Comments on: A Great Day For The Economy: Exxon-Mobil Posts Record Profit http://www.thelibertypapers.org/2008/02/01/a-great-day-for-the-economy-exxon-mobil-posts-record-profit/ Life. Liberty. Property. Defending individual freedom and liberty, one post at a time. Thu, 18 Mar 2010 23:29:23 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: Brian T. Traylor http://www.thelibertypapers.org/2008/02/01/a-great-day-for-the-economy-exxon-mobil-posts-record-profit/#comment-51206 Brian T. Traylor Sat, 02 Feb 2008 21:42:36 +0000 http://www.thelibertypapers.org/2008/02/01/a-great-day-for-the-economy-exxon-mobil-posts-record-profit/#comment-51206 Putting Exxon's tax bill in perspective: http://mjperry.blogspot.com/2008/02/putting-exxons-tax-bill-in-perspective.html Putting Exxon’s tax bill in perspective:

http://mjperry.blogspot.com/2008/02/putting-exxons-tax-bill-in-perspective.html

]]> By: Amyz http://www.thelibertypapers.org/2008/02/01/a-great-day-for-the-economy-exxon-mobil-posts-record-profit/#comment-51195 Amyz Sat, 02 Feb 2008 15:45:12 +0000 http://www.thelibertypapers.org/2008/02/01/a-great-day-for-the-economy-exxon-mobil-posts-record-profit/#comment-51195 I have no problem with Exxon (or Citgo) making huge profits, yet I would also like to see the distributor (gas stations) make their fair share. Gas stations have become nothing more than tax collectors! With the spike in gas prices they are not seeing the same profits from convenience items. I have no problem with Exxon (or Citgo) making huge profits, yet I would also like to see the distributor (gas stations) make their fair share. Gas stations have become nothing more than tax collectors! With the spike in gas prices they are not seeing the same profits from convenience items.

]]> By: Brian T. Traylor http://www.thelibertypapers.org/2008/02/01/a-great-day-for-the-economy-exxon-mobil-posts-record-profit/#comment-51182 Brian T. Traylor Sat, 02 Feb 2008 05:21:55 +0000 http://www.thelibertypapers.org/2008/02/01/a-great-day-for-the-economy-exxon-mobil-posts-record-profit/#comment-51182 The also paid $30b in taxes, probably also a record. http://mjperry.blogspot.com/2008/02/highest-corporate-tax-bill-in-us.html The also paid $30b in taxes, probably also a record.

http://mjperry.blogspot.com/2008/02/highest-corporate-tax-bill-in-us.html

]]> By: Jeff Molby http://www.thelibertypapers.org/2008/02/01/a-great-day-for-the-economy-exxon-mobil-posts-record-profit/#comment-51121 Jeff Molby Fri, 01 Feb 2008 18:31:33 +0000 http://www.thelibertypapers.org/2008/02/01/a-great-day-for-the-economy-exxon-mobil-posts-record-profit/#comment-51121 <blockquote>I’m sure that never happens.</blockquote> Yeah, I gotta quit buying into all these conspiracies.

I’m sure that never happens.

Yeah, I gotta quit buying into all these conspiracies.

]]> By: UCrawford http://www.thelibertypapers.org/2008/02/01/a-great-day-for-the-economy-exxon-mobil-posts-record-profit/#comment-51116 UCrawford Fri, 01 Feb 2008 17:55:47 +0000 http://www.thelibertypapers.org/2008/02/01/a-great-day-for-the-economy-exxon-mobil-posts-record-profit/#comment-51116 What, you mean like getting exclusive contracts to do oilwork in Iraq under the premise of "reconstruction" because of their access to politicians in the coalition governments, thereby squeezing out competition from smaller local entities? http://www.iraqoccupationfocus.org.uk/resources/shell_factsheet.pdf I'm sure that never happens. What, you mean like getting exclusive contracts to do oilwork in Iraq under the premise of “reconstruction” because of their access to politicians in the coalition governments, thereby squeezing out competition from smaller local entities?

http://www.iraqoccupationfocus.org.uk/resources/shell_factsheet.pdf

I’m sure that never happens.

