Exxon Posts Record Profits ($39.5B, Largest In U.S. History)

[sabra]

http://www.cbsnews.com/stories/2007/02/01/business/main2420505.shtml

Exxon Posts Record Profits
Oil Giant Reports 2006 Profits Of $39.5B, Largest In U.S. History

(AP) Oil giant Exxon Mobil Corp. on Thursday posted the largest annual profit by a U.S. company — $39.5 billion — even as earnings for the last quarter of 2006 declined 4 percent.

The 2006 profit topped the previous record of $36.13 billion which Exxon set in 2005.

Revenue at the world's largest publicly traded oil company rose to $377.64 billion for the year, surpassing the record $370.68 billion that Exxon posted in 2005.

Exxon Mobil's record annual earnings followed a year of extraordinarily high energy prices as crude oil topped $78 a barrel in the summer — driving up average gasoline prices in the United States to more than $3 a gallon. Prices retreated later in the year.

[ThomCat]

1. Every subsidy they get should be cancelled

retroactively. There is no way in hell that a company with billions of dollars in profits needs even a penny in subsidies. That's just theft.
x(

[toopers]

18. Yep, and who do you think will pay that subsidy, again?

We will. We pay it now through taxes, but you want to force it onto all the people who buy gas.

[liberal N proud]

2. Now we know where FORD's money went

As well and your's and mine and every other American who owns one or more vehicles and are forced to pay ransom to these crooks.

[flair2000]

4. Exactly

Thousands and thousands of people are out of work and millions more are struggling to get by because of these assholes.

[Giant Robot]

3. Oddly enough I am not surprised

And here I am making LESS money than I did last year and being told no raises are in sight. No more subsidies for those fuckers!

[TexasLawyer]

5. Laughing all the way to the bank!

[KansDem]

10. "Iraq war has been very, very good to me!"

:grr::mad:::grr::mad::grr:

[DeepModem Mom]

6. NYT: Exxon Sets Record on Annual Profits: Largest ever for an American company

Exxon Sets Record on Annual Profits
By CLIFFORD KRAUSS
Published: February 1, 2007

HOUSTON, Feb. 1 — Exxon Mobil reported a record annual profit on Thursday but a modest decline in fourth-quarter earnings because of falling oil and gas prices. Meanwhile, its competitor Royal Dutch Shell reported an unexpected rise in quarterly earnings, a sign that the industry is still going strong.

The results followed reports by other energy companies in recent days that said easing commodity prices, declining refining and chemical earnings, rising steel and labor costs and higher royalties and taxes had hurt their bottom lines somewhat.

But the shortfalls at all the major companies, including Occidental, ConocoPhillips and Hess, have come after record or near-record previous quarters. With oil and gas prices on the upswing again in recent days, few analysts think the bonanza of profits that energy companies have enjoyed in recent years will end anytime soon.

Exxon, the world’s largest publicly traded oil company, reported profit of $10.3 billion in the fourth quarter. That represented a decline of 4.3 percent from its record profit in the fourth quarter of 2005 and was Exxon’s first quarterly decline in almost three years.

But for the year, Exxon’s profit rose 9 percent from 2005 results to a record of $39.5 billion, the largest annual profit ever for an American company....

http://www.nytimes.com/2007/02/01/business/01cnd-exxon.html?hp&ex=1170392400&en=3692bbfc6cad7766&ei=5094&partner=homepage

[LiberalEsto]

7. And that's why our savings rate is so low

We've been paying close to $4 for gas and there's nothing left to put in the piggybank.

[gratuitous]

8. What if, when you went to gas up

You filled your tank not with refined petroleum products, but the actual blood and bones of the victims of Big Oil? What would happen? Would we be revolted? Would we eventually get used to it? Would we shrug and note that we got 23 mpg on that last tank, up from 21 mpg?

[LynnTheDem]

9. And it only cost 32,000 US casualties.

And 1,000,000+ Iraqi casualties.

And $US billions of our money.

And our reputation around the entire world for the next several generations.

And made us all so less safe it's unfuckingbelievable.

But hey, CONGRATS, EXXON! Send your gratitude to the one who hmade it possible...GEORGE W. bUSH, Oil pResident!

[Harper_is_Bush]

16. Those fucking assholes. May they rot in hell. n/t

[brettdale]

11. look at all the money us oil guys made

Who gives a fuck about dead Iraqi babies, Im buying an island!

[eppur_se_muova]

12. Good times for Shell, too. (link)

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=102&topic_id=2712963&mesg_id=2712963

[classysassy]

13. Come now,give those guys a hand an another tax break.

or they will raise the price of gas.

[harpboy_ak]

14. Then WHY won't they pay Alaska fishermen?

They keep fighting the REDUCED punitive damages awarded 12 years ago to Alaskan fishermen, villages, property owners, and the State of Alaska for the Exxon Valdez oil spill!

IMHO their company should be shut down until they pay up!

Time to send Exxon a reminder:

1) get an old bait herring out of your freezer.

2. put it in a foodsaver(tm) bag, and add a couple of tablespoons of waste oil from your last oil change

3. seal the bag shut with your foodsaver(tm), BUT DON'T USE THE VACUUM, just heat seal it

4. package in a padded envelope along with a note that says PAY YOUR PUNITIVE DAMAGES! and mail to Exxon.

[Patriought]

15. And here's what they're spending it on...

Read this story, it's important.

From the Guardian UK

http://www.guardian.co.uk/Environment/climatechange/story/0,,2004397,00.html





Scientists and economists have been offered $10,000 each by a lobby group funded by one of the world's largest oil companies to undermine a major climate change report due to be published today.

Letters sent by the American Enterprise Institute (AEI), an ExxonMobil-funded thinktank with close links to the Bush administration, offered the payments for articles that emphasise the shortcomings of a report from the UN's Intergovernmental Panel on Climate Change (IPCC).

(snip)

[Harper_is_Bush]

17. Those fucking assholes. May they rot in hell. n/t

[tabasco]

19. It's just a coincidence that the US Army is sitting on top of the world's #2 oil reserves.

Really. Just a co-inky-dink. Control of that oil has had no effect on prices. It's bad weather and other stuff that made prices go up. really. Would I lie to you?