A Mad Mulligan
Posts: 2,858 
Videos: 4
Location: The Moonsine Cafe
Videos: 4
Location: The Moonsine Cafe
February 1st, 2008, 09:02 AM
I know some were a little worried about them, but it's alright. oink oink
THE ASSOCIATED PRESS
HOUSTON – Exxon Mobil Corp. today posted the largest annual profit by a U.S. company — US$40.6 billion — as the world’s largest publicly traded oil company benefited from historic crude prices at year’s end.
Exxon also set a U.S. record for the biggest quarterly profit, posting net income of $11.7 billion for the final three months of 2007, besting its own mark of $10.71 billion in the fourth quarter of 2005.
The previous record for annual profit was $39.5 billion, which Exxon Mobil reported for 2006.
The eye-popping results weren’t a surprise given record prices for a barrel of oil at the end of 2007. For much of the fourth quarter, they hovered around $90 a barrel, more than 50 per cent higher than a year ago.
In fact, Chevron, the second-largest U.S. oil company, also posted near-record profits today.
Crude oil prices reached an all-time trading high of $100.09 a barrel on Jan. 3 but have fallen about 10 per cent since.
The Exxon Mobil record profit for the October-December period amounted to $2.13 a share versus $1.76 a share in 2006. Year-ago net income was $10.25 billion.
Also extraordinary was Exxon Mobil’s revenue, which rose 30 per cent in the fourth quarter to $116.6 billion from $90 billion a year ago.
For the year, sales rose to $404.5 billion — the most ever for the Irving, Tex.-based company — from the $377.64 billion it posted in 2006.
In a statement, Exxon Mobil chairman Rex Tillerson said the company continued to meet the world’s energy needs through its ``globally diverse resource base.”
“Our long-term investment program, in projects often far from major consuming nations, continued to provide resources essential to the increasingly interdependent global energy supply network,” Tillerson said.
Exxon Mobil produces about three per cent of the world’s oil.
Its shares rose $1.45, or 1.7 per cent, to $87.85 in premarket trading.
Meantime, Chevron Corp. said today its profit rose 29.2 per cent in the fourth quarter, beating expectations, as surging prices for crude oil offset weak results from its refining business.
The oil company posted earnings of US$4.88 billion, or $2.32 per share, from $3.77 billion, or $1.74 per share, a year earlier. Revenue rose 29 per cent to $61.41 billion from $47.75 billion.
Analysts polled by Thomson Financial expected a profit of $2.26 per share, on average.
Profits from Chevron’s upstream division — which includes exploration and production of oil and gas — rose 66 per cent. However, downstream operations, which includes refining marketing and transportation of energy products, fell 79 per cent. Its chemical operations also posted a profit decline.
Chief executive Dave O’Reilly said the “significant increase in the price of crude oil” was responsible for the gains, though downstream profits were “off sharply.”
As crude prices touched new highs in the fourth quarter, refiners were hurt by those surging costs as well as weaker demand for refined products like gasoline. Unplanned maintenance operations also hurt downstream results. Chevron shares rose $1.75, or 2.1 per cent, to $85 in premarket trading.
I know some were a little worried about them, but it's alright. oink oink
THE ASSOCIATED PRESS
HOUSTON – Exxon Mobil Corp. today posted the largest annual profit by a U.S. company — US$40.6 billion — as the world’s largest publicly traded oil company benefited from historic crude prices at year’s end.
Exxon also set a U.S. record for the biggest quarterly profit, posting net income of $11.7 billion for the final three months of 2007, besting its own mark of $10.71 billion in the fourth quarter of 2005.
The previous record for annual profit was $39.5 billion, which Exxon Mobil reported for 2006.
The eye-popping results weren’t a surprise given record prices for a barrel of oil at the end of 2007. For much of the fourth quarter, they hovered around $90 a barrel, more than 50 per cent higher than a year ago.
In fact, Chevron, the second-largest U.S. oil company, also posted near-record profits today.
Crude oil prices reached an all-time trading high of $100.09 a barrel on Jan. 3 but have fallen about 10 per cent since.
The Exxon Mobil record profit for the October-December period amounted to $2.13 a share versus $1.76 a share in 2006. Year-ago net income was $10.25 billion.
Also extraordinary was Exxon Mobil’s revenue, which rose 30 per cent in the fourth quarter to $116.6 billion from $90 billion a year ago.
For the year, sales rose to $404.5 billion — the most ever for the Irving, Tex.-based company — from the $377.64 billion it posted in 2006.
In a statement, Exxon Mobil chairman Rex Tillerson said the company continued to meet the world’s energy needs through its ``globally diverse resource base.”
