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Exxon posts record $11.68 billion profit
http://money.cnn.com/2008/07/31/news/companies/exxon_profits/?postversion=2008073109 ^ | 7-31-2008 | edcoil

Posted on 07/31/2008 7:57:46 AM PDT by edcoil

NEW YORK (CNNMoney.com) -- Exxon Mobil once again reported the largest quarterly profit in U.S. history Thursday, posting net income of $11.68 billion on revenue of $138 billion in the second quarter.

Eleven Billion might sound like a lot but compared to 700 Billion going to the middle east and the Billions to government in taxes for doing nothing.

Its a drop in the global oil bucket.

(Excerpt) Read more at money.cnn.com ...


TOPICS: News/Current Events
KEYWORDS: energyprices; exon; oil
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To: GOYAKLA

Yep.
McDonald’s Profit Margin = 19.20%
Coca-Cola’s Profit Margin = 18.41%

Why don’t they add these little pieces of data to their story?

(We all know the answer)


21 posted on 07/31/2008 8:29:25 AM PDT by RandallFlagg (Satisfaction was my sin)
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To: edcoil

all the clintonistas that have run fannie mae into the ground should take a lesson from exxon


22 posted on 07/31/2008 8:39:02 AM PDT by sloop (pfc in the quiet civil war)
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To: CSM
Anyone who complains about this “windfall profit” should be willing to accept less of a return on their 401K.

Considering the performance of my 401K this past year, you must be joking.

23 posted on 07/31/2008 8:43:22 AM PDT by Realism (Some believe that the facts-of-life are open to debate.....)
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To: edcoil
Is 11.68 billion enough to purchase enough foreign crude oil to get us through the next quarter?
24 posted on 07/31/2008 8:52:30 AM PDT by Dixie Yooper (Ephesians 6:11)
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To: poobear
How much did the Federal Government rake in with gas tax?

Normally, you can multiply the net income X 3 to get the government's portion of the pie. In this case the government probably collected about $35 billion dollars....talk about a windfall profit!!!

25 posted on 07/31/2008 8:59:25 AM PDT by politicalwit (AKA... A Tradition Continues...Now a Hoosier Freeper)
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To: cameraeye
I have boycotted exxon and mobil since they both merged to be the biggest crooks in American history.

The instigators of the Fannie Mae/Freddie Mac boondoggle are the biggest crooks in American history. (Unless you count the very concept of a fiduiciary issue as inherently fraudulent - in which case we're still talking about the Feds as far as I can tell). Private companies aren't even a blip. The Mafia isn't even a blip.

26 posted on 07/31/2008 9:11:30 AM PDT by agere_contra
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To: purpleraine
lol, trillion dollar profit bad? Not in my book.

.5% profit margin? Have you considered the revenue produce to achieve a trillion dollar profit?.

Too much to even ponder. I know you are being facetious

27 posted on 07/31/2008 9:31:32 AM PDT by Las Vegas Ron (Election '08, the year McCain defined the word "dilemma")
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To: Dooderbutt

Thanks...that was my point exactly. I was just too lazy to type it.


28 posted on 07/31/2008 9:33:38 AM PDT by Las Vegas Ron (Election '08, the year McCain defined the word "dilemma")
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To: Las Vegas Ron
When the oil company made a record profit in the billions and someone ways, yeh, but their profit margin is only 8%, they are trying to excuse something that is obscene.

Record profits come from record escalation of prices, during a war no less. Previously it would be during a hurricaine or when ever some dictator farted. Please don't give me that freee market crap.

29 posted on 07/31/2008 10:17:42 AM PDT by purpleraine
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To: purpleraine
You obviously have no clue how a business runs nor do you realize who the real people are that profit from "Big Oil" earnings..

Ever hear of stock holders, pension funds, firefighter, teachers retirements, mutual funds, people who invested so that they could retire in some semblance of comfort not relying on taxpayers (i.e. you and me)

And don't even get me started on how much the government collected. Learn some economics before you spew dem talking points.

