Posted on 05/03/2016 7:34:31 AM PDT by Lorianne
Edited on 05/03/2016 8:17:40 AM PDT by Sidebar Moderator. [history]
DALLAS (AP) -- Exxon Mobil produced its weakest quarter in more than 16 years as lower oil prices pushed its profit down by 63 percent.
Revenue tumbled 28 percent, and the oil giant lost money in its vaunted exploration and production business despite a 2 percent increase in production. It made more money, however, in chemicals.
(Excerpt) Read more at hosted.ap.org ...
Over the past two months, I saw gas jump 50 cents a gallon and still rising. Exxon should be happy with their theft
I love how it goes down a penny here, a penny there, but goes of in 10 cent increments because “something happened” in the middle east or refinery change overs or whatever
...and the libs celebrate.
To be honest, I love gasoline being under $2/gl since I remember the recession prices of almost $4/gl. The lower gas prices are a big boost to the economy.
Whenever libs complain about “greedy” oil companies, I always say “Name for me other businesses where the rates eventually go back down?”
Does your doctor reduce his prices? Does your pharmacy? Does your credit card company? No, once they raise them it stays that higher rate until the next time they raise them. Only the oil companies seem to have fluctuating prices indicative of a true open market.
Awwww
That’s TEWWIBBLE
Pooh Pooh Exxon losing money
After 40 years of shaking down America in collusion with OPEC, we’re all supposed to feel bad?
So even in the worst of times, the corporation is still profitable. Sounds like it’s still a pretty safe bet, especially compared to the feast or famine of IT, airlines and manufacturing in general.
Yep gas prices are about to jump past 2.00 a gallon here again and you know how fast they can jump. I’ve seen a .30 increase in one day.
$2.05 already in New Jersey and we have the cheapest gas on the east coast
I saw it jump 10 cents from Sunday to Monday, but I have never ever seen in fall 10 cents when the oil market crashes
1.81 Billion profit.
How will they survive?
.
With these replies I had to check to see if I was on FR.......
The Trump effect.
Being rational does not play well with some.
Groceries fluctuate too
Ditto that. The numbers vary depending on where you look, but the average oil company makes a profit of around 6% on every gallon of gas sold. I'll bet the average dollar store does better.
Yet the oil companies are greedy and evil for delivering a high quality product, and with a low profit margin. Oh...my.
You sound like a liberal. What are you doing here?
Complete idiocy, they sound like full-on leftists with no clue how markets work.
I’m hoping for a larger dip in Exxon’s price so I can add to my holdings.
Theft? Really? Well, feel free to show us all, including Exxon, how it is done. Do your exploration, produce the oil and refine it, sell the gasoline for under a buck. You’ll be a rich man and a hero.
A lib in ‘conservative’ clothing.
Gold
Silver
Copper
Soy Beans
Wheat
Corn
Hog Bellies
Plywood
It is theft for how the market gets played
Oil down, six months to adjust
Oil up, gas jumps at 10 increments overnight
That is theft
How is one side, that benefits consumers, take so long to adjust, but the other side that benefits oil companies and share holders, adjust overnight?
Just calling it how I see it
Because I don’t like getting screwed at the pump?
They do all this heavy lifting with government and environmentalists sitting on their shoulders calling them every name in the book. Meanwhile, ungrateful economic illiterates here join the chorus while willingly paying more for bottled water than a gallon of gasoline. Pathetic.
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