Record Profits being reported already!

[john3976]

ConocoPhillips Reports Record Oil Profits



(CBS) NEW YORK ConocoPhillips, the nation's third-largest oil and gas producer, said Wednesday that its profits rose 13 percent as stronger exploration and production results yielded the best first-quarter earnings since Phillips Petroleum Co. and Conoco Inc. combined in 2002.



Net income jumped to $3. 29 billion, or $2. 34 per share for the January-March period, from $2. 91 billion, or $2. 05 per share, in the year-earlier period. Those results were in line with analysts' expectations, according to Thomson Financial.



ConocoPhillips is the first of the three largest U. S. oil companies to report earnings this week. Exxon Mobil Corp. reports Thursday and Chevron Corp. on Friday. The three were expected this week to report a total of more than $16 billion in first-quarter profits.



http://cbs11tv.com/topstories/topstories_story_116173847.html

 

[Huskerman]

Still wearing the tinfoil hat I see John. How come you won't come post over on my thread how much you and your company makes so we can debate it????



Huskerman

 

[macdaddy]

John



Working for a major oil company, the one mentioned above. It's hard to bite my lip and try to stay out of all this rhetoric, but thats exactly what I plan on doing.



Just try pricing a gallon of diesel in the UK , and you will relax.



No flame suits required!!



Mac

 

[Shrimpy]

Exactly Mac. He (johnny) forgets one very important part in his quest to BLAME OTHERS FOR HIS POOR OUTCOME IN LIFE, that of GROSS vs. NET Profit.



Exxon (since this is his really favorite whipping boy) posted $8. 4 billion profit on $89 billion gross (figures released this morning). Some quick math tells me that is a return of 9. 43% on their investment.





Just saw Conoco's numbers..... $47. 9 billion gross vs $3. 3 billion net. johnny boy should be writing a check back to Conoco/Phillips because they only returned 6. 88% on their investment. If he has any money for retirement, I bet he would be screaming like a new born if his investment guy returned ONLY 6. 88% :-laf





You decide... ... ... ... ... ... ... is 9. 43% or 6. 88% OBSCENE. johnny boy thinks so :{





Jim

 

[biggieou]

John's posts get one thing from me..... a huge YAAAAAAAAWWWN. Same stuff different day with him.

 

[john3976]

Is Exxon trying to drop into Damage Control Mode?



Exxon Mobil Corp. , the world's largest oil company, reported Thursday the fifth highest quarterly profit for any public company in history, posting gains from higher oil prices that were likely to stoke the furor over outsized oil company earnings.



Despite the 7 percent gain in earnings to more than $8 billion in the first quarter, Exxon Mobil said its earnings came in below its record fourth-quarter because all three of its business _ exploration and production; refining; chemicals _ didn't perform as well.







The earnings report comes amid consumer outcry in the U. S. about soaring gasoline prices. The average retail price of gasoline in the U. S. is now $2. 91 a gallon, or 68 cents higher than a year ago.



It also comes as Washington lawmakers are looking to appease consumers with various proposals to make big oil companies pay more taxes or provide consumers with some other relief.



In January, Exxon posted the highest quarterly profits of any public company in history: $10. 71 billion for the fourth quarter of 2005 and $36. 13 billion for the full year.



In the first quarter, net income rose to $8. 4 billion, or $1. 37 per share, from $7. 86 billion, or $1. 22 per share, a year ago. Excluding a gain on the sale of an interest in China's Sinopec, the company's year-ago profit was $7. 4 billion, or $1. 15 per share.



But analysts polled by Thomson Financial were looking for a higher profit of $1. 47 per share for the latest quarter, and shares fell $1. 02, or 1. 6 percent, to $62. 08 in morning trading on the New York Stock Exchange.



Howard Silverblatt, a senior index analyst for Standard & Poor's, said the latest profit figure still places Exxon fifth historically among quarterly earnings. Exxon also holds the first, second and fourth spots; Royal Dutch Shell PLC has the third spot.

 

[john3976]

Revenue grew to $88. 98 billion from $82. 05 billion a year earlier. Higher crude oil and natural gas prices and improved marketing margins were partly offset by lower chemical margins.



Placed in perspective, Exxon's revenue for the three-month period was still greater than the annual gross domestic product of some major oil producing nations, including the United Arab Emirates ($74. 67 billion) and Kuwait ($55. 31 billion), according to statistics maintained by the Central Intelligence Agency.

Exxon said it invested $4. 8 billion in capital and exploration projects, a 41 percent increase from 2005.

 

[john3976]

Exactly Mac. He (johnny) forgets one very important part in his quest to BLAME OTHERS FOR HIS POOR OUTCOME IN LIFE, that of GROSS vs. NET Profit.



Exxon (since this is his really favorite whipping boy) posted $8. 4 billion profit on $89 billion gross (figures released this morning). Some quick math tells me that is a return of 9. 43% on their investment.





Just saw Conoco's numbers..... $47. 9 billion gross vs $3. 3 billion net. johnny boy should be writing a check back to Conoco/Phillips because they only returned 6. 88% on their investment. If he has any money for retirement, I bet he would be screaming like a new born if his investment guy returned ONLY 6. 88% :-laf





You decide... ... ... ... ... ... ... is 9. 43% or 6. 88% OBSCENE. johnny boy thinks so :{





Jim

When 9. 43% and 6. 88% are breaking all records for every type of business in the United States, and they are recording profits so high into the Billions that they could never spend it all, then yes they can afford to make less on there percent of profit.



