Profitts at $40000.00 a minute !

i stopped buying from exxon/mobil gas a few years ago when they raped us, from the last spike in prices, and then gave millions to the outgoing ceo.

 

Just because you stopped buying gas from a station displaying the Exxon/Mobil logo in no way assures your not buying Exxon/Mobil products...

 

Oil is a commodity. How do you identify it? There's a Conoco/Phillips refinery on 1&9 in Linden(?). Did they pump it out of the ground? Who sells the refined product?

There's a Sunoco refinery at Eagle's Point just off I-295. I suspect their product is sold to stations that don't have Sunoco signs.

If you believe a publicly held corporation is making too much money then buy their stock. The last time I looked the dividend rate on XOM was ~2% & they have a dividend reinvestment program. What's your bank paying?

 

Let's see, from ExxonMobil's 2010 annual report:

Sales-based taxes $28,547,000,000
Other taxes and duties $36,118,000,000
Income taxes $21,561,000,000
Total $86,226,000,000

That's $164,100 per minute....4 x the amount they "profit".

Ah shucks, let's just take it all. From each according to his ability, to each according to his need.

 

Can we run our cars on vodka if we follow this plan...which is good for what...around 7 years? :mod:

 

1 part 90-proof vodka, 2 parts tonic. That's the kind of E15 I'd go for!

 

Does it say how much of this goes to U.S. governments, and how much to foreign governments?

 

That's from their report to stockholders. It doesn't have to be the truth. It's just there to show stockholders that that they are paying too much in taxes, even though they are paying none in the US.

I am on a lifelong boycott of Exxon. When they pumped fresh water out of our Hudson River, to sell in the Caribbean, that was it. That was back in 1990. (google it if you don't believe me) I haven't knowingly bought an Exxon product, nor will I ever. And I will NEVER believe anything that they say.

So as far as their annual report to stockholders, they are telling them what they want them to hear. How about seeing their IRS returns? That I might believe!

And if we are giving them corporate welfare, it should be cut off now. Perhaps it should be cut off retroactively, back to when they first made more profits than any other company in the history of the planet. They don't need to get any handouts.

 

In 2008 Gas was $4.00+ a gallon and Oil was $150 a barrel.

In 2011 Gas is $4.00+a gallon and Oil is under a $100 a barrel ..


WHY??

 

Slight corrections --

The daily average gas price chart I watch shows this year's US Average price peaking lower, at $3.96. My local prices reached went a dime higher at the same time, but Nymex Crude and WTI Cushing Spot were above $112/barrel, and Dated Brent Spot was above $125/barrel. Those crude prices collapsed only ten days ago, and pump prices always fall slower.

In 2008, when crude was higher, average US gas price was also $0.13 higher, and my local price as $0.31 higher.