Exxon: near record profits

[Amused]

Well, I guess I'll answer my own question:

Exxon's five year average of profit margin is 9.3%. Exxon's first-quarter profit margin was 9.4%, meaning it kept 9.4 cents of every $1 in revenue, well in line with the five year average.

So absolutely NO evidence of price gouging.

By the way, in their first quarters, Microsoft kept 27.3 cents of every $1 in revenue in its most recent quarter; General Electric, 11.4 cents and McDonald's, 12.3 cents.

Look out, virtualgames0!!! You're being "price gouged" on that Big Mac!!!

 

[jlbenedict]

Gas is a necessity.. sorry, but it is.

Our country depends on it. If I was to flip and switch, and *poof* no more gas, this country would be in chaos..

You people that scream "Move closer to work".. or, 'You don't need gas":

Do you fvcking fail to realize the United States is over 3000 miles wide, and besides the few hundred major, large cities, it is fairly scattered out. I guess the entire population all needs to move to the major cities right? Yeah.. that will solve everything.. Then you'll have:

1) Population Crowding
2) No Housing
3) Even more increasing housing costs
4) More unemployment
5) Public transportation will cost more
5) Roads will go to $hit..more traffic
6) More homeless
and so on and so on....

"Move Closer To Work" and "You Don't Need Gas" comments are beyond absurd, its hard for me to even think of how you could come up with some a thing.. that reasoning is flawed and is more full of $hit than a cow pasture on a hot summer day.

 

[Mr.IncrediblyBored]

Exxon's dividend information

 

[Amused]

Originally posted by: jlbenedict
Gas is a necessity.. sorry, but it is.

Our country depends on it. If I was to flip and switch, and *poof* no more gas, this country would be in chaos..

You people that scream "Move closer to work".. or, 'You don't need gas":

Do you fvcking fail to realize the United States is over 3000 miles wide, and besides the few hundred major, large cities, it is fairly scattered out. I guess the entire population all needs to move to the major cities right? Yeah.. that will solve everything.. Then you'll have:

1) Population Crowding
2) No Housing
3) Even more increasing housing costs
4) More unemployment
5) Public transportation will cost more
5) Roads will go to $hit..more traffic
6) More homeless
and so on and so on....

"Move Closer To Work" and "You Don't Need Gas" comments are beyond absurd, its hard for me to even think of how you could come up with some a thing.. that reasoning is flawed and is more full of $hit than a cow pasture on a hot summer day.

The reliance on automobiles is a mere 100 years old. The absurdity here is that everyone feels entitled to live in the far suburbs and drive 30+ miles to work everyday. That little gem is less than 40 years old.

Gee, what did people do before that?

If you don't like the price of gas have the courage of your convictions and stop buying it. Until then you're just a spoiled little brat who feels you are entitled to gas at YOUR price, not the seller's price.

 

[slsmnaz]

Originally posted by: virtualgames0
How the fvck does me thinking price gouging is wrong have to do with me thinking I'm entitled to gas?
You want to know the evidence to price gouging? Oil companies making record profits is a good sign of price gouging.
And don't give me the.. they deserve it bullshit.
They fvcking make more than IBM.

Price gouging is not happening. There is a difference between record profit dollars and record profit margins. Don't let the big numbers scare you. Exxon is making dollars not margins. It would be both if there was gouging taking place.

As stated before in this thread, there are many other companies in the US making margins that are 2 or 3 times what Exxon is achieving. The big numbers are causing panic when they shouldn't.

 

[jlbenedict]

Originally posted by: Amused

Originally posted by: jlbenedict
Gas is a necessity.. sorry, but it is.

Our country depends on it. If I was to flip and switch, and *poof* no more gas, this country would be in chaos..

You people that scream "Move closer to work".. or, 'You don't need gas":

Do you fvcking fail to realize the United States is over 3000 miles wide, and besides the few hundred major, large cities, it is fairly scattered out. I guess the entire population all needs to move to the major cities right? Yeah.. that will solve everything.. Then you'll have:

1) Population Crowding
2) No Housing
3) Even more increasing housing costs
4) More unemployment
5) Public transportation will cost more
5) Roads will go to $hit..more traffic
6) More homeless
and so on and so on....

"Move Closer To Work" and "You Don't Need Gas" comments are beyond absurd, its hard for me to even think of how you could come up with some a thing.. that reasoning is flawed and is more full of $hit than a cow pasture on a hot summer day.

