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Exxon Mobil profits jump 32 percent
Reuters via CNN ^
| July 28, 2005
| Reuters staff
Posted on 08/17/2005 2:09:32 PM PDT by WmShirerAdmirer
click here to read article
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To: lmr
The increment between 60 and 80 is even shorter still than the increment between 60 and 80. Not your fault, BUT I HATE GRAPHS THAT LIE.This is just an instance of someone using the equivalent of jargon for the financial services industry when conversing with a layperson. Logarithmic scales are commonly used in the industry, but sometimes the assumption that everyone reads financial performance data on such a scale catches some lay people off guard.
121
posted on
08/17/2005 10:08:53 PM PDT
by
tyen
To: Normal4me
"Happy you had the foresight and the extra cash to make us all pay more for gasoline. Congratulations. :-)"
Foresight being the key word. I chose NOT to be a victim of "big oil". It's anybody's choice...and anyones opportunity. Capitalism at it's best.
122
posted on
08/18/2005 5:08:25 AM PDT
by
taxed2death
(A few billion here, a few trillion there...we're all friends right?)
To: lmr
OK here it is in linear scale
![](http://bigcharts.marketwatch.com/charts/big.chart?symb=xom&compidx=aaaaa%3A0&ma=0&maval=9&uf=0&lf=1&lf2=0&lf3=0&type=2&size=2&state=8&sid=161455&style=320&time=20&freq=2&nosettings=1&rand=9745&mocktick=1&rand=887)
Why Isn't the Price Scale Evenly Spaced? Long-term charts use logarithmic rather than linear scale. Logarithmic is the standard for most stock price charting applications. Logarithmic scales for stock charts allow you to compare details in a more meaningful way, even when the price varies over a wide range. They also reflect the relative nature of stock price movement (eg, a 5 point move in a $10 stock is much more drastic than the same point-value move in a $100 stock), thus making side-by-side comparison of charts more relevant.
123
posted on
08/18/2005 6:00:36 AM PDT
by
petercooper
(Mark Levin for Supreme Court Justice.)
To: ThinkDifferent
"Calm down, and read some economics books. Exxon is doing exactly what they should. "
I'm sure the executives at Exxon are encouraged by your unconditional support.
124
posted on
08/18/2005 6:00:44 AM PDT
by
GunnyHartman
(Allah is allah outta virgins.)
To: GunnyHartman
Companies want to make the most profits. Thats their agenda and thats how a free market works. The law of supply and demand. Looks like everybody think the free market is great because of the law supply and demand, but not when it comes to oil. Either you are for big business and profits ran economy or you are not.
To: SamAdams76; antaresequity
I'm far from being an accountant ( so if I'm wrong please tell me) but my understanding of how vertical corporations work is that
Production sells the oil to refining
refining sells the gas to marketing
marketing sells the gas to the gas stations
and we buy it from the gas stations
quoting from the article
" Oil and gas production fell 4.3 percent, as maturing oilfields and maintenance activities offset higher crude production"
"Oil and gas production volumes (and earnings) were disappointing in the quarter, but this was offset by a now-familiar bonanza in the refining and marketing division - particularly in the U.S.," Credit Suisse First Boston analysts said in a
research note."
(underline is mine)
So even though production is down for the second quarter profits are up 32% due to the efforts of the refining and marketing arm
So if marketing is making a "bonanza" couldn't you be suspicious that they may be manipulating the final cost of gasoline ala Enron and electricity in California.
126
posted on
08/18/2005 6:32:15 AM PDT
by
grjr21
To: tomjohn77
" Either you are for big business and profits ran economy or you are not."
OK,OK, I give up. It seems that I am definitely on the losing end of this discussion. Everyone has made valid points and I realize mine is just wishful thinking. Maybe when Exxon reaches hundreds of billions of dollars in quarterly profits and the rest of the economy goes down the pooper because of the eventual inflation it causes, even my fellow conservatives will start turning a suspicious eye towards these gluttoneers.
127
posted on
08/18/2005 6:57:47 AM PDT
by
GunnyHartman
(Allah is allah outta virgins.)
To: Black Tooth
Those in the Midwest, Northeast and East will be taking a double hit this coming winter with heating oil.Most of the Midwest is gas, like here in Ohio. Not that gas prices are all that cheap.
To: petercooper
Nice climb! Thanks for the visual.
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