oil companies reeming us.....again

[rebelracewriter]

I was bored so I "googled" oil companies first quarter earnings, here are some incredible numbers. Now why are gas prices still going up???? Just another case of the rich getting richer.....at our expense.

Actually saw over $3.00/gal in Austin last weekend

 

 

NEW YORK — Exxon Mobil Corp. (XOM), the world's largest publicly traded oil company, said Thursday its net income grew 10 percent in the first quarter, as higher refining, marketing and chemical profit margins overcame lower crude oil and natural gas prices from a year ago.

 

The earnings of $9.3 billion were the company's highest ever for the first quarter and beat Wall Street expectations, but revenue slipped and fell well short of analysts's forecasts.

 

AN RAMON, Calif. -- Coming off three straight years of record profits, Chevron Corp. on Friday reported that its earnings surged yet again to start 2007 as the oil company cashed out of a Netherlands venture and cashed in on lucrative refining margins that have contributed to high gasoline prices.

 

The 18 percent increase in Chevron's first-quarter profit delivered another reminder of the oil industry's moneymaking prowess while motorists dig deeper into their pocketbooks to fuel their cars. The economic disparity has renewed calls for a windfall tax on the industry to help raise money for alternative energy.

 

Chevron earned $4.7 billion, or $2.18 a share, during the first three months of the year, compared with net income of $4 billion, or $1.80 a share, at the same time last year.

 

The company turned a higher profit despite a 12 percent decline in revenue, to $48.2 billion during the period.

 

Occidental Petroleum Corporation announced net income for the first quarter 2007 was $1.212 billion ($1.43 per diluted share), compared with $1.231 billion ($1.43 per diluted share) for the first quarter 2006. Core results for the first quarter 2007 were $831 million ($0.98 per diluted share), compared with $1.153 billion ($1.34 per diluted share) for the same period in 2006.

 

CALGARY, ALBERTA--(MARKET WIRE)--Apr 24, 2007 -- Petro-Canada announced today first quarter operating earnings from continuing operations adjusted for unusual items of $580 million ($1.17/share), compared with $486 million ($0.95/share) in the first quarter of 2006. First quarter 2007 cash flow from continuing operations was $1,166 million ($2.35/share), compared with $857 million ($1.67/share) in the same quarter of last year. Cash flow is before changes in non-cash working capital.

 

Net earnings from continuing operations were $590 million ($1.19/share) in the first quarter of 2007, compared with $54 million ($0.11/share) in the same period of 2006. Net earnings include unrealized gains or losses on derivative contracts, and gains or losses on foreign currency translation and disposal of assets.

 

EL DORADO, Ark.--(BUSINESS WIRE)--Murphy Oil Corporation (NYSE: MUR - News) announced today that net income in the first quarter of 2007 was $110.6 million ($0.58 per diluted share), compared to adjusted net income of $116.0 million ($0.61 per diluted share) in the first quarter of 2006. In 2007, increased income from the Company's refining and marketing operations was offset by lower income in exploration and production operations. The improvement in refining and marketing results in 2007 was mostly due to income at the Meraux, Louisiana refinery that operated throughout the most recent period, while during the 2006 period, the plant was shut-down for repairs and incurred significant uninsured repair costs as a result of Hurricane Katrina. The decline in exploration and production earnings in 2007 compared to 2006 was primarily caused by lower oil and natural gas production and lower sales prices in the just completed quarter.

[jracer98]

Who should the rich get richer from?

 

I am amazed at the way "big oil" get a pass from Americans. We tend to focus on the Middle East and the evil Arabs.

 

Jay

[tps48]

We have ourselves to blame. We demand, they supply.World wide demand is growing every day. Untill people cut down on usage, prices will continue to rise. As prices rise so do profits. The rest of the world doesn't mind 7-8 dollar a gallon gas, so $3 a gallon here wont get much sympathy any where else. Developing countries like China & India are importing-not exporting-more oil every day. Record profits are a good thing. If oil companies go broke, gas prices would be even higher.

[ProTree]

Read on a site not to long ago the Prez of Occidental Petroleum received a nice $400 mil last year,a spokeman for the company said it was solid pay for a solid performance.

[HiTech]

calling up my stock broker and getting him to invest my money in oil ..got to get back my gas money some how .. cant beat em ..join em ..btw mike 48 .why dont you park your race car and save us some money on this high price rippoff . got to start somewhere . what maybe five gallons thats a good amount to start with .you go first ..lol

Edited May 2, 2007 by oldtimer

[Rosie]

We have ourselves to blame. We demand, they supply.World wide demand is growing every day. Untill people cut down on usage, prices will continue to rise. As prices rise so do profits. The rest of the world doesn't mind 7-8 dollar a gallon gas, so $3 a gallon here wont get much sympathy any where else. Developing countries like China & India are importing-not exporting-more oil every day. Record profits are a good thing. If oil companies go broke, gas prices would be even higher.

Exactly right, Mike.

Gas is $3.00 per gallon because we are willing to pay $3.00 per gallon for it.

BTW, want to know how to cut the price of Gas by $.75+ per gallon?

Remove the state taxes form the gas.

Add to that the fact that there hasn't been a new refinery built in the U.S since forever.

then there are states (like California) that require "special blends" of gasoline that adds to the cost of production (to eliminate "greenhouse Gasses" that may or may not exist, that lead to "Global Warming", again, that may or may not be real, which, if left unabated will destroy the world by next Tuesday @ 4:00 P.M.)....

Gotta go. I'm getting a headache....

[1-Crew]

I'll volunteer to do my part, who wants to help me buy one of these:

http://www.teslamotors.com

[Rookie49]

I think state gas taxes are only about 2/3 of that. But the point is they need to be raised. Thats where our anemic hwy funding comes from. Everyone says, "I don't want toll roads, I don't want taxes, I don't want to pay for gas, but I want everything". We need to be taxing the hell out of the oil companies on windfall profits and we need to raise the state hwy tax, then when fewer people are driving because of the cost we will slow our needs for new highways.

JMESHO

[kn1ghtblade]

Hey does anyone still remember the days of .89$ a gallon????? Its not like the cost of getting the oil is that much greater now... Its all BS based off speculation from a bunch of Wall Street brookers who could care less becuase they aint paid a dime for gas in who knows how long anyway... ITS ALL BS!!!!!!!!!!! This is why I am working on buying a house right near work so I can get a little electric scooter... :)

[NickHolt]

Hey does anyone still remember the days of .89$ a gallon?????

 

I can recall purchasing gasoline for $0.19 a gallon at a Sigmor station down on Military Drive when I was stationed at Security Service at Kelly AFB. Must have been early 1970 or thereabouts. Of course, that price was for a special KBUC radio promotion. Most gas stations at that time sold it for about $0.26 - $0.28 a gallon on a regular basis.

 

And I recall going to the movies all Saturday afternoon for a double feature, short subjects (usually a black & white cartoon) and a newsreel for $0.12. If there was Vaudville that afternoon the price more than doubled to $0.25 !!! LOL

 

Nick

[ProTree]

man Nick we old.I was a little pump jockey in the late 60's back in bama and they had gas wars,but on who could sell at the lowest price and that was hi teens,lo twenty cent a gallon .And a quarter would get you in the movies on sat for a .15 and have .10 for p/corn and a coke.Long before the supersize of this day where you get a gallon coke and a bucket of corn for 15 bucks.But we didnt have to many 250-300 lb pre-teens back then like today either.

Edited May 2, 2007 by Tommy33

[racer61]

does anyone know the formula for gas prices per gallon based on barrel sales

if the price per barrel of oil goes up 26.21 cents a barrel, why do the gas prices increase 75 cents per gallon?

refineries are mostly automated, the last one built in this world has long since been paid for, so why the big mark up. Hell, a 55 gallon drum of oil makes more than 55 gallons of gas, plus by-products of the process are sold also. Im just not seeing it.

Edited May 2, 2007 by racer61

[Rosie]

Rookie49. You're right. I read the chart I was using wromg. Looks like only about $.39. I stand corrected.

Also, I personally believe that taxing the "windfall profits" on oil companies will just raise the prices of thier product more. They will just pass on the extra expense to the consumer.

There is a $***load of oil in the ANWR. Let the oil companies drill there, and prices will eventually drop, IMO

 

Rosie

Edited May 2, 2007 by Rosie

[HiTech]

man Nick we old.I was a little pump jockey in the late 60's back in bama and they had gas wars,but on who could sell at the lowest price and that was hi teens,lo twenty cent a gallon .And a quarter would get you in the movies on sat for a .15 and have .10 for p/corn and a coke.Long before the supersize of this day where you get a gallon coke and a bucket of corn for 15 bucks.But we didnt have to many 250-300 lb pre-teens back then like today either.

