Comments on: Exxon Mobile makes $1,318 a second http://www.penny-saved.com/2006/07/27/exxon-mobile-makes-1318-a-second/ Personal Finance and Wealth by the Penny Mon, 06 Oct 2008 19:57:25 +0000 http://wordpress.org/?v=2.6.2 By: thatedeguy http://www.penny-saved.com/2006/07/27/exxon-mobile-makes-1318-a-second/#comment-183 thatedeguy Fri, 28 Jul 2006 14:52:08 +0000 http://www.penny-saved.com/2006/07/27/exxon-mobile-makes-1318-a-second/#comment-183 Bill, Is it demand pushing up the revenue, or demand pushing up the prices? The way I see it, the oil companies see a rising demand and a limited future supply, so they decided that charging more now would give them a cushion if the reserves ever dry up. I like to think of the oil industry as a dirtier version of the diamond industry. Release all that's available and the prices drop drastically. Bill,

Is it demand pushing up the revenue, or demand pushing up the prices? The way I see it, the oil companies see a rising demand and a limited future supply, so they decided that charging more now would give them a cushion if the reserves ever dry up. I like to think of the oil industry as a dirtier version of the diamond industry. Release all that’s available and the prices drop drastically.

]]> By: Through a Glass Darkly http://www.penny-saved.com/2006/07/27/exxon-mobile-makes-1318-a-second/#comment-182 Through a Glass Darkly Fri, 28 Jul 2006 14:40:26 +0000 http://www.penny-saved.com/2006/07/27/exxon-mobile-makes-1318-a-second/#comment-182 Hallelujah. Profit is one thing. Ridiculous abuse of the American public (with silent Senate & House members who pocket lots of Big Oil money) is another. Hallelujah. Profit is one thing. Ridiculous abuse of the American public (with silent Senate & House members who pocket lots of Big Oil money) is another.

]]> By: Bill http://www.penny-saved.com/2006/07/27/exxon-mobile-makes-1318-a-second/#comment-181 Bill Fri, 28 Jul 2006 14:37:40 +0000 http://www.penny-saved.com/2006/07/27/exxon-mobile-makes-1318-a-second/#comment-181 The cost to extract oil from the ground (remember, Exxon is a huge oil producer) is staying fairly constant, but demand has pushed up the revenue. So, profits go up. Pure retailers make next to nothing on gas. Refineries fall in between. It all comes back to supply and demand. The cost to extract oil from the ground (remember, Exxon is a huge oil producer) is staying fairly constant, but demand has pushed up the revenue. So, profits go up.

Pure retailers make next to nothing on gas. Refineries fall in between.

It all comes back to supply and demand.

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