".Dear..EL-CHIMPO."

[NewHampshire Black Bears]

http://news.yahoo.com/a/ap/20080731/ap_on_...rns_exxon_mobil


Sorry fellow "coolers", can't get the link to work.

Anyway, it's about Exxon/Mobil reporting the LARGEST PROFIT .."EVER" made by a corperation...in UNITED STATES HISTORY.

I really had a HARD TIME digesting this, at the GAS PUMP today.

All I wanted to do,.....was to ask.."STUPID"../Dirty DICK,the Whole.."GD"..GOP, and Johnny Mac, if they would explain to a lowly US Citizen(ME),......WHY it is, that the Federal Government is ...........GIVING EXXON/MOBIL......"TAX BREAKS" ?????????????

 

[UAL_TECH]

http://news.yahoo.com/a/ap/20080731/ap_on_...rns_exxon_mobil


Sorry fellow "coolers", can't get the link to work.

Anyway, it's about Exxon/Mobil reporting the LARGEST PROFIT .."EVER" made by a corperation...in UNITED STATES HISTORY.

I really had a HARD TIME digesting this, at the GAS PUMP today.

All I wanted to do,.....was to ask.."STUPID"../Dirty DICK,the Whole.."GD"..GOP, and Johnny Mac, if they would explain to a lowly US Citizen(ME),......WHY it is, that the Federal Government is ...........GIVING EXXON/MOBIL......"TAX BREAKS" ?????????????

Linky-->> Exxon 2Q profit of $11.68 billion sets US record, but falls short of Wall Street expectations

B) xUT

 

[delldude]

Ahhh.....NHBB....nobody wants any more refineries in their backyards.....no nuke plants....can't drill anywhere where theres oil......

So you use more gas daily than they produce.......duh

 

[jimntx]

So you use more gas daily than they produce.......duh

Well, no we don't. Perhaps you missed the report from Reuters when I first posted it. It points out that the U.S. oil majors are currently exporting approx. 1.8 million/bbls/day of REFINED product--gas, jet fuel, heating oil, etc--to other countries.

Link to Reuters article

 

[Gilding the Lily]

.

 

[NewHampshire Black Bears]

Ahhh.....NHBB....nobody wants any more refineries in their backyards.....no nuke plants....can't drill anywhere where theres oil......

So you use more gas daily than they produce.......duh

......................................................................
.....................................................................

DELL,

With All due respect to you(My cyber buddy), I'm going to go with ...jimntx's evaluation of the issue at hand,.......given his long service, while at TEXACO.

sorry

 

[delldude]

Well, no we don't. Perhaps you missed the report from Reuters when I first posted it. It points out that the U.S. oil majors are currently exporting approx. 1.8 million/bbls/day of REFINED product--gas, jet fuel, heating oil, etc--to other countries.

Link to Reuters article

Isn't the first rule of any business to make a profit?

So they export and our lack of refinery capacity still bites us in the butt...??

Well we must all call Nancy Pelosi and tell her since the Dem's are in charge......how can this be?

 

[KCFlyer]

Ahhh.....NHBB....nobody wants any more refineries in their backyards

So you wouldn't have a problem if Exxon and BP decided to build a refinery in your neighborhood?

 

[delldude]

So you wouldn't have a problem if Exxon and BP decided to build a refinery in your neighborhood?

Then eat $5 a gallon and like it.

 

[Seatacus]

Anyway, it's about Exxon/Mobil reporting the LARGEST PROFIT .."EVER" made by a corperation...in UNITED STATES HISTORY.

I am sure there are a lot of union pension funds and regular Americans that have purchased shares in this company. Big profit should be a good thing.

 

[USAir757]

Many people have shared in these profits as shareholders, and that is a good thing. Of course, the OP would likely rather penalize a company because they make "too much money"... nevermind that he himself and everyone else here (directly or indirectly) supports these profits every day. Also, let's be sure to blame the president whenever possible for any and all woes that befall the country as a result of our own illegitimate dependancies.

The bottom line on this topic is that they sell a product that our country demands desperately. We purchase it at a premium so we can protect places like ANWR, and other vulnerable coastal areas. I read that the United States drove circa 41 BILLION less miles over the last half year due to rising costs of fuel.... and I, for one, think less pollution/less consumption/less dependancy is a GREAT thing!

 

[jimntx]

Isn't the first rule of any business to make a profit?

So they export and our lack of refinery capacity still bites us in the butt...??

Whoa, Nelly! Let's back up and go back around the block. Now, exactly what system of logic are you using which can handle two opposing views at the same time?

View #1: We have sufficient refining capacity to produce 1.8 million bbls/day of refined product (the great majority of it gasoline) that the company has to export from the U.S. in order to have a profitable market for it.

View #2: We lack refining capacity.

Before we build more refineries--which, by the way, the oil companies do NOT want to do--let's keep refined product in the U.S. and see how much of a shortage we still have.

Building a refinery requires enormous capital expenditure--and don't go whining about environmental restrictions, refineries have ALWAYS cost a lot of money to build. The oil companies do not want to spend that money, they just want to use the lack of new refineries as an excuse to jack up the price of refined product in this country. If the oil companies were concerned about refining capacity, they wouldn't have sold off and/or shut down the refineries they already owned.

 

[jimntx]

I am sure there are a lot of union pension funds and regular Americans that have purchased shares in this company. Big profit should be a good thing.

Yes, it "should." But, then after 5,000 years of fighting among those Semitic first cousins, there should be peace in the Middle East.

ExxonMobil dividend is currently $1.60 on a price of $80.35/shr (as of 30 seconds ago). According to Yahoo Finance, the current yield is 1.9%. (My bank gives about the same on passbook savings which are guaranteed by the FDIC.) Woo-Woo! That thar divident check from XOM just come in. At last, Maw can have that operayshun!

Real-time XOM quote courtesy of Yahoo Finance

 

[KCFlyer]

Then eat $5 a gallon and like it.

I take it that's a "no".

 

[NewHampshire Black Bears]

Ahhh.....NHBB....nobody wants any more refineries in their backyards.....no nuke plants....can't drill anywhere where theres oil......

So you use more gas daily than they produce.......duh

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

DELL,
To YOUR answer above, I say......................."How does those answers/statements apply to the Question at Hand,................Which IS,....................."WHY" are we giving EXXON/MOBIL..$$$"TAX BREAKS" ?

????????????????????????