Exxon has record annual profit.
By on Feb 1st, 2007 at 1:19 pm
Exxon has record annual profit.
Exxon Mobil “posted the largest annual profit by a U.S. company — $39.5 billion. … The 2006 profit topped Exxon Mobil’s own previous record of $36.13 billion set in 2005.”
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We keep buying the gas…
February 1st, 2007 at 1:24 pmAnd yet appeals courts continue to decrease the damages awarded to Alaskan natives and fishermen for the Exxon Valdiz disaster.
February 1st, 2007 at 1:25 pmWhich, by the way, Exxon has not paid a dime of as yet.
Yeah, and they are going to tell me a little more tax burden on these kinds of companies are going to put them out of business! Bah!
February 1st, 2007 at 1:25 pmWindfall Profits tax, please. And, while we’re at it, how about an investigation into illegal price fixing.
February 1st, 2007 at 1:26 pmI thought Exxon has paid for some of the damages of the Valdiz disaster. Did they even help clean it up?
February 1st, 2007 at 1:27 pmCOngrats to Exxon on another great year!!!
February 1st, 2007 at 1:27 pmImagine that.
February 1st, 2007 at 1:30 pmLooks like they’re reaping the benefits of installing junior bush as their puppet.
Who says the War in Iraq is not a success? Certainly not Exxon-Mobil or the administration they’ve bought and paid for.
But it would have been a hell of a lot cheaper for Bush just to give Exxon-Mobil that $36BB than absorb the costs we’ve borne there to date…..3000+ American lives, $2TT+, 100’s of thousands of dead Iraqi’s and our international reputation.
February 1st, 2007 at 1:32 pmThey paid for (some of the) cleanup, they have not paid the punitive damages award to Alaskan natives and fishermen, to the best of my knowledge.
February 1st, 2007 at 1:32 pmThey have continued to appeal, and courts continue to whittle away at the damage award.
“I hope we shall crush in its birth the aristocracy of our monied corporations which dare already to challenge our government to a trial by strength, and bid defiance to the laws of our country. â€
–Thomas Jefferson
On the side of economic elites, we have Roger. On the side of the people we have Thomas Jefferson. I’m with Jefferson.
February 1st, 2007 at 1:34 pmI wonder how many shares of Exxon one would have to own to have the dividend paid outweigh what they’d spent on gas for the year? Any MBA’s or Accountants/Stockbrokers in the house?
February 1st, 2007 at 1:35 pmYeah, those poor companies suffering so much.
February 1st, 2007 at 1:35 pmConcerning Bush wars…. fact of the mater is that things are going very well, if you will says Cheney (the petro puppet).
February 1st, 2007 at 1:40 pm…the image from the Simpsons during Lisa’s poem about America, which shows Congressmen/women morphing into pigs eating money from a trough…
And the War goes on.
And the Global Climate Change lies continue.
American Fascism aka Corporatism is shaping up quite nicely.
February 1st, 2007 at 1:43 pmIs this the second year in a row of record profits for Exxon? Or was that another oil company which posted record profits……..
February 1st, 2007 at 1:50 pmTake the money back.
We need it more than Exxon does.
February 1st, 2007 at 1:55 pmRecord profits? Then it’s time for Bush to give them another tax break. Bring it on.
February 1st, 2007 at 1:57 pmFact of the matter is that when you include cost of military that largely is used to secure petro industry investments plus environmental damage, the cost of oil fare exceeds alternative and renewable sources of energy.
February 1st, 2007 at 1:57 pmtroll alert=escaped mental patient
sarcasm/OFF
February 1st, 2007 at 2:08 pmtroll alert = just another Republic Bushbot who thinks we haven’t seen his clever “soldier authority” post here before.
There is a war on you know?
February 1st, 2007 at 2:19 pmWith live bullets?
People enlist.
Why don’t you?
We need the oil. Unless we do as other industrialize nations are doing and start building more nuclear power plants and quit burning fossil fuels, we’ll continue to need the oil and we’ll continue to heat the globe.
Oh well.
February 1st, 2007 at 2:22 pm#19 post …. isn’t this basically the same verbage we heard earlier from some Sgt. Stryker?
February 1st, 2007 at 2:32 pmMan, Exxon needs to show W their appreciation, maybe a new weed whacker for the ranch.
February 1st, 2007 at 2:41 pmCOngrats to Exxon on another great year!!!
