Record Profits For Exxon 10.7 B

[Japher]

I'm not happy about it. It really angers me when I think about how these prices reflect in the price of all other consumer goods. The governement tries to regulate this through the reserves but Bush seems to keep those reigns pretty tight.

It always angers me when a single industry/government/company can control so much indirectly.

[Dauphin]

Originally posted by Sava
is anyone else pissed off that we (consumers) are getting assraped by these mother****ers?

Nah, should have just bought shares in the oil companies.

Although, a large percentage of shareholders of Shell were going to or are suing the company. It defies belief really.

[Kidlicious]

Originally posted by Dauphin


Nah, should have just bought shares in the oil companies.

Naw, should have just took the whole thing.

[CrONoS]

See you in Hell *******
==================
Exxon Valdez dispute returns to court
SAN FRANCISCO – Exxon Mobil Corp. urged a federal appeals court last Friday to erase a jury’s $5 billion judgment against the oil giant for the 1989 Valdez oil spill, one of the country’s worst environmental disasters.

Exxon attorney Walter Dellinger told a three-judge panel of the 9th U.S. Circuit Court of Appeals that the company should be liable for no more than $25 million in punitive damages. Punitive damages are meant to deter and punish misconduct.
Exxon, which reported third-quarter earnings of $10 billion, said it has spent more than $3 billion on cleanup work and to settle other federal and state lawsuits stemming from the spill.
The court on Friday did not indicate when it would rule. AP

[Sava]

Originally posted by cronos_qc
See you in Hell *******
==================
Exxon Valdez dispute returns to court
SAN FRANCISCO – Exxon Mobil Corp. urged a federal appeals court last Friday to erase a jury’s $5 billion judgment against the oil giant for the 1989 Valdez oil spill, one of the country’s worst environmental disasters.

Exxon attorney Walter Dellinger told a three-judge panel of the 9th U.S. Circuit Court of Appeals that the company should be liable for no more than $25 million in punitive damages. Punitive damages are meant to deter and punish misconduct.
Exxon, which reported third-quarter earnings of $10 billion, said it has spent more than $3 billion on cleanup work and to settle other federal and state lawsuits stemming from the spill.
The court on Friday did not indicate when it would rule. AP

[Dauphin]

Originally posted by Kidicious


Naw, should have just took the whole thing.

That would have pushed share prices up too much to properly capitalise on the profits due to the takeover rumours. On the plus side, free gas. They balance out a bit I suppose.

[Odin]

Originally posted by Sava
is anyone else pissed off that we (consumers) are getting assraped by these mother****ers?

Welcome to Peak Oil. They'll get filthy rich while Suburbia chokes to death. I'd get out of Napperville if I were you.

[Asher]

Originally posted by Sava
is anyone else pissed off that we (consumers) are getting assraped by these mother****ers?

I just got $400 as a result of these mother****ers. I'm happy as I can be.

Next week my dad gets his profit sharing and performance bonus. He's getting a new car.

[Flubber]

Originally posted by Dauphin


Nah, should have just bought shares in the oil companies.

I did

Now its decision time about whether to get out. There are mixed messages about where oil will go . . . So I'm thinking I'll hold what I have but will put any new money in other sectors and regions.

[Flubber]

Originally posted by Sava
is anyone else pissed off that we (consumers) are getting assraped by these mother****ers?

Well I work in the industry so I can't claim to be unbiased


But a basic question . . . Do you believe in the free market or not?


Many of these companies took HUGE risks by continuing to invest in exploration and production at times when the price of oil was very low ( 1998 $12-15 dollars per barrell)-- They are getting rewarded now


Also... who is holding people down and making them consume oil ? If you don't like the price, buy less. If enough people feel that way, the price will drop

But the reality is that there was sufficient demand even at current prices and the supply side is still struggling to keep up

[Colonâ„¢]

Originally posted by Peter Triggs
What are they doing with it all? They're not exactly generous with their dividends:

You do realise there are dozens of millions of outstanding shares? That's last year's dividend rate too.

[Colonâ„¢]

Actually, correct that, it's roughly 6 billion outstanding shares.

[Sava]

Originally posted by Flubber

But a basic question . . . Do you believe in the free market or not?

completely free? laissez faire?

NO... ABSOLUTELY NOT

I believe in a nicely balanced, moderately regulated form of a market economy where consumers are the ones who benefit the most.

Not this bull**** where corporations are allowed to hold us hostage and engage in obscene profiteering.

And as much as I'd like to stop buying gas, it's really not much of an option. What am I (and my family) going to do? We've already got two hybrids. But the auto manufacturers are not giving us the options.

Why doesn't the US government mandate that all cars are hybrids, for instance? Or raise the fuel efficiency standards? Because if the government mandated something like that, and consumption dropped dramatically in such a short time period, the oil companies WOULD LOSE MONEY!!!

AND OH NOES, WE CAN'T LET THAT HAPPEN... GOD FORBID WE USE LESS!!!

GOD FORBID WE GIVE PEOPLE CHOICES

NO, WE NEED TO MAKE PEOPLE USE MORE SO WE CAN HAVE RECORD PROFITS AND RAISE GAS PRICES SO WE CAN ASSRAPE PEOPLE

It's bad for the economy because it forces the prices for everything else up. Higher gas prices means increased shipping costs... that means higher costs for retail goods, groceries, etc... so everything costs more... not just gas...

So I'm glad that you like higher gas because YOU work for an oil company...

But for everyone else, and for those of us that don't get a $400 check because we live in Alberta ( ) higher gas prices are bad...

SO **** THE GAS COMPANIES... **** EXXON/MOBILE... AND **** THE GOVERNMENT (REPUBLICANS AND DEMOCRATS) because those wh0res won't do anything about it


[/rant]

[Kidlicious]

Originally posted by Flubber
Many of these companies took HUGE risks by continuing to invest in exploration and production at times when the price of oil was very low ( 1998 $12-15 dollars per barrell)-- They are getting rewarded now

Oh, they didn't put it under the matress. They must have balls of solid rock!

Also... who is holding people down and making them consume oil ? If you don't like the price, buy less. If enough people feel that way, the price will drop

But the reality is that there was sufficient demand even at current prices and the supply side is still struggling to keep up

Actually it's necessary to consume oil. I guess you lie to yourself about that.

[DanS]

Now its decision time about whether to get out.

I'd get out soon. People are starting to talk crazy prices, which leads me to believe that precisely the opposite will happen.

As somebody in the business, and honestly speaking, do you actually think oil is worth near US$70/bbl? Is it in anybody's interest to see ethanol or other alternatives actually make economic sense as substitutes?