So Exxon made $11.68 billion in a quarter...

Question

how does this make u feel ??

(fyi. this news destroyed a little part of my soul)

Answer 1

I don't understand why people are so suprised by this, you all act like this is astounding new news. Two years ago Exxon reported a 20 billion dollar profit in their third quater. this is nothing new.

Answer 2

Fuel prices are at record highs, yet oil and utility companies are making record profits?

It sucks beyond all meaning of the word suck!

Answer 3

It's crazy. I used their gas all the time before prices sky-rocketed. Now I use whatever gas is the cheapest. It just seems as if more people are still going to them even though they just drain the money out of you.

Answer 4

They are selling a record amount of the stuff, so it is somewhat understandable, if they pump it out of the ground for $50 a barrel or $140 it costs them all the same, but they don't dictate the market price.  Our gas is a h**l of a lot cheaper then Europe and most of Africa so it is hard to complain, but we are spread out a lot more then Europe so we have to drive more.  I think gas in Venezuela is something like 40 cents a gallon, S****y OPEC.  It used to cost me $20 to fill my truck, now it is over $60.  60>>20 = S****y

They have to make their profits while they can, oil is only projected to last 30 to 50 years then no more Exxon.

Answer 5

They needed to make more, they didn't beat estimates and I took a little hit to my portfolio yesterday

Answer 6

Exxon didn't make that profit on gasoline sales. They made it on crude oil production. The price of crude is determined by worldwide commodity markets, NOT EXXON ! This is how a free market society works, like it or not. Supply and demand. Did you notice that gas has dropped in the last couple of weeks ? That's because people are buying less. That forces surpluses to occur which drives down prices. And in the long run will lower big oil's profits.

Answer 7

Ya. Crazy. And Wall Street was disappointed. They were looking for higher profits... What really sad is, General Motors reported a 15 billion dollar quarter loss.... Ironic. They very product that uses the most oil - cars/trucks is dying out. But do you think the oil companies would ever consider helping them out? No. Cutting of their noses to spite their faces.