Comments on: Exxon Mobil Makes Monster Profit

Oil Giant Raked In $40.6B In 2007 - Biggest Annual Profit In History For U.S. Company

[killtheliars]

drivelphobe,

The companies should be taxed to the fullest degree. What are they goping to leave this market? If so good, someone else will come in if money is to be made, and once you leave you should not be allowed to do business here again, even if it hurts the shareholders. Investments are supposed to be a risk remember.
As for no gas that would never happen. As I said someone will always step in. I personally believe the govt'' shuold get in the oil game themselves and tell exxon and chevron to get the hell out.
I believe in alternative sources as well. I also believe that if you could come out with something tomorrow then it should be introduced for public consumption right away, regardless of the effect on the oil industry and their shareholders. An example is ethanol dervied from sugar cane. The govt'' has put a 50 cent per gallon tax on it because of pressure from the oil and corn lobbies.

[ici2i]

Now there''s a relevant and intelligent point by a good little, fall into line, trust my gov''t patriot. Introducing "approvedCBS", the new, take it up the a&& quitessential American.

[usbrit-2009]

The problem with the oil companies is that they seem to get paid at both ends. Their oil drilling ops. reap the benefit of high oil prices, their distilling ops. reap the benefit of high demand and their retail
ops. use high oil prices as a reason to gouge the customers. It''s a business plan that even Bill Gates, the king of planned obsolescence could be jealous of.

Had to comment - boinkcandy; love the name!!!

[ici2i]

Thanks for the explanation cpaide! There''s alot more that can be read into that as well incluing the disincetives for gov''t to do anything but nominal, feel good manipulation of the price at the pump when taxes are based on a percentage rather than a fixed amt / gal. Good post!

[boinkcandy]

Exxon is raping the American people. Celebrating on profits taken from families who are making sacrifices to adjust to the high oil prices impossed on them. Shame on the government for allowing this to happen.

[cpaide]

If you think Exxon-Mobil is making windfall profits from high gas prices, just remember that various state and federal governments enjoyed a windfall 2 1/2 times that of Exxon. So if Exxon made $40.6 billion, the governments made over $100 billion by taxing people who bought gas from Exxon. That works out to about $275 million/day. Guess what the war in Iraq is costing? About $275 million/day (see http://www.nationalpriorities.org/costofwar_home ).

Last year in California, the price of regular Exxon gas at the pump was about $3.11. Exxon''s retail price was about $2.50, for a profit of 25 cents a gallon or 10%. Federal gasoline tax is just over 18 cents a gallon; California gasoline tax is about the same (with the 1 cent a gallon UST fee). Then come state, county and local sales taxes of 24 cents a gallon (computed on the retail price PLUS the gas taxes--yes, a tax on a tax!). Total taxes: over 60 cents a gallon, or 25% of the retail price of the gas itself. So the government''s profit margin is 2 1/2 times that of Exxon Mobil ($40.6 billion profit / $404.5 billion sales = 10%)

But this is complicated and the taxes are hidden, so it''s easier to blame the oil companies rather than the government when both of them are equally devious.

Without the "war" and the insane taxes, gas would be about $1.25 a gallon, which is where it should be, given all the tax breaks afforded the oil companies by the ignorant American public.

[drivelphobe]

killtheliars..

My tax comment was regarding the income tax paid by the employees. Most companies utilize tax credits and special deduction allowances, so why not the oil companies? As stated by other posters, the ROE of big oil is consistent or below many other industries. the large numbers presented in a manner to induce shock, but the percentage is more important than the gross figure.

How would you like to go without gasoline? I believe in alternate fuel sources, but mainly to reduce our dependence on foreign suppliers. $4 per gallon gas is a bargain in the world market, so we are fortunate to have ample quantities in the USA. It''s never pleasant to have to cough up more money for something we need, but that''s life.

Thanks for your comments, have a nice day and thanks for the stock tip.

[bm6005]

Global warming is as silly a religion as islam.

Posted by pittsnoggle2

Hopefully you live somewhere where the effects of climate change occur first. I''ll be looking for your future posts when you''re F*k''d and you want a gov''t bailout!!

[j-whitman]

pittsnoggle2,,,,, " fanny-lancers " --- Good one, that''s the 1st time I heard that one....

1 problem -- It''s your conservatives that have the Log Cabin Republicans & Senator Wide Stance

[ici2i]

Bush: "now if these simple minded Americans notice and gripe about gas prices again, I''ll remind them again about trickle-down economics; they''ll think it''s great and I''ll distract them with some more of my jihadist terrorist killings. Hey Dicky, get me another deck of cards, I''ll work on them while I''m @ church"