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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:1,491 Points:568,255 Joined:May 2010	Message Posted: Feb 3, 2012 3:41:16 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:3,383 Points:591,685 Joined:Feb 2010	Message Posted: Feb 3, 2012 10:37:46 AM 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 5:43:30 AM Ignore crestliner95 Report Abuse How high is high? When will we say enough is enough?
scu227 Champion Author New Haven Posts:2,188 Points:415,700 Joined:Feb 2011	Message Posted: Feb 3, 2012 5:03:13 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:2,129 Points:431,255 Joined:Jan 2011	Message Posted: Feb 3, 2012 3:23:39 AM Ignore cheapchickKY Report Abuse Keep raising those prices so the gas companies can keep solvent. (sarcasm)
brbaritone Champion Author Virginia Posts:1,236 Points:1,362,450 Joined:Jan 2007	Message Posted: Feb 3, 2012 3:13:40 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:1,744 Points:373,945 Joined:Feb 2011	Message Posted: Feb 3, 2012 3:02:24 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:2,561 Points:640,425 Joined:Jun 2008	Message Posted: Feb 3, 2012 2:54:47 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:1,499 Points:380,300 Joined:Apr 2011	Message Posted: Feb 3, 2012 2:20:34 AM Ignore el_fr Report Abuse Ouch!
jrs4125 All-Star Author Indiana Posts:901 Points:226,670 Joined:Sep 2011	Message Posted: Feb 3, 2012 2:12:33 AM Ignore jrs4125 Report Abuse Bend over..... they need the money.
ArmydudeNC Champion Author North Carolina Posts:6,298 Points:1,014,075 Joined:Jul 2009	Message Posted: Feb 3, 2012 2:11:56 AM Ignore ArmydudeNC Report Abuse Keep on making that money.
ReddevilNO Champion Author New Orleans Posts:1,339 Points:240,355 Joined:Aug 2011	Message Posted: Feb 3, 2012 2:07:21 AM Ignore ReddevilNO Report Abuse I don't think I will buy Exxon anymore. That's it.
mike1881 All-Star Author Fayetteville Posts:694 Points:256,080 Joined:Feb 2011	Message Posted: Feb 3, 2012 1:36:23 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:2,844 Points:525,615 Joined:Apr 2009	Message Posted: Feb 3, 2012 1:02:11 AM Ignore OTISFL Report Abuse And they get away with it!!!
bills299 Champion Author Atlanta Posts:1,532 Points:540,025 Joined:May 2005	Message Posted: Feb 3, 2012 1:01:34 AM Ignore bills299 Report Abuse Money money money!!
graceman Champion Author Baltimore Posts:3,731 Points:913,820 Joined:Jun 2008	Message Posted: Feb 3, 2012 12:44:27 AM Ignore graceman Report Abuse The biggest will always outnumber the others.
bsg75 Rookie Author Chicago Posts:80 Points:87,795 Joined:May 2010	Message Posted: Feb 2, 2012 10:42:26 PM Ignore bsg75 Report Abuse intriguing
ntass1 Champion Author Edmonton Posts:1,925 Points:365,200 Joined:May 2011	Message Posted: Feb 2, 2012 10:34:32 PM Ignore ntass1 Report Abuse Republicans best freinds big oil love those tax breaks!
blitzntj Champion Author Jacksonville Posts:3,167 Points:644,030 Joined:Dec 2007	Message Posted: Feb 2, 2012 10:27:57 PM Ignore blitzntj Report Abuse why? because they can.....
Gasazhunter Champion Author Phoenix Posts:2,362 Points:662,685 Joined:May 2010	Message Posted: Feb 2, 2012 10:27:43 PM Ignore Gasazhunter Report Abuse Money hoggs.
Saturn93 Champion Author Salt Lake City Posts:6,976 Points:1,573,815 Joined:Oct 2006	Message Posted: Feb 2, 2012 10:22:53 PM Ignore Saturn93 Report Abuse Good. Now I will avoid Exxon brand products.
krobp46 All-Star Author Milwaukee Posts:819 Points:176,680 Joined:Sep 2011	Message Posted: Feb 2, 2012 10:21:34 PM Ignore krobp46 Report Abuse Interesting
chuckwthompson Champion Author Charlotte Posts:1,865 Points:212,560 Joined:Sep 2011	Message Posted: Feb 2, 2012 10:20:01 PM Ignore chuckwthompson Report Abuse Greed followed by more greed!
