Saturday, February 17, 2007

A word of thanks.... Exxon Mobil for greatly reducing the price of gas before announcing their record 2006 profits which exceeded 2005's record busting profits by 9 percent!

In a brilliant stratagem, I beamed while filling my tank for a mere $1.88/gallon locally while Exxon and other oil companies undoubtedly were laughing their fat asses off.

Since Exxon's great profit report, the per gallon price of gas has risen 21 cents and the grumbling whenever I fill the tank has resumed.

Gee, no wonder Exxon refuses to invest in renewable technologies and has sold off its alternative energy holdings.


D.K. Raed said...

Hey, at least YOU got a little reduction for awhile. You know they don't even bother with that in UT. But I have a bigger problem with Exxon trying to explain that it's only higher prices that have led their record profits, trying to act like their expense percentage rises along with rising fuel acquisition costs. I don't think you need an accounting degree to know the diff between cost of goods sold and OH operating expenses. I've seen this question & snowjob response on a couple TV shows now & sure hope they're not fooling anyone. Not to get too detailed, OH or Fixed Expenses are just another name for "cover your nut". Once that nut is covered, all else below the Gross Profit line is profit. So for them to try & act like their Percentage of Profit is the same, it's just the higher acquisition costs & selling prices that have increased, is pure BS. Of course, if my pension money was invested in Exxon, I might not be pointing this out. ~~ D.K.

dada said...

thanks for pointing this out deke. And then, as we all know, we just happen to be in a kind of freaky *Industry-Bush* moment where oil prices have been high so all these obscene profits will evaporate as they are used for add'l exploration and costlier to retrieve oils, sinking oil prices and lean years and just as incredible obscene losses for big oil will occur.

(Just wait til Bush manages to get the Iranians to seal of the Persian Gulf and oil goes to $125/bbl! Can you say, "$$$$$$$$$$$$$$$$$$$$"?)