]]> By: Jeff Molby http://www.thelibertypapers.org/2008/02/01/a-great-day-for-the-economy-exxon-mobil-posts-record-profit/#comment-51114 Jeff Molby Fri, 01 Feb 2008 17:47:47 +0000 http://www.thelibertypapers.org/2008/02/01/a-great-day-for-the-economy-exxon-mobil-posts-record-profit/#comment-51114 As long as the profits were earned honestly, more power to them. With the current administration, though, it's hard not to wonder if they received any favors. As long as the profits were earned honestly, more power to them. With the current administration, though, it’s hard not to wonder if they received any favors.

]]> By: Justin Bowen http://www.thelibertypapers.org/2008/02/01/a-great-day-for-the-economy-exxon-mobil-posts-record-profit/#comment-51113 Justin Bowen Fri, 01 Feb 2008 17:43:33 +0000 http://www.thelibertypapers.org/2008/02/01/a-great-day-for-the-economy-exxon-mobil-posts-record-profit/#comment-51113 Okay, I saw the problem. That said, I'm still in much better shape. The math still applies but I simply need to remind myself about how many months are in a year (which is funny since I tutor elementary school kids in math). Okay, I saw the problem. That said, I’m still in much better shape. The math still applies but I simply need to remind myself about how many months are in a year (which is funny since I tutor elementary school kids in math).

]]> By: Justin Bowen http://www.thelibertypapers.org/2008/02/01/a-great-day-for-the-economy-exxon-mobil-posts-record-profit/#comment-51110 Justin Bowen Fri, 01 Feb 2008 17:32:15 +0000 http://www.thelibertypapers.org/2008/02/01/a-great-day-for-the-economy-exxon-mobil-posts-record-profit/#comment-51110 Sorry, that should have been "What I can't wait for now". Sorry, that should have been “What I can’t wait for now”.

]]> By: Justin Bowen http://www.thelibertypapers.org/2008/02/01/a-great-day-for-the-economy-exxon-mobil-posts-record-profit/#comment-51109 Justin Bowen Fri, 01 Feb 2008 17:30:38 +0000 http://www.thelibertypapers.org/2008/02/01/a-great-day-for-the-economy-exxon-mobil-posts-record-profit/#comment-51109 I'm a shareholder in Exxon (both in the individual company and through my mutual funds) and I do think it's great. I bought in when it was at $57 and change. Because of bi-monthly purchases and dividend reinvestment, I have ~500 individual shares now. I couldn't be happier that my ~500 shares are doing great and don't really care that people who don't like the evil corporations don't want to profit from them. I'm also a driver. Gas today was just over $3.00 a gallon ($3.04/gal to be precise). I use a full tank (16 gal) about every two weeks (I'm actually using more now because of the horrible winter weather here in Michigan). Supposing the average is $3.00/gal (which is a little higher than average here), that comes out to $96/month with a quarterly total of $384 (I'd have to look at my MSMoney records to verify that that's close to what I'm spending, but I'm sure it's probably pretty close). If I take my coming stock dividend as a check instead of the automatic reinvestment (which, of course, I'm not going to do), that takes a good chunk out of my total gas costs (a little over $170). If I subtract my dividends from the total amount of gas paid, my total costs go down to about $214/quarter. That $214 divided by the average number of gallons used for the quarter takes me down to about $1.67/gal (if all of my math is wrong, let me know). That said, I still have no sympathy for people who choose to not profit from the evil oil companies. So boo fricken hoo. What I can't for now is the news clip where the reporter stands at a gas station (which probably won't happen around here because of the recent weather) and interviews the guy filling up an SUV while he complains about the gas prices. I think the news stations are actually doing that to poke fun at those people. Every time I see these stories they're always done with the guy filling up the SUV. I'm convinced that the people behind the scenes at the studio are laughing uncontrollably when these clips play. I’m a shareholder in Exxon (both in the individual company and through my mutual funds) and I do think it’s great. I bought in when it was at $57 and change. Because of bi-monthly purchases and dividend reinvestment, I have ~500 individual shares now. I couldn’t be happier that my ~500 shares are doing great and don’t really care that people who don’t like the evil corporations don’t want to profit from them.

