Quote :

"The Irving, Texas, company reported a first-quarter profit of $10.65 billion, or $2.14 per share, up from $6.3 billion, or $1.33 per share, a year earlier. "

http://news.yahoo.com/s/nm/20110428/bs_nm/us_exxonmobil

Enjoy that $4-5/gal of gas.

Glad I work from home!

4/28/2011 11:27:09 AM

This absolutely does not deserve it's own thread.

4/28/2011 12:13:43 PM

You're right. Let's see if it gets thrown into chit-chat.

http://thewolfweb.com/message_topic.aspx?topic=557032

4/28/2011 12:39:21 PM

4/28/2011 3:07:15 PM

We should tax them more, that way gas will be cheaper.

4/28/2011 3:50:32 PM

I'm assuming you agree that we should end subsidies to them though, right?

4/28/2011 4:08:05 PM

if they are true subsidies yes... if we are letting them keep more of what they earn, then no.

4/28/2011 4:25:04 PM

Quote :

"if they are true subsidies yes... if we are letting them keep more of what they earn, then no."

huh?
what's the difference?

4/28/2011 4:53:19 PM

They're both preferential treatment

4/28/2011 4:53:54 PM

not stealing something from someone is NOT "preferential treatment." jesus

4/28/2011 5:11:06 PM

it is if you steal from others.

4/28/2011 5:13:38 PM

Taxes aren't stealing, even Jesus knew that.

4/28/2011 5:17:42 PM

Quote :

"You're right. Let's see if it gets thrown into chit-chat."

Yep.


Also, as a 45 mpg motorcycle rider and owner of a decent position in XOM...ehhh.

4/28/2011 5:27:15 PM

While the OP was kinda crappy (no point was really made) I thought this thread was getting ready to go somewhere

[Edited on April 28, 2011 at 5:40 PM. Reason : now I'm gonna feel like an asshole posting anything serious in chit chat]

4/28/2011 5:31:42 PM

makes me fucking sick...

4/28/2011 5:54:13 PM

NATIONALIZE THE OIL COMPANIES!

4/28/2011 5:57:54 PM

Look up crude oil contango.

How about we end oil subsidies and implement a windfall profits tax.

4/28/2011 6:17:08 PM

High gas prices will surely make it more difficult for Da Messiah to get reelected.

I see this as a necessary step to

1) save America
2) keep really poor people off the road
3) make sure they stay off the road so they can't make it to the voting precinct

if you think about it, 2 & 3 are basically just reiterations of 1

4/28/2011 6:18:32 PM

Here's what I don't understand...

We give them tax subsidies on the production side, and then we tax their product's sale. WTF?

The kicker here is that if we change anything about the system they just have to cut production, blame it on "plant maintenance (we trying to save the poor animals!)" and jack our prices up.

4/28/2011 6:43:59 PM

Here's a new twist

What do they do with the tax subsidies? Invest it in snatching up patents to stifle competition further.

We, the taxpayer, are funding a severe deficit in innovation through the discretionary spending of oil execs. Why have we been driving on fossil fuel machines for over a century yet we invent 5 new iPods a year?



as a personal note

I bartended in St. Croix one summer and served an oil exec from Hess hq. Hess' refinery is in St. Croix, and it's the largest oil refinery in the Western Hemisphere. He was an obnoxious a-hole. Think the personality of Tony Montana with the demeanor and appearance of Bill Gates. I told him I was studying in college, and he asked me what engineering I was pursuing. I told him I wasn't doing engineering, and he asked me what 7-11 I wanted to work at.
I will always remember that, and I admire the man. I felt like telling him off, but at the end of the night he gave me a 200% tip on the tab. God bless America.

[Edited on April 28, 2011 at 6:58 PM. Reason : ]

4/28/2011 6:48:41 PM

The subsidies aren't really a very consequential amount of money, but yeah, we shouldn't be giving them subsidies. I think the intent was to encourage and bolster smaller oil companies, for whom the subsidies might have more of an impact. At any rate, I don't think we should be subsidizing any of them.

I also don't think we should be up in arms when they make a lot of money. Good for them.

4/28/2011 6:58:20 PM

Quote :

"I told him I wasn't doing engineering, and he asked me what 7-11 I wanted to work at."

I like the sound of this guy.

4/28/2011 7:04:21 PM

Quote :

"I felt like telling him off, but at the end of the night he gave me a 200% tip on the tab."

See that? It trickled down.

4/28/2011 7:51:13 PM

I would be in favor of a corporate AMT.

4/28/2011 9:15:37 PM

i'd be happy if they just took the corn grease out of it

4/28/2011 9:17:55 PM

I'm in Irving...

Whose door do I need to knock on?

