The rich get richer

[Corn]

Originally posted by: moshquerade

Originally posted by: Corn

Originally posted by: moshquerade

Originally posted by: Corn
Exxon's revenue for the period is $100 billion. Thier profit was $9.9 billion.

This represents a profit margin of less than 10%. This is hardly greed or gouging. Apple realizes nearly 50% on their ipod.

how can you compare oil to iPods?

I'm not comparing oil to ipods, I'm comparing profit margins. Are you telling me that a 10% profit margin is excessive?

you were comparing the two.

and yes oil companies profits are in question. so someone else must be feeling there is excess there at our expense.

You did not answer my question. Do you believe that a 10% profit margin to be excessive? I don't care about what other people think, there are plenty of socialists that believe no company should profit. I'm asking you, what do you think?

 

[Corn]

Mosh, if you don't mind me asking...do you participate in a 401K? What kind of rate of return would you require to earn before giving back your "excess" profit?

Not everyone needs gas guzzling SUV's. Part of the price is supply and demand. Larger trucks have accounted for most of the average fleet sales of the "big 3" in the previous decade IIRC. People don't need ipods, but they don't need trucks either (for the most part). At this very point in time, the tax collected on a gallon of gas here in Michigan represents a larger slice of the cost of that gallon than Exxon's paltry 10% profit.

 

[moshquerade]

Originally posted by: Corn

Originally posted by: moshquerade

Originally posted by: Corn

Originally posted by: moshquerade

Originally posted by: Corn
Exxon's revenue for the period is $100 billion. Thier profit was $9.9 billion.

This represents a profit margin of less than 10%. This is hardly greed or gouging. Apple realizes nearly 50% on their ipod.

how can you compare oil to iPods?

I'm not comparing oil to ipods, I'm comparing profit margins. Are you telling me that a 10% profit margin is excessive?

you were comparing the two.

and yes oil companies profits are in question. so someone else must be feeling there is excess there at our expense.

You did not answer my question. Do you believe that a 10% profit margin to be excessive? I don't care about what other people think, there are plenty of socialists that believe no company should profit. I'm asking you, what do you think?

read this:

Exxon Mobil Posts New Record for Profit
AP - 1 hour, 28 minutes ago
IRVING, Texas - Exxon Mobil Corp. had a quarter for the record books. The world's largest publicly traded oil company said Thursday high oil and natural-gas prices helped its third-quarter profit surge almost 75 percent to $9.92 billion, the largest quarterly profit for a U.S. company ever, and it was the first to ring up more than $100 billion in quarterly sales. Net income ballooned to $9.92 billion, or $1.58 per share, from $5.68 billion, or 88 cents per share, a year ago.

http://news.yahoo.com/fc/business/oil_and_gas

now tell me what you think. i don't see 10% there. i am reading a whopping 75%.

 

[moshquerade]

Originally posted by: Corn
Mosh, if you don't mind me asking...do you participate in a 401K? What kind of rate of return would you require to earn before giving back your "excess" profit?

Not everyone needs gas guzzling SUV's. Part of the price is supply and demand. Larger trucks have accounted for most of the average fleet sales of the "big 3" in the previous decade IIRC. People don't need ipods, but they don't need trucks either (for the most part). At this very point in time, the tax collected on a gallon of gas here in Michigan represents a larger slice of the cost of that gallon than Exxon's paltry 10% profit.

i see where you are trying to go with this, but don't blame me for our dependency on oil.
also, i don't drive an SUV, and i am conscious of gas conservation.

iPods aren't needed, but don't pretend we can just take all the trucks off the road and go about our daily lives like they wouldn't be missed.

 

[dullard]

Originally posted by: moshquerade
now tell me what you think. i don't see 10% there. i am reading a whopping 75%.

I think people who don't understand simple economic terms should not debate economics.

Profits up by 75% does NOT mean profit margins are at 75%.

 

[Corn]

Originally posted by: moshquerade

Originally posted by: Corn

Originally posted by: moshquerade

Originally posted by: Corn

Originally posted by: moshquerade

Originally posted by: Corn
Exxon's revenue for the period is $100 billion. Thier profit was $9.9 billion.

This represents a profit margin of less than 10%. This is hardly greed or gouging. Apple realizes nearly 50% on their ipod.

how can you compare oil to iPods?

I'm not comparing oil to ipods, I'm comparing profit margins. Are you telling me that a 10% profit margin is excessive?

you were comparing the two.

and yes oil companies profits are in question. so someone else must be feeling there is excess there at our expense.