30 posted on 07/31/2008 11:04:53 AM PDT by Las Vegas Ron (Election '08, the year McCain defined the word "dilemma")
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To: purpleraine
PS When working with profit margins, profits do not come from an escalation in prices, they come from escalation in production and total revenues from total volume sold.

Wartime or not. As an aside, the smallest percentage of profits oil companies make come from gas sales and in the US. 70% is international and from other products produced from oil. Like those plastic keys you're typing on.

31 posted on 07/31/2008 11:13:23 AM PDT by Las Vegas Ron (Election '08, the year McCain defined the word "dilemma")
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To: edcoil
*yawn*

How much is going to the government for doing nothing?
Oil lease payments, royalties and taxes at all levels?

$22 billion?
$30?
$40?

32 posted on 07/31/2008 11:59:09 AM PDT by Publius6961 (You're Government, it's not your money, and you never have to show a profit.)
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To: Realism

“Considering the performance of my 401K this past year, you must be joking.”

My point probably was not clear, so I will try to be more specific. Do you expect returns of more than 8% over the life of your 401K? If so, then there should be no reason to complain when any company makes ONLY 8%. I’m not really addressing this to you specifically, just making the general point that this story, and all the coming follow on stories, is nothing but continuing the push of class warfare and envy.


33 posted on 07/31/2008 1:22:07 PM PDT by CSM (Hey if a small tax increase didn't work, a bigger tax increase should not work even BETTER!)
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To: Las Vegas Ron
I know how the oil business runs and I'm a business owner myself. Ever hear of gouging? Here's an example for the uneducated apologists. There's a natural disaster and the local store is charging $10 for an 89 cent bottle of water. When the emergency is over some locals set fire to the store. That's how business is run.

In the case of oil prices, we're at the mercy of government regulation, international cartels, speculators, and taxes that increase when the price goes up.

You're ability to retire on the pain and suffering of others should give you a real noble feeling. Enjoy your record profits.

34 posted on 07/31/2008 1:39:07 PM PDT by purpleraine
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To: Las Vegas Ron

BS on your 31. Profits do come from increasing prices if you increase the prices more than needed to meet costs and production. That’s exactly what’s happening everytime there’s a situation I mentioned earlier. When you made record profits over the hardship of others and you’re running a monopoly on required commidities, you’re gouging plain and simple. There’s a worse word for it, but what’s the point.


35 posted on 07/31/2008 1:42:17 PM PDT by purpleraine
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To: purpleraine
Not worth the time, you're mind is made up. I can tell by your statements you have no econonmic savy for business. And that is not meant to be an insult in any way, honestly.

If you own and run a business, you obviously do not carry inventory or understand the economics of demand.

High prices in emergencies prevent shortages. "Gouging" (thats not to say tere are exceptions) is a favorite word for those who do not undersand demand economics.

36 posted on 07/31/2008 2:00:10 PM PDT by Las Vegas Ron (Election '08, the year McCain defined the word "dilemma")
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To: Las Vegas Ron

XOM down 4 today. Stockholders are not impressed.


37 posted on 07/31/2008 2:04:59 PM PDT by RightWhale (Exxon Suxx)
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To: purpleraine
When the oil company made a record profit in the billions and someone ways, yeh, but their profit margin is only 8%, they are trying to excuse something that is obscene.

Record profits come from record escalation of prices, during a war no less. Previously it would be during a hurricaine or when ever some dictator farted. Please don't give me that freee market crap.


38 posted on 07/31/2008 2:12:37 PM PDT by Dr.Deth
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To: RightWhale

Thats kind of strange. Did they fall short of their forcast for the quarter?


39 posted on 07/31/2008 2:15:13 PM PDT by Las Vegas Ron (Election '08, the year McCain defined the word "dilemma")
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To: Las Vegas Ron

Yes, that is what happened. Did not meet expectations.


40 posted on 07/31/2008 2:20:41 PM PDT by RightWhale (Exxon Suxx)
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