How can one find company profit margins? I'd like to verify that Exxon made $10b

[1970440RT]

     JMAN, they must raise the price on existing stock to pay for the price increase on the incoming fuel.  This works the same for other products also, not just fuel.  The bottom line is we all must adjust our budgets to deal with the prices because they are here to stay.  Even if we build refineries and drill in Anwar and off the left coast, it will still be a long time before the increase in supplies are realized and prices drop.  We should have done something about this ten years ago. 

[inhrmswy]

Im currently reading some old magazines from 1942 through 1947 and the articles really strike me as to how hard things were during times of hardship.   lots of articles about how to do more with less.   how to create something from nothing.    basically saying that everyone needed to tighten their belts and suck it up.   the amazing thing was, that people actually did it.   they abandoned their old consumer based ways and addopted a new way of thinking and living because it was a necessicity.   Same principle could be applied here with the cost of oil.    If you dont like it, change your lifestyle, get a job closer to where you live and ride a bike or walk.   Granted, you might not make as much money, but guess what, you wont be dumping as much money into the gas tank.    If enough people would just say "enough is enough" and change their daily routines, carpool if necessary, live closer in to work and shopping etc, we could effect change.      I know some of the nay-sayers are going to chime in with comments about housing costs close in and other such ideas...the simple answer is that if enough of society will stick to it we can drive down the prices on everything by simply refusing to pay it.   When a housing devloper suddenly cant sell his new homes for 300,000 because literally no one will buy it, what do you think is going to happen?    Is he going to let it sit vancant?   no.   is he going to tear it down?    no.   Is he going to lower the price to one that is acceptable,   eventually, yes, he will.    Same principle goes for plasma screen tv's, new cars, any consumer product.    The old saying "the customer is always right"   is there for a reason.   because its true.   Without the consumer the producers have no room to stand on.   We the consumer have all the power in the world we just have to exert it.    we also have to be unified in what change and policy we want effected.    want to make a point about gas prices dont go to work for a week.   When asked why you didnt go, you simply tell them that you cant afford the gas to get there on the salary they are paying you...this will probably get you fired but a huge percentage of people have been fired and no one can pay other bills.   people are being evected from their homes due to missed mortgage payments.   The government will start to have a serious problem on their hands and they will step in if things were to get to the extreme I just mentioned.   In summary, if corporations can monopolize a market and control prices....so should we be able to.   We just have to be as dedicated to the cause as our competition is.
here ends my rant and its just my $20.00's worth...(inflation is a bitch)
Inhrmswy

[jmanscharger]

Sorry vain , I was ranting a bit.
You know free markets work on supply and demand. BUT If you are able to obtain a monopoly in a market and control the supply you can control the market, control price, and when trouble happens you can make a fortune off that control of supply.

If I have full tanks of $1 gas I can still sell it for $1.10   not lose money.   If I sell it $3 most people don't see that as paying for the next load, that is a windfall profit. The next load pays for itself when sold. Isn't Price gouging charging the maximum people will pay, usually in a time of crisis?

Oil supplies are kept tight to keep the profit margin up, until demand drops or supply increases we will not see a price drop. After labor day demand usually goes down, at lunch I noticed Gas has gone down .40 a gallon here to 2.72.

[Troy]

Sorry vain , I was ranting a bit.
You know free markets work on supply and demand. BUT If you are able to obtain a monopoly in a market and control the supply you can control the market, control price, and when trouble happens you can make a fortune off that control of supply.

If I have full tanks of $1 gas I can still sell it for $1.10  not lose money.  If I sell it $3 most people don't see that as paying for the next load, that is a windfall profit. The next load pays for itself when sold. Isn't Price gouging charging the maximum people will pay, usually in a time of crisis?

Oil supplies are kept tight to keep the profit margin up, until demand drops or supply increases we will not see a price drop. After labor day demand usually goes down, at lunch I noticed Gas has gone down .40 a gallon here to 2.72.

Who has a monopoly??? Last time I checked there were many countries exporting oil - including our own and not all are members of OPEC either. There are many oil exploring/drilling/refining/transporting companies as well. Very simply, we (almost everyone in the world) are consuming more than we can make. That means the supply is limited so the price always goes up. Every single company/nation selling oil or its products has raised prices but that still doesn't make any of them a monopoly. As for the price of gas in the tanks - I really don't have the time or the energy to explain billing and accounting for future purchases but maybe someone else will. I do find it rediculous that gas always goes up on the weekends, holidays, and in the summer but, in some small way, that could be attributed to increased demand. I don't think the demand is always as high as some of the prices though.

