Jan 30 2006
An Industry in Obvious Need of Government Welfare
Exxon Mobil had it’s best financial quarter ever to end 2005, pulling in an amazing $10 Billion in profits for the last 3 months of the year.
Clearly they needed those tax breaks their buddies in Congress got passed for them last year. Because the gauging that you and I have been taking at the pump might not have been enough to get them over the $10 Billion mark alone.
While oil and gasoline prices in the fourth quarter were down from the levels seen in September, that barely dented Exxon Mobil’s top line. Revenue for the quarter was $99.7 billion, up from $81.9 billion in the year-earlier quarter, and down only 1 percent from the $100.7 billion in revenue in the third quarter. Full-year revenue came to $371 billion, or just over $1 billion a day.
CNN
One. Billion. Dollars. per day? Just pure profit? I cannot even get my mind around that, and it makes me question even more just who’s pulling hte strings in the current administration.