Jul 27 2006

While Big Oil Feasts, Americans Are Getting Fleeced

Published by Daniel Cody at 7:46 am under Politics

Good things Republicans supported those tax breaks for big oil companies… otherwise they might not be able to stay afloat on $40 billion in profits a year.

Exxon Mobil Corp. said Thursday it earned $10.36 billion in the second quarter, the second largest quarterly profit ever recorded by a publicly traded U.S. company.

The earnings figure was 36 percent above the profit it reported a year ago. High oil prices helped boost the company’s revenue by 12 percent to a level just short of a quarterly record. - AP

Regular unleaded gas in Milwaukee this morning is $3.20/gallon by the way.

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