Exxon getting out of retail gas business

AP/Yahoo ^ | 6-12-2008

[Fox_Mulder77]

......The world's largest publicly traded oil company said Thursday it will sell its 820-company owned stations and another 1,400 outlets operated by dealers to gasoline distributors across the U.S.

[MartinStyles]

‘Downstream’ at exxon is a horrific job. Offshoring, low pay, and general treating employees as human wreckage abounded.

They seemed to hate downstream so much (much of which they got when they bought Mobil) they I think they should just shut it all down.

[bereanway]

The convenience side is where the money’s at. Speaking to a manager with MFA maybe 13 years ago which ran a group of stations in Missouri about a hole in the wall station and store in Columbia, MO. The convenience store side was maybe 20’x20’ but he said they sold over $100,000/month in junk (pop, cigarettes etc). Tremendous mark-up, some of the larger stores in busy areas have to be doing tremendous volume.

[Eric in the Ozarks]

My impression was that their target margin on gasoline was $.10 and something like 150 percent margin on bread and milk. Sometimes, their gasoline margins would go negative. In today's contango market, that may be a thing of the past.

[DesScorp]

“If they were smart they’d move their headquarters out of the US and issue a statement as to why.”

The Democrats would penalize them for doing so.... an “economic traitor tax” so big it’d bankrupt them. I’d do it anyway with this bunch, and rebuild elsewhere.

Liberalism is a plague, and the Democratic Party is it’s carrier.

[cardinal4]

The MFA in Bunker, MO is a two pump operation. I always wondered how they stayed in business..

[Squantos]

There was a recent little modern marvels or engineering show where the UAE was building artificial islands etc too build homes on . In that show there was a gem of a comment made by the emir. He was putting the UAE’s dollars towards tourism etc as the oil revenue was going too dry up in the next few years....2015 I believe was referenced and they knew they needed too alter that country’s major source of income too tourism vs oil .

I can not remember the exact show yet it was where they were building the islands in the shape of palms, and the USA individual states, a set of islands in the shape of a world map etc ...........

That comment by the Emir was what I keyed on , not sure of what he meant yet I heard it.

Aside from that here is a neat rant not associated with that show.

Stay safe !

http://www.youtube.com/watch?v=ZPch2k63uj4

[deport]

Just so you know the search engine is kaput. I guess attributed to the outage earlier today..... If you tried to find this thread via it’s posted title you’d get zilch......

[Centurion2000]

The second comment I would make is this... the oil company doesn't trust our current political climate so if the liberals try to "tax" windfall profits... guess what? there ain't much of Exxon in United States anymore... I bet Exxon's next step is to register as a UAE corporation...

I think we're going to see a lot of this sort of 'migration' over the next several months.

[Brilliant]

Good going Democrats.

You won’t be happy until they get out of the oil business altogether.

[Tzimisce]

Well with the giant target painted on them by Congress, who can blame them?

[RetiredArmy]

If they were smart they’d move their headquarters out of the US and issue a statement as to why.

You have hit on something here. Actually, it would not surprise me to see a lot of American business relocate off shore or move their corporate HQ's to more friendly countries. If they get the right $$$ and tax deals from those countries, they would move, and then do like all the Eurowinnies do and just have businesses here in the USA. Would not surprise me at all to see all the big oil, Wal Mart, Boeing types move away. None at all.

[RayChuang88]

Many gas stations nowadays make more money from the drinks and snacks in the convenience stores attached than from selling the gas.

That explains why ARCO was way ahead of the curve with its AM/PM Mini-Market concept.

[2harddrive]

Can’t say I blame them for quiting the retail end. Why take the blame for high prices from the motorists, when Congress ties their hands by criminalizing drilling in America?

[Fox_Mulder77]

Exactly

The retail side of the business is a huge drag on their company. It’s not worth it.

[evangmlw]

STUCK ON STUPID

[Flavius]

you should all really read beyond the golfer

Exxon is influenced by they Rock fellers whos off'spring wish for green earth religion thats why Exxon is being softly sucked from within. it aint no clairvoyant magic

I said no: "The profits that big oil might make at this point I don't think are necessarily off the table in terms of being available to invest in the technologies of energy of the future. I think instead of taxing income and profits, we ought to be looking at ways to incentivize the fuels of the future."

http://investorvillage.com/smbd.asp?mb=4632&mn=8559&pt=msg&mid=4724969 third generation liberal guilt

[Katarina]

I don’t blame then one bit. Thank you so much for this thread.

[HawaiianGecko]

I guess they're not making as much evil profits as Democrat proclaim. Huh?