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EXXON BIGGEST PROFIT IN AMERICAN HISTORY

Exxon Mobil Sees Record Profit for U.S. Co.

Exxon Mobil Corp. posted record profits for any U.S. company on Monday — $10.71 billion for the fourth quarter and $36.13 billion for the year — as the world’s biggest publicly traded oil company benefited from high oil and gas prices and demand for refined products. The results exceeded Wall Street expectations and Exxon shares rose nearly 3 percent on premarket trading.

The company’s earnings amounted to $1.71 per share for the October-December quarter, up from $8.42 billion, or $1.30 per share, in the year ago quarter. The result topped the then-record quarterly profit of $9.92 billion Exxon posted in the third quarter of 2005.

Somehow, this is not a headline that thrills me. Perhaps thats because my trips to the gas station increasingly are a sad tale. Perhaps I’d be happier if I were a stockholder.

More on the story…

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One Response to "EXXON BIGGEST PROFIT IN AMERICAN HISTORY"

  1. Wendy says:

    Here is a quote from the “New York Times” article on this…

    “For instance, pharmaceutical companies earned 18.6 cents for each dollar of sales in the third quarter of 2005, and banks 18 cents, compared with 8.2 cents at oil and natural gas companies, said Mr. Boudreaux, the Exxon Mobil spokesman. ”

    Go figure. Point the fingers at everyone else!

    We the people need to change our ways. We can’t rely on the government to always do what is best for us.

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