Exxon Makes $104 Million In Profit Per Day So Far In 2012 ($1,300 in profits per second)

[kpete]

Source: Think Progress

Exxon Makes $104 Million In Profit Per Day So Far In 2012, While Americans Are Stuck With A Higher Gas Bill
By Rebecca Leber on Apr 26, 2012 at 10:08 am

Last year, ExxonMobil, one of the world’s most profitable companies, earned $1,300 in profits per second. As consumers paid record-high springtime gas prices, Exxon posted first quarter profits of $9.45 billion.

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

A by-the-numbers look shows how Exxon’s executives and Big Oil’s allies are rewarded generously for the company’s billions, while Americans are stuck with rising gas bills:

$9.45 billion profits, or almost $104 million per day in the first three months of the year.
13 percent: The tax rate Exxon paid last year, lower than the average American family.
60 percent of its first quarter earnings, or $5.7 billion, on buying back stock. Became world’s largest dividend payer by increasing dividends 21 percent.
$1,091,000: Political contributions sent to federal politicians for the 2012 election cycle, making it the largest oil and gas spender.
91% of these contributions went to Republicans.
More than $52,000,000: Lobbying for the first three years of the Obama presidency, 50 percent more than in the Bush Administration.
$34.9 million: Exxon CEO Rex Tillerson’s salary for 2011, a 20 percent raise.
$52,300: Political contributions from Exxon CEO Rex Tillerson in the 2012 cycle, alone.
No. 2: Fortune 500 list of richest companies and for highest-paid CEO.

Exxon not only used 60 percent of its Q1 profits to buy back its stocks, enriching executives and largest shareholders, but it funnels money through political groups like American Legislative Exchange Council (ALEC) and American Petroleum Institute, to influence legislation in its favor.

Read more: http://thinkprogress.org/climate/2012/04/26/471469/exxon-takes-104-million-profits-per-day-so-far-in-2012-while-americans-are-stuck-with-a-higher-gas-bill/

[Meiko]

1. As long as

I can still pay $5.00 a gallon for gas I'm OK with it.....OBSCENE!

[dotymed]

2. Rec'd for the info....not the reality...n/t

[Eddie Haskell]

3. Profit was down 10%

You heartless bastard!

[Scuba]

4. How much of that profit was tax rebates? Why are American workers forced to subsidize....

.... the most profitable industry in the history of commerce?

[bonniebgood]

7. Why?

until the American people start calling the word "subsidize" welfare for what it is and to understand the true definition of the subsidize. Subsidize taxpayer money given to private companies for good and services for them to cost people less. yet we taxpayers pay those taxes (subsidies) at the pump.
I do believe that if another republican gets the white house and pull a scott walker (Wis) the American people will finally hit the streets.

Kill all Welfare and unemployment benefits
Kill Medicare/Medicare/SS
Kill the department of education
Kill the post office
Kill all unions
kill all women rights
kill the EPA
Kill voting rights
Kill plan parenthood
I am sure some things are missing but you get the point. CUT is too soft a word. When REPUBLICAN say Cut they mean KILL.

[Scuba]

13. The subsidies I'm referring to aren't paid at the pump....

... these subsidies are taken out of payroll checks in the form of taxes and then redistributed to the wealthiest Americans and a bunch of foreigners who own stock in Exxon, etc.

[marshall gaines]

5. capitalism

capitalism really works....for corporations, while we the people keep getting screwed with high prices at the pump. What's up with that

[cbrer]

6. It's a good thing we subsidize them

The stock holders might starve in the meantime. And gas prices might reflect reality...

[AlbertCat]

8. 13 percent: The tax rate Exxon paid last year, lower than the average American family.

Well, at least they paid SOMETHING!


Mandatory 17% tax on corporations! (that's what Clinton did, I think)

[HotRodTuna]

11. Exxon doesn't have a monopoly on this - check your favorite search engine

"Apple paid a top tax rate of just 9.8 percent in 2011, the report says. Google paid a rate of 11.9 percent, while Yahoo paid 11.6 percent and Microsoft paid 18.9 percent. Xerox paid 7.3 percent of its income in taxes, while Amazon paid only 3.5 percent, according to the report. Huffington Post "

http://www.presstv.ir/usdetail/236707.html

[BanTheGOP]

9. And people think I'm too extreme when I want to ban the republican Party

This is extremely sad. A progressive society would not have energy companies controlled by elitists, but run by cooperatives of citizens who don't look at profit, but need. A sad, sad indication on society, and the ONLY solution is to ban its political protectorate, the republican Party.

[HotRodTuna]

10. Most of Exxon's profits come from overseas operations

but they still manage to pay over $1 billion a month in US taxes.

Just a little reality check on the profits/subsidies/taxes discussion.

[peacebird]

14. Links please? I would love to see the facts on taxes paid vs subsidies taken...

I have heard recently that congress refused to cut the subsidies taxpayers give to extremely profitable oil/gas companies.

[DallasNE]

12. These Earnings Were Actually "Disappointing"

They were below the same period last year, a key measure, even though revenue was up by $10 billion. There are indications in these numbers that the revenue of $124 billion was held back by the exceedingly warm weather, especially natural gas. Not mentioned is inventory -- the warm winter may have resulted in an inventory build up and that could delay the profits into the next period. Anyway, here are more details. The profits are still obscene.

http://money.msn.com/top-stocks/post.aspx?post=c6f02ba2-e97b-4a4c-a2bc-776f62ef9145

[Auntie Bush]

15. And tell me again why we have to subsidize the oil indurstry? nt