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Consumer conditioning at its finest.

JimmyTwoTimes

Monkey
Jun 26, 2003
197
0
West Hartford
I can't believe the American public is just sitting back getting kicked in the teeth while bull**** like this happens...maybe it's me. Maybe I should accept what CNN says like it's the word of God and believe there really is an oil shortage. But then I'd be like the masses. Oil shortage? My ****ing ass. This is downright consumer conditioning and there's nothing we can do about it.:mumble:




"Exxon's $10B net a U.S. corporate record
The oil company gains from soaring oil and gas prices, but falls short of estimates.
October 27, 2005: 2:51 PM EDT

NEW YORK (Reuters) - Exxon Mobil Corp. posted a quarterly profit of $9.9 billion Thursday, the largest in U.S. corporate history, as it raked in a bonanza from soaring oil and gas prices.

Record profits for Big Oil at a time when consumers are paying sky-high prices for gasoline have brought calls for a windfall profits tax or other penalties on oil companies.

The companies have been enjoying an unusually rosy environment for months. In the third quarter, oil prices and refining margins rose sharply after hurricanes Katrina and Rita ripped through the Gulf of Mexico, disrupting energy operations in the region.

While Exxon's quarterly profit was up 75 percent from a year earlier, and revenue rose 32 percent to more than $100 billion, the results fell short of Wall Street forecasts due to production outages caused by the hurricanes and sharply lower profit at the company's chemicals division.

"They were a bit disappointing, but this a temporary phenomenon," said Paul Kuklinski, an analyst with Boston Energy Research/Soleil Securities. "This is largely attributable to hurricane effects."

Exxon (up $0.07 to $56.27, Research) shares fell slightly in midday trade.

The world's largest publicly traded oil company said net income jumped to $9.92 billion, or $1.58 a share, from $5.68 billion, or 88 cents a share, a year earlier.

Excluding a gain of $1.62 billion from restructuring its stake in a Dutch gas transportation business, earnings were $1.32 per share, six cents below the average forecast among analysts polled by First Call.

The record earnings topped the $9 billion net profit reported Thursday by Royal Dutch Shell PLC and were well above the best quarterly performances by Citigroup Inc. (Research), the world's largest bank -- $7.2 billion -- and conglomerate General Electric Co. (Research) -- $5.6 billion -- according to Reuters Fundamentals.

Expansion of capacity
In addition to calls for a windfall profits tax or other penalties, lawmakers and consumer advocates have been urging oil companies to expand refining capacity and take other steps to help bring down gasoline prices.

Energy Secretary Sam Bodman said Thursday that oil firms have a responsibility to boost refining capacity in times of record profits. Marathon Oil said it would do just that, announcing a $2.2 billion expansion of its Garyville, La., refinery.

"We're already seeing some companies yielding to pressure," said Oppenheimer & Co. analyst Fadel Gheit. "But everybody is waiting for the big lady to sing, which is Exxon."

Exxon said it did not see the point of a windfall profits tax.

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"Frankly, if you're trying to encourage supply growth, it seems odd to put in place disincentives," Henry Hubble, vice president of investor relations for Exxon, said on a conference call with analysts.

Production falls
Exxon's oil and gas production fell 4.7 percent in the third quarter from a year earlier as outages caused by Katrina and Rita, maintenance activities, and maturing fields more than offset higher production from new fields in West Africa.

Excluding the impact of the hurricanes, divestments and entitlement effects, output fell 1 percent.

Still, record crude oil prices -- which touched $70 a barrel in the quarter -- pushed earnings at its exploration and production unit to $5.73 billion, up $1.8 billion from a year earlier.

At its refining and marketing operations, profit rose to $2.13 billion, up $727 million from a year earlier. Stronger refining margins outweighed weak marketing margins and lower petroleum product sales.

Earnings at its chemicals division tumbled to $472 million, down $537 million from a year earlier, due to higher feedstock costs and lower margins.

Exxon's capital expenditures jumped to $4.41 billion from $3.63 billion a year earlier.

Shares of Exxon, the largest of the so-called "super-major" oil companies, were little changed at midday on the New York Stock Exchange. The shares rose more than 10 percent in the third quarter but underperformed the broader Standard & Poor's integrated oil and gas index, which climbed more than 13 percent."
 

DirtyDog

Gang probed by the Golden Banana
Aug 2, 2005
6,599
0
Corporate profits are all that matter in this country anymore. Line up and bend over.
 

skatetokil

Turbo Monkey
Jan 2, 2005
2,384
0
DC/Bluemont VA
Alright, here's the real problem. The government has made it very clear that it never wants a big business to fail. It would be "disruptive." So instead, it subsidizes the crap out of them and bails them out whenever they get into financial trouble.

