Exxon set to hit record profits.
By on Jan 24th, 2008 at 8:10 pm
Exxon set to hit record profits.
With a flailing U.S. economy and skyrocketing oil prices, Exxon Mobil is “within striking distance of setting an all-time profit record - again.” The company is expected to earn $39.2 billion for 2007, “which breaks down to the company earning about $75,000 a minute.”
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One would think they could pay the outstanding cleanup bill for Prince William Sound.
January 24th, 2008 at 8:14 pmI guess this is supposed to mean that the economy is doing fine! That is if you happen to be the CEO of Exxon/Mobil.
January 24th, 2008 at 8:14 pmCan anyone say price gouging? War profiteering? Price fixing? Collusion?...
How many politicians a minute does that calculate to?
January 24th, 2008 at 8:25 pmIs the news of the rebate checks supposed to soften the blow to this obscenity?
January 24th, 2008 at 8:30 pmFrom your wallet to their coffers.
January 24th, 2008 at 8:42 pmMission Accomplished Cheney/BushitCo !
Seems like they should have enough money to rebuild the refineries damages by Katrina; which I believe was the original catalyst for the price hike.
January 24th, 2008 at 8:43 pmHope you all got a kiss from Exxon, cause they've sure been f**king you.
January 24th, 2008 at 8:45 pmA little off topic but, everyone should read this. Nice buildup to an enlightening ending. http://www.fromthewilderness.com/ free/ ww3/ 110102_wellstone.html.
January 24th, 2008 at 8:48 pmThe company is expected to earn $39.2 billion for 2007, “which breaks down to the company earning about $75,000 a minute.â€
Notice the language. They are appropriated by the company's owners because they own the company. Therefore, Profits are not earned.
January 24th, 2008 at 8:51 pmThe surge is working!!!!!!
For the oil companies......
January 24th, 2008 at 9:01 pmI cant recall the last time I bought gas from an Exxon station.
January 24th, 2008 at 9:03 pmdefinitely chafed on this end.
January 24th, 2008 at 9:06 pmGood thing Cheney and his secret team wrote our national energy policy. They were certainly looking out for us...
January 24th, 2008 at 9:39 pmWow, nobody saw that coming.
January 24th, 2008 at 9:44 pmGOP debate could be crucial for candidates
Who Won the MSNBC Republican Debate in Florida?
http://www.youpolls.com/details.asp?pid=1629
.
January 24th, 2008 at 9:54 pmAnd it is no secret to anybody where these huge profits came from. They came from the average American's pocket who pumps gas everyday at the mercy of of these big companies.
January 24th, 2008 at 10:22 pmThere needs to be a serious excess profits tax, especially in time of war.
Similarly, in times of war, defense contractors should be confined to 1% profits over gross revenues, and the highest pay+benefits in a defense contractor should be no higher than the Presidents. Felony for violations, plus seizure of assets and nationalization of the corporation.
January 24th, 2008 at 10:25 pmAin't that something? Exxon's cash cow booms while we are in a recession.
January 24th, 2008 at 10:27 pmIs Exxon paying dividends on these profits, or are they going into the pockets of executives?
January 24th, 2008 at 10:30 pmIf war is about securing the oil, then the oil companies should carry the biggest share of the war cost.
January 24th, 2008 at 10:38 pmWho didn't see this coming? *keeps hands down* I sure the hell did....
January 24th, 2008 at 10:44 pmWhy the pretense, Cheney and Bush should just fellate every oil company CEO on national television.
January 24th, 2008 at 10:56 pmThey are paying dividends, but the biggest ones go to the scumbag executives, like the $400 million severance package to former CEO Lee Raymond. And the Repugs are still protecting the subsidies and tax breaks for this corrupt industry as well as others. Why pay dividends from your profits alone when you can get the Repugs to funnel additional taxpayer money to you?
No one should EVER buy ANYTHING from Exxon-Mobil and encourage anybody they know not to either. What a bunch of dirty, corrupt bastards.