The reliance on automobiles is a mere 100 years old. The absurdity here is that everyone feels entitled to live in the far suburbs and drive 30+ miles to work everyday. That little gem is less than 40 years old.

Gee, what did people do before that?

If you don't like the price of gas have the courage of your convictions and stop buying it. Until then you're just a spoiled little brat who feels you are entitled to gas at YOUR price, not the seller's price.

The gas prices don't bother me too much.. I drive a Saturn that gets 40+ mpg, and use one tank (12 gallons) or less per week, so gas could go to $4.00/gallon.. I could care less...
The "move closer to work" comments just don't make sense..therefore, you are entitled to your assumptions of me and your opinion.. again... I could care less :beer:

 

[Acanthus]

Originally posted by: slsmnaz

Originally posted by: virtualgames0
How the fvck does me thinking price gouging is wrong have to do with me thinking I'm entitled to gas?
You want to know the evidence to price gouging? Oil companies making record profits is a good sign of price gouging.
And don't give me the.. they deserve it bullshit.
They fvcking make more than IBM.

Price gouging is not happening. There is a difference between record profit dollars and record profit margins. Don't let the big numbers scare you. Exxon is making dollars not margins. It would be both if there was gouging taking place.

As stated before in this thread, there are many other companies in the US making margins that are 2 or 3 times what Exxon is achieving. The big numbers are causing panic when they shouldn't.

Its quite alright that Exxon made $1318 a second last quarter?

 

[yhelothar]

Originally posted by: slsmnaz

Originally posted by: virtualgames0
How the fvck does me thinking price gouging is wrong have to do with me thinking I'm entitled to gas?
You want to know the evidence to price gouging? Oil companies making record profits is a good sign of price gouging.
And don't give me the.. they deserve it bullshit.
They fvcking make more than IBM.

Price gouging is not happening. There is a difference between record profit dollars and record profit margins. Don't let the big numbers scare you. Exxon is making dollars not margins. It would be both if there was gouging taking place.

As stated before in this thread, there are many other companies in the US making margins that are 2 or 3 times what Exxon is achieving. The big numbers are causing panic when they shouldn't.

Worst argument ever.
I'll repeat myself again.
Gasoline companies make a lower margin than many companies as their volume is much higher than most. Basic economy. The higher the volume, the lower your margin needs to be to cover the base costs. That's why buying in bulk is cheaper, and small companies generally charge more for products.
Simply said, just because the margins are lower than say aunt jane's pizza shop, it doesn't mean they're prices are more fair.
Aunt jane would need higher margins to pay for her base costs, such as rent. Had she sold as many pizzas as gasoline companies sells gas, I can assure you her pizza doesn't nearly cost as much.
As I said. Worst argument ever.

Ironically.. all the people here defending gas companies seem to be proudly displaying their patriotic sheep flag as an avatar.

 

[Robor]

Originally posted by: Amused

Originally posted by: Thraxen
Your statement simply doesn't apply to most people. Most can't live within a few miles of work for various reasons... price of housing, lack of housing, etc... The only places within a few miles of me are restaurants. Sure, I could work there, but then I couldn't afford my home.

There is no housing with 5 miles of your work?

Wow.

Huh? Like I'm going to purchase a home - a long term commitment - based on a job that could change next week, next month, next year? I guess people should just move their home/family when their jobs change? And what if the spouse works? Should they find a new job close to the new home? And it's okay if the kids change schools too. Probably not. :roll:

 

[slsmnaz]

Originally posted by: virtualgames0

Originally posted by: slsmnaz

Originally posted by: virtualgames0
How the fvck does me thinking price gouging is wrong have to do with me thinking I'm entitled to gas?
You want to know the evidence to price gouging? Oil companies making record profits is a good sign of price gouging.
And don't give me the.. they deserve it bullshit.
They fvcking make more than IBM.

Price gouging is not happening. There is a difference between record profit dollars and record profit margins. Don't let the big numbers scare you. Exxon is making dollars not margins. It would be both if there was gouging taking place.

As stated before in this thread, there are many other companies in the US making margins that are 2 or 3 times what Exxon is achieving. The big numbers are causing panic when they shouldn't.

