In case anyone missed it, today, the highest ever quarterly profit for a U.S. Company was broken. New record:$11.68B for the most recent quarter. The same 1/4 last yr they only made $10.26B. Any guesses on who the co. is?!

Hint:The old record was $11.66B set in the last 1/4 of '07. They are the world's largest publicly traded co.

Exxon!!!Apparently, investors didn't think that was good enuff either!!!


More good news.Shell profits gushed; they made $11.556B. Attacks in Nigeria cost them 185K barrels of output for 1st 3 wks. in July.

Oh. Just when prices were headed down, I guess all this profit B.S. encouraged them to go for the greed. It went up, I noticed tonite after work! I'm done ranting now.

 

Please take an economics course and you will understand the difference between a profit and profit margin.

 

think its all pocketed?? Not. drilling on land costs millions, drilling in the sea costs billions

 

We should all poll to put them out of business and in turn put thousands of hard working Americans out of jobs. Yea, that's it! We'll become economic cannibals.

 

id be out of a job along with the rest of my family and our 40 year family business with go under

 

Its funny. Most americans do not realize the government makes more money off of gas than the oil companies do. The oil cos take all the risk. They find, drill, refine and get it to the consumer, yet they are demonized by the govt. and media. The government has no risk and still reap the profits from gas sales. At the same time Uncle Sam has rediculous(Sp) rules that the oil producers have to follow. Many of these same laws are some of the major causes of the high cost of gas at the pump today.

 

This thread is almost as bad as blaming Habib at the local Quickie Mart and wondering why local gas stations don't just lower their prices.

(Sorry for the stereotypical reference, it was merely to paint a picture).

 

say a company has been losing production and are at a loss they are taxed 7% loss or gain

 

Bingo. Back when oil was under $50/barrel the oil cos were losing money (this happened for several years), yet the govt. still made money from the sale of gas. Billions of dollars per year.

 

it's the speculators and traders....shoot them all, deal direct!