Oil at or near $90-$100 for a barrell of crude but the hard thing for me to swallow is the annual profits that Exxon has posted for 2007. The last two years they have posted 80.1 BILLION in PROFIT!

http://www.msnbc.msn.com/id/22949325/

HOUSTON - Exxon Mobil Corp. posted the largest annual profit by a U.S. company — $40.6 billion — on Friday as the world’s biggest publicly traded oil company benefited from historic crude prices at the end of the year.

Exxon also set a U.S. record for the biggest quarterly profit, posting net income of $11.7 billion for the final three months of 2007, beating its own mark of $10.71 billion in the fourth quarter of 2005.

The previous record for annual profit was $39.5 billion, which Exxon Mobil had in 2006.

You must be a liberal, a socialist or both.
It's a free and capitalist country...if you don't like it:

Buy Exxon stock so you can participate in the profits.
Get a better job so you can afford to pay for gas for your new G8
Start your own oil company.
Move to Venezuela to live with your friend Hugo.

None of the serious economic minds in the US today begrudge Exxon, or anyone elses profits. Remember that what plays big on the nightly news often times has little behind it beyond sensationlaism - big numbers, little analysis. They are really not in the business to provide information, they are in the business of selling commercials so thay can be on the air. If we are to gore the oil companies now, we may come after your economic niche next. In real dollars, gas is till cheaper than it was in 1978.

You must be a liberal, a socialist or both.
It's a free and capitalist country...if you don't like it:

Buy Exxon stock so you can participate in the profits.
Get a better job so you can afford to pay for gas for your new G8
Start your own oil company.
Move to Venezuela to live with your friend Hugo.



OK, thanks for the nice conversation, I have a 401K which happens to own Exxon stock so I guess that counts.

I have no problem with business' making money, that's what they should do, I have no problem paying gas thanks, I have a great job in the medical diagnostics field.

I don't know HUGO but if he's got cheap gas/ethanol cheap we should hang out.

Next thing you'll say is ride a bicycle 35 miles to work.

I do have a problem with a company that complains about oil prices and refinery expenses yet posts the largest Net Profit for a company EVER. Not GM, GE, Microsoft, IBM, etc. Now I know I don't have to buy from Exxon, I don't but I have to buy gas it is not an option. If GM would come out with a better diesel/hybrid option I would jump on that.

Just thought I'd start some nice conversation but since you want to start name calling I'll pass.

Oil at or near $90-$100 for a barrell of crude but the hard thing for me to swallow is the annual profits that Exxon has posted for 2007. The last two years they have posted 80.1 BILLION in PROFIT!

http://www.msnbc.msn.com/id/22949325/

HOUSTON - Exxon Mobil Corp. posted the largest annual profit by a U.S. company — $40.6 billion — on Friday as the world’s biggest publicly traded oil company benefited from historic crude prices at the end of the year.

Exxon also set a U.S. record for the biggest quarterly profit, posting net income of $11.7 billion for the final three months of 2007, beating its own mark of $10.71 billion in the fourth quarter of 2005.

The previous record for annual profit was $39.5 billion, which Exxon Mobil had in 2006.

Oh no! A company making profit! :stickpoke:

Good for Exxon. If they can find ($$$) and produce gas for the same price as all of their competitors and make a huge profit, wonderful! They're doing something better than everybody else and I'll gladly pull in to fill up at their station (if their prices are the same as competition). Why? Because I know that Exxon is going to use their profits for finding more and more oil everyday to keep our supplies high (higher than they would be otherwise) and prices low as well as funding promising alternative fuels, all so that they can make an even bigger profit next year and do even more research. If I go with a different company with lower profit margins, I know that more of my money is going into actual production and less into research for tomorrow's fuel.

OK, thanks for the nice conversation, I have a 401K which happens to own Exxon stock so I guess that counts.

I have no problem with business' making money, that's what they should do, I have no problem paying gas thanks, I have a great job in the medical diagnostics field.

I don't know HUGO but if he's got cheap gas/ethanol cheap we should hang out.

