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Discussion Starter · #1 ·
(XOM) Exxon recently reported their 4th quarter of 2007 earnings report.

In that report they showed a Gross Profit of $47.2 BILLION for the quarter.

Lets put that into perspective.

Lets just for the sake of arguement, say that there was 90 days in the 4th quarter.

That means that Exxon's Profit was..... are you sitting down!!

$522 MILLION each DAY in PROFIT!!

then George W. is asked about what he thinks about the soaring gas prices... And he was like HUH? High gas prices.....

Wake UP AMERICA!!
 

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Oly, I believe your info to be inaccurate. In the 4th quarter they had 47.2 billion in GROSS profit. Bottom line after corporate expenses, administrative costs, and taxes was 11.66 billion or 36 billion less than you suggest. According to their 2007 income statement, they had revenue of 404 billion with after tax earnings of $40.6 billion for year ending 2007. Still a lot of money but only a 10% profit margin and only about a fourth of what you are claiming.

http://finance.yahoo.com/q/is?s=XOM
 

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Instead of complaining about how the oil companies are screwing us, you could take steps to reduce your oil use. I spent today going over my motorcycle, making sure it's ready to roll when the weather clears. 55mpg on the bike vs. 20mpg in the truck.
 

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I really hate talking about it because it makes me so damn mad. But Viper is right as far as Exxon Mobiles' profits for the 4th quarter of 2007. One thing Viper might be forgetting to point out is that it is the single most profitable quarter any company in the history of mankind has ever enjoyed :eek: ... Without starting a massive debate on the issue, I personally believe it to be a "money grab" by the oil industry. I guess we'll now for sure after January of 2009.

OK, off my soap box now.
 

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viperman said:
Oly, I believe your info to be inaccurate. In the 4th quarter they had 47.2 billion in GROSS profit. Bottom line after corporate expenses, administrative costs, and taxes was 11.66 billion or 36 billion less than you suggest. According to their 2007 income statement, they had revenue of 404 billion with after tax earnings of $40.6 billion for year ending 2007. Still a lot of money but only a 10% profit margin and only about a fourth of what you are claiming.

http://finance.yahoo.com/q/is?s=XOM
Viperman, I would rather have 1% of $1B than 40% of $1K. I think you would as well. You don't bank percentages, you bank dollars. The one major criticism I will make of Exxon is their attempt to abdicate responsibility for the Exxon Valdez disaster.
 

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Well, I guess you know who's stock to buy.
 

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SO frustrating to hear things like this. Thats why we need to start to ween ourselves off oil.

Imagine hauling arse upriver in a brand new hydrogen fuel cell jet sled! :cool:
 

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Discussion Starter · #9 ·
Gross Profit was indeed $47.2 Billion

After Administrative costs(wonder how much of that was spent on the CEO!) the NET Income dropped to
11.66 BILLION

Translates into $129.5 MILLION /day in NET.

Still an insane amount of money, still the most ever reported by a company.

Im not complaining Im just pointing out the the facts to the common man..
Gas is a commodity that pretty much everyone in the country is forced to consume, and Exxons Balance sheet shows where all that money we spend on it is going.

fish vacuum said:
Instead of complaining about how the oil companies are screwing us, you could take steps to reduce your oil use. I spent today going over my motorcycle, making sure it's ready to roll when the weather clears. 55mpg on the bike vs. 20mpg in the truck.
I used to ride a Motorcycle but that all changed in 1997, when the guy Driving a Dodge truck behind me, kind of ruined my day... :roll:
Lets just say that 7000lb going 50mph meets 500lb going 5 mph.... wasnt one of my better life experiences..
 

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Agreed......it's a lot of money. Another thing to consider is how much they paid in taxes? In the 4th quarter alone they paid over $8 Billion. That is about $88 million a day. The gov't LOVES when the oil companies make big money because they can collect big money and spend it.
 

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Oly, that sucks! I was going to buy a motorcycle, but thought better of it. Maybe in the future, after much drinking, I'll muster up the courage to buy one and ride it down here.

As far as pure numbers and percentages go, numbers are good, but not when the percent is small. Business is all about getting both the number and percent up. Percent up means that there's leeway if something goes wrong.

Complaining about the gas prices and doing nothing about it is about as useless as complaining about gillnets/commercial harvest/flossing/snagging and doing nothing about it. I personally get hammered with gas prices, driving 70+ miles a day in my 4Runner, but I do it gladly. Its another day alive in my favorite car!
 

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madcapmag said:
Complaining about the gas prices and doing nothing about it is about as useless as complaining about gillnets/commercial harvest/flossing/snagging and doing nothing about it. !
You're right in the sense that the State and Feds aren't going to do anything about either situation.
 

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Olybirds said:
Gross Profit was indeed $47.2 Billion

After Administrative costs(wonder how much of that was spent on the CEO!) the NET Income dropped to
11.66 BILLION

Translates into $129.5 MILLION /day in NET.

