Could someone help me understand... - Pensacola Fishing Forum

Go Back   Pensacola Fishing Forum > General Discussion > Off Topic

Reply
 
Thread Tools Search this Thread Display Modes
Old 07-31-2008, 04:12 PM   #1
Senior Member
White Marlin
 
Wharf Rat's Avatar
 
Join Date: Sep 2007
Location: Milton, FL
Posts: 3,048
Default Could someone help me understand...

why Exxon's profit was over 11 billion for 2Q of 2008? I'm sure there will be numerous explanations from folks, but I just don't understand. In most industries, sky rocketing costs of the raw materials would put them under...and quick.
Wharf Rat is offline   Reply With Quote Quick reply to this message
 

Sponsored Links
Advertisement
 
Old 07-31-2008, 04:14 PM   #2
Registered User
Snapper
 
Join Date: Oct 2007
Posts: 470
Default RE: Could someone help me understand...

speculation is it was a supply and demand profit:moon
user285 is offline   Reply With Quote Quick reply to this message
Old 07-31-2008, 04:23 PM   #3
Senior Member
White Marlin
 
Wharf Rat's Avatar
 
Join Date: Sep 2007
Location: Milton, FL
Posts: 3,048
Default RE: Could someone help me understand...

Quote:
Bow Down (7/31/2008)speculations is it was a supply and demand profit:moon


I just got back from the bathroom taking a speculation. Whew, didn't see that one coming.
Wharf Rat is offline   Reply With Quote Quick reply to this message
Old 07-31-2008, 04:37 PM   #4
Senior Member
Grouper
 
Join Date: Oct 2007
Location: Pensacola, Florida
Posts: 690
Default RE: Could someone help me understand...

Quote:
Wharf Rat (7/31/2008)why Exxon's profit was over 11 billion for 2Q of 2008? I'm sure there will be numerous explanations from folks, but I just don't understand. In most industries, sky rocketing costs of the raw materials would put them under...and quick.
Not when prices at the pump rise in speculation before the raw material priceactually goes up. Gas prices also are historically sticky in the downward direction, so they make the increased margin in both directions.
Gonnamissher is offline   Reply With Quote Quick reply to this message
Old 07-31-2008, 05:02 PM   #5
Senior Member
Mingo
 
bayou bandit's Avatar
 
Join Date: Oct 2007
Posts: 172
Default RE: Could someone help me understand...

It has to do with economies of scale. The major oil companies are the largest corporations on the planet. They deal in tremendous amounts of volume of the most volatile/desirable commodity. Actually, for most of them, the retail gas business is where their thinnest margin for profit is located. Everyone slams big oil for the price of gas, however that is a very small part of their profits, and the majority of those gas profits are made outside of the US.

Believe it or not, Exxon is making so little in their US retail division that they are completely getting out of it. Link:

http://www.thestreet.com/story/10421...relatedarticle
bayou bandit is offline   Reply With Quote Quick reply to this message
Old 07-31-2008, 06:39 PM   #6
Senior Member
Mingo
 
booyahfishing's Avatar
 
Join Date: Jul 2008
Location: Pcola, FL
Posts: 103
Send a message via AIM to booyahfishing
Default RE: Could someone help me understand...

Another thing about Exxon making profits, they are able to change the prices of their products at such a quick rate, they are able to keep up with the changing material costs, as opposed to a place like McDonalds where the price of beef and everything else goes up, the price of a big mac doesn't change instantaneously.
booyahfishing is offline   Reply With Quote Quick reply to this message
Old 07-31-2008, 07:43 PM   #7
Senior Member
Blue Marlin
 
johnsonbeachbum's Avatar
 
Join Date: Oct 2007
Posts: 5,012
Default RE: Could someone help me understand...

Don't stop reading the news at the headlines...........

$11.7 billion for the second quarter, on $138 billion in sales.

Is 8.47% profit too much?
__________________
Saying what the others are afraid to say
Stir it up Trump

Get legal or get out.

Heavily fine or put in jail the ones hiring illegals.
Soon there would be way less illegals.

How do you know when Trump is doing something right????

When the D.C. status quo elite stuck in the mud out-of-touch pansies are crying foul at everything Trump is doing.
johnsonbeachbum is offline   Reply With Quote Quick reply to this message
Old 07-31-2008, 08:05 PM   #8
Senior Member
Mingo
 
bayou bandit's Avatar
 
Join Date: Oct 2007
Posts: 172
Default RE: Could someone help me understand...

Quote:
johnsonbeachbum (7/31/2008)Don't stop reading the news at the headlines...........

$11.7 billion for the second quarter, on $138 billion in sales.

Is 8.47% profit too much?
Very good reply. Also, something that should be taken into thought is the fact that for every dollar in profit that they earned, they paid 3 dollars in TAXES. Amazingly, this report today is lower than expected by Wall St. Exxon stock fell 5% today.
bayou bandit is offline   Reply With Quote Quick reply to this message
Reply


Quick Reply
Message:
Options

Register Now

In order to be able to post messages on the Pensacola Fishing Forum forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.
User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.
Password:
Confirm Password:
Email Address
Please enter a valid email address for yourself.
Email Address:
How Did You Find Us?
Tell us how you heard about Pensacola Fishing Forum.

Log-in



Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off




All times are GMT -4. The time now is 10:31 AM.


Powered by vBulletin® Version 3.8.8
Copyright ©2000 - 2019, vBulletin Solutions, Inc.
Search Engine Optimization by vBSEO 3.6.0 RC 2
vBulletin Security provided by vBSecurity v2.2.2 (Pro) - vBulletin Mods & Addons Copyright © 2019 DragonByte Technologies Ltd.