Record Gas Prices equal Record Oil Company Profits - Printable Version

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Record Gas Prices equal Record Oil Company Profits - Lou - 06-01-2009 07:50 AM

So, here we are again, at the point in the year where we wait for the gluttonous oil companies to raise prices out of control so the downtrodden American public has to think twice about every little automobile ride they make.
The companies say it's market forces at work...and they can't control the prices...but who among us believe that? Possibly the Senators or Congressman they are paying off to get away with this travesty can get behind that stupidity, but your average middle class working mule - nah, we ain't buying it - lets examine the facts:
In 2005 Exxon made record profits of 36 BILLION dollars - that year, their CEO, Lee Raymond made over $51 million dollars. That's nearly $1 million dollars a week. Where does this obscene money come from??? Well, dear consumer, you are paying it at the gas pump - (uncontrollable market forces, remember?) Guess what Mr. Raymonds retirement package was valued at the following year? How about $400 million DOLLARS!
How about Exxon's 2008 profit: A record $45 billion!
Folks - enough is enough....its time to punish these greedy, gluttonous slobs and some are even calling for trying them for treason against the United States of America. I'd have to agree. It has to stop.

RE: Record Gas Prices = Record Oil Company Profits - redryder - 06-08-2009 06:56 AM

Time to put these fat slobs in jail - especially when the stockholders are either too stupid or too "insider" to stop it. SEC, where are you? Government, where are you? Were you both not looking out for the public interest? NO? Time for every single official who COULD have done something about this, to resign, and resign immediately.
This is criminal at the very least. Stockholder money is not supposed to be used for executive mad money - people WAKE UP! These fat pigs are killing this economy - hey, but maybe you like paying outrageous amounts of money for gasoline, in that case, just ignore all this and go about your business.

RE: Record Gas Prices = Record Oil Company Profits - dooley - 06-12-2009 09:07 AM

Those numbers are staggering to say the least.
I second the motion to have these people tried for treason - making a fair profit is one thing, putting the country in a stranglehold to add to your own wealth is unconscionable.
And yet, while they profess to paying in, they essentially pay NO taxes whatsoever on their obscene profits.
WHERE IS THE U.S. GOVERNMENT and IRS???? IRS, stop busting the chops of hardworking citizens and go after these fat cats!!!!!
NOTE TO HOUSE AND SENATE - you better correct the tax code that allows this and other companies to trample all over the entire country like this. DO YOUR JOBS!

RE: Record Gas Prices = Record Oil Company Profits - angry taxpayer - 06-22-2009 06:47 AM

What kills me is that we're still depending on fossil fuels to drive cars - back in the early 1900's they had battery operated vehicles (baker). Now, with all the advances with solar energy and passive battery systems, hybrids and more forms of renewable energy - WHY are we still cowtowing to these despicable oil companies?????
And...btw, I WOULD be in favor of holding these oil barons in contempt or even treason if anyone ever asked me to vote on it - they are the FARTHEST thing from compassionate, loyal or patriotic Americans. they revere only one thing: money. The only entity worse or even close to this kind of dirty greed is the pharmaceutical companies that will try and force you to believe they need to charge those outrageous prices so they can continue to research new medicine. Bull. Its greed, you know it and we know it.

RE: Record Gas Prices = Record Oil Company Profits - WNY Nurse - 08-04-2009 07:52 PM

Gas prices outside of NY are $1.69 - Just got back from vacation in South Carolina and thats the price per gallon. Something doesn't add up folks. We are allowing this craziness.

RE: Record Gas Prices = Record Oil Company Profits - dooley - 09-13-2010 02:51 PM

So, here we are, its the end of 2010 and gas prices have hovered at almost $3/gallon now for almost a year...and what market forces are keeping the gas prices up still?
If you guessed corporate greed and a corrupt government, you'd be correct!

Take a look, suckers:

Rex W. Tillerson, chairman and CEO of Exxon Mobil, received $22.4 million in compensation in 2008, according to the oil giant’s latest filing with the Securities and Exchange Commission.

The figure represents an increase over the $16.7 million in total compensation Tillerson received in 2007.

The CEO's total 2008 compensation includes a salary of $1.8 million, a bonus of $4 million, stock awards valued at $7.8 million, $8.2 million tied to his pension and stock options, as well as $446,826 in other compensation.

Exxon Mobil Corp. posted a 33-percent decline in net earnings for the fourth quarter of 2008 on expenses associated with damage repairs and lower volumes tied to hurricanes, but still reported record earnings for all of 2008.

The Dallas-based oil giant’s earnings were $570 million lower because of repairs and lower volumes tied to Hurricanes Ike and Gustav, the company said in a press statement.

ExxonMobil (NYSE: XOM) posted a profit of $7.82 billion, or $1.55 per share, which is 33 percent lower than its earnings of $11.66 billion, or $2.13 per share, during the same quarter a year earlier.

The company’s fourth-quarter revenue was $84.70 billion, down from $116.6 billion during the same period last year. Its 2008 profit grew to $45.2 billion, or $8.69 a share, a record, up from $40 billion in 2007. Revenue also grew in 2008 to $477 billion, up from $404 billion the year prior.
NEW YORK ( -- Exxon Mobil reported the largest annual profit in U.S. history Friday, making $45.22 billion on the back of record oil prices.

RE: Record Gas Prices = Record Oil Company Profits - angry taxpayer - 10-14-2010 08:06 PM

Well, for at least the last few months gas is around $3.90/gal.
Its time for the revolution to begin and the first ones hung for treason should be the big oil tycoons....then, the rest of wall street.