Mission Accomplished: Exxon-Mobil profit $40.6B

[boutons_]

http://rawstory.com/news/afp/ExxonMobil_posts_record_40_6_bln_dl_02012008.html

7 years of dickhead's still secret National Energy Policy (aka invade Iraq and de-stabilize M/E, then Iran) and no effective plan to reduce oil consumption.

[101A]

Just as Wal-Mart's meteoric rise during the Clinton admin was: just a coincidence; nothing to see here.

[boutons_]

Wal-mart got ahead by predatory tactics and excellent logistics and paying sub-poverty wages, engineering well-paying jobs to a minimum, not via Clinton connections.

What exactly did the Clintons do to promote Wal-mart?

[DarkReign]

What exactly did the Clintons do to promote Wal-mart?

Well, I can say this, Clintons didnt declare war in the region of Wal Mart's primary source of product.

[1369]

Well, I can say this, Clintons didnt declare war in the region of Wal Mart's primary source of product.

Well, duh, if they did that who would make the products?

[101A]

Wal-mart got ahead by predatory tactics and excellent logistics and paying sub-poverty wages, engineering well-paying jobs to a minimum, not via Clinton connections.

What exactly did the Clintons do to promote Wal-mart?Most Favored Nation China - while there were still warm bodies in Tiananmen sqaure.

But, again, the growth just must be a coincidence. Arkansas company, Hillary on the board of directors; there stock grows exponentially; record profits while the Clintons are in the WH.

[101A]

Well, duh, if they did that who would make the products?I have a $4.00 christmas tree stand I bought at Wal-Mart in 1993.

Made in USA.

[1369]

101A, you should keep that bad boy, anything sold by Wal-Mart that was made in the US has got to be worth something.

[101A]

101A, you should keep that bad boy, anything sold by Wal-Mart that was made in the US has got to be worth something.Amen to THAT.

When Social Security goes broke, I'll still have that red and green treasure to retire on.

[johnsmith]

Exxon-Mobil made billions...........must be Bush's fault.

[xrayzebra]

Hey boutons, Tesoro lost money. Bet you bought some of their
stock didn't you? 40 Mil in 4Q. You going to through a party?

[Wild Cobra]

101A, you should keep that bad boy, anything sold by Wal-Mart that was made in the US has got to be worth something.
I see you don't shop at wal-mart. They do have other items even today that are made in the USA!

[Wild Cobra]

That means they probaly paid $28.7 billion in taxes, $800 million more than the year before. You tax loving liberals should be estatic!

[boutons_]

I'm sure Exxon will pay way less than the max corp tax rate, after all the write-offs, depreciation, subsidies, grants, lease royalties uncollected, etc, etc from the oil men in the WH.

If Warren Buffet pays only 17%, way under what his secretary pays, I'm sure Exxon know how to figure out how pay under 20%.

[BonnerDynasty]

Don't worry Boutons. Hillary will be going after those capital gains tax rates soon enough.

That'll really screw the middle cl eerrrrrrrr wealthy...

[PEP]

Didnt the Clinton administration give China our nuclear secrets or was it something else? Or was it that agreement with Kim Jong Ill that we gave them some nuclear reactor stuff and they promised not to make weapons?

[Holt's Cat]

I'm sure Exxon will pay way less than the max corp tax rate, after all the write-offs, depreciation, subsidies, grants, lease royalties uncollected, etc, etc from the oil men in the WH.

If Warren Buffet pays only 17%, way under what his secretary pays, I'm sure Exxon know how to figure out how pay under 20%.

How much is that secretary making?

[Wild Cobra]

I'm sure Exxon will pay way less than the max corp tax rate, after all the write-offs, depreciation, subsidies, grants, lease royalties uncollected, etc, etc from the oil men in the WH.

