Chico23231
04-28-2011, 06:51 PM
That's because people keep on buying oil products, and that number will only increase. After all, gas is not the only product derived from oil. I wouldn't expect their profits per capital to actually be that high. They have customers from all over the world buying their products.
FYI
These reported profits actually are what's left over after paying all the "bills"(taxes, wages, interest). The technical term is "net profits".
Net Profits actually only go to two places:
1. Retained earnings to reinvest in the company. Buy new equipment, do R&D, etc
2. Stockholders via dividends.
Now, whether or not they are actually doling all of the profits for either task is a different matter.
sure, but a 10 billion quarter is pretty damn solid
SirClintonPortis
04-28-2011, 11:12 PM
sure, but a 10 billion quarter is pretty damn solid
Impressive, yes, if we solely look at the magnitude. But if we consider that their total revenues --how much they get BEFORE deducting expenses-- are 100 billion, one can certainly see that how much they keep for themselves(the net profit) is quite a low percentage to how much they doled out(total revenue). Hence their margin(net profit divided by net revenue) is actually only around 9-10%
Got my numbers from here:
http://www.nytimes.com/2011/02/01/business/01oil.html
Monkeydad
04-29-2011, 10:16 AM
$4.10 now!
Damn! Jumped over a nickel overnight...$4.16 this morning.
I better fill up now, before it goes up any more. Have to drive to Long Island in a few days, better get it while it is "cheap". :angry-smi
Slingin Sammy 33
04-29-2011, 12:11 PM
Impressive, yes, if we solely look at the magnitude. But if we consider that their total revenues --how much they get BEFORE deducting expenses-- are 100 billion, one can certainly see that how much they keep for themselves(the net profit) is quite a low percentage to how much they doled out(total revenue). Hence their margin(net profit divided by net revenue) is actually only around 9-10%
Got my numbers from here:
http://www.nytimes.com/2011/02/01/business/01oil.html Agreed. Here's some more numbers that show a 7.7 - 8.8% range of profit. All while taking major financial risk.
Financial Statements for Exxon Mobil Corporation - Google Finance (http://www.google.com/finance?fstype=ii&q=NYSE:XOM)
To those who like to kick and scream about oil company profits, shall we discuss how the fed/states/localities benefit for taxation of a gallon of gas? Not to mention taxes on the oil companies revenue.
Motor Fuel Taxes (http://www.api.org/statistics/fueltaxes/index.cfm)
tryfuhl
04-30-2011, 09:36 AM
It's not only the oil companies that people are mad at. My friend is in Qatar right now, he's paying 48 cents a gallon.
skinznut
05-01-2011, 06:59 PM
A local gas station just went from $3.93 yesterday to $4.20 today. WTF?
cpayne5
05-01-2011, 07:53 PM
It's not only the oil companies that people are mad at. My friend is in Qatar right now, he's paying 48 cents a gallon.
He's getting royally screwed. It's 12 cents a gallon in Venezuela.
skinsguy
05-02-2011, 04:38 PM
Sorry, but I can't see how anybody in their right minds would be making excuses for the oil companies. They are making profits hand over fist. I don't care what the reason is for the increased gasoline and other fuel prices, it's ridiculous and needs to end.
Alvin Walton
05-02-2011, 05:04 PM
$4.29 here now.
:soapbox:
firstdown
05-03-2011, 12:21 PM
The only good news about gas prices is that I filled up my boat at around $2.80 and its now at $3.85. That saves me about $150 on that one tank. If I run down to empty and then fill up it will cost me around $624 to fill up the tank. Friends will learn quick that there are no more free rides because even a short trip will cost $100.