Troy

[73dodge]

One thing that drives the prices up for us guys here in Ohio is that they have to change blends of gasoline when winter arrives. Why? You ask. It's because the enviro wacckos in the EPA make the oil refineries blend 40 different formulas of gasoline for different parts of the country. So the oil refineries have to have a special blend of gasoline just for the midwest states. and guess what! it costs more because the oil companies have to stop production of the summer blend and switch over to the winter blends and ship us in Ohio our special version of gasoline. So that drives the price up for us guys here in ohio for several months because of that.

That's what you get when you let the government loose and let them regulate everything. That was a CLINTON era rule thank you very much.

[Orange_Crush]

One thing that drives the prices up for us guys here in Ohio is that they have to change blends of gasoline when winter arrives. Why? You ask. It's because the enviro wacckos in the EPA make the oil refineries blend 40 different formulas of gasoline for different parts of the country. So the oil refineries have to have a special blend of gasoline just for the midwest states. and guess what! it costs more because the oil companies have to stop production of the summer blend and switch over to the winter blends and ship us in Ohio our special version of gasoline. So that drives the price up for us guys here in ohio for several months because of that.

That's what you get when you let the government loose and let them regulate everything. That was a CLINTON era rule thank you very much.

We're not talking about costs...we're talking about profits. 

You may not like the enviro-wackos...you may even hate them...but they're here to stay.  They performa a necessary function in keeping us from completely raping the planet.  You need extremists on both sides in order to keep a balkance in the center.

NOW...as far as profits are concerned.  Like it or hate it, there are still several different massive conglomerates competing in the oil industry.  As long as there is competition, there is a free market.

The broblem has several different aspects.

1.  Gas is gas no matter where you buy it. 

2.  We need gas.

3.  Companies that sell gas know this so its easy to keep your prices high because, high or low, you're still gonna have to buy gas.

The free market lends itself to abuses in this type of situation.

What can we do about it?

Well, you can walk bike,or take public transportation as much as possible.  Hell, for that matter, buy a scooter or moped.  Keep your tires properly inflated, buy natural fibre clothing instead of synthetics and do this with your furnishings as well.  If we all do a little bit, it adds up to a whole hell of a lot.  A small change in lifestyle will pay off big dividends in you pocket.

[jmanscharger]

Sorry Troy If production is limited and prices fixed for maximum profit I call it a monopoly, conspiracy sounds worse, maybe price fixing is the word? OPEC sets the price per barrel and other international and our domestic oil follows the same price fixing. Free market concepts would drive the prices down, opec and our own domestic companies respond by limiting production ramping prices up. Our only chance for lower prices is dramatically lower demand, but a production cut would follow, always keeping prices high. Just a few years ago some opec members refused to follow production cuts and we had cheap oil. Probably not going to happen with worldwide demand for oil going up.

[Troy]

I suppose you have evidence of this conspiracy? OPEC only controls 42% of the world's oil supply and I know of more instances where their lead has not been followed than when it has. They are no longer as powerful as they once were but it is true that they broke their own production/price rules recently. They actually decided to let the market set the price instead of themselves (look it up). It's a moot point any way because it doesn't matter if they pumped out every drop of oil possible since we don't have enough refineries to do anything with it (kinda like opening the Stategic Oil Reserves). It costs money to store this stuff once you pump it out so keeping tight control on the supply chain is important to profits as well. That means keeping the flow moving at all times without having product sitting on the shelves (tanks) yet also making sure there's enough to satisfy demand.

I'll say it again, there is no guarantee or right to cheap gasoline/oil. Just because we've enjoyed it for so long doesn't mean it has to stay that way and the fact that we abuse it so badly is one of the reasons we're in this mess now. Blame it on whatever makes you feel good.

Troy

[NHCharger]

so I can argue economics with a kid who considers waving his johnson at every skirt an act of nobility.

   

LMFAO. Now that's funny.

[Rocky]

Go study some economics.  
Obviously.

Go take a business ethics class.

[bull]

I have no problem with the oil companies making money, however it is windfall profits by monopolies that make me angry and lead to bad ideas like socialism and price controls- let's just take the oil companies from the monoplies and the government can run them(disaster). Our large corporations forget history when markets are free, they correct themselves on supply and demand. But when you have a monopoly on a product everyone wants and you control the supply you can manipulate and take windfall profits. The only reason not to take windfall profits is either care for your customer or fear you will create a backlash that will do damage. The free market would correct itself, but this is not a free market it is manipulated by too many factors. I always hate it when gas stations raise prices- unless the truck is delivering new fuel they didn't pay more for what they already had on hand, someone help me on this.
Money is not the root of evil, the love of money is the root of evil.

After six years of economics, I have no idea what that meant.

Six years? As thick as your melon is you must be about a sophomore by now.