January 24th, 2008 at 11:07 pmOne of the benchmarks for Iraq is / was "Distribute Iraqi resources equitably. "
Now rather than the easy snark that the resources were distributed to Haliburton, et al. I'd like to ask if the WH is going to help the oil companies distribute their resources equitably ?
What's good for the goose.....
January 24th, 2008 at 11:14 pm*this is just 1....oil company. x ?????
January 24th, 2008 at 11:21 pm"Seems like they should have enough money to rebuild the refineries damages by Katrina; which I believe was the original catalyst for the price hike.
Comment by erock — January 24, 2008 @ 8:43 pm"
There is NO reason for the original price hike. They have dozens of refineries that have been out of business. It is called price fixing. If our politicians suddenly become defenders of the people you will find this out. They actually use FEWER refineries when the demand is high.
January 25th, 2008 at 12:20 am"Hope you all got a kiss from Exxon, cause they’ve sure been f**king you.
Comment by RUCerious — January 24, 2008 @ 8:45 pm"
They DID give me a coupon for another petroleum product...Vaseline.
January 25th, 2008 at 12:21 amThey DID give me a coupon for another petroleum product…Vaseline.
Comment by Sabyen91 — January 25, 2008 @ 12:21 am
Thanks for tonight's "ewww" moment!
January 25th, 2008 at 12:32 amSorry, Jane. I still had to pay full price minus 50 cents.
January 25th, 2008 at 12:42 amSorry, Jane. I still had to pay full price minus 50 cents.
Comment by Sabyen91 — January 25, 2008 @ 12:42 am
Jeez, the Vaseline wasn't even FREE?
January 25th, 2008 at 12:45 amNope, I had to pay for the reaming! But that isn't surprising, is it? :)
January 25th, 2008 at 12:47 amI was using it for lip balm until the Repubs came around.
January 25th, 2008 at 12:48 amHypothetically speaking...
If you knew that someday you would become the inheritor of significant stock in this industry. Say that maybe several generations had continued to grow this basically since arriving. When some of it fell mostly by accident and shared DNA, into your lap, what would you do?
January 25th, 2008 at 12:51 amI would live well and give a ton to charities I like, dbadass.
January 25th, 2008 at 12:52 amEven Nader had stock in Occidental Oil.
January 25th, 2008 at 12:53 amRelated topic...
Repeat after me...
January 25th, 2008 at 12:55 am"THE BUSH RECESSION"
THE BUSH RECESSION
THE BUSH RECESSION
THE BUSH RECESSION
THE BUSH RECESSION
No, TC, recession can happen to any president. Stagflation has only happened with two presidents. Reagan and W. It is the result of militant trickle down.
January 25th, 2008 at 1:03 amAnd any economist can make suggestions to get us out of a recession. However, any suggestion made during stagflation has to either address the inflation or the stagnant economy. It appears they are going after the stagnant economy right now. It will be interesting to see how high the inflation goes.
January 25th, 2008 at 1:05 am#38: PCE core inflation at 2.2%.
There is very little inflation.
January 25th, 2008 at 1:18 amOh, shut up, muckdog, inflation is the highest it has been in 14 years. You weren't alive when Reagan was president, were you?
January 25th, 2008 at 1:26 amBy the way, idiot, inflation is over 4 percent. Is that hard for you to understand?
January 25th, 2008 at 1:29 am.
Reg. Unleaded = $3.45 = Billions of "change" for corporations and less in Americans savings.
CORPRATISM = FASCISM
.
January 25th, 2008 at 1:31 amThis news is sure to go over well with voters during a recession.
Bye bye, Republicans, we hardly knew ye.
January 25th, 2008 at 2:46 amBy the way, idiot, inflation is over 4 percent. Is that hard for you to understand?
Comment by Sabyen91 — January 25, 2008 @ 1:29 am
Muckdog is not an idiot. He is a paid liar.