Worst argument ever.
I'll repeat myself again.
Gasoline companies make a lower margin than many companies as their volume is much higher than most. Basic economy. The higher the volume, the lower your margin needs to be to cover the base costs. That's why buying in bulk is cheaper, and small companies generally charge more for products.
Simply said, just because the margins are lower than say aunt jane's pizza shop, it doesn't mean they're prices are more fair.
Aunt jane would need higher margins to pay for her base costs, such as rent. Had she sold as many pizzas as gasoline companies sells gas, I can assure you her pizza doesn't nearly cost as much.
As I said. Worst argument ever.

Ironically.. all the people here defending gas companies seem to be proudly displaying their patriotic sheep flag as an avatar.

I understand where you think you're going but you still make no sense. They are gouging yet are choosing to make lower margins? Just because a company buys it cheaper doesn't mean they sell it cheaper. I live this idea every day.

To use your analogy, if Pizza Hut is smart they will sell at the same price as Aunt Jane and make more money. Where do they benefit in the market by choosing to make lower margins?
And if being proud of being an American is being a sheep then BAAAAAAAAAAAAA!

 

[jlbenedict]

"If you don't like the gas prices, dont buy it"..

well fvck... what if we don't like the price of beef or steak?

I guess we better start raising our own cows...

 

[Linflas]

Originally posted by: jlbenedict
"If you don't like the gas prices, dont buy it"..

well fvck... what if we don't like the price of beef or steak?

I guess we better start raising our own cows...

Evidently in the fantasy world of many posters in this thread you would just have the right to seize the cows of the seller and sell the beef at whatever price you collectively deem to be "fair".

 

[jlbenedict]

Originally posted by: Linflas

Originally posted by: jlbenedict
"If you don't like the gas prices, dont buy it"..

well fvck... what if we don't like the price of beef or steak?

I guess we better start raising our own cows...

Evidently in the fantasy world of many posters in this thread you would just have the right to seize the cows of the seller and sell the beef at whatever price you collectively deem to be "fair".

 

[zendari]

Originally posted by: virtualgames0

Originally posted by: slsmnaz

Originally posted by: virtualgames0
How the fvck does me thinking price gouging is wrong have to do with me thinking I'm entitled to gas?
You want to know the evidence to price gouging? Oil companies making record profits is a good sign of price gouging.
And don't give me the.. they deserve it bullshit.
They fvcking make more than IBM.

Price gouging is not happening. There is a difference between record profit dollars and record profit margins. Don't let the big numbers scare you. Exxon is making dollars not margins. It would be both if there was gouging taking place.

As stated before in this thread, there are many other companies in the US making margins that are 2 or 3 times what Exxon is achieving. The big numbers are causing panic when they shouldn't.

Worst argument ever.
I'll repeat myself again.
Gasoline companies make a lower margin than many companies as their volume is much higher than most. Basic economy. The higher the volume, the lower your margin needs to be to cover the base costs. That's why buying in bulk is cheaper, and small companies generally charge more for products.
Simply said, just because the margins are lower than say aunt jane's pizza shop, it doesn't mean they're prices are more fair.
Aunt jane would need higher margins to pay for her base costs, such as rent. Had she sold as many pizzas as gasoline companies sells gas, I can assure you her pizza doesn't nearly cost as much.
As I said. Worst argument ever.

Ironically.. all the people here defending gas companies seem to be proudly displaying their patriotic sheep flag as an avatar.

The goal of a company isn't to recover costs. It's to make a profit.

Profit margins aren't based on volume, they are more based on industry. Intel makes a huge profit margin compared to many smaller companies.

 

[gsellis]

Originally posted by: virtualgames0
Ironically.. all the people here defending gas companies seem to be proudly displaying their patriotic sheep flag as an avatar.

And you are promoting facism. You seem to believe that while the companies can be privately owned, they should be publicly controlled because you feel entitled because from your dependency on their product.

Since you like those socialist agendas, go for communism. That would be where the government would own the oil companies. Then the government can get about 40-50% profit margin on it including the taxes. Oh, and the cost would be higher because they would not be able to run it efficiently. And we know that governments make people great, because people cannot be relied on to make anything of themselves.

 

[yhelothar]

Originally posted by: gsellis

Originally posted by: virtualgames0
Ironically.. all the people here defending gas companies seem to be proudly displaying their patriotic sheep flag as an avatar.

And you are promoting facism. You seem to believe that while the companies can be privately owned, they should be publicly controlled because you feel entitled because from your dependency on their product.

