WaPo: Exxon Mobil Posts $10.36 Billion Profit
Company Faces New Round of Criticism
Exxon Mobil Corp. said yesterday that its second-quarter earnings jumped 36 percent, to $10.36 billion, boosted by climbing oil prices and larger profits at its refineries.
The quarterly profit -- the second-largest in U.S. history -- brought forth a fresh round of criticism from consumer and environmental groups. Critics accused the Irving, Tex.-based company of getting rich at the expense of motorists -- squeezed by $3-a-gallon gas prices -- while distributing billions to shareholders through dividends and by buying back shares. The largest quarterly profit by an American company, $10.71 billion, was also posted by Exxon, in the fourth quarter of 2005.
One bank would be too small to hold all the ill-gotten gains. Will a Democrat stand up and propose a windfall profits tax? How many quarters of record profits will it take?
this is the money they are going to use to develop tropical artcit resorts
ReplyDeletenationalize the oil industry, and then ablosish it!