Exxon

**CyGuy33** · 07-31-2008, 08:21 AM

Exxon sets U.S. mark for quarterly profit - Jul. 31, 2008

And they state that the high gas prices aren't making them any money.

**Knownothing** · 07-31-2008, 08:28 AM

Why do people blame the oil company's. How about blaming our Government on this one. The government has a 15% tax on gas. They do nothing to deserve it. NOTHING. The oil companies are making about a 4% profit right now. They prospect the oil. They explore for oil. They bring it out of the ground and transport the oil. Then they refine the oil. They have hundreds of thousands of employee's who make money. yeah it's not just a few rich guys sitting around making money. Oil company's have people working for them and making great livings.

They would bring the price down if the goverment would let them drill in Alsaska and off the coasts but our stupid as heck gov. won't let them.

So who's fault is it. The oil company's or our gov. with all there fake regulations.

P.S. I hope China enjoy's drilling 50 miles off our coast. You know the same place we don't allow our oil company's to drill.

**DaddyMac** · 07-31-2008, 08:30 AM

Originally Posted by Knownothing

Why do people blame the oil company's. How about blaming our Government on this one. The government has a 15% tax on gas. They do nothing to deserve it. NOTHING. The oil companies are making about a 4% profit right now. They prospect the oil. They explore for oil. They bring it out of the ground and transport the oil. Then they refine the oil. They have hundreds of thousands of employee's who make money. yeah it's not just a few rich guys sitting around making money. Oil company's have people working for them and making great livings.

They would bring the price down if the goverment would let them drill in Alsaska and off the coasts but our stupid as heck gov. won't let them.

So who's fault is it. The oil company's or our gov. with all there fake regulations.

P.S. I hope China enjoy's drilling 50 miles off our coast. You know the same place we don't allow our oil company's to drill.

I don't know - I kind of enjoy roads.

**cytech** · 07-31-2008, 08:33 AM

Yeah going to have to say that the fuel tax is on tax I agree with.

**jumbopackage** · 07-31-2008, 08:33 AM

Let's see. Quarterly profits of 11.68 billion on revenue of 138 billion. That works out to about an %8.4 profit. Hardly excessive, and actually below expectations.

**CYdTracked** · 07-31-2008, 08:36 AM

Name me 1 person/company that didn't get rich off oil... If it wasn't a lucrative business then you'd be hearing about oil companies folding just like banks do.

**jbhtexas** · 07-31-2008, 08:37 AM

Originally Posted by Knownothing

Why do people blame the oil company's. How about blaming our Government on this one. The government has a 15% tax on gas. They do nothing to deserve it. NOTHING.

I like roads too...

Originally Posted by Knownothing

The oil companies are making about a 4% profit right now.[...]

They would bring the price down if the goverment would let them drill in Alsaska and off the coasts but our stupid as heck gov. won't let them.

If, as you suggest, the oil companies' profits are too low, why on Earth would they drill in Alaska for more oil and drive the price down, even further shrinking their profits? As the article said, Exxon made the majority of their profits from selling crude. Why would they do something to drive crude prices down?

**Cyclonepride** · 07-31-2008, 08:39 AM

Profit margins can stay the same, and profits can go up quite a bit as there is more profit the higher the input cost. And the obstructionists to drilling are as much to blame as anyone else for that.

**Knownothing** · 07-31-2008, 08:40 AM

I don't know - I kind of enjoy roads.

Really what do all of your other taxes go for. It's cute that people thing taxes go for what they were intended to go for.

If gas tax went to roads then why is there such a huge shortfall when they are trying to repair bridges right now. Where is the money. THey make 15% tax on gas. Where is the money going.

Also have you drove in Iowa Lately. It's a nightmare on my car. Now I know we live in Iowa and it snow's but if they are making so much money on gas then where is the money going? Not roads and bridges.

**Phaedrus** · 07-31-2008, 08:41 AM

Originally Posted by travman23

Name me 1 person/company that didn't get rich off oil... If it wasn't a lucrative business then you'd be hearing about oil companies folding just like banks do.

Actually, a large number of oil companies folded back in the '80s. I'm talking a TON of people lost everything they owned in that oil market.

I remember driving down south and seeing all the lots parked full of idle oil equipment.

**DaddyMac** · 07-31-2008, 08:44 AM

Originally Posted by Knownothing

Really what do all of your other taxes go for. It's cute that people thing taxes go for what they were intended to go for.

If gas tax went to roads then why is there such a huge shortfall when they are trying to repair bridges right now. Where is the money. THey make 15% tax on gas. Where is the money going.

Also have you drove in Iowa Lately. It's a nightmare on my car. Now I know we live in Iowa and it snow's but if they are making so much money on gas then where is the money going? Not roads and bridges.

Yes I have. I've also somewhat recently driven in Ill, Wisconsin, MN and not all that long ago Neb and Missouri.

I'll take Iowa roads any day of the week.

What do my other taxes go for? Schools, civic programs, street lights, police, fire dept and the like. Oh, and the ever present 60% that goes to defense (not complaining Phaedrus - just wish the DOD would be a little more fiscally responsible sometimes)

**cytech** · 07-31-2008, 08:44 AM

gas tax income $37 billion
Motor Fuel Tax Revenue

Proposed 2008 US department of transportation budget $67 Billion
Bush Administration’s U.S. Department of Transportation Budget Request of $67 Billion to Finance Vital Construction, Congestion and Safety Programs, Provide Framework for Reforming Aviation System for Fiscal Year 2008

It almost seems to me like the gas tax should be raised a bit, and also cut spending from the DOT at the same time.

**CyGuy33** · 07-31-2008, 08:45 AM

Originally Posted by Knownothing

Really what do all of your other taxes go for. It's cute that people thing taxes go for what they were intended to go for.

If gas tax went to roads then why is there such a huge shortfall when they are trying to repair bridges right now. Where is the money. THey make 15% tax on gas. Where is the money going.

Also have you drove in Iowa Lately. It's a nightmare on my car. Now I know we live in Iowa and it snow's but if they are making so much money on gas then where is the money going? Not roads and bridges.

With the high prices of gas right now people are driving less, generating less Tax dollars, which leads to the shortage you are speaking of.

**cmoneyr** · 07-31-2008, 08:46 AM

Originally Posted by DaddyMac

Yes I have. I've also somewhat recently driven in Ill, Wisconsin, MN and not all that long ago Neb and Missouri.

I'll take Iowa roads any day of the week.

I'd definitely agree with that, it's a night and day difference when you cross the border.

**jbhtexas** · 07-31-2008, 08:46 AM

Originally Posted by Phaedrus

Actually, a large number of oil companies folded back in the '80s. I'm talking a TON of people lost everything they owned in that oil market.

I remember driving down south and seeing all the lots parked full of idle oil equipment.

Quite correct...which is why the oil producers will never, ever produce oil at a level that would drive crude prices anywhere near those 1980's levels that put a bunch of them out of business. Also, given the present demand, I'm not sure it would be physically possible to produce enough oil to drive prices down to those 1980's levels.

Stockholders are looking for ROI. Oil producers are responsible for making as much ROI for their investors as they can. If drilling more will improve ROI, it will be done. If drilling more will hurt profits, it won't be done. The inconvenience for consumers of high gas and diesel prices is not the primary driver here...