[JoeSixPack1]

Oh yeah, lower the pump price by eliminating all taxes and allow the fuel vendors to keep raising the pomp price. Real smart.

And Exxon/Mobile just posted a 31% profit increase over last year. Gee, let's punish our tax system and reward the corporate thieves. Yeah, that's the ticket.

NOT!

[Aggie Mama]

Do you not like capitalism or are you just against oil companies in general? The oil industry is cylical--there are good times and horrible times. It seems like most of this country likes it when the oil companies hit the hard times and are laying off people left and right. God forbid we enjoy the benefits of a somewhat free market.

If you don't like the product or industry, then ride a bike, walk or get a hybrid car.

[Cobra64]

And Exxon/Mobile just posted a 31% profit increase over last year.

Have you looked at their P&L statements and compared them from '03 to '04? If their after tax net income went from 3% to 4.2%, then their profit went up tremendously. Then yokels DEMAND that they spend a feww billion dollars and build more refineries. Some folks need to understand supply & demand, and simple economics, economies of scal and business in general. (sheesh)

[HawaiianGecko]

Sales Comparisons (Fiscal Year ending 2004)

Company	Sales (blns)	Sales Growth	Sales/ Emp (US$)	Largest Region
Exxon Mobil	263.989	23.8%	3,073,213	Rest of the World (76.8%)
Conocophillips	118.719	31.2%	3,316,173	the United States (81.2%)
Total SA	153.301	28.3%	1,376,122	Rest of Europe (34.1%)
Chevron Corporation	142.897	26.5%	2,551,732	International (63.2%)

Your figures are for ConocoPhillips not Exxon and they represent "sales growth" not "profit". Exxon makes about the same profit margin whether oil is selling at $30/bl or $60/bl. Less than 10%.

Profitability Comparison

Company	Year	Gross Profit Margin	EBITDA Margin	Earns bef. extra
Exxon Mobil	2004		17.3%	9.6%
Exxon Mobil	2003	49.0%	15.1%	9.8%
Conocophillips	2004	17.2%	14.5%	6.8%
Total SA	2004	18.3%	17.8%	7.8%
Chevron Corporation	2004	33.4%	15.1%	9.1%

SOURCE  

!

 

[Mister Baredog]

And Exxon/Mobile just posted a 31% profit increase over last year. Gee, let's punish our tax system and reward the corporate thieves.

No one complained ten years ago when oil companies were fighting for survival and oil was $10-15/barrel. You don't believe in capitalism?

If you don't like it stop buying the product or buy oil stocks and enjoy the up cycle.

It's called supply and demand and we can't repeal it no matter what we think.

[ExitPurgamentum]

Gee, let's punish our tax system and reward the corporate thieves.

You speak as a true socialist.

Incidentally, how much money did you embezzle last month from your employer?

[kevao]

Gee, let's punish our tax system and reward the corporate thieves.

Were you of the same opinion when Bush cut income taxes, capital gains taxes, or the tax on corporate dividends?

[okie01]

And Exxon/Mobile just posted a 31% profit increase over last year. Gee, let's punish our tax system and reward the corporate thieves. Yeah, that's the ticket.

Meaning that their profit went from about one cent to 1.3 cents per gallon. Big, hairy deal!

"Big Oil and its obscene profits" are the smallest part of the rising cost of gasoline.