Exxon Shows Record Profits

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(July 31, 2008)

ExxonMobile reported a quarterly profit of 11 and a half billion dollars on Thursday.

That sets a record for most ever in US corporate history.

The news comes as most Americans are still struggling to fill their gas tanks due to high gas prices.

Exxon's Vice President for investor relations says the record profits "highlight the quality of our integrated business model and disciplined investment approach."

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Comments are posted from viewers like you and do not always reflect the views of this station.

Posted by: Non Exxon consumer Location: Centeral Texas on Aug 7, 2008 at 02:51 PM
So why keep buying Exxon just go to some other station.

Posted by: Mother of Three Location: Temple on Aug 7, 2008 at 12:58 PM
The record profits "highlight the quality of our integrated business model and disciplined investment approach." WHATEVER... it highlights your ability to screw the American people and get away with it. Fortunately I'm financially sound enough to not have to choose between gas and milk but I KNOW some people are faced with that dilemma. How can Exxon sleep at night?? They should be ashamed, but that would mean they cared and we all know they don't.

Posted by: LN Location: Robinson on Aug 7, 2008 at 12:55 PM
This article is such a one sided piece of crap. Totally designed to make "big oil" look bad. Exxon/Mobil makes about 10% on its money. Very much in line with normal business practices. Less than Microsoft. Less than other businesses. So, do we need to take over Microsoft for making too much money? Ya'll people who think the government needs to take over and "do something" should sit back and shut up. The "do something" that the government and the public is doing is blocking us from building refineries and drilling for oil. Yeah, they have 68 million acres to drill on now. But they can't because the greenies are filing lawsuits and doing every other trick they can think of to keep them from doing business. All the while YOUR fuel costs soar and you blame Bush because you are too lazy to do the research to find out what supply and demand mean.

Posted by: Lisa Location: Waco on Aug 7, 2008 at 10:26 AM
Part 6 The staffer , who takes your call, keeps a "tick sheet" regarding the subject you called about & whether you were for or against that particular subject & that is how they keep score for the Senator. Don't be shy. These people work for us and they are doing a lousy job and we need to tell them on a daily basis, plus it's interesting and it only takes a few minutes.

Posted by: Lisa Location: Waco on Aug 7, 2008 at 10:24 AM
Part 5 No matter what happens to the weather, it's a global warming issue if you want to believe the environmentalist. If it rains, snows, wind blows, storms, lightning, hot or cold, GLOBAL WARMING ! I urge you to call your U.S. Senators and your Representative in the House and voice your concerns if you agree. It's not going to get any better unless we put the pressure on Congress to do a better job for the citizens of the USA. Thanks for listening. Go to " www.senate.gov " & the United States Senate cover page will appear. In the upper right corner, there's a "find your Senators block". Use the down arrow to find your state & click on "GO". You will get a page with names, addresses & phone numbers of both your Senators. Give them a call. More than likely, you will get a "Staff Assistant" or "Senior Staff Assistant" who will listen to your complaints or suggestions & tell you they will pass them on to the Senator or the Senator's Chief of Staff at the weekly staff meeting.

Posted by: Lisa Location: Waco on Aug 7, 2008 at 10:19 AM
Part 4 This will be a huge hit to the economy as all the outside vendors for the auto makers will be laying off their employees as the trickle down effect is felt by smaller companies associated with the auto industry. Most of these problems caused by the high price of gasoline. He called the Washington offices of Senators Boxer & Feinstein to express his concerns over the current economic conditions. Of course, you never get to talk to the Senators but he did talk to a pair of so called "senior staffers". He went over the points outlined in these post & he left them speechless. They usually just stick to the Democratic talking points, but since he was armed with the facts, they just wanted to get off the phone & they kept saying they would pass his concerns on to the the Senators. He hit them hard about the Democratic Party being beholden to the environmental extremist who have taken the "global warming" issue to hysterical heights.

Posted by: Lisa Location: Waco on Aug 7, 2008 at 10:14 AM
Part 3 LANE BRYANT/CATHERINES 150 STORES, TALBOTS 100 STORES,GAP 85 STORES,FOOTLOCKER 140 STORES,BOMBAY 384 STORES,ZALES 82 STORES, HOME DEPOT 15 STORES, COMPUSA ALL STORES-GOING OUT OF BUSINESS, LEVITZ ALL STORES-GOING OUT OF BUSINESS, WICKES ALL STORES-GOING OUT OF BUSINESS,MACY'S 9 STORES,MOVIE GALLERY 160 STORES,PEP BOYS 33 STORES,ETHAN ALLEN 12 STORES,PACIFIC SUNWEAR 154 STORES,SHARPER IMAGE 90 STORES-FILED FOR BANKRUPTCY, KB TOYS 356 STORES,DILLARDS 6 STORES & THIS MORNING, STARBUCKS ANNOUNCED THEY ARE CLOSING 600 STORES. Thousands of employees will be laid off or have already been laid off, partially caused by the high price of gasoline. Automobile sales decreased 18.3% in June compared to last year, the worst June in 17 years. GM was down 18.2%, Ford was down 27.9%, Chrysler was down 35.9%. As a result, all three are closing manufacturing plants and laying off thousands of employees.

