Exxon made PROFIT at the rate of $1500 a SECOND

[TheViking]

In the time it took you to read the thread title Exxon made $1500...

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.

That profit works out to $1,485.55 a second.

That barely beat the previous corporate record of $11.66 billion, also set by Exxon in the fourth quarter of 2007.
 
 
Feel free to get pissed now.

[dkutz]

There is a surprise!  NOT!  Look I am not into politics and I do pretend to be an expert, but isn't Bush come from the oil business?  Seems to me nothing will change until that influence is out.  Maybe new blood will begin to audit the oil firms and see how much they are really gouging the american people.

I will now step off the soap box

[Dee4j]

all I have to say is... :swear:  :swear:  :swear:  :swear:

[coach]

In the time it took you to read the thread title Exxon made $1500...

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.

That profit works out to $1,485.55 a second.

That barely beat the previous corporate record of $11.66 billion, also set by Exxon in the fourth quarter of 2007.
 
 
Feel free to get pissed now.

Why would I get pissed when a company is profitable?

Thanks for the information, I regret your editoral comment!

[CajunCamper]

I don't own Exxon stock, I don't work for Exxon, I don't like paying $4.00 a gallon but let's look at  few things here.

On a gallon of gas Exxon makes about 8% profit. That's .32 cents per gallon at $4.00 a gallon.

The average tax on a gallon of gas including state local and federal is somewhere around conservatively speaking .39 cents per gallon.

One guy makes .32 cents per gallon after he found the oil, drilled for the oil, builds refineries, refined the oil and produced the gasoline, transports the gasoline so we have gas at our finger tips, jumps through a bunch of federal hoops to accomplish this and you're mad at him.

The other guy makes .39 cents a gallon for sitting on his butt and collecting the tax money and you don't have a problem with him.

I'm a bit confused. Don't we live in a capitalist society.

I own my own business and I promise you I make more than 8% profit on my companies total revenue, does that make me a bad guy?

We have a congress that will not allow a vote to come to the floor to remove a ban on offshore drilling that would begin to diminish our dependence on foriegn oil. Shouldn't we be pissed at them for keeping us in this situation?

Here in Louisiana there are oil wells that were drained dry 25 year ago and capped. Most of those capped oil wells are in what is now, protected natural wetlands. They monitor these wells on a regular basis and many of the wells are once again as full of oil today as they were when they were first drilled proving that the oil well is fed by a much deeper reservoir of oil. Common sense would say, well go open those wells back up and get the oil. But now that it has been proclaimed natural wetland, these sources are off limits. They don't have to drill for this oil, all they have to do is turn the faucet back on. This should piss you off.

This is just the tip of the iceburg.

When we start getting pissed at Companies and Corporations for making record profits we are sliding down a dangerous slope. I have owned my own business for three years and each year since I started my business I have set new revenue and profit records. That my friend is the American Way.

CajunCamper

[JimS]

Well said CajunCamper.  I also own my own business.  I would love to see an 8% profit.

[CajunCamper]

Unless my math is wrong $1500 per second works out to about $47.17 Billion. It their profit was $11.68 Billion then they would be making $371.39 per second. A lot different than $1500 per second. Now that should make you alot less pissed.

CajunCamper

[fourkids]

Just another reason for you to stop watching CNN and the rest of the agenda driven, liberal media.  The real story that CNN buried is that although Exxon posted 11.68 Billion in profits, they paid 32.36 BILLION IN TAXES.  In other words for every $1 in profit they made, they paid $3 in taxes.  Now that is something to be outraged about.  Go Exxon!  Go Capitalism!  

http://mjperry.blogspot.com/
http://www.businesswire.com/portal/site/exxonmobil/index.jsp?ndmViewId=news_view&ndmConfigId=1001106&newsId=20080731005690&newsLang=en

[aw738]

Profit, either big or small is not an EVIL thing. This countries problems could be solved if we all realized the quote in my signature.