Does anyone else see the moral hazard here? If a company gets big enough and has good enough lobbyists, it can do whatever it wants - make inferior products, refuse to innovate, gouge consumers etc. etc. - because it cannot go out of business.

In other words, end corporate welfare.
 

Secret Squirrel

There is no Justice!
Dec 21, 2004
8,153
0
Up sh*t creek, without a paddle
Wait...They posted a quarterly profit of 9.9 billion...yes, with a B, mmmm kay..but that was short of what Wall Street predicted???

I'm sorry...is everyone on the street trying to rape Americans??!!....just wondering...

Nevermind....I just answered my own question...

Buncha :oink: , if you ask me...
 
Secret Squirrel said:
Wait...They posted a quarterly profit of 9.9 billion...yes, with a B, mmmm kay..but that was short of what Wall Street predicted???

I'm sorry...is everyone on the street trying to rape Americans??!!....just wondering...

Nevermind....I just answered my own question...

Buncha :oink: , if you ask me...
There is up to $0.50 a gallon in taxes alone (depending on state), with gasoline at $1.87, refineries profit a whopping $0.47 a gallon. Now that prices have shot up to $3.00+ their profit is around $0.99 a gallon. At least the oil companies are working for their profits, it's the goverment taxes your getting raped by!!

Even at $3 a gallon, we have some of the cheapest gas in the world. Hell I think it's even cheaper that bottled water!!!

How much profit is too much? 10 billion, 10 million, 10 thousand? And who are you to say? Why should get hammered for running a (legal) profitable company?
 

Secret Squirrel

There is no Justice!
Dec 21, 2004
8,153
0
Up sh*t creek, without a paddle
PsychO!1 said:
There is up to $0.50 a gallon in taxes alone (depending on state), with gasoline at $1.87, refineries profit a whopping $0.47 a gallon. Now that prices have shot up to $3.00+ their profit is around $0.99 a gallon. At least the oil companies are working for their profits, it's the goverment taxes your getting raped by!!

Even at $3 a gallon, we have some of the cheapest gas in the world. Hell I think it's even cheaper that bottled water!!!

How much profit is too much? 10 billion, 10 million, 10 thousand? And who are you to say? Why should get hammered for running a (legal) profitable company?
I understand that we have the cheapest gas prices in the world. I also understand that they are a corporation in it to make money. I even understand the taxes on gas. (trust me, I didn't vote for the Washington ones that were stupid...)

However, that doesn't mean they can bend everyone in the country over cause they feel like it. *cough* enron *cough*
"Hey look!!! A hurricane that is going to cause a shortage!! Let's jack things so we can go to Tahiti this winter!!! AND buy the good hookers this time!!! YYYAAAAYYY!!!!"

If our taxable dollars on gas went to something remotely close to better transportation, cheaper transportation, better quality of life for everyone in this country (i.e. food...shelter...), etc., I would be much more leanient.

However, the gubment don't see things that way. Hell, it's up to other private businesses to develop the technology with their own R&D money (that takes away from their profits) while W goes and blows sh*t up elsewhere.

Might be just me and the way I was raised, but I take care of my own (family, country, etc.) before I take care of everyone else. I know...I know...I must be pie-in-the-sky high to think that executives of corporations that are richer than god would care...but philanthropy is a blessing....

If you never take a look around, you might as well be a deaf-mute, cause that's all the good you are...

I'm going to go RIDE MY BIKE HOME NOW.......that was for SS's (the other one....That's Mr. Bacon to you...) benefit....
 

JimmyTwoTimes

Monkey
Jun 26, 2003
197
0
West Hartford
SkaredShtles said:
Do you guys buy gas?

Do you?

If you do, then STFU.

Buncha goddam hypocrits.
Buy gas yes? Do I pay for it? No. I own my own business, so I get reimbursed at $0.485/mile (it's an itemized tax deduction for my corp). That still doesn't mean I don't care about the price and how my fellow American is getting RAPED while fat old white men and cartel whores in the Middle East and Central America cash in. You and many people like you believe whatever the news and government tell you/impose on you, and take it right up the ass without a thought. :stosh:
 

sam_little

Monkey
May 18, 2003
784
0
Portland, OR
Commute by bike and invest in the oil companies. Why let the gov't have all the fun when you can F**K your fellow citizen too... and get fit and well-to-do at the same time?
 

