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Old 02-02-2008, 07:51 AM   #1
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Exxon gas

I just read today's paper front page said Exxon made a record $40.6 billion last year. If they wanted to buy us gas that's enough for four 15 gallon fill-ups for about 243 million registered vehicles.. WOW

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Old 02-02-2008, 07:53 AM   #2
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Exxon gas

Imagin that. The price per barrel went down and the gas prices around here went up. WTF
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Old 02-02-2008, 09:34 AM   #3
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ima bout fed up with these "inflated" gas prices... they are KILLING the little people. There is NO possible reason why they need to make 40.6 BILLION in profit. NONE
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Old 02-02-2008, 10:34 AM   #4
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Exxon gas

What most people fail to take into consideration is they also sold a record amount of fuel in the same period. SO it stands to reason if they sold a record amount of fuel they would also reap a record amount of profits....just because it's a record amount of profit doesn't mean it was disproportionate to the amount of product sold.

Lets see:

1000 gallons sold @ .30 cents profit per gallon would be $300

10000 gallons sold @ .30 cents profit per gallon would be $3000

100000 gallons sold @ .30 cents profit per gallon would be $30000

The conspiracy theorists and media people will only tell you they made a record profit without reminding you they made the same amount per gallon of gas as they did before, they just sold more gallons......so it's even money guys....no need to believe what the media feeds you. Educate yourselves on how profit margins work vs. net profit and consider the other variables.

And about the falling barrel price vs. still high gas prices.....the companies bought their crude when the price was high, they cant sell the gas cheaper today because the barrel price went down or they would lose money. If they didn't charge at least a minimum amount to recoup their cost, they would not have enough money to buy more crude at the lower prices, or at least, they would not be able to buy as much. Why would that matter? The more they can buy the better price they get, the cheaper they can make it, the cheaper it ends up at the pump.

If any of you have paid attention at all, gas prices at the pump do not always move with the price of crude oil. The two products are very much removed from each other. A ton of time and costs in refining occur before you see it at the pump.

Also, being in close contact with people in the gasoline business, I also know that what you pay at the pump is determined by what they had to pay for it when they got filled from the tanker. If the price to get filled up suddenly rises or drops, they have to adjust the price of what they already have in the ground so they can afford to re-purchase fuel for you to buy next time you need it.

There really is a lot to take into consideration guys. You simply cannot take the "record profits" and "price of barrel of oil" and such reports at face value. The media will make it sound any way they want, politicians will do the same thing, you have to do a LOT of reading and talking to people within the industry to understand things, and when you do you wont be one of those "the big oil companies are screwing us" people......

They are a business, they either make money or go away, yes they make profits, like any other business, but if you do your research i think you will find that they make profits proportionately to their costs as well.
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Old 02-02-2008, 10:54 AM   #5
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Exxon gas

With such a struggling economy, maybe instead of filling their pockets with so much money they cut profits a bit and still live more than comfortable. We were discussing cars at work the other day. Compare the salary of GM CEO's with the salary of Toyota CEO's. I understand, everybody wants to be rich and live a good life, but how much can you really spend?
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Old 02-02-2008, 11:44 AM   #6
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Exxon gas

I think it would be interesting to see what they do with the profits.
ie... More R&D?
Pay the shareholders?
Nice fat bonuses for management?
Charitable causes?
Political payoffs? (not that, that would happen )
Find ways to lower the cost of oil?
Future energy sources? (if they were smart)
Fund the war for oil? (oops, I mean war in Iraq)

All of the above plus more...

For fear of being a hypocrite (I do drive a HEMI that only gets 16mpg on a good day) it would be nice if they would lower the profit margin slightly per gallon. (c'mon 40.6 billion in profits!!!) Geez, do you think they could live without a couple of billion? Hmmmm, do you really want to stimulate the economy? How about 10-20 cents less per gallon at the pump. Even the media (yea I know, more media hype) is warning (read scare-ing) the price per gallon will jump to 3.50-4.00 during the summer months. Maybe my 'stimulate the economy' rebate check will cover the added cost of the gas increase. Or at least some of it...

My jaded opinion...
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Old 02-02-2008, 12:15 PM   #7
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Exxon gas

They might put some towards cellulosic ethanol so they can monopolize that market
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Old 02-02-2008, 12:23 PM   #8
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Exxon gas

I see that unleaded gas is selling for $2.28 on the commodities market..hummm.
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Old 02-02-2008, 12:46 PM   #9
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Exxon gas

I think part of the problem with gas pump prices fluctuating so much is that no new refineries have been built in so long. The supply has been far outstripped by the demand.
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Old 02-02-2008, 01:31 PM   #10
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Exxon gas

I only buy Sunoco.

They use zero Arab oil.

Exxon sucks.
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