Exxon Mobil posts $40.6 billion annual profit, breaks record for largest annual profit by a U.S. company Options

[dauss]

http://www.msnbc.msn.com/id/22949325/

HOUSTON - Exxon Mobil Corp. on Friday posted the largest annual profit by a U.S. company — $40.6 billion — as the world's largest publicly traded oil company benefited from historic crude prices at year's end.

Exxon also set a U.S. record for the biggest quarterly profit, posting net income of $11.7 billion for the final three months of 2007, besting its own mark of $10.71 billion in the fourth quarter of 2005.

The previous record for annual profit was $39.5 billion, which Exxon Mobil reported for 2006.

The eye-popping results weren't a surprise given record prices for a barrel of oil at the end of 2007. For much of the fourth quarter, they hovered around $90 a barrel, more than 50 percent higher than a year ago.

Crude prices reached an all-time trading high of $100.09 on Jan. 3 but have fallen about 10 percent since.

The record profit for the October-December period amounted to $2.13 a share versus $1.76 a share in 2006. Year-ago net income was $10.25 billion.

Also extraordinary was Exxon Mobil's revenue, which rose 30 percent in the fourth quarter to $116.6 billion from $90 billion a year ago.

For the year, sales rose to $404.5 billion — the most ever for the Irving, Texas-based company — from the $377.64 billion it posted in 2006.

In a statement, Exxon Mobil Chairman Rex Tillerson said the company continued to meet the world's energy needs through its "globally diverse resource base."

"Our long-term investment program, in projects often far from major consuming nations, continued to provide resources essential to the increasingly interdependent global energy supply network," Tillerson said.

Exxon Mobil produces about 3 percent of the world's oil.

[Spectatrix]

While the rest of the economy goes down... oil keeps going up.

Oh well, at least it means my boyfriend's dad has job security.

[impala454]

I guess dauss has no thoughts about it

I wish I would have thought of this "oil" stuff

[theIncredibleEdi...]

I need to leave Citgo and go to Exxon!!

[Hartmann]

And some news from the Canadian front... When Saskatchewan is adequately surveyed (sometime soon), they will overtake Saudi Arabia as the home of the largest known crude reserves.

If anyone needs a job, one of our clients is hiring and electricians start at $100k / year. Of course you have to live in Alberta.

[theIncredibleEdi...]

And some news from the Canadian front... When Saskatchewan is adequately surveyed (sometime soon), they will overtake Saudi Arabia as the home of the largest known crude reserves.

If anyone needs a job, one of our clients is hiring and electricians start at $100k / year. Of course you have to live in Alberta.

ANy other positions open? LOL

[Dogmeat]

I still think it's funny how negativley the press portrays Exxon.

When was the last time you read this article about Saudi Aramco?

The entire fucking point of the Exxon - Mobil merger in the 90's was to be able to compete with Saudi Aramco.

[Billy]

Woot!

[Testm0nkey]

my dad works for shell they had some sort of record profit in his division last year so they fired all the little old ladies that worked there as temps and mail people and super streamlined the office building! lollllllllls nordes. that almost made him quit

[moebary]

And some news from the Canadian front... When Saskatchewan is adequately surveyed (sometime soon), they will overtake Saudi Arabia as the home of the largest known crude reserves.

If anyone needs a job, one of our clients is hiring and electricians start at $100k / year. Of course you have to live in Alberta.

if I was an electrician I'd do it. I lived in Alberta for ~4 years, maybe a little more and I liked it up there.

[Dogmeat]

Personally I hope gas hits $10 a gallon as soon as the next president gets into office, because the next president will be a democrat, and then they'll flail about blaming "big oil", it won't do any good whatsoever, and then the public will hate them and we can get somone who has an energy policy back in office.

[Spectatrix]

If the next president supports the hydrogen or ethanol "economies", I'm gonna scream. They're both unfeasible. AND ETHANOL GETS CRAPPY MILEAGE.

Tired of my fucking gas being diluted by that crap just so it's 20 cents per gallon cheaper. Need to get myself some damn acetone...

This post has been edited by Spectatrix: Feb 2 2008, 11:01 AM

[Dogmeat]

If the next president supports the hydrogen or ethanol "economies", I'm gonna scream. They're both unfeasible. AND ETHANOL GETS CRAPPY MILEAGE.

