Exxon Mobil reported another record quarterly profit, over 11 billion dollars.

We need to do more bike riding!

I just saw it on BBC News. How these oil companies claim they need to have high gas prices because of demand, then have their biggest profits in history and get away with gouging customers is beyond my understanding. Shoot, I mean, I have to pay for my heating with the gas I get, and they just raised our rates here! Why raise the rates if they've got billions to spare, other than to line their own pockets?

Koffee

$11B QUARTERLY PROFIT?!? I shoulda bought XOM. Then I coulda cashed in and bought a new bike. How much of that does GW Bush and his cronies get for helping to line their pockets?

I would say at least a billion.

I plan to never stop riding my bike.

Koffee

They dont get anything, but a nice, warm, fuzzy feeling in their hearts. But hey that is not so easy for them to come by.

Outstanding as of March 31, 2005
6,365,734,547
$62.86 (Price per share today)
296,410,404 (People in the US)
21 (Amount of shares, if all outstanding shares where divided by every person in the US)
$1340 (Amount each US person would own.)

Check out my sig link for a funny XOM movie.

XOM didn't create this situation, but, they sure are benefiting from it. Of course, that's their job.

That's just what I did last year, I sold 100 shares of XOM and one of the things I bought with the profits was a nice new LeMond Zurich. Thank you Exxon.

Supply and demand it is. If you don't demand it, then the cost of the supply isn't terribly relevant. They distribute the supply and a wrold market demands about 105% of it. If China goes back to the stone age then the oil prices will fall <$30bbl. But then we'll have our bikes handmade in western countries again for triple the price. Pick your poison.

think profit margin, not profit. also, their stock isnt spectacular by any means

Whatever happened to anti-trust law enforcement? Doesn't anyone remember why we have anti-trust laws? Anyone remember John D. Rockefeller? Exxon and Mobil are products of the Standard Oil breakup. And now they've gotten back together and nobody seems to care.