Big oil, big profits -- but not big enough

There are 13 comments on the The Morning Call story from May 2, 2008, titled Big oil, big profits -- but not big enough. In it, The Morning Call reports that:

Don't expect motorists to sympathize, but Exxon Mobil Corp. says gasoline prices didn't do it any favors in the first quarter.

Join the discussion below, or Read more at The Morning Call.

Bossy Gillis

AOL

#1 May 2, 2008
First of all, ExxonMobil should not even exist, the stupid government allowed those two to merge. There is no competition, none. We get so many different stories of where the oil comes from, is it Mexico, Canada, the Middle East, where? Everything is so very hush, hush and that tells me the entire thing is fixed.
aintgottwocents tospare

United States

#2 May 2, 2008
Write all your members of House/Senate imploring them to reimpose an EXCESS PROFITS TAX on companies who are profitting off this war. Halliburton/KBR/Blackwater and many more!

http://www.sourcewatch.org/index.php ...

What is excess profits tax?

http://education.yahoo.com/reference/encyclop ...
Andrew

Northbrook, IL

#3 May 2, 2008
I think I say this every quarter but here it is again.

If you own a mutual fund in an investment account or a 401k more than likely you're an ExxonMobil owner.

Do you wanna give up some of your retirement fund so my gas price is lower?
Bossy Gillis

AOL

#4 May 2, 2008
Andrew wrote:
I think I say this every quarter but here it is again.
If you own a mutual fund in an investment account or a 401k more than likely you're an ExxonMobil owner.
Do you wanna give up some of your retirement fund so my gas price is lower?
At the rate we are going, that retirement fund won't be worth diddly, however, the weekly fill up, or whatever it is for consumers, is costing way too much. Wages have not kept pace with gas, food, etc. These high fuel prices jack up everything.
Maybe

Allentown, PA

#5 May 2, 2008
Exxon/Mobile ought to get into alternative energy before they miss out on even more profits. At least they'd be getting good PR and in the end, corner that market too!
Andrew

Northbrook, IL

#6 May 2, 2008
Bossy Gillis wrote:
<quoted text>
At the rate we are going, that retirement fund won't be worth diddly, however, the weekly fill up, or whatever it is for consumers, is costing way too much. Wages have not kept pace with gas, food, etc. These high fuel prices jack up everything.
You are absolutely right but this is not something I blame the oil companies for, nor am I painting you as one that is blaming the oil companies, you haven't said either way. I am however making adjustments in my life to deal with the higher prices. Unfortunetely there's not much more we can do.
Andrew

Northbrook, IL

#7 May 2, 2008
Maybe wrote:
Exxon/Mobile ought to get into alternative energy before they miss out on even more profits. At least they'd be getting good PR and in the end, corner that market too!
When it becomes profitable I believe they will get involved with alternative energy.
Silly Scholars

Beaumont, TX

#8 May 2, 2008
HHO / "Brown's Gas" = Fuel From Water

China, Iceland, Europe, Korea, Australia and others know it is a common, clean, safe, and inexpensive Hydrogen-Oxygen fuel-on-demand solution for mankind.

Their economies are stronger, and growing stronger, accordingly.
The Real Reality Check

United States

#9 May 2, 2008
Exxon / Mobile
The PERFECT EXAMPLE of how the Republican party's Trickle Down Theory DOESN'T WORK!

Trickle down to gas being $4.00 a gallon.......YEA RIGHT !

The Republican Party better be praying there are no more floods in New Orleans during this Hurricane season because there are going to be a lot more Americans who can't afford to leave.....
The Real Reality Check

United States

#10 May 2, 2008
REALITY OF THE REPUBLICAN "TRICKLE DOWN THEORY"

Let all of their "Have and Have More Friends" get to build $40 million dallor vacation homes and let that money TRICKLE DOWN thru architects, interior designers, and the illegal immigrants that do the construction........

If you want to see these homes....go to Naples Florida and drive thru Port Royal!
Get Real

Penns Grove, NJ

#11 May 2, 2008
Andrew wrote:
I think I say this every quarter but here it is again.
If you own a mutual fund in an investment account or a 401k more than likely you're an ExxonMobil owner.
Do you wanna give up some of your retirement fund so my gas price is lower?
I wonder how the 70 billion dollars in profits that Iraq is hiding in Swiss bank accounts figures into this, if at all. I saw that on the news two nights ago and can't believe I haven't seen it in this newspaper. While Iraq hides 70 billion we're in a deficit fighting their war and reconstructing their country with our brave soldiers and our money.
Eddiebees

Blairstown, NJ

#12 May 2, 2008
From a finance/economic perspective Exxon did not have a stellar quarter. Why? Even though revenues and profits were up, the incremental return on the increased revenue fell as a result of Exxon's inability to utilize its cheaper reserves to refine into gasoline. So what? The Oil/Gasoline/diesel business is incredibly capital intensive, meaning that to produce revenue and profits the company needs to expend billions in exploring and drilling reserves. These costs come out of profits and ultimately shareholder equity OK, who cares? For each dollar of capital which is invested with a lower return the company loses its ability to raise more capital and utlimately the equity markets dry up. Return on equity as a percentage is the measurement not aggregate profits. Here's why. If you had a $ 100,000 and were receiving a return of 8%, would you be happy with investing another $ 100,000 at 1%, and get an average of 4%,or would you want to receive the 8%? During this period, Exxon's return on petroleum products is 4% as opposed to the last quarter of 8%. They could have put the investment in corporate bonds and got a higher return. Not a good quarter.
Jason

Saint Louis, MO

#13 May 23, 2008
Billions of dollars in profits and it's not their fault? Give me a break! They say their investing billions in exploration? Where the heck are they exploring? Mars? I don't believe a word of this garbage.

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