Where's Captain Joe when you need him? Exxon posts Record profits

[buck50]

Ug! For the third time, this is your original statement to which I responded. The word PROFIT is nowhere to be seen!
The defense rests.

Oh, and the azzhat comment was ment for sturgis, not you. Sorry.

sorry, didn't realize we were getting that nit picky with the wording. to most people making X amount of dollars is equivalent to making a profit of X amount of dollars. hopefully now we are clear. and it's all good about the comment, knew it wasn't for me

 

[Sturgis Sledder]

Ug! For the third time, this is your original statement to which I responded. The word PROFIT is nowhere to be seen!
The defense rests.

Oh, and the azzhat comment was ment for sturgis, not you. Sorry.

I am sorry you "ment" that I am an Azzhat because I find it morally wrong to show record profits by overcharging for a product that consumers "have" to have. They are no different than the scumbags that charged $10 for a bag of ice after hurricane Hugo, just because people had to have ice because they had no electricity to cool their food (I was there and was one of the lucky ones that had my power back on in about 10 days). The figure, a 3 percent increase from the previous year, exceeded the company’s own record for profits at an American corporation, set in 2006, and is nearly twice what it earned in 2003." They could EASILY lower the price of gas/oil by lowering their prices, that would force all the others to lower their prices or lose the business. By doing this, they yes would lower their "record" profits, but is it right that their "record profits" will drive our whole economy into the ground. If you don't believe that watch what is happening to the price of everything going up due to increased fuel/transportation costs, watch how many farmers/ranchers will lose their land because they can't afford to "work" it.

 

[MARV1]

No matter how much profit they make, including record #'s as stated, they'll never pay the fine they got from the State Of Alaska for the Exxon Valdez oilspill.

 

[weetee]

I am sorry you "ment" that I am an Azzhat because I find it morally wrong to show record profits by overcharging for a product that consumers "have" to have. They are no different than the scumbags that charged $10 for a bag of ice after hurricane Hugo, just because people had to have ice because they had no electricity to cool their food (I was there and was one of the lucky ones that had my power back on in about 10 days). The figure, a 3 percent increase from the previous year, exceeded the company’s own record for profits at an American corporation, set in 2006, and is nearly twice what it earned in 2003." They could EASILY lower the price of gas/oil by lowering their prices, that would force all the others to lower their prices or lose the business. By doing this, they yes would lower their "record" profits, but is it right that their "record profits" will drive our whole economy into the ground. If you don't believe that watch what is happening to the price of everything going up due to increased fuel/transportation costs, watch how many farmers/ranchers will lose their land because they can't afford to "work" it.

That, my fellow sledder, is called communism, and is proven not to work. If people have the foresight to stockpile ice before a hurricane, they should be rewarded. They are not "scumbags", they are entrepreneurs'. Its called supply and demand. All capitalism is a form of gouging. You might not think it's morally right, but its the best way to motivate business growth and new technologies. Ever wonder why the USSR had to steal our innovation? Because there was no incentive for the people to come up with the ideas themselves.
While we (oil companies included) are developing new sorces of energy, let them drill domestically (ANWR), and build refineries. Thank god they have the capital (profits) to do this. Creating a greater supply than demand is the only way global gas prices will drop, and create a more stable, less foreign dependent market.

Oh, and I did not mean to call you an azzhat, just referring to your previous post. If offence was taken, I am sorry.

 

[Sturgis Sledder]

They did not "stockpile" ice, no one had electricty so no matter how much you had it was going to melt , unless you had or went out and bought a generator (which they were gouging on as well). I am not against anyone making a profit but gouging is another story. I do believe they are gouging and not just them, but the whole gang and maybe gouging isn't the right word, PRICE FIXING is the right one. Does it cost them twice as much to produce a barrel of oil now that it did less than one year ago, because the price has nearly doubled. I will be the first one to say that free enterprise is good, but price fixing is bad.

weetee, It's all good.

 

[weetee]

How are they (American oil companies) price fixing? They sell their product for fair market value on a global market. The only way to lower the price of their product is lower the fair market value. ie..supply increase. (Drill in ANWR) If you think they have an unfair advantage, I suggest you buy their stock.
I'm not an economist, but I did stay at a Holiday Inn last night.

 

[Dogmeat]

They did not "stockpile" ice, no one had electricty so no matter how much you had it was going to melt , unless you had or went out and bought a generator (which they were gouging on as well). I am not against anyone making a profit but gouging is another story. I do believe they are gouging and not just them, but the whole gang and maybe gouging isn't the right word, PRICE FIXING is the right one. Does it cost them twice as much to produce a barrel of oil now that it did less than one year ago, because the price has nearly doubled. I will be the first one to say that free enterprise is good, but price fixing is bad.

weetee, It's all good.

You need to look into who is doing the gouging here. Read what I wrote above about how you never read this story about Saudi Aramco.

OPEC sets the prices, NOT ExxonMobil .... What, is EoM supposed to do? Just be like "Oh well since we're doing so well we'll just sell our stuff at less for less than what the market dictates so everyone can "feel good" about us?" .... huh?