Since you like those socialist agendas, go for communism. That would be where the government would own the oil companies. Then the government can get about 40-50% profit margin on it including the taxes. Oh, and the cost would be higher because they would not be able to run it efficiently. And we know that governments make people great, because people cannot be relied on to make anything of themselves.

Facism? Do you even know what you're talking about? Facism supports businesses. That said, all extremes are bad, yes even capitalism at it's unregulated form does not work.

 

[yhelothar]

Originally posted by: Linflas

Originally posted by: jlbenedict
"If you don't like the gas prices, dont buy it"..

well fvck... what if we don't like the price of beef or steak?

I guess we better start raising our own cows...

Evidently in the fantasy world of many posters in this thread you would just have the right to seize the cows of the seller and sell the beef at whatever price you collectively deem to be "fair".

That's exactly what the US government does. Nothing to do with fantasy.
Capitalism is a fvcked up as communism in it's purest form, unlike what you may think in your fantasy capitalism world.

 

[Mr.IncrediblyBored]

Originally posted by: KnightBreed
Exxon's dividend information

Their dividend will be roughly $1.25 per share this year.

I'm a bit of an investment noob, so if I get anything wrong, please correct me.

If you have $10,000 invested in Exxon (about 150 shares) for an entire year, you should get about $280 in dividends. Adjusted for the typical tax bracket, minus another 30% for state/federal/fica and you get $196 cash in dividends for a $10k investment.

Assume that the share price and inflation remains constant at $67 and 3.2%, respectively. At the end of the year the $10k investment is worth $9680 inflation adjusted. So the dividend will nearly cover inflation for the year. If the share price rises even a couple bucks you would come out ahead (a little bit).

 

[chambersc]

Originally posted by: jlbenedict
Gas is a necessity.. sorry, but it is.

Our country depends on it. If I was to flip and switch, and *poof* no more gas, this country would be in chaos..

You people that scream "Move closer to work".. or, 'You don't need gas":

Do you fvcking fail to realize the United States is over 3000 miles wide, and besides the few hundred major, large cities, it is fairly scattered out. I guess the entire population all needs to move to the major cities right? Yeah.. that will solve everything.. Then you'll have:

1) Population Crowding
2) No Housing
3) Even more increasing housing costs
4) More unemployment
5) Public transportation will cost more
5) Roads will go to $hit..more traffic
6) More homeless
and so on and so on....

"Move Closer To Work" and "You Don't Need Gas" comments are beyond absurd, its hard for me to even think of how you could come up with some a thing.. that reasoning is flawed and is more full of $hit than a cow pasture on a hot summer day.

the only necessities in life are food, water, and shelter. where does "gasoline" fall into that equation?

 

[jlbenedict]

Originally posted by: chambersc

Originally posted by: jlbenedict
Gas is a necessity.. sorry, but it is.

Our country depends on it. If I was to flip and switch, and *poof* no more gas, this country would be in chaos..

You people that scream "Move closer to work".. or, 'You don't need gas":

Do you fvcking fail to realize the United States is over 3000 miles wide, and besides the few hundred major, large cities, it is fairly scattered out. I guess the entire population all needs to move to the major cities right? Yeah.. that will solve everything.. Then you'll have:

1) Population Crowding
2) No Housing
3) Even more increasing housing costs
4) More unemployment
5) Public transportation will cost more
5) Roads will go to $hit..more traffic
6) More homeless
and so on and so on....

"Move Closer To Work" and "You Don't Need Gas" comments are beyond absurd, its hard for me to even think of how you could come up with some a thing.. that reasoning is flawed and is more full of $hit than a cow pasture on a hot summer day.

the only necessities in life are food, water, and shelter. where does "gasoline" fall into that equation?

Is food going to deliver itelf to the grocery store for you? I guess telepathic delivery methods are the wave of the future..

 

[slsmnaz]

Originally posted by: jlbenedict

Originally posted by: chambersc

Originally posted by: jlbenedict
Gas is a necessity.. sorry, but it is.

Our country depends on it. If I was to flip and switch, and *poof* no more gas, this country would be in chaos..

You people that scream "Move closer to work".. or, 'You don't need gas":

Do you fvcking fail to realize the United States is over 3000 miles wide, and besides the few hundred major, large cities, it is fairly scattered out. I guess the entire population all needs to move to the major cities right? Yeah.. that will solve everything.. Then you'll have:

1) Population Crowding
2) No Housing
3) Even more increasing housing costs
4) More unemployment
5) Public transportation will cost more
5) Roads will go to $hit..more traffic
6) More homeless
and so on and so on....

