prd9601 Posted July 28, 2006 Share Posted July 28, 2006 (edited) EXXON/Mobil has announced today that they have only made PROFITS of $10,000,000,000 for the second quarter. Yes that is $10 BILLION in profits, not sales. And yes, that is only for the second quarter, not for the year...This will only be the same for the other BIG BOYS and no one seems to see how wrong this is!! What the #$%^??? Edited July 28, 2006 by prd9601 Link to comment Share on other sites More sharing options...
Tekneek Posted July 28, 2006 Share Posted July 28, 2006 EXXON/Mobil has announced today that they have only made PROFITS of $10,000,000,000 for the second quarter. Yes that is $10 BILLION in profits, not sales. And yes, that is only for the second quarter, not for the year...This will only be the same for the other BIG BOYS and no one seems to see how wrong this is!! What the #$%^??? They also say this is all because of the market and they have no control over the pricing. Of course, they also throw huge money around to the executives (which is strange behavior if the strong performance of the company is only because of the market and not because of anything special those people are bringing to the table - if I were a shareholder I would be very angry about that). Link to comment Share on other sites More sharing options...
prd9601 Posted July 28, 2006 Author Share Posted July 28, 2006 They also say this is all because of the market and they have no control over the pricing. Of course, they also throw huge money around to the executives (which is strange behavior if the strong performance of the company is only because of the market and not because of anything special those people are bringing to the table - if I were a shareholder I would be very angry about that). No control over pricing? Who sets the price from day to day? And why does the price change sometimes .30 from day to day? Can't wait to see what BP and the other "Majors" bank this quarter. Wonder why we only have 23 Division 1 corps? Starting to wonder how we even have Division II and III. Link to comment Share on other sites More sharing options...
cire Posted July 28, 2006 Share Posted July 28, 2006 theres a lot of factors in gas prices. i know.. cause i use it. Link to comment Share on other sites More sharing options...
Tekneek Posted July 28, 2006 Share Posted July 28, 2006 (edited) They don't really control the pricing of oil, as I understand it. That is handled via the trading of futures contracts on an exchange. I also think this is where they are making the most money, although I have not looked at the balance sheets of the big public oil corporations. As far as I know, very little of the gasoline pricing is handled in a similar way and that may be where the problems are. Also, gas stations that are affiliated with Shell, BP, etc, are forced to pay whatever price BP, Shell, etc, decide to charge them and cannot shop around. The oil/gas companies like to claim that independent ownership of the actual point-of-sale absolves them of the prices, but they set the prices by forcing those owners to buy exclusively from them at prices they set. Then the only control that owner has is what margin he chooses over the price set by the mega-corporation. In general, as the suppliers charge more, I suspect the margins that the independent owner needs to put food on the table get smaller. Edited July 28, 2006 by Tekneek Link to comment Share on other sites More sharing options...
Geoff Posted July 28, 2006 Share Posted July 28, 2006 This is currently being discussed in our Current Events forum, located in the OT section. http://www.drumcorpsplanet.com/forums//ind...showtopic=83480 Link to comment Share on other sites More sharing options...
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