Tired of my fucking gas being diluted by that crap just so it's 20 cents per gallon cheaper. Need to get myself some damn acetone...

You have no idea how much I hate ethanol. I have to drive around from gas station to gas station usually trying to find one that doesn't have the "This fuel contains %10 ethanol" sticker on it so I can actually fuel up my snowmobile.

The oxygenated blend fuel is HORRIBLE on high-compression motors.

I'm seriously thinking about just saying fuck pump gas and shaving even more off the head and bumping my compression ratio to like 14:1 and just running 110 octane race gas at $5.00 a gallon all the time.

heh

At least then I won't have to worry about quality of fuel ...

[Hartmann]

Yeah the ethanol blended stuff sucks. The MPG is terrible and is just as bad for the environment (if not worse). Now we're seeing the effect of using food as the ethanol source, the price of beef and certain foods is significantly up.

[dauss]

There's a good following for E-85 as race fuel because it's cheap, and the octane is very high. It also runs cooler than gasoline so you can run more aggressive timings and compression because it's nearly impossible to knock. I've seen many dyno charts of cars getting 13%+ more horsepower and 15%+ more torque with just a E-85 tune. Obviously you have to have the support mods like new fuel pump, injectors, exhaust, piggyback or standalone ECU and a protune.

[Dogmeat]

There's a good following for E-85 as race fuel because it's cheap, and the octane is very high. It also runs cooler than gasoline so you can run more aggressive timings and compression because it's nearly impossible to knock. I've seen many dyno charts of cars getting 13%+ more horsepower and 15%+ more torque with just a E-85 tune. Obviously you have to have the support mods like new fuel pump, injectors, exhaust, piggyback or standalone ECU and a protune.

You're an idiot.

[dauss]

I never said that it was good for anything else, but a lot of people love it. Here's an 02 WRX with a 20G.


91 octane gasoline


retuned on E-85.

[Dogmeat]

If you have a high-tech engine control system ethanol works.

That's about all it does. It is ___NOT___ a superior fuel by any means.

[impala454]

It smells like shit too... literally

[The Fanatic]

If the next president supports the hydrogen or ethanol "economies", I'm gonna scream. They're both unfeasible. AND ETHANOL GETS CRAPPY MILEAGE.

Tired of my fucking gas being diluted by that crap just so it's 20 cents per gallon cheaper. Need to get myself some damn acetone...

What's wrong with hydrogen? It seems like a fairly clean source of energy.

[Spectatrix]

It's clean, but ridiculously expensive to produce.

[pebkac]

If you have a high-tech engine control system ethanol works.

That's about all it does. It is ___NOT___ a superior fuel by any means.

It's clean, but ridiculously expensive to produce.

I would argue that these are the problems that must be overcome to provide clean fuel.

[Spectatrix]

After years of research, it's still prohibitively expensive. That might change, but I'm skeptical. I think we'll end up with electric vehicles and clean changes to the main power infrastructure (i.e. a move towards more solar, wind, and nuclear power).

This post has been edited by Spectatrix: Feb 4 2008, 10:46 AM

[impala454]

I would be shocked if electric vehicles are the norm in my lifetime. Sure you can find a fully electric vehicle right now, but it's essentially no more than a suped up golf cart.

[pebkac]

I wouldn't imagine electric cars would do anything more than shift the production of CO2 over to electric plants instead of cars.

[Hartmann]

I wouldn't imagine electric cars would do anything more than shift the production of CO2 over to electric plants instead of cars.

But you can control CO2 emissions more readily at the plant level (using CO2 capture and scrubbing)

[impala454]

We just need the power of the sun, in the palms of our hands...

[pysex]

I would be shocked if electric vehicles are the norm in my lifetime. Sure you can find a fully electric vehicle right now, but it's essentially no more than a suped up golf cart.

i watched a pretty amazing show about how they're developing the technology for electric cars...


it could work

[impala454]

I think I saw the same show, yeah pretty neat stuff. But still eons from having electric cars be the norm.

[pebkac]

But you can control CO2 emissions more readily at the plant level (using CO2 capture and scrubbing)

This is true.

In other news...

[Dogmeat]

It's clean, but ridiculously expensive to produce.

I think it's more the opposite.