January 25th, 2008 at 2:46 amYou don't hear any out cry from Americans with this information. It was so easy for the Bush Administration to rob Americans no wonder the Oil Companies just get stealing. Now when you get the 300 dollars George is giving you remember don't ask for anymore because Bush has given the Iraq men jobs at about 4000 dollars a month with US taxpayers dollars. I had to laugh when the US gave Iraq 280 billion dollars which was stolen from the bank in the Green Zone and the US wouldn't investigate the robbery. But Bush asked Congress for more money to cover the lost. Yes now Bush is making a deal with Iraq to seal the corrupt contacts he made with Iraq in hopes the new President will be boxed in. Hillary explained it but as usual Americans could care less.
January 25th, 2008 at 3:06 amWe see people of Canada buying up foreclosure homes and even Spanish people are buying up property.
We should put a sign out USA FOR SALE, because thanks to the Bush Administration it is.
Hypothetically speaking…
If you knew that someday you would become the inheritor of significant stock in this industry. Say that maybe several generations had continued to grow this basically since arriving. When some of it fell mostly by accident and shared DNA, into your lap, what would you do?
Comment by dbadass — January 25, 2008 @ 12:51 am
HYPOCRITICALLY speaking..
Call for an end to the modest inheritence tax and give it the misnomer "death tax." But only if I was Grover Norquist's butt buddy.
January 25th, 2008 at 4:12 amI think a better way to approach this would be to determine how many gallons of ExxonMobile gas were pumped and calculate that into the equation with the $39.2 Billion. Then we'll know exactly how much the price of gas should be and how much we are being gouged. Anyone?
January 25th, 2008 at 6:03 amHmmm....An oil company reaching "record profits" while the rest of the country flounders...who woulda thunkit? *scowl*
I think the oil companies should immediately start charging $8.00 a gallon for gasoline. Why? Because necessity is the mother of invention, and the sooner we are forced to get off the petroleum teat (say, by astronomical prices) the sooner alternative fuels will be developed for mass use.
Raising the price only gradually doesn't force us to look for other fuel sources and quit buying gas, it just leaves us feeling like (h/t) RUCerious stated so eloquently in #7.
January 25th, 2008 at 6:47 am.
.
.
.
.
in a scandal vote in the senate of Rome, Romano Prodi was removed from office. See the shocking pictures.
January 25th, 2008 at 7:44 amJeez, what's all the hubub up in here? You're supposed to get a few hundred dollars rebated. That should quiet the mob.
--Marie Antoinette
January 25th, 2008 at 7:57 amhmmm 39.2 billion ....$600. How much was that other little "tax rebate" Bush threw out way back when? $500-1000. So he spent $1100-2200 on the people who needed it. And then allowed Big Oil to rape us for huge profits while he was around. Think about it, any tax rebate given to you has either been pumped into your gas tank, or burned by your furnace 10 times over. Yeah, history is going to be REAL KIND to this @sshole.
January 25th, 2008 at 8:19 amAnd if Giuliani wins...,he will make Cheney looks like a saint. Giuliani made a big fortune out of 9/11...
Imagine him being the president. As a war monger and likudite...he will make ton of money out of coming wars.
Romney looks nicer, but they all,except of R. Paul, want more wars, less taxes..otherwise Al-Qaeda will come to get you.
Romney wants to double the defense spending,but keep giving coporate taxes..
January 25th, 2008 at 8:28 amAnd when the question was given to McCain ..about how can you continue wars and defense spending and cut taxes in the same time,McCain injected Al-Qaeda fear..but never answered the question directly....
Is the news of the rebate checks supposed to soften the blow to this obscenity?
Comment by had enough — January 24, 2008 @ 8:30 pm
Has anyone articulated who it is that actually pays the costs of sending out those rebate checks?
The money being paid to tax payers is coming from TAXPAYERS.
