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dalbuc

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#30 : May 13, 2007, 09:37:35 PM



I mean really..when was the last time they didnt have record or damn near record profits every quarter.


http://www.washingtonpost.com/wp-dyn/content/article/2005/10/27/AR2005102702399.html

For instance, in 2004 Exxon Mobil earned more money -- $25.33 billion -- than any other company on the Fortune 500 list of largest corporations. But by another measure of profitability, gross profit margin, it ranked No. 127....Most financial institutions, such as commercial banks, are routinely more profitable than Exxon Mobil was in its third quarter. For example, Exxon Mobil's gross margin of 9.8 cents of profit for every dollar of revenue pales in comparison to Citigroup Inc.'s 15.7 cents in 2004. By percentage of total revenue, banking is consistently the most profitable industry in America, followed closely by the drug industry....By other measures, such as profit per employee, return on invested capital and free cash flow, Exxon Mobil is nowhere near a standout.

http://www.msnbc.msn.com/id/8646744/

Even as their overall profits have soared, major oil companies are earning a relatively modest 8.7 percent profit margin -- the portion of the sale of each barrel that hits the bottom line.

http://www.sfgate.com/cgi-bin/article.cgi?file=/c/a/2005/10/28/MNGFHFFHP51.DTL

Indeed, some of the firms — including Exxon Mobil — have reported lower profit margins in their retail operations than Wall Street expected, Vital said. That suggests those companies didn’t pass on to customers the full crude-oil price increase, keeping gasoline prices at their service stations lower than they might have been.

All posts are opinions in case you are too stupid to figure that out on your own without me saying it over and over.

ufojoe

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#31 : May 14, 2007, 12:16:36 AM

For those interested...

http://www.gregpalast.com/its-still-the-oilsecret-condi-meeting-on-oil-before-invasion

It’s STILL The Oil:
Secret Condi Meeting on Oil Before Invasion
Published March 18th, 2007 in Articles

by Greg Palast

Four years ago this week, the tanks rolled for what President Bush originally called, “Operation Iraqi Liberation” — O.I.L.

I kid you not.

And it was four years ago that, from the White House, George Bush, declaring war, said, “I want to talk to the Iraqi people.” That **CENSORED** Cheney didn’t tell Bush that Iraqis speak Arabic … well, never mind. I expected the President to say something like, “Our troops are coming to liberate you, so don’t shoot them.” Instead, Mr. Bush told, the Iraqis,

“Do not destroy oil wells.“

Nevertheless, the Bush Administration said the war had nothing to do with Iraq’s oil. Indeed, in 2002, the State Department stated, and its official newsletter, the Washington Post, repeated, that State’s Iraq study group, “does not have oil on its list of issues.”

But now, we’ve learned that, despite protestations to the contrary, Condoleezza Rice held a secret meeting with the former Secretary-General of OPEC, Fadhil Chalabi, an Iraqi, and offered Chalabi the job of Oil Minister for Iraq. (It is well established that the President of the United States may appoint the cabinet ministers of another nation if that appointment is confirmed by the 101st Airborne.)

In all the chest-beating about how the war did badly, no one seems to remember how the war did very, very well — for Big Oil.

The war has kept Iraq’s oil production to 2.1 million barrels a day from pre-war, pre-embargo production of over 4 million barrels. In the oil game, that’s a lot to lose. In fact, the loss of Iraq’s 2 million barrels a day is equal to the entire planet’s reserve production capacity.

In other words, the war has caused a hell of a supply squeeze — and Big Oil just loves it. Oil today is $57 a barrel versus the $18 a barrel price under Bill “Love-Not-War” Clinton.

Since the launch of Operation Iraqi Liberation, Halliburton stock has tripled to $64 a share — not, as some believe, because of those Iraq reconstruction contracts — peanuts for Halliburton. Cheney’s former company’s main business is “oil services.” And, as one oilman complained to me, Cheney’s former company has captured a big hunk of the rise in oil prices by jacking up the charges for Halliburton drilling and piping equipment.

