Who'd a thought ?

[Sonwatcher]

NEW YORK (Reuters) - Exxon Mobil Corp. (XOM.N: Quote, Profile, Research), the world's largest publicly traded oil company, on Monday reported a quarterly profit of $10.7 billion, capping a year of record earnings dominated by surging oil and gas prices.

The results pushed up Exxon's profit for the year to a staggering $36.13 billion -- bigger than the economies of 125 of the 184 countries ranked by the World Bank. Profit rose 42 percent from 2004.

The company and its peers have come under fire for posting billions in profit while consumers struggle with high gasoline prices. Exxon was quick to emphasize that such results would help it make long-term investments to meet energy demand.

 

[todt061458]

This should not be a surprise to anyone here!

 

[KingCobra_CDX882]

The company and its peers have come under fire for posting billions in profit while consumers struggle with high gasoline prices. Exxon was quick to emphasize that such results would help it make long-term investments to meet energy demand.

but then our paying more now....
will be charged far more later anyways..

regardless..
we pay more and more and they make more and more money..

but yes..
this should not be a surprise to anyone

Later

 

[jonbah]

Where are those billions now? That's what I'd like to know. They probably have the balls to says the high profits are from good management decisions? Pahhh!!!

Does higher fuel prices = more tax revenues ? I wonder.
Who owned all those shares that were sold for a high profit?

I just paid $475 to fill my fuel oil tank where it used to cost me $225 and $55 to fill my van where it used to be $28-$32

Inflation my BUTT!!! More like gouging for a cause.

What's causing all this? I don't know and I wish it could be explained so I could understand. It just seems like they are trying to lower the standard of living of the American people.
If everything costs more then theirs less money for the good things in life. Soon the middle class people will only be able to afford to pay the bills and put food on their table if they are lucky, nothing extra.

The price of fuel goes up so does the cost of goods, insurance and whatever else. No wonder Wal-mart is doing so well selling cheep China junk nobody can afford to buy the good stuff or the better material. "Go to Wal-Mart its cheeper" is it really? How long will that cheep item last compared to a quality item that costs twice as much. Look at furniture most of it now days is pressed particle board with a laminate covering. I was pricing dressers 379.00 for the cheep one and $795 for the solid oak real wood one. The cheep one will maybe last five years untill it falls apart and the solid oak one will last a lifetime. Buy the cheep one from China and buy another in five years, see my point. We're all brain washed into thinking cheeper is better."Wrong" They think this creates a strong economy but mainly it just creates more waist and problems to deal with. sorry to babble but this just pi**es me off. You work you butt off to get somewhere and they just sit back and sceem ways to take it back from you.

Jonbah
CDX-3030

 

[yama junk owna]

GREED

 

[the_sandman_454]

If the problem is ever going to be fixed, they would need to find a way to remove hurdles put in place by environmentalists and people who have a NIMBY (not in my back yard) attitude regarding having a refinery near them.

When you increase the demand (more cars on the road than in the past, etc), and the supply stays the same, you see the cost go up. Basic economics. From what I've seen there haven't been any new refineries built for at least 30 years. The chemical plant I work at has some 30+ year old equipment and more often than not it gives us fits. The only way they can avoid more harsh environmental regulations is for them to not substantially upgrade existing facilities, or such was the case few short years ago when I did some looking for it.

They don't want to add refinery capacity anyhow, but it gives them an excuse when they throw up their hands in defeat.

 

[Highlander_821]

The consumer has a very powerful weapon that could bring the price down pretty quick and punish the oil companies for their excesses, but the consumer chooses not to use that weapon.

Stop buying so much petroleum, drive a hybrid, take the bus, carpool, walk, ride a bike, or a small scooter, don't buy SUVs and trucks you don't need, get a wood burning stove or furnace, there are lots of things we could do, and give Exxon and BP a market bruising they haven't seen since '73.

 

[crusader]

spare a thought for us Brits, we are paying aproximately $7.20 a gallon over here, most of the cost is tax and goes straight to the government, over the last couple of years there have been protests,refineries blockaded, lorries forming rolling blockades on motorways etc. which works to a point,but only stalls price hikes for a while and causes panic buying,so everyone fills the tank!the shell execs must laugh thier butts off, lots of suv owners over here are using diesel / cooking oil mixes to save money, trouble is your car smells like a mobile takeout or a bar-b-que on wheels. lol
all the best.

 

[Captain Kilowatt]

.... lots of suv owners over here are using diesel / cooking oil mixes to save money, trouble is your car smells like a mobile takeout or a bar-b-que on wheels. lol
all the best.

And what's wrong with that? LOL

 

[MADMAXS 455]

here's something to think about..
http://www.lifeaftertheoilcrash.net/

 

[jonbah]

Crusader-

We feel for you man, Canada's prices are up there too. I don't know how we deal with prices like that. I guess we should feel lucky here in the U.S. but things are tough all over.

I've been doing allot of reading up on alternative fuels.

www.lifeaftertheoilcrash.net/

This is no B.S. and everybody should read it.