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View Full Version : Topspin! you SOB! Getting rich off our backs again!



Care4all
07-27-2006, 07:24 AM
:) ;) j/k u

NEW YORK (Reuters) - Exxon Mobil Corp. (NYSE:XOM - news), the world's largest public oil company, on Thursday reported quarterly profit surged 35 percent to top $10 billion, driven by yet another quarter of sharply higher oil prices.


In a surprise move, the company boosted also its capital spending program forecast to $20 billion this year, citing additional exploration and production opportunities.

The world's largest company by market capitalization also said it would ramp up its already hefty stock buyback program to $7 billion in the third quarter.

Helped also by 6 percent growth in oil and gas production and better refining margins, the company's earnings easily beat Wall Street expectations, but revenues fell short of forecasts.

Net income in the second quarter was $10.36 billion, or $1.72 a share, compared to $7.64 billion, or $1.20 a share, in the year earlier quarter.

Analysts on average expected a profit of $1.64 a share, according to Reuters Estimates.

Revenue jumped 12 percent to $99.03 billion, from $88.57 billion a year earlier. That was below analysts' average forecast of $104.26 billion, according to Reuters Estimates.

Exxon, like its peers, is enjoying another in a string of bumper quarters as crude oil prices hover at historically high levels. Oil prices hit a record high of $78.40 a barrel about two weeks ago, driven by anxiety over supplies from the Middle East.

The company's latest results are sure to reignite calls for windfall profit taxes on Big Oil companies, who have come under attack over the past year for posting record profits as consumers struggle with soaring gasoline prices.

Damocles
07-27-2006, 07:26 AM
I'm wondering when the idea of a windfall tax is going to start becoming more popular....

I would be against it in principle, but I am sure that I would be in the minority when it really starts hitting...

Immanuel
07-27-2006, 07:32 AM
Get Topspin laidoff. Boycott Oil. :)

Immie

Hehe, if I could only convince everyone to do that. Traffic would not be so bad for me.

Damocles
07-27-2006, 07:43 AM
Get Topspin laidoff. Boycott Oil. :)

Immie

Hehe, if I could only convince everyone to do that. Traffic would not be so bad for me.

I just ride the Ducati as much as possible when the prices go up like this...

DigitalDave
07-27-2006, 08:23 AM
I just ride the Ducati as much as possible when the prices go up like this...

I drive slower on the highways. I put Cruise on and set it at 60....

Topspin
07-28-2006, 11:39 AM
I'm the most hated guy on the board and I just joined today. Even toby and dixie don't get this outrage. I think SR banned me from fullp after exxon release as I can't log in. LOL

Immanuel
07-28-2006, 12:18 PM
I'm the most hated guy on the board and I just joined today. Even toby and dixie don't get this outrage. I think SR banned me from fullp after exxon release as I can't log in. LOL

Good you deserve it. I want lower gas prices doggone it! :p

Immie

Topspin
07-28-2006, 12:30 PM
They always go back down, heck the next bust is prob right around the corner. Hope I get into a better investment before the crash.

toby
07-28-2006, 12:31 PM
The evil Exxon, making a profit by suppling Americans what they want! HOW DARE THEY???

toby
07-28-2006, 12:32 PM
Better they should lose money and lay off workers like General Motors!

Care4all
07-28-2006, 12:34 PM
welcome topspin!!!

but i'm sure you were not banned by SR, there could be some mix up? u2u him....

care

Topspin
07-28-2006, 12:39 PM
his site was down, desh posted she couldn't get on either. Whew

toby
07-28-2006, 12:39 PM
Care if you are banned you can't log on and therefor you can't u2u.

toby
07-28-2006, 12:40 PM
Just fyi

Immanuel
07-28-2006, 12:40 PM
They always go back down, heck the next bust is prob right around the corner. Hope I get into a better investment before the crash.

You've said that before and I say BS. Yes, they dip a bit, but not near as fast as they go up and never as far down as they went up in the last rocket blast and they always come back up quickly. :)

Immie

Topspin
07-28-2006, 12:45 PM
to you long term is 6 months
I've been in the business 24 years and have seen thousands laid off in the 80's and 90's. I'd be shocked if that doesn't happen in the next decade. Next 6 months? No, China will keep oil high for at least 18months

Immanuel
07-28-2006, 12:49 PM
to you long term is 6 months
I've been in the business 24 years and have seen thousands laid off in the 80's and 90's. I'd be shocked if that doesn't happen in the next decade. Next 6 months? No, China will keep oil high for at least 18months

18 Months!

It's time for a revolution... or alternative energy. ;)

Immie

Immanuel
07-28-2006, 12:50 PM
or both?

Immie

Topspin
07-28-2006, 01:00 PM
Agreed, I bought ENER the inventor of the hybrid battery, and they have a good inovative solar panel business. Actually if oil goes down too soon it will kill alt energy

Immanuel
07-28-2006, 01:38 PM
Agreed, I bought ENER the inventor of the hybrid battery, and they have a good inovative solar panel business. Actually if oil goes down too soon it will kill alt energy

I think I can understand some reasons why this would happen but would you elaborate on this a little bit please?

Immie

Topspin
07-28-2006, 01:47 PM
Because right now all forms of alt energy are only about 1% of the total. And they are a bunch of start up companies that have capital but not a lot of earnings yet as the technologies are all developing. If crude goes way down and takes gasoline with it then there goes peoples incentives to by biodiesel, hybrids, solar panels for their roofs and a bunch of the companies will go belly up. It happened with electric cars and solar about 10 years ago though I must admit to not indepth knowledge of the alternates back then.

Immanuel
07-28-2006, 01:53 PM
Because right now all forms of alt energy are only about 1% of the total. And they are a bunch of start up companies that have capital but not a lot of earnings yet as the technologies are all developing. If crude goes way down and takes gasoline with it then there goes peoples incentives to by biodiesel, hybrids, solar panels for their roofs and a bunch of the companies will go belly up. It happened with electric cars and solar about 10 years ago though I must admit to not indepth knowledge of the alternates back then.

Okay, I see your point but I was thinking of eliminating gasoline all together. :p

One more thing you did not mention: even with the capital alt energy providers simply are not geared up for such an event.

Immie

Topspin
07-28-2006, 01:57 PM
gas will not be eliminated in my lifetime, but I'm old at 46. Maybe in yours.
Not sure what your point is on alt engery not geared up. They are fledgling little companies like baby birds trying to leave the nest.

Immanuel
07-28-2006, 02:54 PM
Topspin,

I'm only joking. Also, I'm only somewhere around a year younger than you.

My point was that they are not ready and not capable of taking the demand that would be required if we lost gasoline as a source.

Immie

klaatu
07-28-2006, 03:12 PM
This is one area where the Government needs to step in.. investing in the infrastructure that will create the convenience for the General Public to switch to alternative forms of energy. You can call it an R&D investment. Raise tax credits ..and other forms of incentives. It worked in the 80's when Companies were offered enterprise zone tax credits to get into the Hi Tech arena, that helped to shape what we know as the Industrial Park Complex.

Topspin
07-28-2006, 03:14 PM
totally agreed, I think we need that and much more.

I'm Watermark
11-28-2017, 04:18 PM
Bump