what do you think about exxon mobiles 10 billion dollar profit in one quarter?

Question

if there making that much money why cant we get a break at the pumps? (pisses me off)

Answer 1

yeah me too. i watched BP Oil's CEO Lord John Browne on tv last night trying to explain how when oil prices rise, their profits do. he had a real bs explanation too like he really believed it was inevitable. LOL

Answer 2

Horses makes a good point. Let's walk for a couple days and teach Exxon something. 36 percent in 1 quarter?! No wonder gas prices are so high. I think I'll switch back to Chevron. At least they need the money. They lost most of their production platforms in the Gulf of Mexico in Hurricane Katrina. ..so did Shell.

Answer 3

Thats what happens when a limited resource is traded on an open exchange.

The oil companies have no way of manipulating the prices - oil cartels do, but not individual companies.

Interestingly, close to 30% of the price of oil is out of the control of the oil companies - it is the result of speculators, hedge funds and private investors who are trading oil contracts on the open market. If they stopped, the price would drop back down below $50, prbably below $40 a barrel overnight.

People are going to post about how the oil companies are ripping us off. They are going to say this out of ignorance because they no nothing of how the oil markets work and cant be bothered to learn

Answer 4

It's all a conspiracy by you liberals to make the oil companies look evil, The oil companies have nothing but the best interests in mind for all of us. Oil companies hate money and want to provide people with cheap energy more, that is why our gas is so cheap nowadays. That is why I am a Republican and voted for Bush, because I realize that corporations want nothing more than to provide cheap services to customers. All the stuff you hear on the news is just a conspiracy, most oil companies are going broke trying to provide you with cheap gas conspiracy, lies, monsters and goblins booooooooooh

Answer 5

in this surroundings, and through this marketing campaign, surely. we've applicants talking about taxing their earnings on excellent of the different tax it is already imposed. Do you do not forget that it takes $21 billion of funding and $100 and twenty billion of nice resources to create $10 billion? You human beings act like they went out with 4 men and a shovel, got here across some oil, jacked the price and keen to fleece the international. like it would not value something to pull this oil out of the floor even as they locate it...it is all only a standard operation that would not require a lot funds to be in contact. It expenses what percentage money to make an iPhone? and also you're prepared to pay how a lot for it? looks somewhat hypocritical to me. Then, they war to persuade us that they're going to pull decrease back the gas tax, and then use the earnings of oil organizations to pay for the shortcomings. Are you kidding me? Do you truly imagine it is what's going to take position? an organization is purely going to lie down and say, "particular, we are going to pay extra taxes, and that i will tell ya what, we are going to do it out of our earnings purely because we are staggering like that." NO corporation EVER ought to do this, and if we requested the different corporation to do it, the international ought to throw a in good structure. The tax strengthen will be handed to us, expenditures will stay a similar, and prefer they did not assume it, Washington will say, "properly...we tried to make it more cost-effective, yet those evil oil organizations..." like we are on a similar airplane or something. we are being robbed blind by our authorities 100x worse than any oil corporation--or any corporation in any respect--ought to ever wish to finish. stop making use of the oil organizations as a whipping boy, once you're genuine time and concentration might want to be spent on taming the spending habit and consistent screwing of their aspects by bureaucrats.

Answer 6

I think all the tax benefits and government subsidies they've had over the last 150 years should be paid back immediately, that's what I think!

And all current subsidies/credits/exemptions/deductions of ANY type for ALL oil companies should be suspended--indefinitely!!!

Answer 7

Two words: Price gouging

Answer 8

It's all bull****. The people at the top are always going to get theirs no matter what they have to charge us. We have no alternative until someone gives us one. We have to drive to get anywhere.

Answer 9

Greedy selfish jerks!!!!!!!!!!!!!!!!!!!!

Some computer genius figured out the if we ALL didn't use a vehicle for one day, they would suffer a drastic loss. If that's true, imagine 2 days.

Answer 10

It's great! I can't pay for oil for my house or gas for my car, but I'm SOOOO happy for them. NOT.