BUSINESS: Exxon/Mobile reports Record Profits for Third Quarter Earnings

I'm sorry, but I think lysergic hit the nail on the head with his post comparing the Exxon guy to Jabba the Hut.

Could there be a worse bit of PR for the oil companies than to have a picture of that gross looking fat guy smirking at all of us while he collects record profits from all of us?

Well, the war in Iraq certainsly was a boon to the oil industry. The public perception at least, allowed the oil industry to post record profits. ...But I don't quite get how all the pieces fit together. Can anyone here enlighten me?

our gas by the litre dropped by like 0.20c in one day! wtf is going on?

I agree with Grady's comment. The total dollar amount of profits is not as important to me as the profit margin. I can't help but feel that prices jump up very fast, but come down slower. Somehow, the Oil companies are reaping excess profits at my expense and I don't like it. I can see that profit margins are staying within their historical range, but the volume is so large now that hundreds of millions of excess profits can be brought in without changing the overall profit margin more than a few tenths of a percent.

Well here in our area gas has went back up and a gallon of kerosene costs close to 4.00.

Grady not everyone lives in a city, we live in the country, it takes thirty minutes to drive to the store and 45 minutes to drive to work. As we are not kids with places to go, we pretty much due our own lifestyle quit going anywheres except for the essentials a long time ago.

I would like to see some evidence that the profit margin did not change.

I know what is was for the second quarter. You can find that here, but I have yet to see evidence of what it is for the 3rd quarter.

Originally posted by dave_54

Very true. I wish more people would actually bother to learn something about business before opening their ignorant mouths. $9.92 billion profit on $100.7 billion in revenues is only 9.8% profit -- less than the S&P 500 average of 12.7% and way less than the banking industry average of 20+%. In others words, the oil industry is LESS PROFITABLE than other businesses. Doesn't anyone here know how to read a financial report? Or has everyone just surrendered their ability to think to the mainstream media?

The 20+% you mention for the banking industry average is an annual average, whereas the $9 billion mentioned in the opening post was a quarterly profit, no?

Originally posted by centurion1211
Could there be a worse bit of PR for the oil companies than to have a picture of that gross looking fat guy smirking at all of us while he collects record profits from all of us?

The guy actually looks like a former boxer who couldn't keep his right up...




But he ain't starving...

Cash Compensation (FY December 2004)
Salary $3,600,000

Bonus $3,920,500

O
T
H
E
R Latest FY other short-term comp. $179,382

Latest FY other long-term comp. $28,216,500

Latest FY long-term incentive payout $2,160,000
Total $38,076,382


Stock Options (FY December 2004)
Number of options Market value
exercised 1,793,392 $43,649,925

unexercised 4,850,000 $65,077,965

unexercisable 0





[edit on 1-11-2005 by jsobecky]

Anyone wanna take bets on what natural disaster, war episode encounter or other event that will cause the price to skyrocket again sveral days or a week prior to the Thanksgiving Holiday (some of the busiest travel days of the year)?

Phae

Theres just no justification for the huge difference of income here in America anymore, no doubt the NWO is kicking in on us, I mean roughly 80% of the population in this country makes 20 to 100 grand a year that's nothing if you compare that to the numbers fat guys like him get on their paychecks. I mean its worse than comparing my weekly income of 700 to the 10 dollars a week allowance I give to my kid.

Ridiculous!
Ridiculous indeed.