How long will we let the oil companies SHAFT us?

[Cogito Ergo Sum]

$10.71 ****ING BILLION QUARTERLY PROFIT DURING THE SUPPOSED KATRINA OIL SHORTAGE WHEN PRICES WERE GOUGED BEYOND BELIEF!!! WAKE UP, CONSUMPTION DID NOT RISE, IT'S A LIE. JUST THE PRICE THEY WERE CHARGING YOU CHANGED. THEY CLAIM SUPPLY AND DEMAND BUT DEMAND WAS THE SAME AND SUPPLY WAS NOT EVEN SIGNIFICANTLY AFFECTED.

****ING LYING ASS OIL COMPANIES! WE'VE ALL BEEN ****ED HARD BY THEM!

$36.13 BILLION PROFIT...1 COMPANY.

OUT OF ****ING CONTROL!!!

SOMEBODY PLEASE TELL ME ONCE AGAIN HOW BUSH'S OIL BUDDIES AREN'T GETTING DISGUSTINGLY RICH RIPPING PEOPLE OFF. RIGHT.


http://www.cbsnews.com/stories/2006/01/30/business/main1253326.shtml

(AP) Exxon Mobil Corp. posted a record quarterly profit for a U.S. company on Monday, $10.71 billion in the fourth quarter, as the world's biggest publicly traded oil company benefited from high oil and gas prices and demand for refined products.

The company's earnings amounted to $1.71 per share, up from $8.42 billion, or $1.30 per share, in the year ago quarter. The result topped the then-record quarterly profit of $9.92 billion Exxon posted in the 2005 third quarter.

The recent quarter included a $390 million gain related to a litigation settlement. Excluding special items, earnings were $10.32 billion, or $1.65 per share. The result topped Wall Street's expectations. Analysts surveyed by Thomson Financial predicted earnings of $1.44 per share.

Quarterly revenue ballooned to $99.66 billion from $83.37 billion a year ago but came in shy of the $100.72 billion Exxon posted in the third quarter, which was the first time a U.S. public company generated more than $100 billion in sales in a single quarter.

By segment, exploration and production earnings rose sharply to $7.04 billion, up $2.15 billion from the 2004 quarter, reflecting higher crude oil and natural gas prices. Production decreased by 1 percent due to the lingering effects of hurricanes Katrina and Rita, which battered the Gulf Coast in August and September.

The company's refining and marketing segment reported $2.39 billion in earnings, as higher refining and marketing margins helped offset the residual effects of the hurricanes.

Exxon's chemicals business saw earnings, excluding special items, decline by $413 million to $835 million, as higher materials costs squeezed margins.

For the full year, net income surged 43 percent to $36.13 billion, or $5.71 per share, from $25.33 billion, or $3.89 per share, in 2004. Annual revenue grew to $371 billion from $298.04 billion.

 

[hugo]

What you have to recognize is that profit was approximately 10% of revenues. If you eliminated profit completely prices would only be 10% lower. Hardly a ripoff.

 

[Cogito Ergo Sum]

What you have to recognize is that profit was approximately 10% of revenues. If you eliminated profit completely prices would only be 10% lower. Hardly a ripoff.

Well, this is assuming of course, that the corporate books are not cooked to the max which I fear that all corporations books are to some extent today.

However...

Damn Good Point You Got There.

****er...

 

[Cogito Ergo Sum]

What you have to recognize is that profit was approximately 10% of revenues. If you eliminated profit completely prices would only be 10% lower. Hardly a ripoff.

If I could have given you good rep. I would have. But the system won't let me. Stupid system.

 

[fullauto]

I am in favor or requiring the Oil giants to put no less than 5% of their quarterly profits toward Hydrogen Fuel research, without increasing the price to compensate... They have bilked us long enough, it's high time we bilk them a bit!

But we really wouldn't be bilking them a bit... just requiring them to do something that they should have done years ago! And the kicker of it is, when they do make a breakthrough of sorts, they will have royalties, and distribution profits as well as being the primary provider of the fuel, materials, technology etc.... They would actually make ALOT more money in the form of Western nations getting off Arab oil and buying into American Hydrogen fuel and it's technology!

We could bankrupt the East while we ensure that the West's energy reserves are never compromised! Win Win situation... And think of all the war and security problems that would go away if we stopped relying on Islam for oil! WOW ! ! !

Not to mention the cost of medical treatment for Fossil fuel related illness, pollution, etc....

 

[Komrade Vostok Hazard]

$10.71 ****ING BILLION QUARTERLY PROFIT DURING THE SUPPOSED KATRINA OIL SHORTAGE WHEN PRICES WERE GOUGED BEYOND BELIEF!!! WAKE UP, CONSUMPTION DID NOT RISE, IT'S A LIE. JUST THE PRICE THEY WERE CHARGING YOU CHANGED. THEY CLAIM SUPPLY AND DEMAND BUT DEMAND WAS THE SAME AND SUPPLY WAS NOT EVEN SIGNIFICANTLY AFFECTED.

