Home | Community | Message Board
You are not signed in.
Sign In New Account
Forum Index Search Posts Trusted Vendors Highlights Galleries FAQ User List Chat Store Random Growery

Magic-Mushrooms-Shop.com
This site includes paid links. Please support our sponsors.

Community > The Pub
Threaded Mode Threaded  Previous topic Previous  View all topics Index  Next topic Next 

Welcome to the Shroomery Message Board! You are experiencing a small sample of what the site has to offer. Please login or register to post messages and view our exclusive members-only content. You'll gain access to additional forums, file attachments, board customizations, encrypted private messages, and much more!

Jump to first unread post Pages: 1
ExxonMobil's $10 billion profit quarter
    #4637777 -

Read it and weep, fellas.

Extras: Filter Print Post Top
Re: ExxonMobil's $10 billion profit quarter [Re: DNKYD]
    #4637782 -

That's all they made?! I figgered they'd gauge way more than that.


--------------------
Hey, baby...wanna kill all humans?

Extras: Filter Print Post Top
Re: ExxonMobil's $10 billion profit quarter [Re: TurdFerguson]
    #4637791 -

Yeah, 110 million dollars per day? Weak!!!



--------------------
Coffee should be black as hell, strong as death, and sweet as love.

Extras: Filter Print Post Top
Re: ExxonMobil's $10 billion profit quarter [Re: SkorpivoMusterion]
    #4637809 -

Exxon's $10B fill-up: Cashing in on crunch
By Brett Arends
Wednesday, September 7, 2005 - Updated: 04:27 PM EST

Oil companies came under new fire yesterday when it emerged that ExxonMobil's profits are likely to soar above $10 billion this quarter on the back of the fuel crisis.

That's $110 million a day, and more net income than any company has ever made in a quarter. It's also a stunning 69 percent increase over the same period a year ago and a 34 percent jump from the $7.6 billion Exxon made just last quarter.

``Do you realize President Bush has just given a tax break to ExxonMobil?'' thundered Rep. Ed Markey (D-Malden). ``Of all the companies in the history of the world that needed a tax break, this month, ExxonMobil should be at the bottom of the list.''

The law gives incentives to producers such as Exxon to expand production, such as for drilling for new wells in deeper waters in the Gulf of Mexico.

``It makes me angry,'' agreed Rep. Marty Meehan (D- Lowell), noting rising fuel prices ``are going to have a negative ripple effect throughout the economy.''

Meehan yesterday sponsored legislation on Capitol Hill to penalize price ``gouging,'' assuming it can be agreed what that is. Markey is preparing for Energy Committee hearings on the fuel crisis.

Even oil company shareholders were critical. Hub fund manager Lee Forker, the head of New England Research & Management, said the profits reflected a failure of oil companies' leadership to invest in future production. ``They're maximizing present cashflows and ignoring the future,'' he said.

ExxonMobil is spending about $5 billion a quarter buying back its own shares.

Forker says the oil companies bear responsibility for recent shortages, because they have held back on investment in new production for years due to a fear of a price collapse. ``It could just be a big scam ? `Let's just restrict the supply along with the OPEC countries and we'll all get rich together' '' he said.

Crude oil prices fell yesterday by $1.61 to $65.85 a barrel. Gasoline prices also eased slightly from late last week's panic.

But Lehman Brothers yesterday became the first Wall Street investment bank to issue a new profits forecast for Exxon following the week of post-Katrina turmoil, when gasoline prices surged as high as $3.59 a gallon in the Bay State and crude oil prices briefly topped $70
The new forecast: $1.62 a share, or $10.2 billion in total. Other analysts are likely to follow suit.

Jacques Rousseau, energy analyst at investment bank FBR, yesterday explained that most of the extra money that consumers are paying for gasoline is going straight through to the big companies' bottom line.

The reason? Prices are soaring because of perceived shortages while the cost of producing the gasoline is little changed.


--------------------
"To get what you've never had, You must do what you've never done."

Extras: Filter Print Post Top
Re: ExxonMobil's $10 billion profit quarter [Re: TurdFerguson]
    #4637828 -

DickDiver said:
That's all they made?!  I figgered they'd gauge way more than that.


Yeah, that should be way more. Time to hike the prices up some more. Holy Enron, Batman... :frown:

Extras: Filter Print Post Top
Jump to top Pages: 1

Community > The Pub
Threaded Mode Threaded  Previous topic Previous  View all topics Index  Next topic Next 

Similar ThreadsPosterViewsRepliesLast post
* Shroomery Commune Ver. 8.09775 * 10^7
( 1 2 all )		 Baby_Hitler 3,641 37 12/19/04 04:54 AM
by koppie
* EMI warns on profits SeussA 395 0 02/07/05 05:43 AM
by Seuss
* i lost 10 lbs
( 1 2 all )		 notapillow 1,875 28 08/05/04 07:26 PM
by OldSpice
* The new Canadian $10 bill. What do you think?
( 1 2 3 4 all )		 Patlal 2,052 60 03/10/18 01:06 PM
by LogicaL Chaos
* Estimated 150,000+ people dead, 5,000,000 homeless
( 1 2 3 4 5 6 7 8 all )		 Sinbad 27,354 144 01/05/05 10:27 PM
by usefulidiot
* Best $10 bong ever :) baraka 3,606 14 07/17/04 01:29 AM
by Golgi
* Post 10 good 'uns.
( 1 2 all )		 Revelation 4,974 34 08/19/04 01:18 PM
by Revelation
* help with mycological site for a 10 year old........ ChromeCrow 2,283 13 12/24/03 07:45 AM
by Ripple

Extra information
You cannot start new topics / You cannot reply to topics
HTML is disabled / BBCode is enabled
Moderator: Entire Staff
778 topic views. 3 members, 13 guests and 136 web crawlers are browsing this forum.
[ Show Images Only | Sort by Score | Print Topic ]
Search this thread:

Copyright 1997-2026 Mind Media. Some rights reserved.

Generated in 0.021 seconds spending 0.005 seconds on 14 queries.