Why does Exxon complain about the $10.9 BILLION dollars profit that they just made during the 1st quarter?

Question

They made 17% more than they did last year at that same period, and still unhappy about it...

Shouldn't people boycott these these big oil companies??

I know I do

Answer 1

How does that profit figure compare to their capital investment?

Answer 2

Exxon is not the problem. Oil co. are not the problem.

They don't make any more the Apple computer does for the product they sell. The problem is that oil and gas is in such high demand.

China, India, other former third world countries are coming online. People there for the first time are buying gas and cars because they have the money to do so. Remember there are 1 billion plus people in both china and india by themselves. They account for nearly 1/3 or the worlds population.

Now you add in the federal reserve cutting interest rates, essentially printing money. Which devalues the dollar. The price of oil is based on the dollar.....if the value of a dollar goes down....a barrel of oil takes more dollars to buy.

It's supply and demand. And simple economics. The oil companies are not the problem. It is much much more complicated then that.

What we need to do is drill the resources we have here in the US. Develop alternative fuels for the future 15-20 years. And drill more (ANWR, etc.) for the 5-10 year future. We could even SYNTHETICALLY create oil and liquid gasoline from coal reserves for 55 dollars a barrel.

Montana has reserves enough coal to provide a synthetic version of our gas supply for 200 years!

We need action. And further government regulations and inaction by the speaker of the house and congress is not doing it. Obama and Clinton will not do it. We need someone who has shown the ability to get things done.

America could be exporting oil to the world and be richer then we even have been if we were only determined enough to do it. Hopefully this high gasoline will spark that action.