Knuckleslammer

took the red pill
JimmyTwoTimes said:
Buy gas yes? Do I pay for it? No. I own my own business, so I get reimbursed at $0.485/mile (it's an itemized tax deduction for my corp). That still doesn't mean I don't care about the price and how my fellow American is getting RAPED while fat old white men and cartel whores in the Middle East and Central America cash in. You and many people like you believe whatever the news and government tell you/impose on you, and take it right up the ass without a thought. :stosh:

clap clap clap clap clap
 

SkaredShtles

I love NEWCASTLE and will ONLY drink NEWCASTLE!!!!
Sep 21, 2003
51,306
4,451
In a van.... down by the river
JimmyTwoTimes said:
Buy gas yes? Do I pay for it? No. I own my own business, so I get reimbursed at $0.485/mile (it's an itemized tax deduction for my corp). That still doesn't mean I don't care about the price and how my fellow American is getting RAPED while fat old white men and cartel whores in the Middle East and Central America cash in. You and many people like you believe whatever the news and government tell you/impose on you, and take it right up the ass without a thought. :stosh:
So for personal travel you are f**king the rest of us? Is that what you're saying? If so, thanks a *bunch* :rolleyes:
 

Secret Squirrel

There is no Justice!
Dec 21, 2004
8,153
0
Up sh*t creek, without a paddle
SkaredShtles said:
Give me a break. Do you buy gas? It's a simple question. :rolleyes:
:devil: It's not so simple though. Yes I buy gas...but then so does everyone. Unless you live in a home that you built yourself, and you use only things that you yourself have made, eat only what you yourself catches, etc. can you claim to be free of hypocracy. Do you buy tires for your bike? I know I do. Well, there's some petroleum right there. Do you buy food from a store? Well, you're paying someone (even fractionally) to ship it to the store where you become the end-user....

Hmmm...pot calling the kettle black comes to mind...but maybe that's just me being dense early on a Friday...at work....to pay for the gas that I have to buy to go for a good offroad ride....sigh...

Cheer up though, hypocrit has crit in it...and that's bike related!!:D :D

Happy Friday, SS!!:dancing: :thumb: :p
 

SkaredShtles

I love NEWCASTLE and will ONLY drink NEWCASTLE!!!!
Sep 21, 2003
51,306
4,451
In a van.... down by the river
Secret Squirrel said:
:devil: It's not so simple though. Yes I buy gas...but then so does everyone. Unless you live in a home that you built yourself, and you use only things that you yourself have made, eat only what you yourself catches, etc. can you claim to be free of hypocracy. Do you buy tires for your bike? I know I do. Well, there's some petroleum right there. Do you buy food from a store? Well, you're paying someone (even fractionally) to ship it to the store where you become the end-user....

Hmmm...pot calling the kettle black comes to mind...but maybe that's just me being dense early on a Friday...at work....to pay for the gas that I have to buy to go for a good offroad ride....sigh...

Cheer up though, hypocrit has crit in it...and that's bike related!!:D :D

Happy Friday, SS!!:dancing: :thumb: :p
Ummmm......... nowhere in my posting will you find any evidence of me claiming that I don't buy/use gas.

Nowhere.

I'm calling out the self-proclaimed righteous amongst us to step up to the plate if they're so inclined.
 

Ridemonkey

This is not an active account
Sep 18, 2002
4,109
0
Toronto, Canada
What a lot of people forget is that gas prices don't just affect those who drive. If you bought a jug of milk this week you've been affected. The prices affect the distribution of all the crap we consume, so everyone is affected.

I don't have a problem with a company making a profit, but don't blame it natural disasters and wars, if it was costing them more to produce then raising prices would simply balance them out...they're making MORE money than they used to.
 

boostindoubles

Nacho Libre
Mar 16, 2004
4,494
2,091
Yakistan
SkaredShtles said:
Do you guys buy gas?

Do you?

If you do, then STFU.

Buncha goddam hypocrits.
talk about self-righteous. your comment is like saying that even though its a bad situation, and gas is ridiculously priced, that those who have to buy gas to commute are stupid for complaining and should accept the fact that theyre getting raped, with a smile on their face no less.

I dont see how complaining about grossly overinflated gas prices makes any gas buyers a hypocrite. :think::oink:
 

SkaredShtles

I love NEWCASTLE and will ONLY drink NEWCASTLE!!!!
Sep 21, 2003
51,306
4,451
In a van.... down by the river
boostindoubles said:
talk about self-righteous. your comment is like saying that even though its a bad situation, and gas is ridiculously priced, that those who have to buy gas to commute are stupid for complaining and should accept the fact that theyre getting raped, with a smile on their face no less.

I dont see how complaining about grossly overinflated gas prices makes any gas buyers a hypocrite. :think::oink:
And how, pray tell, have you arrived at the conclusion that gas is "grossly overinflated"? Have you seen that it's below $2 in Texas?

