Exxon Mobil Corp. set record profit in 2003: $21.51 billion US

[DuctapeFatwa]

Exxon Mobil Corp. saw fourth-quarter earnings jump 63 per cent as it benefited from higher prices for crude oil and natural gas.

Exxon Mobil, the world's largest publicly traded oil company, said Thursday that it also set a record for earnings in one year, $21.51 billion US, nearly double its profit for all of 2002. In the October-December quarter, Exxon Mobil earned $6.65 billion, or $1.01 per share, compared with $4.09 billion, or 60 cents per share, a year earlier.

http://www.cbc.ca/cp/business/040129/b0129124.html

[Hubert Flottz]

1. Ever noticed how that happens when gas is $2.00 a gal?

And how it's always somebody in the middle east they blame it on! Remember how nice it was when we had control of the senate and could stop the gouging?

[kysrsoze]

4. That's because they don't have to cut costs like other companies

It's kind of a cost-plus, gouging arrangement. None of them compete, and when the cost of crude goes up, so do the gouging and the resulting profits. ALL costs and more are passed on to the consumer. Notice how even the so-called budget gas stations often don't give discounts. I go to BP sometimes b/c it is the same price as Speedway and they have better coffee.

I've felt for a long time that there isn't much concern about blowing pipelines and unstable crude prices b/c the oil companies just make more money through inflated prices and constant rebuilding.

[joeunderdog]

8. Ever notice how that happens when you become #1 campaign contributor?

For the Chimp.

No EPA restrictions.

No Energy regulation.

No problem.

[Faygo Kid]

2. Going just the way Bush and his cabal planned it

That money will go into the pockets of the top 1%, who will then turn around and finance Bush even more strongly. It's a vicious circle with this crowd. By the way, the money comes out of the pockets of all the rest of us - again, an unprecedented redistribution of wealth. Going nicely for them, isn't it?

[izzie]

6. I cut my gas down to $20 a month........

I am retired so do not have to go out. I used to spend $10 a week but I said to h---- with oil companies.Every time they go up I drive less.It is a one women protest.Last month I got buy on 17dollars.It also means I do not buy at Wal-mart, no w I rent books at library and just buy food. I find I live as well as always.

[kysrsoze]

9. I'm down to less than $10 a week

I ride the train to work in the winter and bike to work in the summer. I'm also keeping my 4-banger at least another year longer than I had previously planned b/c I like not making car payments and getting good gas mileage. If they made hopped-up hybrids (which it looks like they're starting to do), I may buy one of them.

[izzie]

7. I cut my gas down to $20 a month........

I am retired so do not have to go out. I used to spend $10 a week but I said to h---- with oil companies.Every time they go up I drive less.It is a one women protest.Last month I got buy on 17dollars.It also means I do not buy at Wal-mart, no w I rent books at library and just buy food. I find I live as well as always.

[MisterP]

3. The director of investor relations reminds me of Seinfeld

you know, with Dolores...

[UpInArms]

5. then they shouldn't mind paying the $6.75 Billion for the Valdez

spill

http://www.washingtonpost.com/wp-dyn/articles/A58311-2004Jan28.html

Judge Says Exxon Owes $6.75 Billion For Valdez
Appeal Promised as Suit Over '89 Spill Drags On

By Griff Witte
Washington Post Staff Writer
Thursday, January 29, 2004; Page E01

A federal judge in Alaska yesterday ordered Exxon Mobil Corp. to pay $6.75 billion to 32,000 fisherman, landowners and others affected by the 11 million gallons of oil that poured into Prince William Sound after the grounding of the Exxon Valdez nearly 15 years ago.

Exxon Mobil immediately vowed to appeal, and the case seems destined for further litigation.

Yesterday's ruling stems from the torrent of lawsuits filed after the spill against Exxon by fishermen, Alaska Natives, landowners, small businessmen and municipalities in south-central Alaska. Those suits led to a 1994 decision by an Anchorage jury that awarded a consolidated set of plaintiffs $5 billion in punitive damages. Since then, the case has been kicked back and forth between federal judge H. Russel Holland's court in Alaska and the 9th U.S. Circuit Court of Appeals in California, which has twice vacated Holland's decisions.

...more...

I think their profits are "extreme" (their term for the damages) and they should stuff their stupid appeals up their arses. :mad:

[Braden]

10. "The news of record earnings at Exxon Mobil comes as U.S. motorists face r

most americans don't seem to see the correlation.

Didn't * surmise that a drop in gas prices was a pay raise?

what would you call this dumbya?

[llmart]

11. Unfortunately

most Americans will not conserve unless it hits them hard in the wallets. With regard to another LBN thread, you'll see how quickly they dump the gas guzzlers/SUV's when they are paying more for gas. I took a job closer to home for less pay but in the long run I am saving so much more in many so many ways.

[fshrink]

12. My My... How could that be?!?

Would there be some cheap oil available somewhere? Or the cost of which is being partly paid by someone else?

[Braden]

13. no didnt you read

the chemical division increased revenues by $400 million. that accounted for the $21. Billion profit.

Get it?

[lostnfound]

14. While we in the airlines are starving..

because fuel has doubled.

I know, no sympathy for the corporate aliens. But I think I'll post this article on the bulletin board at work, so that the creepy pro-Bush freepers can ponder how their profit-sharing checks all went to Dick's buddies at the oil companies.