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Oil Profits Falling Fastest Since Lehman From Exxon to Chesapeake: Energy

Bloomberg -- Profits for the biggest U.S. energy producers including Exxon Mobil Corp. (XOM) are poised to decline the most since the financial meltdown of 2008-09 as the drilling technique known as fracking collapses natural gas prices.

Exxon and Chesapeake Energy Corp. (CHK), which today reports 2011 earnings, will see net income in 2012 slide 7 percent and 10 percent, respectively, according to the mean of analyst estimates compiled by Bloomberg. That would be the biggest drop since 2009 for the companies, the largest U.S. gas producers.

While higher global demand for transportation fuels drove up crude prices about 30 percent since 2009, the domestic gas glut is pinching earnings for producers even as it pushes the U.S. toward energy independence. Especially hurt are Chesapeake and ConocoPhilli


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Submitted Feb 21, 2012 By: Lighting10K
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Oil Profits Falling Fastest Since Lehman From Exxon to Chesapeake: Energy Back to Topics
REPLIES (newest first) Post a Reply
Blackice
Champion Author Twin Cities

Posts:4,675
Points:1,384,160
Joined:Oct 2003
Message Posted: Feb 21, 2012 7:28:15 PM

Give me a break! After making outrageous profit for the past 4 years. You can't expect to make it 5 years in a roll.
walkingtall
Champion Author Toronto

Posts:7,073
Points:1,880,665
Joined:Nov 2004
Message Posted: Feb 21, 2012 7:26:52 PM

Oil profits falling fastest since Lehman from Exxon to Chesapeake and with oil prices going up,oil companies will make a huge profit.
nomad228
Champion Author Columbus

Posts:3,208
Points:592,275
Joined:Feb 2011
Message Posted: Feb 21, 2012 7:26:13 PM

if i were a thinking american ,i would have suspicions of big earl setting fire to ther own oil wells, in middle eastern countries to drive up record profits here in the states.
outlaw329
Champion Author Austin

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Joined:Aug 2008
Message Posted: Feb 21, 2012 7:25:47 PM

Also all the below comments are good.
the_otg
All-Star Author Pittsburgh

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Joined:Jul 2008
Message Posted: Feb 21, 2012 7:22:43 PM

All of the below
mrbee
Champion Author Little Rock

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Message Posted: Feb 21, 2012 7:20:33 PM

Drill more.
bif65
Champion Author Virginia

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Joined:Jan 2011
Message Posted: Feb 21, 2012 7:19:27 PM

ok
knot2swift
Champion Author Calgary

Posts:6,322
Points:1,091,145
Joined:Nov 2009
Message Posted: Feb 21, 2012 7:19:07 PM

I see many oil companies mired in debt from the last down turn in prices.

They will be eaten by those that survived quite well. Can anyone spell "Takeovers" or "Acquisitions".
billy44bo
Champion Author Mobile

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Message Posted: Feb 21, 2012 7:16:56 PM

Exxon will make its billions and we will have to take it in the shorts
Travel1st
Champion Author Las Vegas

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Message Posted: Feb 21, 2012 7:16:32 PM

Agree with others comments.
theschmuck
Champion Author Michigan

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Message Posted: Feb 21, 2012 7:14:45 PM

No sense in repeating what has already been said. Agree with a bunch of the replies.
swrestler
Champion Author Grand Rapids

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Message Posted: Feb 21, 2012 7:13:04 PM

Big Oil Is Making Profits, From The Consumer......
bababooey2
Champion Author Hartford

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Message Posted: Feb 21, 2012 7:12:16 PM

I can smell the BS from here.
silverbullet90
All-Star Author Florida

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Message Posted: Feb 21, 2012 7:11:06 PM

Ok
ladyeagle57
Champion Author Maine

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Joined:Aug 2008
Message Posted: Feb 21, 2012 7:09:05 PM

So lets go back to $2 a gallon, because I do not want to pay $5 a gallon so they make a profit.
JOE1744MO
Rookie Author Missouri

Posts:29
Points:49,730
Joined:Feb 2012
Message Posted: Feb 21, 2012 7:09:04 PM

Bloomberg is as big a liar as big oil, drill baby drill and nuke Iran should be our motto
ShabbyPA
Champion Author Pennsylvania

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Message Posted: Feb 21, 2012 7:03:33 PM

bla bla blue
TDIdave
Champion Author California

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Joined:May 2006
Message Posted: Feb 21, 2012 6:59:11 PM

hmmm.
cimilluca1
Sophomore Author New York

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Points:234,425
Joined:Aug 2011
Message Posted: Feb 21, 2012 6:58:37 PM

Somebody will pick up the slack.....Start the drilling in NY baby!!
skb69sa
Champion Author San Antonio

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Message Posted: Feb 21, 2012 6:55:54 PM

Bloomberg - Source of all speculations
heysailor
Champion Author Pittsburgh

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Message Posted: Feb 21, 2012 6:50:13 PM

Boo hoo for the losiers in vulture capitalism.
mecforyou
Champion Author Iowa

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Message Posted: Feb 21, 2012 6:47:21 PM

That was yesterday today it's back up 25%
nels1jac
Veteran Author Minnesota

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Joined:May 2011
Message Posted: Feb 21, 2012 6:45:39 PM

Oh no, those poor people, we should help them...
sjambok
Champion Author Nashville

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Message Posted: Feb 21, 2012 6:43:47 PM

There'll be more to reckon with than falling natural gas prices. The earth beneath our feet will be the next to go!
dinomen
Champion Author Arkansas

