ConocoPhillips Reports Billions In Loses

ConocoPhillips Reports Billions In Loses

There are 35 comments on the News on 6 Tulsa story from Jan 28, 2009, titled ConocoPhillips Reports Billions In Loses. In it, News on 6 Tulsa reports that:

There's a sudden turnaround for ConocoPhillips. The nation's number three oil company reported a 4th quarter loss on Wednesday of $32 billion, pegged to some asset write-downs and plunging oil prices.

Join the discussion below, or Read more at News on 6 Tulsa.

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what the H

Tulsa, OK

#24 Jan 29, 2009
so your incredibly bright mind is telling us that they must have found NEW oil reserves for the price to have tumbled then? if not and we still have the same amount of oil (or less) then it sure seems like they 'felt' like raising oil prices to me!
okie 18 wrote:
Wow...ya'll sound incredibly bright...
Ever think that oil is not going to last forever?
We get most all of our oil from overseas? If not a lot of oil is found, the price per barrel goes up... If the oil companies 'drown' you won't be a happy camper considering you won't be able to drive. Yes the U.S. needs to find another way of transportation- but the oil companies did not all of the sudden 'increase' prices because they felt like it.

Since: Apr 08

Location hidden

#25 Jan 29, 2009
Mike wrote:
<quoted text>
Karma doesn't have anything to do with it. Here are some tidbits for the Bush/Big oil haters. ExxonMobil has taken a lot of heat for their monopolistic size. All the domestic oil companies in the U.S. combined equal about 15% of the world market. Also, Exxon and Mobil merged during which administration? It was during Clinton's admin in 1999 that the merger was approved. Bush had nothing to do with it.
What's with the Bush - Clinton thing? I never said anything about Bush having anything to do with it. I referred to Lawmakers being lobbied by the oil companies. They spent enormous amounts on that to keep the focus off of them. Wonder if they factored that into the percentages your mentioning.

Since: Apr 08

Location hidden

#26 Jan 29, 2009
Did you know wrote:
Other than Tap water do you know what the cheapest Fluid is? OIL... even at $140/bbl oil is cheaper than milk, bottled water(tap water with a label), gatorade, syrup, ketchup.
I guess you have a good point. Mrs. Butterworth is ripping us all off everyone!!!
Andy

United States

#27 Jan 29, 2009
Wish they'd give this stuff a rest. They still made a profit, just wasn't as much as when they were driving the price of crude up by speculating.
Jeneva

Tulsa, OK

#28 Jan 29, 2009
Yes. You have to understand that it doesn't mean they are running the company at a loss. It simply means that they are making less profits than the previous 3 quarters, comparitivly speaking. And, of course, the lower rung employees will be the ones to make up for that lowering of profits. You can be sure that the uppers, CEO, board members, etc., will not be living less lavishly or do without their bonuses.
Mike

Oklahoma City, OK

#29 Jan 29, 2009
PB Okie wrote:
<quoted text>
What's with the Bush - Clinton thing? I never said anything about Bush having anything to do with it. I referred to Lawmakers being lobbied by the oil companies. They spent enormous amounts on that to keep the focus off of them. Wonder if they factored that into the percentages your mentioning.
If you are going to quote me why did you exclude half of my quote? There are percentages I spoke of. One was comparing ExxonMobil to the size of the world market. The other which you did not mention was percentage of profit. As a percentage, oil companies didn't make anymore than any other respectable business. As a matter of fact they made less as a percentage than a lot of other businesses. The media just likes to throw out those big billion dollar figure so that we will get mad. How much profit are they allowed to make? Do you want someone in government taking their money away because they made "too much money"? If so, you might want to look out because the next step is sor the government to step in and say that YOU make too much money. So you have to ask yourself. Do you want the government stepping in and controlling things or do you want to live in a free country?

As I have said before, the real problem isn't the price of a gallon of gas. It's the fact that it can go up or down so much without the rest of the economy being able to compensate. It's the volatility that's the problem. Not the oil company. Speculators on Wall Street caused the whole problem.
Nick Ross

Andover, MA

#30 Jan 30, 2009
I'm not so sure I beleive this article! No sympathy !

