Exxon Mobil Quarterly Profit Sets U.S. Record

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5 Responses

  1. You do realize that until very recently Starbucks had a higher profit margin that Exxon Mobile and nobody screamed about Big Coffee or threatened windfall profit taxes?

    You do realize that Exxon Mobile’s profit margin is only approx. 10%?

    I know it’s hard to get past the raw numbers since they seem so huge, but the entire Energy Sector is fairly closely inline with the rest of the S&P Index when it comes to profit margins.

  2. You do realize that for most people, coffee is a luxury and gas is a necessity. And that the war in Iraq is a war for oil. And that oil companies are getting subsidized by our tax dollars. And that the high cost of oil is destroying our economy, causing inflation, and causing a great deal of pain and suffering.

  3. I will dispute that Iraq is about oil, but I won’t dispute tht the oil companies have capitalized on it with the collusion of our government. That’s immaterial though.

    What’s important is that you can’t punish an industry for being profitable. If you take the subsidies away from “Big Oil” you will only succeed in raising gas prices because these are publicly held companies beholden to their stockholders. They’re not even that profitable companies when you look at the margins.

    Yeah, there’s a HUGE issue, but the oil companies aren’t the ones causing the majority of the problem.

  4. I’m happy for all of the people who have stock in the oil companies. For some people their stock options and profit sharing plans are their main retirement funds. It’s good for them if their companies make money.

    I’m also happy for all those employees who have jobs because their companies are succeeding. Lots of people would be out of work if the oil companies were going bankrupt or having to downsize. Just think of all the money that Exxon Mobil employees are spending to keep the economy going (at Starbucks, even).

  5. The oil companies used to use their profits for exploration and drilling. They have plenty of existing leases that can be used for new rigs, but it’s now more profitable for them to keep the supply low.

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