Still an insane amount of money, still the most ever reported by a company.

Im not complaining Im just pointing out the the facts to the common man..
Gas is a commodity that pretty much everyone in the country is forced to consume, and Exxons Balance sheet shows where all that money we spend on it is going.

fish vacuum said:
Instead of complaining about how the oil companies are screwing us, you could take steps to reduce your oil use. I spent today going over my motorcycle, making sure it's ready to roll when the weather clears. 55mpg on the bike vs. 20mpg in the truck.
I used to ride a Motorcycle but that all changed in 1997, when the guy Driving a Dodge truck behind me, kind of ruined my day... :roll:
Lets just say that 7000lb going 50mph meets 500lb going 5 mph.... wasnt one of my better life experiences..
Sorry to read about the bike accident. I gave them up many years ago for similar reasons. Now I just ride on the dirt.
 

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While almost all of you have good points and well documented facts posted in this thread you are all missing the point of the high prices of fuel now-a-days. If you think 3.50 a gallon is high just wait until you try to us some other fuel and see what that costs you. There is a reason that we depend so heavily on Oil products, first and foremost they are comparatively inexpensive and easy to get. Drill a hole in the right place and start pumping! Ethanol (Corn,sugar, or wood based alcohols) require huge amounts of land to grow on, machinery (tractors, trucks, harvesting machinery etc.all of which runs on some kind of fuel) to get them harvested, processed, and to market. Oil is pumped from the ground, pumped through pipelines covering thousands and thousands of miles in few hours, and arrives at the refinery, where after processing is often shipped to distributors through more pipelines. Much less labor required to complete the process than other fuels.
Also oil based fuel generates more power per gallon than most of the alternative fuels making it a more efficient fuel to use, more efficient means less fuel consumed to do the same work there by being cheaper to use than other fuels. In addition recent studies show that petroleum based fuels IE: gasoline actually burn cleaner than the ethanol based fuels, making it a more environmentally friendly fuel than ethanol.
The answer to the high gas prices is to wean ourselves off of FOREIGN FUELS by more exploration, drilling more wells, and refining more of our own fuel. Also building more efficient vehicles goes a long way to decrease dependency but, it won't solve the problem by it's self. If we want to see prices go down or at least not go any higher we need to quit buying into the Environmental Nazi's rhetoric about how we can't get oil out of the ground without destroying the entire ANWAR National Reserve, and start drilling more holes and building more refineries.
Imagine how wealthy our country could be if we were able to produce more oil than we consumed!!!! I know that China and India are sucking up as much fuels as they can get, why shouldn't we be the ones to sell it to them? Also just think how badly we could FU*K OPEC if we became a competitor instead of their largest consumer!!!!!!!!!!!
 

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We need to switch to this stuff. Tup: http://en.wikipedia.org/wiki/Algae_fuel Large diesel trucks would likely need a blend for the carbon needed on the piston sleeves i've been told. There's an old coal plant down on lake union, so I've been told by the CEO of Bionavitas a few years back. I guess he grows algae biodiesel using a unique lighting method and it is quite secret so we won't go into that. But I guess algae is 80% oil with a waxing nitroglycerin byproduct. He says he powers the old coal power plant with the nitroglycerin and it has a nitrogen byproduct from the burned fuel. He uses the power to operate the algae biodiesel tanks.

He told me that this oil is so good it could stop hunger in most of the world. Desert areas could have waterways made to provide algae farming and food farming. But he also said it takes a little saltwater in the water to make it really produce. It is considered as non toxic and non explosive. It's carbon emission is unparalled compared to nearly all fuel alternatives.

I did ask him if algae biodiesel would be cheaper, and he said "yes". You have to charge a minimum $2 per gallon or there would be an additional $1 per gallon federal tax for any fuel under $2. He said the fuel should be at or near $2 per gallon unless a few tax rules were changed then it would be cheaper.
 

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madcapmag said:
Oly, that sucks! I was going to buy a motorcycle, but thought better of it. Maybe in the future, after much drinking, I'll muster up the courage to buy one and ride it down here.

As far as pure numbers and percentages go, numbers are good, but not when the percent is small. Business is all about getting both the number and percent up. Percent up means that there's leeway if something goes wrong.

Complaining about the gas prices and doing nothing about it is about as useless as complaining about gillnets/commercial harvest/flossing/snagging and doing nothing about it. I personally get hammered with gas prices, driving 70+ miles a day in my 4Runner, but I do it gladly. Its another day alive in my favorite car!
ARE YOU CRAZY??? I am down here on business staying in Mesa and I can't believe how people down here drive on the freeways! Nobody looks before they merge, nobody uses turn signals, Just going from Mesa to Scottsdale for dinner at the Fashion Mall and we have never done it without seeing a cop with his lights on. Accidents every day, un - freakin' - real! The highways here are fantastic though! The weather is perfect for a bike, I'll give you that much.
 

