Exxon Mobil posts largest quarterly profit ever

Gain of $9.92 billion is the largest

http://www.msnbc.msn.com/id/9837574/

Somebody tell me again why gas prices have skyrocketed?

Don’t worry phoo… the oil companies are gonna send us all a big, fat rebate check!

Yeah right…

TG

I understand that oil companies need to a make a profit. What I don’t understand is why if crude goes up, they make a LOT more profits? Why aren’t there profits linear to the price of crude?

Eh, I researched this a while back… I’ll see if I can find some links when I find the time. Personally, I got the feeling the author of one article was saying without saying it (knowhattamean?) that despite all the accusations/threats from the gov’t about price gouging, the oil companies have a license to steal. They have it, we need it. The problem with high pump prices is NOT crude availability, it is US refinery capacity. Due to environmental issues, there has not been a new refinery built in the US since the 70’s.

When something happens to upset the system (Katrina, Rita, Wilma etc) they raise prices in an attempt to curtail sales until they get the systems back online. Supply and demand. Simple. Sort of. Figure in greed too.

So high gas prices can be blamed squarely on them darn tree-huggers! :D

TG

Understood but gas prices went up way before the natural disasters.

Our prices have actually gone down since before Katrina. Can’t blame it all on the hurricanes.

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Both Exxon and Shell said their performances were buoyed by higher crude-oil and natural-gas prices

So why do higher crude prices allow them to stick it to us?

Eyup!

You should applaud your capitalist corporations for safeguarding your money by accumulating an even greater share of it.

So there!

Steve

Quote (Mr Soul @ Oct. 27 2005,13:34)
Both Exxon and Shell said their performances were buoyed by higher crude-oil and natural-gas prices

So why do higer crudge prices allow them to stick it to us?
pretty simple, actually...

"We are capturing the benefits of high oil and gas prices and refining margins,'' Shell Chief Financial Officer Peter Voser said, referring to the profit margin on each barrel of crude that is refined into gasoline, diesel and jet fuel.

Which is, by the way, geeky accountant talk for “We raised prices to fatten our gal-darn wallets boy!” Crude went up and gave 'em something to blame their increases on. Which, as Soul-dude noticed, is NOT a linear relationship.

TG

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We are capturing the benefits of high oil and gas prices and refining margins,’

Thanks Clark - I can always count on you for a sensible answer to everything :laugh:

it’s why I stick around…

and I thought it was just for the good kharma… :)

TG

carmel? There is good carmel stashed here somewhere?

Yep, but it’s been melted down onto the apples, CARMEL APPLES YUM!:D

Kharma… carmel… oh no, I meant CAMEL! Apples covered in Camel will never do…

TG

BTW, I wonder if feeding a camel would cost less than my monthly fuel bill ???

Aren’t Camel Apples those things…umm…left on the trail?

Camel apples? Aren’t they middle east grenades?

Hmmm… might not blow you up… but I bet they’d stink you up!

"Ayee! Eet’s the Amelicans! Habib? Quick, throw me some camel apples!!!"

TG