You did not answer my question. Do you believe that a 10% profit margin to be excessive? I don't care about what other people think, there are plenty of socialists that believe no company should profit. I'm asking you, what do you think?

read this:

Exxon Mobil Posts New Record for Profit
AP - 1 hour, 28 minutes ago
IRVING, Texas - Exxon Mobil Corp. had a quarter for the record books. The world's largest publicly traded oil company said Thursday high oil and natural-gas prices helped its third-quarter profit surge almost 75 percent to $9.92 billion, the largest quarterly profit for a U.S. company ever, and it was the first to ring up more than $100 billion in quarterly sales. Net income ballooned to $9.92 billion, or $1.58 per share, from $5.68 billion, or 88 cents per share, a year ago.

http://news.yahoo.com/fc/business/oil_and_gas

now tell me what you think. i don't see 10% there. i am reading a whopping 75%.

Because you are reading incorrectly. You are reading the amount their profits increased from the previous year, not their profit margin. It's spelled out right in your article. Their total revenue for the period is $100billion, their profit is $9.8 billion. You do the math. Last year for the same period their profit margin was 8.15%. Clearly what is driving their increase in profit is an increase in their revenue. Their total margin has increased 1.5% since last year.....Cry me a river.

 

[Genx87]

Originally posted by: moshquerade

Originally posted by: Genx87

Originally posted by: moshquerade

Originally posted by: Genx87

Originally posted by: moshquerade

Originally posted by: cKGunslinger
So.. profit == bad?

no, but oil is essential, so price gouging = bad.

If I dont get oil do I die?

Oil is a commodity, as such the market value plays a role in what the costs are at both the well and at the pump.

If people stopped driving tomorrow for 2 weeks you would see a large increase in oil supplies which wouold drive the cost of the product down.

oil is essential for living, yes. we could possibly go without it for awhile.

let's put it this way, if ALL oil was cut off, would your life be jeopardized at all?

I guess we wonder why the addiction continues in this country.

I consider things like water, food, shelter to be essential to living.
Now we have people lumping in oil as essential lmao.

Put the oil crack down for a second and think about what is really essential for survival.

how about answering my question

Didnt I?

I consider things like water, food, shelter to be essential to living.

 

[cKGunslinger]

Originally posted by: moshquerade
read this:

Exxon Mobil Posts New Record for Profit
AP - 1 hour, 28 minutes ago
IRVING, Texas - Exxon Mobil Corp. had a quarter for the record books. The world's largest publicly traded oil company said Thursday high oil and natural-gas prices helped its third-quarter profit surge almost 75 percent to $9.92 billion, the largest quarterly profit for a U.S. company ever, and it was the first to ring up more than $100 billion in quarterly sales. Net income ballooned to $9.92 billion, or $1.58 per share, from $5.68 billion, or 88 cents per share, a year ago.

http://news.yahoo.com/fc/business/oil_and_gas

now tell me what you think. i don't see 10% there. i am reading a whopping 75%.

Do you really not understand the differences between what those percentages are measuring?

 

[moshquerade]

Originally posted by: dullard

Originally posted by: moshquerade
now tell me what you think. i don't see 10% there. i am reading a whopping 75%.

I think people who don't understand simple economic terms should not debate economics.

Profits up by 75% does NOT mean profit margins are at 75%.

he was comparing them to apple's 50% profit on Ipods.
funny, Exxon Mobile just had "the largest quarterly profit for a U.S. company ever"

 

[Genx87]

Originally posted by: moshquerade

Originally posted by: Corn

Originally posted by: moshquerade

Originally posted by: Corn

Originally posted by: moshquerade

Originally posted by: Corn
Exxon's revenue for the period is $100 billion. Thier profit was $9.9 billion.

This represents a profit margin of less than 10%. This is hardly greed or gouging. Apple realizes nearly 50% on their ipod.

how can you compare oil to iPods?

I'm not comparing oil to ipods, I'm comparing profit margins. Are you telling me that a 10% profit margin is excessive?

you were comparing the two.

and yes oil companies profits are in question. so someone else must be feeling there is excess there at our expense.