I’m also a driver. Gas today was just over $3.00 a gallon ($3.04/gal to be precise). I use a full tank (16 gal) about every two weeks (I’m actually using more now because of the horrible winter weather here in Michigan). Supposing the average is $3.00/gal (which is a little higher than average here), that comes out to $96/month with a quarterly total of $384 (I’d have to look at my MSMoney records to verify that that’s close to what I’m spending, but I’m sure it’s probably pretty close). If I take my coming stock dividend as a check instead of the automatic reinvestment (which, of course, I’m not going to do), that takes a good chunk out of my total gas costs (a little over $170). If I subtract my dividends from the total amount of gas paid, my total costs go down to about $214/quarter. That $214 divided by the average number of gallons used for the quarter takes me down to about $1.67/gal (if all of my math is wrong, let me know). That said, I still have no sympathy for people who choose to not profit from the evil oil companies. So boo fricken hoo.

What I can’t for now is the news clip where the reporter stands at a gas station (which probably won’t happen around here because of the recent weather) and interviews the guy filling up an SUV while he complains about the gas prices. I think the news stations are actually doing that to poke fun at those people. Every time I see these stories they’re always done with the guy filling up the SUV. I’m convinced that the people behind the scenes at the studio are laughing uncontrollably when these clips play.

]]> By: UCrawford http://www.thelibertypapers.org/2008/02/01/a-great-day-for-the-economy-exxon-mobil-posts-record-profit/#comment-51098 UCrawford Fri, 01 Feb 2008 15:48:09 +0000 http://www.thelibertypapers.org/2008/02/01/a-great-day-for-the-economy-exxon-mobil-posts-record-profit/#comment-51098 Bill, Over in the U.K. I paid about twice as much for my gas there, about $6 a gallon (although that was mainly due to taxes). I can live with $3 :) Bill,

Over in the U.K. I paid about twice as much for my gas there, about $6 a gallon (although that was mainly due to taxes). I can live with $3 :)

]]> By: Bill http://www.thelibertypapers.org/2008/02/01/a-great-day-for-the-economy-exxon-mobil-posts-record-profit/#comment-51092 Bill Fri, 01 Feb 2008 15:00:34 +0000 http://www.thelibertypapers.org/2008/02/01/a-great-day-for-the-economy-exxon-mobil-posts-record-profit/#comment-51092 Profit is not a four letter word and I have no problem with a business making profit, creating jobs and paying dividends to their stock holders. Since I have no knowledge of how the pump price of gas is determined, the only negative thing I can say is maybe they could lower the pump price a little bit and give us consumers a few extra bucks in our pockets. Overall though, they do a pretty good job of keeping the supply line open and the prices reasonable. Profit is not a four letter word and I have no problem with a business making profit, creating jobs and paying dividends to their stock holders. Since I have no knowledge of how the pump price of gas is determined, the only negative thing I can say is maybe they could lower the pump price a little bit and give us consumers a few extra bucks in our pockets. Overall though, they do a pretty good job of keeping the supply line open and the prices reasonable.

]]> By: UCrawford http://www.thelibertypapers.org/2008/02/01/a-great-day-for-the-economy-exxon-mobil-posts-record-profit/#comment-51087 UCrawford Fri, 01 Feb 2008 14:00:54 +0000 http://www.thelibertypapers.org/2008/02/01/a-great-day-for-the-economy-exxon-mobil-posts-record-profit/#comment-51087 I think the shareholders, employees and families of employees of Exxon would agree it's a good thing. People who drive cars might bitch, but frankly the oil companies still provide fuel at a level low enough to make alternative fuel sources unprofitable so the complaining's pretty groundless. And the "environmentalists" will definitely bitch, but that's only because a) they hate capitalism and b) they refuse to acknowledge the fact that all other fuel sources are more expensive than oil and/or just as bad for the environment. If they want to get rid of Big Oil, perhaps they should plow their money into actual investment in private companies that work on alternative technologies rather than whine about how we should all give up modern life. If they don't have sufficient resources to do so perhaps they can pool their funds and invest in some Exxon stock first...that appears to be going up :) I think the shareholders, employees and families of employees of Exxon would agree it’s a good thing. People who drive cars might bitch, but frankly the oil companies still provide fuel at a level low enough to make alternative fuel sources unprofitable so the complaining’s pretty groundless. And the “environmentalists” will definitely bitch, but that’s only because a) they hate capitalism and b) they refuse to acknowledge the fact that all other fuel sources are more expensive than oil and/or just as bad for the environment.

If they want to get rid of Big Oil, perhaps they should plow their money into actual investment in private companies that work on alternative technologies rather than whine about how we should all give up modern life. If they don’t have sufficient resources to do so perhaps they can pool their funds and invest in some Exxon stock first…that appears to be going up :)

]]>