IRememberDBoon Posted February 1, 2008 Share Posted February 1, 2008 February 1, 2008Exxon Mobil Earnings Soar on Record Oil Prices By REUTERSFiled at 8:25 a.m. ET NEW YORK, Feb 1 (Reuters) - Exxon Mobil Corp (NYSE:XOM) said on Friday record oil prices boosted its fourth-quarter earnings to $11.66 billion, the highest ever operating profit by a U.S. company. Shares of the world's largest non-government-controlled oil company rose 1.7 percent in before-the-bell trading as the results beat Wall Street forecasts. Net income rose nearly 14 percent from the year-earlier of $10.25 billion. Earnings per share rose to $2.13 from $1.76 last year. Analysts, on average, were expecting earnings of $1.98 per share. "They performed across the board, upstream, downstream, U.S. and foreign," said James Halloran, who helps manage about $35 billion at National City Private Client Group. Revenue in the quarter rose to $116.64 billion from $90.03 billion in 2006. Oil prices averaged more than $90 a barrel during the quarter and nearly hit $100 due to tight supplies, geopolitical risks and the weak dollar. They averaged just over $60 a barrel in the same period a year earlier. Profit margins from refining were relatively weak in the quarter as gasoline prices failed to keep pace with oil prices that soared to record levels. Since the beginning of last year, shares of Exxon are up about 13 percent, underperforming the Chicago Board Options Exchange's oil index, which is up about 21 percent. Quote Link to post Share on other sites
remphish1 Posted February 1, 2008 Share Posted February 1, 2008 I wonder if gas price are inflated with this record profit? Makes ya wonder? Quote Link to post Share on other sites
JUDE Posted February 1, 2008 Share Posted February 1, 2008 I wonder what kind of tax revenues are generated on the sales of gasoline? Makes ya wonder? Quote Link to post Share on other sites
IRememberDBoon Posted February 1, 2008 Author Share Posted February 1, 2008 I wonder if gas price are inflated with this record profit? Makes ya wonder? Good question WHY THE FUGG ARE GAS PRICES SO FUGGING HIGH??!!!! You would think that if they are higher than ever that would mean Exxons profits would be their lowest ever right?? The DEMOCRATS tried to cancel their tax cuts and subsidies but The President threatened to veto if they did Quote Link to post Share on other sites
JUDE Posted February 1, 2008 Share Posted February 1, 2008 Good question WHY THE FUGG ARE GAS PRICES SO FUGGING HIGH??!!!! It couldn't be because oil and gasoline are traded as commodities and futures are sold, plus that little thing called supply and demand along with refining capacity limitations and such? Of course not, only the oil companies taking and hiding massive profits explain high prices. Quote Link to post Share on other sites
embiggen Posted February 1, 2008 Share Posted February 1, 2008 Why come? Quote Link to post Share on other sites
ikol Posted February 1, 2008 Share Posted February 1, 2008 Gas prices should be low so people can use more of it and emit more CO2. Quote Link to post Share on other sites
Sir Stewart Posted February 1, 2008 Share Posted February 1, 2008 Why come?I love saying 'why come' instead of 'how come.' I blame Erykah Badu. Quote Link to post Share on other sites
aricandover Posted February 1, 2008 Share Posted February 1, 2008 I love saying 'why come' instead of 'how come.' I blame Erykah Badu. did you shave your head, too? Quote Link to post Share on other sites
Sir Stewart Posted February 1, 2008 Share Posted February 1, 2008 did you shave your head, too? I am actually Tyrone. Quote Link to post Share on other sites
Guest Jules Posted February 1, 2008 Share Posted February 1, 2008 Gas was more expensive in 1981 than it is today. Quote Link to post Share on other sites
remphish1 Posted February 1, 2008 Share Posted February 1, 2008 Gas was more expensive in 1981 than it is today. i wasn't driving in 1981 so that is irrelavant kiddin Quote Link to post Share on other sites
IRememberDBoon Posted February 1, 2008 Author Share Posted February 1, 2008 Gas was more expensive in 1981 than it is today. What the F does that have to do with anything?? Quote Link to post Share on other sites
Guest Jules Posted February 1, 2008 Share Posted February 1, 2008 Good question WHY THE FUGG ARE GAS PRICES SO FUGGING HIGH??!!!!Gas was more expensive in 1981 than it is today.What the F does that have to do with anything?? Quote Link to post Share on other sites
plasticeyeball Posted February 1, 2008 Share Posted February 1, 2008 gas prices are usually lowest here (nj) that anywhere else in the country. they vary greatly state to state mostly because of state & local taxes, transportation costs, (ie hawaii) and francise owner profits. i didn't get gas this week but regular unleaded was 2.89/gallon here last week i think. Quote Link to post Share on other sites
IRememberDBoon Posted February 1, 2008 Author Share Posted February 1, 2008 can we go back to 1998 please! lord put another democrat in office! Quote Link to post Share on other sites
JUDE Posted February 1, 2008 Share Posted February 1, 2008 OK, so you just confirmed Jules' statement. and... Quote Link to post Share on other sites
Guest Jules Posted February 1, 2008 Share Posted February 1, 2008 can we go back to 1998 please! lord put another democrat in office! What the F does that have to do with anything? $2.80 a gallon in 1981 is probably around $10.00 today. Gas is still cheap (historically), and I don't think having a Democrat in office has anything to do with it either. [quote name='JUDE Quote Link to post Share on other sites
Sir Stewart Posted February 1, 2008 Share Posted February 1, 2008 QUOTE (IRememberDBoon @ Feb 1 2008, 08:41 AM) Good question WHY THE FUGG ARE GAS PRICES SO FUGGING HIGH??!!!!QUOTE (Jules @ Feb 1 2008, 10:30 AM) Gas was more expensive in 1981 than it is today.QUOTE (IRememberDBoon @ Feb 1 2008, 10:32 AM) What the F does that have to do with anything?? I'm framing this and putting it up in my cube. Quote Link to post Share on other sites
Guest Jules Posted February 1, 2008 Share Posted February 1, 2008 QUOTE (IRememberDBoon @ Feb 1 2008, 08:41 AM) Good question WHY THE FUGG ARE GAS PRICES SO FUGGING HIGH??!!!!QUOTE (Jules @ Feb 1 2008, 10:30 AM) Gas was more expensive in 1981 than it is today.QUOTE (IRememberDBoon @ Feb 1 2008, 10:32 AM) What the F does that have to do with anything?? I'm framing this and putting it up in my cube.it's almost too good to be true. Quote Link to post Share on other sites
IRememberDBoon Posted February 1, 2008 Author Share Posted February 1, 2008 so her telling me that prices were the same in 1981 answers why they are so high now? i dont get tit. Quote Link to post Share on other sites
aricandover Posted February 1, 2008 Share Posted February 1, 2008 so her telling me that prices were the same in 1981 answers why they are so high now? i dont get tit. loser. Quote Link to post Share on other sites
Guest Jules Posted February 1, 2008 Share Posted February 1, 2008 so her telling me that prices were the same in 1981 answers why they are so high now? i dont get tit.I'm saying they're not high. Quote Link to post Share on other sites
bjorn_skurj Posted February 1, 2008 Share Posted February 1, 2008 I'm saying they're not high.They're high. They may not be as high, relative to the rest of the economy, as they were at some point in the past, but relative to my economy, they are high. Quote Link to post Share on other sites
Guest Jules Posted February 1, 2008 Share Posted February 1, 2008 They're high. They may not be as high, relative to the rest of the economy, as they were at some point in the past, but relative to my economy, they are high.ok - as opposed to "low", then yes they are high. Quote Link to post Share on other sites
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