ccowden 0 #1 January 30, 2006 Exxon Mobil just posted an all-time record for U.S. companies with a $10.71 billion profit for the fourth quarter and a $36.13 billion profit for the year. And yet, gas prices continue to rise and consumers continue to pay through the nose. Exxon Mobil only lost 1 percent of it's production due to hurricanes and has obviously not suffered any loss. What they have done is take advantage of a disaster to fictitiously create a fuel shortage and production loss to post the highest profit for their company ever. Now, I was under the assumption that it was illeagal to price gouge and I have heard of businesses being sued or fined because they do it, so why is Exxon allowed to do this so publicly with absolutely no repercussions? Oil prices are down, fuel oil and natural gas demand is down due to warm temperatures, and production is right on track. So why is the consumer still paying more while Exxon gets rich? A $36 BILLION profit???? What am I missing here? Quote Share this post Link to post Share on other sites
shropshire 0 #2 January 30, 2006 I think that you do know..... you used the reason in your post -PROFIT. These companies know that there is a very limited supply and they're cashing in whilst they still can. They know that we will buy their fuel .... we've got no where else to go! . (.)Y(.) Chivalry is not dead; it only sleeps for want of work to do. - Jerome K Jerome Quote Share this post Link to post Share on other sites
monkycndo 0 #3 January 30, 2006 Yep, you're misssing your little tube of lube so it doesn't hurt so much when you grab your ankles.50 donations so far. Give it a try. You know you want to spank it Jump an Infinity Quote Share this post Link to post Share on other sites
justinb138 0 #4 January 30, 2006 You can buy alot of congressmen with that much money. Quote Share this post Link to post Share on other sites
karenmeal 0 #5 January 30, 2006 It's because their profit margin is a percentage, not a fixed amount. The price of oil is going up, but as the price rises, so does their cut. It's also because they're not investing so much of their profits in finding new oil supplies, just pocketing it. But it looks like they will have to start investing more of it, so I supose that would decrease their profit in the meantime.. until the investments started paying off. Did that make sense? "Life is a temporary victory over the causes which induce death." - Sylvester Graham Quote Share this post Link to post Share on other sites
ccowden 0 #6 January 31, 2006 Sure, but I didn't mean in a sense that I didn't understand what they are doing. I don't understand how they are allowed to make a 36 billion dollar profit and set all time records for profits when everyone else has to pay more so they can do it. It doesn't even seem legal to me. Quote Share this post Link to post Share on other sites
diablopilot 2 #7 January 31, 2006 QuoteNow, I was under the assumption that it was illeagal to price gouge and I have heard of businesses being sued or fined because they do it, so why is Exxon allowed to do this so publicly with absolutely no repercussions? Two words. Pay off. Want three more? Polititians in pocket.---------------------------------------------- You're not as good as you think you are. Seriously. Quote Share this post Link to post Share on other sites
yamtx73 0 #8 January 31, 2006 It's not who you know it's who you own....The only naturals in this sport shit thru feathers... Quote Share this post Link to post Share on other sites
ccowden 0 #9 January 31, 2006 So what do we do? A "Boston Tea Party?" Quote Share this post Link to post Share on other sites
yamtx73 0 #10 January 31, 2006 QuoteSo what do we do? A "Boston Tea Party?" Wish the answer were that simple... Even boycotting buying gas on certain days doesn't really work because we still need it. Alternate means of transportation are about our only options these days.The only naturals in this sport shit thru feathers... Quote Share this post Link to post Share on other sites
Broke 0 #11 January 31, 2006 QuoteSo what do we do? A "Boston Tea Party?" Not if you want to get the EPA and greenpiece on your ass... lolDivot your source for all things Hillbilly. Anvil Brother 84 SCR 14192 Quote Share this post Link to post Share on other sites
ExAFO 0 #12 January 31, 2006 It'll be really fun crossing the Atlantic in sail (or nuclear) powered vessels. The price of Horses will also go up. (I should invest in horseshoe stock) "Peak Oil" proponents will be just as fucked as the rest of humanity, but they will have a smug "told ya so" mentality. Driving from NY to LA will take three weeks with shitty solar cars.Illinois needs a CCW Law. NOW. Quote Share this post Link to post Share on other sites
mark 107 #13 January 31, 2006 QuoteExxon Mobil just posted an all-time record for U.S. companies with a $10.71 billion profit for the fourth quarter and a $36.13 billion profit for the year. On the way to Speakers Corner: Their reported 4th quarter income was up also, to $100 billion. That means profits in the 10% range. Is that a lot? How much do you think their profits should be? Would you be willing to subsidize them if their profits are too small? Do you think other industries should be have their profits restricted? How about real estate? IT? Profits are the difference between what it costs to produce something and what the product is worth. They are a measure of wealth creation; wealth which is re-invested elsewhere. Is creating wealth bad? Or is this just creating the wrong kind of wealth? Profits are a measure of efficiency. If Exxon Mobil was less efficient about getting its product to market, it would have a smaller profit. Would that be a good thing? QuoteWhat am I missing here? Econ 101. Mark Quote Share this post Link to post Share on other sites
ccowden 0 #14 January 31, 2006 Quote99% of life is what you make of it, So if your life sucks YOU SUCK Dude! I didn't know there were any other ST fans left! "And if I offened you, oh I'm sorry. Here's my apology, and one more thing..." Quote Share this post Link to post Share on other sites
jumpinfarmer 0 #15 January 31, 2006 I agree that the price of fuel sucks big time. I use a lot of it and other things that depend on petroleum as well so my cost of production for our farm has went up tremendously. However I think limiting the profit a company can make is a very slippery slope. Turn this around and think what would happen if food doubled in price in a two year time. Quote Share this post Link to post Share on other sites
