Low oil industry profits expected

Full story: WOOD-TV Grand Rapids and Michigan

The nation's biggest oil companies certainly won't need a bailout from the federal government, but they won't have to defend staggering profits anytime soon either.
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1 - 13 of 13 Comments Last updated Apr 20, 2009

Since: Jul 08

Kentwood MI

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#1
Apr 16, 2009
 

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Does this mean that the profits will only be huge instead of ginormous?
LC
Grant

Spring Lake, MI

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#2
Apr 16, 2009
 
This just breaks my heart!! Does this mean that the CEO of Exxon-Mobil won't be getting his $300,000,000 salary this year?(Yeah you read that right, 300 mill) Can we say, another bunch of corrupt bastards? The prices out here at the lake go up and down practically hourly and if you ask them why, they say something to the effect..."we pass on our cost off the truck" The truck comes twice a month.... not hourly.
Wild Bill

Grand Rapids, MI

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#3
Apr 16, 2009
 
I smell bailout!
Enron-Kentwood

Jenison, MI

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#4
Apr 18, 2009
 
HA HA HA It serves those greedy bastard right! All that wed can keep doing now is to conserve, conserve, conserve!

(You will find me driving 60 mph on the freeways around town!)

Since: Oct 08

Jackson, MI

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#5
Apr 18, 2009
 
Lower oil profits . . . cry me a river . . .

“love, loyalty, friendship”

Since: Sep 08

Dutchville

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#6
Apr 18, 2009
 
LOL. I feel soooooo sorry for those greedy bastards.
Wild Bill

United States

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#7
Apr 19, 2009
 
Enron-Kentwood wrote:
HA HA HA It serves those greedy **** right! All that wed can keep doing now is to conserve, conserve, conserve!
(You will find me driving 60 mph on the freeways around town!)
As long as you stay out of the passing lane, have at it.
Sandy

Knoxville, TN

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#8
Apr 19, 2009
 
Over 50 wrote:
Lower oil profits ... cry me a river ...
Careful, it could cost your union friends some of their jobs!
gsrddi

Toronto, Canada

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#10
Apr 20, 2009
 

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Don't expect low oil prices to last, says Jeff Christian of the Stock Research Portal Newsletter. He expects $60 to $65 is a "reasonable target" for late 2009. And given an economic recovery, "There is not enough energy to supply what is anticipated in terms of real GDP. That means oil prices go back over $100 in a three-to-five year time frame and possibly a lot farther."

Source: www.stockresearchportal.com

“Taz say Hi”

Since: Jan 08

Holland,MI

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#11
Apr 20, 2009
 
Low would be relatively speaking, compared to last year. I just read that the latest profit figures bumped #1 Wal Mart to second place behind Exxon-Mobile.
Onedoer

Holly, MI

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#12
Apr 20, 2009
 

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Sandy wrote:
<quoted text>Careful, it could cost your union friends some of their jobs!
Sandy this thread is not about unions but I bet you knew that. You would probably put your union gripes in someones obituary if you could.

“Go MSU Spartans!”

Since: Oct 08

Kalamazoo, MI

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#13
Apr 20, 2009
 
gsrddi wrote:
Don't expect low oil prices to last, says Jeff Christian of the Stock Research Portal Newsletter. He expects $60 to $65 is a "reasonable target" for late 2009. And given an economic recovery, "There is not enough energy to supply what is anticipated in terms of real GDP. That means oil prices go back over $100 in a three-to-five year time frame and possibly a lot farther."
Source: www.stockresearchportal.com
All the more reason for us to get drilling now so that we can meet our requirements while we work toward practical, renewable energy alternatives and get the infrastructure in place that will be necessary. We can keep pretending that we can make the switch to alternative energy over-night if we have to, but reality indicates otherwise. At this point it is a question of national security.
Sandy

Knoxville, TN

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#14
Apr 20, 2009
 
Onedoer wrote:
<quoted text>
Sandy this thread is not about unions but I bet you knew that. You would probably put your union gripes in someones obituary if you could.
I wasn't griping...I was merely commenting on a different post. The oil workers are unionized or did that piece of information escape you?

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