PromoTheRobot Posted January 30, 2009 Posted January 30, 2009 Even with gas under $2/gal! WTF, man. PTR
stuckincincy Posted January 30, 2009 Posted January 30, 2009 Even with gas under $2/gal! WTF, man. PTR Uh..a well-run company that employees thousands and thousands at good wage worldwide?
loyal2dagame Posted January 30, 2009 Posted January 30, 2009 Even with gas under $2/gal! WTF, man. PTR dont forget, gas was double that during the summer.......... so when you average it out, it was just a little better for them than last year
eSJayDee Posted January 30, 2009 Posted January 30, 2009 I don't know where they derive most of their income (I should, I'm a stockholder), but I suspect it's substantially due to refining. The have a very small share of the world crude mkt (I'd guess maybe 5%) but I suspect have a substantial mkt share of US refining. More important than high oil prices is the (what I assume to be) historically high crack spread. Unleaded & Heating Oil are WAY higher in relation to Crude than what they typically are.
The Senator Posted January 30, 2009 Posted January 30, 2009 Even with gas under $2/gal! WTF, man. PTR Not surprising at all, really. IIRC, gas was near or over 4 bucks a gallon most of the year - artificially high, and at least one of the leading causes of the current financial meltdown, IMHO.
The Senator Posted January 30, 2009 Posted January 30, 2009 First, what does Wall Street have to do with this topic? Second, since you are an expert on the subject, can you explain who exactly got wealthy with this outrageous $45B profit? Do you actually understand where that money comes from and goes? Lee Raymond did pretty well. I imagine Tillerson's not clipping any coupons either.
VABills Posted January 30, 2009 Posted January 30, 2009 First, what does Wall Street have to do with this topic? Second, since you are an expert on the subject, can you explain who exactly got wealthy with this outrageous $45B profit? Do you actually understand where that money comes from and goes? They don't understand. I know I get some in my IRA, 401k and my mutual funds.
Marv's Neighbor Posted January 30, 2009 Posted January 30, 2009 They're on track to pay an equivalent amount in taxes. 48%, up from 45%. They've paid $11.3B for the quarter and $31.2B thru 3 quarters. If we could only encourage other companies to do as well we wouldn't be in the BAIL OUT mode.
KD in CA Posted January 30, 2009 Posted January 30, 2009 They're on track to pay an equivalent amount in taxes. 48%, up from 45%. They've paid $11.3B for the quarter and $31.2B thru 3 quarters. If we could only encourage other companies to do as well we wouldn't be in the BAIL OUT mode. Oh no, don't you know the best way out of a recession is to punish evil companies for earning too much money while people play the "woe is me" card? They don't understand. I know I get some in my IRA, 401k and my mutual funds. No, they don't. Lack of understanding + Really big numbers = Outrage over "Big Oil". This is the largest company in the world so it's pretty natural that they also make the most money. Their profit margin is only about 10%. The $45B equates to about $8.69 per share, the vast majority of which goes to ordinary Americans who are invested in the Company -- and that includes probably every person on this board who owns a mutual fund.
EZC-Boston Posted January 30, 2009 Posted January 30, 2009 Congrats to a well run company and thanks for being a bright light in my 401k.
Kingfish Posted January 30, 2009 Posted January 30, 2009 Good for them. Now they can finally get off the corporate welfare dole!
BuffaloBill Posted January 30, 2009 Posted January 30, 2009 I don't know where they derive most of their income (I should, I'm a stockholder), but I suspect it's substantially due to refining. The have a very small share of the world crude mkt (I'd guess maybe 5%) but I suspect have a substantial mkt share of US refining. More important than high oil prices is the (what I assume to be) historically high crack spread. Unleaded & Heating Oil are WAY higher in relation to Crude than what they typically are. Actually refining is not high margin and retail sales of gas is even lower - most mopney comes from finding it, drawing it out of the ground and selling it as crude.
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