[AZsix]

I'm not against anyone making money. Companies need to make money to stay in business. However, I am sick of hearing the oil companies tell us that they are just "passing along" the cost.  :Z   If they are passing it along how do they manage such huge profits?  :mad:  The reason that most people get pissed is because they have us over a barrel (no pun intended) because they sell something we need. Everything in our daily lives is effected by gas prices. Prices rise on just the threat of a storm coming near a refinery or a plant shutting down for routine maintenance. Remember back in the 70's when the only time gas prices rose was when OPEC raised prices? I'm sorry but you won't find any sympathy for the oil companies coming from me.

[pistonslap]

There is a surprise! NOT! Look I am not into politics and I do pretend to be an expert, but isn't Bush come from the oil business? Seems to me nothing will change until that influence is out. Maybe new blood will begin to audit the oil firms and see how much they are really gouging the american people.

I will now step off the soap box

Let me step on the soap box.
The new blood you speak of wants americans to pay into the U.N. poverty fund to the tune of 345 billion taxpayer dollars over the next 13 yrs. He also is hinting about taxpayer money for reparations for slavery and also there's talk of reparations for Al Queda held in Gitmo. I'd rather pay the oil companies.

[ScouterMom]

'We have a congress that will not allow a vote to come to the floor to remove a ban on offshore drilling that would begin to diminish our dependence on foriegn oil. Shouldn't we be pissed at them for keeping us in this situation?

Here in Louisiana there are oil wells that were drained dry 25 year ago and capped. Most of those capped oil wells are in what is now, protected natural wetlands. They monitor these wells on a regular basis and many of the wells are once again as full of oil today as they were when they were first drilled proving that the oil well is fed by a much deeper reservoir of oil. Common sense would say, well go open those wells back up and get the oil. But now that it has been proclaimed natural wetland, these sources are off limits. They don't have to drill for this oil, all they have to do is turn the faucet back on. This should piss you off.'

yes, we should be pissed -

I'm a camper, therefore, I am also a conservationist.  I want to see our natural resources  protected, but not if it means I can't afford to get to work and support my family.  I think bei ng able to afford food and shelter for my family is more important than protecting food and shelter for rodents and mosquitos-or even eagles or owls - especially when there are ways of getting to that oil that really won't disturb that habitat significantly anyway!

I'm admittedly not as well versed in politics or all the issues as I should be. I have no idea how to solve the complicated mess we have allowed ourselves to get into. But I am an election judge for my precinct, and I can tell you that even in our primary election less than 30% of our registered voters showed up to vote. (and that was with a school tax issue on our local ballot, which usually draws extra voters !)  That doesn't count even more people who COULD be registered and don't bother.

It's my opinion that unless you make an effort to change things - not by complaining, but by VOTING  - you are not entitled to complain.  Apathy is what is killing our country. Not Bush.  He's just our duly elected representative, and WE put him there.

Laura

[AZsix]

Not Bush.  He's just our duly elected representative, and WE put him there.

Laura

He's not helping and please don't include me in the "WE". Some of YOU put him there.

The thing that gets me is we are paying record prices for gas and the oil companies are making record profits. If they are doing no more than passing the cost along then what are they now doing right that they weren't when the price was lower??

[sacrawf]

In the time it took you to read the thread title, how much did federal, state, and local governments spend of our consfiscated wealth in the form of taxes (income, sales, capital gains, estate, excise, gasoline, tobacco and liquour) and fees (tolls, licenses, campground fees).  That is what we should be outraged over.  

In the time it took you to read the thread title Exxon made $1500...

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.

That profit works out to $1,485.55 a second.

That barely beat the previous corporate record of $11.66 billion, also set by Exxon in the fourth quarter of 2007.
 
 
Feel free to get pissed now.

[wavery]

It makes me sad......
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That I din't buy oil stock 6 years ago :banghead: