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Exxon Flexes Muscle With Higher Oil Prices And Production

Forbes -- The world’s largest publicly traded oil company Exxon Mobil announced its Q4 earnings on January 31 , reporting 2% growth in earnings over the same quarter last year as low downstream margins tempered strong upstream results.

Annual earnings for 2011 were up 35% over last year to touch $41 billion. The company also spent a record $36.8 billion on capital expenditure and exploration projects and increased its oil equivalent production by 1%.

Exxon also reinforced its commitment to continue gas exploration in the U.S. where prices have fallen to 10-year lows because of over supply. This is in contrast to moves by other players like ConocoPhillips and Chesapeake Energy who are reducing gas output in the U.S. because of low prices.

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Submitted Feb 03, 2012 By: Mudsprings

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Wanda127 Champion Author Florida Posts:1,496 Points:571,680 Joined:May 2010	Message Posted: Feb 3, 2012 6:41:16 PM Ignore Wanda127 Report Abuse If they would lower the prices then we would use more oil & the over supply would be used. They just are too Greedy!
glorioussnookie Champion Author Tennessee Posts:3,418 Points:595,155 Joined:Feb 2010	Message Posted: Feb 3, 2012 1:37:46 PM Ignore glorioussnookie Report Abuse 'ntass1" said it with a few simple truthful words!
crestliner95 Veteran Author Illinois Posts:293 Points:111,905 Joined:May 2011	Message Posted: Feb 3, 2012 8:43:30 AM Ignore crestliner95 Report Abuse How high is high? When will we say enough is enough?
scu227 Champion Author New Haven Posts:2,209 Points:419,700 Joined:Feb 2011	Message Posted: Feb 3, 2012 8:03:13 AM Ignore scu227 Report Abuse Should we be feling sorry for them with only a 35% increase in earnings to 41 billion? GREEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEED !!!!!!
cheapchickKY Champion Author Lexington Posts:2,145 Points:434,280 Joined:Jan 2011	Message Posted: Feb 3, 2012 6:23:39 AM Ignore cheapchickKY Report Abuse Keep raising those prices so the gas companies can keep solvent. (sarcasm)
brbaritone Champion Author Virginia Posts:1,242 Points:1,366,045 Joined:Jan 2007	Message Posted: Feb 3, 2012 6:13:40 AM Ignore brbaritone Report Abuse 'Low downstream margins' means the price of gasoline is relatively low based on the price of crude oil. The 'high upstream results' indicates Exxon is making a lot of money selling crude for a huge profit over the cost of production. THAT"S the key - the price of oil is MUCH higher than it should be - double, maybe? The difference is speculation in the oil market.
cmptrmush Champion Author Detroit Posts:1,764 Points:377,845 Joined:Feb 2011	Message Posted: Feb 3, 2012 6:02:24 AM Ignore cmptrmush Report Abuse A company of that size making 35% more than the year before! They definately positioned themselves to be in the right spot to make a ton of money. Especially in this economy.
salgood Champion Author Twin Cities Posts:2,562 Points:641,420 Joined:Jun 2008	Message Posted: Feb 3, 2012 5:54:47 AM Ignore salgood Report Abuse Rabble, rabble, rabble. Lets pass a law to force Exxon Mobil to lose money and get rid of the 28,000 jobs they provide in the US! That'll show 'em.
el_fr Champion Author Massachusetts Posts:1,514 Points:383,325 Joined:Apr 2011	Message Posted: Feb 3, 2012 5:20:34 AM Ignore el_fr Report Abuse Ouch!
jrs4125 All-Star Author Indiana Posts:916 Points:229,695 Joined:Sep 2011	Message Posted: Feb 3, 2012 5:12:33 AM Ignore jrs4125 Report Abuse Bend over..... they need the money.
ArmydudeNC Champion Author North Carolina Posts:6,318 Points:1,017,325 Joined:Jul 2009	Message Posted: Feb 3, 2012 5:11:56 AM Ignore ArmydudeNC Report Abuse Keep on making that money.
ReddevilNO Champion Author New Orleans Posts:1,359 Points:244,355 Joined:Aug 2011	Message Posted: Feb 3, 2012 5:07:21 AM Ignore ReddevilNO Report Abuse I don't think I will buy Exxon anymore. That's it.
mike1881 All-Star Author Fayetteville Posts:709 Points:259,855 Joined:Feb 2011	Message Posted: Feb 3, 2012 4:36:23 AM Ignore mike1881 Report Abuse Why can't government regulate this from happening? Prices have fallen to 10 year lows due to over supply, but yet gas prices are still high as hell. Why?
