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Exxon Mobil Post BILLIONS in Profits

Posted on | November 3, 2005 |

 am not a economy or business whiz; I understand when something is expenisve and the demand is great, there is going to a be a pretty good size profit. But what I don’t understand is the why Exxon- Mobile made billions of dollars in profit for this past quarter, especially if a barrel of crude oil is between $65.00-73.00.

I was under the assumption that the supply of oil was not great and that is why I paid a pretty penny at the gas pumps. And then when Hurricanes Katrina and Rita hit some major refineries, there wasn’t enough refineries to turn crude oil into gasoline. I understood that, it makes sense.

So, if one of the largest oil producers in the world is making billions of dollars in profit, why did I have to pay over $3.00 a gallon? I know in the other places of the USA, the price was much higher. Was it because of greed, taking an oppurtunity of low supply and turning profit by over-inflating the price they set for gas?

Is there really a low supply of crude oil? Here’s some conspiracy theory- the oil execs are rich beyond belief and powerful. Probably more powerful then most world leaders. Couldn’t the oil companies buy oil and not tell anyone, so they have a private reserve. I mean a few million here and few million there; OPEC could be in anyone’s pocket. I just think that is odd. I would have thought Exxon-Mobile wouldn’t have made very much money this past quarter.

How much do we as the American public know what it is going with crude oil and the big oil companies. We don’t. Look at the corrupt CEOs and other larger corporations in recent years, they did illegal things and weren’t caught for awhile. But oil makes the world go round and the oil companies run the world. That is a fact.

If I had the money, I would buy as much stock as I could in Exxon-Mobile with profits like that,it is a sure thing. I would get rich then buy a hydrogen or bio-diesel vehicle and sell my shares. So this way I am sitting pretty when the company is taken down.

Hey why not, I pay for them to have private jets and Bentley’s, I just want my fair share. Call it a refund.

Have a nice day!

Category: news thoughts

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