If Warren Buffet pays only 17%, way under what his secretary pays, I'm sure Exxon know how to figure out how pay under 20%.
Lemming alert... You fell for that one? That is percentage. You probably realize that. However, Buffet's income is from different sources like dividends and capital gains. He also doesn't pay the 7.45% payroll tax. His secretary would be lower percentage wise if she didn't have to pay the payroll tax.

Most people who actually pay taxes, have write offs.

Want to eliminate write off? Lets say you cannot deduct medical, college, interest on a house, etc. How would the people react to you hating write off?

Now a little more realistic. Exxon's 2007 number should be about proportional to their 2006 numbers. I haven't seen the complete 2007 data, so consider the 2006 data:

Exxon had a revenue of $377.635 billion They had a net income of $39.5 billion which is a 10.46% margin. This 10.46% last time I looked was in the bottom third for profit margins within the Fortune 500. They paid $29.902 billion in taxes, or 7.39%. 70.74% as much in taxes as their net profit.

It cost Exxon $213.255 billion to make that gross revenue. That makes their gross profit $164.38 billion. Of this, they paid a tax rate of 16.97%.

When you subtract various operating expenses, their taxable income is now $67.402 billion. The tax rate on this is 41.4%. I'll bet that it is 35% federal, and 6.4% state and other taxes.

You cannot be expected to pay 35% from a revenue standpoint. If they paid 35% of their revenue, they would pay $132.172 billion in taxes. They would have only a 3.221 Billion gross profit. Their net income would have been a loss of $6.307 billion after paying normal expenses. I guess you want all the oil companies o go bankrupt so we no longer have gasoline?

If they paid 35% of the gross profit, it would be $57.533 billion. Their profit would be down to $9.869 billion. Would that make you happy? That makes their profit margin only 2.61%. Corporations don't stay alive with such low numbers.

[GaryJohnston]

Well, I can say this, Clintons didnt declare war in the region of Wal Mart's primary source of product.


You should look up how much oil we import from Iraq, compared to everywhere else. Seriously, look it up.

[spurster]

So why is it we need to extend the tax cuts for rich when they are paying a smaller percentage then the rest of us?

[Wild Cobra]

You should look up how much oil we import from Iraq, compared to everywhere else. Seriously, look it up.
Yep...

When you look at it from a crude oil perspective, Iraq contributes about 4%. It is our 6th source for imports.

November 2007 graph:

http://www.heritage.org/Research/EnergyandEnvironment/images/EC_2_lg.gif

Consider this. From some countries, we get refined products too. The percentage drops to 3% from Iraq when you look at it in those terms, the petroleum and crude standpoint instead of just crude oil.

[Wild Cobra]

So why is it we need to extend the tax cuts for rich when they are paying a smaller percentage then the rest of us?
First of all, not all of them do. It depends on their income source.

Many of them are being double taxed. Income from stocks, as a shareholder, they already paid corporate taxes, and their profit was already reduced. Now they pay a capital gains tax on their dividends too? Realistically, they are paying more. It's just hidden.

I can agree with no limit of the Social Security tax, but many don't pay that because it is not a payroll check many rich get their income from.

I would personally like to see everyone pay the same percentage on income. Still, this "get the rich" band wagon many of you are in is moronic. They still pay far more than we likely ever will in one year, than we make in a lifetime. The fact they pay more, isn't that enough?

There are so many situations that are different. I do agree with a low capital gains tax because it encourages growth. I would advocate a zero tax rate on dividends, because like I said, the stock profits were already taxed.

[inconvertible]

can't you see that the oil compaines are the ones raising gas prices, by funneling the oil. they say there are not a lot enough refiniries, but drag their feet to build more. it is in their best interest to make refined gasoline harder to get to consumers....ergo......$$$$$$$$$$$$$$$$$$$$$$$$$$$ $$$$$...............in profits.

[PEP]

When we will be using DeLoreans that run off of garbage?