27 CENTS A GALLON WAS HIGH TO ME WHEN I STARTED DRIVEING ....BUT FOR FIVE BUCKS I COULD DRIVE ALL WEEK IN MY GTO .LOL OK ASLONG AS I WAS GOOD WITH THE THROTLE ... THEN THE 80.S CAME AND OPEC CAME ALONG WITH IT ..THE GAS JUMP UP TO THE 80 CENT PLUS MARK ..FOR THE GRAND OLD USA PURTY MUCH SHUT DOWN DRILLING AND ALL THAT OTHER GOOD THINGS GOING ON BUILDING PLANTS AT THAT TIME AND STARTED DEPENDING ON THE AS..... OVER THERE ..AND NOW WE ARE PAYING FOR IT ....OK BACK TO THE GOOD OLD DAYS $ 1.00 CAR LOAD AT THE DRIVE INNS .. ..... ANOTHER THING . $1.00 DALLOR AN HOUR IS WAS GOOD PAY FOR A YOUNG PERSON THEN AND YOU COULD WORK 40 HOURS AND HAVE FUN WITH SOME CHANGE LEFT OVER .. $ 12.00 DALLORS AN HOUR TODAY WONT EVEN GET YOU THROUGH THE WEEK AFTER PAYING BILLS ..

[rebelracewriter]

.......and for those of you that think Ethanol is the answer......ANNNNHHHHHH, WRONG While it may drop fuel costs a few cents the increased corn usage, raises the cost of corn. The higher cost of corn is reflected in almost all of our other everyday goods, corn feeds cows(steak, milk), pigs(pork chops, bacon), chickens and try to find a product that doesn't have some type corn syrup in it.........

 

I know this from watching the story just on World News Tonight, not because I stayed at a Holiday Inn.

 

Face it we're screwed, blued and tattoed Guess we all stop eating and start walking. ~~~sigh~~~

[fullview]

I know everyone has recieved these e-mails before,This is one I recieved today.Lets take a stand and band together on this one.

 

 

Don't pump gas on MAY 15th

 

In April 1997, there was a "gas out" conducted nationwide in protest of

gas prices. Gasoline prices dropped 30 cents a gallon overnight.

 

On May 15th 2007, all internet users are to not go to a gas station in

protest of high gas prices. Gas is now over $3.00 a gallon in most places.

 

There are 73,000,000+ American members currently on the internet network,

and the average car takes about 30 to 50 dollars to fill up.

 

If all users did not go to the pump on the 15th, it would take

$2,292,000,000.00 (that's almost 3 BILLION) out of the oil companies pockets

for just one day, so please do not go to the gas station on May 15th and

lets try to put a dent in the Middle Eastern oil industry for at least one

day.

 

If you agree (which I cant see why you wouldn't) resend this to all your

contact list. With it saying, ''Don't pump gas on May 15th"

[Rookie49]

.......and for those of you that think Ethanol is the answer......ANNNNHHHHHH, WRONG While it may drop fuel costs a few cents the increased corn usage, raises the cost of corn. The higher cost of corn is reflected in almost all of our other everyday goods, corn feeds cows(steak, milk), pigs(pork chops, bacon), chickens and try to find a product that doesn't have some type corn syrup in it.........

 

I know this from watching the story just on World News Tonight, not because I stayed at a Holiday Inn.

 

Face it we're screwed, blued and tattoed Guess we all stop eating and start walking. ~~~sigh~~~

 

Don't forget Reb There is not enough farmland in america to grow enough corn to supply all the ethanol we need much less food and fuel and feed all together.

[Jason]

Eventually Hydrogen will be the answer...hopefully. In Brazil they make their ethanol out of sugar cane. There are much more efficient crop sources to use other than corn. The reason all we hear is corn ethanol is because of the lobbyists for the corn industry. A friend of mine did a thesis paper on ethanol and it was pretty crazy how many crops are better sources than corn.

 

.......and for those of you that think Ethanol is the answer......ANNNNHHHHHH, WRONG While it may drop fuel costs a few cents the increased corn usage, raises the cost of corn. The higher cost of corn is reflected in almost all of our other everyday goods, corn feeds cows(steak, milk), pigs(pork chops, bacon), chickens and try to find a product that doesn't have some type corn syrup in it.........

 

I know this from watching the story just on World News Tonight, not because I stayed at a Holiday Inn.

 

Face it we're screwed, blued and tattoed Guess we all stop eating and start walking. ~~~sigh~~~

[thrss1]

i had this on my car last year some people know what it means some dont. but it fits this situation perfectly.

 

 

B. O. H. I. C. A.

[Racer Duck]

I'm probably gonna get booed (and maybe a death threat or two), but you guys are nuts!

