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bfp · 10-27-05, 10:58 AM

I love the fact that while we were struggling during the summer with these high gas prices, around 3.00-3.25 a gallon, the oil companies were pulling in record profits:

EXXON MOBIL: 75% profit
BP OIL: 89% profit

3rd quarter profits

Dionysos · 10-27-05, 12:27 PM

It's a good thing the GOP-controlled Congress & WH pushed through a bill with $2billion in subsidies for the oil industry. They sure seem to need it.

ChunkyAcidReflux · 10-27-05, 12:48 PM

Quote:

Originally Posted by bfp

I love the fact that while we were struggling during the summer with these high gas prices, around 3.00-3.25 a gallon, the oil companies were pulling in record profits:

EXXON MOBIL: 75% profit
BP OIL: 89% profit

3rd quarter profits

also notice that is profit based on last years profit. So they made 75% more money this year than last year when they made 84% more than the year before that when they make 60% more than the year before that.

The oil industry made a profit of 19 Billion dollars this year, thats fucking profit thats after paying all their bills and cost they put 19 Billion dollars in their pockets of free and clear cash. Prior to the Bush adminisration they averaged under 4 billion in profits per year.

Looks like they are getting a healthy return on their investment buying Bush and Cheney the presidency.

molecule · 10-27-05, 12:52 PM

Unrelated......
I heard an interesting figure about Haliburton yesterday. Their percent of profit for its Iraq contracts thus far is 2.4%. Thats less than my crappy 401K. So much for the Evil Haliburton being nothing but war profiteers.

Satchel · 10-27-05, 01:18 PM

I'm not buying that for a second. Do you have a link?

PETA · 10-27-05, 01:21 PM

Quote:

Originally Posted by Dionysos

It's a good thing the GOP-controlled Congress & WH pushed through a bill with $2billion in subsidies for the oil industry. They sure seem to need it.

what was the purpose of the subsidy?

I'm generally suspicious of corporate welfare and even more so when the subsidized industry is not in need (due to profits being earned) is being benefitted...

anyway - policy behind the subsidy?

PETA · 10-27-05, 01:22 PM

Quote:

Originally Posted by Satchel

I'm not buying that for a second. Do you have a link?

Why would you find it hard to believe that a company didn't turn big profits from such contracts? Just because of their connection with Cheney?

Satchel · 10-27-05, 01:32 PM

I'm just not buying that they did all that work, and hazard work at that for such a paltry profit margin. There has to be more to it, like them subbing out work to subsidiaries that turned out a much higher profit. Why do you have no problem believing it? Are you under the assumption that Haliburton is in this for pure patriotic reasons?

PETA · 10-27-05, 01:41 PM

Quote:

Originally Posted by Satchel

I'm just not buying that they did all that work, and hazard work at that for such a paltry profit margin. There has to be more to it, like them subbing out work to subsidiaries that turned out a much higher profit. Why do you have no problem believing it? Are you under the assumption that Haliburton is in this for pure patriotic reasons?

1) lots of contracts wind up being loss contracts - but a party that obligated itslef to perform has to perform - loss or no

2) Haliburton is a corporation - its purpose in life is to earn profit

molecule · 10-27-05, 01:41 PM

Here's the best link I could find Satchel.... "Profitability Grade: D-"
Im no stock anaylist, but this stock analysis company gives their profit margin a D-

http://quicktake.morningstar.com/Sto...cktab=snapshot

BLAZEN · 10-27-05, 01:42 PM

http://moneycentral.msn.com/content/...es/P134024.asp

molecule · 10-27-05, 01:44 PM

Quote:

Originally Posted by xian

Why would you find it hard to believe that a company didn't turn big profits from such contracts? Just because of their connection with Cheney?

because it goes against the very core of what the libs have been screaming for soooooooooooo long.

PETA · 10-27-05, 01:45 PM

Quote:

Originally Posted by molecule

because it goes against the very core of what the libs have been screaming for soooooooooooo long.

well of course there's that too

Satchel · 10-27-05, 01:55 PM

The devil is in the details. Their stock rating doesn't give a clear enough picture, but I do admit that is surprising.

molecule · 10-27-05, 01:57 PM

Quote:

Originally Posted by Satchel

The devil is in the details. Their stock rating doesn't give a clear enough picture, but I do admit that is surprising.

I was surprised myself Satchel, didnt mean to josh you like that. But when you think about it, their overhead has got to be HUGE.

10-27-05, 10:58 AM	#1 (permalink)
bfp Join Date: Nov 2001 Location: McKidney Posts: 4,278	Oil Profits I love the fact that while we were struggling during the summer with these high gas prices, around 3.00-3.25 a gallon, the oil companies were pulling in record profits: EXXON MOBIL: 75% profit BP OIL: 89% profit 3rd quarter profits

10-27-05, 01:42 PM	#11 (permalink)
BLAZEN Join Date: May 2003 Location: 420 STICKY BUDS LN Posts: 2,903	!!!!!!!!!!!!!!!!!!!!!!! http://moneycentral.msn.com/content/...es/P134024.asp __________________ http://affiliate.image-line.com/DEIIEHC491 http://www.causes.com/myspace/causes...er_id=41277477 -----> EXSPANDED MIND ENT. LLC-DALLAS <----- "Drugs have taught a whole generation of american kids the metric system" ""Be who you are and say what you feel because those who mind don't matter, and those who matter don't mind." Dr.Suess "Perhaps the most widespread and insidious form of human violence is ideological control." -Bruce H. Lipton

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10-27-05, 12:52 PM	#4 (permalink)
molecule Join Date: Jul 2004 Posts: 3,360	Unrelated...... I heard an interesting figure about Haliburton yesterday. Their percent of profit for its Iraq contracts thus far is 2.4%. Thats less than my crappy 401K. So much for the Evil Haliburton being nothing but war profiteers.

10-27-05, 01:18 PM	#5 (permalink)
Satchel Join Date: Jul 2002 Location: Plaino Posts: 2,973	I'm not buying that for a second. Do you have a link?

10-27-05, 01:32 PM	#8 (permalink)
Satchel Join Date: Jul 2002 Location: Plaino Posts: 2,973	I'm just not buying that they did all that work, and hazard work at that for such a paltry profit margin. There has to be more to it, like them subbing out work to subsidiaries that turned out a much higher profit. Why do you have no problem believing it? Are you under the assumption that Haliburton is in this for pure patriotic reasons?

10-27-05, 01:41 PM	#10 (permalink)
molecule Join Date: Jul 2004 Posts: 3,360	Here's the best link I could find Satchel.... "Profitability Grade: D-" Im no stock anaylist, but this stock analysis company gives their profit margin a D- http://quicktake.morningstar.com/Sto...cktab=snapshot

10-27-05, 01:55 PM	#14 (permalink)
Satchel Join Date: Jul 2002 Location: Plaino Posts: 2,973	The devil is in the details. Their stock rating doesn't give a clear enough picture, but I do admit that is surprising.