Quote:
Originally Posted by Seascapes
If 3% of Exxon oil revenue comes from gasoline sales from US, and Exxon makes 2 cents a gallon on retail gasoline. Then my question is....Where does the other 97% of their revenue come from?... and if Exxon makes only 2 cents a gallon, then Where does the other $3.76 go to?
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Did you read the link?
The financial statements?
Exxon doesn't have very many retail outlets.
Exxon buys crude and sells it to US refineries.
Exxon sells, plastic, fibre, asphalt, and the long list of petrol products from crude and Natural Gas.
Please enjoy reading annual reports. You can call and get free reports sent and do not have to buy shares. I know you are an extreme liberal, but teacher pension funds, firemen retirement funds invest in Exxon and hope Exxon does well and pays dividends. Your life insurance company buys Exxon stock and invests wisely so when time is up, they can pay on the policy.
I was in New Orleans in May of 1981. The President of Mobil told me there were only 12 years of crude left in the world. They have discovered a lot of oil since then. (I got to ride the elevator with Dolly Parton at the Fairmont where she was also staying. ) Exxon makes money on the Arabs. Most of them sell crude to Exxon, and Exxon along with others refine it and sell products back to them for a good profit. Most arab countries lack refinery capacity. You didn't know that.
$3.76
Gasolene is $3.36 2 minutes ago New York harbor
2 cents is net profit. Not selling price. I had posted if I remember that Exxon Mobil spent 200 billion buying crude last year. They burn crude in the refining "cracking" process to make distillates and jet fuel, etc. It takes energy to push oil down the pipeline and haul fuel.
Plus delivery, state and fed taxes and you get 231 cubic inches of gasoline at 60 degrees and a temp penalty.
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