Exxon Mobile Record Net Profit

Exxon Mobil announced today its third-quarter net profit was $14.83 billion. And the government still gives them billions of dallars tax break.... I need a tax break, how about you?

 

I hope it helps my 401K. Record revenues and record costs. Profit margin still in line with 10%. Stupid media reports just dollars, and not margins.

 

It's obvious that if you try to tax them more, they will just put the cost onto the consumers. READ THAT AGAIN. It's obvious that if you try to tax them more, they will just put the cost onto the consumers.


Giving them the tax breaks are the only thing allowing them to expand and grow as a company since government as a whole is not giving them the opportunity for it. The more they grow, the more tax they PAY the government.

Would you rather spend 4 billion more on foreign oil when we have the oil here in our own country? Just like oil is a huge industry in the middle east, it could be a huge industry here and it could help get rid of both the economic crisis, create more jobs, but even further, it could get us closer to oil independence and alternative energy.

It could fix our economy simply by fixing the transportation industry. Trucking companies are pushing a fuel surcharge onto the companies they are hauling for, and those companies just raise the cost of their goods to make up for the fuel surcharge. Making it cheaper to move goods across our nation will help boost the economy. Taxing oil companies will make it cost more. It's about time we give breaks to companies who are trying to work for us but the government keeps saying no.

 

Well, I can say without any hesitation that not one cent of that profit was made from my wallet.

I do not stop at Exxon, Mobil or Citgo.

 

No you cannot as they also make money from other stations through the refinery and wholesale divisions.

 

You mean on top of the additional cost they have already been putting on the consumer? I believe the consumer has shown they will stop buying over a certain price level, which leaves no room for this magical increase. :beathorse: :banghead:

Yes, almost 15 BILLION in profit for one quarter is not enough for them to fund any expansion. They will need tax breaks for sure. :nopity:

And the oil industry will not raise the price immediately when there is a price increase in crude and lower the price only when the price of crude drops only after they have sold the "old higher priced crude products" right? No gouging at all ....

 

You go, girl! I would rather walk a mile than spend a dollar at an Exxon station! Unfortunately, they still make money off us. Everything we buy had to get to the store some way, and that's usually by truck. Who knows what brand of fuel the truckers use, or if Exxon sells wholesale to companies that end up selling retail under other brand names. Oh well, we just have to do what we can do.

 

Once again, it's not profit margin that matters, it's return on investment.

 

Wayne

Your real issue, which is abundantly clear, is simply that oil companies are making record profits. The fact that their profit margins are almost completely unchanged doesn't mean a thing to you.

 

Not a thing, as the net profit is the basis for any expansion. If the net profit margin changes from 10% to 90% but does not provide sufficient profits for expansion there will be none. The point IS they have nearly 15 BILLION in PROFITS in one quarter and you think they need tax breaks in order to expand? :shock::shock:

 

BS

 

You are still focused on "billions and billions" of dollars when I've mentioned that their profit margins (the only fair way to compare companies across industry) are in line with other large industrial companies.

Oil companies make billions of dollars because they own hundreds of billions of dollars in assets that earn a return. That's it. They are amongst the largest companies in the world. They SHOULD be earning the largest returns.

 

They are making such large amounts because they are selling huge volumes of product. The profit margin is NOT the only fair way to compare companies because those selling large volumes will generally make lower profits per unit than companies selling low volume products. The profit on a car has to be higher than that of a pencil to cover the difference in volume. If you sell one item say a notebook at $10.00 with a 10% margin you will make $1.00 net profit on each unit. The person selling the paper used in that notebook at $1.00 per packs 10 sheets with a 1% margin selling 100 packs will make the same profit. Since there is much more paper sold the profit margin will have the same net with a lower margin. The market will not allow a 10% profit margin on paper because it is too expensive.

 

What's Wal-Mart's profit margin? What about the Mom 'n Pop store down the street? Which is more profitable, the one with the higher or lower profit margin?

 

You are forgetting one major thing. Gas is inelastic while cars and notebooks are not.

You have all different types of cars that are competing against one another so the price and margin stays down. If you want cereal, you can choose any of about 19 brands on the shelf so the price and margin stays down in order to stay competitive.

Conversely, your car will not run on water, milk or pepsi. It runs on one thing...gasoline. People Enlightened person and moan about prices going up but the gas companies, thankfully, have not raised their margin percentages when they could do so if they wanted to be the "mean ole evil empire" as the liberals paint them. This is yet more proof that the left hates big money making business. Why don't we talk about all the taxes the gas companies pay? Liberals love taxes.

My whole point on these threads is that talk of "oil companies screwing us" not only has not a lick of economic support, it simply isn't rational.

We know from OPEC that cartels simply don't work. Someone starts to cheat because they reap short term economic benefits from cheating. If every oil company in the world decided to "screw" us, one of them would eventually start cheating and drop the prices because they would economically benefit from doing so.

The only way one can argue some sort of price conspiracy is if they don't understand basic economics (which I think everyone here does) or they ignore that understanding because they want to believe they're getting screwed (which I believe a few posters here are guilty of.)

 

Anyway, McCain's gonna fix it for us.

 

McCain and Osama need to stay out of the way of the oil companies.

 

:iagree: Damn skippy!

 

It was also reported that Exxon paid a record amount in taxes for the quarter, so some good did come out of it for the government. At least we know the government won't waste it :ack:

 

Of course not because no matter the number it wouldn't have been enough. Profit, on the other hand, should be capped but don't dare think about messing with those taxes.

Signed,

Congressional Liberals













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