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Author Topic: Profits of $39.6 Billion in 2006  (Read 1910 times)

240 is Back

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Profits of $39.6 Billion in 2006
« on: February 01, 2007, 06:02:25 AM »
Exxon Mobil.

A record, of course.

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OzmO

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Re: Profits of $39.6 Billion in 2006
« Reply #1 on: February 01, 2007, 08:47:56 AM »
But there is no evidence that suggests, direct or indirect, that we are profiting from the iraq invasion! (I'm being sarcastic  ;D)
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ieffinhatecardio

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Re: Profits of $39.6 Billion in 2006
« Reply #2 on: February 01, 2007, 08:58:07 AM »
Quote from: 240 is Back on February 01, 2007, 06:02:25 AM
Exxon Mobil.

A record, of course.



Are these profits out of line with the typical Exxon Mobil annual profit?

If so what is the cause of this profit?

What's your point?

Didn't Congress try to pass a bill that would tax the massive profits oil companies have experienced the last couple of years?
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Rearden Metal

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Re: Profits of $39.6 Billion in 2006
« Reply #3 on: February 01, 2007, 08:59:53 AM »
That's just one quarter, Rob.
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Rearden Metal

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Re: Profits of $39.6 Billion in 2006
« Reply #4 on: February 01, 2007, 09:00:43 AM »
Nevermind, it's annual, I read the report wrong.
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Diesel1

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Re: Profits of $39.6 Billion in 2006
« Reply #5 on: February 01, 2007, 09:10:08 AM »
I could retire on that
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240 is Back

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Re: Profits of $39.6 Billion in 2006
« Reply #6 on: February 01, 2007, 09:26:25 AM »
Record year for any US corporation.

In a year where gas prices were low!

Just a coincidence that we're in Iran, and all.




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Camel Jockey

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Re: Profits of $39.6 Billion in 2006
« Reply #7 on: February 01, 2007, 10:05:15 AM »
More demand for oil = higher profits  ??? And wasn't the 40 billion in a quarter where gas prices where at their highest in '06.
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240 is Back

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Re: Profits of $39.6 Billion in 2006
« Reply #8 on: February 01, 2007, 10:10:39 AM »
nah, the market was flooded with oil in the second half of 2006.  OPEC cut production but refineries were overburdened with (i'd guess) pilfered iraqi oil. 

global warming meant a warm winter, and the saudis are still sitting on a surplus.  jan 30 they cut output levels again cause they're getting raped in the market.

USA is becoming more and more powerful in the oil game ;)
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24KT

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Re: Profits of $39.6 Billion in 2006
« Reply #9 on: February 02, 2007, 01:31:50 PM »
According to the US - Gov.t, we've most likely hit rock-bottom on oil prices

http://www.alertnet.org/thenews/newsdesk/N31204564.htm
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a_joker10

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Re: Profits of $39.6 Billion in 2006
« Reply #10 on: February 02, 2007, 01:43:04 PM »
Quote from: 240 is Back on February 01, 2007, 10:10:39 AM
nah, the market was flooded with oil in the second half of 2006.  OPEC cut production but refineries were overburdened with (i'd guess) pilfered iraqi oil. 

global warming meant a warm winter, and the saudis are still sitting on a surplus.  jan 30 they cut output levels again cause they're getting raped in the market.

USA is becoming more and more powerful in the oil game ;)

The price is still inflated.

America is increasing their energy reserves even though OPEC is cutting production.
http://www.fe.doe.gov/programs/reserves/
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24KT

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Re: Profits of $39.6 Billion in 2006
« Reply #11 on: February 02, 2007, 01:51:52 PM »
Quote from: a_joker10 on February 02, 2007, 01:43:04 PM
The price is still inflated.

America is increasing their energy reserves even though OPEC is cutting production.
http://www.fe.doe.gov/programs/reserves/

They've got no choice. They didn't top up the SPR after Katrina, and that was after having distributed millions of barrels of oil out of it. To leave it empty, ...especially with their plans to step up activities in the Gulf would be just plain suicidal. I know some people have a tendency to shoot themselves in the foot, ...but even I can't believe he would be so stupid and so myopic as to leave the SPR low while ramping up activities.
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a_joker10

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Re: Profits of $39.6 Billion in 2006
« Reply #12 on: February 02, 2007, 02:07:31 PM »
Quote from: jaguarenterprises on February 02, 2007, 01:51:52 PM
They've got no choice. They didn't top up the SPR after Katrina, and that was after having distributed millions of barrels of oil out of it. To leave it empty, ...especially with their plans to step up activities in the Gulf would be just plain suicidal. I know some people have a tendency to shoot themselves in the foot, ...but even I can't believe he would be so stupid and so myopic as to leave the SPR low while ramping up activities.

They are going to double the reserve 1.5 billion barrels. Not including other strategic resources like their oil shale.

They already have 752 million barrels in strategic reserve.
Fort mac will be pumping 5 million barrels a day in 20 years and 20% of oil consumption will be replaced by ethanol and biodiesel, America will not be importing from outside the Northern Hemisphere.
When this happens the oil market will look a lot different then it does now.
It seems to me that Bush is hiding his master plan of decoupling American energy dependence from the rest of the World.
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240 is Back

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Re: Profits of $39.6 Billion in 2006
« Reply #13 on: February 02, 2007, 03:44:24 PM »
This is going according to plan, people.  Once we have a nice reserve, they no longer control the price.  And owning iraq and afghanistan assures our reserve only grows. 
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24KT

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Re: Profits of $39.6 Billion in 2006
« Reply #14 on: February 03, 2007, 06:08:56 AM »
Quote from: a_joker10 on February 02, 2007, 02:07:31 PM
They are going to double the reserve 1.5 billion barrels. Not including other strategic resources like their oil shale.

They already have 752 million barrels in strategic reserve.
Fort mac will be pumping 5 million barrels a day in 20 years and 20% of oil consumption will be replaced by ethanol and biodiesel, America will not be importing from outside the Northern Hemisphere.
When this happens the oil market will look a lot different then it does now.
It seems to me that Bush is hiding his master plan of decoupling American energy dependence from the rest of the World.

There is not enough oil in the Northern hemisphere to accomplish this goal.

It costs $1.50 to extract $1 worth of oil from the tar sands,
and requires ripping up 4 tonnes of land simply to yield 1 barrel of oil.

America and the rest of the world will be dependant on foreign oil for some time to come.

The move towards greater use of ethanol is wreaking havoc in some economies.
The demand for corn derived ethanol has pushed tortilla prices through the roof in Mexico.
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