Exxon Quarterly Profit $8,400,000,000.00

5th Highest Ever

I guess everyone is taking a hit these days with petroleum you would think it would be the highest profit ever. I mean basically with inflation and all every qtr. should be a little better then the last right?

 

Can they lend me $10 till pay day?

 

I do not think they can afford it.

 

First of all let us review simple economics of supply and demand. Put quite simply if supply is low then demand becomes high if demand is higher than supply can keep up at a given price then quite simply the price increases. The same formula works if supply is greater than demand then you pay less. This is not an evil law of capitalism this is simply a natural law that effects all societies globally.

Since we are concerned with the profits of the big oil companies and the price of gasoline here in the U.S. lets us see what we can suggest that might help. How do you increase supply? Well let us look at our options. Where in the world is the supply that specifically the U.S. has control over? And what are the restrictions to supply that the U.S. has control over? A big part of the supply problem is not oil related but instead gas related.

Who in the U.S. has through legislation restricted the development of refineries here in the U.S.? Under what reasoning have they used to justify tying the hands of the oil companies and preventing them from increasing their refining capacity? The result being that instead of spend money increasing there refining capacity they have instead used their money for global oil exploration and congressional lobby efforts?

Who though legislation has created an environment where the gas companies are having to make umpteen different blends of special fuel in order to meet differing standards of different states?

Who through legislation raised the percentage of tax on the sale of gasoline?

Lets take very short little ride down memory lane shall we? It is 1993 Bill Clinton the first non-popularly elected president (I know most of you are confused by that statement and possibly think its not true, Ross Perot ran as independent and at one time was running nearly nose to nose in a three way race most of his votes came from right wingers who liked his simplification of the tax system and small government all key right wing ideals) So after working for the mandatory hiring of gays into the military. And total socialization of the healthcare system. What was the next order of the day for the Clinton administration? A 26 cent per gallon gas tax that’s what. And what about that shit bag leer jet flying John Kerry in 94 proposed a 50 cent gas tax hike.

Alright now how about some really simple math I’ll even round the numbers for you so you can see this really simple in your head. Exxon Mobils profits were roughly 9 cent per gallon to equal roughly 9Billion for the first quarter. While at the same time the United States federal tax for that same gallon of gas was 18 cent. (The democrats were never able to pull off there agenda in the 90’s thank god! There agenda was the very reason for their demise also. Simple facts folks historical facts) So the governments take on Exxon Mobile sales was 18,000,000,000.00 then you have to ask yourself what about Texaco, Sonoco, Citgo, BP….. etc. …etc. Maybe their take was not as much but the U.S. government took the same percentage of each. Now let’s consider Billy Bob the independent gas pump owner. His take is about 14 cent per gallon at the same time local, state, federal governments are getting almost 50 cent per gallon. Billy bob has to go back and pay his workers Jake and Elwood along with there social security and federal income tax. Overhead for the building such as electricity etc. (the electric company pays a tax also) Speaking of tax let us go back to that 9 Billion that Exxon made hell they got to pay taxes on that as well as pay their workers who then in turn will have to pay their taxes also. It never fucking ends THE GOVERNMENT TAKE IS FUCKING MIND BOGGLINGLY ENORMOUS!

Let’s also consider other industries profits.

Microsoft Profits? ………38% and the government got their take of that.
Pharmaceutical companies?.......17.6% and the government got their take of it.
Bankers made an average profit of 19.1% think about that when you pay that $2.00 debit transaction fee.

As a whole the oil industry profit? Around 8.5% profit.

The media spin here should be obvious to all who read this. Today I watched the news tell me that I was concerned about the low progress in New Orleans and that I was really upset that the Oil companies were exploiting the consumers in order to make ridiculous profits

Did you buy that line of spin?

 

How else is your government going to afford to stay in Iraq? Given your massive budget deficit, the only way taxes will be going is up.

 

Reagan proved that lower taxes mean a stronger economy and therefore more tax revenue over all.

But yes you are whistling the same tune of the Democratic Party. And when the current strong economy then goes to shit they will need to find a scapegoat.

 

Speaking of Reagan, can you thank him for handing over your "succesful economy" and quadrupling of the national debt to my generation. I don't understand why the Republican party grants god-like status to a man who couldn't balance the national checkbook.

 

Reagan cut taxes and overall tax revenue increased. That’s a fact. So if tax revenue increased how is it Reagan’s fault for the national debt? Be carefull Dio and think out your answer I'll give you that much ahead of time. You already showed your mindset and where you get your ideology when you blamed the debt on Reagan.

 

Joeslogic wrote

Dont you need fuel for all that "freemarket" growth ?

 

Diogenes srote:

I think it was about the cold war or something :wink:

 

:shock:

Pretty much my point Xerx. You will the million dollar prize.

 

It was a number of things and Reagan pisses me off. Joe, if you can't look past the statistics and see the times for what they really were you're a great fool.

 

Ugh just reading this gives me a headache... republicans suck, democrats suck, you suck... Look, even if your fucking fat assed mama, were elected president tommrow, your life would still suck as much tommrow as it does today. deal with it

 

The times were awesome. 80's were the best man where were you at? Problem is everyone with a left slant will then start with how shitty their life was during the 80's cause that is what they believe. It's just like the news the other day when I decided to sit down and watch. Armed with the facts about a booming economy and strong consumer confidence. The news was their to inform me I was desperate, despondent, and angry at the oil companies bilking me for my hard earned cash. A totally bogus view of reality. You of all people Smurf with your (not really so) alternative ideas about science and the weather so willing to think the worst about government in one respect. End up just being manipulated by the system and turned into a tool.

Dwaine I have to respectfully disagree life is in reality good the quality of life worldwide is better than ever in many respects. I have a picture of my Grandpa he was born somewhere around 1920 at about five years old in Florida somewhere around a little town currently called Frostproof. Sitting on an open wagon loaded with household belongings. His brother, mom. dad. His mom and dad were immigrants from Ireland they were moving to Alabama. Try to imagine it hot rainy mosquito ridden ride on a horse drawn wagon. Naw man times are good people are just pissy, bitchy, and jealous about what everyone else has got miserable cause their neighbor drives a car one year newer than theirs.

 

Naw Joe, people know where the shit's headed. Just a matter of time.

 

I think it's pretty clear where Joe's drawing his "memories" from ...

 

Just go with the news media for the best advice Chester for how you feel, how happy you are about everything going on and at the same time depend on the advertising industry to help you out about where you want to spend your money. I'm sure it’s your best interest each of them are looking out for. :wink:

 

The advertising industry already helps me to MAKE my money.

Anyhow, you're the guy who seems surprised to have a box of Quakers Oats in his cupboard. :wink:

 

True as much as I try to avoid it I become a victim myself.

Speaking of advertising or marketing field I have a question about a potention business oppertunity.

 

Fire away. Or PM or email me if you prefer.