OTISFL Champion Author Pensacola Posts:2,865 Points:529,615 Joined:Apr 2009	Message Posted: Feb 3, 2012 4:02:11 AM Ignore OTISFL Report Abuse And they get away with it!!!
bills299 Champion Author Atlanta Posts:1,552 Points:544,025 Joined:May 2005	Message Posted: Feb 3, 2012 4:01:34 AM Ignore bills299 Report Abuse Money money money!!
graceman Champion Author Baltimore Posts:3,746 Points:916,845 Joined:Jun 2008	Message Posted: Feb 3, 2012 3:44:27 AM Ignore graceman Report Abuse The biggest will always outnumber the others.
bsg75 Sophomore Author Chicago Posts:102 Points:88,735 Joined:May 2010	Message Posted: Feb 3, 2012 1:42:26 AM Ignore bsg75 Report Abuse intriguing
ntass1 Champion Author Edmonton Posts:1,945 Points:368,450 Joined:May 2011	Message Posted: Feb 3, 2012 1:34:32 AM Ignore ntass1 Report Abuse Republicans best freinds big oil love those tax breaks!
blitzntj Champion Author Jacksonville Posts:3,187 Points:648,030 Joined:Dec 2007	Message Posted: Feb 3, 2012 1:27:57 AM Ignore blitzntj Report Abuse why? because they can.....
Gasazhunter Champion Author Phoenix Posts:2,377 Points:665,710 Joined:May 2010	Message Posted: Feb 3, 2012 1:27:43 AM Ignore Gasazhunter Report Abuse Money hoggs.
Saturn93 Champion Author Salt Lake City Posts:6,991 Points:1,576,840 Joined:Oct 2006	Message Posted: Feb 3, 2012 1:22:53 AM Ignore Saturn93 Report Abuse Good. Now I will avoid Exxon brand products.
krobp46 All-Star Author Milwaukee Posts:839 Points:180,680 Joined:Sep 2011	Message Posted: Feb 3, 2012 1:21:34 AM Ignore krobp46 Report Abuse Interesting
chuckwthompson Champion Author Charlotte Posts:1,880 Points:215,585 Joined:Sep 2011	Message Posted: Feb 3, 2012 1:20:01 AM Ignore chuckwthompson Report Abuse Greed followed by more greed!
Retowered Champion Author Colorado Posts:6,739 Points:2,323,365 Joined:May 2004	Message Posted: Feb 3, 2012 1:19:37 AM Ignore Retowered Report Abuse More Oil company GREED.
SnickersDog Champion Author Denver Posts:1,457 Points:319,610 Joined:Feb 2011	Message Posted: Feb 3, 2012 1:18:28 AM Ignore SnickersDog Report Abuse Oil company's are trying to get our last little bit of money before Obama gets that .25 tax hike.
Krykson All-Star Author Chicago Posts:840 Points:247,185 Joined:Jul 2006	Message Posted: Feb 3, 2012 1:18:21 AM Ignore Krykson Report Abuse Interesting
tessnlu Champion Author Missouri Posts:20,397 Points:765,895 Joined:Aug 2008	Message Posted: Feb 3, 2012 1:16:35 AM Ignore tessnlu Report Abuse Greed
wild3bill Champion Author New York Posts:2,191 Points:1,501,525 Joined:Nov 2005	Message Posted: Feb 3, 2012 1:09:28 AM Ignore wild3bill Report Abuse The FTC should Frack Exxon and Mobil into two separate companies at least just as the Standard Oil Monopoly was broken up under Teddy Roosevelt 100 Years Ago!
downstream All-Star Author Little Rock Posts:644 Points:1,061,410 Joined:Mar 2006	Message Posted: Feb 3, 2012 1:07:15 AM Ignore downstream Report Abuse you don't see THEM going out of business.
hubcapLA Champion Author Louisiana Posts:3,075 Points:767,175 Joined:Apr 2009	Message Posted: Feb 3, 2012 1:04:46 AM Ignore hubcapLA Report Abuse The oil companies do what is best for them and could care less how it hurts us.
MUSTANGSRUS Champion Author Ontario Posts:7,557 Points:1,542,045 Joined:Sep 2006	Message Posted: Feb 3, 2012 1:04:36 AM Ignore MUSTANGSRUS Report Abuse Wow, those are strong earnings.
jcurley Champion Author California Posts:6,172 Points:1,426,685 Joined:Dec 2007	Message Posted: Feb 3, 2012 1:04:11 AM Ignore jcurley Report Abuse I hope y'all realize that companies like Exxon, have a "tax accounting" function that actually is a profit center. The spend money on politicians and make (a lot more) money off the tax breaks they get. Which is why companies like Exxon, pay basically zero federal income tax. Us poor people in the bottom 99% are paying for their infrastructure needs and for the military to protect their oil supplies. Nice, huh? [Edited by: jcurley at 2/3/2012 2:04:43 AM EST]
HKL All-Star Author Wilmington Posts:639 Points:359,430 Joined:Oct 2010	Message Posted: Feb 3, 2012 1:02:22 AM Ignore HKL Report Abuse ok
