Exxon Spends $1 Billion Per Day To Operate

This is something the liberal media and Dems never talk about. Meanwhile, ABC tires to attack Exxon for making a proft


ExxonMobil CEO Defends High Profits
Rex Tillerson Discusses Industry's Future in Exclusive Interview With Charles Gibson

ExxonMobil CEO and chairman Rex Tillerson defended his company's staggering $11.7 billion in profits for the second quarter, saying that the company's earnings reflected the magnitude of its business operation

"I saw someone characterize our profits the other day in terms of $1,400 in profit per second. Well, they also need to understand we paid $4,000 a second in taxes, and we spent $15,000 a second in cost," Tillerson told ABC News' Charles Gibson. "We spend $1 billion a day just running our business. So this is a business where large numbers are just characteristic of it."

ExxonMobil earned the best quarterly profit ever for a corporation, up 14 percent from last year but still below investors' expectations. While Wall Street was slightly disappointed by Exxon's earnings, some Americans were outraged by what they saw as big oil profiting at their expense. Tillerson recognized that consumers are angry about the escalating price of gas.

http://abcnews.go.com/Business/story?id=5574568&page=1

The oil companies do have the world by the short hairs, and they're largely unregulated, so they can gouge all they want. What are we going to do?

Pale Rider wrote:The oil companies do have the world by the short hairs, and they're largely unregulated, so they can gouge all they want. What are we going to do?

There is NO gouging Pale

Do not fall for that BS my friend

I think there is. Big oil sees the writing on the wall that in the next twenty years their days of record profits will be over, for good. So they're making as much money as they can, while they can. There's nothing illegal about that, but yes, I do believe that's what they're doing. What kind of business would they be if they weren't? Demand and supply, gouging, call it what you want, but the fact of the matter is, they're making as much money as they possibly can, while they can.

Pale Rider wrote:I think there is. Big oil sees the writing on the wall that in the next twenty years their days of record profits will be over, for good. So they're making as much money as they can, while they can. There's nothing illegal about that, but yes, I do believe that's what they're doing. What kind of business would they be if they weren't? Demand and supply, gouging, call it what you want, but the fact of the matter is, they're making as much money as they possibly can, while they can.

Pale, oil companies have no control of the price of oil

They make only about a dime profit off the sale of a gallon of gas. Taxes add anywhere from 40 to70 cents per gallon

If anyone is gouging, it is the government