Posted on 08/17/2008 1:14:25 PM PDT by InvisibleChurch
An excerpt from Rush Limbaugh dot com, paid subscriber's side:
Rush speaks: But the interview with Charles Gibson on ABC, and they write this up at the ABC website: "ExxonMobil CEO and chairman Rex Tillerson defended his company's staggering $11.7 billion in profits for the second quarter, saying that the company's earnings reflected the magnitude of its business operation. 'I saw someone characterize our profits the other day in terms of $1,400 in profit per second. Well, they also need to understand we paid $4,000 a second in taxes, and we spent $15,000 a second in cost,' Tillerson told ABC News' Charles Gibson. 'We spend $1 billion a day just running our business. So this is a business where large numbers are just characteristic of it.'" So they're starting to do a little bit better on their own PR.
Okay, so the profit was $1,400 a second, taxes $4,000 a second, $15,000 a second in costs, a billion dollars a day just to run the business. He goes on, "'I can understand why people are very upset and why they're very worried and concerned about their ability to deal with these high prices. It does bother me that much of that is directed at us. Our job is to provide energy, to provide it in a means that is reliable. And we hope we can provide it in a means that's convenient as well to the consumer.' When asked whether he agreed with Phil Gramm, Sen. John McCain's former economic adviser, who labeled America as a 'nation of whiners,' Tillerson said he empathizes with American consumers. 'I don't think there's any question that if these prices -- $3.50, $4 a gallon for gasoline -- and the follow-through effects on the cost of electricity [are] causing a lot of problems for a lot of Americans. ... Their budgets just are very difficult for them to accommodate this.'"
$ 4,000 per second in taxes = $324,6000,000
$15,000 per second in costs = $1,296,000,000
Yup, about 10% profit margin.
If it were any other industry (say, groceries), the shareholders would be SCREAMING about the need to raise the profit margin.
“$1400 profit per second...”
as usual, the democrats are priming the pump for the nationalization of the oil companies.
they will villify “big oil”, then they will confiscate “big oil”.
(hugo chavez, che guevarra, josef stalin, MOVE OVER, you have heavy duty competition.)
To drown a liberal, you'd have to pour the water on the other end...
Maybe you could answer a question for me that I haven’t seen or been able to find. Even if only an approximate number:
How many people have investments in the oil company either through individual stock ownership or through money market funds, IRA’s or 401K’s?
The reason I would like this to be make known is that when the RECORD PROFITS of the oil companies are published, no one ever indicates the number of people that this benefits. The impression is that this money goes only to a few privileged people rather than to the shareholders of these companies.
Better yet, how much they spend on useless crap and projects?
THEY ARE ALL PATHETIC!
You mean like widows, orphans, mutual fund investors, people who benefit from 401Ks and other pension programs like Calpers and public employee union pension funds -- all of which are heavily invested in oil and other energy stocks?
Maybe Pogo had it right: "I have met the enemy and he is us."
Bbbbwaaaahahaha. Quote of the Day.
History Channel's Modern Marvels: Secrets of Oil
Rubber, Plastic, Nylon, Aerosols, Resins, Solvents, and Lubricants--none can exist without oil. If we stopped driving our cars tomorrow, America would still need five million barrels of oil a day. Visit Vulcan Materials, where oil tanks are emptied into massive double-barrel mixers to make asphalt and then continue to the Rolls Royce Aerospace Facility where complex jet fuels are blended. Travel back to the 1870's to see how an unemployed whale oil salesman turned a greasy oil-drilling by-product into a household staple: Vaseline. Finally discover how cutting-edge recycling techniques can breathe new life into used motor oil, and where a number of renewable fuels and technologies take aim at oil sovereignty.
Look at what evil "big oil" does with it's evil product!
I hate to rain on your parade, but a 10% profit margin is unheard of in the grocery industry. Profits are much lower.
One 42-gallon barrel of oil creates 19.4 gallons of gasoline. The rest (over half) is used to make things like:
Solvents; Diesel; Motor Oil; Bearing Grease; Ink; Floor Wax; Ballpoint Pens; Football Cleats; Upholstery; Sweaters; Boats; Insecticides; Bicycle Tires; Sports Car Bodies; Nail Polish; Fishing lures;Dresses; Tires; Golf Bags; Perfumes; Cassettes; Dishwasher; Tool Boxes; Shoe Polish; Motorcycle; Helmet; Caulking; Petroleum Jelly; Transparent Tape; CD Player; Faucet Washers; Antiseptics; Clothesline; Curtains; Food Preservatives; Basketballs; Soap; Vitamin Capsules; Antihistamines; Purses; Shoes; Dashboards; Cortisone; Deodorant; Footballs; Putty; Dyes; Panty Hose; Refrigerant; Percolators; Life Jackets; Rubbing Alcohol; Water purifcation filters; Linings; Skis TV Cabinets; Shag Rugs; Wiring insulation; Electrician's Tape; Tool Racks; Car Battery Cases; Epoxy; Paint; Mops; Slacks; Insect Repellent; Oil Filters; Umbrellas; Yarn; Fertilizers; Hair Coloring; Roofing; Toilet Seats; Fishing Rods; Lipstick; Denture Adhesive; Linoleum; Ice Cube Trays; Synthetic Rubber; Speakers; Plastic Wood; Electric Blankets; Glycerin; Tennis Rackets; Rubber Cement; Fishing Boots; Nylon Rope; Candles; Trash Bags; House Paint; Water Pipes; Hand Lotion; Roller Skates; Surf Boards; Shampoo; Wheels; Paint Rollers; Shower Curtains; Guitar Strings; Luggage; Aspirin; Safety Glasses; Antifreeze; Football Helmets; Awnings; Eyeglasses; Clothes; Toothbrushes; Ice Chests; Combs; CD's; Paint Brushes; Detergents; Vaporizers; Balloons; Sun Glasses; Tents; Heart Valves; Crayons; Parachutes; Medical equipment; Telephones; Enamel; Pillows; Dishes; Cameras; Anesthetics; Artificial Turf; Artificial limbs; Bandages; Dentures; Folding Doors; Hair Curlers; Cold cream; Movie film; Soft Contact lenses; Drinking Cups; Fan Belts; Car Enamel; Shaving Cream; Ammonia; Refrigerators; Golf Balls; Toothpaste; Gasoline
Americans consume petroleum products at a rate of three-and-a-half gallons of oil and more than 250 cubic feet of natural gas per day each! But, as shown here petroleum is not just used for fuel.
This is just 144 out of 6000 (probably a lot more than 6000 now) and NONE can be made from wind, solar, nuclear or corn.
Yet Obama and the Libturds declare that we need to search for alternatives and become "oil free" in the next however many years!
We will never ever be oil free. Oilo is a hydrocarbon made deep in the earth and we're dependent on it...even if we never power our cars or trucks with it.
Plus, we're NOT running out of oil. Wells in Texas and Oklahoma and eslwhere thought pumped dry are refilling. The Deep Earth Biosphere is sending up new supplies of oil all the time...and in places we've never considered. Oil in NOT a fossil fuel. It's a hydrocarbon petroelum and not of burried dinos and plants!
O’Reilly positioned himself into the most influential road block towards-——— lowering his ratings among those who have an IQ above FloriDUHS? on a hot day....
We send $22,182 per second to nations that hate us.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.