baconnie Champion Author Dallas Posts:2,681 Points:536,640 Joined:Jun 2008	Message Posted: Feb 3, 2012 12:56:15 AM Ignore baconnie Report Abuse always the case, that's why I try my best not to buy their gas
DirtDauber Champion Author San Antonio Posts:4,944 Points:1,266,225 Joined:Nov 2005	Message Posted: Feb 3, 2012 12:55:06 AM Ignore DirtDauber Report Abuse They do it, because they can.
DTrainCanada Champion Author Saskatoon Posts:1,545 Points:1,094,605 Joined:Aug 2005	Message Posted: Feb 3, 2012 12:53:15 AM Ignore DTrainCanada Report Abuse Wow ... interesting ...
texasvet Champion Author Texas Posts:2,629 Points:279,555 Joined:Jul 2009	Message Posted: Feb 3, 2012 12:48:37 AM Ignore texasvet Report Abuse They're making the investment in NG drilling now while they're flush with cash. They'll have the capacity available when the market goes back up.
10k Champion Author North Carolina Posts:17,615 Points:1,892,720 Joined:May 2006	Message Posted: Feb 3, 2012 12:46:40 AM Ignore 10k Report Abuse y'all wanna know what turns a normal person into an assassin ??..such crap as this..i can understand why an unemployed person(like myself), or a minimum wage earner would break, and go off the deep end.. this crap has GOT to end..there is nothing whatsoever wrong with a business making money, but when that business continually rakes us over the coals, making obscene profits, h*ll yeah, there is a prob..
no8c Champion Author Ohio Posts:1,024 Points:345,575 Joined:Jul 2008	Message Posted: Feb 3, 2012 12:41:43 AM Ignore no8c Report Abuse Thanks for posting this article!
cutter1330 Champion Author Oklahoma Posts:6,255 Points:1,334,415 Joined:Jul 2005	Message Posted: Feb 3, 2012 12:40:33 AM Ignore cutter1330 Report Abuse NG America's Fuel of the Future.
vulcan96 Champion Author Ohio Posts:21,913 Points:2,743,915 Joined:Aug 2004	Message Posted: Feb 3, 2012 12:39:41 AM Ignore vulcan96 Report Abuse oh my ---- poor babies.
runout9 Champion Author New Jersey Posts:3,240 Points:978,145 Joined:Dec 2008	Message Posted: Feb 3, 2012 12:35:05 AM Ignore runout9 Report Abuse Natural gas will become the fossil fuel of choice over the next several decades. Low prices will prompt more conversions to natural gas from coal, diesel & heating oil. All the producers will then enjoy higher production & firmer pricing.
gass12 Champion Author Omaha Posts:6,612 Points:1,944,415 Joined:Oct 2005	Message Posted: Feb 3, 2012 12:25:33 AM Ignore gass12 Report Abuse That is sad it ir to cheap.
Ethan777OH Sophomore Author Ohio Posts:192 Points:21,285 Joined:May 2011	Message Posted: Feb 3, 2012 12:22:24 AM Ignore Ethan777OH Report Abuse When does Exxon, or any oil company really, NOT flex its muscle???!?
nwsynthetics All-Star Author Oregon Posts:527 Points:140,220 Joined:Dec 2011	Message Posted: Feb 3, 2012 12:22:17 AM Ignore nwsynthetics Report Abuse wow. good thing I have Facebook shares.
gmcgas Champion Author Atlanta Posts:3,546 Points:1,356,740 Joined:Mar 2004	Message Posted: Feb 3, 2012 12:21:44 AM Ignore gmcgas Report Abuse all in the numbers
roadrunnerMO Champion Author Kansas Posts:6,521 Points:1,336,460 Joined:Jul 2008	Message Posted: Feb 3, 2012 12:20:28 AM Ignore roadrunnerMO Report Abuse Road-runner that sez gas and not oil exploration where prices are at 10-year lows. NOBAMA IN 2012
wwardyota Champion Author Honolulu Posts:1,451 Points:795,210 Joined:May 2008	Message Posted: Feb 3, 2012 12:20:12 AM Ignore wwardyota Report Abuse Exxon also reinforced its commitment to continue gas exploration in the U.S. where prices have fallen to 10-year lows because of over supply. This is in contrast to moves by other players like ConocoPhillips and Chesapeake Energy who are reducing gas output in the U.S. because of low prices. they do this because...?
danol43 All-Star Author Modesto Posts:880 Points:298,030 Joined:May 2011	Message Posted: Feb 3, 2012 12:19:59 AM Ignore danol43 Report Abuse Over supply or lack of demand.
Road-Runner Champion Author Denver Posts:6,405 Points:1,774,340 Joined:May 2004	Message Posted: Feb 3, 2012 12:18:35 AM Ignore Road-Runner Report Abuse Ten year lows? Certainly NOT for consumers! What a cruel joke!