Exxon posts record profit...again
Thread Starter
Joined: Jun 2001
Posts: 4,766
Likes: 8
From: Queens, NY
Exxon posts record profit...again
Exxon Mobil posts record $45.2 billion profit
HOUSTON - Exxon Mobil reported a profit of $45.2 billion for 2008 Friday, breaking its own record for full-year earnings by a public U.S. company, but fourth-quarter profits tumbled 33 percent.
The fourth-quarter decline is not a surprise with oil
HOUSTON - Exxon Mobil reported a profit of $45.2 billion for 2008 Friday, breaking its own record for full-year earnings by a public U.S. company, but fourth-quarter profits tumbled 33 percent.
The fourth-quarter decline is not a surprise with oil
Registered User
Joined: Jul 2008
Posts: 2,450
Likes: 0
i bet the bastards will have record profits again this year crude is 42.35 a barrel, gas is 1.90, the best part about it, NO ONE in the gulf if flowing crude right now because of the hurricanes, were flowing natural gas, so guess where our oil is coming from
Joined: Jan 2007
Posts: 32,283
Likes: 0
From: Cincinnati, OH
i look at oil companies like this. they are selling a non-renewable resource. but what are they really selling?
energy.
so if they want to continue being profitable after oil is gone, they'll need to have some other way to provide energy. theoretically, that means they should be putting that money into investing in new ideas and technologies. assuming that is the case, i have no problem with their record profits.
however, some companies in the past haven't really thought this through. example - railroad companies. they all forgot that at the end of the day, they provided *transportation* .... so when airlines came around and took all their transportation business, they died out. had they invested in the new tech, those companies would still be in business.
so what if the oil companies DON'T reinvest in new tech with these record profits? they'll go away, and a new company will take over with the new tech they've developed. no big deal, capitalism at work.
to boil this down to two sentences.... i don't care about their profits. they'll either invest intelligently or go out of business in a couple decades.
energy.
so if they want to continue being profitable after oil is gone, they'll need to have some other way to provide energy. theoretically, that means they should be putting that money into investing in new ideas and technologies. assuming that is the case, i have no problem with their record profits.
however, some companies in the past haven't really thought this through. example - railroad companies. they all forgot that at the end of the day, they provided *transportation* .... so when airlines came around and took all their transportation business, they died out. had they invested in the new tech, those companies would still be in business.
so what if the oil companies DON'T reinvest in new tech with these record profits? they'll go away, and a new company will take over with the new tech they've developed. no big deal, capitalism at work.
to boil this down to two sentences.... i don't care about their profits. they'll either invest intelligently or go out of business in a couple decades.
Trending Topics
Registered User
Joined: Mar 2007
Posts: 7,899
Likes: 1
Originally Posted by thebig33tuna' date='Jan 30 2009, 12:56 PM
i look at oil companies like this. they are selling a non-renewable resource. but what are they really selling?
energy.
so if they want to continue being profitable after oil is gone, they'll need to have some other way to provide energy. theoretically, that means they should be putting that money into investing in new ideas and technologies. assuming that is the case, i have no problem with their record profits.
however, some companies in the past haven't really thought this through. example - railroad companies. they all forgot that at the end of the day, they provided *transportation* .... so when airlines came around and took all their transportation business, they died out. had they invested in the new tech, those companies would still be in business.
so what if the oil companies DON'T reinvest in new tech with these record profits? they'll go away, and a new company will take over with the new tech they've developed. no big deal, capitalism at work.
to boil this down to two sentences.... i don't care about their profits. they'll either invest intelligently or go out of business in a couple decades.
energy.
so if they want to continue being profitable after oil is gone, they'll need to have some other way to provide energy. theoretically, that means they should be putting that money into investing in new ideas and technologies. assuming that is the case, i have no problem with their record profits.
however, some companies in the past haven't really thought this through. example - railroad companies. they all forgot that at the end of the day, they provided *transportation* .... so when airlines came around and took all their transportation business, they died out. had they invested in the new tech, those companies would still be in business.
so what if the oil companies DON'T reinvest in new tech with these record profits? they'll go away, and a new company will take over with the new tech they've developed. no big deal, capitalism at work.
to boil this down to two sentences.... i don't care about their profits. they'll either invest intelligently or go out of business in a couple decades.
w/ everything but the last line
Registered User
Joined: Sep 2006
Posts: 2,440
Likes: 1
From: NORCAL
Originally Posted by Wildncrazy' date='Jan 30 2009, 08:37 AM
It will be interesting to hear Obama's reaction.