http://news.yahoo.com/s/ap/20081030/ap_on_bi_ge/earns_exxon_mobil
In this economy is that what we want to see or even should be seeing?
No, I don’t play in the stock market it is a gamble I choose not to take.
supply and demand is different. This is take from the poor countries and give to themselves and shove it to the public that has no choice in fueling their cars and heating their houses.
Why should they gouge just to make excessive profit?
Because they are part of the crime cartel controlled by the government.
How about this for an idea, if we have nationalized the worst banks why don’t we nationalize Exxon?
I think it has to do with them charging over $4 a gallon for gas during most of the 3rd quarter.
Those guys are the biggest theives around. In no other industry can you see a company make their biggest profits ever at the same time the cost of their raw materials are skyrockting. This has got to be a case of price fixing. There is no other explanation.
Because they made a lot of money?
supply and demand. As long as people are willing to buy their product, and there’s a big demand for it, and they’re very efficient and productive, they’ll do well.
Kewl. I own some of that stock. Most people probably own some in their 401ks and don’t even know it. Maybe even you! So, you are benefitting.
Yes, if you own any mutual funds in a retirement fund, you most likely own an oil stock. Look at your prospectus!
This argument that oil companies are making excessive profits is a snooze.
Why should a business reduce their earnings because the economy is not good?
Volume has went up as well as the cost of production due to the additional refining because of environmental regulations.
Also, if the profit margin stays the same then the volume of fuel sold will dictate the profits.
Example:
1 Gal of fuel sold = 1.00 + profit (10%) = $1.10
5 Gals. of fuel sold = 5.00 + profit (10%) = $5.50
Therefore they will have made $.40 more profit than selling one gallon.
Essentially the more you sell the more profit you make. Besides, fuel is not the only thing made from crude oil. It is actually only a small percentage of what is made from the refining of raw oil.