It's dirty as hell, but electricity (needed to produce hydrogen) is cheap because electricity is produced by burning coal, which is the filthiest (and cheapest) fuel in use today ....

[Testm0nkey]

toyota is working on plans to release a fully plug in version of the prius. the later releases of the 09' may already have the lithium ion/plug in capability.

i have no doubt fully electric vehicles will be released to the mainstream public in my lifetime and be popular

besides already having electric cars. and burning coal is not the only way to produce electricity

[Dogmeat]

toyota is working on plans to release a fully plug in version of the prius. the later releases of the 09' may already have the lithium ion/plug in capability.

i have no doubt fully electric vehicles will be released to the mainstream public in my lifetime and be popular

besides already having electric cars. and burning coal is not the only way to produce electricity

No, it's not, but it's the cheapest.

Sure, you can have all this hippi-powered solar and wind shit, but that's STILL enormously expensive, and I'm sure that everyone will love having the 1.5MW wind turbine every 1.37 acres or whatever it was all over the entire US to make enough power to make it viable

[Testm0nkey]

wind power is pretty efficient already and becoming more and more. hell out at reese an international company is setting up studies for new wind harnessing energy techniques that are supposed to be cheaper nad better. and besides it wont ever cover all of the US because not everywhere in the US is a good source for wind

you lower peoples use of energy and wind power in addition to other clean sources can work. americans waste soooo much energy.

[Dogmeat]

wind power is pretty efficient already and becoming more and more. hell out at reese an international company is setting up studies for new wind harnessing energy techniques that are supposed to be cheaper nad better. and besides it wont ever cover all of the US because not everywhere in the US is a good source for wind

According to the DOE study I cited for that whole wind/solar/hydrogen energy project I worked on for my Sr. Design classes West Texas and Wyoming were the two windiest states in the nation and the study also said that if you could effectivley produce 1.5MW per 1.37 acres in the areas where the average wind speed was something like 11 mph year round (Can't remember the exact numbers) then it was feasable to erect an absolutley gargantuan number of wind turbines in order to produce something like 1/8th of the total output required by the western US in a day..

Either way it equated basically nothing but wind turbines for as far as the eye could see, which we know isn't politically feasable regardless of whether or not it's technically feasable.

The problem with wind turbines isn't their effeciency, it's that even in West Texas and/or Wyoming, Colorado, etc, as much as the wind does blow, it doesn't ALWAYS blow. If you had a constant supply of wind to keep the turbing operating at optimal RPM all the time things would be different, but unfortunatley mother nature isn't that nice (or not) to us.

[Testm0nkey]

ive heard that basically the blades are moving constantly thus being a constant source of energy though less than if they were moving faster. and covering a lot of empty space in west texas is far from being wind farms as far as the eye can see (certainly not like that where most people actually live)

and like i said americans need to stop wasting so much energy then we could cut our need for so much thus things like wind would be more useful

[Spectatrix]

Which is why we need wind + solar + nuclear + whatever else comes down the pipeline.

[Dogmeat]

Which is why we need wind + solar + nuclear + whatever else comes down the pipeline.

Nuclear +++++++

I want to be the Vault Dweller

[Testm0nkey]

my really only concern about nuclear energy is the water pollution stemming from the manmade or otherwise blocked off lakes/rivers/water sources that are used and flushed due to the coolant systems. my old professor would mention things like you knew where the line of pollution was because there was an invisible barrier fish and other wildlife wouldnt cross

[Dogmeat]

my really only concern about nuclear energy is the water pollution stemming from the manmade or otherwise blocked off lakes/rivers/water sources that are used and flushed due to the coolant systems. my old professor would mention things like you knew where the line of pollution was because there was an invisible barrier fish and other wildlife wouldnt cross

I want to be the Vault Dweller.

[Spectatrix]

I want to be the Vault Dweller.

Go fetch me a crate full of water chips.

F'ing Vault City.

[chook]

Vault 16 got that shipment.

Wind - Cheap for clean but not viable as a constant, still attached to a grid with coal/other power source.

Solar - Energy Levels of photons are different, Either no electricity if to low or heat from extra energy. Expensive Multilayer tech. Still profitable in Tucson after 10 years.

Biomass - Can Create 1MW reactors fairly easily, just that places where they would be common (moo moo farms) would be too expensive to integrate it to the grid.

