Exxon Quarterly Profit 5th Highest Ever
Exxon Mobil Corp., the world’s largest oil company, reported Thursday the fifth highest quarterly profit for any public company in history, posting gains from higher oil prices that were likely to stoke the furor over outsized oil company earnings. Despite the 7 percent gain in earnings to more than $8 billion in the first quarter, Exxon Mobil said its earnings came in below its record fourth-quarter because all three of its business -exploration and production; refining; chemicals - didn’t perform as well.
OK…cue up the Gordon Gecko clip from “Wall Street”, willya? Three…two…one….
GREED IS GOOD!
Jeez…wait just a damn minute, OK? You make $8.4 BILLION in ONE QUARTER, and you’re whining about certain sectors of your business not performing as well as you had hoped? And analysts are complaining that profits weren’t high enough for the first quarter? WTF??? Can we get a grip on reality here for just a moment? Americans from coast to coast are being squeezed at the gas pump, ExxonMobil made an absolutely obscene profit, and people actually expected more? What, will these maroons finally be happy when we’re paying $5/gallon??
Something is very, very wrong when everyday, ordinary Americans are being squeezed by Big Oil and Wall Street still isn’t happy. Companies like ExxonMobil are making obscene windfall profits (they’ve got the gold mine) while Americans struggle more and more each day to make ends meet (we got the shaft). I don’t pretend to know what the answer is, but something has got to give. Feel free to chime in with your ideas.
