Truckers strike and now higher prices

[SNiebaum]

Last I checked Exxon is up about 25 percent in the last year.

You're going to need to source that...



In this 2008 congressional report, Exxon is credited with a return on sales of 10% with an industry average of 8%...



http://assets. opencrs.com/rpts/RL34437_20080404.pdf

 

[JDiepstra]

You're going to need to source that...



In this 2008 congressional report, Exxon is credited with a return on sales of 10% with an industry average of 8%...



http://assets. opencrs.com/rpts/RL34437_20080404.pdf

Ok, sure. Go to BigCharts.com and type in XOM, the symbol for Exxon. You will see that one year ago their stock was valued at $77. 04 and closed today at $95. 27.

 

[JFaulkner]

Gary, I see you said your not going to post in this thread anymore, which is fine but I'm sure you still going to read it. From every post you made here I see a pattern. You have an "entitlement" mentality. You for some reason feel that companies "owe" you something. You preach about living expenses, and the poor working man but what you fail to realize is those "winfall" profits (as you like to call them)are helping the working man. Actually they're helping any one with a retirement plan or 401K. The money corporations make does not (as much as you like to believe it does) go into Mr. Exxon's pocket. It goes to the shareholders, which by the way is the only people a publicly traded company cares about. It doesn't matter if it's an oil company or Proctor and Gamble. I know you want to live in a cotton candy, bubble gum world but these companies are in business to make money!!



Please tell me how much profit would be "OK" to you. If a less than 10% profit margin is too much then what's ok? I know I'm not going to work for that. If it's not the profit margins you don't like, is the the sales volume? Would you like them to sell less product so the numbers would be smaller? Would you prefer a foreign company to make the profit instead of Exxon? That's what's going to happen if the government tries to STEAL the profits from companies in the form of "winfall taxes". They're not going to stay here in the US if they can't make money. If it's ok to steal the profit's when the company is making money, is it then going to be ok to give them money when they don't?



Just for arguments sake: Before the merger Exxon was a HUGE company and Mobile was a HUGE company. If you put the 2 together you get a REALLY HUGE company with HUGE numbers. That includes profits and quantity of product sold.



Hbarlow, I have a strong feeling that facts have no place here. It doesn't "feel good" to people when the realize they have to take control of their own lives, especially if that means tightening their belts a little. They always look for the easiest place to point blame, in this case it's the oil companies. They completely miss the facts that the oil company margins have remained the same while the cost of oil has gone through the roof. I can only figure these people have never worked in manufacturing. The concept that if the price of the raw materials goes up, then price of the finished product goes up as well, is completely foreign to them. I'm just glad they're not in control of the country. (at least not yet)



p. s. don't call people names grandpa will get angry.

 

[SNiebaum]

Ok, sure. Go to BigCharts.com and type in XOM, the symbol for Exxon. You will see that one year ago their stock was valued at $77. 04 and closed today at $95. 27.

Stock value is not profit margin...

 

[HBarlow]

... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... .



Hbarlow, I have a strong feeling that facts have no place here. It doesn't "feel good" to people when the realize they have to take control of their own lives, especially if that means tightening their belts a little. They always look for the easiest place to point blame, in this case it's the oil companies. They completely miss the facts that the oil company margins have remained the same while the cost of oil has gone through the roof. I can only figure these people have never worked in manufacturing. The concept that if the price of the raw materials goes up, then price of the finished product goes up as well, is completely foreign to them. I'm just glad they're not in control of the country. (at least not yet)



p. s. don't call people names grandpa will get angry.

You're right. No matter how many posts here provide detailed facts and links to their source or explain things in their own words using good information and logic there are a few who ignore them, apparently prefering to stick to their wrong-headed beliefs that the evil rich and greedy corporations are conspiring to raise prices of motor fuels. I guess it is easier to believe in conspiracy theories than to understand simple facts and basic economics.



Yeah, I guess I was a little too harsh on the old man. I hurt his pride. He'll get over it and be back to express similar views in a different thread.

 

[FLynes]

... Hbarlow, I have a strong feeling that facts have no place here. It doesn't "feel good" to people when the realize they have to take control of their own lives, especially if that means tightening their belts a little...

Based on what I read, and seeing our individual frustrations, I think we can all agree that fuel prices just suck in general, and JFaulkner you're absolutely right about cinching in their belts, which is why I've throttled back to 55MPH... it's getting to the point where I can barely afford to drive my truck anymore.



I'm spending $115, on average, every week and a half to fill up. Those are the facts I'm concerned about, and those are the only facts which matter to me. I could give two Shiites (excuse the pun) about Big Oil profit.



I care about the fact that I've been in the Army for 17 years, and every President who's bragged about giving me payraises (Clinton was most famous for this) hasn't taken into account that inflation goes up a fraction higher than the pay raise I just got. That translates into worrying about budgeting for groceries and paying my bills, which includes LPG for my house (200 gal tank). This means staying home, rather than take the family out, like we used to.



That's what this whole thing translates to, for me.



I'll shut up now.

 

[HBarlow]

Fred,



Thank you, sincerely, for your service to our country.



I am retired Navy and all too familiar with the issue of pay v. inflation. Hang in there. When you are retirement age as I am you'll be glad you did. You'll never get rich in uniform but the security you earn is worth the sacrifice.

 

[FLynes]

Yeah, I keep telling myself that everyday. They say the last five years go by the fastest, but it seems like the first 17 went by quicker.

 

[BarryG]

Well this thread has some interesting reading and definitely various viewpoints. The point about % of profit has come up and with very little research you can easily find what a company nets for its troubles.