But before we shed tears for Big Oil’s having to hand Halliburton its slice, let me note that the value of the reserves of the five biggest oil companies more than doubled during the war to $2.36 trillion.

And that was the plan: putting a new floor under the price of oil. I have that in writing. In 2005, after a two-year battle with the State and Defense Departments, they released to my team at BBC Newsnight the “Options for a Sustainable Iraqi Oil Industry.” Now, you might think our government shouldn’t be writing a plan for another nation’s oil. Well, our government didn’t write it, despite the State Department seal on the cover. In fact, we discovered that the 323-page plan was drafted in Houston by oil industry executives and consultants.

The su**CENSORED**ion is that Bush went to war to get Iraq’s oil. That’s not true. The document, and secret recordings of those in on the scheme, made it clear that the Administration wanted to make certain America did not get the oil. In other words, keep the lid on Iraq’s oil production — and thereby keep the price of oil high.

Of course, the language was far more subtle than, “Let’s cut Iraq’s oil production and jack up prices.” Rather, the report uses industry jargon and euphemisms which require Iraq to remain an obedient member of the OPEC cartel and stick to the oil-production limits — “quotas” — which keep up oil prices.

The Houston plan, enforced by an army of occupation, would, “enhance [Iraq’s] relationship with OPEC,” the oil cartel.

And that’s undoubtedly why Condoleezza Rice asked Fadhil Chalabi to take charge of Iraq’s Oil Ministry. As former chief operating officer of OPEC, the oil cartel, Fadhil was a Big Oil favorite, certain to ensure that Iraq would never again allow the world to slip back to the Clinton era of low prices and low profits. (In investigating for BBC, I was told by the former chief of the CIA’s oil unit that he’d met with Fadhil regarding oil at Bush’s request. Fadhil recently complained to the BBC. He denied the meeting with the Bush emissary in London because, he noted, he was secretly meeting that week in Washington with Condi!)

Fadhil, by the way, turned down Condi’s offer to run Iraq’s Oil Ministry. Ultimately, Iraq’s Oil Ministry was given to Fadhil’s fellow tribesman, Ahmad Chalabi, a convicted bank swindler and neo-con idol. But whichever Chalabi is nominal head of Iraq’s oil industry in Baghdad, the orders come from Houston. Indeed, the oil law adopted by Iraq’s shaky government this month is virtually a photocopy of the “Options” plan first conceived in Texas long before Iraq was “liberated.”

In other words, the war has gone exactly to plan — the Houston plan. So forget the naïve cloth-rending about a conflict gone haywire. Exxon-Mobil reported a record $10 billion profit last quarter, the largest of any corporation in history. Mission Accomplished.

Watch Palast’s original BBC Newsnight Report.

dalbuc

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#32 : May 14, 2007, 08:48:18 AM

In other words, the war has gone exactly to plan — the Houston plan. So forget the naïve cloth-rending about a conflict gone haywire. Exxon-Mobil reported a record $10 billion profit last quarter, the largest of any corporation in history. Mission Accomplished.

Greg obviously got his degree in journalism and not economics or his goofy theory would account for the profit margins information i posted above.

All posts are opinions in case you are too stupid to figure that out on your own without me saying it over and over.

Morgan

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#33 : May 14, 2007, 11:29:04 AM

We Americans are spoiled. We drive big butt SUVs that get 10 mpg, we don't exercise/walk/ride bicycles, we're fat, and we whine over the price of gasoline.  Go to Europe and see what they pay for gasoline.  They walk, ride, and drive small 4-cylinder automobiles that get at least 30-40 mpg. They have a great mass transit system - trains/buses (we don't).  They pay heavy taxes on their gasoline purchases in addition to their already expensive price for fuel. They have sidewalks (for walking), we rarely do.

We have it well in USA. Stop whining, buy a smaller car, and get some exercise, and car pool.
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