Stop the presses! I just heard the oil industry is enjoying record profits

[Tim4319]

Why in the world are we paying some much, if they are enjoying record profits? I just heard it on CNN's Headline News.

[katinmn]

1. This has been the case for a long time. Funny it is being reported

as "news" just now.

Funny CNN.:silly:

[Tim4319]

3. I know.

It's almost like they are bragging about it.

[gollygee]

Oil is peaking and they'll make a killing off that

They'll milk it as much as they can for as long as they can.

[Tim4319]

2. I cannot believe this!

<<snip>>
When major oil companies report their quarterly profits next week, they're once again expected to post record numbers. With crude trading around $60 a barrel, the oil industry is enjoying one of the biggest windfalls in its history.

http://www.msnbc.msn.com/id/8646744/

We have been "hood-winked, bamboozled, lead astray" "We didn't land on Exxon-Mobile. Exxon-Mobile landed on us!"

This is ridiculous!

[NewJeffCT]

4. ExxonMobil in 2004

In 2004, ExxonMobil set an all-time record for corporate profits of a net $25.3 billion. That is NET, after taxes, after dividends to shareholders and everything else. That's not an all-time corporate record for ExxonMobil, it's an all-time record for any corporation ever! The previous record was like $17 or $18 billion.

This year, ExxonMobil's profits are up significantly from 2004, meaning they could easily surpass $30 billion net.

Last year, they came close to passing Wal-Mart as the world's biggest corporation, WM had about $288 billion in revenues, with ExxonMobil shooting up to $270 billion. Exxon also has a chance to jump past WM in this category as well. (I think WM's net profit was like $8 billion)

[Richard Steele]

16. That works out to almost 3 MILLION dollars an hour!

$2,888,127.85 EVERY HOUR of 2004!

That's $48,135.46 in profit every minute, 24/7!

[Tim4319]

18. That is ridiculous!

[pk_du]

5. and as if thats not bad enough....... Tom Delay gave them 1.5Bn

more at 4.00am AFTER the conference report was concluded!

http://www.democrats.reform.house.gov/Documents/20050727165629-26334.pdf

...and the MSM says.... "wheres Nathalie?"

[Tim4319]

6. Smoke screen

[Toots]

7. between the lines ( Republicans enjoying record contributions)

Republicans, Bought and paid for. :shrug:

[Tim4319]

15. Thieves

That is all they are.

[converted_democrat]

8. Plus we gave them billions in the new energy bill............

Halliburton and Sugarland, Texas, and Marathon got 1.5 billion, not even mentioning what the other comapnies, got.

[pscot]

9. The obvious solution is to buy energy stocks

Knowing that every spike in oil prices increases your net worth has a wonderfully calming effect. You can't do squat to change the system, but you can make a buck off it. The beauty part, as Milo Minderbinder used to say, is that everybody has a share.

[Tim4319]

10. I was thinking that exact thing.

But, can that be considered "blood money"?

[SammyWinstonJack]

11. I'd say so.

[pscot]

17. Stocks don't know you own them

As a stockholder you are less important to Exxon than a flea on a dog. If the dog bites somebody, the flea is not generaly thought to be liable. As a flea, you may have grandios notions of the significance of your $1000 or $10,000 investment, but if you commute to work by car or heat with natural gas, the moral objection to stock ownership seems specious at best.

[lostnfound]

19. Isn't that the truth?

A dilemna. Biggest returns come from defense & oil when these creeps are in power.

[gratuitous]

12. Would folks be able to draw the line?

If you had to fill up your tank with the actual blood and bones of the people killed for your hi-test?

[lonestarnot]

13. How many billion in three months? Yet Energy Bill for Bushitler allows

them how much in tax credits for drilling?

[lonestarnot]

14. kick!