Comment by Roger_Roger
Amazing, Rx2 likes to be screwed on the gas he buys.
February 1st, 2007 at 2:44 pmTroll alert is sgt stryker rachel. The troll of trolls, Everybody say hello to Joanie Doe.
February 1st, 2007 at 2:48 pmhttp://www.sfgate.com/cgi-bin/article.cgi?file=/c/a/2006/11/01/MNGMIM3RAG1.DTL
“That’s really an under-told story — we’ve stopped the reconstruction,” said Frederick Barton, co-director of the Post-Conflict Reconstruction Project at the Center for Strategic & International Studies think tank. “There are some things we’re still finishing up, but we’re wrapping up, and we’re stepping back. It’s really a tragedy.”
Troll alert, Debunked again.
February 1st, 2007 at 2:51 pmBTW Gates wants up to 92,000 more troops. And if we add support troops that goes even higher.
The support troops today are generally contractors. You know privatization that is supposed to lower costs (but really hasn’t)
February 1st, 2007 at 2:53 pmDon’t you see? This means that the economy is doing great! We can’t raise the minimum wage now, or else it would hurt this country’s great businesses, like Exxon Mobil!
February 1st, 2007 at 2:57 pmHope the company’s top execs enjoy their blood money. Someone should, and it sure won’t be any of us!
February 1st, 2007 at 3:02 pmI love it how the press reports this stuff and how the masses eat it up.
Press: “Exxon has another record year!”
People: “Exxon are evil capitalist pigs! Tax them more!”
The REAL reason Exxon makes what appear to be enormous profits is because they are an enormous company. The truth is other companies, like Pharmacuetical compaines, get MORE goverment subsidy/tax breaks and have EVEN LARGER profits!
That is, real profits are corporate ROI, or “Return on Investment”. Yes Exxon makes a lot of money, but as a function of how much money it took Exxon to make that profit, Exxon is not that profitable. Pharmacueitcals on the other hand, are the real Evil Empire. If you think Exxon should be taxed more, then so should companies that make even higher ROI than Exxon.
February 1st, 2007 at 3:21 pmThe REAL reason Exxon makes what appear to be enormous profits is because they are an enormous company.
Comment by theRealist
Just a small change in that statement….
The REAL reason Exxon makes what appear to be enormous profits is because they are an enormous company that has enormous government subsidies.
February 1st, 2007 at 3:24 pmMiss Manners to Exxon: Be sure to send Bush, Cheney and the entire Republican party a thank you card for everything they did to ensure your record annual profit.
February 1st, 2007 at 3:36 pmWhere is “fat bastard?”
February 1st, 2007 at 3:40 pm#32 – theRealist,
February 1st, 2007 at 3:51 pmThe sentence in the article contains the following words:
“posted the largest annual profit by a U.S. company”. I would expect that that excludes Pharmaceutical companies.
OK, children, gather round …
Can anyone tell me what Exxon’s revenues were? Can anyone tell me what percent of revenues those profits were? Can anyone tell me what the typical profit margin is for corporations, and how that compares to Exxon?
You will see that profits were enormous, because revenues were enormous, so profit margins are thin.
We have private companies run strategic economic / military resources, because they do it far better and far cheaper than the government could, so before you start waving the Venezualan flag, ask if you rather pay $20 per gallon from the government, so that NO ONE makes a profit.
February 1st, 2007 at 4:22 pm#17 – If they get any more tax breaks, the treasury department will have to send THEM money!
February 1st, 2007 at 4:28 pmWhile it is fun to watch the market go up and down for Oil, it is equally as fun to watch you nim rods complain that a company that has no control over the price of a barrel of Oil makes money when that price goes up.
The fact that I sell farm equipment makes it doubly fun to watch your moron Dem leaders in congress continue to inflate corn prices by pushing Ethonal created from corn. It is now over $4.00 a bushell and I am having a record year. Thanks once again to the Dems for inflating the price of everything we will eat coming up and thanks for lining my pockets from your stupid decision to use Corn for Ethonal instead of a cheap consumer friendly product.
I guess saying “We want to help the corn farmer” sounds much better politically then “We should use wood chips, or straw for ethanol”.
Just wait until the beef farmers start to scream about the price of there feed (from corn). Really just wait for Saudi Arabia to open up the pumps to reduce Oil prices to simply kill the Ethonal industry in its tracks. Pipe dreams are very popular these days!!
