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re: Oil/Gas ?????????
Posted on 5/12/09 at 2:15 pm to kfizzle85
Posted on 5/12/09 at 2:15 pm to kfizzle85
One of the massive myths is the assumption the US consumer provides XOM's profit... no one looks at the 131 segment reporting or other geographical breakdown.
And when fawning over the profits and greed, no one goes through and adds up governments (US and world) take... sales taxes, income tax, duties and excise... per the Income Statement it tends to be about 250% of ultimate net income available to common (but damn it they are greedy)
And when fawning over the profits and greed, no one goes through and adds up governments (US and world) take... sales taxes, income tax, duties and excise... per the Income Statement it tends to be about 250% of ultimate net income available to common (but damn it they are greedy)
2
Posted on 5/12/09 at 2:25 pm to igoringa
I just find it humorous that a cursory look at the f/s demonstrates the fundamental premise of that article to be flawed in every possible way. Not only does most of their profit NOT come from downstream operations, most of that doesn't even come from the US. The total amount of downstream, US Revenue is 352/4550=7.7% Was it higher than last year's Q1? 398/10890=3.6%. Yes it was. Bastards.
Posted on 5/12/09 at 2:26 pm to igoringa
quote:
One of the massive myths is the assumption the US consumer provides XOM's profit..
not to mention that XOM doesn't directly own the XOM gas stations that charge the retail prices we get so pissed off about...and that the gasoline that goes into your car has been through about 5 sets of hands from the ground to your car and everyone of those sets of hands puts a markup on it
from production company that sells crude to pipeline or vacuum truck company that sells to refinery that sells to distributor that sells to gas station that sells to you
Posted on 5/12/09 at 4:31 pm to Ringeaux
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