Thread: Exxon Mobiles profits

Originally Posted by crazybird

I just figured with tax incentives and such big profits they would re-invest in the company to keep prices affordable instead of taking the money and running with it.

Well, the corporations are beholden to the stockholders. That being said... finding and producing more oil is becoming increasing expensive and the costs are passed on to you. It's easy to eat bread when you have a loaf but a lot tougher when you spend your time looking for the crumbs. They do invest an enormous amount of money on discovery... I wound not invest in a company with depleting reserves.

the word is only 30% of these profits were made off of the USA. So use this as a sort of model and look at what a bunch of gas hawgs we all are

When did the $2 profit per barrel of crude oil get removed? Wasnt it not long after Bush entered the White House?