Biggest Quarterly Profit... agian.
Exxon Mobil just announced its quarterly profits. I feel bad for the guys - they didn't meet what the market was projecting their profits at - about $12.1 billion.
Despite not meeting projections, they just broke the United States record books again. They brought in a whopping $11.68 Billion dollars in profit. In numerical form, that's $11,680,000,000. The previous record was $11.66 Billion in the fourth quarter of 2007. Sure it may be only 0.02 points, but don't forget that 0.02 points is $20 Million dollars. That's a lot of cash.
Sure their shares are down 3%, but lets look at some of the other industries of this nation. It seems like 3% for the largest publicly traded oil company is not that much in comparison to the downfall other sects have experienced around the country.
Much of the increased profits that are seen in the oil industry [in comparison to other industries] comes from government tax cuts that are issued to Exxon Mobil and companies alike. Some argue that these tax breaks allow for new drilling sites and would eventually raise the price of crude. I can understand this, but as energy is getting more expensive, roads are getting worse, and education budgets being cut - it seems as though we should be taking equal tax money in an effort to improve roads, develop 'green' technology, and get America's children the proper education they need and are entitled to.
Maybe it's just me, but for some reason I think that if the executives at Exxon Mobile had to fork over a little more in tax money, they would still be able to eat pretty well. Hah!


Despite not meeting projections, they just broke the United States record books again. They brought in a whopping $11.68 Billion dollars in profit. In numerical form, that's $11,680,000,000. The previous record was $11.66 Billion in the fourth quarter of 2007. Sure it may be only 0.02 points, but don't forget that 0.02 points is $20 Million dollars. That's a lot of cash.
Sure their shares are down 3%, but lets look at some of the other industries of this nation. It seems like 3% for the largest publicly traded oil company is not that much in comparison to the downfall other sects have experienced around the country.
Much of the increased profits that are seen in the oil industry [in comparison to other industries] comes from government tax cuts that are issued to Exxon Mobil and companies alike. Some argue that these tax breaks allow for new drilling sites and would eventually raise the price of crude. I can understand this, but as energy is getting more expensive, roads are getting worse, and education budgets being cut - it seems as though we should be taking equal tax money in an effort to improve roads, develop 'green' technology, and get America's children the proper education they need and are entitled to.
Maybe it's just me, but for some reason I think that if the executives at Exxon Mobile had to fork over a little more in tax money, they would still be able to eat pretty well. Hah!


Labels: education, Exxon Mobil, gas, global warming, green technology, profits, tax





