Oh No there is no way the oil barons are price gouging!!!

[Tazman]

Underdog I thought you might enjoy reading this!http://finance.myway.com/jsp/nw/nwdt_rt.jsp?section=news&feed=bus&src=202& amp;news_id=bus-rob743705&date=20051027

Here is a little snippet of the article:

NEW YORK (Reuters) - Exxon Mobil Corp. on Thursday posted a quarterly profit of $9.9 billion, the largest in U.S. corporate history, as it raked in a bonanza from record oil and gas prices.

This article should make every American very happy as they pump thier gas knowing that they are doing their part to make sure the oil barons don't starve![:@]

[Charlie P]

There is no question that most of the oil companies are reporting mammoth increases in third-quarter profits. Wednesday, ConocoPhillips, the nation's third-largest oil company, reported that quarterly profits rose 89 percent. On Tuesday, BP reported profits that soared 34 percent. Thursday, Shell and ExxonMobil will report earnings. Friday, it will be Chevron's turn.
The main factor for the oil companies is the high price of oil, which peaked near $70 a barrel during the quarter. Since then, oil prices have dropped slightly. As of late Wednesday morning, oil prices were $62.30 on the futures market. This is still considerably higher than last ye

[Sswpriz]

Exxon said it did not see the point of a windfall profits tax.

Do you expect any compnay to subscribe to a supposed self imposed tax ???

This article just shot my blood pressure up to the moon !!!!

[rick_reno]

Conoco's profits were up 89% this quarter. That does not point to a supply problem - if there were a supply problems profits shouldn't soar like this.

[david m]

welcome to the "pro-business" environment of a republican controlled government.

[VT_Hunter1980]

I know we live in a free market economy, but something just doesn't sit well here. The oil companies are essentially profiting on the expense/misery of others. While that's not ilegal, it's still pretty sickening.

A lot of people say things like, "drive less and put on a sweater," but the effects are a lot more far reaching than that. Petrolium is related to everything. It's needed to ship food, make plastics, and generate power. Basically, if the cost of oil increases, the cost of life itself increases. This increase is especially damaging to us rural/northern folks. Should I move to a southern city to save money?

This winter is going to be interesting.

[underdog]

I just love the knee-jerk reactions on this board. Hey Taz, do yourself a favor and think for yourself rather than let the media do it for you. Go to Marketwatch or Bloomberg and read a financial article that isn't full of spin to cast Exxon as an evil oil company.

Just look up their revenue for the quarter and calculate the profit margin the $9.92 billion profit for Q3 represents.
Did they meet Q3 guidance and what did their stock do today? Report back when you've done a little due diligence prior to the ranting.

[bnhcomputing]

Underdog:

I believe the tread here was about "profit", not revenue. The majority of the people on this board have no problem with a company making a profit. Nobody here is complaining about any company making a profit, what we are saying is that we don't believe they need a 10B profit.

Will any of those funds trickle to the employee's? Let's hope so because we'll all owe are sole to the company store before this is over.

We aren't against capitalism here; we are simply saying it should be rolling hills capitalism, not Mnt. Everest peaks, and bottomless valleys capitalism.

[s. il. hntr]

Well maybe now is the time for alternate fuels. Hybrid sales have finally increased--- dramatically. Its only taken 30 years for this to come about. If you don't like gas prices, don't depend on gas.

[BenGarrett]

Supply and demand, folks. Supply and demand.




The oil companies' demand for money is greater than our supply of it.