Imagine – Exxon Mobile Oil and Gas Companies Profits Breaks All Records Again!

Oil and Gas companies profits are being kept components of their business which reflect their core business competencies in-house. However, with the release of the Exxon Mobile Profit, being the highest of any public trading company ever, is said to be over $40 Billion dollars! Looks as if the American Consumers took it in the chin again!

Oil & gas can be a very profitable investment. The companies typically pay a 12 to 16 percent royalty on oil and gas they extract from federally owned waters. Thus making royalty payments the second largest source of government revenue next to taxes, bringing in approximately $9 billion in annual revenues which historically provided needed funding to the Land and Water Conservation Fund, the Historic Preservation Trust Fund, the oil-producing states and the general treasury. These businesses deal with a massive amount of data. Of this massive amount of data the oil and gas industry profits make up a large portion. Oil and gas companies profits may sometimes have very long compute cycles that may last for weeks. As prices slid more than $2 a barrel Thursday amid economic worries this did not hamper the oil and gas companies profits. This was quite evident at the fuel pumps!

Production is growing even more expensive, as the industry rebuilds to more-rigorous specifications after last season’s hurricane damage. Higher recovery rates by increase of reservoir management (integrated information from multiple systems)The real-time data provided by the PI System helps the companies affect operational efficiency by:Enabling proactive maintenance through condition-based monitoring Personnel work efficiency through management of data by exception (focus on analysis instead of the ring the data) Provides data necessary for safety monitoring, as well as regulatory reporting With the PI System, customers can consolidate all operational data from remote locations and provide this data to everyone in a business unit (and higher), this can set the stage for base lining and ranking performance based on common measurement data. Production from these leases is just now coming on line.

Companies must gain access to existing reserves and find new ways to increase production levels so as to give the consumers a much needed break from these record high fuel prices. With the oil and gas industry profits breaking records every year why can’t they learn to do with less as does the American consumers?

Congress should act immediately to end giveaways to the oil and gas industry even if it means dipping into the oil and gas industry profits.

The Exxon Mobile profit is a perfect example of greed in corporate America. Something desperately needs to be done to curb the oil and gas industry profits to allow the American consumers a little breathing room and to put some profits of their own into their pockets for a change.

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