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Really? I haven't seen an extraordinary amount of flashing lights. Its actually common to pass cops, it seems. Makes for a heartstopping moment, but I figure if I stay with the pack, I'll probably get lucky. Mesa to Scottsdale is one of worse stretches though. Just treat it like a game. If you don't want to play, stick to the middle or right lane. Even if you're allowed into the carpool lane, don't go in! Its a madhouse there!
 

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Algae fuels are way to expensive!! Read the following text and see what a real alternative fuel looks like. It is made with NAPTHA which is a waste product of refining oil. That right we could be using left overs from oil refining to run our cars and trucks!!!!!!!!!!!!

WOULD CARS RUN BETTER WITH WATER?
Don't laugh. A fuel mixing H20 and naphtha might just work

After two years of hush-hush work with Caterpillar Inc., a small Reno (Nev.) company called A-55 LP is marketing an unusual new fuel for cars, trucks, buses, and diesel generators. It promises to reduce pollution and might also improve mileage. That's mainly because it's diluted with 30% to 55% water. No joke: water. The rest is primarily naphtha, a derivative of crude oil that's typically cheaper than gasoline or diesel fuel, because it needs less refining.

The fuel, called A-55, is the brainchild of Rudolf W. Gunnerman, a Reno inventor who could easily be mistaken for the mad scientist in the movie Back to the Future. He has spent 10 years and $25 million on the fuel, financing its development mainly with royalties from his other patents. Gunnerman's detractors--and there are many--believe his fuel smacks of Tinseltown make-believe. Oil companies aren't impressed. ''It's a curiosity, not a technical breakthrough,'' says Amoco Corp.

TESTING. Despite the skepticism, Gunnerman's single-minded salesmanship has sparked wide interest among environmental agencies and regulators. Thomas M. Houlihan, head of the White House's new Interagency Environmental Technology Office (IETO), got the Energy Dept. and the Environmental Protection Agency involved. Sierra Pacific Power Co. in Reno generated electricity for more than a year with A-55. State and local agencies in California and Nevada continue to test it in a variety of vehicles.

In Australia, Beston-Pacific Corp. of Adelaide recently plunked down $5 million to license A-55. Alexander John Paior, a senior executive with a big Australian law firm, became so enthusiastic he resigned to help Beston-Pacific commercialize A-55. Gunnerman has deals cooking in Britain, Hong Kong, Japan, Korea, Mexico, and the Philippines.

Caterpillar teamed up with Gunnerman in 1994, after a Reno city bus had racked up 11,500 miles--with 20% better mileage than it got on diesel fuel. The claim that A-55 can boost mileage is a sticking point for skeptics. Gunnerman asserts the increase stems from a catalytic reaction that breaks down the water into combustible hydrogen and oxygen. David B. Kittelson, director of the Diesel Research Center at the University of Minnesota, says this requires at least as much energy as is released when the hydrogen burns, ''so you don't win.''

Researchers have tried adding water to fuel for decades, Kittelson adds. But nobody could make oil and water mix. Gunnerman found a proprietary emulsifier that keeps A-55 mingled for at least a year, he says. To burn A-55, gasoline engines need only minor modifications, mainly in timing controls--a tune-up that runs a couple hundred bucks. Diesel engines require more tinkering.

''SELL THE SYRUP.'' Last October, Gunnerman decided it was time to take A-55 to market, so he backed out of the venture with Caterpillar. New Mexico may be the next proving ground. Last month, its legislature followed Nevada's 1995 lead in designating A-55 as an alternative fuel. By federal definition, this term excludes anything based on petroleum. Thus, without state action, fleet owners can't substitute A-55 to comply with an EPA mandate to use more alternative fuels. This is a stumbling block in the U.S., which explains why Gunnerman spends so much time overseas.

Gunnerman's scheme calls for setting up local joint-venture companies to make the fuel--and import his proprietary emulsifier. ''It's a Coca-Cola situation,'' says IETO's Houlihan. ''Sell the syrup, do the bottling locally.'' If EPA, Energy, and others agree there's fizz in A-55, it just might work.
 

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madcapmag said:
Really? I haven't seen an extraordinary amount of flashing lights. Its actually common to pass cops, it seems. Makes for a heartstopping moment, but I figure if I stay with the pack, I'll probably get lucky. Mesa to Scottsdale is one of worse stretches though. Just treat it like a game. If you don't want to play, stick to the middle or right lane. Even if you're allowed into the carpool lane, don't go in! Its a madhouse there!
Oh, it's a game alright! We play it all the time, it is a blast! I love driving here, just wouldn't own a new car! Stick to the middle or right lane.......HAH! And be a merge obstacle? More fun to the left!!
 
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