You did not answer my question. Do you believe that a 10% profit margin to be excessive? I don't care about what other people think, there are plenty of socialists that believe no company should profit. I'm asking you, what do you think?

read this:

Exxon Mobil Posts New Record for Profit
AP - 1 hour, 28 minutes ago
IRVING, Texas - Exxon Mobil Corp. had a quarter for the record books. The world's largest publicly traded oil company said Thursday high oil and natural-gas prices helped its third-quarter profit surge almost 75 percent to $9.92 billion, the largest quarterly profit for a U.S. company ever, and it was the first to ring up more than $100 billion in quarterly sales. Net income ballooned to $9.92 billion, or $1.58 per share, from $5.68 billion, or 88 cents per share, a year ago.

http://news.yahoo.com/fc/business/oil_and_gas

now tell me what you think. i don't see 10% there. i am reading a whopping 75%.

What is 9.92/100 ?

 

[dullard]

Originally posted by: moshquerade
he was comparing them to apple's 50% profit on Ipods.
funny, Exxon Mobile just had "the largest quarterly profit for a U.S. company ever"

What do either of those facts have to do with your misunderstanding of economic terms (specifically the term I mentioned above)?

 

[moshquerade]

Originally posted by: Genx87

Originally posted by: moshquerade

Originally posted by: Genx87

Originally posted by: moshquerade

Originally posted by: Genx87

Originally posted by: moshquerade

Originally posted by: cKGunslinger
So.. profit == bad?

no, but oil is essential, so price gouging = bad.

If I dont get oil do I die?

Oil is a commodity, as such the market value plays a role in what the costs are at both the well and at the pump.

If people stopped driving tomorrow for 2 weeks you would see a large increase in oil supplies which wouold drive the cost of the product down.

oil is essential for living, yes. we could possibly go without it for awhile.

let's put it this way, if ALL oil was cut off, would your life be jeopardized at all?

I guess we wonder why the addiction continues in this country.

I consider things like water, food, shelter to be essential to living.
Now we have people lumping in oil as essential lmao.

Put the oil crack down for a second and think about what is really essential for survival.

how about answering my question

Didnt I?

I consider things like water, food, shelter to be essential to living.

no, i did not ask what you considered essential. i asked this:
let's put it this way, if ALL oil was cut off, would your life be jeopardized at all?

 

[moshquerade]

Originally posted by: dullard

Originally posted by: moshquerade
he was comparing them to apple's 50% profit on Ipods.
funny, Exxon Mobile just had "the largest quarterly profit for a U.S. company ever"

What do either of those facts have to do with your misunderstanding of economic terms (specifically the term I mentioned above)?

that the rich are getting richer as the thread title implies.

i am not going to keep going back and forth about oil companies. if they have done wrong it will surface.

 

[Genx87]

Originally posted by: moshquerade

Originally posted by: dullard

Originally posted by: moshquerade
now tell me what you think. i don't see 10% there. i am reading a whopping 75%.

I think people who don't understand simple economic terms should not debate economics.

Profits up by 75% does NOT mean profit margins are at 75%.

he was comparing them to apple's 50% profit on Ipods.
funny, Exxon Mobile just had "the largest quarterly profit for a U.S. company ever"

Lets take for instance the oil companie sell a product for a nice even price of 100 dollars. With their costs to market, refine, ship the product to market they end up making 9.92 dollars for every product the sell.

Their profit margin is ~10%.

Apple ships a product for 100 dollars and their cost to ship, refine, develope, and market they make 50 dollars for every product they sell.

Their profit margin is 50%.

 

[Genx87]

no, i did not ask what you considered essential. i asked this:
let's put it this way, if ALL oil was cut off, would your life be jeopardized at all?

Provided I can get water, food, and shelter.

no

I have a house so that wont go anywhere, I have a pond in the back yard so I have a water source, and I have a gun so if food disappears from the local grocery stores I can hunt.

 

[moshquerade]

Originally posted by: Genx87

Originally posted by: moshquerade

Originally posted by: dullard

Originally posted by: moshquerade
now tell me what you think. i don't see 10% there. i am reading a whopping 75%.

I think people who don't understand simple economic terms should not debate economics.

Profits up by 75% does NOT mean profit margins are at 75%.

he was comparing them to apple's 50% profit on Ipods.
funny, Exxon Mobile just had "the largest quarterly profit for a U.S. company ever"

Lets take for instance the oil companie sell a product for a nice even price of 100 dollars. With their costs to market, refine, ship the product to market they end up making 9.92 dollars for every product the sell.

Their profit margin is ~10%.