Maybe, just *maybe* gas price is set by supply and demand?

I have to buy gas to commute - and you know what? I've had to change the way I do it so the impact of the gas price is lessened. I carpool now and when the weather is conducive I've been riding my bike.

Sometimes the pissing and moaning just gets tiresome. You know what - if you don't like what's going on DO SOMETHING ABOUT IT.

Seems simple enough, no?
 

Secret Squirrel

There is no Justice!
Dec 21, 2004
8,153
0
Up sh*t creek, without a paddle
SkaredShtles said:
And how, pray tell, have you arrived at the conclusion that gas is "grossly overinflated"? Have you seen that it's below $2 in Texas?

Maybe, just *maybe* gas price is set by supply and demand?

I have to buy gas to commute - and you know what? I've had to change the way I do it so the impact of the gas price is lessened. I carpool now and when the weather is conducive I've been riding my bike.

Sometimes the pissing and moaning just gets tiresome. You know what - if you don't like what's going on DO SOMETHING ABOUT IT.

Seems simple enough, no?
Are the windows in you van down by the river rose colored??;)
 

boostindoubles

Nacho Libre
Mar 16, 2004
4,494
2,091
Yakistan
well your right, ss. Maybe the times i remember buying gas at less than a buck a gallon, (i'm only 21) gas prices were grossly underinflated. Who's to say its overinflated. And i do what i can about it. I ride my bike everywhere, and drive with the ac off and the windows up. ;)

i also happen to live where i work and leave the farm maybe 1 or two days out of the week. i probably buy a tank of gas every three weeks. And i think thats complaining about the gas prices is better than not saying anything about it. what would have happened if Rosa Parks(R.I.P) would have never stood up for herself on that bus?
 

SkaredShtles

I love NEWCASTLE and will ONLY drink NEWCASTLE!!!!
Sep 21, 2003
51,306
4,451
In a van.... down by the river
boostindoubles said:
well your right, ss. Maybe the times i remember buying gas at less than a buck a gallon, (i'm only 21) gas prices were grossly underinflated. Who's to say its overinflated. And i do what i can about it. I ride my bike everywhere, and drive with the ac off and the windows up. ;)
Look up the data. Gas is still historically pretty damn cheap.

i also happen to live where i work and leave the farm maybe 1 or two days out of the week. i probably buy a tank of gas every three weeks. And i think thats complaining about the gas prices is better than not saying anything about it. what would have happened if Rosa Parks(R.I.P) would have never stood up for herself on that bus?
So you are comparing the price of gas to the Civil Rights movement? :confused: I don't even know how to respond that that......
 

boostindoubles

Nacho Libre
Mar 16, 2004
4,494
2,091
Yakistan
yea it was out in left field. came to mind all the sudden that gas price control is completely out of our hands and we are like puppets on string. If we dont complain about it and get our voices out in the air its gonna continue to rollarcoaster around and never get better.

which is like civil rights. If people didnt stand up and get their voices out life didnt change.
 

JimmyTwoTimes

Monkey
Jun 26, 2003
197
0
West Hartford
Ridemonkey said:
What a lot of people forget is that gas prices don't just affect those who drive. If you bought a jug of milk this week you've been affected. The prices affect the distribution of all the crap we consume, so everyone is affected.

I don't have a problem with a company making a profit, but don't blame it natural disasters and wars, if it was costing them more to produce then raising prices would simply balance them out...they're making MORE money than they used to.
Well stated. But some people just don't get how serious of an impact this will likely have on the economy in the mid to long term. Instead in their world, everything happens for a reason and it must be right juuust the way it is. After all, CNN says so. (sniff, sniff......is that bacon?)

Question - since when do hurricanes cause oil shortages? I feel like this is the first year I ever heard that. Heh....creative propoganda. :nuts:
 

narlus

Eastcoast Softcore
Staff member
Nov 7, 2001
24,638
26
behind the viewfinder
JimmyTwoTimes said:
Question - since when do hurricanes cause oil shortages? I feel like this is the first year I ever heard that. Heh....creative propoganda. :nuts:
when they take out a large percentage of refinery capabililty, and interfere w/ distribution channels, then yes - supply is affected. it's not the "oil shortage" it's the "refined oil product" shortage.
 

Knuckleslammer

took the red pill
I can't wait for it to go up to $5 a gallon. The economy is going to TANK and this administration will have been known as the worst administration in US HISTORY.

However, I don't care, I'm ready. BRING IT. I'm all set, I got

and

and

and best of all, I got at least 100 of these. FULL

and about 200 of them there yellow ones 40's :D


I'M ALL SET FOR THE END. ARE YOU? :mumble: