthroat deal from day one. Only recently do you see see saftey measures in place as it was cheaper to do that then large payouts to employees killed or injured on the job.

Oil is very very important to my local economy so I follow it with great interest.

The record profits line up well with those who hold the power as we are seeing.

Overall, I am for oil but we need to break up some of these giants and allow some smaller companies to thrive in order to dissapate the power structure in this industry.

PS

Some of these profits need to be diverted to clean up of damaged land from oil exploration and drilling as well as take care of familys who have lost loved ones or those who have been injured.


[edit on 30-1-2009 by whiteraven]

[edit on 30-1-2009 by whiteraven]