Exxon posts record $11.68 billion profit; $1500 per second!
What more can be said than this shocking headline for impact? The rest of the world is in crisis and we’re paying up the nose while the oil companies are raking in profits. Exon is making a profit of almost $1500 every SECOND!! What’s wrong with this picture? The oil companies are led by people who seem to be sociopathic.
Exxon Mobil once again reported the largest quarterly profit in U.S. history Thursday, posting net income of $11.68 billion on revenue of $138 billion in the second quarter.
That profit works out to $1,485.55 a second.
That barely beat the previous corporate record of $11.66 billion, also set by Exxon in the fourth quarter of 2007.
“The fundamentals of our business remain strong,” Henry Hubble, Exxon’s vice president of investor relations, said on a conference call. “We continue to capture the benefit of strong industry conditions.”
The effect of the fuel crisis is really the effect of decades of no planning. Oil has, for a century, been a forced issue, provoking wars, creating global pollution, affecting food prices and suffocating innovation. When oil men comprise the nation’s administration it’s a recipe for disaster. This is both a health issue and an economic issue. And the answer is not to explore for more oil, but to do as other nations are doing, and stop dependency on fossil fuels. In a nutshell, we’re being robbed by oil barons.
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