Exxon Mobil With Record Profits --Again - Mercedes-Benz Forum

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post #1 of 44 (permalink) Old 02-01-2008, 09:53 AM Thread Starter
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Exxon Mobil With Record Profits --Again

February 1, 2008
Exxon Mobil Profit Sets Record Again
By JAD MOUAWAD

Exxon Mobil delivered its strongest performance ever last year, earning a record $40.6 billion in net income because of surging oil prices, the company said Friday.

The figure, a 3 percent increase from the previous year, exceeded the company’s own record for profits at an American corporation, set in 2006, and is nearly twice what it earned in 2003.

Exxon said its fourth-quarter net income rose 14 percent, to $11.7 billion, or $2.13 a share. That also made it the company’s most profitable quarter ever.

The top Western oil companies are having a tougher time finding reserves and expanding their production as access to resources has tightened in recent years in places like Russia and Venezuela and conventional sources of oil dries up in the North Sea. The industry is also being pressured by rising costs and shortages of workers, rigs and engineering capacity.

But Exxon, like most oil companies, has benefited from a near-doubling of oil prices last year. In New York, oil futures rose from a year-low of about $50 a barrel in early 2007 to a peak of nearly $100 by the end of the year.

The company recorded annual sales of $404.5 billion, up 7 percent from 2006. It had $20.9 billion in capital and exploration expenditure, up $1 billion from the previous year.

Exxon expanded its hydrocarbons production in the fourth quarter by 1 percent, thanks to growing natural gas output from its projects in Qatar. Natural gas production rose 12 percent, to 10.4 billion cubic feet a day, in the fourth quarter.

But oil production dropped by 6 percent in the last quarter, to 2.5 million barrels a day, after the company pulled out of Venezuela.

http://www.nytimes.com/2008/02/01/bu...cnd-exxon.html
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post #2 of 44 (permalink) Old 02-01-2008, 10:02 AM
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Nothing to look at here, just circumstance, move along please.
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post #3 of 44 (permalink) Old 02-01-2008, 10:26 AM
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Oh yeah, circumstance you say, well guess what: There is a shortage of alkalytes (the stuff that was substituted for MTBE) for mixing at the refining process for the summer blend. Why in the hell is there such shortage in a world where computer modeling runs supreme? It's simple, it's planned to make sure we end up paying inflated prices at the pump for the "limited" quantities of refined gasoline. The bottom line we are the victims taken to the slaughter house while they get away with it because of an oopsie. Plan on $4.00 a gallon by the summer folks, it's just the way it is and you can't do a damned thing about it. Remember that pushing prices to this level also serves as priming for your poor minds to accept even higher prices. It's simple psychology you dumb dumbs, cough it up and take it up the arse with no lube... Oh lube is a petroleum product too
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post #4 of 44 (permalink) Old 02-01-2008, 11:53 AM
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But hey, this will keep the energy sector trending up for another quarter which might keep the aggregate economy from being called a recession. Go Exxon.

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post #5 of 44 (permalink) Old 10-30-2008, 10:50 PM Thread Starter
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The fun never stops

NEW YORK (MarketWatch) -- Exxon Mobil Corp.'s third-quarter net income rose 58% to a new record of nearly $15 billion, the energy giant said Thursday, in a likely swan song for groundbreaking profits tied to this past summer's triple-digit prices for crude oil.

That's a rate of $60 Billion per year in profit. Next time we get a republican president, I hope I'll have the sense to invest in the oil bidness!
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post #6 of 44 (permalink) Old 10-31-2008, 05:02 AM
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Quote:
Originally Posted by Marsden View Post
NEW YORK (MarketWatch) -- Exxon Mobil Corp.'s third-quarter net income rose 58% to a new record of nearly $15 billion, the energy giant said Thursday, in a likely swan song for groundbreaking profits tied to this past summer's triple-digit prices for crude oil.

