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Elbee
Zanzibar
Member since 5/05 10767 total posts
Name:
Me
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Is anyone else disturbed by this?
Record Profits????????? 
Exxon Mobil, Shell Earnings Jump as Oil, Gasoline Prices Soar
July 27 (Bloomberg) -- Exxon Mobil Corp. and Royal Dutch Shell Plc, the world's biggest and third-largest oil companies, posted combined second-quarter profits of almost $18 billion on record crude prices.
Net income at Exxon Mobil rose 36 percent from a year earlier to $10.4 billion, or $1.72 a share, the Irving, Texas- based company said today in a statement. Shell, based in The Hague, said its profit jumped 40 percent to $7.32 billion, or $1.13 a share. Both companies exceeded analyst expectations.
``The energy sector is again poised to be among the best- performing sectors in 2006, with a strong second half ahead,'' said Gene Pisasale, who helps manage $25 billion, including 4.9 million Exxon Mobil shares, at Mercantile Bankshares in Baltimore. ``Investors are underestimating the earnings power of this group.''
Exxon Mobil's revenue rose 12 percent to $99 billion, marking the first time in history that a U.S. company exceeded $1 billion a day. Sales swelled as crude-oil prices surged to an all-time high on demand gains and supply disruptions in Nigeria and the Gulf of Mexico.
``Earnings have just been spectacular,'' said Barry James, who manages $1.7 billion, including 54,500 Exxon Mobil shares, at James Investment Research in Xenia, Ohio. ``Cash flow is going gangbusters.''
Record Quarter
The second quarter is shaping up as the richest three months ever for the world's six largest publicly traded oil companies. BP Plc, Europe's biggest producer, on July 25 said net income rose 30 percent to $7.27 billion. ConocoPhillips, the third-largest U.S. oil company, yesterday said its profit jumped 65 percent to a record $5.19 billion.
Based on results from the four companies that have reported earnings for the period and average analyst estimates for the two that haven't -- France's Total SA and Chevron Corp. of the U.S. -- the biggest producers netted almost $40 billion in the quarter, up about 35 percent from a year earlier.
BP and ConocoPhillips, like Exxon Mobil and Shell, exceeded analyst expectations for their earnings.
Oil futures in the U.S., which burns a quarter of the world's petroleum, averaged $70.72 a barrel during the second quarter, 33 percent higher than a year earlier. Prices touched a record $78.40 a barrel on July 14 and have more than tripled since the end of 2001.
The average U.S. margin on processing crude oil into gasoline and diesel widened 41 percent to almost $16 a barrel, based on futures prices. That topped the record average, set in the third quarter of 2005, when hurricanes lashed Gulf Coast refineries and wrecked wells, ports and pipelines.
Gasoline Rises
Prices for refined fuels rose as demand increased and some companies idled processing plants for maintenance and repairs.
U.S. retail gasoline prices rose 30 percent from a year earlier to a second-quarter average of $2.849 a gallon, according to the Energy Department in Washington. Diesel climbed 26 percent to $2.845 a gallon.
Natural-gas futures traded 4.4 percent lower than a year earlier, at an average of $6.646 per million British thermal units. Warmer-than-normal temperatures in much of the U.S. curbed demand for the heating fuel.
Exxon Mobil took greater advantage of the price gains by increasing production 6.2 percent from a year earlier to the equivalent of 4.16 million barrels of oil a day. BP and Shell had second-quarter production declines of 2.5 percent and 7.7 percent, respectively.
Apache, Petro-Canada
Shares of Exxon Mobil rose 86 cents, or 1.3 percent, to $67.46 at 10:27 a.m. in New York Stock Exchange composite trading. Shell's London-traded ``A'' shares rose 2.2 percent to 1,913 pence ($35.66).
Smaller producers also reported profit gains today. Houston-based Apache Corp., the second-biggest independent producer in the Gulf of Mexico, said its profit rose 23 percent to $723.6 million, or $2.17 a share.
Petro-Canada, the third-largest Canadian producer, posted a 37 percent gain in net income to C$472 million ($416.3 million), or 92 cents a share.
Earnings more than doubled at Canada's Talisman Energy Inc. to a record C$686 million, or 61 cents a share.
To contact the reporter on this story:
Joe Carroll in Houston at [email protected].
Last Updated: July 27, 2006 10:31 EDT Link
Message edited 7/28/2006 8:46:16 AM.