“Our long-term investment program, in projects often far from major consuming nations, continued to provide resources essential to the increasingly interdependent global energy supply network,” Tillerson said.
Exxon Mobil produces about three per cent of the world’s oil.
Its shares rose $1.45, or 1.7 per cent, to $87.85 in premarket trading.
Meantime, Chevron Corp. said today its profit rose 29.2 per cent in the fourth quarter, beating expectations, as surging prices for crude oil offset weak results from its refining business.
The oil company posted earnings of US$4.88 billion, or $2.32 per share, from $3.77 billion, or $1.74 per share, a year earlier. Revenue rose 29 per cent to $61.41 billion from $47.75 billion.
Analysts polled by Thomson Financial expected a profit of $2.26 per share, on average.
Profits from Chevron’s upstream division — which includes exploration and production of oil and gas — rose 66 per cent. However, downstream operations, which includes refining marketing and transportation of energy products, fell 79 per cent. Its chemical operations also posted a profit decline.
Chief executive Dave O’Reilly said the “significant increase in the price of crude oil” was responsible for the gains, though downstream profits were “off sharply.”
As crude prices touched new highs in the fourth quarter, refiners were hurt by those surging costs as well as weaker demand for refined products like gasoline. Unplanned maintenance operations also hurt downstream results. Chevron shares rose $1.75, or 2.1 per cent, to $85 in premarket trading.
February 1st, 2008, 10:32 AM
It's bull. No oil company ever seems to take the hit on themselves. They pressure the smaller companies below them (all the way from the big guys like Halliburton and Baker Hughes right down to mom and pop operations) to narrow their profit margins instead, so that it makes up for the difference in whatever the gov or the market threw their way.
It's bull. No oil company ever seems to take the hit on themselves. They pressure the smaller companies below them (all the way from the big guys like Halliburton and Baker Hughes right down to mom and pop operations) to narrow their profit margins instead, so that it makes up for the difference in whatever the gov or the market threw their way.
The Angry Beaver
Posts: 3,543
Location: Atlantic Canada
Location: Atlantic Canada
February 1st, 2008, 01:34 PM
Yeah... I love how they complain that there's a shortage, that it's all drying up, that it's harder to get profit anymore, which is why they needed to increase the costs.
Yet, this comes out and they make a record profit?
*slaps cheek*
Gee, I wonder why?
Hmmmm.. oh well.... they didn't get much of my money. No car and the heats included with my apartment, so meh.
Yeah... I love how they complain that there's a shortage, that it's all drying up, that it's harder to get profit anymore, which is why they needed to increase the costs.
Yet, this comes out and they make a record profit?
*slaps cheek*
Gee, I wonder why?
Hmmmm.. oh well.... they didn't get much of my money. No car and the heats included with my apartment, so meh.
Member
Posts: 115
Location: Living in Lymington (the new forest) in the south of the U.K.
Location: Living in Lymington (the new forest) in the south of the U.K.
February 1st, 2008, 02:01 PM
I feel real sorry that their profits are not higher (don't you believe it) for it's us clowns the end user that is forevermore stuffing their pockets. EXOON SUGGESTION:- well we got enough out of the mugs with the shortage of oil. Let' try telling them the sky ain't blue enough.
I feel real sorry that their profits are not higher (don't you believe it) for it's us clowns the end user that is forevermore stuffing their pockets. EXOON SUGGESTION:- well we got enough out of the mugs with the shortage of oil. Let' try telling them the sky ain't blue enough.
The Angry Beaver
Posts: 3,543
Location: Atlantic Canada
Location: Atlantic Canada
February 1st, 2008, 03:07 PM
And I make sure I burn a lot of energy for my heating too... get my money and environment's worth out of it... he he
Quoting karrie
Which is why I said they didn't get much
If the heat is included in your rent, then, your rent is higher, to pay for the heat, so they did indeed get some of your money. But, that's natural gas.... much cheaper and more plentiful than the oil required to make gasoline.
And I make sure I burn a lot of energy for my heating too... get my money and environment's worth out of it... he he
Hawkings former plumber
Posts: 9,094
Videos: 1
Location: RR1 Distopia 666 Discordia Drive Apt 911
Videos: 1
Location: RR1 Distopia 666 Discordia Drive Apt 911
February 1st, 2008, 03:07 PM
A good reason to explore nationalization of resources. Just tazer and arrest the whole lot of them and sieze the assets. Chavez has the right idea. Capitalist pigs must die, in prison, slowly.
A good reason to explore nationalization of resources. Just tazer and arrest the whole lot of them and sieze the assets. Chavez has the right idea. Capitalist pigs must die, in prison, slowly.
