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Mon, Oct 06 2008 

Published: August 06, 2008 08:53 am    print this story   email this story   comment on this story  

Who’s fueling Exxon’s profits?

The Tribune-Democrat

Brace yourself for another Exxon Mobil bashing – the congressional hearings, the editorial cartoons, the Readers’ Forum letters, the barroom talk.

Yes, while we motorists cringe with every fill-up at the pumps, the world’s largest publicly traded oil company has announced that it turned a profit of $11.7 billion for the second quarter. That’s based on total sales of $138 billion – roughly the gross domestic product of Hungary.

Meanwhile, European rival Royal Dutch Shell posted its own record profit across the Atlantic, with earnings of $11.6 billion.

Two-thirds of Exxon Mobil’s earnings come from oil and gas production.

We guess it must be doing something very right, or consumerswouldn’t be buying its products, would they?

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