"Move Closer To Work" and "You Don't Need Gas" comments are beyond absurd, its hard for me to even think of how you could come up with some a thing.. that reasoning is flawed and is more full of $hit than a cow pasture on a hot summer day.

the only necessities in life are food, water, and shelter. where does "gasoline" fall into that equation?

Is food going to deliver itelf to the grocery store for you? I guess telepathic delivery methods are the wave of the future..

Food being presented to you at the store is also not a necessity. Some people have been known to grow food! Crazy, but I saw it on the intraweb so it must be true.

 

[fitzov]

Originally posted by: slsmnaz

Originally posted by: CalvinHobbes

Originally posted by: Amused
The most amazing thing here (besides the blatant ignorance of how the market works) is that so many people feel they are entitled to a company's product.

You are not. If Exxon's (and the other oil companies) profits disgust you, stop buying their product. Contrary to popular opinion you do NOT need gasoline. You do NOT need to live miles from work and you do NOT need to drive everywhere.

Maybe the water/sewer service should start costing $200 a month for everyone. Electricity should be $600 a month. We don't need either, it's just nice to have. It makes me sick when people say, they're a corporation, they need to make money. So is every other business yet they're not taking advantage of the situation.

Capitalism. Don't like it, don't buy it. It's what makes the US what it is. Ride the bus, get a bike or *gasp* walk.

I don't hear anyone in Congress advocating lowering the tax on gas to help out. It's easier to blame the big. bad corporations. Exxon is not setting the price, it's reacting to it. The speculators are driving it through the roof.

All the tree-huggers also need to stop complaining and let the US tap into its own oil.

Don't like it don't buy it? There's a real subtle distinction that is being missed here--between necessities and luxuries. (e.g. food, fuel, and housing)

It's true, though, that fuel, tobacco, and alcohol are big money makers for the govt.

As for the tree-huggers, well, we feel better advocating for alternative energy rather than continued dependence on fossil-fuel (at least for myself, I probably don't speak for all tree-huggers).

 

[chambersc]

Originally posted by: jlbenedict

Originally posted by: chambersc

Originally posted by: jlbenedict
Gas is a necessity.. sorry, but it is.

Our country depends on it. If I was to flip and switch, and *poof* no more gas, this country would be in chaos..

You people that scream "Move closer to work".. or, 'You don't need gas":

Do you fvcking fail to realize the United States is over 3000 miles wide, and besides the few hundred major, large cities, it is fairly scattered out. I guess the entire population all needs to move to the major cities right? Yeah.. that will solve everything.. Then you'll have:

1) Population Crowding
2) No Housing
3) Even more increasing housing costs
4) More unemployment
5) Public transportation will cost more
5) Roads will go to $hit..more traffic
6) More homeless
and so on and so on....

"Move Closer To Work" and "You Don't Need Gas" comments are beyond absurd, its hard for me to even think of how you could come up with some a thing.. that reasoning is flawed and is more full of $hit than a cow pasture on a hot summer day.

the only necessities in life are food, water, and shelter. where does "gasoline" fall into that equation?

Is food going to deliver itelf to the grocery store for you? I guess telepathic delivery methods are the wave of the future..

Have you lost all ability to get said food from the store via your feet/hands?

 

[fitzov]

Face it folks. While you might be able to explain the profits in some wacky way without discussing the cost at the pump, the average joe on the street sees them as directly linked and is pissed about it.

People aren't about to start at home businesses or work at the local grocery store because fuel is too expensive.

 

[zephyrprime]

Originally posted by: KnightBreed

Originally posted by: KnightBreed
Exxon's dividend information

Their dividend will be roughly $1.25 per share this year.

I'm a bit of an investment noob, so if I get anything wrong, please correct me.

If you have $10,000 invested in Exxon (about 150 shares) for an entire year, you should get about $280 in dividends. Adjusted for the typical tax bracket, minus another 30% for state/federal/fica and you get $196 cash in dividends for a $10k investment.

Assume that the share price and inflation remains constant at $67 and 3.2%, respectively. At the end of the year the $10k investment is worth $9680 inflation adjusted. So the dividend will nearly cover inflation for the year. If the share price rises even a couple bucks you would come out ahead (a little bit).

Dividends aren't taxed that way. Top dividend rate is 15%.