With gas prices falling, will Exxon-Mobile survive?

[ColbertWatcher]

Why yes!

Exxon Mobil posts biggest U.S. quarterly profit ever
The company rides sky-high oil prices to shatter its own record set in the previous quarter. Its third-quarter earnings of $14.83 billion are up 58% from a year earlier.
By Ronald D. White

October 31, 2008

Riding record oil prices in the third quarter, Exxon Mobil Corp. on Thursday posted the biggest quarterly profit ever for a U.S. company: $14.83 billion, or about $112,000 a minute.

--http://www.latimes.com/business/printedition/la-fi-exxon31-2008oct31,0,7310279.story">Los Angeles Times

I hope they were able to get enough profit from the interest to make up for this lull in gas prices.

[HereSince1628]

1. That may not be enough to make a good CEO bonus. n/t

[ColbertWatcher]

5. If taxpayers bail them out, everything is possible! n/t

[Bandit]

12. I don't know ... One Hundred a Fifty Million Dollars a DAY

In pure NET PROFIT should allow them to pay at least a couple bonus's. And Remember they have been making OVER a Hundred Million Dollars a DAY now for six straight years. And this is all NET PROFIT, after all expenses have been paid. In the pocket money..

[ColbertWatcher]

13. I wish this was talked about more.

$150,000,000 a day, while people are losing their jobs, getting buried under medical bills and getting kicked out of their houses.

[ColbertWatcher]

2. opps. n/t

[theoldman]

3. Oil companies make a profit regardless of the price of oil.

Remember that the profit on a gallon of gas is the same if oil is $10 a barrel or $40 a barrel. The big profit comes when they sell their $140 a barrel oil at a 5% profit. 5% on $10 is 50 cents, 5% on $140 is $5.20. Oil companies don't' just buy oil, they also sell oil. Get the picture?

[Hubert Flottz]

4. I don't hardly see how they'll survive until they can get another

GOP tax break.

[ColbertWatcher]

6. Or another corporate appeaser in the White House. n/t

[fla nocount]

7. They'll be getting that, n/t

[ColbertWatcher]

8. You do realize there is a difference between the two parties, don't you? n/t

[ThomWV]

9. They make lots of money when the price is high, but they still make money when the price is low

They aren't going anywhere and besides that, they have been using the enormous profits of the Bush Years to buy back stock on the open market - which means less pay out for dividends during lean years (as if they ever have any) which increases their survivability.

So if you're thinking about them going under you're dreaming.

[sendero]

10. Why do I have a sneaking suspicion...

.. that gas prices will start rising again a couple of weeks after the election?

I have watched the price of gas/oil a long time, I've NEVER seen a drop in the price of crude translate to the pump so quickly.

I suppose it could be a demand issue, we'll just have to wait until December I guess :)

[peanut2010]

11. I don`t believe demand has dropped at least not here in KY

Just as much traffic as there ever was.