The result will be the APPEARANCE of stabilizing home prices and the rise in stock prices - while the value of the dollar collapses.
If your home price remains constant, and your stocks rise 5%, while the dollar drops another 20%, you lose - while the news media and the (s)elected politicians tells you you're winning
But at least you're the one paying for it all - to the benefits of the banksters and the oil barons, and of course, the foreign country that benefits the most from it all.
January 25th, 2008 at 8:56 amName the politician from the Republican or Democratic Party who will be available for (s)election this fall who is NOT a member of the CFR.
Good luck.
January 25th, 2008 at 8:58 amFor sure they will be included in tax refunds as a result of the housing crisis.
January 25th, 2008 at 8:59 amDavid Rockefeller IS Exxon:
In order to determine actual Rockefeller family control over Exxon and the other offshoots of the original Standard Oil Trust (Mobil, Standard of Indiana, Standard of California, Chevron, Sohio, Phillips 66, Marathon, et al)we must gather all of the pieces of the puzzle we can find and carefully fit them together. In his testimony before Congress, Dilworth revealed that the Rockefeller family has approximately $324,600,000 worth of oil stock. This represents an average of about 2 % in each of the four giant oil companies. But,in 1966, testimony before the Patman Committee indicated that the nine Rockefeller family foundations also controlled an average of about 3 % in the Standard Oil Trust descendants. This known total of 5% would give the Rockefellers effective working control over the four giant corporations:
In addition, there are shares held in trust by the Rockefeller banks, insurance companies, universities and other groups whose boards of directors and trustees are interlocked with the Rockefellers.
And yet, incredibly, oil is not even the Rockefellers' biggest business. That honor is reserved for international banking. The Rockefeller family banks are the First National City Bank and the Chase Manhattan Bank. The Chase Manhattan is the third largest banking establishment in the world; and while only number three', it is by far the most influential.
The largest bank in the world is Bank of America in California, inventor of the bank credit card, Bank Americard, which now has 39 million cardholders worldwide. Bank of America became a giant through branch banking in California, where it has over 1,000 offices. Until recently, however, when it linked is overseas operations with the Rothschilds of Europe, the Bank of America lacked international horsepower. Now it too has joined the internationalists' crusade for World Government.
Chase Manhattan was created by the union of the Rockefeller-owned Chase Bank with the Kuhn, Loeb controlled Manhattan Bank. The marriage has been a huge success for both families; in 1971 Chase Manhattan claimed $36 billion in assets. This is impressive enough, but the New York Times has pointed out that it is not the whole story:. . a major portion of their [Chase Manhattan's business carried on through affiliated banks overseas is not consolidated on the balance sheet."
Time also emphasizes the immense power of the Chase Manhattan, noting that "The Chase has 28 foreign branches of its own, but more important, it has a globe encircling string of 50,000 correspondent banking offices."Fifty thousand correspondent banks around the world! if each correspondent bank were worth only a paltry $10 million, it would give Chase potential world wide clout of five hundred billion dollars ! Such a figure is simply incomprehensible. Unfortunately, it is probably, conservative estimate of Chase's power and influence.
Such financial clout would give the Rockefellers the ability to create an international monetary crisis over, night. Could it be that it is they who have been yo-yoing the price of gold, dollars and foreign currencies during the past few years-creating panics for most investors, but profits for themselves?
Every time an international monetary storm blows up hundreds of millions of dollars flow into European banks' When the storm subsides, those who were"in the know': at the beginning have made enormous sums of money, That the Rockefellers have been very profitably involved through the Chase Manhattan Bank and its overseas facilities, seems more than reasonable.
By almost any standard, Chase Manhattan has become virtually a sovereign state. Except it has more money, than most. lt even employs a full-time envoy to the United Nations.
As just one illuminating statistic, during 1973 Chase board chairman David Rockefeller met with 27 heads of state, including the rulers of Russia and Red China, plus scores of lesser dignitaries. Not even Henry Kissinger, he of the - shuttle diplomacy - and much- publicized state dinners, can match Rockefeller's influence with the men at the top.
