Posted on 04/27/2006 10:23:37 AM PDT by mnehring
Quarterly earnings aren't audited. Except under very unusual circumstances, audits take place annually.
Earnings on exploration, mining, drilling, refining. (The petroleum industry, like most other heavy industies, is much more complicated than most people think.)
If it's OK with you, I'll add a few keywords to your thread.
Someone sent me that article earlier today.
So much for our "man of the people" politicians, huh?
Bump!
Here's something interesting from:
http://phx.corporate-ir.net/phoenix.zhtml?c=115024&p=irol-newsArticle&t=Regular&id=828850&
"When it comes to delivering superior return on investments, Tillerson pointed out that ExxonMobil led the industry in 2005 with return on capital employed (ROCE) of 31 percent. "In our view, ROCE continues to be the best overall measure of financial performance given the long-term and capital-intensive nature of our industry. I would be cautious of anyone who tries to deemphasize it," said Tillerson."
You have to admit, 31% is really something for a mature commodity. No?
Even Microsoft doesn't get that.
The US trade policy after 9/11/01 has been a weak dollar because it helps imports which helps support a weak economy due to war issues.
When the fed decides to firm up the dollar, then we will see the drop in prices of oil and gold.
JMO, No2
Unfortunately, this will never be discussed...or properly represented on the evening news by the MSM. This will never be discussed in most college economics classes. This will never sink in to the thick skulls of the democrat voter blocs....even if it were properly explained. Therein lies the problem, and the stupid "Pubs" in Congress do not have the cajones to "Ram" this home.......even on Fox News.
There are some here on "FR" who cannot even grasp this basic concept.
The Russian/Caspian numbers seem way too small.
I didn't think about it, but if those are XOM's numbers alone, then they are probably right.
ooops should have been Exxon.
I don't have time to do this, but a younger relative said the earnings per share for the Compost/WPO and Gannett News, GCI are much larger % wise than Exxon's
I didn't see offshore broken out anywhere. Are you using "offshore" here to mean, "not on US soil" or "overseas" or "in foreign countries," something to that effect, rather than drilling and production that is done in the ocean or other deep water?
People often get alarmed by Exxon and other oil companies' profits, but I don't think that most realize that the huge profits are the result of huge volume. The world demands a lot of their product. If we could have energy policy that increases their supply to meet that demand, we might be able to see some lower gas prices here. Letting them tap into domestic sources or removing some barriers to expansion are good ways to start.
You are very correct, indicated by the actual profit margins of XOM's product in relation to other company's profit margins.
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