http://www.latimes.com/business/la-0...track=morenews

OK, I guess I'm taking up walking and cycling around town, I mean, I know businesses are suppose to make money but ......

 

This is getting ridiculous. People are paying record prices for home heating oil and gasoline, and The worlds largest oil company just made more profit in one quater than ANY company in history. I'm just tired of hearing about how high oil prices are, and the oil companies are making record breaking profits.

They made 10.3 Billion dollars in the last quater of 05. They made 38 Billion for the entire year.

 

There is a Exxon thread 3 threads down.

 

I just went to town trying to dig through stuff to figure this out. When it comes up with my friends, it instantly goes political. (there are a few I can go at it with, but some just yap away regardless )

http://www.taxfoundation.org/publica...show/1139.html

Read through it. Personally, I think we're giving the hairy eyeball to the wrong people.

 

Okay they're (the oil companies) are on a "high profit cycle" vs a previous "flat profit cycle" 33 bln vs 12 Bln.... dudes... profits is profits...when is too much too much... whose the real culprit? I don't know, but I do know who has to pay for it at the pump!!

 

I had meant that the taxes imposed on them are getting out of hand. I had heard somewhere--which led to my own looking around--that oil companies were taking home 9 cents in profit while government was taking around 50 cents from the pump price. Everyone has to make a buck somehow, especially when there's always someone behind them taking money right back out of their back pocket. Believe me, I'm far from saying oil companies are clean in all of this, but I think they've become the whipping boy for what we should be calling out our officials for, that's all. For all of the money they made, think about how much the gov't got. Where'd it all go? Why does it have to be so much? If government didn't gorge itself on oil company revenue, wouldn't it serve to make sense that they could then back prices down with one less mouth to feed, or least one with a smaller appetite?

 

JDmorg I agree with ya, wholeheartedly, but I don't wanna turn this into a political thread, the profits start with the oil moguls, who have a strong lobby within the govt... Once taxes are set they're rarely turned back.....

 

Most companies count their profits after taxes, and expenses are paid.

 

Yeay!!! In this climate of a 'bad economy', auto makers reducing work force, jobs goinng overseas. It's good to hear that an American company is being successful.

That and the fact that my retirement portfolio says this is a good thing. Who am I to argue.

 

At least half of that profit probably came from fueling my truck. I use my Mobile Speedpass all the time. It may be slightly more expensive fuel, but it is the closest station to my house and that Speedpass is incredibly cool.

 

It's just greed at a new mostly obscene level. Hurry up Ethanol mfg plants, and the develpment of back yard distillers so we all can make our own fuel from $2.00 corn.

http://http://www.ethanolrfa.org/industry/locations/

 

I guess when they get all the money, they won't be able to sell anymore product. All I know durning this past fall, putting $500 in Biodiesel in two combines everyday to harvest that $2.00 corn wasn't panning out too well.

 

I was payin $300.00/day just to keep my 4 wheeler pulling on Anhydrous Amonia this fall and that was dinosar diesel. But I could pull on 140-160 acres a day too.

 

The anhydrous is just as bad, but, it's made with fuel too. We were runnin two smaller outfits, but got over about 160 acres a day with them too.

 

Exactly.

Gross income - Costs (wages, R&D, Tax, etc.) = Net Income (Profit)