Nick Ross
http://www.JazdOilandGas.com
http://www.JazdPackaging.com
http://www.JazdTelecom.com
what the H

Tulsa, OK

#31 Jan 30, 2009
HOUSTON ExxonMobil (XOM) on Friday reported a profit of $45.2 billion for 2008, breaking its own record for full-year earnings by a U.S. company, even as fourth-quarter profit tumbled 33%.

--- And I know this is not conoco, BUT!
Weldonheadbegger

Oklahoma City, OK

#32 Jan 30, 2009
The cure for their ailments isn't laying off hundreds of workers (who accomplish tasks) Just get rid of one ceo,cfo or director of the board. They gobble up all the profit " these days" & offer no productivity. It's sad how these co's can lay off the workers , cut their pensions, their 401ks ..& never ever inconvenience the greedy pigs looting the co's into bankruptsy. Cut spending at the top b4 it's too late. How is it that the ceo's are never inconvenienced? perhaps it's the crooked Washington lobbyists system.

Since: Apr 08

Location hidden

#33 Feb 1, 2009
Mike wrote:
<quoted text>
If you are going to quote me why did you exclude half of my quote? There are percentages I spoke of. One was comparing ExxonMobil to the size of the world market. The other which you did not mention was percentage of profit. As a percentage, oil companies didn't make anymore than any other respectable business. As a matter of fact they made less as a percentage than a lot of other businesses. The media just likes to throw out those big billion dollar figure so that we will get mad. How much profit are they allowed to make? Do you want someone in government taking their money away because they made "too much money"? If so, you might want to look out because the next step is sor the government to step in and say that YOU make too much money. So you have to ask yourself. Do you want the government stepping in and controlling things or do you want to live in a free country?
As I have said before, the real problem isn't the price of a gallon of gas. It's the fact that it can go up or down so much without the rest of the economy being able to compensate. It's the volatility that's the problem. Not the oil company. Speculators on Wall Street caused the whole problem.
Because my reply wasn't about your ranting and made up percentages. It was about your reference to Clinton and Bush. I had never mentioned anything about them. My reply to you was to point out that I was talking about lawmakers, not the executive branch of government.
Remember, you started your reply to me with something about Bush haters and such?

Since: Apr 08

Location hidden

#34 Feb 1, 2009
Mike wrote:
<quoted text>
If you are going to quote me why did you exclude half of my quote? There are percentages I spoke of. One was comparing ExxonMobil to the size of the world market. The other which you did not mention was percentage of profit. As a percentage, oil companies didn't make anymore than any other respectable business. As a matter of fact they made less as a percentage than a lot of other businesses. The media just likes to throw out those big billion dollar figure so that we will get mad. How much profit are they allowed to make? Do you want someone in government taking their money away because they made "too much money"? If so, you might want to look out because the next step is sor the government to step in and say that YOU make too much money. So you have to ask yourself. Do you want the government stepping in and controlling things or do you want to live in a free country?
As I have said before, the real problem isn't the price of a gallon of gas. It's the fact that it can go up or down so much without the rest of the economy being able to compensate. It's the volatility that's the problem. Not the oil company. Speculators on Wall Street caused the whole problem.
By the way, replying to your message and having it show in the field either in whole or part is not quoting you. Editing out a portion of your comment is done as a convenience to point out the specific part of your comment I'm replying to.
To quote someone is to retype their words and put them in quotation marks. No one was quoting you.
Since it seems to be a sensitivity, I'm including your entire message so that you feel completely represented here.

“Hillary, thirty years of lying”

Since: Nov 08

Paris

#35 Feb 1, 2009
more new wave accounting

“Say it loud and proud.”

Since: Sep 08

Tulsa, OK

#36 Feb 2, 2009
Yeah and how do you think the average joe felt about the $4.00 a gallon we were paying not too long ago. Sorry no sympathy here.
Paul M

Oklahoma City, OK

#37 Feb 3, 2009
That makes two of us. The ceo's will lay off the work force to cover their lavish lifestyles. The company will go belly up before they lay off any fringe benefits.
hadenough

New York, NY

#38 Feb 3, 2009
NO LOSS!!! Losing on projected earnings while still making a profit is not a loss. It is simply another case of bad management. If you predict to make $100 and only make $50....you didn't lose $50!!!

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