$77,000.00 per minute Pure Profit for Exxon last quarter

[Toots]

$77,000.00 PER MINUTE over $77,000.00 per minute actually and mostly from War Profiteering Shouldn't there be a law against such a thing? Are we a sick country or what. How many starving children are there in the world anyway? $77,000.00 PER MINUTE!!Per Minute for Christ's sake

[Octafish]

1. They deserve a tax break.

It costs money to make money to send to the Caymans and Switzerland.

[LSK]

2. they got a $14billion from the Govt

I think this week is the one year anniversery of the Energy Giveaway bill.

[whistle]

3. Let's add up all the profits per minute from all the BIG OIL Companies

....So far BP = $55,000.00 per minute; Exon = $77,000.00 per minute; list the others that any DUers know

[Toots]

4. Conoco Phillips over $35,000.00 per minute

Just last quarter :shrug:

[Yupster]

5. There are currently 6.05 billion shares

of Exxon stock in circulation. The closing price today was $ 66.47 per share.

So theoretically, if everyone sold their shares tomorrow they would get $ 402 billion for the company. That's the market capitalization number.

So this quarter they made $ 10 billion or 2.5 % on their investment. Is that good?

Yeah, if they did as well all four quarters that's a 10 % return. Not too shabby at all.

It comes out to $ 77,000 a minute.

But, theoretically what if everyone took their $ 402 billion and put it in a one year CD paying 5.5 % ?

Then the interest from the CD would make them about $ 45,000 a minute.

Would that be sick also? Disgusting? inhuman? Or is the limit $ 50,000 a minute?

If you invest in a stock you are expecting to make a whole lot better than cd rates. If you don't then why take the risk. Just buy a cd.

Anyway, I have no idea whether the oil companies are gouging or not or what a fair profit would be for them. My complaint is with taking a large number and declaring it obscene just because it's a large number without putting it in any context.