4/28/2011 9:21:47 PM

Quote :

"owner of a decent position in XOM"

gas goes up--i win

gas goes down--i win

4/28/2011 10:17:42 PM

My penis soars 69% percent of your mom.

4/28/2011 10:20:11 PM

No. It does not.

4/28/2011 10:26:00 PM

God I wish I had some oil stock. Oil companies and the middle east are raping everybody. I just hope I'm alive when they run out of oil. Fucking greedy Muslims.

4/28/2011 10:27:33 PM

Quote :

"it is if you steal from others."

Exxon came into your house and stole your flat screen? oh, I bet you want them to sell their oil to us for less than China would pay for it

Quote :

"How about we end oil subsidies and implement a windfall profits tax."

yes, because everyone knows that a tax on something makes it cheaper

4/28/2011 10:41:56 PM

So what 7-11 do you want to work at?

I'm hoping to get one in VA, to be honest.

4/28/2011 10:43:27 PM

Remember there's no such thing as making too much money.

4/28/2011 10:55:07 PM

Quote :

"owner of a decent position in XOM gas goes up--i win gas goes down--i win"

XOM...

along with:

BP
NEE (Nextera Energy...deals heavily in hydro/wind/nuke/solar)
SLB (Schlumberger...oil drilling giant)

and CNI (Canadian National Railway)...hedge against fuel costs, as trains are very fuel efficient.

oh, and PGN (Progress Energy)

[Edited on April 28, 2011 at 11:22 PM. Reason : /i]

4/28/2011 11:12:14 PM

interesting fact about schlumberger: if you apply there and don't get hired, you can't apply again for three years

4/28/2011 11:24:44 PM

Quote :

"Glad I work fromnever leave home! "

4/28/2011 11:52:18 PM

Quote :

"Remember there's no such thing as making too much money."

tell that to liberals

4/29/2011 12:12:42 AM

When you mention subsidies to oil companies don't forget to mention this


they have us in the palm of their greasy hand.

4/29/2011 12:32:38 AM

or maybe we prefer to drive instead of ride the bus

4/29/2011 3:37:45 AM

Quote :

"i'd be happy if they just took the corn grease out of it"

Amen to that. It's bad enough to pay $4 for a gallon but could I at least get an entire gallon of gasoline instead of 10% of that ethanol bullshit?

k thx

4/29/2011 8:16:50 AM

^^^..lol...and?

4/29/2011 8:31:57 AM

^do you really need someone to explain that for you? If so I hope you don't attend NCSU.

4/29/2011 8:41:56 AM

yup

Tell me your conspiracy theories

You make it sound like the expenditures were without good reason but to make money off oil products...as if there was no demand

double rolled

[Edited on April 29, 2011 at 8:59 AM. Reason : d]

4/29/2011 8:44:30 AM

Speaking of Schlumberger, I have a CHE friend who went to New Orleans to interview with them. She went to a pre-interview dinner, found out how god awful their work schedule is (80 hours a week is low). She canceled her day of interviews then partied her ass off on Bourbon street

She had a huge offer from Exxon but decided to go with another major company because she could get paid well and still have a life

4/29/2011 8:52:57 AM

^^

4/29/2011 9:07:01 AM

Quote :

"Amen to that. It's bad enough to pay $4 for a gallon but could I at least get an entire gallon of gasoline instead of 10% of that ethanol bullshit? "

This is exactly the point I was going to make at the beginning of the thread. People bitch because the subsidies to Ethanol are market distorting. Most people agree that ethanol blending is generally a bad idea, it makes for shittier fuel, is a less efficient use of resources, drives up food prices etc etc etc.

They say we should end the subsidies to ethanol production but the major subsidy is actually a tax credit (the volumetric ethanol excise tax credit)

then they turn around and say this about tax credits to oil companies

Quote :

"if they are true subsidies yes... if we are letting them keep more of what they earn, then no. "

Quote :

"not stealing something from someone is NOT "preferential treatment." jesus "

about tax credits.


They are the same damn thing!

[Edited on April 29, 2011 at 9:23 AM. Reason : rawr rawr rawr]

4/29/2011 9:22:34 AM

Someone go read an article about how fuel companies work on profit margins and it's not their fault that they made so much profit off the high fuel prices then come back here and preach it to us as if margins are written into law and always static.

[Edited on April 29, 2011 at 10:00 AM. Reason : l]

4/29/2011 9:59:16 AM

It's odd that nobody is complaining about the government getting more gas tax revenue from the increased prices either.

4/29/2011 11:02:16 AM

I thought people were using less gas?


Is gas tax a flat tax or is it a percentage tax?

4/29/2011 11:03:29 AM

^I think it varies by state gov't...not sure about fed either.

4/29/2011 11:11:17 AM