Amadeus Posted October 28, 2005 Share Posted October 28, 2005 From USA Today: Big oil rakes in historic profits While drivers have been paying up at the pump, profit has been gushing in to oil companies. Thursday, ExxonMobil became the starkest example yet of how much big oil companies benefited from the huge run-up in oil prices in the third quarter even as two hurricanes ripped through the industry's Gulf Coast infrastructure. Exxon reported: • Profit up 75% to $9.9 billion. That's the second-most a U.S. company has earned in a three-month period, a USA TODAY analysis of data from Capital IQ found. It's greater than the annual gross domestic product of entire nations, including Niger, Zambia and Iceland. • Revenue up 32% to $100.7 billion. That's greater than the annual GDP of all but just 57 of the world's economies. It is also the most revenue — what is brought in selling goods and services — a U.S. corporation has posted in a quarter. Exxon illustrates the energy sector's tremendous profit amid record-high energy prices. The industry is on pace to earn $96 billion this year — more than the USA's industrial and telecom companies will earn combined, says Standard & Poor's. Royal Dutch Shell reported net income of $9 billion Thursday. This week, BP reported a $6.5 billion third-quarter profit and ConocoPhillips, $3.8 billion. Today, ChevronTexaco is expected to post earnings of $3.9 billion, says Reuters Estimates. Granted, they are the figures for the USA, but still: (NOT) Nice to see that the oil companies tell us "Oh, it's so expensive to get the oil - sorry but we have to pass that cost on" while making historic profits - Bartards! Still waiting for my "Thank You" Cards from Shell and Total - would deserve one by now... Link to comment Share on other sites More sharing options...
Slim Posted October 28, 2005 Share Posted October 28, 2005 They're fekked when the oil runs out yay! Oh, so are the rest of us, doh! Link to comment Share on other sites More sharing options...
Mission Posted October 28, 2005 Share Posted October 28, 2005 Yep, Shell makes something like £1,000,000 per hour, can't remember if that's profit or turnover but it's a lot, either way. Link to comment Share on other sites More sharing options...
ans Posted October 28, 2005 Share Posted October 28, 2005 PEAK OIL Edit: Sorry, wrong forum. Link to comment Share on other sites More sharing options...
cheesemonster2005 Posted October 29, 2005 Share Posted October 29, 2005 Boycott Esso I remember blockading an ESSO garage when I was at uni. That was fun but tiring. Are there any Esso garages left on the island? There used to be quite a lot but I remember most changed to Total for some reason. Link to comment Share on other sites More sharing options...
Lonan3 Posted October 31, 2005 Share Posted October 31, 2005 Boycott Esso I remember blockading an ESSO garage when I was at uni. That was fun but tiring. Are there any Esso garages left on the island? There used to be quite a lot but I remember most changed to Total for some reason. There also used to be a number of BP stations, but they disappeared a long time ago. I think the choice is pretty much limited to Shell or Total, now. Link to comment Share on other sites More sharing options...
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