[Spectatrix]

Vault 16 got that shipment.

Vault 8, actually. AKA Vault City.

This post has been edited by Spectatrix: Feb 5 2008, 11:18 PM

[dauss]

toyota is working on plans to release a fully plug in version of the prius. the later releases of the 09' may already have the lithium ion/plug in capability.

i have no doubt fully electric vehicles will be released to the mainstream public in my lifetime and be popular

besides already having electric cars. and burning coal is not the only way to produce electricity

I like the concept of the Chevy Volt. Plug in, all electric for like 40 miles or something, then after the juice runs out, the gasoline engine kicks in. They say a large majority drive 40 miles or less round trip to work. I don't know how much more the electricty bill be after 20 full recharges to the car.

Obviously impala would be like "OMGXORZ, nickel is poisoning teh erth!"

[Spectatrix]

I've worked out the math before. Electricity ends up being cheaper than gas. It would probably remain so too, so long as people were mainly charging their cars during non-peak hours (i.e. at night).

[Dogmeat]

I've worked out the math before. Electricity ends up being cheaper than gas. It would probably remain so too, so long as people were mainly charging their cars during non-peak hours (i.e. at night).

That would effectivley make peak "peak time" 24 hours a day.

[impala454]

I like the concept of the Chevy Volt. Plug in, all electric for like 40 miles or something, then after the juice runs out, the gasoline engine kicks in. They say a large majority drive 40 miles or less round trip to work. I don't know how much more the electricty bill be after 20 full recharges to the car.

Obviously impala would be like "OMGXORZ, nickel is poisoning teh erth!"

Is there a new rule or something, "must try to get some pathetic shot on impala in every post"? If you want to dig up old stuff that's fine, I was merely pointing out the irony that these uber "green" vehicles are made using materials from one of the dirtiest mining operations on the planet. The point being, no matter how green the hippies try to be, they'll always be polluting. Like I've said before, I think they're all hypocrites, until I see them living out in the woods for their entire lives.

[impala454]

I've worked out the math before. Electricity ends up being cheaper than gas. It would probably remain so too, so long as people were mainly charging their cars during non-peak hours (i.e. at night).

Not to mention it would bring our electrical grid to its knees. Oh, hey California, you were having brownouts because people didn't want their house to be 95 degrees in the summer? Now let's plug in 10 million cars!

[Hartmann]

http://www.nytimes.com/2008/02/08/science/...nyt&emc=rss

[chook]

Vault 8, actually. AKA Vault City.

no wonder i died!

[Testm0nkey]

I like the concept of the Chevy Volt. Plug in, all electric for like 40 miles or something, then after the juice runs out, the gasoline engine kicks in. They say a large majority drive 40 miles or less round trip to work. I don't know how much more the electricty bill be after 20 full recharges to the car.

Obviously impala would be like "OMGXORZ, nickel is poisoning teh erth!"

yeah the new 09's are supposed to be fully hybrid until 40mpg-60mph and then the gas engine kicks in. toyota is being really tight lipped about it and the first release of 09s may just be pumped up 08's but id say within two years itll be the super new revolution of the prius.

impala - one of the dirtiest mining operations in the world? are you talking about the plant in canada? then you have read too many GMC/exxon sponsored news articles. that plant destroyed everything around it before toyota purchased it. since toyotas purchased their batteries from the plant, they have planted some ungodly amount of trees and have totally changed the environment around the plant for the better. they also use only about 1.5% of the nickel the plant produces. guess what your household goods and other items use the rest!
and all cars contain some amount of nickel as well as many other manufactured products. its not like the prius is 500 lbs of it. AND even if you hate the awesome nickel based battery they are moving towards lithium which is even lighter, uses less metal, and is even more powerful.

AND the nickel batteries are replaced less than a normal car battery. and we know how damaging those batteries are. on the prius forum im on people have over 100,000 - 200,000 on first gen - 2004 prius and they are only on their second batteries


seriously the prius is the best car in the world hands down
24k for premium package brand new car that gets 40+ mpg, 100k full manufacturer warranty AND a 3-5k tax deduction. in addition to being a car from toyota and having a great maintenance free running track.

another thing about the plant in canada - that area in canada is called the mining capital of the world. the nickel plant is far from theonly thing going on there


/superfan rant