The Tribune-Democrat
August 06, 2008 08:51 am
—
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?
Copyright © 1999-2008 cnhi, inc.