[2centsworth]

You should look up how much oil we import from Iraq, compared to everywhere else. Seriously, look it up.
We don't need no facts in here.:smokin

[Aggie Hoopsfan]

they say there are not a lot enough refiniries, but drag their feet to build more

It's not that they drag their feet, it's that the lame ass liberal tree hugger folk have put up so much damn red tape to build a new one, it'd be easier for Osama bin Laden to fly commercial to the U.S. than to build a new refinery in this country.

Here's some light reading for you:

http://www.arizonacleanfuels.com/index.htm

It's taken them over six years of fighting court battles, permitting, and legal studies just to get where they are at (and nowhere near being ready to start producing gasoline).


boutons - yep, this is all W's fault. His grand plan 20-30 years ago to have people in China and India start popping out kids left and right to raise their populations and the subsequent increase in automobile ownership and fuel consumption is finally coming to fruition.

What a clever one he is :rolleyes

[DarkReign]

You should look up how much oil we import from Iraq, compared to everywhere else. Seriously, look it up.

Seriously, you should read what I wrote before posting.

"...declare in the region..."

[DarkReign]

We don't need no facts in here.:smokin

Wow, so you are all reading averse?

[2centsworth]

Wow, so you are all reading averse?
you said region, but you also said primary source. It's obvious our primary source is NORTH AMERICA!!!

[xrayzebra]

I still wonder why boutons has responded to Tesoro losing
money in the fourth quarter. Maybe he is still partying.

[boutons_]

So Aggie would welcome a dirty coal-fired plant, or nuclear plant, looming over his home or over his kids' schools. noted. NimbyWorld is open for business everyday.

The demographics and resource consumption of China and India, and of the entire planet, have been known with increasing accuracy for many decades.

It's obvious to any observer that oil demand is expected to outstrip oil supply at some point, sooner rather than later. dubya and Repugs, as purchased by the corps, have done effectively nothing to reduce per capita US oil consumption, even making the world much worse off with the corn-ethanol boondoggle, while giving 10s of $Bs annually to the energyco's for "research".

[PEP]

So Aggie would welcome a dirty coal-fired plant, or nuclear plant, looming over his home or over his kids' schools. noted. NimbyWorld is open for business everyday.

The demographics and resource consumption of China and India, and of the entire planet, have been known with increasing accuracy for many decades.

It's obvious to any observer that oil demand is expected to outstrip oil supply at some point, sooner rather than later. dubya and Repugs, as purchased by the corps, have done effectively nothing to reduce per capita US oil consumption, even making the world much worse off with the corn-ethanol boondoggle, while giving 10s of $Bs annually to the energyco's for "research".
Explain to me what Clinton did in his 8 years in office to "reduce oil consumption"? Or what the next Democrat/Republican in office will do......absolutely nothing.

[Aggie Hoopsfan]

dubya and Repugs, as purchased by the corps, have done effectively nothing to reduce per capita US oil consumption, even making the world much worse off with the corn-ethanol boondoggle, while giving 10s of $Bs annually to the energyco's for "research"

Look, I know you're dumb but...

it's your democraptic buddies in Congress who have put up all the frickin' environmental roadblocks to building new refineries. Don't blame this on W. and Republicans, liberals have been cockblocking new refineries for nearly three decades now.

Nimbyworld? :lol You've already got significant refinery infrastructure in place outside of Houston, it'd be easy to add to what's already there.

Did you read the Arizona refinery link I posted above? They moved it away from the population base in their state. It doesn't have anything to do with nimby. Land is cheaper away from population centers, and there's nothing wrong with building our 'dirtier' infrastructure outside of our population bases.

I guess if you had it your way there'd be a nuclear reactor in the middle of every major city with a big bullseye on it for al Qaeda :lol

The good news is that the lib tree hugger folk seem to be warming up to nuclear, guess we'll find out how committed they are as the South Texas Nuclear Plant has applied for permitting to build two new nuclear reactors.

As to the corn-ethanol problem, you prove you don't have a fucking clue about that one by blaming it on Bush and "Repugs". BOTH sides of the aisle railroaded that one through on the American public, let's not get revisionist here croutons.