Council Member
Posts: 1,359
Location: BC
Location: BC
February 1st, 2008, 03:27 PM
Nationalizing resources is just another way of delivering our resources into the hands of crooks.
I would like to see the people get a fair market share of profits from our resources. The best way I believe to do this would to demand that every Canadian be given shares in a company that exploits these resources and that dividends be paid. We should receive at least 50% of the company and profits. The elite can squabble over the rest. This would allow us to have zero tax on these industries which, in turn, would increase their profitability on the world stage and translate into real value for each and every Canadian.
Just a thought.
Quoting darkbeaver
I agree to a certain extent. The resources of Canada belong to us. Government and industry would have us believe otherwise but the reality is that we are being robed blind.
A good reason to explore nationalization of resources. Just tazer and arrest the whole lot of them and sieze the assets. Chavez has the right idea. Capitalist pigs must die, in prison, slowly.
Nationalizing resources is just another way of delivering our resources into the hands of crooks.
I would like to see the people get a fair market share of profits from our resources. The best way I believe to do this would to demand that every Canadian be given shares in a company that exploits these resources and that dividends be paid. We should receive at least 50% of the company and profits. The elite can squabble over the rest. This would allow us to have zero tax on these industries which, in turn, would increase their profitability on the world stage and translate into real value for each and every Canadian.
Just a thought.
A Mad Mulligan
Posts: 2,858
Videos: 4
Location: The Moonsine Cafe
Videos: 4
Location: The Moonsine Cafe
February 1st, 2008, 04:52 PM
I hate it when people edit my threads. I choose words for a reason. It's fine that you don't agree with my choice of words but I dislike people changing it to what they want instead. I would rather you just delete the whole thread and start your own.
/rant
I hate it when people edit my threads. I choose words for a reason. It's fine that you don't agree with my choice of words but I dislike people changing it to what they want instead. I would rather you just delete the whole thread and start your own.
/rant
February 1st, 2008, 06:28 PM
Quoting Unforgiven
That is dissapointing news. I hope they can squeeze more profits out next quarter.
I know some were a little worried about them, but it's alright. oink oink
THE ASSOCIATED PRESS
HOUSTON – Exxon Mobil Corp. today posted the largest annual profit by a U.S. company — US$40.6 billion — as the world’s largest publicly traded oil company benefited from historic crude prices at year’s end.
Exxon also set a U.S. record for the biggest quarterly profit, posting net income of $11.7 billion for the final three months of 2007, besting its own mark of $10.71 billion in the fourth quarter of 2005.
The previous record for annual profit was $39.5 billion, which Exxon Mobil reported for 2006.
The eye-popping results weren’t a surprise given record prices for a barrel of oil at the end of 2007. For much of the fourth quarter, they hovered around $90 a barrel, more than 50 per cent higher than a year ago.
In fact, Chevron, the second-largest U.S. oil company, also posted near-record profits today.
Crude oil prices reached an all-time trading high of $100.09 a barrel on Jan. 3 but have fallen about 10 per cent since.
The Exxon Mobil record profit for the October-December period amounted to $2.13 a share versus $1.76 a share in 2006. Year-ago net income was $10.25 billion.
Also extraordinary was Exxon Mobil’s revenue, which rose 30 per cent in the fourth quarter to $116.6 billion from $90 billion a year ago.
For the year, sales rose to $404.5 billion — the most ever for the Irving, Tex.-based company — from the $377.64 billion it posted in 2006.
In a statement, Exxon Mobil chairman Rex Tillerson said the company continued to meet the world’s energy needs through its ``globally diverse resource base.”
“Our long-term investment program, in projects often far from major consuming nations, continued to provide resources essential to the increasingly interdependent global energy supply network,” Tillerson said.
Exxon Mobil produces about three per cent of the world’s oil.
Its shares rose $1.45, or 1.7 per cent, to $87.85 in premarket trading.
Meantime, Chevron Corp. said today its profit rose 29.2 per cent in the fourth quarter, beating expectations, as surging prices for crude oil offset weak results from its refining business.
The oil company posted earnings of US$4.88 billion, or $2.32 per share, from $3.77 billion, or $1.74 per share, a year earlier. Revenue rose 29 per cent to $61.41 billion from $47.75 billion.
Analysts polled by Thomson Financial expected a profit of $2.26 per share, on average.
Profits from Chevron’s upstream division — which includes exploration and production of oil and gas — rose 66 per cent. However, downstream operations, which includes refining marketing and transportation of energy products, fell 79 per cent. Its chemical operations also posted a profit decline.