****ING LYING ASS OIL COMPANIES! WE'VE ALL BEEN ****ED HARD BY THEM!

$36.13 BILLION PROFIT...1 COMPANY.

OUT OF ****ING CONTROL!!!

SOMEBODY PLEASE TELL ME ONCE AGAIN HOW BUSH'S OIL BUDDIES AREN'T GETTING DISGUSTINGLY RICH RIPPING PEOPLE OFF. RIGHT.


http://www.cbsnews.com/stories/2006/01/30/business/main1253326.shtml

(AP) Exxon Mobil Corp. posted a record quarterly profit for a U.S. company on Monday, $10.71 billion in the fourth quarter, as the world's biggest publicly traded oil company benefited from high oil and gas prices and demand for refined products.

The company's earnings amounted to $1.71 per share, up from $8.42 billion, or $1.30 per share, in the year ago quarter. The result topped the then-record quarterly profit of $9.92 billion Exxon posted in the 2005 third quarter.

The recent quarter included a $390 million gain related to a litigation settlement. Excluding special items, earnings were $10.32 billion, or $1.65 per share. The result topped Wall Street's expectations. Analysts surveyed by Thomson Financial predicted earnings of $1.44 per share.

Quarterly revenue ballooned to $99.66 billion from $83.37 billion a year ago but came in shy of the $100.72 billion Exxon posted in the third quarter, which was the first time a U.S. public company generated more than $100 billion in sales in a single quarter.

By segment, exploration and production earnings rose sharply to $7.04 billion, up $2.15 billion from the 2004 quarter, reflecting higher crude oil and natural gas prices. Production decreased by 1 percent due to the lingering effects of hurricanes Katrina and Rita, which battered the Gulf Coast in August and September.

The company's refining and marketing segment reported $2.39 billion in earnings, as higher refining and marketing margins helped offset the residual effects of the hurricanes.

Exxon's chemicals business saw earnings, excluding special items, decline by $413 million to $835 million, as higher materials costs squeezed margins.

For the full year, net income surged 43 percent to $36.13 billion, or $5.71 per share, from $25.33 billion, or $3.89 per share, in 2004. Annual revenue grew to $371 billion from $298.04 billion.

They'll shaft us as long as we depend on them...

 

[hopeUslide]

Walk, it's good excercise. Get in shape, the muslims are coming.

 

[quarky]

Have you ever thought what is going to happen when the all the oil is gone? We use it like its a never ending source, but its days are numbered and if something is not done to find a new source of cheap clean power the world in a hole will be screwed. You have to wonder if that is what's driving up oil prices and not just the war in the middle east?

In australia we're paying around $1.30 per litre now that is a kick in the balls

 

[hugo]

Have you ever thought what is going to happen when the all the oil is gone? We use it like its a never ending source, but its days are numbered and if something is not done to find a new source of cheap clean power the world in a hole will be screwed. You have to wonder if that is what's driving up oil prices and not just the war in the middle east?

In australia we're paying around $1.30 per litre now that is a kick in the balls

Well, since we only pay 60 cents a litre you are clearly being overly taxed. In the US we pay I believe about 35 cents a gallon in taxes. If the 10% profit margin is also true for gasoline we are currently paying less than 25 cents a gallon to the oil company in profits, Stop blaming the oil companies and blame your government.

 

[quarky]

Well, since we only pay 60 cents a litre you are clearly being overly taxed. In the US we pay I believe about 35 cents a gallon in taxes. If the 10% profit margin is also true for gasoline we are currently paying less than 25 cents a gallon to the oil company in profits, Stop blaming the oil companies and blame your government.

My god that is cheap!
The Howard goverment taxes us a flat rate or around 60 cents a liter, then good and services tax on top of that, which has a variable rate tied into the cost proce of oil and inflation rate, so all up we pay around 70-90 cents tax per liter of fuel

 

[Cogito Ergo Sum]

Well, since we only pay 60 cents a litre you are clearly being overly taxed. In the US we pay I believe about 35 cents a gallon in taxes. If the 10% profit margin is also true for gasoline we are currently paying less than 25 cents a gallon to the oil company in profits, Stop blaming the oil companies and blame your government.

Hugo understates the truth here...

Hugo's version of "reality" is all predicated on an assumption that the oil companies are telling the truth that they only netted 10% profit on their 100 billion worth of sales after "expenses". I highly doubt it.

