[PRCo] Re: Excess Profits - Oil Companies

[Fred Schneider]

And the total US consumption is 140,160,000,000 gallons of gasoline  
per year plus diesel plus kerosene plus plus number heating oil plus  
number six oil plus benzin plus other chemicals plus  plastic pellets  
plus other things in which they are involved such as shipping.   
Obviously, if you own the ships you are entitled to make a profit  
using them just as some other carrier would if he shipped your oil.

When you say Exxon, are you counting just U. S. sales or worldwide  
sales?   Are you including the Esso name too?  Are you talking about  
the entire ExxonMobil group?   The map at the link below shows where  
ExxonMobil operates.

http://www.exxonmobil.com/Corporate/Newsroom/Publications/ 
XOMGlobalCap/page_1.html

And they are just one of many worldwide conglomerates.  Shell, for  
example, is a Dutch firm.

Don't get me wrong.   I think $48 million is rather excessive as a  
compensation package for a corporation C. E. O.   When you have more  
than the income of some nations, it does border on the ludicrous.

But we also need to look at corporate profits in terms of invested  
capital and sales and not just in terms of raw dollars.   Sadly,  
ExxonMobile's own report, when I looked for it on the internet,  
doesn't tell us anything about gross income, only profits and how  
that compared with the previous year by category (chemicals,  
petroleum, etc.).    Quite frankly, if I am investing in a business,  
I want to know what the business is doing and how much is invested  
and how much it bottom lines not just profits.

And my first statement was oil company's in general, not Exxon.



On May 22, 2008, at 7:16 AM, Rich Rockwell wrote:

> I'm wondering where you heard this too.  Here are some of the  
> statistics I
> see from reputable sources:
>
> Profits from the four major oil companies combined in 2007 was $100  
> billion
> (US News & World Report, May 22, 2008)
>
> In the fourth quarter of 2007, Exxon's profits were $10.25  
> billion.  That
> was the highest quarterly and annual profits ever for a US Company  
> - it rose
> 14%,  nearly quadrupled from $11.5 billion in 2002.  Their previous
> quarterly record was $10.7 billion, (CNN Money.com, Feb 1, 2008)
>
> In 2004, Exxon's CEO, Lee R. Raymond's annual compensation package  
> was $38
> million, a jump from his 2003 package valued at $27.9 million.  
> (Forbes.com,
> April 13, 2005).  In 2005, his annual compensation was $51.1 million
> ($141,000 a day, $6,000 an hour) and he got a retirement package  
> worth $400
> Million.(ABC News, April 14, 2006)
>
>
> -----Original Message-----
> From: pittsburgh-railways-bounce at lists.dementia.org
> [mailto:pittsburgh-railways-bounce at lists.dementia.org] On Behalf Of  
> Herb
> Brannon
> Sent: Thursday, May 22, 2008 12:51 AM
> To: pittsburgh-railways at dementia.org
> Subject: [PRCo] Re: Excess Profits - Oil Companies
>
> Who did you hear this from?
> Fred Schneider <fwschneider at comcast.net> wrote:  Just heard an  
> interesting
> news item on television. We all know that Hillary wants to take the  
> 18 cents
> a gallon Federal tax from the oil companies' excess profits. Now  
> what I
> heard was that the average profit on a gallon of gasoline is 8  
> cents to the
> producer! Only two percent! Would you buy stock in a business that  
> has only
> a two percent return on sales?
>
>
>
>
> Greetings From The United States North Coast
>
>
>   Time Is The Fire In Which We Fry
>   Unknown Author
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