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Does anyone else have a problem with this?

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vping

vping

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I really don't have a problem with this when you consider their profit margin is running approx 8% (which is medeocre at best), and the quanity that they sell. Infact, I haven't purchased any of their stock due to a lagging profit margin.
 
$140.oo Per B = 4.00 @ the pump
$65.00 per B = $2.70 @ the pump
ripped off then? or ripped off even worse now but we feel better about it bcause the price IS LOWER, when actualy someones profit in the chain has increased dramaticaly evey though the price is lower?
If they can sell it @ $4.00 per gallon when the price is $140.00 per barrel and still make a profit
Then doesnt it stand to reason that @ say $70.00 per barrel {just to simplify things} shouldnt the price be at or near $2.00 Per gallon
Someone is making 65 to 70 cents more per gallon NOW than they were THEN ! NEW WORD ......... superobscene

Sometimes you just cant win no matter what!!
 
They employ a heck of a lot of people, pay a heck of a lot of taxes and provide something almost everyone personally needs and something everyone benefits from. Why would I have a problem with them? I'm sure some people would resent my personal paycheck, but I have earned what I have just as they have.
 
Does anybody really know how much is in a barrel
 
31 US gallons = 1 barrel
 
SilentUnicorn said:
31 US gallons = 1 barrel
Click to expand...
for beer.

A barrel of oil is 42 us gallons or about 35 imperial gallons
 
Actually an oil barrel is 42 US gallons.
 
Lemme see...my Exxon stock is worth $72.37 a share according to that article...& I'm gonna earn $2.86 for each share I own, also according to that article...lemme see.....hmmmm, that's not a very good return on my money!

In fact that's a lousy investment! I need to sell that stock & buy something with a better return! So, NO, I don't have a problem with it!

& if most of you checked your 401K's, you're probably complaining about your own retirement plans! I'd venture to guess that most Americans with a 401K, mutual fund stock, or some other market-based investmant plan own Exxon.

Oh, apparently you missed this paragraph in the article: <span style="font-style: italic">"Yet numbers contained within the company's most recent financial report revealed production numbers that continue to sag, and shares slipped 3 percent in midday trading."</span>

Exxon's buying its own stock because guys like me are bailing out for better paying investments...just at a time when their R&D, exploration/production & infrastructure costs are about to go up as they search for new sources of American crude to reduce our dependence on foreign oil and expand into other sources of energy.
 
oops my mistake sorry

Mark
 
No, I would not say it's a bit much - it is American capitalism and it is the fuel for the engine that makes this country run. Those record profits mean increased tax revenues and also, as Tony poined out, profits are one factor in a company's stock price...which affect many many 401ks in this country that are invested in mutual funds. (I know my 401k is invested in funds that include Exxon) Besides which, the profit PBT and their margin really isn't all that amazing. You have to remember they are a HUGE company that employees many thousands of people. The more they make the better it is for everyone concerned. I am not one who is on the "oil companies are evil" or "profits are evil" bandwagons. Says who? Should we have some government agency set the maximum amount of profit a company can make? That would be like pouring molasis into the engine of the economy. We should be encouraging growth and celebrating profits wherever they occur, not discouraging them! So, to summarize - no, their profits don't bother me - not even a little bit.

Other than that, I have no opinion.
 
Which reminds me of the one about the guy who runs out of gas...as he is sitting there, a bee flies in the window and says "What's wrong?". "Out of gas!" the guy replies. "I think I can help." says the bee and flies off. He soon returns with a whole swarm who fly into the gas tank. A minute later the bees fly out, the bee returns and says "Try her now!" The man turns the key and the engine roars to life. "What did you put in my tank?" the guy asks amazed.

Ready?
.
.
.
.
.
.
The bee replies "B.P." :jester:
 
ChrisS said:
7
Click to expand...

I still cannot read the opening topic but I'm guessing
it's about gasoline prices. Gasoline has come down from
about $4.20 a gallon two weeks ago to $3.00 a gallon
yesterday.

My tarpon boat engine burns on average 1 gallon per hour.
My Jeep burns on average 3 gallons per hour

It would appear a wise financial move for me would be to
spend more time fishing.

d
 
Mike: Go to your room! :laugh:

And thanks to Chris! I never knew beer came in 31 gallon barrels (I'm going to use that fact to impress someone real soon). :yesnod:

I agree that oil companies need addtional money to "expand into other sources of energy". This is an important part of our future economy and oil companies are well positioned to take on this task.
Mr. Pickens seems well on the way already. :wink:

As for oil companies searching "for new sources of American crude to reduce our dependence on foreign oil":
Too late...that ship has already sailed.
Oil is an international commodity sold via a capitalistic process, to the highest bidder.
If Exxon scores a big strike off the coast of Lousiana and the Chinese offer more for that product than American consumers, guess who gets it?


<span style="font-weight: bold"> 6</span>
 
US tax code that defines the beer barrel
<div class="ubbcode-block"><div class="ubbcode-header">Click to reveal.. <input type="button" class="form-button" value="Show me!" onclick="toggle_spoiler(this, 'Yikes, my eyes!', 'Show me!')" />]<div style="display: none;">United States Code
TITLE 26 - INTERNAL REVENUE CODE
SUBTITLE E - ALCOHOL, TOBACCO, AND CERTAIN OTHER EXCISE TAXES
CHAPTER 51 - DISTILLED SPIRITS, WINES, AND BEER
SUBCHAPTER A - GALLONAGE AND OCCUPATIONAL TAXES
PART I - GALLONAGE TAXES
SUBPART D - BEER [/QUOTE]</div>
5
 
Was it $32 Million that Exxon paid in taxes this last year?
 
But isn't the definition of Profit a residual? Something leftover after all expenses have been paid to include, salaries, hourly wages, materials, taxes...? If they posted a Profit of close to 15 BILLION, it seems more than capitalistic. They beat thier own record!
 
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