Remember, they can cook off their books to show expenses which really aren't there, overstate their expenses, provisions for reserves, etc. so that they make it look like they are living off of a 10% margin. Rest assured, they are not. If you are stupid enough to not realize that they do this, then you are hopeless. Corporate book cooking is the name of the game nowadays and every week, some other company is being indicted or CEO taken to criminal court. It's a reality today. Sad.

Next, the taxes on fuel in this country consist of federal excise tax, state fuel tax, local fuel tax, state sales tax, local sales tax, and state environment/inspection fees. The tax burden on motor fuels is staggering! In some cases, it represents at least 1/3 of the price of motor fuel!

Funny thing is, I'm curious how much at the end of the day, the American Oil companies paid in income taxes because once again they are able to jiggle the books, defer tax payments, alter corporate depreciation schedules at a whim to make huge changes in tax liabilities - for example - ExxonMobil closed 2003 with $20.1 billion in deferred income tax liabilities on the balance sheet. In regulatory filings, the company doesn't break out actual cash taxes paid.

Of course not...

Wouldn't you like to defer you income tax indefinitely and be able to "adjust" your expenses and depreciations years later to offset your previous tax liabilities? Nice hat trick.

Our country will seriously improve when EVERYBODY, including corporations, pays a FLAT TAX. No more deductions, no smoke and mirrors, no more fancy pants accountants cooking the books, just a simple math flat tax system that a 6th grade child could computer the taxes owed.

This country would be out of debt so fast it wouldn't even be funny. Finally, everybody would pay an equal share just like they already do with sales taxes.

 

[builder]

But CES, how will the glorious showboat show such colours of triumph without gouging the **** out of the working class?

War costs money. Showboating costs money. Just keep your nose to the grindstone, and everything will work out just fine. Maybe. no promises.

 

[Mohammed_Rots_In_Hell]

...Hugo's version of "reality" is all predicated on an assumption that the oil companies are telling the truth that they only netted 10% profit on their 100 billion worth of sales after "expenses". I highly doubt it.

Remember, they can cook off their books to show expenses which really aren't there, overstate their expenses, provisions for reserves, etc. so that they make it look like they are living off of a 10% margin. Rest assured, they are not. If you are stupid enough to not realize that they do this, then you are hopeless. Corporate book cooking is the name of the game nowadays and every week, some other company is being indicted or CEO taken to criminal court. It's a reality today. Sad....

Do you have any proof of this? CES, anyone can claim this. For example I could claim that we live in US if THEY are not lying to us, The British actually set up an experiment back in 1776 to see if they could dupe us into thinking we are our own sovreignty and they just made up the War of 1812 and the Revolution.

This is what you are doing by claiming that they (Exxon) is lying without any proof... It's just your weird, baseless theory.

 

[Cogito Ergo Sum]

Do you have any proof of this? CES, anyone can claim this. For example I could claim that we live in US if THEY are not lying to us, The British actually set up an experiment back in 1776 to see if they could dupe us into thinking we are our own sovreignty and they just made up the War of 1812 and the Revolution.

This is what you are doing by claiming that they (Exxon) is lying without any proof... It's just your weird, baseless theory.

Okay, now I ask you...are you awake? Have you been in a drug induced stupor for the last few years?

President Bush signed the Corporate Corruption Bill into law because the corporate lying and cheating was completely rampant and out of control.

Millions of American citizens saw their investments turn into dirt overnight as each successive corporate accounting "irregularity" was exposed and eventually plunged the company into financial ruin taking the stockholders and like with it.

So far we've seen the prosecution of numerous CEO's and CFO and there are still many more companies under federal investigation.

****, just a few weeks ago, the head of a Japanese firm killed himself because he was caught in corporate corruption.

Corporations, especially the men/women who run them, think that they are above the law, that they can lie at will and get away with it.

I haven't got a clue where you could somehow label this as my "weird, baseless theory"

 

[RoyalOrleans]

Corporations, especially the men/women who run them, think that they are above the law, that they can lie at will and get away with it.

CES, when you draw on like this you sound like Stephen Seagal. Who, by the way, puts so much oil in that hair of his that OPEC will use him in their 2006 campaign; aptly named "Kick the Hell out of Towelheads".

 

[Mohammed_Rots_In_Hell]

Okay, now I ask you...are you awake? Have you been in a drug induced stupor for the last few years?

Why YES! I have in fact been smoking pot every day for the past couple of years. Thank You, but I don't see what that has to do with your very baseless allogation of corporate corruption at Exxon.

President Bush signed the Corporate Corruption Bill into law because the corporate lying and cheating was completely rampant and out of control.

Yes, It was called Sarbanes-Oxley and was a knee-jerk reaction to the stock devaluation of Enron and Global Crossing cooking their books to make their companies look more profitable than they actually were.

Millions of American citizens saw their investments turn into dirt overnight as each successive corporate accounting "irregularity" was exposed and eventually plunged the company into financial ruin taking the stockholders and like with it.