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Posted 7/28/06 8:42 AM  |
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Long Island Weddings
Long Island's Largest Bridal Resource |
LadyMaravilla
Fall Is Here
Member since 5/05 12023 total posts
Name:
Sonia
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Re: Is anyone else disturbed by this?
  (for my wallet)
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| Posted 7/28/06 8:43 AM |
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2PreciousBlessings
The Perfect Pair
Member since 5/06 19861 total posts
Name:
Best Wife & Mommy
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Re: Is anyone else disturbed by this?
I am certainly. More money out my wallet.
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| Posted 7/28/06 8:44 AM |
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Emily
Kasey & Me! Lurves it!
Member since 7/06 8703 total posts
Name:
STBHC
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Re: Is anyone else disturbed by this?
I cannot be upset by it...I am one of the ppl that drives a SUV! I drive it for safety and winter traction...if I pay more for gas, its not a big deal when it comes down to it.
The reason they get off charging more and their profit rises is because of the SUV ppl...we allow them to get away with this, but I am not changing my SUV in for a smaller car to change this.
The "man" in this case the Petroleum Man has always raised his prices on the weekends and holidays...why? cause more ppl use their vehicle at this time than any other part of the year. Sooo the Man makes a buck all the time we just notice it now.
When I go to the pump I wave my Speedpass, pump it and go on my way w/o even checking the price...cause it is a necessity. 
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| Posted 7/28/06 8:52 AM |
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MikesWife
Wanting...........
Member since 1/06 6887 total posts
Name:
Karen
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Re: Is anyone else disturbed by this?
I can't really be upset with this because
(1) I love my SUV and will not trade it in, and
(2) If I am willing to spend $2.48 on a 24 oz DD Ice Coffee, I can't complain that gas is $3.19 gallon.
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| Posted 7/28/06 8:55 AM |
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Freddie
LIF Adult
Member since 3/06 1162 total posts
Name:
Freddie
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Re: Is anyone else disturbed by this?
I try to look at it from a business persepctive. If the dairy/farm industry made these huge profits would I be just as upset? Maybe not.
If Cococola or Ford? Definitely not.
Gas Prices have just caused me to drive less and be much more conscious of how I drive. (not taking off at a red light, etc)
My sincerest hope, is that they take those profits and put it into research like they claim they are going to do.
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| Posted 7/28/06 8:56 AM |
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SweetestOfPeas
J'taime Paris!
Member since 3/06 32345 total posts
Name:
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Re: Is anyone else disturbed by this?
Posted by Ricki
My sincerest hope, is that they take those profits and put it into research like they claim they are going to do.
 yea right! I'll believe that when I see it! why would they invest money so that their profits would suffer in the future.
IMO, it's ridiculous! as much as I hate to have the Gov't involved, I think that necessities in life should NOT be a commodity!
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| Posted 7/28/06 8:58 AM |
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MrsPorkChop
Twinning!!
Member since 5/05 9941 total posts
Name:
Missy
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Re: Is anyone else disturbed by this?
People dont understand this but crude oil is very very expensive. ITs almost $80 a barrel. I remember when $25 a barrel was high.....
Oil companies have to BUY this crude oi to make and refine it to gasoline. Its the the high CRUDE oil that is to blame- not the gas companies.
Just an example-
Let's say wool went up in price over the winter due to "Trade resritrictons" on sheep, and J crew raised the prices of their sweaters this winter, yet reported a profit, because its winter and people need sweaters, would you be disturbed by that?
Im not saying that they are 100% innocent, but the public needs to understand the way it works, before blaming 100% the wrong people.
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| Posted 7/28/06 9:00 AM |
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Freddie
LIF Adult
Member since 3/06 1162 total posts
Name:
Freddie
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Re: Is anyone else disturbed by this?
I don't think oil companies have to limit themselves to oil. I think most oil companies are experiementing in Hydrogren and renewable fuels. It makes sense for them to do that and it seems that a small demand for them is rising.
Almost makes me want to get a deisel car so I can use ethynol. 
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| Posted 7/28/06 9:01 AM |
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Sassyz75
Turning a new page
Member since 5/05 9731 total posts
Name:
Dina
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Re: Is anyone else disturbed by this?
It annoys me- but I want it to go higher- maybe then people will stop abusing natural resources and give a little more care to our environment. Everyone knows there's a problem w/ our environment and global warming, yet everyone feels entitled to suck up all their gas in their SUVs ....
Face it- if no one had an SUV no one would need one (maybe except farmers or construction workers) b/c we'd all feel safer on the roads with our "little cars".