That policy does suck, but that's what happens with all the lobbying in D.C. Of course, the EU, China, and others are also mandating greater percentages of ethanol in their fuels, so the world as a whole is going to continue feel the ethanol crunch.

But don't let that stop your limp wristed attacks on the Repubs, you don't have any credibility on this board anyway so carry on with your baseless rants.

[DarkReign]

you said region, but you also said primary source. It's obvious our primary source is NORTH AMERICA!!!

Meh, its a wash.

Mexico/Canada = 33%

Middle East = 21%

Africa = 21%

Central/South America = 18%

Various/Domestic = 7%




Saudi Arabia alone provides 14%. 98% of all Saudi production is exported into America.

[GaryJohnston]

Seriously, you should read what I wrote before posting.

"...declare in the region..."

Seriously, when you mention war, you mean Iraq. Don't back track and try to skew your words after you were made to look ignorant.


:nope

[DarkReign]

Seriously, when you mention war, you mean Iraq. Don't back track and try to skew your words after you were made to look ignorant.


:nope

Seriously, no I didnt. I mean what I say, insinuation is reserved for those with other peoples hands up their asses.

[2centsworth]

Meh, its a wash.

Mexico/Canada = 33%

Middle East = 21%

Africa = 21%

Central/South America = 18%

Various/Domestic = 7%




Saudi Arabia alone provides 14%. 98% of all Saudi production is exported into America.
just admit you're wrong. 21% from the middle east doesn't represent primary source. it's a 1/5th. also, why leave out domestic production out of your analysis? that takes north america up to 65%!!! You're frustrating because you can write arguments that sound great, but this isn't the first time your argument is devoid of facts.

[xrayzebra]

Ah come on boutons. Give us a small comment on Tesoro losing
money. Hey they are an oil company too. Losing money doesn't
count, it is only when they make money that it is wrong.

[DarkReign]

just admit you're wrong. 21% from the middle east doesn't represent primary source. it's a 1/5th. also, why leave out domestic production out of your analysis? that takes north america up to 65%!!!

Fair enough. Since I actually have to type out the words "I was wrong" for you to believe it happened, there ya go.


You're frustrating because you can write arguments that sound great, but this isn't the first time your argument is devoid of facts.

Blow me. Its called making mistakes, and I treat ST as an opinion forum....I try to recall things as best I can from memory, and cite sources that may (or may not in some cases) to back it up.

Every time I post in here, its not like I have one window for ST and another with Wiki/Google/Washington Post. I dont take it that seriously.

[LaMarcus Bryant]

http://rawstory.com/news/afp/ExxonMobil_posts_record_40_6_bln_dl_02012008.html

7 years of dickhead's still secret National Energy Policy (aka invade Iraq and de-stabilize M/E, then Iran) and no effective plan to reduce oil consumption.

:lmao
When i heard about this a few days ago the 6th thing to pop into my mind was that boutons____ would post this as an anti-shrub post in the political forum.

[boutons_]

So America's problem with gasoline consumption is that it doesn't have enough refineries? and you call me dumb?

The oilcos have been hesitating to build new refiniries due the dubya fucking around and fucking up subsizing corn-ethanol such that demand for gasoline is unclear, AND the refiners are quite happy to have their refinery supply restricted for whatever reason as it allows them to raise the price and refining margins at the refinery gates.

[Aggie Hoopsfan]

So America's problem with gasoline consumption is that it doesn't have enough refineries? and you call me dumb?

The oilcos have been hesitating to build new refiniries due the dubya fucking around and fucking up subsizing corn-ethanol such that demand for gasoline is unclear, AND the refiners are quite happy to have their refinery supply restricted for whatever reason as it allows them to raise the price and refining margins at the refinery gates.

Can you read?

[xrayzebra]

^^boutons has a real reading comprehension problem. And
besides you didn't use enough profanity, so he wasn't sure
what you said.