Wanna guess how much 2005 profit was made by just three Big Oil Companies?

[john3976]

Exxon's profit for the year was also the largest annual reported net income in U. S. history, according to Howard Silverblatt, a stock market analyst for Standard & Poor's. He said the previous high was Exxon's $25. 3 billion profit in 2004.



Exxon's results lifted the combined 2005 profits for the country's three largest integrated oil companies to more than $63 billion.



ConocoPhillips said last Wednesday that its fourth-quarter earnings rose 51 percent to $3. 68 billion, while annual income climbed 66 percent to $13. 53 billion. Two days later, Chevron Corp. said its fourth-quarter earnings rose 20 percent to $4. 14 billion, while annual income jumped 6 percent to $14. 1 billion.



63 Billion in profits and that is just three of the oil companies, Exxon, ConocoPhillips and Chevron. Add in all the other Big Oil Companies and I bet we are looking at close to 175 Billion dollars of profit for Big Oil in 2005.



Now where I come from that is a lot of money!

 

[john3976]

Or you can look at it this way Exxon alone has made over 61 Billion dollars in profits in the last two years and after this year is over they will more then likely top 100 Billion dollars in profit for 2004, 2005 and 2006 combind.



But there are those who think Big oil is fair and you and I are not being fair to Big Oil.



One company Exxon/Mobil over 61 BILLION dollars in profit in just two years, but you don't deserve a break at the pump, after all they have more fat cats to give 400 million dollar pensions to.

 

[DonTX]

And remember, profit is what is left over AFTER ALL THE FAT CATS get their share at the hog trough.

 

[mattymac]

Thats just what they show on paper! They fudge it really bad on paper, I bet they made 200-300 billion!



I have a friend who retired from EM and he told me one year they lost 80 something? Billion dollars this year (in the early 70's) and all the big executives got a 20K tax free bonus for the quarter to try and hide some of the profits on paper.



My same friend said the way it works is the government says oil should cost $45. 00 if they sell it for $30 they write the $15 per barrel off as a loss. But it only takes $5. 00 to produce a barrel, so they are still making $25 per barrel, and loosing money on paper!



What they make on paper and what they hide and write off are two totally diffrent fugures.

 

[fox]

Hugh numbers!!

What is the % profit? 10% ???

What are they doing for future oil/ fuel needs?



I think what we are seeing is this.

They ( the oil companies) the need to conserve/reduce our uses, and feel the best way is too force it by high prices. Most of the younger generations have been taught this.



Maybe it is right, but I know it sure is hurting most all of us.

I have been walking to work, it saves a little.

 

[nps]

The big profit money right now is in producing crude oil. Refining and distribution profits are not directly affected by the market price for crude. However the US imports much of it's crude - it is not all pumped out by the 'Big 3'. In addition the whole world is buying crude - maybe not from the same sources as the US, but the oil produced by the Saudis that is not purchased by the US is available for sale to Japan or China - so all crude producers are getting a windfall right now.



A few in here moan about big profits for US oil companies. Yet they are too naive to wonder what Iran, the radical elements in Saudi, and our good friend down in Venezuela are planning on doing with their record profits. Don't you think they are hitting the big time also? Look beyond your own wallet - we already know that Iran is financing their bomb. What is Chavez up to?



These threads really need to be in the Political forum. Calling for government regulation of a private industry really has little to do with General Diesel issues.

 

[Jaysyl]

They paid 3 times there profit in taxes, to BIG GOVERMENT. :--) :--)

 

[wcaldwell]

I don't have the numbers, but to add to the initial question:



Wanna guess how much profit the credit card companies and insurance companies made during this same time period???



We're all paying these costs too. Just food for thought.



Wayne

 

[Gary - K7GLD]

Just imagine the benefit to this country, if Big Oil was forced to plow back just *10%* of that profit into alternative/bio fuels!



If they won't do it voluntarily - take the money from them and assign it to qualified competitors under strict regulation and controls - and see what happens.



Either way, Big Oil still (in this case) keeps 90% of their profit - lessee, what IS 90% of 60 some odd billion dollars... :-laf

 

[MKoth]

Last I knew, the .gov made more per gallon of gas sold , through taxes, then the oil companies themselves do.

 

[Shrimpy]

Watch out MKoth... ... ... ... . You are confusing all the 4th grade economist with all of that double talk gibberish . Besides, you would have to have your facts approved by the local socialist party for these guys to give it any credence... ... ... ...



Jim

 

[AMink]

Just imagine the benefit to this country, if Big Oil was forced to plow back just *10%* of that profit into alternative/bio fuels!

I have a feeling that if this were to happen, our price at the pump would go up to cover that 10% loss. Let's say they make $100 and have to put $10 back. They will shoot to make $112 and give back $11. 20 and make . 80 more! And we'll end up paying the difference. They won't "lose" money. JMO

 

[Huskerman]

Matt,



Try not to confuse John with any facts. Stick conspiracy theories if you want him to keep up.



You know, how "Big Oil" is paying "Big Auto" not to release the 100 mpg carb, things like that.



The real title of this thread should be "wanna guess how long John cries about fuel prices?"



HEY JOHN, WHAT DO YOU DO FOR A LIVING??? I want to know so that I can figure out if you are making a reasonable salary or not. You tell me what you make and I will tell you if its reasonable or not.



Huskerman