Exxon Mobil Robbing Country Blind 2nd Q Profits $8.8 Billion

[mitty14u2]

Well America how does it feel to know Big Oil has bought Washington, has the power to influence wars such as the great Bush administrations floundering catastrophe with oil men at the helm, Bush, Cheney and Rice. Who do you think fixed all the wells in Iraq and then received phenomenally low contracts? Exxon Mobil was one, another major company was Royal Dutch Shell and BP, thats what brought the UK into the wars.

http://www.counterpunch.org/2014/05/23/iraq-the-biggest-petroleum-heist-in-history/

Exxon Mobil saw its profits soar to $8.8 billion in the second quarter

http://www.reuters.com/article/2014/07/31/us-exxon-mobil-results-idUSKBN0G01EG20140731

Shell quarterly profit beats forecasts, $6.1 billion

http://uk.reuters.com/article/2014/07/31/uk-shell-results-idUKKBN0G00FD20140731

BP second quarter profits to $3.64 Billion

http://fortune.com/2014/07/29/2q-international-earnings-highlights-bp-warns-on-rosneft-risks/

Exxon Mobil deal with Ukraine factors in Russia’s Crimea policy

The August 2012 awarding of rights to develop a major natural gas find in the Black Sea near Crimea to a consortium led by Exxon Mobil and Royal Dutch Shell may have strongly predisposed Russia to support the referendum which resulted in the reunion of Crimea with Russia. The Skifska gas field is estimated to hold recoverable gas reserves in the range of 200-250 billion cubic meters. The field is likely to produce five billion cubic meters of gas annually once developed.

http://peoplesworld.org/exxon-mobil-deal-with-ukraine-factors-in-russia-s-crimea-policy/

Republicans/Big Oil don’t care about you or I, they don’t have scruples or integrity, ethics is not taught or learned, we just buy people to get more money, the peasants are the majority and are to be used like slaves to lavish are greed. Have you noticed the media stopped talking about the TransCanada Pipeline and have not said one word how Big Oil is Fixing gas prices for outrageous profits? The media is bought off the same as politicians, astoundingly gross greed by Monopolies holding hands to the bank, while the country is the step child of abuse.

[DhhD]

1. And trying to pick up some free oil through contracts it negociated with the Kurds of northern Iraq

http://www.reuters.com/article/2014/07/29/us-usa-iraq-kurdishoil-idUSKBN0FY23K20140729

(Reuters) - A high-stakes dispute over a tanker carrying $100 million in Iraqi Kurdish crude took a surprising turn on Tuesday when a U.S. judge said she lacked jurisdiction given the ship's distance from the Texas shore and urged that the case be settled in Iraq.

more at site source

[Arthur_Frain]

2. Not to mention

here in Alaska, spending MILLIONS to defeat a ballot initiative aimed at repealing the sweetheart oil giveaway engineered by the pocket politicians it owns outright. They have outspent the pro repeal folks to the tune of ten to one plus. Everywhere I drive up here I see "No on One" bumper stickers, so the media hype they are paying for is still working. This happens every time they want something or else have a PR issue. They throw money at it, obscene amounts of money.

Sad that no one really seems to care. Not sure if it's outrage overload or that the media that loves a crisis distracts them with the next big scandal (Shiny keys! Shiny keys!) and it's forgotten.

I don't have the facts right here in front of me, but I'm betting that if you looked at the last 20 years, the number of quarters that earnings set records is easily above the 2/3rds type of majority, maybe even 3/4.

And the band played on.

[blkmusclmachine]

3. DC is a racket

[Amonester]

4. Scandalous, but just one question: How much of that amount ends up in 401k's

Retirees mutual-fund pension plans, since every of these capitalist scams these days are intertwined to justify their existence (and the fact that, if you change the rules, these ex-workers will feel the "pain" and not CEOs).

Just for understanding, how much ends up "shared" in "dividends" to investors? Just asking for an answer.

I personally think nothing will ever "change" but only to get worse.

Thanks.

[taught_me_patience]

5. The devil is in the details

"Exxon said net income rose to $8.78 billion, or $2.05 per share, from $6.86 billion, or $1.55 per share, a year earlier. Analysts on average had expected earnings of $1.86 per share, according to Thomson Reuters I/B/E/S.

Part of the increase in profit was due to a gain from Exxon's sale of its 60 percent stake in a Hong Kong utility and power storage firm earlier this year.

Unlike others on Wall Street, Exxon does not typically offer an "adjusted" earnings number. Youngberg said that if the company had backed out the gain from the Hong Kong sale, its profit would have missed expectations. Production fell 6 percent to 3.8 million barrels of oil equivalent per day. While the drop is not a positive, investors should not see it as the beginning of a negative trend, said Oliver Pursche of Gary Goldberg Financial Services, who manages Exxon shares for clients."


Earnings were not great, and Exxon stock actually fell on the news.