Exxon to sell all of company’s gas stations!

[The Source]

Exxon to sell all of company’s gas stations!

Title is straight from the headline itself.

 

http://www.msnbc.msn.com/id/25126563/

 

HOUSTON - Exxon Mobil is getting out of the retail gasoline business, a market where profits have gotten tougher because of high crude oil prices.

 

The world's largest publicly traded oil company said Thursday it will sell its 820-company owned stations and another 1,400 outlets operated by dealers to gasoline distributors across the U.S.

 

The Irving-based company didn't disclose financial details but said the transition will take place over a "multiyear period."

 

However, motorists will continue to see Exxon and Mobil stations throughout the country. About 75 percent of its roughly 12,000 stations in the U.S. are owned by branded distributors. Exxon Mobil will still sell gasoline to those stations and get paid for the use of its name.

Someone is worried about getting into trouble for price gouging.

[Corinthian]

I don't see how Exxon is price gouging given that they've been within a reasonable range of most other Gas Stations.

[tk102]

There was good episode of Charlie Rose on Tuesday night about oil and a discussion about the future of big oil companies. The conclusion by Charlie's guests was that the big oil companies were now in a period of long-term liquidation of assets, shrinking their operations as they fail to find new oil sources. This stands in comparison to small- to mid-sized oil companies who are using more innovative techniques and becoming profitable.

 

Exxon specifically was mentioned in regards to their recent shareholders meeting where discussions about their expenditure of buying back their own stock as a short term boost was now hurting themselves in the long run.

 

 

http://www.charlierose.com/shows/2008/06/10/1/a-discussion-about-the-price-of-oil @27:30

[M@RS]

I think they should nuke the middles east except for our allies (of course) and take over the oil there that will end the war with a BANG!

[EnderWiggin]

I think they should nuke the middles east except for our allies (of course) and take over the oil there that will end the war with a BANG!

 

And that's the most ridiculous thing I've ever heard.

 

Hasn't anyone ever told you about MAD?

 

I'm also wondering who you're going to send in to work the oil fields after we set off that nuclear explosion.

 

Thanks in advance for your response.

 

_EW_

[Totenkopf]

And that's the most ridiculous thing I've ever heard.

 

Hasn't anyone ever told you about MAD?

 

I'm also wondering who you're going to send in to work the oil fields after we set off that nuclear explosion.

 

Thanks in advance for your response.

 

_EW_

 

 

Slant drilling.

[The Source]

There was good episode of Charlie Rose on Tuesday night about oil and a discussion about the future of big oil companies. The conclusion by Charlie's guests was that the big oil companies were now in a period of long-term liquidation of assets, shrinking their operations as they fail to find new oil sources. This stands in comparison to small- to mid-sized oil companies who are using more innovative techniques and becoming profitable.

 

Exxon specifically was mentioned in regards to their recent shareholders meeting where discussions about their expenditure of buying back their own stock as a short term boost was now hurting themselves in the long run.

 

 

http://www.charlierose.com/shows/2008/06/10/1/a-discussion-about-the-price-of-oil @27:30

Huh. I did not know this. Charlie Rose on WHGH has interesting guests. Maybe he will repeate the episode. I will keep my eyes open. Thanks TK.