Big Oils current record profits are hurting Americans, and that my friend is not acceptable for a business that is making profits so big they are obscene, they can afford to lower their percent of profit and still make Billions in profit with out destroying American families.



Where you kicked in the head by a mule when you were a kid?

 

[PKitzman]

Shame on those nasty companies for making a profit. Let's tax the **** out of them and give it to the bums on the street corner who don't want to earn a living... that will fix things.

 

[Shrimpy]

When 9. 43% and 6. 88% are breaking all records for every type of business in the United States, and they are recording profits so high into the Billions that they could never spend it all, then yes they can afford to make less on there percent of profit.



Big Oils current record profits are hurting Americans, and that my friend is not acceptable for a business that is making profits so big they are obscene, they can afford to lower their percent of profit and still make Billions in profit with out destroying American families.



Where you kicked in the head by a mule when you were a kid?

I rest my case... ... ... ... Your Socialist Party Of America membership card is in the mail. Carry it proudly Comrade



Jim

 

[john3976]

I rest my case... ... ... ... Your Socialist Party Of America membership card is in the mail. Carry it proudly Comrade



Jim

You know maybe the Socialist Party would not be so bad, I hear the first thing they do is shoot all the attorneys and CEO's.



Now that would be a start.

 

[john3976]

Shame on those nasty companies for making a profit. Let's tax the **** out of them and give it to the bums on the street corner who don't want to earn a living... that will fix things.

Where have you ever read that I have said to tax them more?



I have said that they can afford to lower their percent of profit from their current 10% down to 5% and Exxon would have still made 18 Billion dollars, but we can't have that can we.



Exxon just posted higher sales and yet their profit was down a little, hum, are they now in hide the profit mode?



Sales are up but profits are falling?



Yeah right Exxon, Big Oil has no one but themselves to blame when they get regulated after the back door job they have been doing to Americans.

 

[john3976]

Shame on those nasty companies for making a profit. Let's tax the **** out of them and give it to the bums on the street corner who don't want to earn a living... that will fix things.

One other thing, just because they can charge the prices they do and make the profits they are making does not mean it is the right thing to do.



How many smaller businesses have went under due to the high cost of fuel?



What do you tell them? To bad so sad?



What about the people they employed?



Is maximum profit so important for Big Oil that they can destroy many businesses and put people out of work just because you think that if they can rake in 50 Billion this year, that they should do it even if it puts the country into a recession and causes thousands of small businesses to close up shop and put hundreds of thousands of people out of work?



But hey at least you can brag that Big Oil set yet more records for profits, right?

 

[Shrimpy]

Hey Einstein, when you TAKE something that belongs to another it is THEFT.

When you force by TAXATION someone to give something to another that they did not in ANY WAY earn, it is Socialist Re-Distribution.



So which side of the coin do YOU claim (to anyone who reads this reply).



As someone further up said, in a few years the Oils will be back off the radar because some enterprising individuals will come up with a way to harness alternative energy to power transportation. We (Diesel Heads) may not like it, but I will be the first to agree with another poster who said... ... . "Big Oil is having it's day now, but the future will NOT be this rosy"... .....



Also john, companies fail EVERYDAY in this country. I will be willing to bet there were companies who failed 5-6 years ago when the Tech Bubble finally failed. Who do we blame that on?????? For evey company that fails there is another waiting in line to take their place. It is the driving force of this country. Be your own boss. Do you have the stones to risk it all for the possibility of living your life on YOUR terms?????



Jim

 

[dezeldog]

Shrimp, since you seem to have all the right answers I'll let you figure it out.



Jim

 

[RustyJC]

Yeah right Exxon, Big Oil has no one but themselves to blame when they get regulated after the back door job they have been doing to Americans.

That starts a slide down a long and slippery slope. A number of American companies have reincorporated in the Bahamas, the Cayman Islands and other offshore locations because of the U. S. corporate tax structure and "regulations". Would you prefer to deal with "big oil" as offshore rather than American corporations?



And, by the way, I lived through the 70s - the Arab oil embargo, price controls, fuel shortages, etc. Been there, done that, don't care to do it again.



Rusty

 

[Jeepmullet]

I just want to know who opens the 20 million barrels of oil a day.

 

[nps]

I just want to know who opens the 20 million barrels of oil a day.

That's why most of the refineries are in the Mexican border states near the cheap labor so they can produce these record profits. :-laf

 

[john3976]

Chevron Earnings Soar 49 Percent to $4 Billion



By MICHAEL LIEDTKE, AP Business Writer

Fri Apr 28, 10:20 AM ET







SAN RAMON, Calif. - Chevron Corp. 's first-quarter profit soared 49 percent to $4 billion, joining the procession of U. S. oil companies to report colossal earnings as lawmakers consider ways to pacify motorists agitated about rising gas prices.



Chevron released its results Friday after two of its biggest rivals, ConocoPhillips and Exxon Mobil Corp. , already provoked public outrage with similarly large first-quarter profits. Combined, the three oil companies earned $15. 7 billion during the first three months of the year.

 

[john3976]

Wow, 15. 7 Billion in just three months, the three oil companies are on a pace make 62. 8 Billion dollars in profit this year, that is just three of the oil companies. Forget about what the smaller ones are making and boy just think Shell and BP make almost as much as Exxon does each year so between those five companies, Exxon, Chevron, Conoco, Shell and BP they are looking at making 94. 2 Billion dollars off of motorist this year, and again that does not count all of the smaller oil companies that are recording record profits into the Billions as well, I bet with all of the companies combined motorists are looking at providing a good 130 Billion dollars to Big Oil in pure after all expenses have been paid profit.