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Message Posted: Feb 21, 2012 6:42:35 PM

Ok.
ratones1
Champion Author Los Angeles

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Message Posted: Feb 21, 2012 6:41:35 PM

MORE AND MORE LIES!!!
spiderjay
Champion Author Little Rock

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Message Posted: Feb 21, 2012 6:41:30 PM

FALLING COW COOKIES!!!!!!!!
dollarwatcher
Champion Author Wisconsin

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Message Posted: Feb 21, 2012 6:41:10 PM

Hey author, you don't expect us to believe this story do you.
ramshot412
Champion Author Riverside

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Message Posted: Feb 21, 2012 6:39:52 PM

They don't have to worry, boehner "The Boner" and his congress will save them.
spunky4443
Champion Author Washington

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Message Posted: Feb 21, 2012 6:39:44 PM

With the prices of fuel going up, Oil Companies are making all kinds of Profit.
race2IT
Champion Author Fort Worth

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Message Posted: Feb 21, 2012 6:38:10 PM

Lies.
Old Timer
Champion Author Akron

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Message Posted: Feb 21, 2012 6:37:35 PM

Oil profits dropping? ha ha ha ha Good one!
575Racing
Sophomore Author Akron

Posts:177
Points:133,845
Joined:Jan 2011
Message Posted: Feb 21, 2012 6:36:22 PM

hmmmmm? supply is up, and demand is slightly down due to natural gas options. So........why do prices keep going up?
cutter1330
Champion Author Oklahoma

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Message Posted: Feb 21, 2012 6:36:04 PM

An energy sector where supply & demand works..
rpr77
Champion Author Philadelphia

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Message Posted: Feb 21, 2012 6:33:53 PM

ok
baconnie
Champion Author Dallas

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Joined:Jun 2008
Message Posted: Feb 21, 2012 6:32:42 PM

Ok
warlord1
Champion Author Georgia

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Joined:May 2010
Message Posted: Feb 21, 2012 6:31:47 PM

ok
Dremwolf
Veteran Author Jacksonville

Posts:476
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Joined:May 2008
Message Posted: Feb 21, 2012 6:29:37 PM

Hard to see profits slide when prices keep rising.
Alaydown
Champion Author Los Angeles

Posts:7,244
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Joined:May 2007
Message Posted: Feb 21, 2012 6:28:40 PM

You voted for higher prices when you elected Obama. He promised that energy prices would skyrocket under his energy plan. Also, both he and his Energy Secretary, Dr. Chu, want gas prices at "European levels" ($8-10 per gallon) to "encourage" conservation and make "alternative" energy more competitive.

If Obama changed direction and increased domestic production of oil, then "speculators" would drop the price of oil. Investors only speculate the price up or down depending on what the world supply and demand will be. People LOVE to blame "speculators," but if we had a president who believed in INCREASING the oil supply INSTEAD OF CUTTING it, then the price would drop. If you want to see the price plummet, then vote Obama out of office in 2012.
gassy4u
Champion Author Mobile

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Message Posted: Feb 21, 2012 6:27:09 PM

SkyWarnTX=spammer
ekidokai
Champion Author Maine

Posts:10,584
Points:1,824,085
Joined:Nov 2006
Message Posted: Feb 21, 2012 6:21:51 PM

Lower profits. Too bad.
jwduke1
Champion Author Iowa

Posts:15,605
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Joined:Apr 2004
Message Posted: Feb 21, 2012 6:21:42 PM

Right, and gold is a buck a pound!
mjpalm
Sophomore Author Sioux Falls

Posts:184
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Joined:Feb 2011
Message Posted: Feb 21, 2012 6:20:50 PM

Propaganda to allow oil prices to go hire
DieselCash
Champion Author Texas

Posts:1,380
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Joined:Sep 2009
Message Posted: Feb 21, 2012 6:20:18 PM

I find this hard to believe
darkknight1
Champion Author Winston-Salem

Posts:7,525
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Joined:Nov 2010
Message Posted: Feb 21, 2012 6:17:57 PM

I'm sure they'll make up for it somewhere
gasokie
Champion Author Oklahoma

Posts:4,990
Points:1,984,085
Joined:May 2007
Message Posted: Feb 21, 2012 6:15:15 PM

3 more small stations closed down around where I drive. I like to trade with these independent owners when I can. When prices go up, percentages fall and profits decrease. This is very tough on little guys.
GigHarborHound
Champion Author Tacoma

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Joined:Sep 2011
Message Posted: Feb 21, 2012 6:11:11 PM

Natural gas!!
bullfrog69
Champion Author Texas

Posts:2,750
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Joined:Nov 2009
Message Posted: Feb 21, 2012 6:10:35 PM

you believe this, then I got sum swamp land in the Mojave desert I wanna sell ya!
PizzaMon
Champion Author Philadelphia

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Message Posted: Feb 21, 2012 6:08:25 PM

Time for them to suffer some too.
nascar8806
Champion Author Oklahoma City

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Message Posted: Feb 21, 2012 6:08:16 PM

This is a joke
noumi
Rookie Author Toronto

Posts:3
Points:2,360
Joined:Feb 2012
Message Posted: Feb 21, 2012 6:07:18 PM

we are filling coroprate belly
CheapDiesel
Champion Author Indianapolis

Posts:1,558
Points:259,200
Joined:Nov 2005
Message Posted: Feb 21, 2012 6:07:03 PM

Natural gas is only cheap for the utility providers, the discount doesn't make it down to the consumer.
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