I think it's time everyone takes a look at how their habits and consumptions effect the world around them- it's a lot more than prices. We need to be more aware of what's going on beyond our own pocket books and our "needs" that are spoon fed to us by advertising agencies..
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| Posted 7/28/06 9:20 AM |
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Re: Is anyone else disturbed by this?
Posted by Sassyz75
It annoys me- but I want it to go higher- maybe then people will stop abusing natural resources and give a little more care to our environment. Everyone knows there's a problem w/ our environment and global warming, yet everyone feels entitled to suck up all their gas in their SUVs ....
Face it- if no one had an SUV no one would need one (maybe except farmers or construction workers) b/c we'd all feel safer on the roads with our "little cars".
I think it's time everyone takes a look at how their habits and consumptions effect the world around them- it's a lot more than prices. We need to be more aware of what's going on beyond our own pocket books and our "needs" that are spoon fed to us by advertising agencies..
It's interesting to visit overseas and see how hardly anyone drives SUVS- when DH and I were in Ireland last summer we saw maybe two SUVs. Everyone else drives these little cars, and clearly even people with kids manage.
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| Posted 7/28/06 9:28 AM |
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MikesWife
Wanting...........
Member since 1/06 6887 total posts
Name:
Karen
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Re: Is anyone else disturbed by this?
Posted by Sassyz75
It annoys me- but I want it to go higher- maybe then people will stop abusing natural resources and give a little more care to our environment. Everyone knows there's a problem w/ our environment and global warming, yet everyone feels entitled to suck up all their gas in their SUVs ....
Face it- if no one had an SUV no one would need one (maybe except farmers or construction workers) b/c we'd all feel safer on the roads with our "little cars".
I think it's time everyone takes a look at how their habits and consumptions effect the world around them- it's a lot more than prices. We need to be more aware of what's going on beyond our own pocket books and our "needs" that are spoon fed to us by advertising agencies..
A 6-8 cylinder mustang or infinity uses as much gas as an SUV. My DH's mustang, which is technically a pretty small car (it barely holds 3 people), uses more gas than my Ford Escape.
And my sister's infinity (another car) barely gets 15 miles per gallon.
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| Posted 7/28/06 9:32 AM |
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Emily
Kasey & Me! Lurves it!
Member since 7/06 8703 total posts
Name:
STBHC
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Re: Is anyone else disturbed by this?
Posted by Sassyz75
It annoys me- but I want it to go higher- maybe then people will stop abusing natural resources and give a little more care to our environment. Everyone knows there's a problem w/ our environment and global warming, yet everyone feels entitled to suck up all their gas in their SUVs ....
Face it- if no one had an SUV no one would need one (maybe except farmers or construction workers) b/c we'd all feel safer on the roads with our "little cars".
I think it's time everyone takes a look at how their habits and consumptions effect the world around them- it's a lot more than prices. We need to be more aware of what's going on beyond our own pocket books and our "needs" that are spoon fed to us by advertising agencies..
If I did not have to travel an Expressway twice a day and could take a Parkway...maybe I would be more comfortable with a smaller car. BUT my gas guzzling SUV saved my life and that is all I need to know.
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| Posted 7/28/06 9:34 AM |
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Karen
Just chillin'!!
Member since 1/06 9690 total posts
Name:
Karen
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Re: Is anyone else disturbed by this?
unfortunately they are like any other business and they need to show their investors a profit.
again - it's all about supply and demand. if we didn't demand so much of it and they were stuck with an excess supply, cost would have to come down.
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| Posted 7/28/06 9:51 AM |
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LIMOMx2
...
Member since 5/05 24989 total posts
Name:
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Re: Is anyone else disturbed by this?
I have a lot of stock in Exxon so I am not disturbed
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| Posted 7/28/06 9:57 AM |
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Sassyz75
Turning a new page
Member since 5/05 9731 total posts
Name:
Dina
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Re: Is anyone else disturbed by this?
Posted by EmilyAKAMrsK
Posted by Sassyz75
It annoys me- but I want it to go higher- maybe then people will stop abusing natural resources and give a little more care to our environment. Everyone knows there's a problem w/ our environment and global warming, yet everyone feels entitled to suck up all their gas in their SUVs ....
Face it- if no one had an SUV no one would need one (maybe except farmers or construction workers) b/c we'd all feel safer on the roads with our "little cars".