Below is link for Shell's Income statement for 2007 by qtr.



Answers.com



As you can see well if you add up the qtrs that they had revenue of over$355billion and a net income(net income is after taxes) of over $31 billion. That is a net profit of 8. 8%. That is not shabby for just about any company.



Below is a link to Exxon's Income Statement

XOM: Income Statement for EXXON MOBIL CP - Yahoo! Finance

over $400billion in revenue and over $40billion in net profit which is just over 10% net.



Now for a non oil company comparision

Proctor and Gamble

PG: Income Statement for PROCTER GAMBLE CO - Yahoo! Finance

over $21billion in revenue and over $3. 2billion net profit which is 15%



Altria Group(formerly Phillip Morris)

MO: Income Statement for ALTRIA GROUP INC - Yahoo! Finance

Just shy of $74billion in revenue with just shy of $10billion in net profit which is over 13% net



Lets do just one more everyones favorite WALMART

WMT: Income Statement for WAL MART STORES - Yahoo! Finance

with over $378billion in revenue and over $12billion in net profit which is just under 3. 2%



So while the oil companies are certainly not hurting in the net profit area they are by no means going above and beyond in that area as you can see from a couple of other global players that do significantly better but there are others such as Walmart who get along pretty darn well on significantly less.



So what is my point - nothing except that oil profits are better than some but worse than other multinational companies.

 

[JDiepstra]

Stock value is not profit margin...

That is true but the post I was responding to was talking about stockholders investing their life savings and getting a meager 10% return. In that case we are talking about stock returns. Thanks... .

 

[JCrockett]

I have found a solution to the price of fuel... ... ... ... thought I would add a little humor to an ever depressing subject. Hope no one minds:-laf

 

[Grizzly]

I have found a solution to the price of fuel... ... ... ... thought I would add a little humor to an ever depressing subject. Hope no one minds:-laf

I think it's funny. We could use a little humor with all this depressing fuel situation.



My wife and I got lost in Wasilla, AK two years ago. Just made a wrong turn, but we quickly figures it out. We sure liked Alaska in the two trips we have made. We were planning another trip this summer, but with the high cost of diesel we decided to put it off.

 

[steved]

I think it's funny. We could use a little humor with all this depressing fuel situation.

Hang onto your hats... the price of hops went from $3/pound to around $25/pound since everyone is growing corn!!! It'll be cheaper for a bottle of whiskey!

 

[fourwheel1]

Supply and demand does not have as much to do with it as trading it as a commodity on the stock market. Thats when the price went sky high. Take it off the commodity markets and let supply and demand set the prices again.

 

[JCoffey]

Fred,



If you are going to be driving 55mph stay off the loop around San Angelo where I will be doing 65. Just joking!



You said you are active duty Army? Are you currently stationed at Fort Concho or Goodfellow? Seems like I meet every branch of service except Air Force stationed at Goodfellow. I was in the Navy for six years from 83-89 but not at Goodfellow.



I have started driving a little slower on the weekends myself since I drive all week for my job. My wife says I drive like an old grandmother. I tell her it is just so everyone else will have more time to check out my '02 or '06 Cummins.



We'll have to get together sometime and meet for a soda or something. I live out by Lowake.



James

 

[FLynes]

James,



Unfortunately I do have to drive the Loop, but only for a little bit; I come down 67S and get off at the Pulliam exit and go to Goodfellow. Every once in a while I will go out Bell St. and get on the Loop, but that's when I need to go to Palmer and get hay for the horses. You've probably seen me toodling around... can't miss me, black dually with Mopar diamond plate running boards and bed rails and a diamond plate TSC box.



We've probably driven by each other... I see quite a few Rams running around.

 

[pwr2tow]

If we would have done nothing back in the 70's we would have been paying more for energy in the 80's and 90's yet Big oil survived without the high prices.

To sit back and do nothing will get the same results, Nothing.

Seems some are content to explain away our problems while continueing to let them get worse.

Suffer a little now to make it better in the future. That's what our forfathers did. Or let thing continue as status until it breaks from desperation.

I would rather try do something now than to wait until desperation sets in, desperate people do desperate things!!

10% of $100,000 is one thing 10% of Billions is gougeing. Price per barrel goes up, 10 minutes later the stations are upping the price. The price of the barrel of oil turned into energy shouldn't see a price increase for a few weeks yet it goes up instantly.

Flame away, I've been called bonkers before.

 

[HBarlow]

If we would have done nothing back in the 70's we would have been paying more for energy in the 80's and 90's yet Big oil survived without the high prices.



To sit back and do nothing will get the same results, Nothing.



Seems some are content to explain away our problems while continueing to let them get worse.



Suffer a little now to make it better in the future. That's what our forfathers did. Or let thing continue as status until it breaks from desperation.



I would rather try do something now than to wait until desperation sets in, desperate people do desperate things!!



10% of $100,000 is one thing 10% of Billions is gougeing. Price per barrel goes up, 10 minutes later the stations are upping the price. The price of the barrel of oil turned into energy shouldn't see a price increase for a few weeks yet it goes up instantly.



Flame away, I've been called bonkers before.

I wonder if your opinion would be the same if you worked in the oil industry or had invested in oil company stock as part of a retirement plan.

 

[pwr2tow]

I wonder if your opinion would be the same if you worked in the oil industry or had invested in oil company stock as part of a retirement plan.

Say what you want, I do know that 4 years ago when we negotiated wage increases to realign wages to be fair across the board I proposed my wages stay the same while increasing others wages substancually.

Sometimes you have to give to gain.

 

[pwr2tow]

I forgot to mention, as far as being linked to oil. See my first post on this thread.