Posted by: Lisa Location: Waco on Aug 7, 2008 at 10:08 AM
The Democrats were not smart enought to see what the high price of gasoline would do to our economy. Today, the stock market officially became a BEAR MARKET because it has decreased 20% from its high late last year. The U.S. stock market has lost $2 trillion dollars in value since the first of the year. The decrease in the market has caused serious problems for all of us with 401K's, especially seniors who depend on their investments to supplement their retirement income. Most of these problems caused by the high price of gasoline.... The airlines are cutting back service to smaller cities, taking airplanes out of service and laying off employees by the thousands. Most of these problems caused by the high price of fuel. Retail stores, restaurants, etc. are closing by the dozens. People can't afford to spend money on clothing, etc because of their increased gasoline cost. Here is a partial list of announced closings..... ANN TAYLOR 117 STORES, EDDIE BAUER 29 STORES, CACHE 23 STORES

Posted by: Lisa Location: Waco on Aug 7, 2008 at 10:04 AM
Part 1 - A friend sent this to me from CA. We all need to contact our Senators & Chet Edwards about these issues on a regular basis. I've emailed & received responses but one person can't fight this alone, we ALL must do this. This will be several parts. The Democratic members of congress will sleep well tonight. They have accomplished their goals. They believe a declining economy will guarantee an Obama victory in November & they have certainly pushed the country in that direction with their position on oil/energy. Today, oil closed at $144 per barrel, up 45% since the first of the year. The price of gasoline per gallon is at records highs--$4.79 in CA. The Democrats say it a "supply & demand" problem, but they won't do anything about increasing supply by drilling for oil right here in the USA. Obama has said that he was happy to see the price of gasoline increase because it causes Americans to conserve fuel by driving less, etc.

Posted by: Just sayin is all Location: Ft Hood on Aug 7, 2008 at 08:18 AM
How about they "highlight the quality of MY integrated business model and disciplined investment approach", lower gas prices then KMA?

Posted by: Anna Location: Centex on Aug 7, 2008 at 07:10 AM
Gripe, gripe, gripe. The fact is they can charge what they want because Americans will pay it. Period. Gone are the days where the truckers would park to protest the high prices. Gone are the days that Americans would picket a company or march on Washington. We are lazy and selfish. So, everyone, shut up and pay it, you know you are going to anyway. With this bunch of citizens we would never have even fought for independence.

Posted by: dont care no more Location: cove on Aug 4, 2008 at 06:52 AM
No worries. With prices going up and the average pay staying the same, we will make the US a third world country lol. I've just been doing a lot more walking.

Posted by: Daniel Location: Ft.Worth on Aug 4, 2008 at 12:36 AM
I work for Exxon/Mobil and I get profit sharing incentives quarterly. I am really glad that we are able to overprice our oil and gas, because it really helps me afford my summer house, wife, family and mistress. All of you can complain all you want, but the fact is we KNOW you're gonna keep buying our products, whether you like it or not. If you don't, then you better be ready to walk or ride bikes, because after profits like this, we aren't about to accept anything less. We know that gas is the lifesblood of this nation, and if you want to play, you gotta pay. Besides, one day they'll sort out the energy crisis and all we want to do is line our pockets and squeeze as much out of the market before the bottom falls out. You guys can understand that, right? And with the proposed tax breaks that are nearly guaranteed by our allies in government, it's about to really get good for our company and stockholders. You can invest with us on the NASDAQ if you want to be a part of the team.

Posted by: Jeff Location: Lampasas on Aug 3, 2008 at 12:24 PM
Hey, capitalist, hey Dave, it's called price gouging and there getting away with it.

Posted by: ryan Location: texas on Aug 3, 2008 at 11:11 AM
what you people dont realize is that the oil company's profit margin is lower than almost any other business. the reason that they make so much is that everyone in the country is buying their product. where i live hay is aprox. $30.00 per roll. 1/4 of that is profit, and i just get by. if every one in the country bought 2 bales per month, i would make more than the oil companies. it is volume that makes them money.