Retowered Champion Author Colorado Posts:6,724 Points:2,320,340 Joined:May 2004	Message Posted: Feb 2, 2012 10:19:37 PM Ignore Retowered Report Abuse More Oil company GREED.
SnickersDog Champion Author Denver Posts:1,437 Points:315,610 Joined:Feb 2011	Message Posted: Feb 2, 2012 10:18:28 PM 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 2, 2012 10:18:21 PM Ignore Krykson Report Abuse Interesting
tessnlu Champion Author Missouri Posts:20,397 Points:765,895 Joined:Aug 2008	Message Posted: Feb 2, 2012 10:16:35 PM Ignore tessnlu Report Abuse Greed
wild3bill Champion Author New York Posts:2,191 Points:1,498,450 Joined:Nov 2005	Message Posted: Feb 2, 2012 10:09:28 PM 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:640 Points:1,057,830 Joined:Mar 2006	Message Posted: Feb 2, 2012 10:07:15 PM Ignore downstream Report Abuse you don't see THEM going out of business.
hubcapLA Champion Author Louisiana Posts:3,070 Points:763,850 Joined:Apr 2009	Message Posted: Feb 2, 2012 10:04:46 PM 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 2, 2012 10:04:36 PM Ignore MUSTANGSRUS Report Abuse Wow, those are strong earnings.
jcurley Champion Author California Posts:6,160 Points:1,423,770 Joined:Dec 2007	Message Posted: Feb 2, 2012 10:04:11 PM 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 2, 2012 10:02:22 PM Ignore HKL Report Abuse ok
baconnie Champion Author Dallas Posts:2,676 Points:535,665 Joined:Jun 2008	Message Posted: Feb 2, 2012 9:56:15 PM 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:4,929 Points:1,263,200 Joined:Nov 2005	Message Posted: Feb 2, 2012 9:55:06 PM Ignore DirtDauber Report Abuse They do it, because they can.
DTrainCanada Champion Author Saskatoon Posts:1,535 Points:1,092,555 Joined:Aug 2005	Message Posted: Feb 2, 2012 9:53:15 PM Ignore DTrainCanada Report Abuse Wow ... interesting ...
texasvet Champion Author Texas Posts:2,627 Points:279,290 Joined:Jul 2009	Message Posted: Feb 2, 2012 9:48:37 PM 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:17,588 Points:1,889,695 Joined:May 2006	Message Posted: Feb 2, 2012 9:46:40 PM 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:1,009 Points:342,550 Joined:Jul 2008	Message Posted: Feb 2, 2012 9:41:43 PM Ignore no8c Report Abuse Thanks for posting this article!
cutter1330 Champion Author Oklahoma Posts:6,240 Points:1,330,640 Joined:Jul 2005	Message Posted: Feb 2, 2012 9:40:33 PM Ignore cutter1330 Report Abuse NG America's Fuel of the Future.
vulcan96 Champion Author Ohio Posts:21,886 Points:2,740,665 Joined:Aug 2004	Message Posted: Feb 2, 2012 9:39:41 PM 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 2, 2012 9:35:05 PM 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 2, 2012 9:25:33 PM 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 2, 2012 9:22:24 PM Ignore Ethan777OH Report Abuse When does Exxon, or any oil company really, NOT flex its muscle???!?
nwsynthetics All-Star Author Oregon Posts:527 Points:138,720 Joined:Dec 2011	Message Posted: Feb 2, 2012 9:22:17 PM Ignore nwsynthetics Report Abuse wow. good thing I have Facebook shares.
gmcgas Champion Author Atlanta Posts:3,519 Points:1,353,715 Joined:Mar 2004	Message Posted: Feb 2, 2012 9:21:44 PM Ignore gmcgas Report Abuse all in the numbers
roadrunnerMO Champion Author Kansas Posts:6,506 Points:1,333,435 Joined:Jul 2008	Message Posted: Feb 2, 2012 9:20:28 PM 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 2, 2012 9:20:12 PM 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:876 Points:295,575 Joined:May 2011	Message Posted: Feb 2, 2012 9:19:59 PM Ignore danol43 Report Abuse Over supply or lack of demand.
Road-Runner Champion Author Denver Posts:6,395 Points:1,772,290 Joined:May 2004	Message Posted: Feb 2, 2012 9:18:35 PM Ignore Road-Runner Report Abuse Ten year lows? Certainly NOT for consumers! What a cruel joke!