Exxon Profit report

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jminion1

Sous Chef
Joined
Jan 5, 2005
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671
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So much for the idea that pricing is based on supply and demand. If profits were nuetral I could understand the prices but that certainly is not the case.
Jim
 
Yep, we all bitch about big business making profits, but my 401 was way up in the third quarter. Can't have it both ways aye?
 
Woodman said:
Yep, we all bitch about big business making profits, but my 401 was way up in the third quarter. Can't have it both ways aye?

I have to come down on Woody's side on this one. I've heard people complain about oil company profits since I was old enough to drive. I'd a thunk that if anybody was serious some type of solution would have been found by now, alternative fuels, price controls, gas tax rollbacks. boycotts, etc. etc. etc., but nothing has happened(and I know why, don't really need economics lesson) and here we are, still complaining about oil company profits.

Price gouging on the part of the oil companies during the hurricanes, yes, absolutely. But let's not hold our breath for Congressional Hearings or indictments for oil company executives, because you know as well as I do, that ain't gonna happen.

Thinking this situation would be different with another party or a different person in that big white house on PA Avenue, is ignoring the past.

It is supply and demand driven by an out of control media that hyped the possibility of gas and oil shortages due to the hurricanes that made the public panic and provided cover for the oil companies to raise their prices.

I paid $2.39 for gas yesterday, hear anything about NOLA or refinery damage in the news lately?????????

I'll get down now :rant:
 
Meanwhile, this winter, some people will have to choose between heating their homes and buying food and prescripion medicines.
 
I agree with Bob that it doesn't matter who's in control. The American people just keep getting up the pooper. It's all about the money folks. The politicians have more money than most people will ever realize. They are more concerned about the currency fluctuations in third world countries than they are in the welfare of the people in this country. At some point we will have to take our country back. I don't think we are very far from that day coming.
 
Profit is not a bad thing, but I really doubt most folks 401K is keeping up with the effects of what's happening with fuel. What we are paying can feel painful at the pump but this effects every product you buy. Most freight is trucked around the country, those folks were paying about $200 for a fuel up now there paying closer to $800.
When one industry gets this type blessing from the government to rape the public in the end we all get hurt. Unless your setting on the Board of an oil company this isn't making your life better.
Jim
 
That's true Jim. I sell molded and extruded plastic products for a living. Polyolefins,(ethylene and propylene,) have increased in price from 50-80% since June.Watch for the pricing on EVERYTHING made from plastic to increase dramatically in the coming months I think that the "we need gas and it is the big oil companies responsibility to keep it affordable," argument that some are making is lame though. We have known that we were paying a false low price for gas for years. We also know it is a finite resource, yet we continue to build and buy huge gas guzzling machines. We also drive EVERYWHERE!And, we haven't really seriously delved into alternatives. I don't believe that the gas supply has increased in the last week since pricing has dropped, but I do believe that alot of folks have suddenly curtailed their demand.I know at least two people who have dumped SUV's for small cars. This is a small dose of reality people. And, like it or not, the only thing keeping the economy afloat right now are the profits of these large companies. Woody

ps. You all better hope that the Saud family can hold the fort there, because if they fall, it'll be either WWIII, or $10.00/gal gas, or both!
 
Woody
I agree but the big oil Exxon and Shell as two examples are being allowed to rape and pilage right now because the government is allowing it. There is no reality here as we are told that this a market driven. This administration is allowing their freinds to do a money grab that is going to cause interest rates to be raised to offset their greed. This is snowball effect that in the long run will make these companies richer and the middle class shrink even smaller.
The state and local government are also involved because of the way they tax they are getting a bigger cut of each gallon.
The inflation happening right is being paid by the middle class, the question is becoming at what age is the average American going to be able to retire and have any kind of a life style.
Jim
 
It is a free market economy Jim.Don't get me wrong, I hate what is happening too, but this is just the beginning of the "slap in the face" facing all Americans as we sacrifice our "lavish" lifestyle" so that the rest of the world can enjoy a better one too. We are part of the "global economy" now. Bottom line is, if we don't want to pay $3.00/gallon for gas, they will pay $6.00 in Zurich, Beijing, or Perth. The "Golded Age of America" is over folks. Next up; get used to making a "good living" at $20 k /year!
 
This is really meant at no one in particular, but sometimes it amazes me that people who can afford to have 5, 10, 15 thousand dollar BBQ cookers in their backyard (which I know they all worked hard to get) and the vehicles to pull them around to competitions, can complain about how tough things are here.

Yeah, the price of gas is high, it's $2.32 here today, but as Woody says it has been artificially low for years. A gallon of milk is more expensive, where is the outcry?

I don't know about you, but is there really another country where I'd rather be living now, NO! Anybody?
 
I hear what your saying Bruce but my family doesn't go through 30 gallons of milk a week so I really don't care much about the price of milk or gas for that matter. It's diesel that's killing me right now! It was just about six weeks ago when diesel whas cheaper than regular now it's over $1 higher. Why is that? It's because they have a monopoly with the truckers. These high oil prices are now affecting all prices across the board. And what does that idiot Greenspan do: continues to rise interest rates, as if that is going to solve the problem. The idiot already kicked us into one recession in 2000 and now he's looking to give us another one as his good bye gift to America. Do you remeber his term irrational exuberance. Well he pretty much took care of that! :rant:
 
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