Posted by: Bill Location: Waco on Aug 3, 2008 at 11:09 AM
ENOUGH!!! It's time that SOMEBODY DO SOMETHING!!! I have HAD IT with oil companies ripping us off!!! I am but ONE person... I am insignificant. But if someone in our judicial or legislature would have the gonads to do something about the OUTRAGEOUS prices they charge us at the pump and the "RECORD" profits they are raking in.... it would be called fraud, extortion or theft if it were just us common folks doing it....

Posted by: TEXASLEGAL on Aug 3, 2008 at 08:52 AM
All you people with 401k plans should check and see where your money is invested. You will probably find some of it invested in Exxon or Shell etc. Hey lets put heavy profit taxes on these companies so we can pay more at the pumps and also watch our retirement go down the tube.. Seems logical. Oh but wait we have Social Security to back us up. Nobama wants to take money from the oil companies and give each family $1000? How about he just gives back some of that 35billion they collected from Exxon this quarter? Where did this man study economics at? Marksism

Posted by: ME Location: HBMC on Aug 3, 2008 at 06:33 AM
YOUR GREAT CONGRESSMEN/SENATORS & THEIR HEDGE FUNDS ARE DOING THIS.....GET INVOLVED WITH VOTING!!!!!!

Posted by: Dave Location: Waco on Aug 2, 2008 at 08:19 AM
I've got a little stock in Exxon Helps offset fuel prices a little and it cost a lot less than a plasma TV I have lived in countries where gas was rare and you were lucky to get it and did not care what it cost. Be glad you can get it

Posted by: Jeff Location: Lampasas on Aug 1, 2008 at 08:03 PM
Capitalism, ain't it great?

Posted by: Capitalist Location: Waco on Aug 1, 2008 at 02:03 PM
Are you kidding me with these comments? Government control? Democracy doesn't work? Where are we? The old Soviet Union? Why are you demonizing free enterprise? The object of a business entity is to maximize shareholder value and Exxon Mobile is doing exactly that. Ask all of the tens of thousands of retirees who depend on their Exxon Mobile dividends for income if profit is a dirty word. This is a public company that is doing their job very well! Government policy created this energy mess and it's not going to fix it. Study basic economics people! This is a classic supply and demand situation, compounded by a very weak dollar. If you are looking for bad guys, blame Nancy Pelosi and our doing nothing Congress. Don't blame Exxon Mobile!

Posted by: killeen Location: killeen on Aug 1, 2008 at 01:01 PM
I think that this is such BS. The government needs to step in and take control of this situation. Its not only hurting the people by filling up their vehicle but also local businesses.

Posted by: Anonymous on Aug 1, 2008 at 12:39 PM
So don't buy EXXON gas or products I quit a long time ago. If veryone quit using them they would get the message there are plenty of other stations around.

Posted by: hadnuff on Aug 1, 2008 at 10:37 AM
What the MSM fails to include in their reports about record profit is that during the same time Exxon made 11B in profit they also paid 35B in taxes to the US government... I am not standing up for the oil companies, but they actually do provide a service, while what service does your government provide for their 35B??

Posted by: UKNOW Location: HERE on Aug 1, 2008 at 10:03 AM
WOMP WOMP WOMP .... It says: THEE WITH THE GOLD, MAKES ALL THE RULES! [EXXON} We hold all the cards - you get one, we get five - FAIR RIGHT ... Our government, our own lets this happen - to the people that are suppose to be protected ... Sometimes DEMOCRACY DOESNT WORK. SORRY USA!

Posted by: El Diablo Location: Hell on Aug 1, 2008 at 09:32 AM
Because like the old saying goes, the fox is guarding the hen house. Bush and all his cronies in the oil business are cashing in at our expense. He literally holds hands with the Saudi princes. Shame on him. Shame on us.

Posted by: Aly Location: Waco Area on Aug 1, 2008 at 08:26 AM
Anyone want to guess where I will NEVER buy gas? It probably won't matter, I suppose all the companies do it...except Valero (the largest refiner in the USA) posted a 67% drop in profit for last quarter. I have watched my local stations change prices overnight, sometimes as much as almost 20 cents a gallon, but are slow to reduce the price. Isn't that gouging?

Posted by: Denise Location: Killee on Aug 1, 2008 at 07:54 AM
SOMETHING NEEDS TO BE DONE! This is not right, the little people are being shafted and the corporations are lining their pockets. What's wrong with this picture?

Posted by: Gary Location: Waco on Aug 1, 2008 at 06:38 AM
I keep reading articles like this where big business is making record profits with obviously price-gouging, but NOBODY ever steps up to DO ANYTHING ABOUT IT! WHERE IS OUR LEADERS WHO HAVE SWORN, UNDER OATH, TO PROTECT "WE THE PEOPLE"? Answer: They're all part of the corruption!

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