February 1st, 2007 at 4:28 pmJason,
The profit margin for Pharms is around 25%. I don’t know what it is for oil companies. I do know the universe has a way of returning whatever we put out there. If we put out negativity, it will return, if we put out positive things it will return. The oil compainies will get whatever they have been giving.
February 1st, 2007 at 5:08 pmHendler nobody needs to wave the Venezuelan flag to point out that citizens of that country pay 19 cents a gallon for gas. It’s just a fact.
February 1st, 2007 at 5:19 pm#40 If you like Venezuela’s form of government, your always welcome to move on down there and fuel up on $.19 gas.
February 1st, 2007 at 5:26 pmNo, Roger, I would prefer our form of government the way our founders had it in mind. Our founders were deeply suspicious of corporations. Corporations couldn’t even contribute one dollar to any political campaign for about the first 100 years of our country’s history. I think they have far too much political power today and I think they should be paying more taxes, regulated more and forced to return some of their profits to the communities in which they operate since those communities have given them all kinds of breaks. I think Exxon should have been forced to clean up it’s mess in Alaska. And, I think oil corporations should be investigated by congress for anti-trust violations and price fixing.
And, I would bet dollars to donuts that the vast majority of the American people agree with me and not you.
February 1st, 2007 at 5:44 pm#42 That is a very anti-Free market statement you made. Furthermore, being against free markets and capitalism is very un-American and very S O C I A L I S T. Why do you feel the America should completely shift away from Democracy and the Free Markets?
February 1st, 2007 at 5:49 pmRoger, why do you insist on silly strawman arguments. Nothing I have ever posted in my life could be construed to be anti-democratic. There is nothing at all unamerican about favoring a regulated market and that is NOT socialism — it’s regulated capitalism. Again, socialism means the government controls, owns and operates the means of production. I like a system of regulated capitalism combined with democratic socialism, western European style. That’s where I stand. I like a market environment but not for “natural monopolies”.
February 1st, 2007 at 6:52 pmcan anyone give me a ballpark in response to my #11 post?
February 1st, 2007 at 7:23 pm#43 you are kidding I hope. Just ask the guy in the trenches! both here and in the ‘war on terror’.
February 1st, 2007 at 8:13 pm#44 -tom baker,
February 1st, 2007 at 8:15 pmDo you drive a Hummer or a Prius?
Maybe the reason they pay so little for gas is a demand issue. So few can afford it. They may be lousy with oil, but no one can afford anything to put the oil in, like cars. 47% of the population of Venezuela live in poverty.
February 1st, 2007 at 8:29 pm#44 – tom baker,
February 1st, 2007 at 8:30 pmSince XOM returns $1.28 per year, the answer would range from 234 shares to 2345 shares if you drive 15000 miles per year. The ROI sucks as headquarters sucks up most of the shareholder’s profit in Exec benefits and salaries.
If you like Venezuela’s form of government, your always welcome to move on down there and fuel up on $.19 gas.
Comment by Roger_Roger #41
Rotten_Roger,
…you’re a typical al Crackkker…
…who can’t stand the fact that Hugo Chavez has taken back his country’s natural resources…
…for the benefit of his countrymen/women…
…and is kicking your ‘gringo’ a*s out of his country…
…for mistreating his people all these years…
…Right On Hugo!
February 2nd, 2007 at 10:57 amThanks Walt – I was trying to get a handle on how much success on Wall Street is translatable to success on Main Street, if you follow me. I wonder where the average IRA contributor stands in terms of gains made on “ownership” of Exxon stocks, or participation in funds that have Exxon in their mix.
I’m sure companies like Exxon do a bang-up job of squirrelling those revenues away in ways that avoid dividend payment, taxation, or regulatory scrutiny.
February 2nd, 2007 at 12:16 pm#50 – Big Papa:
You are clueless. I am Venezuelan. Hugo Chavez is two things: an excellent politican and a complete theif. He is running that country into the ground.
http://travel.state.gov/travel/cis_pa_tw/cis/cis_1059.html:
The country has the highest per-capita murder rate in the world. Armed robberies take place in broad daylight throughout the city, including areas generally presumed safe and frequented by tourists. Well armed criminal gangs operate with impunity, often setting up fake police checkpoints. Kidnapping is a particularly serious problem, with more than 1,000 reported during the past year alone.
Big Papa. I’d like you to go there. Tell me what kind of job Chavez is doing…
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