Easy with the name calling guys.

$39.5B is what about 11% of $377.6? Thats a decent profit margin. The numbers are big but you have to look at the precentages.

I don't begrudge anyone making a profit, I am a capitalist and in this system there are winners and losers. Exxon won in 2006, good for them.

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2016 Corvette Stingray 2LT
1969 280SE
2023 Ram 1500
2007 Tiara 3200

Look at #13. Nuff said.

Are they paying the same tax rate as companies with similar revenue?

The answer is no and American Soldiers are defending their profit, chowder my ass.

and it may seem stupid but none of my portfolio has oil stocks because I put my money where my mouth is. Betting on blood is some pretty ****** sick thinking IMO.

Tax all companies equally and let the free market do the rest.

And what exactly are you trying to say?

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Estimated Annual Retirement Benefit: $8,187,200*
*Calculated by The Corporate Library for the AFL-CIO Executive PayWatch

Exxon Mobil CEO Lee R. Raymond’s retirement in January 2006 coincided with record profits for Exxon Mobil. On retirement, Raymond was entitled to receive an estimated annual retirement benefit of over $8 million.[1][1] He choose instead to take a lump sum payment of $98 million.[2][2] Raymond will also get an administrative assistant, company-provided life insurance, a car, driver, and airplane use for two years.[3][3]

Like many CEOs, Raymond’s pension is calculated based on his highest average salary and bonus over a three-year period. Between 2002 and 2005, Raymond’s annual bonus more than doubled from $2.1 million to $4.9 million.[4][4] According to Exxon Mobil, long-term returns on capital, growth in earnings per share and operating results are key considerations in determining the CEO’s salary and bonus.[5][5]

But does the CEO deserve credit for high gas prices that led to Exxon Mobil’s record profits? Not according to Jeb Armstrong, an analyst at Argus Research Corp., who said, “There’s a perception that they’re making too much. The simple truth of the matter is that prices are set by supply and demand, and they are a price taker, not a price maker.”[6][6]

Paying pension benefits on a CEO’s bonus acts as a compensation multiplier by dramatically increasing the value of a CEO’s future pension. This is because CEOs typically receive much higher bonuses than other employees, and one year’s record bonus can translate into a lifetime of higher pension payments.

While Exxon Mobil states “there is no special program for senior executives,” the company does make special pension provisions for executive bonuses. Exxon Mobil’s tax-qualified pension plan—the one in which most employees participate—is based on average annual salary. [7][7]

Exxon Mobil executives who receive bonuses also get an additional pension benefit from a “non-qualified additional payments plan.”[8][8] As a result, Raymond’s pension will be calculated on $11.8 million in compensation, including his bonus and long-term incentive plan payouts.[9][9] In contrast, his salary only averaged $3.5 million between 2002 and 2005.[10][10]

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Chowderhead huh? Yeesh.

The goverment does NOTHING??? The government provides for market security, and these days, THAT AIN'T CHEAP. The oil companies are ROBBING US BLIND!!!

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'83 240D with 617.952 and 2.88
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Oil Burner Kartel #35

http://i16.photobucket.com/albums/b1...oD/bioclip.jpg

Speak for yourself.

I'm just not grasping this concept.

In a capitalist society, the goal of all companies is to make the maximum profit possible. In fact, the company owes this to its shareholders. They are not in the business of providing product for free.

The oil company purchases the product for $1.36 per gallon on the other side of the world, transports it to a ship, ships it to the U.S. on a two week journey, transports it to a refinery, breaks it down into various commodities, ships it to a retailer and then sells it for $2.45 per gallon. Where's the "robbing us blind" part of that equation?

If you wish to see "robbing us blind" what about a company that can take $.05 of caramel colored water, add some CO2 and charge $6.00 per gallon for it. Why are you not complaining about Coke "robbing us blind"??

Does your need for the product cloud your judgment?

I have to say... MM I'm with you on this one. I have a tiny bit of oil stock in one of the smaller mutual funds... but aside from that, I wouldn't do it either. I have to admit that I'm really surprised to see you write these things. I'm NOT trying to bust your balls or anything at all -- just surprised.

The fact that Exxon (and others) are making out like gang-busters because of this fake war is criminal. If it wasn't for the bs "strife" to keep prices artifically low, things would be much different for them (Oil companies). But Bush and his buddies are all cleaning up (yeah, don't forget - duh - he's an oil man) on the backs of our servicemen (and women).

Really stinks if you ask me.

Pete

Since it's Super Bowl weekend I think I figured it out. War is a spectator sport and the oil company is the booky.

I need to check my squares.

Cute, but it doesn't address the fact that these record profits don't reflect a drop of oil being pumped out of Iraq. But when the taxes rise and the foreign oil is cheaper to buy than domestic production, we'll see where we start sending troops.

You are putting words in my mouth, I do believe the oil supply needs to be guarded but oil company profits should not be hitting an all time high at a time we are fighting for oil.

For now they can throw some change in the cookie jar and get back to profits when the war is won. Maybe the war would end faster if they hired more private firms to protect their interest to decrease the burden on the military instead they are charging the government to guard their own tankers and pipelines.

The fact remains:
more war = high profits, you can connect the dots from there.

I just disagree then and can sleep very very well while I continue to invest in the production and distribution of oil.

The 'fact remains' statement does not follow the graphed trends of oil profit boom cycles.

I guess cycle is much easier to digest, again I said I was wrong this whole thing is a coincidence.

I agree with Brian. We pay less for gasoline and fuel oil here than most of the people in the rest of the developed world.

I'm just glad I don't run my car on Coke. Sheesh! They're robbing us blind!!!!

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" We have nothing to fear but the main stream media itself . . . ."- Adapted from Franklin D Roosevelt for the 21st century

OBK #55

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