Jul 31 2008

Obscenity: I know it when I see it.

Associated Press via Raw Story

HOUSTON – Exxon Mobil reported second-quarter earnings of $11.68 billion Thursday, the biggest quarterly profit ever by any U.S. corporation, but the results fell well short of Wall Street expectations and shares fell in premarket trading.

The world’s largest publicly traded oil company said its net income for the April-June period came to $2.22 a share, up from $10.26 billion, or $1.83 a share, a year ago.

snip

Excluding an aftertax charge of $290 million related to an Exxon Valdez court settlement, earnings amounted to $11.97 billion, or $2.27 per share.

Via Think Progress


ABC reported today that Exxon spends only 1 percent of profits on alternative energy sources.

                       

Did you catch that graphic?

Last year the Big Five oil corporations made 1.5 Trillion dollars. That was BEFORE this years spike to $4 a gallon. ($4.50 is a bargain, here in SF)  

And yes, we taxpayers ARE still subsidizing the oil companies through tax breaks….even as we have to stop driving because we can’t afford to buy their gas and still eat, ya know, food.

Even while we taxpayers pay trillions to kill Iraqis so that they can get their hands on THAT oil… to then sell to us… at record profits.

While not investing in alternative energy…. or as I like to call what they are in the midst of doing…. killing the planet. It’s great that the stockholders and executives are making enough money to secure the future of their children and grandchildren. Too bad they won’t have a habitable planet to spend it on in 50 years.

And they call US loony!

14 comments

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  1. Photobucket

    • Edger on July 31, 2008 at 20:18
    • #

    It’s going to trickle down, yes? No?

    More crumbs, please. :-/

  4. IT SUCKS — IT ALL SUCKS!  What a mockery and they’re not trying to get rid of the middle class?

    Sociopaths don’t give a flying fuck about the environment and the future generations of children!

    Wonder if a class-action lawsuit against these companies for deceiving Americans and robbing them in the process would have any weight!

    • Edger on July 31, 2008 at 20:27
    • #

    The more profit Exxon Mobil makes the lower gasoline pump prices will go and the more people will drive which will benefit the auto companies who will create even more jobs and everyone will have so much more disposable income that they’ll spend it all when they get to the mall which will cause a retail boom and another snowballing effect in hiring in china and other places where they make substandard products to sell to Americans.

    It’ll be a consumer paradise. Like it always has been.

    What’s your beef?

  6.  R &D you know R&D into how to weasel more tax breaks out of Americans and R&D into which corporate jets to buy and how to spend their executive bonuses. Its hard work man….

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