exxon mobil

Discussion in 'Et Cetera, Et Cetera' started by lucky8, Feb 1, 2008.

  1. lucky8

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    any1 here that they reported a $3 billion profit for '07? WTF is up with that? supply and demand my ass
     
  2. dong20

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  3. steve_james_2

    steve_james_2 New Member

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  4. lucky8

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    damn...well i stand corrected if that is true
     
  5. Flashy

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    ummmm...rich AND poor alike can purchase Exxon Mobil stock...it is a publicly traded company. As for the "money lining the pockets of the rich" and investor can purchase shares, no matter how small or large, rich or poor.

    For the record...it is not all "rich people" profiting...nearly 49% of Exxon Mobil stock is OWNED by institutions, ranging from investment banks, to Fidelity funds and many well known other funds who manage hundreds of billions for people rich as well as more modest alike.

    The stock is owned by charities, foundations, huge state pension funds and countless other companies that benefit a variety of people.

    HOw many of "the poor" own automobiles? Public Transportation is available to the poor for a fraction of the cost that it takes to put gas in one's car.

    rich people and upper middle class people and middle class people and lower middle class people ALSO pay more for gas, and do so much more often and at much higher a price then "the poor", since those people are likely to be suburbanites, who commute to work via car...those people also may have two cars, for two earners in the family.

    Exxon Mobil is a publicly traded company, whose job is to earn money for its shareholders...it pays billions in taxes, it employs over 82,000 people worldwide.

    While I have no love for BIg OIl, spare me the whole "on the backs of the poor" nonsense.

    Most of the poor and working poor are not the main people suffering from higher gas prices.
     
  6. Pecker

    Pecker Retired Moderator
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    If oil was $40 per barrel in 1980, then compared to today's dollar value it should be about $100 per barrel.

    Here's a great place to compare the value of the dollar over time.
     
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