Chief executive Dave O’Reilly said the “significant increase in the price of crude oil” was responsible for the gains, though downstream profits were “off sharply.”
As crude prices touched new highs in the fourth quarter, refiners were hurt by those surging costs as well as weaker demand for refined products like gasoline. Unplanned maintenance operations also hurt downstream results. Chevron shares rose $1.75, or 2.1 per cent, to $85 in premarket trading.
THE ASSOCIATED PRESS
HOUSTON – Exxon Mobil Corp. today posted the largest annual profit by a U.S. company — US$40.6 billion — as the world’s largest publicly traded oil company benefited from historic crude prices at year’s end.
Exxon also set a U.S. record for the biggest quarterly profit, posting net income of $11.7 billion for the final three months of 2007, besting its own mark of $10.71 billion in the fourth quarter of 2005.
The previous record for annual profit was $39.5 billion, which Exxon Mobil reported for 2006.
The eye-popping results weren’t a surprise given record prices for a barrel of oil at the end of 2007. For much of the fourth quarter, they hovered around $90 a barrel, more than 50 per cent higher than a year ago.
In fact, Chevron, the second-largest U.S. oil company, also posted near-record profits today.
Crude oil prices reached an all-time trading high of $100.09 a barrel on Jan. 3 but have fallen about 10 per cent since.
The Exxon Mobil record profit for the October-December period amounted to $2.13 a share versus $1.76 a share in 2006. Year-ago net income was $10.25 billion.
Also extraordinary was Exxon Mobil’s revenue, which rose 30 per cent in the fourth quarter to $116.6 billion from $90 billion a year ago.
For the year, sales rose to $404.5 billion — the most ever for the Irving, Tex.-based company — from the $377.64 billion it posted in 2006.
In a statement, Exxon Mobil chairman Rex Tillerson said the company continued to meet the world’s energy needs through its ``globally diverse resource base.”
“Our long-term investment program, in projects often far from major consuming nations, continued to provide resources essential to the increasingly interdependent global energy supply network,” Tillerson said.
Exxon Mobil produces about three per cent of the world’s oil.
Its shares rose $1.45, or 1.7 per cent, to $87.85 in premarket trading.
Meantime, Chevron Corp. said today its profit rose 29.2 per cent in the fourth quarter, beating expectations, as surging prices for crude oil offset weak results from its refining business.
The oil company posted earnings of US$4.88 billion, or $2.32 per share, from $3.77 billion, or $1.74 per share, a year earlier. Revenue rose 29 per cent to $61.41 billion from $47.75 billion.
Analysts polled by Thomson Financial expected a profit of $2.26 per share, on average.
Profits from Chevron’s upstream division — which includes exploration and production of oil and gas — rose 66 per cent. However, downstream operations, which includes refining marketing and transportation of energy products, fell 79 per cent. Its chemical operations also posted a profit decline.
Chief executive Dave O’Reilly said the “significant increase in the price of crude oil” was responsible for the gains, though downstream profits were “off sharply.”
As crude prices touched new highs in the fourth quarter, refiners were hurt by those surging costs as well as weaker demand for refined products like gasoline. Unplanned maintenance operations also hurt downstream results. Chevron shares rose $1.75, or 2.1 per cent, to $85 in premarket trading.
Electoral Member
Posts: 334
Location: California
Location: California
February 2nd, 2008, 03:15 AM
The oil company profits aren't anything new to the world economy. What is new is the attempts of the consolidated giants to squeeze more out of the consumer and the regualtory agencies just sit by and watch. The involvement of the White House and the Congress to "Check into the allegations" is in itself another "Fox Guarding The Henhouse" situation. Which entity commands more attention than the oil industry? None other than the arms merchants who are present at the beckon call of the oil industry who keeps them propped up. What happens when the US economy starts to grind to a halt? Look at history. We will be instituting another war soon and both oil and arms are the biggest recipients of the billions of dollars need to support the new war. Big oil conglomerates own and control the US and those who are elected to do the business of the people..
The oil company profits aren't anything new to the world economy. What is new is the attempts of the consolidated giants to squeeze more out of the consumer and the regualtory agencies just sit by and watch. The involvement of the White House and the Congress to "Check into the allegations" is in itself another "Fox Guarding The Henhouse" situation. Which entity commands more attention than the oil industry? None other than the arms merchants who are present at the beckon call of the oil industry who keeps them propped up. What happens when the US economy starts to grind to a halt? Look at history. We will be instituting another war soon and both oil and arms are the biggest recipients of the billions of dollars need to support the new war. Big oil conglomerates own and control the US and those who are elected to do the business of the people..
