PDA

View Full Version : Exxon and Shell profits up almost 75% last quarter



tony
10-27-2005, 06:21 PM
Is there something wrong with this? Exxon made a $9.92 billion dollar profit in the past 3-4 months.

Shell's (who I will NEVER buy gas from because of what they have done in Nigeria) profits are up 68% and they made $9.39 billion last quarter.. this is just for a quarter not the entire year!!!

Could this be considered price gouging?

TranceDJ06
10-27-2005, 06:24 PM
ya The actual price today in atlanta is 1.779 BEFORE Tax! (that price is from wallace Oil Company)
But of course tax adds up and the other cents the owners want to make, over that price gouging.

Halfwit
10-27-2005, 08:16 PM
i heard about that. its crazy,but gas was at high demand and everyone panicked.. i say good business strategy(everyone wants more money)

Kevykev
10-27-2005, 08:20 PM
They did well!

Very Well, Disgustingly well!

Halfwit
10-27-2005, 08:22 PM
what i want to know is...WHERES MY CUT?..oh wait i dont get one

static
10-28-2005, 11:05 AM
They did too well. I guess it's smart business strategy even though I don't agree with how high gas has become. They know everyone has to travel and does use gas so they cash in.

GTScoob
10-28-2005, 01:19 PM
They did too well. I guess it's smart business strategy even though I don't agree with how high gas has become. They know everyone has to travel and does use gas so they cash in.

Yep. And even if their price of gas goes down, I doubt that we'll see it as consumers since they can just make more profit leaving it the way it is.

JoeCoolinATL
11-18-2005, 12:36 AM
seems like they are doing their job and making money. what most companies do.

RandomGuy
11-18-2005, 01:30 AM
i dont see a necessary correlation between that and price gouging. Maybe its just the consumer habits? People come to the gas station MORE now, because they fill up less at a time maybe? More traffic = obviously more revenue, more rev + good marketing (im sure they planned this all out) = mad profit?

just my 2cents

Danny
11-19-2005, 01:52 PM
Is there something wrong with this? Exxon made a $9.92 billion dollar profit in the past 3-4 months.

Shell's (who I will NEVER buy gas from because of what they have done in Nigeria) profits are up 68% and they made $9.39 billion last quarter.. this is just for a quarter not the entire year!!!

Could this be considered price gouging?


Im probably missing somthing, but where is your info coming from? And your talking about net income right? Im showing 9.9B net income, from thier last filling.. Fill me in here bud! Thats only a 30% increase over last 10Q

1439/2000
11-19-2005, 02:06 PM
Shell's (who I will NEVER buy gas from because of what they have done in Nigeria)

What did Shell do in Nigeria???

tony
11-19-2005, 04:33 PM
Im probably missing somthing, but where is your info coming from? And your talking about net income right? Im showing 9.9B net income, from thier last filling.. Fill me in here bud! Thats only a 30% increase over last 10Q


That info came from NBC news, if they are wrong then that is my mistake.

tony
11-19-2005, 04:37 PM
What did Shell do in Nigeria???


I did a report on it in school, longggg story but basically they have no regard for the term "social responsibility" in Nigeria, heres a small quote:


November 1995, Ken Saro-Wiwa, a well-known Nigerian author and spokesperson for the Movement for the Survival of the Ogoni People (MOSOP), was hanged in Port Harcourt, in the heart of the oil-producing region of southeast Nigeria, together with eight other Ogoni activists all involved in protests against the oil industry. The Saro-Wiwa case brought into the international headlines a debate over the role played by the oil multinationals in Nigeria that had already been raging for several years. Shell in particular was blamed both locally and internationally as the government first brutally suppressed protests by MOSOP, and finally tried and executed the core of the organization's leadership.

It goes much deeper than just 8 activists though, the stuff they have done over there is totally unethical.

Danny
11-19-2005, 11:06 PM
That info came from NBC news, if they are wrong then that is my mistake.

its all good. but i just dont see where they get that from. I read the 10Qs, and i see a 30% increase in net income, not 75%. Beats me man.. :D

tony
11-20-2005, 08:37 AM
Probably more for shock value, 30% doesn't get the publics blood boiling like 75% considering what we were paying for gas.

atlantamx3
11-21-2005, 12:48 AM
How about instead of bitching- you invest inthose companies and make money like a good little shareholder?

How would you like it if people were whing that YOU or your company made too much money?

tony
11-21-2005, 06:24 AM
How about instead of bitching- you invest inthose companies and make money like a good little shareholder?

How would you like it if people were whing that YOU or your company made too much money?


Nobody is bitching or complaining and actually I do hold stock and a couple of oil companies but not exxon or shell.

If I was price gouging I wouldn't be suprised if my company was getting criticized by the general public, just my :2cents:

Danny
11-21-2005, 10:28 AM
How about instead of bitching- you invest inthose companies and make money like a good little shareholder?

How would you like it if people were whing that YOU or your company made too much money?

Heythere now, its not that serious. He was just posting what he saw, and put it up for debate. Theres plenty of stocks to make money on, Katrina, Bird Flu, oil stocks and ETFs. Its all gravy :D just wish it was as easy as u make it sound, REVS UP = PPS UP. Which is not true by the way.

sweetcarz02
11-23-2005, 03:42 PM
I have shares of Exxon.!


woooo. FYI, Exxon's profit mostly came from a Dutch subsid. company and relates nothing to gas sales at all. :)

malfeas99
11-23-2005, 04:57 PM
They say 75% increase instead of 30% increase because they're hoping people won't understand the difference between gross and net profit, and more importantly, profit margin percentages.

The price of gas has dropped a rock in the past month or so. Did the oil companies just get less greedy? Decide to cut you a break and gouge you a little less?

Any reason the gas sold by non US companies was right on track with the US corps?

The oil companies have very little say over the price of gas. Economics does.

Price gouging my ass. This is why I don't watch the news. These assholes will lie to your face to either a) push an agenda or b) grab ratings by shamelessly using shock numbers and engineered statistics taken out of context.

Not a chance.

99SI
11-23-2005, 06:59 PM
I heard someone put it into a good perspective. Profit margin is the way to look at it. They made 9 billion profit on 90 billion in sales. That's roughly a 10% profit margin. Which is directly in line with other large companies. As an example, McDonald's had a 13% profit margin for the same quarter. Should a special session of congress be called to tell them how to spend their profits? Should they have to give 1 billion dollars to the association for the advancement of fat asses? I do tend to lean towards a democratic way of thinking when it comes to politics, however, it makes perfect sense to me why those companies are making these profits. What's so funny about the whole, special congressional hearings with big oil companies, is the fact that it was introduced by a republican. lol, who would have thought, isn't that completely against the republican norm?