Yes, those who invested heavily in Enron and Global Crossing. (anyone who puts all of their eggs in one basket is asking for trouble; but that's another topic)

So far we've seen the prosecution of numerous CEO's and CFO and there are still many more companies under federal investigation.

Keneth Lay is the only one I know of, though their may be more... Not ONE Exxon employee is being tried or under indictment. Not that I'm a fan of Exxon, I just want to see more proof than "One or two did it so ALL are doing it". I remember a time when one black man would commit a crime and society would indict all blacks, let's not digress to that era, please.

****, just a few weeks ago, the head of a Japanese firm killed himself because he was caught in corporate corruption.

Hare-Kare? Who gives a ****? Was he an Exxon Employee? Still no proof of your claim.

Corporations, especially the men/women who run them, think that they are above the law, that they can lie at will and get away with it.

Every last one of them, eh? And I'm the bad-guy because I believe Islam is inherently evil... sheesh.

I haven't got a clue where you could somehow label this as my "weird, baseless theory"

Well, that's because it's weird and baseless. Come back with verifiable evidence that Exxon is actually breaking law. And I will be the first to capitulate my stance. Until then, I will view them as inocent 'till proven guilty.

 

[hugo]

Hugo understates the truth here...

IRemember, they can cook off their books to show expenses which really aren't there, overstate their expenses, provisions for reserves, etc. so that they make it look like they are living off of a 10% margin. Rest assured, they are not. If you are stupid enough to not realize that they do this, then you are hopeless. Corporate book cooking is the name of the game nowadays and every week, some other company is being indicted or CEO taken to criminal court. It's a reality today. Sad.

How 1970's thinking. Most CEO's being indicted are being indicted for overstating the corporations income in order to attract investors in the era of the day trader.

The books tend to be cooked to inflate income (e.g. Enron, Fannie Mae) not deflate it.

Independent businessman keep more money by understating income, CEO's make more money by overstating income. If Exxon is corrupt they would be overstaing income, not understating it.

 

[hugo]

[Concerning number one it is this simple: You the consumer will pay what ever they charge, period. They try to pacify you by doing the gradual price slide over time, but in the end you will pay, because you are dependant on Oil period.
[

You are a bleeping<---Phreak say's.. THE WORD IS ****ING we don't BLEEP here!! moron. If the consumer would pay whatever they charged the price would be much higher than it is today. Additionally oil prices have been stable for long periods of time with occassional intervals of sudden price raises (which for some odd reason coincide with supply problems) not a gradual price rise over time. Remove your head from your ass, you might be able to see a bit clearer.

 

[fullauto]

Why YES! I have in fact been smoking pot every day for the past couple of years. Thank You, but I don't see what that has to do with your very baseless allogation of corporate corruption at Exxon.

Yes, It was called Sarbanes-Oxley and was a knee-jerk reaction to the stock devaluation of Enron and Global Crossing cooking their books to make their companies look more profitable than they actually were.

Yes, those who invested heavily in Enron and Global Crossing. (anyone who puts all of their eggs in one basket is asking for trouble; but that's another topic)

Keneth Lay is the only one I know of, though their may be more... Not ONE Exxon employee is being tried or under indictment. Not that I'm a fan of Exxon, I just want to see more proof than "One or two did it so ALL are doing it". I remember a time when one black man would commit a crime and society would indict all blacks, let's not digress to that era, please.

Hare-Kare? Who gives a ****? Was he an Exxon Employee? Still no proof of your claim.

Every last one of them, eh? And I'm the bad-guy because I believe Islam is inherently evil... sheesh.

Well, that's because it's weird and baseless. Come back with verifiable evidence that Exxon is actually breaking law. And I will be the first to capitulate my stance. Until then, I will view them as inocent 'till proven guilty.

How DARE you use logic and reason whilst making the sacred argument with his majesty CES ! !

And to assume ones innocence until such proof is given to the contrary?
Who the hell do you think you are?!

And My favorite blunder of logical people... To admit that it is possible for your position to be flawed, and account for this anomaly by admitting that you will change your position as new evidence comes to light!

Man... What a war mongering FOOL you must be to admit you don't have all the info! You don't see CES claiming that he may not know everything, DO YOU?!

HELL NO... He's Yoda, The ****ing Oracle a Delphi, and a corporate accountant all rolled into one big ****ing Cerebral Tacito!

All Heil CES ! ! !

The giver of light!
The Slayer of that mean ass dragon on the west side of the Mountain!
Father of Quantum Mechanics
And the only person around who claims to understand "The collapse of the Wave Function!"

All Praise be unto CES ! ! !

 

[Cogito Ergo Sum]

Yeah...all hail me. I like that. Thanks.

However, I am not the King. That's Hugh G. Rekshun's title.

Thanks for playing.