That's a rate of $60 Billion per year in profit. Next time we get a republican president, I hope I'll have the sense to invest in the oil bidness!
Bush was too busy listening to his military advisers and did not pay enough attention to the market. But this was a minor mistake and will only cost America it's economy so what the hell lets go kill some more rag heads

When the bankers have run away with the money that B gave em, who will pay for the dead and wounded? Who gives a shit lets kill a few more rag heads?

Anyways back to the agenda and Iran/Syria are on the rag head hit list

OH and whilst I think about it why has Mr B not given Russia any more slaps over Georgia? Because his military advisers suggested otherwise or simply because they are powerful and also not rag heads but simply vodka slurping hooligans?

Now he wants immunity from war crimes prosecution

Simply put, is there any difference between the ex Iraq leader and George Bush? YES; not a lot but the last Iraq leader ran his country and did not ruin
it.

OK rant over

ERIC.

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- George Bernard Shaw to Winston Churchill.

"Cannot possibly attend first night, will attend second ... if there is one."
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post #7 of 44 (permalink) Old 10-31-2008, 05:48 AM
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They also set a record for taxes payed

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post #8 of 44 (permalink) Old 10-31-2008, 06:08 AM
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Originally Posted by drewprof View Post
Oh yeah, circumstance you say, well guess what: There is a shortage of alkalytes (the stuff that was substituted for MTBE) for mixing at the refining process for the summer blend. Why in the hell is there such shortage in a world where computer modeling runs supreme? It's simple, it's planned to make sure we end up paying inflated prices at the pump for the "limited" quantities of refined gasoline. The bottom line we are the victims taken to the slaughter house while they get away with it because of an oopsie. Plan on $4.00 a gallon by the summer folks, it's just the way it is and you can't do a damned thing about it. Remember that pushing prices to this level also serves as priming for your poor minds to accept even higher prices. It's simple psychology you dumb dumbs, cough it up and take it up the arse with no lube... Oh lube is a petroleum product too
Oh I don't know, maybe you should ask the Chinese and the Indians. I keep telling you guys, we are not in the driver's seat when it comes to demand anymore.

It really isn't any conspiracy. Just weak minded individuals who want it to be a conspiracy.

Who's John Galt.

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post #9 of 44 (permalink) Old 10-31-2008, 06:58 AM
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Originally Posted by TNTRower View Post
Oh I don't know, maybe you should ask the Chinese and the Indians. I keep telling you guys, we are not in the driver's seat when it comes to demand anymore.

It really isn't any conspiracy. Just weak minded individuals who want it to be a conspiracy.
Why don't you spend 30 seconds on Google before you spout off like that?

NationMaster - Oil > Consumption (most recent) by country

#1 United States: 20,730,000 bbl/day
#2 China: 6,534,000 bbl/day
#3 Japan: 5,578,000 bbl/day
#4 Germany: 2,650,000 bbl/day
#5 Russia: 2,500,000 bbl/day
#6 India: 2,450,000 bbl/day
#7 Canada: 2,294,000 bbl/day
#8 Korea, South: 2,149,000 bbl/day
#9 Brazil: 2,100,000 bbl/day
#10 France: 1,970,000 bbl/day
Or perhaps you favor Wikipedia...

http://en.wikipedia.org/wiki/Petroleum#Consumption
In thousands of bbl per day
1 United States 20,588
2 China 7,274
3 Japan 5,222
4 Russia 3,103
5 Germany 2,630
6 India 2,534
7 Canada 2,218
8 Brazil 347
9 South Korea 2,157
10 Saudi Arabia (OPEC) 329
Lemme help you out. Our demand for oil is over TWICE that of China and India, COMBINED.

Last edited by Qubes; 10-31-2008 at 07:03 AM.
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post #10 of 44 (permalink) Old 10-31-2008, 05:44 PM Thread Starter
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^^^

Wow. Because if you do the math, the disparity on a per-capita basis is really blinding. Wow.
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