Next thing you'll say is ride a bicycle 35 miles to work.

I do have a problem with a company that complains about oil prices and refinery expenses yet posts the largest Net Profit for a company EVER. Not GM, GE, Microsoft, IBM, etc. Now I know I don't have to buy from Exxon, I don't but I have to buy gas it is not an option. If GM would come out with a better diesel/hybrid option I would jump on that.

Just thought I'd start some nice conversation but since you want to start name calling I'll pass.

OK...OK...I apologize for calling you a socialist...and no way would I suggest that you ride a bike to work...what do you think I am...a tree hugger? (oops another name!) I think that you should drive to work in your new G8GT filled with EXXON premium unleaded! I'm waiting for the GXP so I can buy even more EXXON premium unleaded!! Bottom line...I think that paying $3.50 to move a 3800 pound object that holds 5 people for 15 miles is dirt cheap. What do you think that you would have to pay laborers (even illegal immigrants) to carry that 3800 pound object and you and your 4 liberal friends for 15 miles? (oops another name...sorry...bad habit!) Gas is cheap even at $5 per gallon! By the way...who you voting for for president...Billary or Obama? I was a Giuliani fan but now I guess I will be voting for Romney. By the way...Hugo from Venezuela is Hugo Chavez, dictator and hoping to be president-for-life...a la Castro!

All good points....

Guess I will pray every one comes down with cancer, AIDS and diabetes this year so I can make more money at work.....to put gas in the G8.

Romney or Obama haven't made up my mind yet.....

By the way Exxon mainliy refines oil they don't pump nearly as much as they buy from the middle east, so I'd hold my breath on them doing any actual investing in discovering more oil.

You guys want to continue on your own or can the rest of us jump in too? Just be happy you're not taxed to the tune of $5+/gallon like they are in England, and most of the European Union nations! $7/gallon for gas would probably put a dent in the Sunday cruise in the new G8 GT?!?:gears:

More profits more money to the U.S. treasury…….Oil is the engine of the Worlds economy and our most efficient energy source and will be for the foreseeable future. Each decade the known oil & gas reserves increase. Exxon is a global company (not all profits made in USA) and profits allow it to create jobs, explore, upkeep and R&D. Oil is bought and sold on a world market and how well you do that and how efficient you are in your operations, including production and transportation, governs your bottom line.

And we are swayed by the media to just look at total $s; let the media look at return on sale/assets/investment/risk. I feel that other things besides Exxon’s profits also affect the price of gas, like gov regulations on where we drill, regulations on refineries (i.e. no new capacity by building refineries results in USA importing gasoline), taxes…and some want to tax Exxon more…It is reported that USA has the highest corporate income tax bracket in the world...my two cents...back to the GT...

Guess I will pray every one comes down with cancer, AIDS and diabetes this year so I can make more money at work.....to put gas in the G8.
You took it way too far. Wishing for the economic success of the economy and accumulation of personal wealth is NOT wishing for the poverty of everybody else, just like wishing for socialism isn't wishing for the poverty of absolutely EVERYBODY. That's just what happens.

By the way Exxon mainliy refines oil they don't pump nearly as much as they buy from the middle east, so I'd hold my breath on them doing any actual investing in discovering more oil.
It's a moot point. They obviously have an efficient method for whatever they do and every company is going to invest a hefty portion of their profits into making their processes even more efficient.

Looks like a lot of that money is staying in the US huh?

Net production of oil/natural gas is 27% from the US
Refinery throughput is 31% from the US
Total sales is 38% from the US
Capital and Exploration Expenditures is only 18% in the US

The oil cartel is controlling the supply to create higher prices and more profit. The oldest trick in the book in sale of anything.

Hey, I've heard said on CNBC that the true cost of oil is around $50/barrel and that with a stable dollar the producers would be happy with $60-65/barrel. The speculators are the ones running up the price to make the $$ off our perceived idea there is a shortage. If there is a shortage, why did OPEC just come out this week saying there is plenty of oil on the market, and there is no need to up production? If they could make more $$ by pumping more oil, don't you think they would?