I think it's time everyone takes a look at how their habits and consumptions effect the world around them- it's a lot more than prices. We need to be more aware of what's going on beyond our own pocket books and our "needs" that are spoon fed to us by advertising agencies..
If I did not have to travel an Expressway twice a day and could take a Parkway...maybe I would be more comfortable with a smaller car. BUT my gas guzzling SUV saved my life and that is all I need to know.
but that's the point- it's like dominos- the more people who have them, the more people FEEL the need to have them. Plus- in terms of vehicle safety- SUVS aren't the highest rated.
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| Posted 7/28/06 10:15 AM |
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Sassyz75
Turning a new page
Member since 5/05 9731 total posts
Name:
Dina
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Re: Is anyone else disturbed by this?
Posted by MikesWife
Posted by Sassyz75
It annoys me- but I want it to go higher- maybe then people will stop abusing natural resources and give a little more care to our environment. Everyone knows there's a problem w/ our environment and global warming, yet everyone feels entitled to suck up all their gas in their SUVs ....
Face it- if no one had an SUV no one would need one (maybe except farmers or construction workers) b/c we'd all feel safer on the roads with our "little cars".
I think it's time everyone takes a look at how their habits and consumptions effect the world around them- it's a lot more than prices. We need to be more aware of what's going on beyond our own pocket books and our "needs" that are spoon fed to us by advertising agencies..
A 6-8 cylinder mustang or infinity uses as much gas as an SUV. My DH's mustang, which is technically a pretty small car (it barely holds 3 people), uses more gas than my Ford Escape.
And my sister's infinity (another car) barely gets 15 miles per gallon.
I agree with you- I think everyone should buy cars based upon gas mileage and not some marketing campaign designed to make us "feel good' or self fulfilled.
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| Posted 7/28/06 10:16 AM |
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Diane
Hope is Contagious....catch it
Member since 5/05 30683 total posts
Name:
D
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Re: Is anyone else disturbed by this?
DH will NEVER get gas from Exxon, even if is the cheapest around
Message edited 7/28/2006 10:17:53 AM.
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| Posted 7/28/06 10:17 AM |
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dandr10199
Grace is growing up too fast!
Member since 10/05 11561 total posts
Name:
Dina
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Re: Is anyone else disturbed by this?
Posted by 5ofClubs
I have a lot of stock in Exxon so I am not disturbed
Same here! In the words of Jim Cramer (Mad Money), buying oil stocks is the BEST way to lower your gas prices. We have stock in a few.
If you make $$ on the stock and apply that extra $$ towards your gasoline budget, it all come out in the wash, ya know?
Message edited 7/28/2006 10:18:47 AM.
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| Posted 7/28/06 10:18 AM |
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Emily
Kasey & Me! Lurves it!
Member since 7/06 8703 total posts
Name:
STBHC
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Re: Is anyone else disturbed by this?
Posted by Sassyz75
Posted by EmilyAKAMrsK
Posted by Sassyz75
It annoys me- but I want it to go higher- maybe then people will stop abusing natural resources and give a little more care to our environment. Everyone knows there's a problem w/ our environment and global warming, yet everyone feels entitled to suck up all their gas in their SUVs ....
Face it- if no one had an SUV no one would need one (maybe except farmers or construction workers) b/c we'd all feel safer on the roads with our "little cars".
I think it's time everyone takes a look at how their habits and consumptions effect the world around them- it's a lot more than prices. We need to be more aware of what's going on beyond our own pocket books and our "needs" that are spoon fed to us by advertising agencies..
If I did not have to travel an Expressway twice a day and could take a Parkway...maybe I would be more comfortable with a smaller car. BUT my gas guzzling SUV saved my life and that is all I need to know.
but that's the point- it's like dominos- the more people who have them, the more people FEEL the need to have them. Plus- in terms of vehicle safety- SUVS aren't the highest rated.
I understand your opinion and I respect you stand by it 100%. From my experience, I also have to stand by my opinion 100%..an example:
One month after I got my latest SUV, I was in the front of a 3 car accident on the LIE...the middle car was smooshed, the back car was smooshed and the back bumper fell off my SUV.
One more example...when we were rear ended in college by a speeding drunk, again my back bumper fell off my SUV and his car was wrecked.
I can only go by my experience, the one time *knock on wood, spit spit* I was in an accident in a car, I ended up in the ER and I don't really remember what happened. I was shown pictures of what was left wrapped around a telephone pole and totaled (sp?).
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| Posted 7/28/06 10:21 AM |
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