 

You're bellyaching about the oil companys doing what they're supposed to do - make money. You're bellyaching that gas is too expensive. but you buy it anyway and still run to the Stop & Slip for a coke or cigs or a candy bar in your big ole gas guzzler... Why didn't you ride the 10 speed you bought to get in shape???

 

The fact is the oil companies are owned by people just like me and you. People with retirement funds or those who have a share or two of Exxon or Texaco that they bought some years ago in hopes they'd make a dime or two from it.

 

When was the last time you told your retirement fund you didn't want any of that oil money polluting your retirement fund? Did you send their dividend back? How many of you sold your oil company shares when the prices went up?

 

yeah, I thought so. I guess if you haven't been polluted by oil money you can bitch. But the rest of you need to think about how what you're wanting to happen to oil companies will affect your pocket book. Go ahead, find out where your retirement money is invested .. and your Mom's... and your grandparents...

[Rookie49]

I'm probably gonna get booed (and maybe a death threat or two), but you guys are nuts!

 

You're bellyaching about the oil companys doing what they're supposed to do - make money. You're bellyaching that gas is too expensive. but you buy it anyway and still run to the Stop & Slip for a coke or cigs or a candy bar in your big ole gas guzzler... Why didn't you ride the 10 speed you bought to get in shape???

 

The fact is the oil companies are owned by people just like me and you. People with retirement funds or those who have a share or two of Exxon or Texaco that they bought some years ago in hopes they'd make a dime or two from it.

 

When was the last time you told your retirement fund you didn't want any of that oil money polluting your retirement fund? Did you send their dividend back? How many of you sold your oil company shares when the prices went up?

 

yeah, I thought so. I guess if you haven't been polluted by oil money you can bitch. But the rest of you need to think about how what you're wanting to happen to oil companies will affect your pocket book. Go ahead, find out where your retirement money is invested .. and your Mom's... and your grandparents...

 

No threats here, Just nodding in agreement My money is in asian oil right now. Man I made 34% in the last year. If theprice of everything stalls, then so does the economy.

[zoom]

I hate the price of fuel.

but I gotta say this.

 

kwitcherbitchin

 

Vote.

 

Get the greedy, corrupt politician out of office.

 

Simple.

Come election time, if they are the incumbent, vote against them.

 

We gotta break the power cycle, state and national. otherwise, the lobbyists just get their way.

 

fire away.

[Rosie]

Actually, Mark, I agree and disagree with ya.

Except for the Gasoline Taxes, politicians got nothing to do with the price of gasoline (unless they have some Exxon stock or something in thier retirement funds).

They need to be voted out for even thinking about shoving this $1 Billion bond package down our throats.

[zoom]

Except for the Gasoline Taxes, politicians got nothing to do with the price of gasoline (unless they have some Exxon stock or something in thier retirement funds).

Actually they have a lot to do with it. They allow the minority tree huggers to run policy via, can't drill here or here. Gotta watch out for an owl, or a beetle or a blind salamander or a wild rice. Have to have so many different blends of fuel, so many regulations the oil companies won't build new refineries, etc. They don't do an honest investigation into the "gouge" part of the price at the pump. So there is a lot they are involved in.

 

The oil companies are responsible for some of it too. They do their best to lobby congress and pour millions into the individual polititcians pockets and pet projects to help them get re-elected.

 

The tree huggers love junk science and perpetuate myths such as global warming.

 

They need to be voted out for even thinking about shoving this $1 Billion bond package down our throats

let's do it!!!!

But wait, there are too many apathetic people in the country today that just want to get along.

This bond will pass because the general public doesn't understand what government is for, they think it is sugar daddy and as long as you give them a sucker or something they run off and are happy.

 

It must be Thursday. I think I pissed someone off now. But enough of this political talk, I gotta go take another blood pressure pill now.

[rebelracewriter]

Duck, no booing/threats here, you're entitled to your opinion. It's not that they make money that pisses me off.....it's the amount they make. Then instead of using it(profits) to help eleviate the high fuel costs they give themselves hefty little bonuses and pay raises. THAT'S what pisses me off!!!

 

 

Zoom......show me a non-currupt, non-greedy politician and maybe we can vote for him. (no offense intended rookie49) Where's that drunken old goat!!

 

thrss1----ok I'll be the one to ask......what is it?

 

Reduce usage????? Last weekend while traveling down I-10 there was a string of 4 SUV's that sailed by Sarge and I. Now I'll be the first to admit we weren't going the speed limit, but they passed us like we tied to a stump and left us in the their wake. I guess when you can afford one of those big suckers, you don't have to worry about affording gas. Meanwhile, those of us that struggle to get by keep getting sucked down their vacuum.