[PRCo] Re: Excess Profits - Oil Companies

[Jerry Matt Matsick]

Fred Adding to what have you stated all ready please find:
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) 
--
>From the River City by the Sea! 
Jerry "Matt" Matsick 
"Jacksonville" 


-------------- Original message from Fred Schneider <fwschneider at comcast.net>: -------------- 


> 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 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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