Chase Manhattan's annual reports contain much information detailing the worldwide expansion of the bank. lt has gone international on the grand scale. And it shows no signs of slowing down. In fact, Chase Manhattan is the undisputed world heavyweight champion when it comes to international banking.
During the Senate hearing on Nelson's confirmation, he claimed,"I do not own any shares in the Chase Manhattan Bank."However, he neglected to mention that his family owns 623,000 shares, or 2.54 % of the Chase Manhattan stock. And he also conveniently overlooked the fact that the Rockefeller Brothers Fund owns another 148 000 Chase shares and Rockefeller University holds 81,296.
Myer Kutz tells us in the New York Times of April 28, 1974:"The Rockefellers and Rockefeller institutions own a major, essentially controlling interest, estimated at more than 4%,in The Chase Manhattan Bank.
The Chase Annual Report for 1974 reports that the total assets of The Chase Manhattan Corporation stood at $42,532,003,302. That's over forty-two billion dollars. From this, reports Chase, they had a net income of $180,801,382 for the year 1974 That's over $180 million profit in just one year-or $3.5 million in profit a week-of which the Rockefeller family pockets over four %, or roughly 7.2 million dollars. That's not bad, considering Chase is mainly a device for holding and boosting many of the family's other financial interests.
Once again we must note that actual ownership by the family in Chase Manhattan may be much greater than is admitted. Professor James Knowles in his highly detailed study, " The Rockefeller Financial Group"states:
It is impossible to establish conclusively that the wealthy families represented on the boards of the banks in the Rockefeller Group own a controlling share of the stock. The ownership of large banks is a carefully guarded secret. Even when banks are required to disclose their largest stockholders, as was the case in the 1962 Patman investigation of chain banking, they have used what are called "street names" in referring to stockholding in trust.
These "street names- are wholly fictitious and bear no resemblance to the actual beneficiary or trustees. In the case of Chase Manhattan Bank, for example, its reported twenty largest stockholders in 1962 included fifteen "street names," (e.g., Dudd & Co., Don & Co., Atwell & Co.) .... (1)·
If fifteen of the twenty largest blocs of stocks are held in fictitious names designed to hide the identities of the real owners, it is impossible to doubt that some, if not most, of the actual owners are part of the Rockefeller Empire.
When the few facts that are available to the public are considered-that the Rockefellers control by far the largest amount of stock in Chase Manhattan, that other families closely connected with the Standard Oil fortune from its beginning also own substantial blocks of stock, that the board of directors of Chase Manhattan reads like a who's who of Rockefeller lieutenants, and that David Rockefeller is chairman of the board of the bank-no one can dispute Rockefeller control of the Chase Manhattan Bank.
http://www.thetruthseeker.co.uk/article.asp?ID=2802
January 25th, 2008 at 9:02 amRockefeller employs Cheney to drive up Exxon's oil price:
http://www.youtube.com/watch?v=c1cFwkmSOXg
January 25th, 2008 at 9:03 amCFR control of the media:
http://www.youtube.com/watch?v=JPlvdSQ6cAM
January 25th, 2008 at 9:06 amI'm shocked! Shocked, I tell you!
January 25th, 2008 at 9:52 amdick cheney just cremed himself
January 25th, 2008 at 9:56 amBye bye, Republicans, we hardly knew ye.
Comment by VerbalKint — January 25, 2008 @ 2:46 am
Actually, we know the bastards all too well!
Exxon’s obscene profiteering is proof that the surge IS working!
January 25th, 2008 at 11:17 amWell, now the ex-CEO Raymond, of Exxon can afford to get something to eat, poor thing he looks emaciated. He's been fasting for the last five years cause money has been was so tight for these transnational oil companies.
http://thumbsnap.com/v/z9KQG1B9.jpg
January 25th, 2008 at 11:19 am