Apple ships a product for 100 dollars and their cost to ship, refine, develope, and market they make 50 dollars for every product they sell.

Their profit margin is 50%.

let's just ignore that we are getting anally raped at the pump and the oil companies are getting record profits.

because we need to argue semantics.

 

[dullard]

Originally posted by: moshquerade
that the rich are getting richer as the thread title implies.

i am not going to keep going back and forth about oil companies. if they have done wrong it will surface.

I am confused. Let me try to summarize your posts in this thread (subject changed to avoid deep-seated personal feelings):

Thread topic: Cats have fur.
Corn: The sun appears yellowish in color.
Moshquerade: Since the grass is green, the sun is green.
Dullard: You don't understand how color works, Moshquerade.
Moshquerade: Some cats are white.
Dullard: What does that have to do with you thinking the sun is green?
Moshquerade: Some cats have white fur as the thread title implied.
Dullard: Well yes, that is true. Some cats do have white fur. But are you still saying the sun is green?

 

[Corn]

Originally posted by: moshquerade

Originally posted by: dullard

Originally posted by: moshquerade
he was comparing them to apple's 50% profit on Ipods.
funny, Exxon Mobile just had "the largest quarterly profit for a U.S. company ever"

What do either of those facts have to do with your misunderstanding of economic terms (specifically the term I mentioned above)?

that the rich are getting richer as the thread title implies.

i am not going to keep going back and forth about oil companies. if they have done wrong it will surface.

Is a 10% profit margin excessive in your opinion? That's all I want to know.

 

[dullard]

Originally posted by: Genx87
Provided I can get water, food, and shelter.

Heat is an essential subset of shelter (depending on location). Thus, depending on location, oil is essential.

 

[Corn]

Originally posted by: dullard

Originally posted by: Genx87
Provided I can get water, food, and shelter.

Heat is an essential subset of shelter (depending on location). Thus, depending on location, oil is essential.

My house is heated with natural gas. I've also got a wood burner in the basement.......

 

[Corn]

Originally posted by: dullard

Originally posted by: moshquerade
that the rich are getting richer as the thread title implies.

i am not going to keep going back and forth about oil companies. if they have done wrong it will surface.

I am confused. Let me try to summarize your posts in this thread (subject changed to avoid deep-seated personal feelings):

Thread topic: Cats have fur.
Corn: The sun appears yellowish in color.
Moshquerade: Since the grass is green, the sun is green.
Dullard: You don't understand how color works, Moshquerade.
Moshquerade: Some cats are white.
Dullard: What does that have to do with you thinking the sun is green?
Moshquerade: Some cats have white fur as the thread title implied.
Dullard: Well yes, that is true. Some cats do have white fur. But are you still saying the sun is green?

If the topic is that Cat have fur, my reply would have been that compared to dogs, cats have less fur. :Q

 

[dullard]

Originally posted by: Corn
My house is heated with natural gas. I've also got a wood burner in the basement.......

Gas, oil. Same thing. What if you live in a location without wood?

 

[Corn]

Originally posted by: dullard

Originally posted by: Corn
My house is heated with natural gas. I've also got a wood burner in the basement.......

Gas, oil. Same thing. What if you live in a location without wood?

Natural gas and oil are not the same thing! I bet that if I had no wood on my property that I could purchase some wood and have it delivered, I betcha I do!

 

[Genx87]

Originally posted by: dullard

Originally posted by: Genx87
Provided I can get water, food, and shelter.

Heat is an essential subset of shelter (depending on location). Thus, depending on location, oil is essential.

Never heard of the sun? How about wood heat?

Many times provided you are out of the elements you can do just fine without a source of heat.

btw arent most homes heated by natural gas?

 

[cKGunslinger]

Originally posted by: dullard

Originally posted by: moshquerade
that the rich are getting richer as the thread title implies.

i am not going to keep going back and forth about oil companies. if they have done wrong it will surface.

I am confused. Let me try to summarize your posts in this thread (subject changed to avoid deep-seated personal feelings):

Thread topic: Cats have fur.
Corn: The sun appears yellowish in color.
Moshquerade: Since the grass is green, the sun is green.
Dullard: You don't understand how color works, Moshquerade.
Moshquerade: Some cats are white.
Dullard: What does that have to do with you thinking the sun is green?
Moshquerade: Some cats have white fur as the thread title implied.
Dullard: Well yes, that is true. Some cats do have white fur. But are you still saying the sun is green?

:laugh: