Exxon Mobil profit soars 41%

Exxon Mobil profit soars 41%

money.cnn.com

NEW YORK (CNNMoney) -- Exxon Mobil reported quarterly earnings of $10.3 billion on Thursday, a surge of 41% from a year earlier.

Profit at the world's leading oil company soared compared to the same period a year ago, when it was $7.4 billion. Per-share income climbed to $2.13 per share from $1.44 in the prior year.

And revenue rose to $125.3 billion from $95.3 billion in the year-ago quarter, the company said.

(visit the link for the full news article)

So, 41% increase in profit, yet they still need us tax payers to subsidize them or " How's a brother gonna eat" is what Exxon and those silly people ( in an attempt to follow the T&C) from other big oil are saying.

10.3 BILLION in profit, profit folks, not just revenue.

How is this justified in this day and age? Want something to protest over, protest your money going into the greedy hands of these companies.

And they also have the gull to tell us it's because of higher prices that they made all this money. Yet the people who decide the price of things are ex oil executives and other politicians with deep ties to big oil.

Sickening.

~Keeper

money.cnn.com
(visit the link for the full news article)

people im sick of it
i have to do something
im starting the 'help exxon' charity
please donate some money for the poor poor people at exxon who are struggling in these uncertain times. even one dollar can make a difference.

It is sick and oil is at 92.40 a barrell. and there is no shortage other than cash for the people that have to buy it.
s/f op thx

reply to post by tothetenthpower


It most be nice to have paid speculators in the markets to drive the prices up and make profits.

US oil companies speculators are the drives of the oil prices in the markets, but you don't see anything done in congress to stop this practices.

reply to post by tothetenthpower


There is no justification other than the raison d'etre of the corporate business model. MORE for "us".

We hear the talking heads on the zombie media telling us that, "yes - the market is in difficulties" and the "economy" is in peril.... yet corporate citizens owend by the Energy cartel continue to increase their profit margins, exacerbating the problems the actual mortal citizens face everyday..... and the political machinery supports them without question, without hesitation, and without remorse.... Why? .... because they profit too..... and they needn't worry about 'getting to work' or scraping up enough money have the means to actually move from point A to point B.

There are loads of free energy sources. People are living comfortably and driving around without paying energy companies a dime. I often read, "Free renewable energy is a noble idea, but it's not practical." That is a lie. I also read, "Free energy won't support my lifestyle." Those must be some outrageous energy demands. However, if your lifestyle is threatening the planet, wouldn't it be a good idea to modify it?

[color=dodgerblue]And all at the expense of the American People.

Way to go, Exxon.

[color=deepskyblue]I read somewhere, might have even been on ATS, about the rise in gas prices in the last ten years compared to the last twenty and the percentage was insane like in the neighborhood of 800 percent.

I don't understand why they are allowed to continue. If gas prices would come down, the price of groceries would come down, spending in other areas would go up, people would travel more, etc.

reply to post by daryllyn

actually most of the expense goes to 3rd world nations, where exxon comes in and rapes their environment and plauges people with disease and future famine due to collapsing ecosystems.. the list goes on

Originally posted by ShortMemory
reply to post by daryllyn

 

actually most of the expense goes to 3rd world nations, where exxon comes in and rapes their environment and plauges people with disease and future famine due to collapsing ecosystems.. the list goes on

[color=dodgerblue]Everyone I know is suffering due to gas prices. It costs us about $120 per week and that is just for the basics. School, work, kids, errands.

I wish I could find the source for that article I read recently..

*off to dig*

reply to post by daryllyn
true, everyone bar no one has a reason to hate these resource giants.
off with their heads i say

Originally posted by ShortMemory
reply to post by daryllyn

 

actually most of the expense goes to 3rd world nations, where exxon comes in and rapes their environment and plauges people with disease and future famine due to collapsing ecosystems.. the list goes on

This is an important point, and it's not just third world countries its here in North America as well (look at Louisiana, and parts of Canada as examples). True damage comes from things like the gulf hole (it's not a spill it’s a major leak), Amazonian rainforest destruction (due to drilling and deforestation) and wars fought (both physically and economically) for resources (look to Iraq, Libya as most recent examples). Externalization is something everyone pays for eventually because we are all on the same rock and even if you live in a house and you dump your garbage out into your garden eventually it will pile up to the point the smell will reach your nostrils.

reply to post by daryllyn


FYI For every penny, ( 1 cent ) that the price rises , it cost the country 1 billion annually..

Have you ever noticed that even a rumor of the possibility of the price of crude going up (i.e.- hurricane,political uprisings,...uh, routine maintanence..) that you see it at the pumps immediately? BUT.. if the price per barrel drops, it'll take weeks to see it at the pumps and even if the barrel price drops below what it was before this said rumor, it never drops lower at the pumps.

Go figure.

The speculators / conspiracy theorists for oil have a better chance of change than we do . Wth is up with that , oh yeah were crazy and they are not .

This poses a dilemma for me. We have a local Exxon station that does all the mechanical work on our cars. They do good work at cheap prices (about half what the dealership charges).
I will stop buying gas there though and would suggest that everyone boycott buying gas from Exxon until they drop prices to a reasonable level.
NO need to wonder why the economy is tanking.

reply to post by tothetenthpower


Yes your right and that the fact CNN is qutie cheerful of the news that the Exxon Mobil profit soars at 41%
CNN hates The Poor.

Originally posted by Asktheanimals
This poses a dilemma for me. We have a local Exxon station that does all the mechanical work on our cars.

You could work on your car yourself. Make sure that before you buy a car, it's not a pain to work on. There's the conspiracy theory that this is done to increase dealership repairs.However, if a person takes a car to a dealership rather than the local greasemonkey, that person probably has no intention of ever looking under the hood.

and just think,

all that profit ends up in their investment holdnig tanks.

all that wealth exploited from local resources all over the world.

never to be seen again by the locals.

and it's legal, with a dozen roses sent

Corporate profits are at an all-time high, Wall Street is doing very nicely.

Corporate profits’ share of pie most in 60 years

As part of its regular revisions to the national income accounts, the Commerce Department told us Friday that corporate profits in 2008, 2009 and 2010 were actually $343 billion higher than earlier estimated.

And personal incomes of American families were $265 billion lower over those three years than previously estimated.

A boom in corporate profits, a bust in jobs, wages

"I've never seen labor markets this weak in 35 years of research," says Andrew Sum, director of the Center for Labor Market Studies at Northeastern University.

Wages and salaries accounted for just 1 percent of economic growth in the first 18 months after economists declared that the recession had ended in June 2009, according to Sum and other Northeastern researchers.

In the same period after the 2001 recession, wages and salaries accounted for 15 percent. They were 50 percent after the 1991-92 recession and 25 percent after the 1981-82 recession.

Corporate profits, by contrast, accounted for an unprecedented 88 percent of economic growth during those first 18 months. That's compared with 53 percent after the 2001 recession, nothing after the 1991-92 recession and 28 percent after the 1981-82 recession.

While Corporate Profits Are At 60-Year High, Main Street Businesses Continue To Struggle

Corporate profits as a share of the nation’s gross domestic product, in fact, are at their highest point since 1950. Recent snapshots, however, tell a much different story on Main Street, where small businesses are limping through an economic recovery that treated corporations much more kindly.

And it goes on and on...

This is what happens when you let your most powerful and influential corporations hijack your government - all policies and laws are then geared to reward those corporations at the expense of everything else.

This should also finally put to rest the nonsense of "trickle-down" economics, because in spite of record profits, nothing trickles down.

Now please, go back to your Tea Party protests against unions and minimum wages and social security.